Bix Weir of RoadtoRoota.com released a video on Rumble on the weekend in which he literally proves there was a well planned, coordinated attack on the gold and silver spot prices, not once, not twice but three times last week culminating into a spectacular smackdown of the price of gold and especially silver over the course of two days last Thursday and Friday. It appears silver is / was the main target, not gold, although gold did drop significantly, about $90.
Soon after the FED announced another 25 basis point rate hike, silver began climbing past $24.50 but on Thursday, the attacks began and as can be seen from the chart below, some $2 of value was lost in a matter of 24 hours. I published a post about it myself a few days ago, trying to figure out what happened to cause silver to drop so fast and furiously. I predicted there would be a lot of chatter over the weekend and I was right. Bix Weir was on it right away.
In his Rumble video, Weir produces charts that shows 600M ounces was dumped on the markets between Thursday and Friday. Don't be fooled. Wir states, "It's the derivatives market. That's what sets the (spot) price. It's done with a click of a mouse".
This doesn't surprise me. It's been done before and it's all on paper, or in this case, electronic digits on a screen. I've been following precious metals prices for years and I've seen this sort of price manipulation play out numerous times. In the image below, Weir points out the 'well planned' mini-smackdown seen on Tuesday, one day before the rate hike announcement, followed by the second and third massive drops we saw on Thursday and Friday.
He suggests there may be another smackdown today before the COMEX reporting ends on Tuesday. So far, nothing huge has happened today. Maybe something will happen tomorrow?
Weir points one more thing out which is phenomenal, in my opinion. He states in an email I received, 'Totally manufactured and planned long ahead of the Fed meeting! The funny thing is, it took them 600Moz of derivatives to stop silver from rising only $2. Are they worried about a MOONSHOT when silver breaks through $30?!! HANG ON TIGHT!'.
Hang on tight, indeed! By the way, in real life, 600Moz is roughly three quarters of all the silver mined in one year. Bix Weir previously uncovered that between the COMEX and LBMA, upwards of 100 years of mined silver is traded between these two 'behemoths' every year. Of course, any sane person would see this as an impossibility. Yet, through contract derivatives, this is exactly what is happening and by doing so, are manipulating precious metals to their own benefit, to the detriment of miners and physical investors, including myself. I love silver and encourage everyone to invest a small portion of their savings to silver and gold.
In his video, Bix Weir brings up another chart that shows COMEX precious metals derivatives holdings are on their way down and believes this will bring about the demise of the COMEX. That will be a great day for you and me!
There's much more in Bix Weir's video. Click the image above or click here. Be sure to give him thumbs up and subscribe to his new Rumble channel. He works tirelessly to bring us valuable information almost on a daily basis. He is one of my first 'go to' guys when I need factual information and he usually puts it out there and fast. Better yet, go directly to his site and sign up for the 'public road' email subscription or join the 'private road' paid subscription.
For those of you who love silver like I do, do keep in touch by subscribing to my blog. I keep track every day and often share whatever information I can scrape up from the internet and share them here. Thanks for your support!
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