Afternoon everyone….
I know that some of you might be panicking about the silver price. Don’t nothing has changed but the price. There are still massive shortages of physical silver. Large corporations are still paying high premiums to secure physical metal for their production.
But fear not my grasshoppers…..
That was all a pre planned play, shaking out the weak on their silver long positions.
My buddy on the west coast sent me a snippet of a podcast that his company gets. These are private financial industry only. In it two things that you MUST take note of:
Samsung the biggest producer of electronics signed a two year contract with "La Parrilla Silver Mine Complex" in Durango, Mexico for all of its silver production for the next two years. That is absolutely HUGE!!!
Why you might be asking? Because that is between 2.5 - 3 million ounces that will never see the market now. They are not the only ones either. Tesla is in negotiations with Antamina which is the largest and most productive silver mine in Peru. If this gets done that’s another 12 - 14 million ounces off the market as well.
If you don’t hold it, you don’t own it…..
Got silver???
