No one knows who the shorts torturers will go after next, but it might be silver shorts. From Mark E. Jeftovic at bombthrower.com:
WSB’s “Army” plan to target “Silver suppression” next
It’s been mere hours since Charles Hugh Smith, Jesse and I finished off our AxisOfEasy Salon 36: Democratizing Stonk Market Manipulation covering the #WallStreetBets situation and things have already morphed in a direction along one of the lines that we speculated was possible: a generalized revolt against financial repression and asymmetric rulesets (a.k.a “rules are for thee, but not for me”).
This is about more than a bunch of weaponized autists (self-described as such) end-running the Wall St. establishment for fun and profit.
Charles called it a “rebellion” at one point. Once it appeared as the the establishment was trying to step into Robinhood and get the hedgies off the hook, as that line in the old classic The Usual Suspects went…
“Then, the whole thing turned political…”
I was busy most of the day yesterday, but I kept getting email alerts that my various silver positions were up 10%, trading up on excessive volume, etc. When I did check the precious metals I noted that gold was down, not by a lot, while silver was making a sizeable move. Not unheard of for this to happen, but it’s not common.
Almost didn’t notice this comment on the Hackernews thread on my WallStreetBets proves the System is Rigged article:
Then a couple hours ago I saw this:
ATTENTION!
Tomorrow our army of retards is going to fight the Suits who have been manipulating the Silvermarket for years!JPmorgan doesn’t give a shit about 1.26 billion fines nor do other fraudulent banks. This has to stop!
Today was only a test!
RT and let the world know
pic.twitter.com/JAKuoS4Yfu
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Leader of the SILVER-ARMY
and that’s when I realized that this thing could get real. A “reverse bear raid” on the $SLV could quite possibly upset more than a few apple carts, and here are the WallStreetBets crew laying out exactly what it entails [archived], and how their self-professed “AoR” could go about it [archived].
Can they do it? Time will tell. Silver up almost 2% on the day and silver stocks are screaming higher.
