This video explains exactly what the hedge funds are doing: https://www.youtube.com/watch?v=gMShFx5rThI
Once the media reports broke saying "Redditors now buying silver!", there was no one on WSB actively discussing buying silver. The more likely story is that the hedge funds researched recent WSB discussion, saw some talk about silver, loaded up on silver futures options, "leaked" a hot new WSB story to their media shills(maybe even providing the same references as you did), and the media ran with it so they could report a "scoop". Loading up on the futures options probably drove the price up, giving more credibility to the fake news story. Then they probably unloaded their long positions and shorted silver since the price was temporarily propped up by the news-watching suckers who ran out and bought it. If you look at the $SLV chart from last week, the price movements would support my hypothesis. They probably did this because they needed short term cash quickly, and wanted to distract from $GME.
Jan 21st, 12 days ago GME started really being pumped. Then 6 days ago they just started simultaneously piling onto silver pumping threads, along with GME. When the GME outrage started due to the buying halts on Jan. 28th, there was a huge flood of activity, and people piled back entirely onto GME that day, but at the same time reporters were combing through the previous threads, that were pumping silver, and started writing articles assuming silver was the next pump. They weren't making anything up, they're just some hours behind the top threads of WSB because of how chaotic the activity is.
I am actually relieved, that there were indeed stories about it and it was not totally made up. I still find the timing worth noticing.
Selective reporting is one of the more sneaky forms of bias after all. No need to blatantly lie when you can paint a different truth with parts of the whole.
On an aside, popular is an interesting way to describe those posts. 14k peak upvotes with many of the ones cited at 4 digit upvote totals. That's not what I'd call popular, especially considering the rapid growth of the sub.
After reading the news articles I started to think that they are just jumping between tends now but I knew it didn’t sound like wsb. But if you were an average non-wsb reader it would definitely dissuade you from buying right at the time when it hit is maximum mainstream news spread.
So as a wsb follower I never even saw a silver article on Reddit. It was definitely manufactured by the media to divert attention.
I don’t think it’s so unusual either in that the upper class elite who own and manage the media networks need to put their money somewhere to get the best returns. And the chance that themselves or friends of theirs were looking to lose huge amounts from the squeeze at one of the hedge funds, is pretty good incentive to say “can we run a story to take pressure of gme”.
A coincidence that a war on powerful connected hedge funds ends up with the media clearly planting stories and broker platforms preventing trading. If you thought: oh I am an average joe I don’t want to miss out on this and you had robinhood you could only buy one share at 300. Instead of say dropping 10k. Is this sensible? That’s irrelevant though.
So yes it seems like a conspiracy...but there is good evidence it was not.
But we should think about other explanations:
- media wanted clicks and they knew FOMO of missing out on the next thing would be a big hit. But how they found the thread for the original story is a mystery. They saw a small story was getting huge clicks so gave it more visibility.
Would be interesting to trace back at what time the first silver article was written and by who and which outlet.
"we never hyped silver, keep buying GME, it's a distraction, FAKE NEWS!"
Here's four highly popular r/wallstreetbets threads that were pumping silver at the time.[0][1][2]
They even deleted the evidence on [3].
[0] https://www.reddit.com/r/wallstreetbets/comments/l6fgbn/the_...
[1] https://www.reddit.com/r/wallstreetbets/comments/l6novm/the_...
[2] https://www.reddit.com/r/wallstreetbets/comments/l76885/the_...
[3] https://www.reddit.com/r/wallstreetbets/comments/l68ill/the_...
The world is running into serious problems with rampant misinformation on social media echo chambers / filter bubbles.