ARMAGOLDEN

Rumblings of huge run ups in the metals are sounding after the bombshells dropped on CFTC hearings. Rumors have Asian (read China) and Russian traders ready to enact massive raids against the LBMA (London Bullion Market Association) and NIMEX/ COMEX with revelations that these bullion markets "holdings" are leveraged 100:1, meaning that these pirates have just 1oz. of the metals for every 100 oz (on paper) they claim they, far outdistancing even the insane leverage exposure of the the TBTF banksters on Wall Street. Their massive short positions are about to be steamrolled into oblivion by the Sino-Sovietski squeeze play demanding physical delivery of gold and silver which the bullion bullies long ago leased out and consequently have 0. If so then this would be a "short squeeze" of apocolayptic proportions, with the potential not only of bringing down the major investment houses and banks but also the U.S.and UK governments as well. Sound farfetched? Well it does to me too. But this is the kind of buzz emanating from the gold warriors who made an unexpected shambles of the CFTC hearings on gold and silver manipulation. According to them, at the very least, this is going to provide the rocket fuel that will ignite an explosion in the metals markets in both Au and Ag, especially the latter. The extent of this fraud in a market that generates $5.4 Trillion net basis on the LMBA yearly and which is 1.5 times the size of the U.S. economy, not to speak of the various derivative contracts piggy backed on top of it all, is such that it has become a serious national security issue when compounded with and by the other ongoing catastrophic implications of the crack up of U.S./UK bond, housing, and derivatives markets. If the Asian/Russo play comes down, there will be a frantic attempt to cover shorts by buying back the gold the bullion bullies have scattered to the four winds to fund their paper palace house of cards with the inevitable nuking of the bullion market. This is nothing less than the greatest fraud in economic history the unravelling of which might well blow up not only the LBMA/Comex exchanges but might signal the red alert presaging the final collapse of the Anglo-European sovereigns already teetering on the brink.(April Fools Gold! courtesy of GATA)

A more moderate, sober, limited and realistic assessment of the prospects for the precious metals might be realized after the now infamous non-farm payroll report scheduled to be issued this Friday April 2nd. This is also Good Friday and the markets will be closed for the three day holiday weekend.(LBMA is also closed on Monday) Thus we might have to wait until Tuesday for the results. The first part of the preprogrammed smackdown is already in place though with a sharp run-up in the precious metals which usually precedes the sell off by JPMChase and HSBC et al. on the release of the government report. This is effected to exert maximum damage not only to the gold and silver markets but also to effectively front run and inflict just punishment on the clueless options traders. We must thank Mr. Andrew McGuire for pointing out the schematic timetable on this fraudulent activity. Now you too can trade like the big boys for maximum profits at 0 risk. If you can't beat 'em join 'em. Good luck and Happy Easter!