🚨Why the Cartel Bullion Banks Continue to Ruthlessly Smash the Price of Silver Every Time It Nears $60🚨

It's not the silver, it's the derivatives!

Wednesday night into Thursday, the silver market experienced 6 vertical smash-downs as silver prices crept up towards $60.

The most blatant attack occurred this morning, after silver had closed ABOVE $60/oz in Chinese trading. The bullion banks went to work as soon as London opened, but silver prices wouldn't stay down.

As silver started to re-accelerate to the upside, and neared the critical $60/oz level, the bullion banks unleashed their fury yet again.

Prices were smashed from $59.895 to $58.47 on MASSIVE volume.

It is clear that the bullion banks have drawn a line in the sand at $60, & are defending this level much more strongly than even the all-time high of $49.45.

Does something BREAK with #silver prices above $60/oz? Is that something related to the derivatives market?

Silver Is the Achilles’ Heel of the Fractional-Reserve Precious Metals Paper Market

The COMEX silver futures market is leveraged anywhere from 100:1 to 300:1 in real metal terms.

There are typically only 80--120 million ounces of registered (deliverable) silver in the entire COMEX warehouse system, yet open interest regularly exceeds 800 million to 1 billion ounces when measured in total contracts.

The entire pricing structure of the world’s silver market is therefore built on a tiny sliver of physical metal backing an ocean of paper claims.

If silver ever broke out and stayed above $60, $75, or $100, the physical delivery demands would explode.

Miners, industrials, jewelers, and investors would stand for delivery in unprecedented size, and the vaults could be drained in weeks.

That would expose the fractional-reserve fraud for what it is and force a settlement at prices multiples higher than today.

The bullion banks cannot allow that contagion to start. It's all about preserving the current global monetary system that's run & controlled by a few elite bankers.

A Derivatives Chain Reaction That Threatens the Entire System

The same banks that dominate COMEX short positions also run massive OTC precious-metals derivatives books for clients (hedge funds, central banks, sovereign wealth funds, mining companies).

Hundreds of billions (some estimates say trillions) in notional value of swaps, leases, forwards, and options are priced off the COMEX/LBMA spot price.

A violent short-covering squeeze in silver would reprice that entire derivatives stack overnight.

The banks would face mark-to-market losses measured in tens or even hundreds of billions of dollars, losses that would ripple through their prime brokerage units and potentially require taxpayer bailouts again.

Keeping silver suppressed is literally a systemic risk issue for them.

But while the bullion banks defend the $60 level like its the Alamo, silver continues to relentlessly grind higher every time China opens.

Forget the COMEX and the globex this afternoon and Sunday night.

Keep an eye on Shanghai when trading resumes next week. If China pushes the price of silver to $62 or $63, the bullion banks won't have enough fingers to stick in the dam to prevent the flood of silver demand from overwhelming their suppression schemes.

https://x.com/silvertrade/status/1997017152381984891