[music] And again, when you see vault withdrawals, 164% of the February delivery demand, again, this is is telling you that players would rather pull that out, deal with the logistics, the security, the insurance themselves because they don't trust leaving it within the ComX eligible category. Um, you know, it's this is insane. And if we look at the March 2026 open interest 2 days ago, it was almost 48,000 contracts representing 240 million ounces. They just knocked the hell out of it. Uh and got it on sides.


And again, but at what at what cost? They got it down to over just under 10 million open interest that there is enough silver to be delivered. But at what cost? When you see the market close after starting to move up, close or or shut down because of some fault and then open up and get clobbered right then and there, it just becomes so obvious. Uh if it were me and I had this kind of exposure to the market, I would stand for delivery and I would pull it the hell out of the exchange as fast as I


possibly could because it's telling you by their actions. Regardless of who said to do it and who was behind it, it's telling you by their very actions. It's a system that cannot be trusted anymore. >> I mean, let's see how this price explodes after this. >> Totally. >> You know, I love putting you on the spot with a with a price forecast cuz you've been so right before. [sighs] >> I hate making the price forecast, but it's interesting when you look at it. It


seems like 70 is the floor and 90 is the ceiling for now in a trading range, a wide trading range between 70 and 90. It seems to get bought every time it drops below 70. It seems to get sold every time it touches 90. Yesterday was a good example. Bust through it and bang, they hit it. And that's something that we've seen throughout all of the years. There are these these ceilings and these floors and they try to get, you know, they try to get through it, they get knocked down, they fall below it, and


they come back up. Where does it ultimately go? I guess we'll see. But for the foreseeable future, I think $90 is a safe bet as to how high it will go without running into this kind of overt resistance. But that's just building steam and trading in a range before it makes its next violent leg upward based on supply running into a very big problem with more demand than there is supply. >> 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. Start investing fearlessly, wisely, and with a clear strategy. Gold is reaching record highs. Central banks


are accumulating it at one of the fastest paces in history. US debt has surged beyond $34 trillion. And meanwhile, silver is quietly being withdrawn from major exchanges at a rate most investors aren't even noticing. This isn't just another typical commodity cycle. According to Andy Shechman, what's happening in the gold and silver markets right now may signal something much deeper? A shift in global trust, liquidity flows, and control over price discovery. So, what's really going


on? When gold climbs to record levels while central banks aggressively accumulate, it often reflects declining confidence in fiat currencies and sovereign debt systems. At the same time, persistent withdrawals of physical silver from major exchanges can point to tightening supply beneath the surface, even if paper markets appear stable. Layer that onto a backdrop of expanding US debt and rising geopolitical tension, and the bigger picture starts to emerge. This may not simply be about price appreciation. It may be about structural


change in who sets prices, where liquidity resides, and how trust in financial systems is evolving. In other words, the silver chart alone doesn't tell the full story. What we could be witnessing is a gradual shift in the balance of financial power from paperbased leverage systems toward physical ownership and potentially from western dominated pricing hubs toward new global centers. Let's break down what that means and why it matters far beyond just gold and silver. >> I mean, if I had a gun to my head, I


would say that the inordinately large deliveries between 30 and 70 million ounces every month for the last 15 16 months is partially the US government under the the umbrella of the exchange stabilization fund where they if it's national security do not need to get congressional approval and do not need to speak about it. And again, who is pulling 38 million ounces out? Where is it going? To your point, um, could it be Samsung and Sony and Tesla? Sure, it could. But could it be the national government or or the the Treasury


Department? Absolutely it could. Big players who don't have the metal to deliver. We've been seeing a repetitive trend of standing for delivery. Again, this is a market in backwardation where in your possession now is preferred over holding it into the future. And it, you know, Fool me once, shame on you. Fool me two, three, and four times, shame on me. And for even believing that the system is is legit. And you're right, they the the rumor is that 31,828 contracts were dumped onto the market


while the public was locked out. And then when the market opened, silver was slammed by over $4. And and again, I'll just say, remember November, what was it? 28th, the same trick. And after that happened, silver went up 120% in 60 days. You can only manipulate a market for an extended period of time by pushing it in the direction that it is going. And this market has never gone this way across the globe with the biggest traders really really showing you that they prefer physical delivery. And this is a dangerous game that is


being played um at the highest of levels and now right in front of your face. So it's to bail out a big player who's off sides with zero time left to to make good on that that delivery obligation. >> Well, firstly again the timing here. This happened at contract expiration and that's the date when a futures contract either needs to stop trading or must be settled in cash or fulfilled through physical delivery. So that happened right before contract expiration. >> But again, who would be I mean the CME


is is a for-profit organization. So when they do things like this, it obviously discredits them, impacts credibility, impacts future business. who would have the clout or the influence to call up someone at the CME and say, "Hold this." >> The big the big shareholders, the the banks. These are the ones that have all the seats. And um it's the same thing that happened in 1980 when the Hunt brothers witnessed the exact same situation we see here. More contracts than bars buy up all the contracts,


stand for delivery, and they made the market at that point sell only and uh collapse the price. And so these are the games that the CME group plays in an in a desperate attempt to to keep the game going. But you know, when you realize that that there are not only exchanges in Shanghai, in Stv. Petersburg, the new bricks proposal in um all throughout you know the the the belt road initiative all of these exchanges that are being built but in particular the ones in Shanghai and Dubai Singapore these


exchanges are are saying chomping at the bit saying you know if this is what we can expect in the global price setting hub and the problems we've seen at the LBMA they're just waiting for the opportunity for this to blow up in terms of lack of trust and move price setting to the part of a world that understands and appreciates and accumulates physical metal and um and they've been using this against us in terms of our price setting and our price manipulation and this is a desperate attempt at the last minute.


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