Bullion Dealers Sold Out of Silver – Premiums Rise

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Illuminati Silver
Published at : 04 Feb 2021
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#Silver #SilverShortage #Soldout

In todays video we look at a number of silver bullion dealers who have announced that they are either short of silver coins and bars or that they have sold out completely. Although some are taking orders they are quoting delivery dates weeks ahead.

Today is Wednesday 3rd February 2021 and we are reporting that as a result of the Robin Hood Reddit Silver squeeze, Bullion Dealers have more or less sold out of silver product and what does this mean going forward. So let’s take a look.

Firstly, a quick shout out to 3 important videos produced this week:

$1000 Silver This Week? Reddit & Robin Hood & GameStop
https://www.youtube.com/watch?v=JIoQkhJVdy4

Silver Rockets from $27 - $30 Overnight: Reddit & GameStop Effect
https://www.youtube.com/watch?v=u9Q8ZlCpxlU

Is the Silver Robinhood Reddit Party Over?
https://www.youtube.com/watch?v=DueC1BKHW3M

with perhaps the latter one, being now more relevant.

Between these 3 videos we highlighted the effect that the Robin Hood Reddit Short squeeze Renegades have had on equities and especially GameStop and more latterly the Short Silver Squeeze they attempted to emulate.

The result was a fast a discernible rise in the silver price up to $30 but the price now having fallen back equally as quickly if not even faster to its current level of $26.70 – 35 cents lower than Friday’s close but still $1.40 higher than a week ago just prior to the markets being affected.

One of the consequences of what happened is virtually a mass buying attack on precious metal dealers many of whom refused to take orders over the weekend, and a number now declaring virtually no available stocks.

We referred to this in our previous videos and at the same time pointed out that 1,000 oz bars were still available and essentially it has been the traditional retail products that have been consumed.

I think it is fair to say, while this channel has been running, there has not been an instance when premiums rose to these similar levels before one could buy those products cheaper (even if the underlying spot price went up) just by waiting.

Now of course we understand the psychology. No-one wishes to miss out. Grab what one can before its too late. But unfortunately the same playbook occurs again and again.

This is why we say be careful not to get too caught up in the hype. Yes of course if silver did go to $100 or $1,000 it would be a very different matter but whatever you do try and ensure you do not find yourselves on the same plain as those who were encouraged to buy all that they could in 2011 and still to this day will be under water with their purchases.

Yes, we do believe that the future for silver is bright, and if you hold for the long term then no worries

Important Links and videos:

Join us at:
https://www.illuminatisilver.com/sign-up-today/

Bullion Vault – Buy Gold & Silver
http://bit.ly/bullionvaultillumsilv

Richard & Greg – Discussion: Debate & Argument YouTube Channel
https://www.youtube.com/watch?v=MLWxmXToFCg&t=3s

Bitcoin/Crypto Training
https://bit.ly/3pNjaug

Rich Dad Summit from $1
https://bit.ly/39uZfKD

Gold, Silver and Rare Coins:
https://amzn.to/2PVinHw - (US & Overseas)
https://amzn.to/2EW8RO2 - (UK)

Stack Silver Get Gold:
https://amzn.to/37yIkUc - (UK)
https://amzn.to/33ca2md - (US & Overseas)

Bitcoin/Crypto Training
https://bit.ly/3pNjaug

Bitcoin For Dummies 1st Edition
https://amzn.to/2VKUSmE

Cryptocurrency Investing For Dummies 1st Edition
https://amzn.to/36Nhidt

Cryptocurrency Mining For Dummies 1st Edition
https://amzn.to/2JREdv2

The Bitcoin Standard: The Decentralized Alternative to Central Banking
https://amzn.to/3lNieTs

Blockchain Bubble or Revolution: The Present and Future of Blockchain and Cryptocurrencies
https://amzn.to/3gdTjao

The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology that Powers Them
https://amzn.to/39KqPUj

News Theme 2 by Audionautix is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/)
Artist: http://audionautix.com/

#Silver
#1000Silver
#GameStop
#Reddit
#RobinHood
#Silverfalls
#wallstreetbets
silvergoldsalivate metal

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