But of course our prices reflect what is happening in the wider marketplace, so IF silver shorts are being squeezed elsewhere, and prices generally rise, the price at BullionVault will rise with it.
Our system excludes both short selling and silver borrowing. On the social media site where this silver short squeeze story has been mentioned, BullionVault has been referenced as one of the best places to invest in silver, and we have seen an enormous increase in customer interest. A few words may be necessary in the context of the current week, at the start of which a rumour is circulating on social media that a short squeeze situation is developing in silver. The pop in silver prices came as fast as it went, and New Year 2021's surge in demand, most clearly for the giant iShares SLV silver ETF, was reversed within 5 months.
#Silver short squeeze update#
His book, The Silver Manifesto, is also available for purchase with digital silver through the platform.This trading update was posted and highlighted for all BullionVault users and visitors to read as the #silversqueeze movement on social media sent prices soaring amid the heaviest new interest on record. His insights are available through a paid membership, which can be purchased with AGX through LODE’s premier online marketplace, AGX Markets. Morgan is the chief editor of the Morgan Report, a monthly newsletter covering the global economy and the precious metals and rare earth elements markets. “I think most everything will be digitized, including the precious metals, and that’s something that was unavailable to me in my 20s and unavailable until even recently.” “I’m looking forward to this building out even further, and I think it’s the future,” he said. Now, he says he’s excited to see the increased liquidity of digital gold and silver, as it will soon be possible to purchase cryptocurrency like Ethereum with LODE’s digital assets. In 2019, Morgan was the first person to ever pay for physical goods using AGX (digital silver) when he purchased a cup of coffee at Anarchapulco. “The problem is that the emperor has no clothes, and the people all know it now that the solution is pretty obvious, and now with enough people with that knowledge to take action, it’s inevitable.” “I believe strongly that they’ll gravitate toward the real asset class, as there’s nothing superior for a highly inflationary depression than the silver market,” he stated.
Still, he believes that the real value lies in precious metals, particularly in silver, and the recent attempted silver squeeze represents an important milestone: more awareness. “But it’s coming, whether it happens now or whether it happens later, the inevitability of the fact is that all fiat fails.”Ī testament to the crippling value of fiat currencies, said Morgan, was the recent increased interest in alternative currencies, such as cryptocurrencies like Bitcoin. “Right now, there’s a lot of pressure on silver, and we haven’t even seen the end of the dollar in the near term,” he continued. Known in the industry as the silver guru, he noted that bullion dealers had already seen an intensified amount of buying pressure in recent weeks. “The big picture that I have stressed from day one is that we are getting near the end of the great currency reset when this currency crisis manifests further, people are going to run to gold and sprint to the silver market, and that will overwhelm it.” “Whether the silver squeeze continues or not now, it will in the future,” he said. Just one week after a subreddit group, WallStreetBets, showed the world the power in numbers to move financial markets, the precious metals market received a renewed focus.ĭavid Morgan, the precious metals aficionado and ambassador for the LODE Project, spoke to LODEpay Media to discuss silver’s recent price surge. On the first day of February, the silver price reached heights it hadn’t seen in eight years, climbing just above the $30 an ounce mark.
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