Gold or silver need to take out the intermediate downtrends in order to set up the next major move. This might not occur until the debt cliff plays out.
They can only keep the price down so long.
Germany is said to be announcing the repatriation of much of their gold tomorrow. Let's see if that actually happens.
The Treasury is apparently tapping its employee pension funds to avoid a problem with its debts, in the manner of modern US corporations and past debt limit crises. Thank God there is no commingling of customer (citizen) accounts to raid as was done at MF Global. Or at least not yet. When you own the currency and the printing press such direct and brutish methods are unnecessary.
I suspect that the currency wars will be rocking and rolling by this summer.
