When you lend, you’re saying: “I believe you’ll return the value later.”
No trust → no debt → no system.
#SilverStackers #SoundMoney
2/ Every modern dollar, euro, or pound is debt.
Your bank balance = the bank’s promise.
Government bonds = IOUs wrapped in confidence.
When debt expands, money expands.
When debt contracts, money dies. 💀
3/ That’s why debt IS the currency.
We don’t trade gold or goods anymore — we trade promises.
A promise backed by… another promise.
It’s turtles all the way down. 🐢
#SilverSqueeze #MonetaryReset
4/ Now imagine what happens when trust fades.
Interest rates explode.
▶️Rollovers fail.
▶️Collateral loses value.
▶️Debt freezes.
▶️The “money” built on that debt evaporates — instantly. 💨
5/ That’s not just a debt crisis.
That’s a monetary crisis.
Because when your “money” = someone else’s unpaid promise, the moment promises break, your currency dies with them. ⚰️💵
#Silver #Gold #SoundMoney
6/ That’s why stackers hold real money — no counterparty, no promise, no default.
When the trust chain snaps, silver doesn’t. 🪙
Trust once lost can take decades to rebuild.
But ounces? They don’t need trust. They are value.
#StackerLogic #SilverShortage #HardMoney
7/
The fiat world runs on credit.
The stacker world runs on metal.
When the first collapses, the second finally shines. 🌕
Stay patient. Stay physical. Stay outside the promise.
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Thread 🧵 | David Jensen: The “London Promissory Note Market”
1️⃣
Mining executive & metals analyst David Jensen (@JensenStrategic) says it plainly:
The LBMA isn’t a bullion market — it’s a promissory note factory.
Unallocated paper claims there are orders of magnitude larger than COMEX futures.
#Silver #Gold #LBMA
2️⃣
LBMA’s spot market trades over 300 million oz of silver daily, equal to 3 billion oz turnover —
in a world that mines ~850M oz per year.
That’s not “liquidity.”
That’s leverage on promises.
Meanwhile, COMEX averages just 100–200k contracts daily (~0.5–1B oz).
3️⃣
For gold, London holds ~385M oz in paper claims vs 280M oz in vaults, much of it locked in ETFs or leases.
Translation: the “physical” market is a spreadsheet illusion.
COMEX may set headlines,
but London sets the price — on paper.
🚨 LONDON SQUEEZE: $50+ silver, spot > futures, shorts bleeding. Physical rules the game. #SilverSqueeze
1/ London just flipped the board. Spot in London trades above NY futures, liquidity is vanishing, and shorts are paying eye-watering borrow to survive the roll. This is not a drill.
2/ Overnight borrowing costs have spiked to triple-digit annualized in the tightest moments. That’s what true scarcity smells like: pay up or get out.
3/ Traders are literally booking transatlantic cargo slots. Estimated 15–30 million oz are being lined up to fly/sail from New York to London to capture the premium. Physical arbitrage in real time.
🧵 Reflection: What if China’s negative silver premium means something else? 🐉
1️⃣
Lately, the Shanghai Gold Exchange shows both gold and silver trading below international prices.
Silver premium: −4%
Gold premium: −1%
It’s a reversal — for months China was paying above global prices for physical metal.
2️⃣
At first glance, it looks like falling demand.
But SGE isn’t a free market — it’s guided.
So what if the “discount” is deliberate?
A quiet policy choice to give domestic households a window to accumulate metals at lower prices.
3️⃣
China has done similar things before — letting citizens buy when the rest of the world was distracted.
Later, when premiums rose again, the metal was already in strong hands.
What if we’re watching the same playbook unfold, again?
🧵1/
They hurled 220,082 silver futures at the screen today.
At 5,000 oz per contract, that’s ~1,100,410,000 oz of synthetic silver in one session. 🤯
Yet price still sits around $50/oz.
Paper flood. Physical shrug.
#Silver #StackerLogic #COMEX
2/ Deliveries: 89 contracts = 445,000 oz — that’s ~0.040% of what “traded.”
Translation: the smash was almost entirely paper; hardly any real metal changed hands.
#Silver #SilverSqueeze #HardAssets
3/ Breakdown matters:
• Total volume: 220,082 contracts
• Open interest: 169,711 (+3,325 = 16.625M oz new claims)
• Dec ’25: 198,198 contracts
Block trades: 738
EFP: 1,882 (paper ↔ “physical” lane)
TAS: 1,381
Dec OI change: −1,476 → 128,281
Biggest action where liquidity lives — still mostly screen metal.
#COMEX #PreciousMetals