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Silver is currently ~$22 / ounce. Is a hundred dollar move really a realistic outcome?
by xur17 5y ago
Silver is currently ~$22 / ounce. Is a hundred dollar move really a realistic outcome?
- whatshisface 5y agoIt depends on how big the silver market is compared to 800 million ounces. If someone with no short exposure and lots of money starts buying it, and BofA has to cover their shorts, then something like Gamestop will happen and a major bank will blow up. The silver market has been cornered before, in the 1980s, quite famously, in an event that moved the price by a factor of ten (order-of-magnitude). https://en.wikipedia.org/wiki/Silver_Thursday https://en.wikipedia.org/wiki/Silver_Thursday
- shostack 5y agoI was just about to say... Is /r/wallstreetbets all over this yet? Taking out BofA seems like their idea of fun.
- joezydeco 5y ago/r/wallstreetsilver has been active for nearly a year now.
- xboxnolifes 5y agoPeople on WSB have been claiming silver is the next big bet even back when GME and AMC were the main talk.
- impendingchange 5y agoIrregardless, 800m ounces is the annual output of all mines on the planet. How will BOA satisfy the shorts?
- whatshisface 5y agoThere is a lot of silver piled up already. I hope for the sake of the taxpayers that would have to pay for BofA's mistake, that the amount of liquid silver out there is way too big for anyone to corner.