Banks Losing Billions In Their Immoral Shorting Silver Gamble
And Yes they will get bailed out when they can't cover the loss.
Open interest 141,580 contracts.
Each contract is 5,000 ounces. 141,580 * 5,000 = 707,900,000 ounces.
Price per ounce is up $1.84 multiplied by 707,900,000 = 1,302,536,000
Gold comex paper shorts are down over 1.5 billion too.
How can just 5 banks be short a years worth of global mining?
The short position of 590 million ounces up to 800 million ounces by 5 US banks represents a massive bet against silver, equivalent to a year's global production.
This creates artificial selling pressure, suppressing prices despite strong industrial demand for EVs, solar panels, military, aerospace and electronics.
The banks' actions distort market signals, making silver appear less valuable than it truly is.
This paradox stems from the disconnect between paper contracts and physical metal. Banks can sell short excessive amounts of "paper silver" without owning or borrowing the actual metal.
This practice allows them to manipulate prices downward, even as physical demand surges and mine supply struggles to keep up.The banks' irresponsible short position is reckless and potentially destabilizing. It exposes them to massive losses if silver prices rise sharply, as they would need to buy back large quantities of silver to cover their shorts.
This behavior undermines market integrity and could lead to a supply crunch, harming industries reliant on silver. Regulators should scrutinize these practices to ensure fair price discovery and market stability
I consider bargain silver a gift. It will realize it’s true value at some point on the not too distant future. In the meantime, every ounce within the reach of the public is one less ounce that can be employed to continue global war and power the nascent AI monster, and that’s a good thing, IMO.
There is 000 missing in your calculation
1,84$ * 707 900 000 = 1,302,536,000 $ as in 1,3 Billion $ + the 1,5 Billion $ NOT in the Xmas bonus ..
Guessing that B O A will by in deep shit monday morning....but hey...Mac D is hiring....