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If it flashes to $1000 an ounce, you're not going to want to trade your silver for dollars, you're going to be too busy trying to empty your bank account to tra

If it flashes to $1000 an ounce, you're not going to want to trade your silver for dollars, you're going to be too busy trying to empty your bank account to trade your dollars for anything.

klyrs 6y ago
That's a stated goal for the squeeze. It's a supply-to-market issue, not indicative of long term demand or massive depreciation of the dollar that you seem to be implying. It's a good opportunity to sell, not a reason to run the bank. > On WallStreetBets, one user wrote in a highly-upvoted post they want to push up the price for an ounce of silver from around $25 to $1,000 in what they described as the “biggest short squeeze in the world.” The post was later deleted by moderators of the group.
COGlory 6y ago
Yes - I went through a phase in 2008 where I purchased some metals. Then I quickly had a realization that the forces at play were far too overwhelming for the measly amount of precious metals I could purchase to ever be meaningful. Sort of like that feeling you get when a big wave crashes right on top of you and pins you to the sand. The difference in power between yourself, no matter how built, strong, and good of a swimmer you might be, and the wave, are just so huge, that there really was never any point in trying to resist it anyways.
belorn 6y ago
I must ask, why would the bank crash if silver changed its price significant in one direction or an other?
- gizmo686 6y ago
  I think the idea is that silver suddenly being 1000 USD/oz is more likely to be the result of something happening with the value of USD then it is the value of silver.
  - jasongill 6y ago
    Correct; silver is about $25-30 per ounce whereas gold is closer to $2000 per ounce. If silver was to climb to $1000 per ounce it would likely be due to hyperinflation of the USD, not a sudden scarcity of silver
    - belorn 6y ago
      Okey, then at least I understand the subtext of that comment. Through, it does make me wonder. How likely were it that the oil price went into negative last summer? From someone who does not follow the raw material market, that event sounded more strange than a tulip mania.

If it flashes to $1000 an ounce, you're not going to want to trade your silver for dollars, you're going to be too busy trying to empty your bank account to trade your dollars for anything.

klyrs 6y ago

That's a stated goal for the squeeze. It's a supply-to-market issue, not indicative of long term demand or massive depreciation of the dollar that you seem to be implying. It's a good opportunity to sell, not a reason to run the bank. > On WallStreetBets, one user wrote in a highly-upvoted post they want to push up the price for an ounce of silver from around $25 to $1,000 in what they described as the “biggest short squeeze in the world.” The post was later deleted by moderators of the group.

COGlory 6y ago

Yes - I went through a phase in 2008 where I purchased some metals. Then I quickly had a realization that the forces at play were far too overwhelming for the measly amount of precious metals I could purchase to ever be meaningful. Sort of like that feeling you get when a big wave crashes right on top of you and pins you to the sand. The difference in power between yourself, no matter how built, strong, and good of a swimmer you might be, and the wave, are just so huge, that there really was never any point in trying to resist it anyways.

belorn 6y ago

I must ask, why would the bank crash if silver changed its price significant in one direction or an other?

gizmo686 6y ago
I think the idea is that silver suddenly being 1000 USD/oz is more likely to be the result of something happening with the value of USD then it is the value of silver.
- jasongill 6y ago
  Correct; silver is about $25-30 per ounce whereas gold is closer to $2000 per ounce. If silver was to climb to $1000 per ounce it would likely be due to hyperinflation of the USD, not a sudden scarcity of silver
  - belorn 6y ago
    Okey, then at least I understand the subtext of that comment. Through, it does make me wonder. How likely were it that the oil price went into negative last summer? From someone who does not follow the raw material market, that event sounded more strange than a tulip mania.