So Some of the subscribers have been asking about Tim Pool’s video saying buying silver was a trap. Let me begin by saying I do not believe He was doing this for nefarious reasons, at least I hope He wasn’t but I believe He was just looking for content for a couple of reasons. I personally shared one of the top posts from the Reddit page And saw huge commitments from whales to go in on Silver. I also bought shares in the companies they were suggesting after reading the Biggest short squeeze in history posts. They’re right about silver and Wall Street Bets is a chat board so of course you can go through Reddit and find members who don’t want people to buy silver and they are trying to trick people into stop buying into GME.
They are wrong and We should all pile into silver and squeeze out shorts just like the following from, exhibit A: The fact The Wall Street Bets Short Squeeze on GME Was a Tremendous Success They Forced these megabanks to dump their positions into extremely overvalued prices. There were close to $8.8 billion in losses. THAT’S MISSION ACCOMPLISHED, NOW DO SILVER!
BY TYLER DURDEN
After starting the day solidly in the green, Gamestop – along with other most shorted names – traded as high as $383 after Robinhood eased its trading limits over the weekend, which saw the brokerage effectively halt trading in as many as 50 stocks.
However, the early euphoria did not last long, and moments ago the stock tumbled as much as 34%, before getting halted after triggering a circuit breaker.
While there was no actual news, traders were scrambling to figure out if there was a catalyst to the move.
There was: according to an update from trading analytics firm S3 Partners (published at 1023am ET), after holding steady in the triple digits, the company’s short interest plunged, with the company’s founder Ihor Dusaniwsky reporting that according to the firm’s analytics as of this morning, “short interest is just $8.82BN or 27.12M shares shorted” as the shares short have declined by a whopping 35.2 million shares over the last week.
According to S3 calculations, this represents just 53.15% short interest of the % Float (or 34.1% using S3’s version of SI % Float which excludes synthetic share); Confirming that shorting is now far easier, the borrow fee has plunged from 26% to just 10% indicating that millions of shares have indeed been unlocked for shorting.
And the same short interest data, only viewed as a % of the float, also from S3 Partners:
And with both short interest and borrow fees tumbling, the main catalyst behind the squeeze – namely GME being the most shorted Russell 3000 stock – is now gone.
Which begs the question: is the party finally over, and how long before GME trades back near its true value.
So that was an internet theory that buying silver is a trap, what a foolish thing, maybe not purposely but only a fool thinks buying silver is a bad idea during a hyperinflationary superstorm depression. Buying silver is not buy a product. SILVER IS MONEY, GOLD IS MONEY and when you exchange dollars for silver in many states there’s no tax because you’re just transferring your wealth to another form of money, it’s not lost or wasted it’s preserved. Holding your savings in dollars is suicide at this point considering the epic surge in money printing. I think Silver is real money and in a world with an international rush to devalue Fiat currencies Silver and Gold is a lifeboat.