Silver got whacked 75% increase in margin on Christmas Eve so there is no way to wire money, and 45 minutes later CFTC announced 5000 position limit and they still got stuffed. The old guard is broken.
The exchanges do typical shenanigans to restrict the price from getting out of control for their liking. They can arbitrarily raise reserve requirements and put position limits that only benefit the short sellers and force liquidations. Those that have borrowed to go long on silver, need to have higher reserves on hand in order to sustain their trades. They raised reserve requirements on Christmas eve, where you can't wire the money to meet that new requirement because of the holiday. The forced 5000 position limit meant that anyone who has a position over that limit would have to be force liquidated, yet surprisingly the price surpassed the 75 dollar defensive line.
Silver got whacked 75% increase in margin on Christmas Eve so there is no way to wire money, and 45 minutes later CFTC announced 5000 position limit and they still got stuffed. The old guard is broken.
Looks like it.
translation into english?
The exchanges do typical shenanigans to restrict the price from getting out of control for their liking. They can arbitrarily raise reserve requirements and put position limits that only benefit the short sellers and force liquidations. Those that have borrowed to go long on silver, need to have higher reserves on hand in order to sustain their trades. They raised reserve requirements on Christmas eve, where you can't wire the money to meet that new requirement because of the holiday. The forced 5000 position limit meant that anyone who has a position over that limit would have to be force liquidated, yet surprisingly the price surpassed the 75 dollar defensive line.