Gold at $25000. Silver at $600.

Where is the metal for the paper?
That seems to be the problem.
That remains the problem. Over 900 million paper contracts dumped today so far. Apparently these have been rolled into the March contracts, kicking the can down the road and putting off the official short squeeze till 2026. But this is a problem with no solution for the shorts. That game has been badly exposed.
 
Despite the fact that silver has now broken the $64 barrier -- and the silver well in London is running close to empty...with very elevated lease rates...the gold/silver ratio remains at a farcical 69.5 to 1 as of the Friday's close. The 'normal' and historical ratio is around 15 to 1...which would put silver at about $286. And if priced at the ratio of 7:1 that it comes out of the ground at, compared to gold...that would put silver at around $614 an ounce. So a triple-digit silver price is in our future -- and all that remains to be resolved is what that number will be -- and how soon 'da boyz' allow it to happen.

 
The “line ups” are not in futures.They’re in PHYSICAL silver.This move is driven by inelastic global physical demand, not paper speculation.Margin hikes can cool leverage.They can’t create silver that doesn’t exist.That’s why this rally is different.Not a paper spike.A structural repricing.


View: https://x.com/honzacern1/status/2000279945596023126
 

400 million ounces shortfall per annum.
That cannot be papered over.
The market has been rigged since the Hunt brothers tried to corner the market for silver in 1980.
As it stands the jump in prices will play hell with the electronics, pv and ev industries.
There's a genuine revision of the price of silver occurring.
Back in 2010 the price tipped $42 briefly.
Due to the shaking economic situation.
If silver prices were linked to inflation only from this point its about $62.
Adjusted for its 1980 high it needs to hit 170 dollars.
 
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