Who needs an excuse?............................from Rico

The usual pundits were using Mario Draghi's speech yesterday as the 'reason' precious metals plunged. It was a convenient excuse, if you will, and to those who get their 'news' pre-chewed for them via the media complex it was easily digestible.

- Ignore the fact that a rate cut by the ECB is very precious metal positive.

Something 'happened' and it provided a convenient 'excuse' for the Cartel to conduct a paper 'drive by' hit in the COMEX metals markets. That's a good enough excuse.

- Ignore that COMEX paper claims on bullion are now something like 59:1...there are roughly 59 'owners' claiming the same ONE ounce of bullion in the COMEX warehouse.

And since the FTV mouth breathers are conditioned to report yesterday's news today, let's also consider that tomorrow is NFP day and a RAID is required 'de rigueur' by the paper Masters of the Universe.

- Bart Chilton must be relieved at his resignation from the CFTC, for the deux et machine of the Central Bankers and their boys is now becoming so blatant and obvious it's hard to whistle past the crime scene and pretend nothing is happening for the regulators, even with a mouth full of cronuts.

But as the House of Blankfein famously remarked on behalf of the Cartel: "Excuses? Excuses? When 'you're doing God's work' you don't need no stinking excuses."