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Silver miners are seeing even more of a pump; First Majestic Silver Corp. A precious metal market short-squeeze of anything even close to what has already been seen in small-cap stocks such as GameStop could have a huge impact on currency markets, primarily through the avenue of undermining confidence in the fiat-based monetary system.
WallStreetBets Fuels Buying Spree
As a result, central banks have turned to increasingly unorthodox methods of attempting to boost inflation, such as quantitative easing, which is essentially the creation of new money out of thin air to buy government and bank and corporate debt, in order to artificially supress interest rates and thus spur economic activity. A key problem with such policies is that many fear that expansion of the money supply in such a way will boost inflation.
Given that precious metals are seen as a hedge against inflation, any massive surge in precious metal prices might be seen as an early omen for an incoming surge in inflation. This would undermine confidence in fiat currencies across the globe, and the various winners and losers might be difficult to predict but given the fact that it is the global reserve currency, it would seem likely that the USD would have the most to lose from any precious metal price surge-induced loss of confidence in fiat currencies.
F: What may be held against the Reddit wallstreetbets group in the future is the fact the Reddit subgroup was taken private for unexplained reasons momentarily, until it reemerged as a public group soon after. I'm fearing you may have missed the point of my post. Anything can be classed as investing if you can get the odds in your favour, however like suggested above. Most ideas pitched to money managers some how also come with a view on vol as well as interest rates. Because in the end, the money won and lost is real via retail brokers in the US and need to be covered with real cash transactions.
Silver prices have surged amid increased retail interest as brokerages move to restrict speculation on stocks like GameStop. Fed Chair Powell stated that there are pointers towards improvement later in the year, yet also that the US economy is still a long way from full recovery.
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As the pair broke the R1 which was the lower boundary of its past sideways movement we switch it in favor of a bearish outlook. Should the bulls take over, we may see the pair aiming if not breaking the 0.
Also he mentioned that Euro strength would take prominence for ECB if it threatens the inflation outlook, practically inviting the bears in for EUR yesterday. We maintain a bearish outlook for the pair as the downward movement seems to be strong and given that the RSI indicator below our 4 hour chart is aiming for the reading of 30, underscoring the presence of the bears at the current moment.
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The Case for Silver
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