The real problem is that BofA may now be short 800 million oz of physical silver without a chance of ever being able to pay that silver back, except at much higher prices – as it must do someday. At least, that’s the way I see it – based upon public data from the US Treasury Department and my knowledge of how nutty are these precious metals loans.
The seriousness of this issue is rooted in the scale of the numbers. If Bank of America is short 800 million oz of silver, as the data in the OCC report strongly suggests, then that means every dollar higher in the price of silver translated into an $800 million open (unrealized) loss. Every $10 move equates to an $8 billion loss. A hundred dollar move higher from here equates to an $80 billion loss. Can BofA fund such losses or will taxpayers be called upon to bail the bank out? Even the slightest hint of such a development should be enough to require immediate clarification from the regulators and BofA and there’s a lot more than the slightest hint in the OCC report.
https://silverseek.com/article/more-serious-i-thought
Watch out for "German Silver"! It's actually a silver alloy, not worth nearly as much. I've known a number of "stackers" that got burned with it. Will say it right on the piece.
Make sure it says .999 or .9999 silver on the bar/round/ingot.
All the major online dealers are good sd bullion, apmex,jm bullion. You can go t r/wallstreetsilver and read the DD posts.a lot of us are over their and other based frens.
silvertowne.com --one of the top 5 in minting silver and if you go to their storefront in Indiana they always have deals on site.
volunteerpreciousmetals.com ---guy in Tennessee who has been selling silver and gold for decades-trustworthy-
I have used both of these and recommend, I am not associated with them , just a customer
Interestingly I cannot buy silver in one ounce bars now without paying an insane premium of almost 2x the sale cost from my usual supplier here. Silver supplies are plummeting into the ground, and I'm having to diversify again generally.
When you look at the figures, you' ll notice more and more paper is needed to notch the price of silver down a bit. The correlation between less paper and price rises vs more paper and price decreases is apparent.
The other interesting tidbit, especially when you would plot the silver price on the same graph as provided, you will find a threshold figure of about 30$ per ounce.
The is leading part of these figures is they do not convey the day to day battle to keep Silver under 30. For that you can go to Tradingview.com, goto charts and choose XAG/Dollar, and daily chart.
Zooming out, which is often NOT done by these financial gurus, you will notice something else. The assets: EUR/Dollar, Silver/Dollar, Silver Euro, BTC/Dollar, ETC, are now moving in tandem, meaning they have been brought into position to fluctuate within a certain bandwidth against each other. I belief it is called the Optimum Currency Area.
I want to point out, this system was used to introduce the EMS, the system that locked the European currencies of EEG member-states into position for the introduction of the Euro. In that EMS system currencies could float freely within limits. So, if economic output required devaluation, then that could happen, and would alleviate some of the pressure.
This was ideal for People like Soros, who betted against the Pound Sterling and made it to be kicked out of the system.
One currency area also causes austerity as the only solution to take the differences in economic performance into account. OF course England in the 90-ties, but more recent an example is Greece.
So you seem pretty knowledgeable. What will happen with silver and btc? We know what is happening to the dollar, curious to see what your prediction is.
Read the report slyver made. There are some underestimated gems in there.
One of those is the fact that the game seems to be to setup one organization to focus on longs, and another to focus on shorts. on the backend they work together to keep the price down and controlled.
In the case of precious metals, granted, large consumers are benefiting from low prices. Miners, however, need to have some sort of profit in order to attract investment and keep the ball rolling.
With the ownership of stock example it is easy to see how not only price controls are effectively instituted, but also the development direction. They control it all!
Now your question is what my prediction is regarding bitcoin? My observation from the movement of prices on a day to day level, I can see the lockstep with a bandwidth. Crypto is done pack and parcel of the system.
o back a couple of years, back to the discussion on whether futures / options for bitcoin should and would be come available. The point is that those being vehemently against such a move, feared the takeover by the establishment and the introduction of unwanted volatility.
To many, it will seem as if in that moment Bitcoin came to live, and became sexy. Think back to product life-cycles. Sexy is the stage in which a product is simply accessible for mass-adoption. And that is were we are.
Crypto is a trap. It is made part of the complete digitization of you. Americans may think it is not the case. I do not blame you. The advantage is many things are still decentralized.
For those living in Europe, especially in Belgium, The Netherlands, Germany, Nordics, the digitization is quite progressed.
If you were to try to get a contract for energy delivery, it is all digital. IF you try to get a passport, ID, social security, health-insurance, car-insurance, insurance in general, bank-account, library card, anything really.
It is worse in Flanders. The government approved the use of digital-addresses. meaning that if .gov sends a formal message to your digital-address, it is supposed to be due process. There is no signature, nothing on it. Not even the name of the person making decisions.
Governments have access to your bank-account information, any bank-account. So if the need arises to take money out of your account, they simply do it. And there are a host of reasons to do it. Think money laundering and terrorism financing. It is simply a regulatory framework in which they allow themselves to do anything.
Overlaid with this, is of course the EU. EU desperately wants to become a real state. So, it needs: taxing power, police force, military force.
Imagine, that all EU member states have signed up in 2014 to the EMS treaty, which provides for a extra judicial European bank, full consular immunity, they cannot be sued, and if this institution expects money to be paid, it simply can send a message to any member country saying: you are obligated to pay 50 billion Euro within 7 days of this notice. Thank you very much.
The only thing that stands between global hegemony on the one hand and freedom on the other is one simple thing:
My "stack" is around 800 ounces and growing! Keep stacking while the price is low pedes!
🚀🚀🚀🚀🚀
More Serious Than I Thought (Silver)
The real problem is that BofA may now be short 800 million oz of physical silver without a chance of ever being able to pay that silver back, except at much higher prices – as it must do someday. At least, that’s the way I see it – based upon public data from the US Treasury Department and my knowledge of how nutty are these precious metals loans.
The seriousness of this issue is rooted in the scale of the numbers. If Bank of America is short 800 million oz of silver, as the data in the OCC report strongly suggests, then that means every dollar higher in the price of silver translated into an $800 million open (unrealized) loss. Every $10 move equates to an $8 billion loss. A hundred dollar move higher from here equates to an $80 billion loss. Can BofA fund such losses or will taxpayers be called upon to bail the bank out? Even the slightest hint of such a development should be enough to require immediate clarification from the regulators and BofA and there’s a lot more than the slightest hint in the OCC report. https://silverseek.com/article/more-serious-i-thought
Where do you suggest buying silver? If you don't mind me asking!
Watch out for "German Silver"! It's actually a silver alloy, not worth nearly as much. I've known a number of "stackers" that got burned with it. Will say it right on the piece.
Make sure it says .999 or .9999 silver on the bar/round/ingot.
Thanks for the tip!
All the major online dealers are good sd bullion, apmex,jm bullion. You can go t r/wallstreetsilver and read the DD posts.a lot of us are over their and other based frens.
silvertowne.com --one of the top 5 in minting silver and if you go to their storefront in Indiana they always have deals on site. volunteerpreciousmetals.com ---guy in Tennessee who has been selling silver and gold for decades-trustworthy- I have used both of these and recommend, I am not associated with them , just a customer
So the silver I bought is from silvertowne! Figured I couldn't go wrong with Indiana.
https://www.learcapital.com/
JM Bullion and SD Bullion are both reputable with good service.
Interestingly I cannot buy silver in one ounce bars now without paying an insane premium of almost 2x the sale cost from my usual supplier here. Silver supplies are plummeting into the ground, and I'm having to diversify again generally.
Can someone explain, what does this mean. Should we be buying or selling BOA?
Buy, because the powers that be are driving the price down, in order to cover their asses. It's our opportunity.
Buy physical silver and if you'd like buy puts on BOA (symbol BAC.)
When you look at the figures, you' ll notice more and more paper is needed to notch the price of silver down a bit. The correlation between less paper and price rises vs more paper and price decreases is apparent.
The other interesting tidbit, especially when you would plot the silver price on the same graph as provided, you will find a threshold figure of about 30$ per ounce.
Above is panic mode.
You' ll find the graph I am talking about here: https://files.catbox.moe/bk81i8.png
The is leading part of these figures is they do not convey the day to day battle to keep Silver under 30. For that you can go to Tradingview.com, goto charts and choose XAG/Dollar, and daily chart.
Zooming out, which is often NOT done by these financial gurus, you will notice something else. The assets: EUR/Dollar, Silver/Dollar, Silver Euro, BTC/Dollar, ETC, are now moving in tandem, meaning they have been brought into position to fluctuate within a certain bandwidth against each other. I belief it is called the Optimum Currency Area.
I want to point out, this system was used to introduce the EMS, the system that locked the European currencies of EEG member-states into position for the introduction of the Euro. In that EMS system currencies could float freely within limits. So, if economic output required devaluation, then that could happen, and would alleviate some of the pressure.
This was ideal for People like Soros, who betted against the Pound Sterling and made it to be kicked out of the system.
One currency area also causes austerity as the only solution to take the differences in economic performance into account. OF course England in the 90-ties, but more recent an example is Greece.
So you seem pretty knowledgeable. What will happen with silver and btc? We know what is happening to the dollar, curious to see what your prediction is.
For system knowledge purposes I am linking to this thread. https://greatawakening.win/p/140voQhJJB/have-you-ever-heard-of-megacorp-/
Read the report slyver made. There are some underestimated gems in there.
One of those is the fact that the game seems to be to setup one organization to focus on longs, and another to focus on shorts. on the backend they work together to keep the price down and controlled.
In the case of precious metals, granted, large consumers are benefiting from low prices. Miners, however, need to have some sort of profit in order to attract investment and keep the ball rolling.
With the ownership of stock example it is easy to see how not only price controls are effectively instituted, but also the development direction. They control it all!
Now your question is what my prediction is regarding bitcoin? My observation from the movement of prices on a day to day level, I can see the lockstep with a bandwidth. Crypto is done pack and parcel of the system.
o back a couple of years, back to the discussion on whether futures / options for bitcoin should and would be come available. The point is that those being vehemently against such a move, feared the takeover by the establishment and the introduction of unwanted volatility.
To many, it will seem as if in that moment Bitcoin came to live, and became sexy. Think back to product life-cycles. Sexy is the stage in which a product is simply accessible for mass-adoption. And that is were we are.
Crypto is a trap. It is made part of the complete digitization of you. Americans may think it is not the case. I do not blame you. The advantage is many things are still decentralized.
For those living in Europe, especially in Belgium, The Netherlands, Germany, Nordics, the digitization is quite progressed.
If you were to try to get a contract for energy delivery, it is all digital. IF you try to get a passport, ID, social security, health-insurance, car-insurance, insurance in general, bank-account, library card, anything really.
It is worse in Flanders. The government approved the use of digital-addresses. meaning that if .gov sends a formal message to your digital-address, it is supposed to be due process. There is no signature, nothing on it. Not even the name of the person making decisions.
Governments have access to your bank-account information, any bank-account. So if the need arises to take money out of your account, they simply do it. And there are a host of reasons to do it. Think money laundering and terrorism financing. It is simply a regulatory framework in which they allow themselves to do anything.
Overlaid with this, is of course the EU. EU desperately wants to become a real state. So, it needs: taxing power, police force, military force.
Imagine, that all EU member states have signed up in 2014 to the EMS treaty, which provides for a extra judicial European bank, full consular immunity, they cannot be sued, and if this institution expects money to be paid, it simply can send a message to any member country saying: you are obligated to pay 50 billion Euro within 7 days of this notice. Thank you very much.
The only thing that stands between global hegemony on the one hand and freedom on the other is one simple thing:
The physical metal bugs: