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Posting Silver Squeeze on Reddit may be a “false flag” operation meant to distract GameStop traders, said Lobo Tiggre of the Independent Speculator.
“My feeling is that, based on the up vote and the down vote on Reddit, I don’t think that’s a big idea from Wall Street Bets. I think at most there was a sub-community on Wall Street Bets that was saying okay, there are shorts in the money space, let’s jump on that too, ”Tiggre said.
Several articles have emerged on Reddit that deny Wall Street Bets involvement in the money-squeezing trades, or suggest this is all a “trap,” and these posts have been overwhelmingly voted on.
According to some Reddit users, the money buying posts were also deleted by the Wall Street betting administrators.
Regardless of the discussion on Reddit, money fundamentals remain strong, Tiggre said.
“The fundamentals are still very strong for monetary metals this year and beyond,” he said. “The folks at GameStop might see the money as a distraction. I potentially see the GameStop thing as a distraction. I’m a silver bull anyway, and if this Reddit thing turns out to be just a fleeting, temporary tailwind, there’s nothing wrong with that.
Warning: The opinions expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is for informational purposes only. This is not a solicitation to effect an exchange of commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article accept no responsibility for any loss and / or damage resulting from the use of this publication.
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