Meet The Man Who Bought $1 Billion In Physical Silver Before The Rally The precious metals complex resumed its upward trajectory overnight. Shortly after the US equity cash open, silver surged above $100 per ounce for the first time on record, while gold approached the $5,000 per ounce level. As Rick Privorotsky, head of Delta One at Goldman Sachs, noted to clients earlier, flows suggest some spec...
Meet The Man Who Bought $1 Billion In Physical Silver Before The Rally The precious metals complex resumed its upward trajectory overnight. Shortly after the US equity cash open, silver surged above $100 per ounce for the first time on record, while gold approached the $5,000 per ounce level. As Rick Privorotsky, head of Delta One at Goldman Sachs, noted to clients earlier, flows suggest some speculative participation, but the dominant driver remains structural: " There is clearly hot money involved, but first and foremost gold is a central bank trade… a slow erosion of the dollar's exorbitant privilege rather than a sudden loss of confidence ..." What first came to mind as silver broke above the $100 level was Warren Buffett's late-1990s bet on the precious metal. Berkshire Hathaway accumulated 129.7 million ounces of physical silver, or about 4,000 metric tons, ahead of the Dot Com bubble crash. The position was disposed of around 2006, generating a substantial profit for Berkshire. Fast forward to October 2024, and we rolled out the ZeroHedge silver/gold coins and bars . At the time, silver was in the low $30s, while gold hovered around $2,600. But on an even grander scale, several months later in early 2025 , David Bateman, the founder of Entrata , revealed on X that he had purchased "close to a billion dollars in precious metals over the past six months." To be exact, Bateman told his followers on X that he bought "1.5% of the annual global silver supply (12.69 million ounces)." His reasons for the massive physical trade were as follows: The global monetary system is about to collapse (The Great Reset, or Basel Endgame). The biggest credit bubble in history will soon pop ($300T). There is no way the US can refinance its $28T in maturing treasuries in the next 4 years without an obscene amount of printing. Trump tariffs are hastening the collapse, and it's by design. Gold and silver are the only meaningful life raft. Physical possession is everything. The whole ...
Russian strikes killed one person and injured at least 15 others in Ukraine’s capital and the northeastern city of Kharkiv overnight, authorities said early on Saturday. The country was under an air raid alert with military authorities in Kyiv warning of drones and ballistic missiles. “Kyiv is under a massive enemy attack. Do not leave shelters!” Mayor Vitali Klitschko posted on Telegram, adding t...
Russian strikes killed one person and injured at least 15 others in Ukraine’s capital and the northeastern city of Kharkiv overnight, authorities said early on Saturday. The country was under an air raid alert with military authorities in Kyiv warning of drones and ballistic missiles. “Kyiv is under a massive enemy attack. Do not leave shelters!” Mayor Vitali Klitschko posted on Telegram, adding that several non-residential buildings had been hit. “Currently, one person is known to have died and...
Grocery is a huge business. I learned that early on. My first job as a bagger at the local grocery store eventually led to my first full-time job helping manage a store for a major supermarket chain. I saw firsthand in the late 1980s and early 1990s how Walmart sent shockwaves through the industry ...
Grocery is a huge business. I learned that early on. My first job as a bagger at the local grocery store eventually led to my first full-time job helping manage a store for a major supermarket chain. I saw firsthand in the late 1980s and early 1990s how Walmart sent shockwaves through the industry ...
The plans of Alibaba Group Holding and Baidu to list their semiconductor design units could intensify competition with other domestic artificial intelligence chip developers to unseat Nvidia as the country’s top supplier of high-performance AI processors, according to analysts. The two Chinese internet peers’ initiatives reflected the strong investor appetite for AI chip firms and growing demand f...
The plans of Alibaba Group Holding and Baidu to list their semiconductor design units could intensify competition with other domestic artificial intelligence chip developers to unseat Nvidia as the country’s top supplier of high-performance AI processors, according to analysts. The two Chinese internet peers’ initiatives reflected the strong investor appetite for AI chip firms and growing demand for alternative computing resources in the domestic AI sector, as Beijing pushed for greater...
This article was first published on January 25, 2016 By Naomi Ng and Ernest Kao The city’s coldest weather in nearly six decades was expected to continue into today, prompting a suspension of primary schools and pleas from officials urging the public to avoid hiking the highest local peaks, where sub-zero temperatures left roads frozen and dangerous. Minimum temperatures at the Observatory in Tsim...
This article was first published on January 25, 2016 By Naomi Ng and Ernest Kao The city’s coldest weather in nearly six decades was expected to continue into today, prompting a suspension of primary schools and pleas from officials urging the public to avoid hiking the highest local peaks, where sub-zero temperatures left roads frozen and dangerous. Minimum temperatures at the Observatory in Tsim Sha Tsui dropped to just 3.1 degrees Celsius yesterday, the lowest reading since 1957 and the...