/biz/ - Business & Finance

>>27185564
I'm not sure about this shorting silver plan.
I've HODLed precious metals since 2008 and have a good understanding of the physical/notional markets.
On big exchanges like the COMEX or LME, traders buy and sell "notional contracts" (paper reciepts for metals). The exchanges themselves have a small stock of physical for anybody who "stands for delivery"
In order to crash this market with no survivors, the kids on Reddit NEED to be buying those paper contracts direct from COMEX, then demand all Stand for Delivery at exactly the same time to cause a run on the exchange.
It's quite common to see the physical price with bullion dealers separate from the notional, but unless Reddit can actually get into the COMEX to buy receipts for delivery, they're not crashing anything.