Silver went up 120% in 60 days. So we'll see if that happens again here. But what you are witnessing to me is the realization by some very big money big money traders that they have the you know these western entities that are playing this game kind of trapped in the respect that let them keep playing their game we'll keep standing for delivery and you can see that in the everinccreasing delivery numbers. Someone or someone's are um saying fine go ahead knock it down we will continue


to stand for delivery. I don't know. I just think that Rick is right from a standpoint of recency and normaly bias. But if indeed these deliveries continue the way that they have, these games will will end up being an existential threat to those that are silly enough to suppress the paper price to that degree. Silver deliveries may be lower than the massive January numbers, but historically they remain very strong, especially since January and February are usually minor delivery months. At the same time, the gold market has


cooled compared to the surge earlier in 2025. Yet, demand continues to stay resilient, even with prices near all-time highs. Silver, however, is showing particularly strong underlying demand. Large amounts of metal are leaving exchange vaults and the market has moved into backwardation where buyers are willing to pay more for immediate delivery than future contracts. When backwardation appears alongside rising demand and increasing vault withdrawals, analysts often view it as a powerful bullish signal for the


silver market. Precious Metals expert Andy Sheckchman notes that short-term price suppression may still occur with sudden sell-offs during thin trading hours that he describes as driveby shootings. However, he believes deeper structural pressures are building as physical demand rises and confidence in the paper trading system weakens. With increasing COMX delivery requests, continued backwardation, and metal leaving exchange vaults, large short positions are becoming riskier. If physical demand begins to overpower


paper market dynamics, price discovery could shift rapidly, potentially setting the stage for a major move in the precious metals market. Are you curious about investing in gold and silver, but feel held back by fear or confusion? This ebook is designed especially for new investors who want clarity, not complexity. It breaks down gold and silver trading strategies in a simple, practical way. No jargon, no hype. Why wait? Hurry up. Please visit this link to get your copy today and use code Dundeep for a huge discount. More than


1,000 people took the first step with this ebook and today they're living proof that smart investing changes lives. This ebook is available in Amazon Kindle. So I've always looked to what Jim Sinclair said uh called it mope management of perception economics that seems to rear its head at the beginning of every one of these conflicts where we will see management of the escalation um of the metals prices. We will often see the equities markets outperform. We will see um dollar intervention. The


dollar stay strong. In other words, the last thing that the powers that be want in the midst of some sort of a of of a global conflict is to see gold and silver go to the moon, the dollar to sell off, the markets to tank. As many people would expect, the financial engineering is always um something that amazes me, the ability of what they're able to do. But I would say that this will be, you know, at least in the case of gold's up a little bit, silver's sold off and, you know, on top of everything,


this comes in the face of what Bank of America just said, maybe one of the boldest silver calls ever. Um, you know, their their head of metals research, Michael Whidmer, I think is his name, said silver can reach between 135 and 309 by the end of this year. He he wasn't even talking about this. uh he was he was talking about the gold to silver ratio and the reality that silver tends to lag gold early in the bull market and then later stages it moves violently. So anyways the bottom line is is that what we are seeing globally I


think is probably far more impactful than the markets will lead us to believe at least initially. So, uh, I would I would urge everyone to pause and have a little caution in terms of the way they think things are going to play out here, um, over the next, uh, over the next several days. And we'll see what happens ultimately to the price. To your point about Rick, I far be up for me to ever question the wisdom of someone like Rick who has seen more than I have and might be one of the smartest people I've ever


known. But I will say one thing. If I were going to try and quietly push back against Mr. rule. I would simply say that yes, this is true, especially when no one ever stands for delivery, but the amount of delivery that we see is making naked shorting a very, very dangerous game and continues to play into the hands of those that are standing for delivery. And I think that that's really the crux here. What is changing the landscape of of the metals market in my mind is is a system that has lost its


integrity and a system that no longer carries the kind of trust that it needs to have to be the global benchmark. When you see a market in continued backwardation that is normally never in backwardation, it's normally in contango where the current price is less than the futures price. The futures price takes into account interest, storage, the cost of money. But for a long period of time, it continues to trade in backwardation. Meaning we want it now. We don't trust the future. We don't trust the exchange.


We don't trust any of it. We want it now. When we see repatriation from the central banks, from the Bank of England, the New York Fed, that means we don't trust the system. And when you see in the month of February roughly 15 million ounces more delivered off of COMX than was delivered into the exchange or should I say leaving COMX than was delivered into COMX. In other words, 15 million more ounces left the building than deliveries can explain. Um you began to understand a trend and that


is a trend of erosion of confidence and trust in a paper market. uh continuing to short that market when there are very well-healed and and sophisticated traders from central banks to sovereign wealth funds standing for delivery where price misdirects most people and most institutions but not these folks. It's a dangerous game and it's one that won't end well in my opinion. You're beginning to see that. Now, I would simply say, if I had to guess, the folks that are standing for delivery are far more


sophisticated than they are emotional. And the emotion is, well, you know, they continue to be able to do this. How can they continue to do it? How can they continue to suppress the price? They'll do it indefinitely, but they won't because the demand for delivery continues to outpace expectations, continues to outpace um any precedent. And so this is the little by little by little and that's the part people have a hard time with this entire era of instant gratification and it not being fast enough I think is being


attacked methodically in a very regimented way where they will continue to slowly bleed the exchanges at a manner that doesn't stop everything in its tracks by just throwing all the money and say no we want delivery they will play the game until the game is no longer able to be played. Hit subscribe and stay one step ahead.