Reddit-triggered buying led to a frenzy in silver, making for a significant event that lifted prices to eight-year highs. While the price has since come back down, many experts expect more craziness, predicting that the silver squeeze drama isn’t going anywhere.
“If you look at the palladium market, it will tell you how this silver drama will play out; palladium was managed and manipulated for years,” best-selling author of the Big Reset Willem Middelkoop tells Daniela Cambone.
“The physical demand became so large that it overwhelmed the paper shorts... and the palladium price went up fourfold.”
He considers this a playbook for what will happen to silver, noting that, while central banks can solve many crises, "they can’t print more silver– just like they couldn’t print more palladium.”
Noting that the popular iShares Silver Trust ($SLV) needs to source metal to meet the demand, he warns, “tricks are being played— the amount of silver they need to fund is physically impossible.”
IVR Price at posting:
8.8¢ Sentiment: Buy Disclosure: Held
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