December 17, 2025 | Is An “Iceberg Order” Supporting Silver?

Here’s another apparently AI-created (performed, assisted, whatever) video that offers an interesting answer to a big question. I have no idea whether any of this is true, but it’s definitely compelling.

Let’s start with an excerpt:

There’s a saying in the intelligence community: the loudest threats are rarely the most dangerous. It is the quiet ones you need to fear. In financial markets, we are conditioned to look for noise. We look for the massive green candle that shoots to the moon. We look for the violent red crash that signals panic. We look for volatility. But right now, if you look at the silver chart in the low 60s range, you see something strange. You see nothing. The price is stuck. It churns. It dips a few cents and then it bounces back. It rises a few cents and then it stops.

To the average retail trader, this looks like boredom. It looks like the rally has stalled. It looks like the market is confused. But if you look deeper, if you peel back the layer of price and look at the volume, you see a completely different story. You see a war zone. Over the last few trading sessions, billions of dollars of paper have been thrown at this market. Banks have shorted. Algorithms have dumped. And yet, the price refuses to break. Why? Because someone is standing there.

Someone massive, someone with pockets deeper than the bullion banks, someone who has placed a limit buy order so large that it is absorbing the entire global supply of silver without flinching. We are witnessing the arrival of a mega whale. This isn’t a Reddit squeeze. This isn’t a hedge fund trying to make a quick buck. This is a strategic buyer accumulating a position that will change the balance of power forever.

In this four-part investigation, we are going to hunt this whale. We are going to use forensic market data to prove that a massive transfer of wealth is happening. We are going to connect the dots between the AI energy crisis and the sudden disappearance of physical silver. And we are going to show you why a flat price with high volume is the single most bullish signal on planet Earth. The market isn’t boring. It is loading. And you need to be on the same side as the whale.

To understand what is happening in the $60 range, you have to understand how smart money buys. If you or I want to buy silver, we log into our brokerage account and hit market buy. The price ticks up a little bit. We get our shares. But if you want to buy $650 million worth of silver, which is roughly 10 million ounces, you cannot just hit market buy. If you did, the price would spike to $100 instantly. You would slipage yourself to death. You would ruin your own entry price. So, what do you do? You use an iceberg order. An iceberg order is a special algorithmic trade used by institutions. It places a small visible order on the books, say five contracts, but hidden underneath in the dark pool is a massive order for 50,000 contracts. Every time a seller hits the five contracts, the algorithm instantly reloads them. Sell five, reload five, sell five, reload five, the price doesn’t move. It stays pinned at your limit price. But the volume meter spins like a turbine. The sellers think there is infinite demand at that level. Eventually, the sellers run out of ammo. And once the sellers are exhausted, the whale removes the wall and the price gaps up violently.

As I said, this is an unsubstantiated but plausible-sounding explanation for silver’s spectacular recent run. Here’s hoping the rest of the scenario plays out in 2026.

John Rubino December 17th, 2025

Posted In: John Rubino Substack

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