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Comment by reducesuffering | Hacker News Reader

You're spreading r/wallstreetbets misinformation. They WERE hyping up and trying to squeeze silver at the same time, or preparing for right after GME squeeze, but when the GME outrage broke mainstream, r/wallstreetbets very quickly changed into conspiratorial fashion with complete denial:

"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.

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You're leaving out the aspect that this was all extremely time sensitive. Those silver posts were no longer relevant to the situation.

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.

Aren't all of those threads older than 5 days? I actually visited r/wsb during the last few days to watch the show. While I cannot be sure, that there were no threads about SLV, I am very sure, that to this day GME was the stock being hyped. There was not a sudden switch from GME to SLV like reported today.

Yes, and that's why you're misinformed because you just observed the last few days of their denials, but why are you spreading this if you didn't observe the whole past two weeks or did some research to back up your claims?

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.

The timing here is actually the most important detail. What I am saying is: It is not the case, that r/wsb decided today to drop GME and invest in SLV instead, like the reports suggest.

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.

From some links I saw over the weekend, the idea was to buy physical silver. Some coin places over the weekend were all out, however true or not that may be. The SLV stock may be someone else trying to fly under the guise of r/WSB's growing mass confusion to buy-low-and-HODL anything.

They're not just some hours it feels, they're some days to a week behind. I've been following this one for a week or two now, and silver was never the mainstay. It was there in small quantities, but generally drowned out by $GME, and even $BB and $AMC. Maybe sometime it would be fun to do some analysis of relative mentions of $SLV and other silver related things as compared to GME/BB/AMC.

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.

I’ve been on the sub as a lurker for about a year now. GME posts or otherwise the most commented topic was to buy GME. I actually never seen a DD on silver on wsb, maybe it did come but must’ve been removed by mods.

I would look at wsb daily for the past 2 weeks. On the Monday when I googled $GME to check the price all the google news snippets that came up were “Reddit dumps gme for silver”, etc. Then I go to wsb and it’s all gme talk. And everyone is saying silver is a lie.

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.

the forum normally has hundreds, maybe thousands, of posts each day that all are some stupid bet on an option or another. To act as if SLV was the next hot thing is incredibly stupid and misinformed. It's like if I went into the politics subreddit and found one thing that is anti-Biden (there is basically zero upvoted threads anti-Biden) and everyone reported reddit hates Biden.

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