Yesterday. Today. WTF. Watch Out Below............................from Rico

Yesterday's COMEX expiry was a very 'quiet' one.

- I noted my calendar to 'expect' fun and games from the Cartel for the next few days, with the intent to discourage anyone from actually taking physical delivery of the precious metals (which are in scarce supply). From their perspective it's far better if holders of contracts just roll them over to forward months instead of demanding settlement this month.

Today.

These folks never seem to disappoint. Dumping paper to suppress pricing as expected. The thumbs are heavily on the scales today.

- Look at the charts and consider two things: (a) defending the dying FRN Dollar, and (b) the growing pile of dead bankers who could 'coincidentallly' have shed light on the fraudulent and criminal shenanigans of their banks (JPM is foremost, but not alone).

WTF.

It wasn't to 'help' Main Street, and this is only the prelude to the big one (2008 having been a mere temblor).

- The Central Banks were NEVER trying to grow economies or reduce unemployment. The have only been propping-up the derivative trades of their TBTF financial institutions.

~80% of the $600 trillion derivatives market is on the verge of collapsing. The $11 trillion created since 2008 hasn't done a thing except misprice Sovereign Bonds (eg. US Treasuries, Japanese Government Bonds, German Bunds) which are THE collateral backstopping the entire derivative system.

Watch Out Below.

No one can really say 'when' the bottom falls out, not even the Mensa brain trust collectively called Central and TBTF bankers, but I'd look for markers like the Dow 5.000 going forward, in addition to:

- Margin calls and demands for better collateral

- Yield of US 10-years at 1% or lower

- Markets being closed

- Baks being 'frozen' (Cyprus)