/biz/ - Business & Finance

>>29239299
This is the cliffs notes version of the reddit post here: https://www.reddit.com/r/wallstreetbets/comments/lnzeho/the_silver_short_squeeze_is_glaringly_obvious_to/

Part 5)

The LMBA is estimated to contain 1.08 billion ounces of silver.
Meaning that 162 million ounces aren't already allocated to ETFs.
Not known though, is how much of this 162 million ounces is owned by wealthy individuals and family offices who already have a claim to it.
Indeed, the supply situation at the LBMA is dire enough that the worlds largest silver ETF, SLV, had to change it's prospectus to mention that they may not be able to find silver to allocate to their ETF in the near future.
They made this change on 2/3 following historic inflows, but didn't make the document public until 2/8 for some reason. Nor did they announce the change.

There are only 0.36 to 0.52 investment grade ounces of silver per person in the world if you include both the small denominations and the 1000oz bars together.
At $27.37 an ounce this is only $9.85 to $14.23 worth of investment grade silver per person.
Go take a stroll through some of the silver forums on reddit and you'll see people are buying 6 figures worth regularly right now.
Think about 2 billion ounces worth of silver in 1000oz format. That is a tiny, tiny number.
There are only 2 million 1000oz bars, and each one costs roughly $27,710.