Commentary on the economic , geopolitical and simply fascinating things going on. Served occasionally with a side of snark.
Monday, April 1, 2013
Financial crimes and looting 2013 style - and which one of the crimes will result in any jail time by the perps ? Which one may result in the perps or their agents paying restitution to the victims - I'll let you guess ......
( watching silver - i would agree that if 27.50 is broken , the next area of support is 26.50 - looking at 2011 and 2012 charts..... 2011 chart below showing low point in 2011....)
$27 HANDLE IN SILVER AS ALGOS TIP OFF MONDAY SELL-OFF
Friday’s strange algo patterns in the gold and silver charts apparently were tipping off the upcoming silver raid, as silver traded exactly down Monday morning to the $27.88 spike low seen on several silver feeds last Friday when global markets were closed.
The cartel appears intent on forcing a re-test of crucial support at $26 in silver- the question is at what cost in the physical market as a massive shortage of 90%, Silver Eagles, and Silver Maples grows? (and will undoubtedly intensify on any visits back towards $26)
Silver was smashed back to a $27 handle during Asian trading (prior to the LBMA open), with concerted selling beginning again this morning in NY:
Gold remains capped under $1600:
While the bottom still appears to be in for gold, the same can not be said yet for silver as its 4 week range trade between $28.40-$29.50 has been breached to the downside. $26-$26.50 will be absolutely crucial support for silver (and the cartel knows this, which is why they are attempting to force the issue), as if the quadruple bottom can be breached at $26, a brief wash-out trip down to $22 and back is possible (likely resulting in a complete vaporization of the physical bullion silver market, ala 2008).
An explosion took place at a cash machine in Cyprus as last-minute talks begin aimed at saving the country’s crippled economy.
The home-made bomb exploded at a Polemidia branch ATM machine near the city of Limassol at around 12.30 a.m. on Monday.
Two people who had their faces covered entered the bank and tried to set it on fire after the first explosion. Firefighters distinguished the fire before it spread through the branch.
The area has been blocked by the Cypriot police and no injuries have been reported.
Watch the video below, showing the aftermath of the explosion:
Friday’s strange algo patterns in the gold and silver charts apparently were tipping off the upcoming silver raid, as 
An explosion took place at a cash machine in Cyprus as last-minute talks begin aimed at saving the country’s crippled economy.
HOUSEHOLDS face losing up to $109 million from their family savings as the Federal government moves to seize cash from inactive bank accounts
Once again, the City of London proves to the financial terrorist’s best friend…