[HN Gopher] Reddit Forum Sparks Physical Silver Shortage on Majo...
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       Reddit Forum Sparks Physical Silver Shortage on Major Dealers'
       Websites
        
       Author : ratsmack
       Score  : 14 points
       Date   : 2021-01-31 18:07 UTC (4 hours ago)
        
 (HTM) web link (archive.vn)
 (TXT) w3m dump (archive.vn)
        
       | klyrs wrote:
       | Shoot, I've got about a pound of the stuff in a box collecting
       | dust. If it flashes up to $1000 an ounce, is there any realistic
       | way to offload it for even half that price?
        
         | nickysielicki wrote:
         | If it flashes to _$1000_ an ounce, you 're not going to want to
         | trade your silver for dollars, you're going to be too busy
         | trying to empty your bank account to trade your dollars for
         | _anything_.
        
           | klyrs wrote:
           | That's a stated goal for the squeeze. It's a supply-to-market
           | issue, not indicative of long term demand or massive
           | depreciation of the dollar that you seem to be implying. It's
           | a good opportunity to sell, not a reason to run the bank.
           | 
           | > On WallStreetBets, one user wrote in a highly-upvoted post
           | they want to push up the price for an ounce of silver from
           | around $25 to $1,000 in what they described as the "biggest
           | short squeeze in the world." The post was later deleted by
           | moderators of the group.
        
           | COGlory wrote:
           | Yes - I went through a phase in 2008 where I purchased some
           | metals. Then I quickly had a realization that the forces at
           | play were far too overwhelming for the measly amount of
           | precious metals I could purchase to ever be meaningful. Sort
           | of like that feeling you get when a big wave crashes right on
           | top of you and pins you to the sand. The difference in power
           | between yourself, no matter how built, strong, and good of a
           | swimmer you might be, and the wave, are just so huge, that
           | there really was never any point in trying to resist it
           | anyways.
        
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       (page generated 2021-01-31 23:02 UTC)