Hey, you. Yeah, you. The person watching this while pretending to work. I can see you. Your boss thinks you're analyzing that spreadsheet, but you're not. You're watching YouTube videos about money while you should be making money for someone else. Close the fake Excel tab. Nobody believes you are actually working on that quarterly report. Now, listen. If you are on the toilet right now, perfect.


You're in the right place because what I'm about to show you is going to make you yourself anyway. Okay, maybe this is too much. Anyway, ladies and gentlemen, Asian Guy here, the official channel currency archive, the only source for high quality daily updates of silver. It is Wednesday, February 19th, 2026, and I'm about to walk you through six pieces of evidence that prove the ComX silver price is a complete fraud. A minor just released earnings showing they are selling silver for $70, while the paper market says 55. The Trump administration just announced they are implementing a sophisticated price floor system for silver. The ComX registered inventory is collapsing at 20 million ounces per month. And mathematical models show the vaults could hit zero by March 6th. March 6th. That is 15 days from now. 15 days. So, buckle up, focus, and let me show you exactly what is happening. Because by the time I am done, you're either going to panic buy silver with both hands or you're going to close this video and pretend you never heard any of this. And if you choose option two, do not come crying to me when silver is at $200 and you are still holding worthless paper. Let me start with First Majestic Silver because First Majestic just released their fourth quarter 2025 earnings report. And buried in that report is a piece of information that is so explosive, so undeniable that it proves once and for all that the ComX price is fake. First Majestic is one of the largest primary silver miners in the world. They operate mines in Mexico. They produce millions of ounces of silver per year and they sell that silver to industrial users and refiners. Now, when a mining company releases earnings, they report something called the realized price. The realized price is the actual price they received when they sold their silver. Not the spot price, not the futures price, the actual price that someone paid them for physical metal. And in the fourth quarter of 2025, First Majestic's realized price was $69.74 per ounce. 69.74. Now, let me show you why that number is so important. During the same period, October through December of 2025, the average comic spot price was $55.20. 5520. So, First Majestic sold their silver for 69.74 while the paper market was trading at 55.20. That is a difference of $14.54 per ounce. 1454. That is a 26.3% premium over the spot price. 26%. Let me say that again. First Majestic sold their physical silver for 26% more than the comic spot price. Not 2%, not 5%, 26%. Now, in a normal market, this should not happen. In a normal market, the spot price and the realized price should be very close, maybe a 1 or 2% difference because the spot price is supposed to reflect the actual value of the physical metal. But we are not in a normal market. We are in a market where the paper price and the physical price have completely decoupled. And First Majestic's earnings just proved it. They just gave us mathematical evidence that the comic spot price is fake. It is an illusion. It is a number on a screen that has no connection to the real world. Because in the real world, miners are selling silver for $70, not 55, 70. Now, why is First Majestic able to sell for such a huge premium? Because industrial buyers are desperate. They need silver. They need it to build solar panels. They need it to build electric vehicles. They need it to manufacture electronics and they cannot get it at the Comics spot price because the Comics does not have physical metal. The Comics has paper contracts, but you cannot build a solar panel with a paper contract. You need actual bars. So, the industrial buyers are going directly to the miners. They are bypassing the Comics entirely. They are calling up First Majestic and saying, "How much silver can you sell us? We will pay whatever you want." And First Majestic is saying, "Okay, the spot price is 55, but we are selling for 70. take it or leave it. And the industrial buyers are taking it because they have no choice. They need the metal. And $70 is better than not having any metal at all. This is what a physical shortage looks like. This is what happens when the paper market loses credibility. The buyers stop looking at the comic's price. They go directly to the source and they pay a massive premium. And that premium is only going to get bigger because the shortage is getting worse. Let me put this in context. First, Majestic produced approximately 6.6 million ounces of silver in the fourth quarter. And they sold it all for an average of 6974. That means they generated revenue of $463.9 million. $463 million. That is up 169% year-over-year. 169%. How do you grow revenue by 169%? By selling at much higher prices. And First Majestic is selling at much higher prices because the physical market is screaming for supply. Now, here is the key question. If First Majestic is selling for $70, why is the ComX still showing 55? Because the Comics is not a physical market. It is a paper market. It is a casino where banks and hedge funds bet on the price without ever touching the metal. The banks that are short silver have every incentive to keep the paper price low. Because if the paper price goes to 70 to match the physical price, their short positions explode. They lose billions of dollars. So, they keep manipulating the paper price down. They keep dumping contracts. They keep creating fake supply. But it does not matter anymore because the physical buyers are not looking at the paper price. They are looking at what miners like First Majestic are charging. And miners are charging 70. So the comics price is irrelevant. It is a lie. It is a fiction. And First Majestic's earnings just proved it. Now, while First Majestic is selling silver for $70 in the real world, something very interesting is happening in Washington DC. The Trump administration just announced a major policy shift. and it is going to change everything. Under Secretary of State Jacob Hellberg just gave an interview where he discussed the administration's strategy for rebuilding the domestic supply chain for critical minerals. And in that interview, he said something absolutely stunning. He said, "We have developed a very very sophisticated price floor system for critical minerals. A price floor system, let me explain what that means. A price floor is a minimum price. It is the government saying no matter what happens in the market, the price will not go below this level." For example, if the government sets a price floor of $60 for silver, that means even if the comics tries to crash the price to $40, the government will step in and buy at 60 to support the price. This is massive. This is the government admitting that the free market does not work for strategic commodities. This is the government saying, "We are going to intervene to make sure miners can operate profitably." Why? Because the Trump administration has realized something very important. If you want to rebuild the domestic supply chain, if you want miners to invest billions of dollars in opening new mines, you need to guarantee them a profitable price. You cannot have Wall Street banks crashing the price every time a mine tries to open because if the price crashes, the mine shuts down. And then you do not have a domestic supply chain. You are dependent on China again. So the government is implementing a price floor and according to Jacob Hellberg, this price floor system is very, very sophisticated. Now, he did not say what the exact floor price is, but let me give you my educated guess. I think the floor is somewhere around $60 to $70. Why? Because that is where First Majestic is selling. That is the real physical price. So, if the government wants to support domestic miners, they need to set the floor at the level where miners can actually make money. And that level is $60 to $70. Not 55, not 40, 60 to 70. Now, here is why this is so important. If the government sets a floor at 60 or 70, that means the comics paper price is no longer relevant. Because even if the banks try to crash the paper price to $40, the physical price will stay at 60 or 70 because the government is supporting it. So the paper market loses all power, the physical market takes over and the physical price is $60 to $70 right now and it is going higher because the shortage is getting worse and the government is now guaranteeing that the price will not go below a certain level. This is the end of price suppression. For decades, the banks have been able to manipulate the silver price down whenever they wanted. They would dump paper contracts and crash the price and miners would go bankrupt and the supply would shrink and the banks would profit. But now the government is saying no more. We need a stable, profitable price for silver because silver is a strategic mineral and we cannot allow Wall Street to destroy our supply chain for their short-term profits. So they are implementing a price floor and that price floor is going to act as a safety net. The price can go up but it cannot go down below the floor and that changes everything because it means the downside is limited but the upside is unlimited. If you buy silver now the worst case scenario is that it goes to the floor let us say $60 but the best case scenario is that it goes to 100 $150 $200 or more that is an asymmetric bet and asymmetric bets are the best bets in the world. Now why is the Trump administration doing this now? Why not last year? Why not five years ago? Because the comics is about to run out of silver. And if the comics runs out of silver, the entire financial system is at risk. Let me show you the math. The comics has two types of silver inventory, registered and eligible. Registered is the silver that is available for delivery. It is the metal that backs the futures contracts. If you stand for delivery, the comics gives you metal from the registered inventory. Eligible is silver that is stored at the comics, but is privately owned. It is not available for delivery unless the owner decides to move it to registered. Now, here's the problem. The registered inventory is collapsing. At the beginning of 2025, the registered inventory was around 200 million ounces. Today, it is approximately 89 million ounces. That is a drop of 111 million ounces in just over a year. 111 million ounces drained. And the pace is accelerating. In the last few months, the Comics has been losing about 20 million ounces per month from registered inventory. 20 million per month. Now, let me do the math. If the comics is losing 20 million ounces per month and they have 89 million ounces left, how long until they hit zero? 89 divided by 20 equals 4.45 months, 4 1/2 months. But here is the catch. It does not happen linearly. As the inventory gets lower, the panic gets worse. More people stand for delivery. The drain accelerates. So, we are not looking at four and a half months. We are looking at weeks. And some analysts are predicting that the registered inventory could effectively hit zero by March 6th. March 6th, that is 15 days from now. Now, what does effectively zero mean? It means that the inventory is so low that the comics cannot fulfill delivery requests. Even if there are technically a few million ounces left in registered, if there are delivery requests for 10 million ounces, the comics cannot deliver. They are functionally out of silver. And when that happens, they have to declare force majour. They have to admit they do not have the metal. They have to cash settle the contracts. And when they do that, the paper market dies. the price explodes because everyone realizes the comx was a fraud all along. Now you might be thinking, "But John, what about the eligible inventory? Can they not just move some of that to registered?" Great question. And the answer is no, they cannot because the eligible inventory is privately owned. Those bars belong to people and those people are not moving their silver to registered. Why? Because they can make more money somewhere else, specifically in Shanghai. Right now, silver in Shanghai is trading at a massive premium to the comics price. The Shanghai premium has been as high as $15 or $20 over comics spot. So if you own silver sitting in the comics eligible inventory, why would you move it to register to help the comics deliver at $55 or $60 when you can ship it to Shanghai and sell it for $75 or $80? You would not. So the eligible owners are pulling their silver out of the comics and shipping it east to capture the premium. And that is why the eligible inventory is also dropping. So the banks cannot count on eligible to save them. Eligible is leaving. registered is collapsing and the comics is heading towards zero and March 6th is the projected date. Now I want to be very clear March 6th is not a guarantee. It is a projection based on current drain rates. If the drain slows down the date could be later. If the drain accelerates the date could be sooner. But the key point is this. The comx is running out of silver. And it is happening fast. And that is why the Trump administration is implementing a price floor now because they know what is coming. They know the comics is about to fail and they need to make sure that when it fails, there is a safety net, a price floor that prevents total chaos. Now, here's what I expect to happen in the next few weeks. The banks are trapped. They are short. They're losing money every day the price stays high. And they know that on March 6th, or sometime around then, the comics is going to run out of silver. So, what are they going to do? They're going to try one last desperate move. They're going to try to crash the paper price. Specifically, they are going to do it at the end of the month. End of month is when traders close out positions. It is when options expire. It is when the charts get painted for technical analysis. And the banks know this. So, they are going to dump massive amounts of paper contracts in the last few days of February. They are going to try to push the price down to trigger stop-loss orders to scare retail investors into selling to make the charts look bearish so that when March starts, people think the rally is over. This is a classic manipulation tactic. And I am warning you now, do not fall for it. If the price drops $5 or $10 in the last week of February, it is not because demand is gone. It is because the banks are desperate. They are trying to shake you out before the comics fails. So when you see the price drop, do not panic. Do not sell. In fact, if you have cash, buy more because that drop is going to be the last buying opportunity before the explosion. Now, let me address the people who are going to say, "But John, the banks can just move eligible to registered. Problem solved." No, they cannot. And here's why. Eligible silver is privately owned. It belongs to individuals, to companies, to funds. Those owners are not obligated to help the comics. In fact, those owners are actively pulling their silver out of the comics to sell it in Shanghai or India or wherever they can get the best price. Why would they move it to registered to help the shorts? No, they would not. So, the eligible inventory is not a solution. It is a red herring. The banks want you to look at the eligible number and think, "Oh, there is still plenty of silver at the comics." But there is not. The only silver that matters is registered and registered is collapsing and it is going to hit zero in a matter of weeks. Now, let me bring all of this together. First, Majestic just released earnings showing they sold silver for 6974 while the comics was at 55.20. That is a 26% premium. That proves the paper price is fake. The Trump administration just announced a sophisticated price floor system for critical minerals, including silver. That is the government admitting they are going to intervene to support the price. The Comics registered inventory is collapsing at 20 million ounces per month, and it could hit zero by March 6th. The banks are going to try one last desperate move at the end of February to crash the paper price, but it is not going to work because the physical shortage is real and the physical buyers do not care about the paper price. All of these factors are pointing to the same conclusion. The paper market is dying. The physical market is taking over and the price is going to explode. So, what should you do? If you own physical silver, hold it. Do not get shaken out by end of month volatility. The banks are going to try to scare you. Do not let them. If you own paper silver ETFs, futures contracts, you need to seriously think about converting to physical because if the comics declares force majour, your paper might get cash settled at $60 or $70 while the physical market is trading at 150. If you do not own any silver yet, now is the time to buy before the end of month crash if possible. But even if you miss the bottom, buy anyway because once March starts, once the comics crisis becomes obvious to everyone, the price is going to gap up and you are not going to get another chance. Now, let me give you some historical context because what is happening right now has happened before. In March 1968, the London Gold Pool collapsed. The London Gold Pool was a group of central banks that agreed to sell gold to keep the price at $35 per ounce. But they ran out of gold. They could not keep up with demand. And on March 15th, 1968, they closed the gold market for two weeks. When it reopened, the price exploded. It went from $35 to $40 almost immediately. And over the next 12 years, it went to $850, a 24 times increase. The comics silver situation right now is very similar to the London gold pool in 1968. The comics has been suppressing the price with paper contracts, but they are running out of physical metal. And when they run out, the market is going to close or go to cash settlement. And when that happens, the physical price is going to explode just like gold did in 1968. So if you understand history, you know what is coming. The paper market is going to fail. The physical price is going to take over. And the people who are holding physical metal are going to make a fortune. Now, let me talk about the Trump administration's price floor in more detail because this is a bigger deal than most people realize. For decades, silver has been treated as a commodity, something that is traded freely in the market with no government intervention. And that free market approach worked fine when silver was just used for jewelry and silverware. But silver is not just a decorative metal anymore. Silver is a strategic industrial metal. It is used in solar panels, electric vehicles, military equipment, electronics. It is critical to the green energy transition. It is critical to national security. And if you treat a strategic metal like a free market commodity, you run into problems because Wall Street banks can manipulate the price down. They can short the market. They can crash the price. And when the price crashes, mines close, supply shrinks, and then you do not have enough silver for your solar panels or your missiles. And you become dependent on foreign suppliers, specifically China. So the Trump administration has realized that you cannot treat silver like a free market commodity anymore. You have to treat it like a strategic resource. That means implementing a price floor, a guaranteed minimum price that ensures mines can operate profitably. This is what China has been doing for years. China does not let the free market determine the price of rare earth elements. They control the price. They set floors. They manipulate the market to benefit their domestic industry. And now the United States is doing the same thing with silver. This is economic nationalism. This is protectionism. This is the government picking winners and losers. And some people are going to hate it. Some people are going to say the government should not interfere in the market. Why? But here is the reality. The market has been manipulated for decades by the banks. So the government is not interfering in a free market. They are interfering in a rigged market. And they are rigging it in favor of domestic producers instead of Wall Street shorts. And honestly, I am fine with that because I would rather see American miners succeed than see JP Morgan profit from shorting silver. Now, what does this mean for the price? It means the downside is limited. If the government sets a floor at $60 or $70, the price is not going below that no matter how hard the banks try to manipulate it down. But the upside is unlimited because the physical shortage is real and the industrial demand is exploding. So the price can go to 100, 150, 200 or higher. The floor protects you from a crash, but it does not stop the rally. This is the perfect setup for a long position. Limited downside, unlimited upside. Now, let me address the skeptics one more time. The people who think the comx is never going to fail. The people who think the banks always find a way to wrigle out. You're right that the banks always find a way. But the question is, at what cost? In 1980, when the Hunt brothers tried to corner the silver market, the comics changed the rules. They went to liquidationonly trading. You could sell, but you could not buy. And the price crashed from $50 to $10. The banks won, but at what cost? The Hunt Brothers went bankrupt. The market lost all credibility and it took 20 years for silver to recover. So yes, the comics can declare force measure. They can change the rules. They can cash settle all the contracts. But if they do that, the paper market is dead. No one will ever trust comics silver futures again and the physical price will disconnect completely. So the banks can win the battle. But they lose the war. And that is what is happening now. The banks are going to cash settle. They are going to declare force majour. They are going to change the rules. But when they do, the paper market dies and the physical market takes over. The physical price is 6974 according to first majestic and it is going higher. So do not think the banks are invincible. They are not. They are trapped and they are about to lose. Now let me talk about what happens after the comics fails because a lot of people are asking if the comics goes to cash settlement where do we get our price discovery? Great question. And the answer is from the physical market, specifically from miners like First Majestic and from the Shanghai Futures Exchange and from the premiums that dealers are charging. The price is going to be set by the people who actually have the metal, not by the people who are trading paper contracts. And that price is going to be much much higher than the current comx price. How much higher? I do not know exactly, but if First Majestic is selling for 6974 now and the shortage is getting worse, I would guess the physical price is going to be 80, 90, $100 or more in the next few months. And once the comics fails, well, once the paper market is discredited, that is going to be the only price that matters. So, when you see the comics price at $55 or $60 right now, do not think that is cheap. Think about what the real price is. The price that First Majestic is getting 6974. That is the real price. And it is going higher. Now, let me give you the timeline as I see it. Between now and the end of February, the banks are going to try to crash the paper price. They're going to dump contracts. They're going to trigger stop- losses. They are going to create fear. Do not fall for it. That is the last shakeout before the explosion. on March 1st or sometime around then we are going to start seeing reports of delivery failures at the comx. Maybe small at first, maybe just a few contracts that get cash settled instead of physically delivered. But it is going to accelerate and by mid-March the crisis is going to be obvious. The comics is out of silver and they are going to have to make an announcement either force majour or rule changes and when that announcement comes the price is going to gap up maybe $10 or $20 in a single day and from there it is going to keep going up to 80 to 90 to 100 and beyond because the physical shortage is real and the industrial buyers are desperate and they are going to pay whatever it takes to get the metal. So the timeline is very short. We are talking about weeks, not months, not years, weeks. So if you are going to take action, take it now. Do not wait. Do not think you have all the time in the world. The window is closing. Now, let me summarize everything I just told you. First, Majestic released earnings showing they sold silver for 6974 while the comics was at 5520. That is a 26% premium. That proves the paper price is fake. The Trump administration announced a sophisticated price floor system for silver. That is the government intervening to support the price. That is the end of price suppression. The comics registered inventory is collapsing at 20 million ounces per month. It could hit zero by March 6th. That is 15 days from now. The banks are going to try to crash the paper price at the end of February. Do not fall for it. It is a desperate last move. The eligible inventory is not going to save the comics because the owners are pulling their silver out to sell it in Shanghai. All of these factors are pointing to the same conclusion. The paper market is dying. The physical market is taking over. And the price is going to explode. So hold your silver. Do not get shaken out. If you do not have any, buy now before it is too late. This is John AG from Currency Archive. It is Wednesday, February 19th, 2026. First Majestic is selling silver for 6974. The Trump administration is implementing a price floor. The comics is heading towards zero by March 6th. The banks are going to try one last manipulation at the end of the month. Do not let them shake you out. The physical shortage is real. The paper market is fake and the explosion is coming. Stack now. Hold tight and get ready. Remember to like, subscribe, and share. The target is 100, $150, $200 or more. The endgame is here. The comics is about to fail. Do not miss it. Remember to like, subscribe, and share.