Posts Tagged ‘silver’

LinkSwarm for May 17, 2024

Friday, May 17th, 2024

More Biden corruption unearthed, the Biden Recession has canaries dying left and right, yet another Katy ISD teacher involved in child sex crimes, and Phoebe Waller-Bridge is being given another tomb raider to destroy. It’s the Friday LinkSwarm!

  • Missouri AG Accuses Biden DOJ Of Coordinating With Trump Prosecutors.

    Missouri Attorney General Andrew Bailey filed a Freedom of Information Act (FOIA) request on Thursday as part of a probe into whether the Biden DOJ coordinated with Trump prosecutors.

    Missouri Attorney General Andrew Bailey filed a Freedom of Information Act (FOIA) request on Thursday as part of a probe into whether the Biden DOJ coordinated with Trump prosecutors.

  • More shady Biden accounts discovered.

    House Oversight Committee Chairman James Comer dropped a bombshell on Thursday, revealing that his panel had unearthed new financial accounts tied to the Biden family investigation. Adding to the drama, Comer announced a fresh subpoena aimed at an undisclosed bank, ramping up the pressure in this ongoing probe.

    “This morning, I issued a subpoena for targeted financial information from a certain financial institution related to Jim Biden, Sarah Biden and Hunter Biden. This is a result of many of the documents that Devon Archer turned over,” Comer told Maria Bartiromo on Fox Business.

    The Oversight Committee began investigating the Biden family’s alleged shady business dealings over two years ago. In March, they called for Biden to testify before Congress, stating that “the committee has accounted for over $24 million that has flowed from foreign sources to you, your family, and their business associates.”

    “It is unbelievable,” Comer continued. “I don’t think you would find very many people that have a billion-dollar net worth that have as many different bank accounts as this Biden family had. Many of these were shell companies.”

    Those were “companies [whose] sole purpose was to launder the money that the Bidens were receiving from China, from Romania, from Russia,” Comer added. “And never one time through the course of this entire investigation, even during the depositions with Hunter Biden and the transcribed interview with Jim Biden, were they able to answer exactly what the family did to receive this money.”

    (Hat tip: Stephen Green at Instapundit.)

  • Don’t look now, but silver just broke the $30 mark for the first time in forever. A whole lot of investors think inflation is baked into the cake now.
  • IKEA says that the current economy is the worst they’ve ever seen. There are lots of other canaries keeling over as well…
  • “Hunter Biden Loses Bid To Halt Tax Evasion Court Proceedings As 9th Circuit Dismisses Appeal.” Will a member of the Biden crime family actually serve time for their misdeeds?
  • “Nearly Half of All Masters Degrees Aren’t Worth Getting. According to new research, 23 percent of bachelor’s degree programs and 43 percent of master’s degree programs have a negative ROI.” (Hat tip: Instapundit.)
  • If your farm is in the state of California, State Farm no longer wants your business.
  • Meanwhile, the government of San Francisco is buying booze for homeless people.
  • “Daniel Perry Pardoned by Gov. Abbott Following Parole Board Recommendation.”

    Gov. Greg Abbott has pardoned U.S. Army Sergeant Daniel Perry following a recommendation of pardon and restoration of his firearm rights by the Texas Board of Pardons and Paroles.

    The board voted unanimously on the recommendation.

    Shortly after the recommendation was made, Abbott officially pardoned Perry.

    “The Texas Board of Pardons and Paroles conducted an exhaustive review of U.S. Army Sergeant Daniel Perry’s personal history and the facts surrounding the July 2020 incident and recommended a Full Pardon and Restoration of Full Civil Rights of Citizenship,” Abbott wrote in a press release.

    “Among the voluminous files reviewed by the Board, they considered information provided by the Travis County District Attorney, the full investigative report on Daniel Perry, plus a review of all the testimony provided at trial. Texas has one of the strongest ‘Stand Your Ground’ laws on self-defense that cannot be nullified by a jury or a progressive District Attorney. I thank the Board for its thorough investigation, and I approve their pardon recommendation.”

    Perry was convicted of murdering Air Force veteran and Black Lives Matter protester Garrett Foster in 2023. A Travis County jury deliberated for 17 hours before finding Perry guilty of murder but not aggravated assault of Foster at the intersection of 4th Street and Congress Avenue in downtown Austin, as well as threatening a crowd with his car during the 2020 protest.

    Perry, who was working as an Uber driver, shot and killed Foster with a .357 Magnum revolver after Foster approached the driver door of his Hyundai Ioniq.

    This dispassionate description hides the fact that Perry’s car was surrounded by a crowd of rioters, including the one who aimed a gun at Perry. This was a clear case of self defense that never would have gone to trial if Travis County’s far left Soros backed DA Jose Garza weren’t so in favor of radical left wing rioters and hostile the right of self defense.

  • Is the DOJ trying to protect Pfizer from a whistleblower lawsuit?

    The Department of Justice recently argued that a whistleblower lawsuit against Pfizer, filed by Brook Jackson, should be dismissed.

    Jackson, a 20-year veteran in clinical trial administration employed by a third-party vendor (Ventavia Research Group), worked on Pfizer’s COVID-19 vaccine trials in 2020. Alarmed by what she witnessed, Jackson raised concerns to her superiors, Pfizer, and the Food and Drug Administration (FDA) in September 2020.

    She claimed the trial was being run, documented, and reported in a manner that violated Federal law and was potentially dangerous.

    Hours after contacting the FDA on September 25, 2020, Jackson was fired. Her sealed whistleblower complaint seemed to stall, with the FDA not investigating her claims. Faced with inaction, Jackson filed a lawsuit.

    As the case progressed towards discovery, the DOJ intervened, asking the judge to dismiss the case. Jackson argues that the government failed to articulate a legitimate reason for dismissal and did not demonstrate why the burdens of continued litigation outweigh its benefits.

    Disturbingly, a former FDA lawyer who worked at the agency when Jackson’s complaint was filed has moved to the DOJ and is now representing the government in its attempt to shut down the suit, raising concerns about regulatory capture and the use of government to shield companies from accountability.

    In 2021, the British Medical Journal published an article investigating Jackson’s claims and found them credible. The journal’s investigation concluded that Jackson’s account was supported by documentation and raised serious questions about the integrity of Pfizer’s vaccine trials and the FDA’s oversight.

    Other former Ventavia employees vouched for Jackson’s complaint, describing a “helter-skelter” work environment and lack of oversight.

    Despite evidence and corroboration, the FDA did not inspect Ventavia after Jackson’s complaint, and Pfizer did not mention any problems at Ventavia in its FDA submission for emergency use authorization.

    BMJ’s findings lend significant credibility to Jackson’s claims and raise serious questions about the integrity of Pfizer’s vaccine trial data, the adequacy of regulatory oversight, and, ultimately, the approved emergency use authorization.

    Follow the money…

  • Court throws DEI amendment to NY constitution, off November’s ballot. “The NY State Supreme Court (trial court) in Livingston County (near Rochester), granted summary judgment throwing the ERA off the November ballot, on the ground that the proponents of the legislation did not follow the constitutionally required procedure for advancing a ballot initiative for a constitutional amendment.”
  • “Katy ISD Teacher Arrested on 9 Counts of Possession of Child Pornography.”

    A Tompkins High School teacher has been arrested on nine counts of possession of child pornography.

    James Paul Stone was booked into the Fort Bend County Jail Monday.

    According to the Montgomery County Precinct 3 Constable’s office, thousands of images of child pornography were recovered from Stone’s residence, including several images that Stone admitted to producing himself.

  • Ah, not this crap again. “Venezuela Moves ‘Substantial Quantities’ Of Troops To Guyana Border.”
  • China’s latest car has every bit of the outstanding quality we’ve come to expect of products from China.
  • “Army of Leftist wackos storm Tesla factory like Orcs attacking Helm’s Deep.” This was in Germany.
  • Princeton pro-Hamas hunger strike collapses after nine days.
  • New York City raised the minimum wage to $16 an hour, and now restaurants are using Zoom hostesses from the Philippines.
  • “Nobody fucks with my snowy, psychotic hat.”
  • Google AI can’t understand or answer any questions about the Holocaust, but sure loves to spit some Hamas talking points.
  • Which is a bit worrying, given how hard Google is pushing AI:

    (Hat tip: Not the Bee.)

  • Comcast, Netflix and Apple+ are going Voltron to defeat Disney.
  • Spider-Man, Spider-Man/A Nick Cage Noir Spider-Man/Anime? No my friend/It will be live action/Whoa, Nick Cage Noir Spider-Man.
  • As a reward for destroying Indiana Jones, Phoebe Waller-Bridge is going to be given another tomb raiding franchise to destroy.
  • If you have mounds of money lying around, you can own Elvis Presley’s very first record.
  • Robert “Bob” Reale, of Reale’s Italian Cafe, RIP. It’s our favorite Austin Italian restaurant, and would come around and check on you while you were there.
  • “Latest Polls Show Biden Will Need Twice As Many Fake Ballots To Win Election This Year.”

    • Hit the tip jar if you’re so inclined.





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    Posted in Austin, Crime, Democrats, Economics, Media Watch, Social Justice Warriors, Texas | 3 Comments »

    Followup: Is The Silver Squeeze A Ruse?

    Tuesday, February 2nd, 2021

    Following yesterday’s story, I got pushback from readers that asserted the supposed WallStreetsBets silver squeeze was, in fact, a ruse from hedge funds to distract retailer investors from the GameStop and AMC squeezes.

    That does in fact seem to be the consensus at WallStreetBets.

    If you haven’t been browsing WSB or doing your own research, you’d probably think that the people on Twitter are correct in saying there is a silver squeeze happening and we should all get in on it. There are quite a few wsb-logo Twitter accounts pushing this. This is BS & the straight up the ANTITHESIS of who we are.

    By buying silver/going long on silver, you would be directly putting money into the pockets of the EXACT HEDGE FUNDS ON THE OTHER SIDE OF $GME 🚀 🚀 🚀 💎 🙌 The hedge funds are LONG silver NOT short silver.

    The media, Wall Street, normies, and every other non-WSB autist are trying to push you to buy silver. This would be a tragic, irreversible decision that not only will most likely not make you any money because the squeeze is fake, it will put you on the sidelines from this righteous and glorious war we are in.

    Another sign it’s a ruse: Citadel Securities, one of the primary hedge funds backers, evidently holds shares in 17 different silver companies.

    That’s one of the problems with a decentralized swarm attack: If nobody’s in charge, then it’s much harder to filter out the noise to determine the true direction of the swarm. That can be a strength, but it also makes the swarm vulnerable to ruses like this. Extracting a signal from the huge wave of noise in everyday financial transactions is a daunting problem under the best of circumstances even when giant hedge funds aren’t baiting friendly MSM outlets with elaborate ruses. (Or, I should say, when giant hedge funds aren’t baiting friendly MSM outlets with elaborate ruses even more than they usually are.)

    Whatever the source, many bullion dealers were reporting a huge run on silver due to a spike in demand, though physical silvere seemed to be doing much better than “paper silver” (i.e., the futures market). Today spot silver prices are back down in early trading.

    Remember, I said yesterday that a silver squeeze was unlikely to work.

    With that out of the way, here are some other WallStreetBets/GameStop/etc. news:

  • Adam Ford with Not The Bee explains the GameStop short squeeze, including more background detail on the origins of the squeeze than was in my original post:

  • Glenn Greenwald goes into more detail on the GameStop squeeze and Melvin Capital:

    The usual Greenwald leftwing caveats apply. (Hat tip: Zero Hedge.)

  • GameStop stock is back up this morning after Robinhood lifted restrictions on buying shares.
  • Texas Attorney General Ken Paxton has launched an investigation into “Robinhood, Discord, Citadel and other trading apps that put curbs on stock trading” in GameStop.

    • Noon Update: And now GameStop, AMC and Silver are all way down right now. Never invest what you can’t afford to lose…

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    Posted in Economics, Texas | No Comments »

    Hi Ho Silver, Away to the Moon!

    Monday, February 1st, 2021

    Evidently the WallStreetBets crowd that carried out the Great GameStop Short Squeeze have decided that silver is their next target for making money:

    Silver Bullion Market is one of the most manipulated on earth. Any short squeeze in silver paper shorts would be EPIC. We know billion banks are manipulating gold and silver to cover real inflation. Both the industrial case and monetary case, debt printing has never been more favorable for the No. 1 inflation hedge Silver.

    Inflation adjusted Silver should be at 1000$ instead of 25$.

    Signs that the silver market was about to get hit by a GameStop-style short squeeze emerged Wednesday.

    That’s when comments began appearing on the Reddit forum r/wallstreetbets — the investor board now famous for tripling the video game company’s shares this week. People started egging each other on to pile into silver’s largest exchange-traded product. Banks have been keeping silver prices artificially low, they said, masking an actual shortfall of supplies. Help put an end to “THE BIGGEST SHORT SQUEEZE IN THE WORLD,” one poster said.

    To say there was a strategy would be overstating things. At about 8:30 a.m. New York time on Thursday, day traders bent on teaching some banks a lesson began flooding iShares Silver Trust. Their buying drove up prices of the underlying metal by as much as 6.8%, the most since August. And just like that, an ETF became the Trojan horse that helped the Reddit hoards break through the gates of the commodities world for the first time since they began upending equities.

    It rippled across the entire silver complex. Miners of the metal rallied. Futures gained. A record 3.1 million iShares Silver Trust options contracts traded. The volatility was unlike anything James Gavilan, a commodities market consultant with over two decades of experience in precious metals, had ever seen.

    It was “mind-boggling, breath-taking, it’s shocking really,” he said as prices continued to rise further.

    Another sign that they’re having a real effect is yesterday’s email missive from gold and silver dealer APMEX:

    In the last week, we have seen a dramatic shift in Silver demand from our customers. For example, the ratio of ounces sold per day was running about two times earlier in the week and closer to four times the average demand by the end of the week. Once markets closed on Friday, we saw demand hit as much as six times a typical business day and more than 12 times a normal weekend day. Combined with the extremely high demand levels, we are also seeing a surge in new customers. On Saturday alone, we added as many new customers as we usually add in a week.

    This morning spot silver is up over $30 an ounce, various stock brokers are evidently breaking down on the volume, and physical silver rounds are sold out at various silver dealers, even at $6 over spot (which is nuts).

    Another sign that the effect is real is that silver is rising but gold remains flat, an unusual circumstance that never seems to hold long for precious metals whose prices have historically risen and fallen together.

    Silver has always been populism’s precious metal of choice, with the bimetallist “Free Silver” movement of the late 19th century culminating the William Jennings Bryant’s famous “Cross of Gold” speech in 1896.

    Unlike GameStop stock, I actually own physical silver as an emergency hedge against hyperinflation, so the Reddit raiders already made me a little money. And there’s more than a grain of truth to inflation being higher than government indexes are letting on, largely thanks to the huge liquidity the Federal Reserve and other central banks have pumped into the world economy. I do think it is prudent for anyone with sufficient capital (i.e., you’ve paid off your car and credit card debts and have, at an absolutely bare minimum, three months of living expenses in the bank) to keep a certain amount of physical gold and silver in a secure location (and I suspect at least half of you are immediately going to think “gun safe”) you can easily access, just in case.

    But color me skeptical that not only can they get silver up to $1,000 an ounce (barring a runaway hyperinflation takeoff), but that they can have any long-term effect on the market. Tangible commodities are fundamentally different than shorted stocks. A big rise in the price of silver would trigger the reopening of dozens of currently shuttered silver minds around the world to meet demand.

    Silver is a truly global commodity in a way that GameStop stock is not. I am skeptical that the WallStreetBets crowd has an adequate grasp of the size of the global silver options picture. Traders in Tashkent and Singapore probably never heard about GameStop until this year, but they’ve watched the rise and fall of silver prices for a long, long time.

    I’m old enough to remember that there have been several rounds of apocalyptic bullion hype over the years. My father lost quite a bit of money betting on gold futures in the early 1980s, sure than inflation would continue to rise, but instead Paul Volker and Ronald Reagan managed to kill it dead.

    This was about the same time the Hunt brothers tried to corner the silver market. Silver started 1979 around $6 an ounce, and briefly peaked above $49 in January of 1980. By June of 1981 Silver was back to trading in single digits, and the Hunt brothers lost their shirts. (There are some parallels with the GameStop squeeze, namely that the Hunt brothers were doing a lot of their buying using options and credits, like some (but not all) of the WallStreetBets crowd.)

    The bullion market also has a way of defying your expectations. I was sure that the subprime meltdown in 2008 would send gold and silver soaring. Gold jumped in September, then settled back down below it’s September rates before ending up modestly up for the year. Silver actually ended the year down.

    The world economy is an enormously complex organism. You can temporarily jolt some parts of it, but then other parts compensate. Rising and falling prices are timing signals that constantly shift money around to make sure supply meets demand. Investing in silver means opportunity cost in not investing in index funds, Apple stock, or even Dogecoin (way up for the year, but down off last week’s peaks).

    By all means, hold gold and silver as a hedge against inflation. But don’t bet the farm on silver hitting that moonshot target of $1000 an ounce anytime soon.

    Edited to add: Read the comments. A lot of people are saying this is jamming from the hedge fund backers to take the pressure off GameStop and AMC, and not an organic push for silver from the WallStreetBets core crowd.

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    Posted in Economics | 15 Comments »