🧵 THREAD: Silver & the End Game nobody wants to talk about 🧵 1️⃣

Trump just announced 10% tariffs on EU & UK starting Feb 1, 2026, rising to 25% by June 1, 2026.

The UK hosts the LBMA.
This is not politics.
This is a physical metals logistics shock.

🧵 THREAD: Trump’s Tariff Playbook works for stocks — but breaks on Silver 🥈

https://twitter.com/KobeissiLetter/status/2012614240465486327

1️⃣
The Kobeissi Letter just laid out President Trump’s exact tariff playbook.

They’re right about how markets react.
But they miss what breaks when tariffs become structural.
Stocks trade headlines.

Silver trades reality.

🧵 1/5 🚨 LONDON HAS A 62,000 TON SILVER PROBLEM

London isn’t a silver warehouse.
It’s a highly leveraged paper market.

Against ~1,400 tonnes of actually available silver
stand up to 62,000 tonnes of paper claims.

That’s the core of the problem. 2/5 ⚠️ The London silver market already broke

On October 10, 2025, London seized up —
not because of price, but because metal wasn’t available.
“Floating supply” turned out to be accounting fiction,
not deliverable silver.

1️⃣ Percentage-based margins = an automatic choke point

With CME Group switching margins to a % of notional value:

• Higher price → higher margin
• Higher volatility → higher margin
• No cap, no relief

Futures become capital-inefficient overnight.
Paper markets depend on leverage.
Remove leverage → liquidity dies.

#Silver
#SilverSqueeze
#SilverStackers
#PhysicalSilver
#PreciousMetals 2️⃣ Margin calls force paper liquidation

As margins rise:
• traders must post more cash
• weaker hands can’t
• positions are forced closed

That means:
→ contracts are liquidated
→ open interest drops
→ paper supply collapses

This is not selling physical metal.
It’s unwinding paper promises.

🧵 THREAD: COMEX SILVER – WHAT REALLY HAPPENED (JAN 9, 2026)

This was NOT a big delivery day.
It was something far more important.
A quiet but significant physical silver DRAIN.

Let’s break it down 👇 1️⃣ THE HEADLINE NUMBER

On Jan 9, 2026, COMEX vaults recorded:

• +770,848 oz received
• −3,026,029 oz withdrawn
👉 NET CHANGE: −2,255,181 oz of silver GONE

That’s ~70 metric tons OUT in a single day.

This is physical metal leaving the system.

🧵 THREAD: Physical silver is disappearing. Quietly. Relentlessly.
1️⃣

This chart isn’t sentiment.
It isn’t speculation.
It isn’t “paper noise.”

Shanghai Futures Exchange (SHFE) silver stocks are PHYSICAL METAL — and they are being DRAINED.
Slowly. Consistently. Deliberately.

🧵 Silver doesn’t react to headlines.
It reacts to SYSTEM STRESS.

U.S. military action in Venezuela isn’t about silver supply.

But it does matter for silver — a lot.
Here’s why 👇 1️⃣

Venezuela is NOT the story
Venezuela is not a major silver producer.

This isn’t a mine shutdown narrative.
So if silver moves, it’s not because of Latin America.

🧵“18 MILLION OUNCES… and the WHO matters.” 1️⃣

Everyone keeps staring at the paper price.
I’m watching the delivery tape.
CME’s Daily Delivery Notices just quietly showed something stackers should not ignore. 🥈

🧵 Silver’s Real Choke Point: Refining — And China Owns It

Silver isn’t controlled at the mine.
It’s controlled at the refinery.
And China holds the switch. 1️⃣
People obsess over how much silver is mined.
Wrong question.

The real bottleneck isn’t mining.
It’s refining.

And this is where the world made a fatal mistake.

🧵 X THREAD

🚨 This chart matters more than most people realize. 1/

NY Fed repo operations are quietly spiking again.
Not headlines.
Not panic.

Just stress — handled behind the scenes.

Liquidity doesn’t ask for permission.
It just breaks where it’s weakest.

🧵 THREAD

BYD Didn’t Choose Silver by Accident. This Is Industrial Reality. Let´s connect the DOTS.
1️⃣

BYD has just overtaken Tesla to become the world’s #1 EV manufacturer.

Now the key detail:

👉 They’re moving forward with silver-based solid-state batteries.

This isn’t marketing hype.
This is a winner making an industrial decision.

🧵 THREAD When Paper Prices Break from Reality 1️⃣
Paper silver dips. Physical silver doesn’t.

That alone tells you everything you need to know. Because in a functioning market, this divergence should not exist.

🧵🥂Margin Hikes Failed. Silver Is Still Standing. 🎆 1/
CME just hiked precious metals margins AGAIN.
Gold +9%, Silver +30%, Platinum +25%, Palladium +22%.

And yet…
Silver is still holding around $72.
That’s not weakness.
That’s a system stress signal.

🧵 THREAD: This is what the final phase looks like 1/
When exchanges raise margins temporarily, it’s not a sign of weakness.

It’s a sign they expect volatility, one-sided flow, and thin liquidity.

That’s not fear.
That’s preparation.

🧵 THREAD: What if the U.S. bans silver exports to China?

1/
At first glance, a U.S. ban on silver exports to China sounds bullish for the West and bearish for China.
In reality, it would do the opposite. 2/
China wouldn’t “stop needing” silver.
Global supply wouldn’t increase.
The physical deficit wouldn’t disappear.
Only one thing changes: flow.

🧵 THREAD: Silver is disappearing — here’s the evidence

1️⃣
Silver is “down” on COMEX.
But price is no longer the signal.
Availability is.
Let’s follow the physical market. 👇 2️⃣
🇨🇳 China (SGE/SHFE), Dec 29:
• Silver trades $80–83/oz
• SHFE silver vaults: –22,692 kg in one day
• Previous day: –32,986 kg

That’s not trading.
That’s metal leaving the system.

🧵 THREAD: While Everyone Watches Crypto, Smart Money Moves to Silver

1️⃣
Something important is happening in the markets — and most investors are missing it.

While headlines stay focused on crypto, institutional money is quietly rotating.

🧵 THREAD: Two Prices. One Metal. And a Market That’s Breaking 1️⃣

Silver at ~$71–72 on Western screens.
Calm candles. Small pullbacks.

Looks… boring, right?
That’s exactly how real regime changes begin.

🧵 SILVER & GOLD: THIS RALLY IS DIFFERENT 🥈🥇
(Why year-end highs are stressing the system) 1/
Gold and silver are hitting repeated all-time highs into year-end.

But the real story isn’t price.
It’s what these prices are doing to bank balance sheets.

🧵 SILVER STACKERS — READ THIS CAREFULLY 🥈

#PhysicalSilver #SilverInventory #COMEX 1/
Today’s COMEX silver report wasn’t “boring”.
It was quietly explosive.

Over 3 MILLION ounces of physical silver left the system.

No headlines. No panic.
Just… gone.

🧵 THREAD: Silver vs Big Tech — the market cap crossover is closer than most think 🥈
1/

Two screenshots. Four days apart.
One quiet shift in market structure.

Silver’s market cap is accelerating — while Big Tech is stalling.
Let’s quantify it. 👇