to around $30 an ounce—its biggest one-day move since 2009—after becoming the latest target of the individual investors who spent last week foiling Wall Street’s short bets. By coordinating security purchases online, these amateur day traders have triggered surges in unloved stocks such as GameStop , BlackBerry and American Airlines .
“Silver Bullion Market is one of the most manipulated on earth,” user RocketBoomGo wrote Saturday on Reddit,to push the silver price up to $1,000. “Any short squeeze in silver paper shorts would be EPIC. We know [that a] billion banks are manipulating gold and silver to cover real inflation.” The Reddit crowd may have—so far—been successful in upending the market for little-traded stocks. In the far more liquid silver market, though, they may have worse luck.
Previous attempts to corner the silver market have failed. Back in 1979, three of the sons of Texan oil billionaire H.L. Hunt managed to push silver prices up eightfold, only for them to crash following a change in rules on leveraged purchases of commodities—notably on March 27, 1980, known as “Silver Thursday.” That happened despite the Hunt brothers owning more than a third of the world’s non-governmental supply of silver, which speaks to the difficulty of manipulating this deep market.
jonsindreu Every time I see this Silver nonsense mentioned I lose a bit more respect for journalists. 10 mins browsing wsb would debunk it.
jonsindreu Fake news
jonsindreu Yikes, actually we don’t care about silver. This is rich people trying to do to silver what is peasants did the GameStop.
jonsindreu Which one of you hedge fund bros is running this mad backwards cunt account?
jonsindreu MSM 🤡 News fakenews all day long
jonsindreu ALL PROPAGANDA. DONT BUY
jonsindreu '...seems you are lying.'
jonsindreu This is GARBAGE NO ONE is pushing the idea of Silver not last week, yesterday and DAMN sure not TODAY. But WHAT is being done is BS market manipulation by the Greedy bastards who lost now stop your buying power and money. FREEMARKETMYASS
jonsindreu Meanwhile Titanium Palladium
jonsindreu Gtfo with the silver bs
jonsindreu No one was interested in this. At all.
jonsindreu fakenews journalismisdead wsj is nothing more than propaganda
jonsindreu some straight-up supervillain shit right here
jonsindreu How much did they pay y'all to slander retail investors more? WSJ is a joke!
jonsindreu Silver has been recommended as the go to buy for 6 months. This is old news.
jonsindreu The media doesn’t understand the American people AT ALL. Remember this WSJ. I can assure you, the people who know your lies will not forget.
jonsindreu 😂😂😂 NICE TRY KAREN. Precious metals are for boomers. ONLY $GME AND $DOGE
jonsindreu There is no “Reddit push” for silver.
jonsindreu $GME 🚀🚀🚀
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jonsindreu This is a blatant lie, thought you guys had standards, guess they went down the drain when you were paid to spread this.
jonsindreu For a newspaper that reports on the most complicated financial market in the world y'all sure are idiots. GMEstock
jonsindreu Fake News.
jonsindreu Fake News! U not gonna get us with this🤡
jonsindreu The subreddit is largely interested in stocks, not commodities. I often enjoyed getting my economic and finance news from WSJ, sad to hear they jumped on the media bandwagon making false claims that this was caused by these retail investors.
jonsindreu jonsindreu I am so disappointed in the lack of verification in this story. Reddit's WSB is NOT pushing Silver, in spite of all the bots trying to do so!
jonsindreu 不打自招