by John Rubino
Dollar Collapse
For just a little while – literally a couple of days – silver stackers saw the light of sudden riches at the end of the tunnel. The Reddit/Robinhood hoards had noticed that the metal was cheap and blatantly manipulated, and therefore ripe for an epic short squeeze. They were piling into SLV and PSLV, forcing those ETFs to buy up all the available physical silver and, it was hoped, crush the paper players who have since time immemorial used futures contracts to torment the metal’s fans. The weekend was all anticipation, as coin dealers pulled their inventory off the market and premiums spiked to over $10/oz.
[…] Monday lived up to expectations. Silver spiked, the silver miners soared, and panicked/euphoric stories appeared everywhere online. The Reddit Raiders were reportedly targeting $1,000/oz, but silver bugs would have been happy with $100, which suddenly looked imminent.