Unraveling the Gold & Silver “Global Crash”

Margin, Leverage, and the Anatomy of a Forced Selloff

A futures-plumbing explanation of why “safe havens” can gap down like meme stocks (and why it will happen again)

This is for premium readers, so we’re not doing the usual retail coping rituals (“manipulation,” “they printed too much,” “someone dumped paper gold”). Those stories are emotional pacifiers.…