Loading ...No what happened is like with the Hunt Brothers, the individual, who tried to upset the market by taking some 40k contracts in the first delivery day by surprise was pushed into paper delivery.
But for sure, we are getting close to such an event.
Just yesterday in the silver market, short sellers sold a record amount within one hour (at noon) to attempt to trigger a waterfall event (just like 2013) hoping to catch traders when they returned from lunch.
As you can see that did not work either.
So, it’s just a waiting game until the geniuses in charge screw up at some point and the exchange goes force majeure – and then in fact defaults.
It’s just a matter of time.
Likely sooner than later.
Cheers