Peak Prosperity Lanci: “The Silver Short Squeeze Hasn’t Even Begun”
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Dec 11, 2025 Vince Lanci, a precious-metals analyst and founder of Echo Bay Partners, dives deep into the silver market's dynamics. He discusses the fragility of London’s market and the implications of recent rule changes at the LME. Lanci outlines the origins of the current silver short and the risks that the bullion banks face. He also addresses the practicality of silver confiscation and proposes using tax incentives to stimulate metal supply. Additionally, he evaluates China's role in the market and hints at a potential V-shaped breakout for silver.
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London Market's Trust Is Broken
- London’s precious-metals plumbing is structurally damaged even if inventories appear replenished.
- Vince Lanci warns buyers may stop trusting LBMA counterparties after delivery delays and reliability failures.
Rules Bend When Big Players Face Crisis
- Exchanges and powerful players change rules when their survival is threatened, eroding legal certainty.
- LME's nickel intervention and canceled trades show precedent for rule changes that favor large players.
How A Massive Silver Short Evolved
- Structural shorts in silver developed from using futures to hedge and repeatedly rolling positions.
- Lanci compares bullion banks' behavior to a Martingale gambling strategy that can grow dangerously large over time.