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Silver Doctors, Released on 2/2/21
From the Reddit traders thinking they can take on the big bank silver shorts, to silver bullion dealers getting wiped out of their inventory, and to the wild price swings to the tune of many dollars per day, it has been one wild rollercoaster ride in silver lately!
And If you’re on this ride, you’ll want to make sure the person you are sitting next to not only likes this kind of stuff, but perhaps more importantly, won’t puke his guts out halfway through it!
So we called up our good friend Dave Kranzler of Investment Research Dynamics to talk about some of the things going on in the silver market right now, as well as to perhaps help calm some of the fears of any new riders out there.
Note: I learned of the Fed’s redefinition of M1 from the invaluable research of John Williams at Shadowstats.com – This information was not reported by any mainstream financial news sources.
The Federal Reserve quietly announced on December 17, 2020 that it is redefining the M1 and M2 Money Supply Measures (H.6 Release) by shifting the savings deposits component into M1 from M2. M1 is supposed to measure “demand money” – i.e. funds that can be accessed for use without prior notice, primarily checking account funds, including travelers checks and free-floating currency. M2 is M1 plus “term” deposits: savings accounts, CD’s in amounts of less than $100k and retail money market funds.
Dave Kranzler: Fed starts obscuring money supply data as it prepares to go Weimar gata.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gata.org Daily Mail and Mail on Sunday newspapers.
The behavior of the mining stocks since early August is the reason why I am emphatic in recommending to never go “all in” and to keep plenty of cash on hand to take advantage of market pullbacks. The sector had a massive up-cycle since mid-March.
Consider this: since the market bottom in March, GDX is up 84% YTD. GDX has outperformed all of the major stock indices including the Nasdaq, which is up 80.4% over the same period. I am positive that fact would take most market participants by complete surprise. After all, the precious metals sector is never discussed by mainstream financial media unless it’s in a negative context.