12. An Extraordinary Event Just Happened In Silver

Welcome to RIGGED, the podcast that helps you RIG the wealth game back in your favor. I’m Terry Sacka AAMS of Cornerstone Asset Metals.

(00:05):
This is RIGGED. I’m Terry Sacka. Today, we are going to talk about the extraordinary or an extraordinary event that took place in the COMEX silver market. The reason this is important is because the price of silver has not moved really. I mean, we all know that follows precious metal, considering that of gold gold finally broke above the $1,770 level and hit the $1,800 mark only about a hundred or so change away from the all time high. Since the gold line that was broken about a year ago at 1350 gold has been up about 30%. Now this is significant because if you just look at the last 20 years, really, since the year 2000 gold has significantly outperformed the only outperform, not only the stock market, but Warren Buffet himself, the darling of stock market world, right? Something advisors don’t want you to know, have you just would bought gold 20 years ago and held onto it.

(01:06):
You would be up significantly more than you are today. Taking into account. You just traded the market index. We’re talking well North of 75 to 100% more. So all you had to do was buy gold and sit back and relax. Think of the piece of mind you would have had, and they don’t want you knowing that. And it all is do not so much that gold is going up, but that the fact that the currencies have been printed and debt has been issued globally in an unbelievable fashion, really since 2008, while really since 2000, but 2008 was the big one. So why silver? Why now? Ever since the COVID collapse, gold and silver and the supply side has had tremendous pressure. And at one point gold bars, institutionally, the ones they actually use on the exchange were unavailable. Really the exchange was in almost default mode and, but sources of mine in Switzerland were saying all they were producing were 400 ounce gold bars to supply the market for going all, look, small investment products, one ounce coins, bars, things of that nature.

(02:16):
They were just mass producing as much as they could, 400 ounce industrial commercial bars. Silver also had its day. It had strong demand, but you didn’t really hear about it. Most of us in the industry kind of talked it up to the supply with a supply trouble to kind of a low in the workforce and problems in transportation. We knew there were warehouses of silver, but no one could go drive there and pick it up. Now I knew deep down there was more to it and the demand was really serious or just that well, put it this way just as last week in the COMEX where the silver futures contracts was, should be real price for discovery of physical metal, but is not once they melted into the derivative world and kind of all went away. The silver price is no longer real because of the heavy naked, short manipulation in the market.

(03:15):
And derivatives are things that they can believe it or not. We, you know, most people it’s hard to believe, but they can actually sell thousands and millions and millions of ounces of silver that they don’t even own. They say they’re providing liquidity to the market, but it’s really ridiculous. What they’re really doing is stealing. They’re manipulating the price for profit because it should have been the, the, the COMEX should have been the real price discovery for physical, but it’s no more, no longer that way, the silver price is no longer real because of the heavy, naked, short positions. But those that are in the real physical world continue to see extraordinary physical demand. That’s what was so shocking about the big collapse during the COMEX collapse, we had tremendous physical silver demand, and yet they were able to collapse the price from near 19 down to 12.

(04:09):
I almost think it borders on the line of criminal. JP Morgan sold like 1.5 billion ounces at the top to crush the incentive to buy it. Got to a point there wasn’t a bid folks think about that. And then the price just continued to collapse right down to 12. And then it rebounded. And here we are, again, back at 18, we knew the price wasn’t moving much, but eventually this had to catch up. So this week in one single day, this is what’s so extraordinary is what happened this week. In one single day, the silver futures contracts demanded delivery of 54 million ounces. This is the largest single one day demand in market history. Going back to only the hunt brothers, many of the market probably ignored this well, they would have wanted to anyway, but I’m just telling you as one who is in the physical market business, that this is an extraordinary development.

(05:09):
Number one who is standing for that physical delivery in two, where are they going to get it? I imagine JP Morgan is going to step up. They’re going to have to provide the physical. We all know JP Morgan has been hoarding, physical silver, and some of that could be theory, but most of us believe it. And we know it, but this was only one day, one day, they stood for physical delivery of 54 million ounces folks that just happened this week, that is placing such tremendous pressure on the short positions. In these institutions in banks, the market is struggling to hold this price down. They must keep it below 18. They have already booked large losses. You’re going to find out and hear about it. Soon. Many asks, well, why, why hold it down? What most don’t realize is for decades, big institutional banks like JP Morgan Citibank and specifically Scotia bank have been systematically manipulating the silver market for profit through derivative naked, short trading.

(06:13):
A few weeks ago, Scotia bank announced after a hundreds of years in the business that they were closing their metals trading division. Hm. I wonder why they would do that. This was a lot bigger announcement than most people realize. They said it would take them about nine months to unwind their position, which takes them to November, December. I believe that’s what they’re trying to do is keep this price down as best they can, until they can unwind these positions where I was they’re in deep trouble. These institutional banks have already lost billions and they’re stuck in shorts, unable to keep the price down. Now I think JP Morgan is cleared out. I don’t know about Citibank, but Scotia bank we know are still unwinding. And there is a couple others. There has been a tremendous battle to keep the future’s price below the $18. They need a few more months, but time is running out and the demand is absolutely ferocious.

(07:09):
I highly recommend for those looking to own physical silver, that they get busy taking a position. Now I would get in contact with cornerstone asset metals who sponsors the program and ask them to help guide you through this process, especially with an IRA or four one. Okay. What a great return. You’re going to get in a retirement account now, but you have to understand that you need to take a position now because premiums are already high. Now they’ve come down a little bit, but they’re going to get higher. As demand gets tighter and with the trillions and trillions of new printed currencies and trillions added to debt around the world, due to the COVID collapse, this isn’t helping the banks at all. All currencies globally are in serious trouble. I will not be surprised to see a serious hit to the U S dollar. I believe now this is putting on a conspiracy hat for you, but as some might say anyway, I actually don’t think it’s conspiracy at all.

(08:03):
When most conspiracy turn out to be true, but we’re in a global currency reset one, unlike none of us has ever alive lived through or have seen. I believe we will continue to print money to corporations, bailouts, to citizens and bailouts to banks. We’ve already bailed out the banks in six months to 3.5 Trillion folks. Unfortunately it will fail. We’ve got about two years, maybe three there’s something seriously wrong with how the COVID collapse was handled. The death rate doesn’t match the global panic and the global economic shutdown. It’ll be tough not to say it was by design to take us to the next level of global socialist order. But I do know what many are thinking about this? Well, when many are thinking about this has been building up for some time, all you have to do is look at the economist magazine from eighties that even predicted a new global currency was coming by 2018.

(09:00):
Just remember folks, all Fiat currencies go to zero 100% of the time through history. This time is no different. The question is what is next? One thing is for certain as these currencies collapse, under the weight of extraordinary printing and debt issuance protection with tangible assets like gold and silver are paramount right now. If you want to protect and preserve your future standard of living and buying power in lieu of what we’re seeing in the underground in the physical world, I highly recommend getting positioned now in physical gold and silver, where a very decent portion of your portfolio in savings, because these currencies that you’re holding are going to evaporate in their buying power and going forward. You’re going to regret not having inflation protection and to kind of sign off on this, knowing that this is your, your hope for protection and preservation. What you’re seeing recently in the news.

(09:56):
Now they’re trying to say that it was because people just were using electronic payments through the whole COVID crisis, but there was a shortage of coins. Well, let me just throw a little theory out shortage of coins. Next will be one in fives, because this is what happens when inflation kicks in potentially even hyperinflation folks that banks are in deep trouble. They no longer hold reserves. The whole world is in the midst of a massive global reset and what we saw this week with 54 million physical ounces standing for delivery, let’s wait and watch them try to deliver that one. But until next week I encourage you get engaged, get involved and take it seriously. We have great things happening in America. We can have great things going forward. If we elect the right people, we do have entrepreneurial spirit, but that’s not going to stop the collapse in the system globally and financially, that has to be reset. And only those holding good, solid, tangible assets will benefit during this time. So until next week, God bless each and every one of you!

 

(11:02):

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