A Quick Recap

• Cyprus: Warn the wealthy insiders, politicians, and Russians, and then steal from the remaining depositors. This will hurt confidence in banks, the EU, and the IMF.

• Bail-in Plans: Announce that the bail-in plan (steal from depositors) is THE template to fund bank failures in the EU, Canada, USA, and New Zealand. This further reduces confidence in banks and politicians. Read A Tipping Point In The Financial System – Part 2.

• Gold bars leaving the Comex vault: According to David Chapman, gold in Comex vaults is down about 25% since 2010. Read the whole article for some interesting insights.

• Japanese money printing announcement on April 4, 2013. Yes, printing money (“monetary heroin”) has not worked in the past thousand years, but printing more aggressively might be successful (like treating heroin addiction with more heroin) this time. And, yes, it will end badly.

• Kennecott copper mine landslide, although anticipated, occurred on April 10. This mine (per Bill Holter) annually produces 400,000 ounces of gold and 3,000,000 ounces of silver and is the largest copper mine on earth. It has been shut down, and that supply is temporarily not available. Gold, silver, and copper subsequently declined.

• White House and banker meeting: Over a dozen important bankers met with President Obama (according to the Wall Street Journal) on Thursday April 11. Strangely, gold, silver, crude, and copper crashed thereafter.

• Gold: The paper gold market was crushed by a 400 ton paper gold sell order – naked shorts – and driven down into a five standard deviation price move. Such a move should be very rare. Assuming statistically normal price distributions (which I doubt for manipulated markets), this move should occur only once in several thousand years. Read Score: Banksters Two, Gold & Silver Zero.

Continue reading →