These are interesting times as the tug-of-war that just started between the Reddit crowd and the bullion banks intensifies and the participant list broadens to include all of those who understand or at least suspect what is really going on behind the curtain. Silver has magically dropped $2.42/oz at the time of our blog this morning which is almost a dollar more than it gained yesterday despite almost all retail suppliers being wiped clean of silver over the weekend. We thought this day would come several years back when we posted our "Game of Spoons" blog (please see link below). Admittedly we were a wee bit early on that prognostication but in circumstances such as this, a few years early is way better than a few days late, unless that day just happens to be Groundhog Day and do-overs are still possible?
Even though the COMEX just changed its rules again to support the big boys and squash the little ones, we think this battle, now finally with a true heavyweight contender in the challenger's corner, has only just begun. The Millennial Generation has just jumped head first into physical precious metals for the first time ever and they did so with a tremendous show of force. Even if the bullion banks and the governments that support them with their almost unlimited money printing capability are able to squelch this movement for now, going forward we believe it will be a game changer. To own a 100 ounce silver bar, a Morgan silver dollar, a gold American Eagle, or a platinum Maple Leaf and to hold it in your hand for the first time will leave an indelible impression. Millions of these new owners will undoubtedly be left wanting of more metal and less paper. Until very recently in human history (1971 to be exact), precious metals circulated as the money of the people. Not surprisingly, the value of our paper money has fallen 85 to 90% since that time and 98 or 99% since the Federal Reserve was formed in 1913 and first fired up its printing presses. It's still not too late to own what's rare, but time is seemingly getting short and a do-over opportunity is unlikely.