Learn about the powerful combination of bullish forces now coming together to launch one of the most explosive silver bull markets in history, which is likely to drive prices to $300+.
As a voracious reader, bibliophile with a large personal library, an advocate for literacy, someone concerned with declining literacy in our society, and a prolific writer, I understand where you are coming from, but 99.5% of my content is text-based and will continue to be.
Nothing is changing in that regard. This newsletter will not become 'video-fied.'
But I also have a YouTube channel with decent number of subscribers and I occasionally publish presentations on there so that I can reach a new audience and figured that my Substack subscribers would appreciate them as well, which they overwhelmingly do.
I send these presentations out to be helpful and to keep the content interesting and varied—i.e., to switch things up from time to time. The feedback has been incredibly positive and encouraging.
Thanks, a huge relief. As a dedicated reader, and someone who prefers to read, digest and mull over what you write, the thought of video's filled me with horror. With reading, the content is 'taken in', absorbed and appreciated, (to be savoured like a fine wine.) whereas video's are 'pushed in' and are the equivalent of chugging an inordinate quantity of luke-warm beer, while hanging upside down at a 'keg' party..... thanks again...........
Yes, I completely understand. I also prefer text-based content over video, which is why I went the newsletter route over YouTuber or podcaster route.
I also find text-based content to be much more efficient than video for getting up to speed on information as I can quickly scan for what I am interested in rather than being forced to sit through an entire video that may or may not have what I'm looking for in it.
At the same time, I can see the value in detailed video presentations, which is why I create them every once in a while, but it's secondary or even tertiary to my main focus.
Hey Jesse. Thank you for the detailed analysis. I'd really appreciate if you'd include commodity forecast/summary in your upcoming works. Popular ETFs like PDBC looks very cheap and being traded with very low volatility seemingly with a strong support at $12-13.
Fantastic stuff. Not a new statement, but great calls on these markets. I really look forward to your analysis utilizing world currencies and the SSPI (silver). These markets are interconnected and you describe it in layman's terms. I hope your subscriber list breaks out just like the metals. Looking forward to your next newsletter! Thanks so much!
Thanks, Bob! I'm happy everything is working out as I expected. We are in a very strong position heading into the year-end.
Yes, my subscriber list is absolutely breaking out! It's like a 99% correlation with the metals ;)
I launched it just one year ago and went from zero to 10,000+ total subscribers and became a Substack bestseller just two months in.
Of course, I was new to Substack, but not the financial markets or media and already had a big following after writing an online Forbes column for 11 years + being very active on social media:
GDay Jesse - thanks for this timely and (as usual) top quality report. I am interested in your thoughts about ETFs, which are “paper”, and I am aware of the warnings from wise advisors that ETF investors might not be able to redeem physical in a crunch.
During your presentation you mentioned (correct me if I don’t get this right) that during a Silver Squeeze event the price of physical may rocket whilst the price of paper assets might tank or fall to zero. So my question is:
If I held ETF shares (and assuming I am at the bottom of their priority list for physical allocation):
1. How will I know when to sell? and
2. Are they not legally obligated to cash their ETF shareholders out rather than let the shares sink to zero?
Some explicitly hold physical gold and silver (like Sprott's PHYS and PSLV), while others don't hold any and just use derivative to track those metals' prices.
The former ones are far more sound/robust than the latter, though physical bullion in your own possession is always the least risky.
It's important to read the prospectuses of each ETF and see what the legal arrangement is.
And, yes, I said that the price of physical may rocket whilst the price of paper assets might tank or fall to zero. That applies more so to ETFs that don't actually hold physical bullion.
As far as when to sell precious metals, I have no interest in selling until gold is at least $15,000 and silver is $300+, so we have some time to think about that strategy.
But it's certainly possible that flimsier ETFs that don't hold physical PMs may "break" before then—especially as the PM bull market and squeeze heats up. There's no way to predict when something is going to break, unfortunately.
And, it's a case by case situation, but they may remunerate their ETF shareholders, but with devaluing fiat currency, which is no comfort in a strong inflationary or hyperinflationary scenario.
Dear Jesse - thank you so much for your thoughtful reply. This is a huge help. It is what I thought, but I wasn’t actually certain. These shares are held in a Superannuation Account that I manage on behalf of my wife. It’s probably like your 401K??? A long term bank deposit scheme to save for retirement with compulsory contributions from your employer of 14% of salary for all permanent employees. As a nation we have $4 Trillion in funds under management. The largest retirement benefit scheme in the world, introduced by the Labor Party in the 1980s. Individuals can “self manage” their account, but we cannot withdraw until we are 67yo. We cannot buy physical with these funds so the only exposure I can secure for my wife is via ETFs and we have done exceptionally well because I put large investments into our local JP Morgan managed Gold and Silver ETFs. I took profits on the Gold, but have held the Silver and now with the frenzy and speculation I need to know exactly how risky it is in the event of a squeeze.
I followed your reply with a detailed question session to Grok, and ultimately Grok confirmed “No, there is no guarantee of redeeming shares for physical” despite the fact that the local ASX:ETPMAG (JP Morgan) is backed by physical. The PDS gives JPM a lot of “outs”, which I strongly suspected but now know for certain. What it means for me now is I must stay constantly vigilant and watch both Spot and the ETF share price in the event of a squeeze. This is not the kind of account where I would want to be greedy or take big risks. We have done exceptionally well and I want to be certain to lock in the profits the moment I think it’s looking too crowded.
My physical AuAg stacks are held completely separate to that and they are 100% safe.
And I have both of my daughters as shareholders in a silver explorer recently turned developer ASX:SVL. They are both at uni, and I have invested enough in their names that I think we will be able to get them into property by the time SVL is in production. That’s the plan anyway, combined with using it as a tool for teaching them about PMs and investing in stocks.
As always, I am very grateful for your time and thoughts. Yes I understand you are not providing financial advice. I would not ever put you in that position. It is just highly valued educational discussion.
I know that you’ve been a silver advocate for savings before the big 2025 rise on the spot silver price. I especially look forward to your silver analysis finding it to be both accurate and useful. Thanks for putting out so many reports! The world is moving quickly, and it’s ever so nice to be appraised of what is happening when it does happen. Not afterward. 😂.
personally i dislike videos and prefer to read. i will unsubscribe if this becomes 'video-fied'
As a voracious reader, bibliophile with a large personal library, an advocate for literacy, someone concerned with declining literacy in our society, and a prolific writer, I understand where you are coming from, but 99.5% of my content is text-based and will continue to be.
Nothing is changing in that regard. This newsletter will not become 'video-fied.'
But I also have a YouTube channel with decent number of subscribers and I occasionally publish presentations on there so that I can reach a new audience and figured that my Substack subscribers would appreciate them as well, which they overwhelmingly do.
I send these presentations out to be helpful and to keep the content interesting and varied—i.e., to switch things up from time to time. The feedback has been incredibly positive and encouraging.
Thanks, a huge relief. As a dedicated reader, and someone who prefers to read, digest and mull over what you write, the thought of video's filled me with horror. With reading, the content is 'taken in', absorbed and appreciated, (to be savoured like a fine wine.) whereas video's are 'pushed in' and are the equivalent of chugging an inordinate quantity of luke-warm beer, while hanging upside down at a 'keg' party..... thanks again...........
Yes, I completely understand. I also prefer text-based content over video, which is why I went the newsletter route over YouTuber or podcaster route.
I also find text-based content to be much more efficient than video for getting up to speed on information as I can quickly scan for what I am interested in rather than being forced to sit through an entire video that may or may not have what I'm looking for in it.
At the same time, I can see the value in detailed video presentations, which is why I create them every once in a while, but it's secondary or even tertiary to my main focus.
🙏🙏🙏
😉
Excellent piece Jesse. Been enjoying Silver’s ride since early summer - Still early stages. Your analysis is fantastic. Cheers.
Thanks! Much more to come. Yes, silver looks excellent, I have to say.
Hey Jesse. Thank you for the detailed analysis. I'd really appreciate if you'd include commodity forecast/summary in your upcoming works. Popular ETFs like PDBC looks very cheap and being traded with very low volatility seemingly with a strong support at $12-13.
Yes, I hope and plan to discuss other commodities soon. Thanks for the reminder and feedback.
Fantastic stuff. Not a new statement, but great calls on these markets. I really look forward to your analysis utilizing world currencies and the SSPI (silver). These markets are interconnected and you describe it in layman's terms. I hope your subscriber list breaks out just like the metals. Looking forward to your next newsletter! Thanks so much!
Thanks, Bob! I'm happy everything is working out as I expected. We are in a very strong position heading into the year-end.
Yes, my subscriber list is absolutely breaking out! It's like a 99% correlation with the metals ;)
I launched it just one year ago and went from zero to 10,000+ total subscribers and became a Substack bestseller just two months in.
Of course, I was new to Substack, but not the financial markets or media and already had a big following after writing an online Forbes column for 11 years + being very active on social media:
https://x.com/TheBubbleBubble
Kudos to you!
Another stellar presentation.
God bless you and your family
Jim Stafford
Thanks, Jim! And may God bless you and your family as well.
GDay Jesse - thanks for this timely and (as usual) top quality report. I am interested in your thoughts about ETFs, which are “paper”, and I am aware of the warnings from wise advisors that ETF investors might not be able to redeem physical in a crunch.
During your presentation you mentioned (correct me if I don’t get this right) that during a Silver Squeeze event the price of physical may rocket whilst the price of paper assets might tank or fall to zero. So my question is:
If I held ETF shares (and assuming I am at the bottom of their priority list for physical allocation):
1. How will I know when to sell? and
2. Are they not legally obligated to cash their ETF shareholders out rather than let the shares sink to zero?
Thanks so much for your great work!
MARTY BREEN - AUSTRALIA
Thanks, Marty! Not all ETFs are the same.
Some explicitly hold physical gold and silver (like Sprott's PHYS and PSLV), while others don't hold any and just use derivative to track those metals' prices.
The former ones are far more sound/robust than the latter, though physical bullion in your own possession is always the least risky.
It's important to read the prospectuses of each ETF and see what the legal arrangement is.
And, yes, I said that the price of physical may rocket whilst the price of paper assets might tank or fall to zero. That applies more so to ETFs that don't actually hold physical bullion.
As far as when to sell precious metals, I have no interest in selling until gold is at least $15,000 and silver is $300+, so we have some time to think about that strategy.
But it's certainly possible that flimsier ETFs that don't hold physical PMs may "break" before then—especially as the PM bull market and squeeze heats up. There's no way to predict when something is going to break, unfortunately.
And, it's a case by case situation, but they may remunerate their ETF shareholders, but with devaluing fiat currency, which is no comfort in a strong inflationary or hyperinflationary scenario.
(This is not investment advice)
Dear Jesse - thank you so much for your thoughtful reply. This is a huge help. It is what I thought, but I wasn’t actually certain. These shares are held in a Superannuation Account that I manage on behalf of my wife. It’s probably like your 401K??? A long term bank deposit scheme to save for retirement with compulsory contributions from your employer of 14% of salary for all permanent employees. As a nation we have $4 Trillion in funds under management. The largest retirement benefit scheme in the world, introduced by the Labor Party in the 1980s. Individuals can “self manage” their account, but we cannot withdraw until we are 67yo. We cannot buy physical with these funds so the only exposure I can secure for my wife is via ETFs and we have done exceptionally well because I put large investments into our local JP Morgan managed Gold and Silver ETFs. I took profits on the Gold, but have held the Silver and now with the frenzy and speculation I need to know exactly how risky it is in the event of a squeeze.
I followed your reply with a detailed question session to Grok, and ultimately Grok confirmed “No, there is no guarantee of redeeming shares for physical” despite the fact that the local ASX:ETPMAG (JP Morgan) is backed by physical. The PDS gives JPM a lot of “outs”, which I strongly suspected but now know for certain. What it means for me now is I must stay constantly vigilant and watch both Spot and the ETF share price in the event of a squeeze. This is not the kind of account where I would want to be greedy or take big risks. We have done exceptionally well and I want to be certain to lock in the profits the moment I think it’s looking too crowded.
My physical AuAg stacks are held completely separate to that and they are 100% safe.
And I have both of my daughters as shareholders in a silver explorer recently turned developer ASX:SVL. They are both at uni, and I have invested enough in their names that I think we will be able to get them into property by the time SVL is in production. That’s the plan anyway, combined with using it as a tool for teaching them about PMs and investing in stocks.
As always, I am very grateful for your time and thoughts. Yes I understand you are not providing financial advice. I would not ever put you in that position. It is just highly valued educational discussion.
Enjoy the week ahead!!!
Regards
MARTY BREEN
I know that you’ve been a silver advocate for savings before the big 2025 rise on the spot silver price. I especially look forward to your silver analysis finding it to be both accurate and useful. Thanks for putting out so many reports! The world is moving quickly, and it’s ever so nice to be appraised of what is happening when it does happen. Not afterward. 😂.
Yes, and I actually have been a silver advocate going all the way back to 2008, but I starting seeing the signs of a bull market in early-2024.
You're welcome! I'm glad you appreciate my content. Much more ahead :)