Gold Daily and Silver Weekly Charts - Shanghai Reduces Silver Margins

"This isn't just a matter of a few seedy guys stealing a few bucks. This is America: Corporate stealing is practically the national pastime, and Goldman Sachs is far from the only company to get away with doing it. But the prominence of this bank and the high-profile nature of its confrontation with a powerful Senate committee makes this a political story as well.

If the Justice Department fails to give the American people a chance to judge this case — if Goldman skates without so much as a trial — it will confirm once and for all the embarrassing truth: that the law in America is subjective, and crime is defined not by what you did, but by who you are." Matt Taibbi, The People v. Goldman Sachs

The weekly range in silver was remarkable, but notice that it ended the week fairly close to where it left off last week.

The banks are desperate, and facing a large amount of potential demand in the June contracts. They do not seem to be able to find supply, so they are struggling to dampen demand and obtain corollary trading profits in the miners and related sectors.

A very unsettled set of markets indeed, with the BRICs buying heavily, and the Anglo-American financial cartel fighting it every step of the way.

Shanghai Metals Exchange Reduces Silver Margins

This is going to be interesting.

SP 500 and NDX Futures Daily Charts

Major US equities are very obviously coiling for a move. Which direction they will break cannot be determined yet. But the longer they coil, the stronger the subsequent move will be.

No doubt it has to do with the Fed's plans for liquidity.

Blogger Is Now Back Online

The Google 'Blogger' facility has been down since early yesterday afternoon New York time. From what I could tell they had made a system change earlier in the week, and it led to a system crash, that took some time and archive retrievals in order to restore.

These things do happen. At one time I managed portions of a major communications network that stretched across the US and to over fifty countries. Major software upgrades were always the sort of thing that spoke to the quality of one's processes and system testing. And even then, things do happen.

Regular updates tonight.

Net Asset Value of Certain Precious Metal Trusts and Funds

An extra 'gut check' for the over eager dip buyer perhaps, and a sign of things to come as the battle intensifies over the June futures and deliveries.

I let my hedges go when the SP futures dropped to support around 1334. I could put some back on but not yet. I was buying a few things that looked to be getting down to reasonable valuations, but the word is 'lightly' and with 'agility.'