Brutal? Nawww...................from Rico

Think last Friday or today was BRUTAL?

- Nawwww...you ain't seen nuthin' yet! The serious PAIN is yet to come.

The orchestrated precious metals take-down was a Kindergarten patty-cake game compared to what is coming:

- the confiscation (wealth tax) of bank deposits,

- the mandatory conversion of IRA's into worthless IOU's (sovereign bonds),

- and pension forfeiture (austerity)

.....all mean THEFT by the irresponsible and reckless from the responsible and prudent. [For Barry supporters and other "progressives" read: you are the property of the State, along with all you have.]

I was discussing today's shenanigans with a friend and said spot paper Gold at $1325 wouldn't surprise me (COMEX closed at $1361, but it just hit $1347 in the access market). [Jim Rogers is saying it could go as low as $1200.] I did not want to further spoil his day, so did not mention that if spot paper Silver drops through $23, Martin Armstrong is probably right and it could hit $17. (COMEX Silver closed at $23 ad is $22 in the access market.)

The TBTF and TBTJ banksters are running a purely paper game, demonstrating what can be done with unlimited naked paper shorts when backed (and sanctioned) by a Central Bank with unlimited money printing ability.

Never mind that the Kennecott mine is suddenly off-line, ignore the plunging physical inventories in the COMEX warehouse, and pay absolutely NO attention to the 'all-time high' in demand for physical bullion (all US wholesale Silver suppliers are now sold-out of every available physical ounce). The "message" is clear:

Precious Metals are scary and BAD. Sell them to be safe. NOW! You want to buy 30-year US Treasurys and maybe some nice JGB's!

Meanwhile, Goldman Sachs (aka The Vampire Squid) is advising its clients (aka Muppets) to 'short' Gold (sell) while it is busily scooping-up every ounce of bullion it can put its tentacles upon for itself.