The Silver Futures (SIG21) expiry date on the Comex is next Wed 24th. Unlike ‘options’ where you have the right but not the obligation to exercise your right to purchase (settle), ‘futures’ are a different kettle of fish……………. or should I say in this case, a handful of lit sticks of Dynamite! These futures MUST BE SETTLED.
The banks that have shorted these futures contracts are down the toilet to the tune of $14+ billion of rapidly devaluing USD toilet paper....
These arrogant, manipulating & criminal ‘shorters,’ started digging their grave back in Sept 2019. Their graves has gown deeper and their coffins much more expensive, since then.
Their ‘partner in crime’ for many years (JPMorgan), managed to get out of their short position around late 2019, leaving these remaining ‘amateur’ manipulators to their own devices.
These bullion banks may well set off the inevitable domino effect of other banks cascading into liquidation.
Regardless, this lengthy regulator sanctioned silver price suppression, is coming to an end sooner than most anticipate. It is going to start getting VERY ugly from mid next week on.
SVL Price at posting:
25.5¢ Sentiment: Buy Disclosure: Held
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