Afternoon everyone ……
The perfect storm for silver is churning VERY HARD right now.
In case you weren’t paying attention December 26st, the slowest volume trading day of the year. The powers that be couldn’t hold the silver price down. They tried once silver passed the $72 mark. JP Morgan unleashed its wrath with paper contracts to push it back down.
That lasted a full ten minutes, until silver pushed past $73. They unleashed double the contracts that they had earlier released. That lasted just as long while silver pushed past the $74 nearing $75.
With it being Boxing Day in the United Kingdom the LBMA was closed. This is significant, because there was no where to buy the physical silver to hit the margin call for those paper contracts that were now under water.
The BIG THREE started to scramble buying up whatever silver they could get their hands on to cover the loss. They have all been in the office all weekend trying to figure a way out…..
This is HUGE, because the Shanghai exchange has a current silver price of $81.99. There are zero exports of silver coming from China. They have frozen all exports. Why is this significant? Because they produce 70% of the physical silver mined. The remaining 30% is largely bought for institutional use by companies like Samsung, Tesla, the solar industry and medical industry.
Canada and the United Kingdom have already announce that they have zero silver reserves. So where exactly is the silver coming from to produce coins, bars and rounds?
Once the mints run out of their current stock, they will have a very difficult time finding the amounts required for production. Which will drive the price of silver higher.
Watch at 6:00pm EST, when the Asian market opens for business. Silver is going to explode!!!!!
We will see $100 silver in the very near future. Maybe even before the year ends.
