Editor-in-chief: Nina Garcia Photographer: Inez & Vinoodh Stylist: Jahleel Weaver Writer: Roxane Gay Hair: Jawara at Art Partner using Fenty Hair Makeup: Hector Espinal using Fenty Beauty & Fenty Skin Manicure: Kim Truong at A-Frame Agency Produced by GS World Media and VLM Productions

Ed Steer: Short Position in $SLV Drops By 23% This was for positions held at the close of business on Friday, July 31. I was happy to see that the short position in SLV took a big drop...from 31.13 million share/troy ounces, down to 23.95 million shares/troy ounces...a decline of 23.06%. This represents 4.43% of total SLV shares outstanding. This is the lowest short position in SLV since December 2024...but still outrageous, as there isn't a single solitary troy ounce of silver backing any of those remaining shares sold short...which is hugely manipulative to its price. One can only imagine what the silver price might be if those short had to buy the physical silver to back those shares. The short position in $GLD also fell...from 13.50 million shares, down to 12.13 million shares sold short...a decline of 10.12%. Coincidentally, this also represents 4.43% of the the total GLD shares outstanding but, unlike silver, is of little concern.