X user flags US banks shorting 4.4 bn ounces of silver, 5.5x more than global production

An X user flagged that Bank of America and Citibank have shorted 4.4 billion ounces of silver, 5.5x more than global annual silver production of 800 million ounces. They noted the banks would have to buy every ounce of silver mined over next 5.5 years to cover their short positions. "They aren't shorting a market...[but] a phantom supply," they added.