Making History
We already made history this week as Silver started early Monday morning with a 25 handle. Don’t know if it will reach the high 25’s today, but if it does, it will probably be the last time it EVER trades with a 25 handle. This week has already marked the last week below 26. This take down of everything yesterday,was to give the bullion banks who have been short gold and especially silver, one last chance to cover before the total upside explosion in the metals. I was pretty sure that once it achieved it’s objective it would reverse. Yellen already walked back her comments. It was orchestrated to give the banks another opportunity to save their rear ends. Whether some or all of them did so is yet to be seen. If they don’t take their loses and survive they will be bankrupt and become like Bear Stearns and numerous others in the dust bins of history.
The US taxpayer will end up bailing them all out.
The middle class is going to be toasted.