1.1 billion paper ounces of paper silver sold,price only drops 6%
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If you own a paper ounce of silver, you own the possibility that there might be an ounce of silver backing it. Actually you own a piece of paper.
Actually, you own exactly and precisely nothing. The piece of paper is owned by the DTC.
Didn't buy paper silver but that's ok bc I've already got paper dollars backed by nothing
Lol! Nice
I’ve got silver but I am a newbie to all of this. Who buys paper silver anyway? How does selling tons of it bring the cost of real silver down, Just fooling people into believing there’s a lot more than there actually is? Since I’ve got a good bit of silver I’m just trying to understand all of the craziness that is going on with it lol. Thanks
They sell paper silver on the futures market,to maybe deliver actual silver in the future. Right now we are in backwardation people are paying more today on the futures market to get silver today,usually it's the other way around.
Um, yeah...paper. So what?
No real change,someone is digging a deeper hole.
I've never seen,anything like it. Things are getting spicy.
Hope they keep digging
A little context for the silver market. With that volume of sells,we are doing very well.
https://www.reddit.com/r/Wallstreetsilver/comments/1pytar0/comex_volume_is_astronomical_there_is_not_that/
Sorry for the reddit post,that's all i have.
1 doller backwardation is now on the menu.
https://www.reddit.com/r/Wallstreetsilver/comments/1pyuqmq/backwardation_is_back_among_other_things/
Just do not put all your eggs in one basket and try to get rich quickly. Silver has crashed hard before and may again.
Agree.and with physical silver we are just here for the ride. It's not like we can push a button and sell it.
can somebody explain who would buy a billion of paper silver? or why?
To try and drive down the price. Ain’t happening cause NCSWIC
Someone who wants a lot of silver in the future,or who wants to wreck the banks,is my guess. They will be slow buying ,most of them back in the next few weeks is my guess,and the price will,do a controlled rise.
Banks do in order to manipulate the price for their profit.