Another interesting take on what is happening with silver -- availability part II 0

[Zebo]

London Bullion Market Association (LBMA) published their Silver Investment 2021report, which comments on the recent activity in the investment silver market. Such a report is intriguing in itself since it is the first time the LBMA have published such a paper specifically looking at investment silver, with the institution examining the demand for silver ETPs, silver bullion coins and bars and silver futures. Most notable is the detailed mention of the “much-publicised social media campaigns” and a “social media buying frenzy”, which is a tacit acknowledgement that social media activity has been a significant factor in driving demand for silver products. In summary, the report concluded that the combined demand for silver bars, coins, ETPs and futures positioning rose by about a fifth last year, with growth carrying over into the first three months of 2021.

If anyone is interested in reading it (15 Pages), I'll send it to you. 

I have no ties with LBMA nor any other such organization and do not profit from this in anyway. I just found the report interesting in the current environment. It is a PDF document. 

The other interesting news from England is that they want to keep pace with China in developing a digital currency. Britcoin - not to be confused with Bitcoin (see below).  

The British government has followed China's lead by setting up a taskforce to examine the possibility of the UK introducing a central bank digital currency (CBDC), with the Chancellor, Rishi Sunak, nicknaming the potential venture as 'Britcoin'. The Bank of England has stressed that such a CBDC would not replace cash or bank deposits, but would be for the UK to keep up with other countries already testing out CBDCs. Simon Taylor, co-founder of the consultancy firm 11:FS, has said Britain can learn from China's lead, stating that "We need to talk less, and learn through doing... Having a state-backed currency allows for the control of inflation through interest rates and management of the economy". 

[Alex in PA.]

Thanks for the reference Zebo.  

[Fenntucky Mike]

45 minutes ago, Zebo said:

The British government has followed China's lead by setting up a taskforce to examine the possibility of the UK introducing a central bank digital currency (CBDC), with the Chancellor, Rishi Sunak, nicknaming the potential venture as 'Britcoin'. The Bank of England has stressed that such a CBDC would not replace cash or bank deposits, but would be for the UK to keep up with other countries already testing out CBDCs. Simon Taylor, co-founder of the consultancy firm 11:FS, has said Britain can learn from China's lead, stating that "We need to talk less, and learn through doing... Having a state-backed currency allows for the control of inflation through interest rates and management of the economy". 

CBs have been experimenting with DC since at least 2016, with pilot programs issuing DCs in 2018. Seems like they are afraid of loosing control/a piece of the pie. I'm not sure if the demand for PMs will continue but will CBDCs increase demand for physical holdings? 

[GoldFinger1969]

The "social media buying frenzy" lasted 1-2 days.   Silver rose like on a trampoline....and came back to Earth.