Silver at most moves small amounts, not "hundreds".
Basically says the silver market is manipulated to crush retail investors.
Nothing to see here unless you’re a conspiracy fan or somebody more legitimate says something.
>The seriousness of this issue is rooted in the scale of the numbers. If Bank of America is short 800 million oz of silver, as the data in the OCC report strongly suggests, then that means every dollar higher in the price of silver translated into an $800 million open (unrealized) loss. Every $10 move equates to an $8 billion loss. A hundred dollar move higher from here equates to an $80 billion loss. Can BofA fund such losses or will taxpayers be called upon to bail the bank out? Even the slightest hint of such a development should be enough to require immediate clarification from the regulators and BofA and there’s a lot more than the slightest hint in the OCC report.
The silver market has been cornered before, in the 1980s, quite famously, in an event that moved the price by a factor of ten (order-of-magnitude).
Having said that, some articles are a bit slow on comments, I don’t find that odd.
The descent into naked oligarchy continues.
Given their lack of capability to produce this good, they have taken about $18 billion risk assuming they are able to manipulate the market with more strength than the buyers.
I cannot imagine how this level of risk is acceptable… without a massive taxpayer footed fallback plan