Welcome to General Chat - GAW Community Area
This General Chat area started off as a place for people to talk about things that are off topic, however it has quickly evolved into a community and has become an integral part of the GAW experience for many of us.
Based on its evolving needs and plenty of user feedback, we are trying to bring some order and institute some rules. Please make sure you read these rules and participate in the spirit of this community.
Rules for General Chat
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Be respectful to each other. This is of utmost importance, and comments may be removed if deemed not respectful.
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Avoid long drawn out arguments. This should be a place to relax, not to waste your time needlessly.
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Personal anecdotes, puzzles, cute pics/clips - everything welcome
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Please do not spam at the top level. If you have a lot to post each day, try and post them all together in one top level comment
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Try keep things light. If you are bringing in deep stuff, try not to go overboard.
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Things that are clearly on-topic for this board should be posted as a separate post and not here (except if you are new and still getting the feel of this place)
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If you find people violating these rules, deport them rather than start a argument here.
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Feel free to give feedback as these rules are expected to keep evolving
In short, imagine this thread to be a local community hall where we all gather and chat daily. Please be respectful to others in the same way
Rules For the rest of the Site also accessible on the sidebar.
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Spot silver 58.01
We were tamped down to 57,but came back strong.
Hedges and banks are fuked.
Im retarded when it comes to banks and financial institutions. Why is it bad for banks if metal is up?
They sold the silver for way less than the current price. And they sold hundreds of million oz when the total stockpile for delivery is about 125 million.
And its not just them,many other banks are short on silver. If they try to buy to cover their short position the price moves up into the hundreds.
Maybe thousands.
Ah, so they sold at a low price, expecting to buy back a lower price, but the price soared, and now if they try to buy back, they're gunna lose big time. And silver just keeps going up so they cant buy back, and if the do, it just goes up even more.
They will be squeezing themselves when they buy back for delivery or because they are so negative on their balance sheet.
I read that bank of America is insolvent at 75 per oz.