Reddit Physical Silver Frenzy, any basis in fact

Is anyone still following the silver market?

I recall in the old SonnyPage days there was a lot of interest in silver here.

Just by chance I have seen posts on Reddit that are in a frenzy about the amount of physical silver being taken out of the large storage vaults.

Silver has always attracted a lot of fridge and conspiracy thinking people and Reddit tends to attract a lot of dubious posters but it did get my curiosity up even though the price of silver is not up.

When Googling about the silver market mainly what I find are more fringe websites.

Does anyone have any insights about if there is something actually going on with the physical silver markets or if it is just hype.

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The only truth that I can see, there can be a bull market, is that the major central banks have to go to buying bonds into this winter/spring because of possible defaults like we were beginning to see in the UK. The printing of money will be good for the metals and commodities in general.

My statement is not quantified mind you. How good is unknown.

As far as Reddit or blogs…those guys would be bullish if they were hit by a bus. It is next to meaningless talk.

I agree that the post on Reddit are not “worth the paper they are printed on” and making predictions about things like silver prices is hard since in theory at least everything known should already be included in the market price.

The thing that is nagging me though is the way they are going on about drawdown in the physical silver at the large vaults like COMEX feels different and could be a situation where it actually means something.

Of course it is also possible that the Reddit crowd being excited about silver is the tail end of the “greater fool” theory and is a sign that the price of silver is about to collapse when the supply of greater fools runs out.

I just don’t understand it but it feels like something is going on. They say to never invest in something you don’t understand so I will most likely just be a spectator on whatever happens.

Feels like something is going on? That is the suggestion alright.

I do not know how many decades ago but one of these guys decided the US Treasury had not audited its gold reserves so there were no gold reserves.

How stupid. Of course the US Treasury has audited its gold reserve.

Yet every goldbug(oh how dare I go there calling them goldbugs the ultimate not politically correct statement) thinks the US Treasury has no gold…“they need to count it and tell us”…frankly they have counted it and told us.

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My question is how do they know? And are these the same people who, as Leap1 mentions, believe that Fort Knox is devoid of any gold bars?

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Bloggers are what are known as marketers/sales people…slash wannabee in the know/but aren’t…and will never care if they make things up. Because fiction is an artform.

Chesme for all

oh it is not a blog? It is a website…really? That changes nothing.

See the FED or US Treasury for the actual information.