Context: some people at WSB are getting bit by an absurd silver bug and it will probably get pretty nasty for them two weeks from now. Thankfully, most of WSB is strictly limiting their madness to GME for as long as the GME situation lasts and the silver bugs have been called out for being unusually loony.
Regardless, I felt like this William Jennings Bryan meme was clever. Give me internet validation.
edit: Citadel is the 5th largest shareholder in $SLV so all the dumb hype is from hedge fund bots, you should definitely not get into that
obligatory this is not financial advice
They’re going to be forced to liquidate assets because of GameStop. They will try to distract you with anything
SLV is owned by Citadel (i think the 5th largest holding in SLV). wallstreetbets is getting hit with a shit lot of bots for SLV
Gold has been highly inflated for a long ass time because there are far more gold bugs than silver bugs out there (consider the entire Ron Paul fan club and their precursors). It’s a bit mistaken to pin silver’s relative cheapness to gold entirely on JP Morgan’s manipulation (like the WSB silver bugs do) when gold is practically deified by so many boomers.
That all said, I think it’s amazing how the modern era has made precious metals like silver accessible to common people. I’ve been diving into Bronze Age history lately, and acquiring silver outside of Mycenae (Greece) was quite a headache.
Honestly, I think central banks play a larger role in propping up the price of gold than gold bugs. Central banks hold around 18% of all the above ground gold in their reserves and have agreements with themselves to limit selling to keep the price stable.
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