Official ODT Silver Thread

[uzzo2]

I was wondering if anyone here could recommend a reputable seller for pure silver wire/electrodes suitable for making colloidal silver with. I bought some years ago and need some new ones but the guy I got them from is no longer in business. TIA for any help!

 

[Shotgun Surgery]

With the news out that Bank of America is short 800,000,000 ounces of silver, this graphic seems appropriate.

 

[Horsehat]

With the news out that Bank of America is short 800,000,000 ounces of silver, this graphic seems appropriate.

View attachment 3832791

They just keep changing the Comex rules so the piper don’t have to be paid.

 

[Shotgun Surgery]

They just keep changing the Comex rules so the piper don’t have to be paid.

It's not that they owe 800,000,000 ounces of physical, is that they're shorting the stuff. They're betting the price will go down. Usually putting massive shorts like this makes the price go down, at which point they cash in on the shorts and then use the proceeds to buy the contracts and ride in on the way back up. However, even despite almost a billion ounces being shorted the price of silver is absolutely refusing to go below $20; if this much shorting was done a few years ago the price would have likely gone sub $10 or even sub $5. Something is different this time. It seems that Bank of America has been designed as the bag-holder for this financial disaster, as other banks like JP Morgan are transferring their short positions to Bank of America.

The long and short of it is this: for every dollar silver rises above the short position, anyone shorting silver loses a dollar. Considering Bank of America has 800,000,000 short positions, likely at different prices but probably a considerable amount of them set at already very low prices, that means that for every dollar silver's spot price rises BoA is going to lose about $800,000,000. If we see silver explode to almost $30 then BoA will lose billions of dollars. If Silver actually reaches $30 then it will likely be on an unstoppable uptrend to re-test the previous nominal all time high of around $50, at which point BoA would lose tens of billions of dollars because of this short position. This would make the GME short look like preschool playground scuffle.

The only way BoA can avoid this is if they can unwind their short position before silver's spot price does any rising, but the issue is that the only reason why silver's spot price is so low is BECAUSE of all of the shorting that they do. Essentially, they either have to not double, not triple, but whatever 800,000,000-down is called on shorting to prevent the prices from rising, which makes them even more vulnerable to rising prices, which makes them have to short more, which makes them more vulnerable, which makes them short more, and you can see this is a vicious cycle.

 

[jonesiv]

that means that for every dollar silver's spot price rises BoA is going to lose about $800,000,000.

 

[Horsehat]

It's not that they owe 800,000,000 ounces of physical, is that they're shorting the stuff. They're betting the price will go down. Usually putting massive shorts like this makes the price go down, at which point they cash in on the shorts and then use the proceeds to buy the contracts and ride in on the way back up. However, even despite almost a billion ounces being shorted the price of silver is absolutely refusing to go below $20; if this much shorting was done a few years ago the price would have likely gone sub $10 or even sub $5. Something is different this time. It seems that Bank of America has been designed as the bag-holder for this financial disaster, as other banks like JP Morgan are transferring their short positions to Bank of America.

The long and short of it is this: for every dollar silver rises above the short position, anyone shorting silver loses a dollar. Considering Bank of America has 800,000,000 short positions, likely at different prices but probably a considerable amount of them set at already very low prices, that means that for every dollar silver's spot price rises BoA is going to lose about $800,000,000. If we see silver explode to almost $30 then BoA will lose billions of dollars. If Silver actually reaches $30 then it will likely be on an unstoppable uptrend to re-test the previous nominal all time high of around $50, at which point BoA would lose tens of billions of dollars because of this short position. This would make the GME short look like preschool playground scuffle.

The only way BoA can avoid this is if they can unwind their short position before silver's spot price does any rising, but the issue is that the only reason why silver's spot price is so low is BECAUSE of all of the shorting that they do. Essentially, they either have to not double, not triple, but whatever 800,000,000-down is called on shorting to prevent the prices from rising, which makes them even more vulnerable to rising prices, which makes them have to short more, which makes them more vulnerable, which makes them short more, and you can see this is a vicious cycle.

 

[Horsehat]

In a world where free market capitalism was allowed to work this would be the case or in a world where shorts had to be a realistic number according to what is available to trade. I have watched the big 5 banks short silver for years waiting for a day of reckoning which has not yet come and I am becoming more certain it won’t. Comex can declare force majeure if silver is unavailable and settle the contracts in cash at what amounts to an arbitrary price, generally where the short will still make money.
what we are going to see is the price of physical silver disconnected by premiums from the price of contract silver in a greater and greater spread. contract silver is to a large degree non-existent, being only a transaction record.
this shenanigans is occurring with the full blessing of the U.S. government who has an interest in keeping the silver price depressed to make it appear the dollar doesn’t suck as much as it really does. this stratagem will continue to work until one day it doesn’t, at that point the big fish will have solidified their positions in non-dollar denominated assets, real pm’s, real estate, whatever, and will be sitting on a beach somewhere and watch the fireworks, weeping, nashing of teeth, condemning tirades from politicians who took pay offs to allow it happen, from afar. The little guy trading in paper assets will lose his butt. The people who hold physical assets will be fine.

 

[Horsehat]

Ted Butler: Bank of America's silver short position is even larger than he thought | Gold Anti-Trust Action Committee | Exposing the long-term manipulation of the gold market

gata.org

 

[edzackley]

Do we know if all the short sale positions by BofA are on behalf of the bank itself, or in accounts of investors taking a short position, or both?

 

[Jeddak]

Do we know if all the short sale positions by BofA are on behalf of the bank itself, or in accounts of investors taking a short position, or both?

Or on behalf of companies that paid BOA to buy silver for manufacturing.
IIRC banks are paid X amount of dollars to buy Y ounces of silver and gold a year. Lower the price, more money banks pocket as profit.