Silver Price on the Rise

The markets generally know where things are headed and right now there is a rush to delivery of the physicals. China is leading the charge.

Texas Proposal: 100% Gold and Silver Backed Currency

An interesting development from the Texas Legislature:

https://www.zerohedge.com/commodities/texas-committee-passes-bill-create-100-reserve-gold-and-silver-backed-transactional

On May 2, a Texas House committee passed a bill to create 100% reserve gold and silver-backed transactional currencies. Enactment of this legislation would create an option for people to conduct business in sound money, set the stage to undermine the Federal Reserve’s monopoly on money, and possibly create a viable alternative to a central bank digital currency (CBDC).

Big Silver Squeeze

Following on from the GameStop buys intended to hurt short-sellers of that stock and a few others such as Blackberry and AMC, activists are now buying silver in the physical form or buying silver futures predicting a rise in the price of silver. This is intended to hurt those making bets that silver will fall in price. The big factor here is that there is no limit to the price of a physical commodity like silver. As hard metals markets open on Monday, watch this take off. Central banks are going to come under pressure. This is what happens when a group of relatively affluent investors get really pissed off. 

Update: the Wall Street Bets reddit claim that this silver squeeze is masterminded by the hedge funds to try and divert investor attention to something they want to happen, a rise in the price of silver. They urge investors to stay put and hold GameStop stock and to continue buying.