| | | Circus Maximus.... 3, 2, 1 Gladiators commence!!!
THE GLADIATOR MOMENT: Silver rockets to $121 and Flash Crashes Back to $106, the Growing Shanghai Premium over the Paper Markets, The Unchanging Fundamentals, October 25' Vibes, & General Maximus!
There are no words to adequately describe what we are witnessing in the silver market right now. It is a moment that will be studied by financial historians for decades to come. We are living in the death throes of the paper market.
As I write this, the Shanghai Futures Exchange (SHFE) just printed a price of ¥33,488 per kilogram for silver. That is $149.77 per ounce. At the same time, the COMEX in New York flash crashed to $106.72 per ounce. and then back up to $114.
This is not a typo. There was a $41.50 per ounce premium for physical silver in China only a few short hours ago. The arbitrage window is not just open; it has been blown off its hinges.
This is not a market. This is a war. It is a war between the paper shorts in the West, who are desperately trying to suppress the price and maintain the illusion of control, and the physical buyers in the East, who are willing to pay any price to secure every last ounce of real, tangible metal. And the East is clearly winning.
Every time the paper market tries to slam the price down, the physical buyers in China step in and say, “thank you for the discount.” They are draining the Western vaults at an accelerating pace, and the metal is not coming back.
It is being consumed by the insatiable demand from industry such as technology, A.I, military modernization, energy, government stockpiling, and from a global population that is losing faith in paper assets.
The moment we are witnessing is where the physical reality of the silver market is overwhelming the paper fiction. The price slams will continue, but they are the desperate, flailing punches of a dying empire.
They are the last gasps of a system that has lost all credibility. The reality is, because of the macro backdrop, fundamentals, and lack of mining supply coming to save the day, this silver bull is unkillable, and it is about to trample everything in its path.
- You need to know Shanghai silver hit $149.77/oz. The SHFE printed a price of ¥33,488/kilo, while the COMEX flash crashed to $106.72. This is a $41.50/oz premium, a clear sign of a desperate physical shortage.
- You need to know the paper market is losing control. The massive divergence between the Shanghai and New York prices is proof that the paper shorts can no longer dictate the price of silver. The physical market is taking over.
- You need to know the price slams are psychological warfare. The violent pullbacks are designed to shake us out, to make us question the thesis, and to steal our hard-earned gains.
- You need to know this is not 2011. The fundamentals today are exponentially stronger than they were during the last silver bull market. I will detail below.
- You need to know the U.S. Dollar is breaking down. The DXY is breaking below a trendline that has been in place since 2008. This is significant.
- And you need to know this is the Gladiator moment. Think the 2000 Russell Crowe and Joaquin Phoenix movie.
Silver just rocketed to $121 and flash crashed back to $106 and rose back to $114. The growing Shanghai premium is wresting control over the western paper markets. The fundamentals are unflinching and unchanging and intensifying by the day. And this all has October 2025 gold slam vibes!
Let’s Dig Into The Following:- What we are seeing and living through is an epic, violent stage of the physical market trying to break free from decades of suppression through the paper markets. For years, the price of silver has been dictated not by the fundamentals of supply and demand, but by the trading of paper contracts on the COMEX and the LBMA. These paper markets, which trade hundreds of ounces of paper silver for every one ounce of physical metal that actually exists, have been used to suppress the price and maintain the illusion of abundance. Why they have been very successful for decades, until recently!
- This is not 2011 and this time IS very different. The bears and the skeptics will tell you that we have seen this movie before. They will point to the 2011 silver bull market, where the price spiked to nearly $50 an ounce before crashing back down to the teens. They will tell you that this is just another bubble, another speculative frenzy that will end in tears. They are wrong. This is not 2011. It isn’t even close. Why the fundamentals today are so radically different, so exponentially stronger, that any comparison to the past is meaningless, it’s like trying to compare apples and monkeys!
- The psychology of these market slams is fierce and can take its toll on us all. The price slams are not random. They are not the result of natural market forces. They are a coordinated, deliberate attack designed to achieve one goal: to shake us out of our position. Think about it; We have been holding silver for months, maybe years. We have watched it grind higher, slowly and painfully. We have endured the doubt, the ridicule from friends, family, and social media connections who think we are crazy for investing in a “barbarous relic.” And then, finally, our patience is rewarded. Silver explodes higher. It goes from $60 to $120 in a matter of weeks. We are up 50%, 100%, maybe more. We are starting to believe. We are starting to dream about what we will do with our gains. And then, without warning, the rug is pulled out from under us. Silver crashes from $117 to $103 in a single day. Our gains evaporate. The fear sets in. The doubt returns. We start to question the thesis. We start to think, “maybe they are right, this is the top. Maybe I should sell and lock in my profits before it all disappears.” Why this is exactly the kind of fear based thought process they want us to have!
- The October 2025 gold playbook has eerily similar vibes. WE have seen this movie before. In October 2025, gold experienced a massive, parabolic spike. It surged towards $4,400 in a matter of weeks. The narrative was very bubbly. The technical indicators were screaming “overbought.” The Bollinger Bands were stretched to levels never seen before. The price was trading far above all moving averages. And the “experts” came out in droves to declare that gold had topped, that the bull market was over, and that a multi-year correction was coming. It dipped about 10% but never crashed. Why those “experts” who called the top in gold at $3,900 were not just wrong; they were catastrophically wrong! {gold is over $5,300}
- The U.S. dollar decline is the final domino. One of the most important and underappreciated drivers of the silver bull market is the breakdown of the U.S. Dollar. The DXY, the index that measures the strength of the dollar against a basket of foreign currencies, is breaking down from a trendline that has been in place since 2008. This is not a minor technical event; this is a structural shift in the global monetary order. President Trump was asked about this the other day and he expressed happiness with the way the dollar is behaving. Why it is clear a weaker dollar is exactly what this administration wants and is getting!
- And we are living in the Gladiator moment right now. In the final scene of the movie Gladiator, the corrupt and cowardly emperor Commodus challenges the heroic general Maximus to a duel in the Colosseum. But before the duel begins, Commodus goes to Maximus in the dungeons and stabs him in the side, a mortal wound that he then covers with armor. He believes that he has secured his victory, that he can defeat the wounded general in front of the Roman mob and solidify his power. He was dead wrong and Maximus, driven by a righteous fury and a desire for vengeance, overpowers the emperor, despite the flailing attempts by Commodus. Why the paper shorts are Commodus and the physical silver market is Maximus!
|
|
