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SILVER: Strong Hands Are Buying The Dip | Andy Schectman

Liberty and Finance Feb 10, 2026

Summary

Margin hikes in silver flush leveraged speculators but don't end bull markets — physical holders absorb metal at discounts, putting it into stronger institutional hands.

March silver contracts carry 400M oz of open interest against 103.5M oz registered at COMEX, signaling major delivery pressure if even small shares stand.

The largest one-day silver drop ever was followed by 33M oz flowing into SLV — institutional buyers scooping discounted physical from forced sellers.

BRICS nations are building gold-backed payment systems to settle trade imbalances outside the dollar, chipping away at US Treasury reserve demand.

Precious metals dealers, depositories, and IRA custodians are overwhelmed by volume, so investors should pre-position holdings before demand surges cause multi-week delays.

Andy Schectman's takeaways

  • Top takeaway The guest argues margin hikes do not end bull markets in metals — they mark the point where the next leg higher becomes inevitable, flushing weak leveraged speculators and consolidating metal into strong institutional hands standing for delivery.
  • The biggest one-day drop in silver was followed the next day by SLV's largest single-day metal inflow in years (~36.3M new shares, roughly 33M ounces), which the guest reads as institutions using the forced liquidation to source physical at a discount.
  • The March silver contract carries ~80,500 open contracts (about 402M oz of paper) against COMEX registered of just 103.5M oz; even 10–20% standing for delivery would force backwardation or pull metal out of the eligible category.
  • The guest says the global metals market is fracturing as New York, London and Shanghai diverge, and that BRICS nations are settling trade imbalances in gold via multi-jurisdictional vaults (Moscow, Shanghai, Hong Kong, Saudi Arabia), eroding dollar/Treasury reserve status.
  • Miles Franklin did roughly $900M in sales in 2025 and ~$300M in January 2026; the guest urges retail investors to preposition physical during calm windows because dealers, depositories, IRA custodians and shipping cannot scale instantly when dislocations hit.

David Jensen's takeaways

  • Top takeaway The guest cites David Jensen's framing of the London silver market as roughly 2 billion ounces of open interest contracts standing against only about 120 million ounces of physical.