With the Dollar looking more and more like a leper by the hour, the CRIMEX charade to reign in the Precious Metals is in full throttle. The goons were unable to bring Silver down to it's over night low of $44.62, but a gallant effort has been mustered so far this morning at 10AM and Noon est. The goons were very successful in whacking Gold down to $1492 at 10AM for the London Gold Fix, taking out the overnight low of $1494.
How much yesterdays margin increase has affected the markets is uncertain, but it definitely played into the crooked bankers hands. Options on Gold and Silver Futures expire today. Price take downs are standard operating procedure at these times in these markets. Since tomorrow is the last day for options all holders that stand will receive a futures contract in silver. In gold they also receive a futures contract but because May is not a delivery month, the investors that stand always seek physical metal. Traders can either sell their contract by Friday, OR STAND FOR DELIVERY. The goons are trying to flush out as many longs as they can to lessen the delivery demands for May Silver...therefore the charade of falling prices in the face of a crumbling US Dollar.
We must remain wary though with tomorrow's FOMC announcement and Bumbling Ben's "live chat" that follows. With this much pressure on the US Dollar here and now, and the Precious Metals looking to explode, been may have to make his decision immediately to either save the Dollar and the bond markets, or toss them both to the wind and charge full steam ahead with his financial assets appreciation plan. It's called "a rock and a hard place"...and Bumbling Ben has himself pinned here. Save the Dollar, and the stock and commodity marks suffer a blow. Cast off the Dollar and the bond market collapses along with the to big to fail banks. Either way, you, me, and the next two generations are screwed.
Silver and Gold...the TRUTH shall set you free...