Hi Lo Silver


Taiwan is a director and global markets. At the bank of montreal. He wanted us to stress. his comments. reflect his personal opinions and are not the official position of the bank of montreal. So i asked him to give me his thoughts about the very essence of silver. Sometimes we call in our circles the devils metal because when it moves it can sit for a long time and not wrote but when it moves it can move rapidly and with a certain amount of viciousness fed devils metal sunday commodities trading seems way more exciting than it usually does like the devils metal sounds very treacherous so there are several theories that have been bouncing around the market now a bites spike in silver. And why it happened and who is behind it and let's not forget silvers. Thirteen percent swing oviously pales in comparison to the nearly five hundred percent jump in price that game stop stocks or last week. But that doesn't mean that there weren't any casualties in the silver market. Yes there were winners and losers ryan. I asked tie with a maybe that was the whole point. That like with game stop stock. Some traders might have tried to talk up the price of silver with the aim of hurting some big wall street players who are in the silver market. So that's the first theory and it was one that tired hurt as well. The stories made. It's made its way on reddit. Which one was that j. P. morgan was desperately short Silver and would have to cover. This was a way to get a j. p. morgan which is The biggest bank in the united states that conspiracy theory has been around for a long time. It is also a canard jiffy morgan's one of the biggest bullion banks in the world. They lend lot of metal out but they typically do not lend it out uncollateralized they lend metal but you have to give them dollar so while they may be short metal in a location for a short period of time. It's never anything that could come anywhere near to bringing a major bank to its knees much less. Jp morgan so this was already going after j. P. morgan no j. p. morgan not in in the crosshairs got it so theory to then so those. This bows going around. Maybe some of the short seller's who got squeezed on game stop last week have been trying to distract what ty likes to call the red legions to shift their attention and their money and their trading activity to silver. That seems a little farfetched. I think if you were short. Jimmy and amc Entirely consumed with trying to make sure your position workout. You had enough funding the hold as long as you could. I'm not sure if those would be the folks who would open up another another front in the in the war. So to speak against the raiders. You can't dismiss it completely out of hand but that seems fairly unlikely so this wasn't like the short seller's strike back no okay well we'll maybe not or maybe it was just a bad strike maybe just about strike strike so theory three then that some traders who long silver which means that they own it an expected to rise in price. Maybe they kind of infiltrated the the red at message boards in order to jack up the price of silver so that they could then make some money. Yeah they they were like double agents kind of double agents in the market. Exactly that you know. That is an appealing narrative. If you're if you're long and you are and you're trying to push the market with with news like this even though you could certainly great reddit account and use a vpn and try to keep your anonymity. This would clearly be considered. I think mark manipulation. Now i'm not an attorney but this type of thing that might lend a a clever entrepreneur. A long stay in federal penitentiary in. That's pretty that's a pretty steep price to pay if you're a silver traitor and you join read it and say like hey everybody jump into silver. You literally go to jail. You could literally go to jail so that seems like the stakes are a little bit too high for me. That is a high price to pay for the devils medal and indeed. So it's maybe not that either but the fact is that something did happen to silver this week tie. It was like a combination of rumors and the willingness of silver traders to grasp this opportunity that was presented to them by this price surge the mindset of market makers and many traders are. Oh you want to push it. You push as much as you like and once you're done we'll see where we end up in It will go on it. We'll go on trading and doing what

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