"Fraus est celare fraudem. It is a fraud to conceal a fraud...And the regulators may wish to consider that when they continually turn a blind eye to glaring instances of market manipulation they foster a climate of lawlessness that opens the door for widespread fraud amongst normally law abiding market participants. It becomes a competition in larceny and a moveable feast of fraud. “Poverty wants, but greed wants everything, and more.” Customers run for safety, from one place to another, not sure what or whom they can trust."
Jesse, MF Global: The Issue Is Fraud and the Cover Up
“Our government teaches the whole people by its example. If the government becomes the lawbreaker, it breeds contempt for law; it invites every man to become a law unto himself; it invites anarchy.”
Louis D. Brandeis
As it turns out the Cyprus 'gold sales' touted yesterday were merely an idea floated by a politician, that had never been discussed at all with the central bank of Cyprus that controls ownership of the gold.
There are spot shortages of physical bullion on the retail level with silver of various types in particular commanding decent premiums over spot.
EMU Seizes Cyprus' Gold Reserves
Let's see how this develops.