{"id":19275,"date":"2013-03-27T16:00:47","date_gmt":"2013-03-27T20:00:47","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=19275"},"modified":"2013-03-27T19:22:47","modified_gmt":"2013-03-27T23:22:47","slug":"the-gold-silver-speculator-3","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2013\/03\/the-gold-silver-speculator-3\/","title":{"rendered":"The Gold &#038; Silver Speculator"},"content":{"rendered":"<p>Catastrophe in Cyprus: Desperate times call for desperate measures. Euro Troika (IMF\/EU\/ECB) aims bazooka squarely at depositors &amp; fires: Outright theft and confiscation of private property...disaster ahead?<\/p>\n<p>Despite the strange, absurd sense of normalcy that has somehow prevailed this week, the world is witnessing a horrifying, slow-motion bank robbery in progress. With hostages\u2026lots of \u2018em. Or maybe you could say it\u2019s a financial train wreck? However you describe it, it is absolutely revolting in every sense of the word.<\/p>\n<p>By now, you are probably well aware of the inexplicable, sordid details of this state-sponsored attack on the rule of law and confiscation of private property, so I won\u2019t go into great detail about it, but I must say that I am still shaking my head in shock (and disgust) at what the unelected, non-accountable bureaucrats have unleashed upon the world.<!--more--><\/p>\n<p>Many optimists, like ostriches, have their heads buried deep in the sand (or up their\u2026) somehow of the belief that this event is a non-issue and so minor in scope that it ultimately poses no danger to the Euro currency, let alone the Great Economic (Stock Market) Recovery here in the United States.<\/p>\n<p>I see this ridiculous response simply as stubborn denial and ignorance: an unwillingness to fully grasp what a radical path has now been taken - one with disaster written all over it for the Euro currency and for the prospects of economic recoveries around the world.<\/p>\n<p>One of the more colorful commentaries I read was that of a European bank CEO, who couldn\u2019t believe what the Troika had done, calling it \u201ca paradigm shift\u2026fundamental breach of property rights\u2026full-blown Socialism.\u201d (Lars Seier Christensen, CEO Saxo Bank).<\/p>\n<p>We\u2019ve crossed the Rubicon\u2026Akin to the Assassination of Austrian Archduke Francis Ferdinand in 1914. These are not statements that can easily be dismissed and may prove to be highly accurate in the long run.<\/p>\n<p>Strangely, most markets have largely shrugged this off (for the time being) - Gold &amp; Silver certainly didn\u2019t scream higher on the chaos as many would have expected. There was no furious funneling of safe-haven asset flows out of risk markets into Precious Metals - at least not yet\u2026<\/p>\n<p>I think this is largely because governments and media have the unique ability to create a false narrative of perception, an illusion of calm and serenity so long as the streets in Cyprus and ATM lines remain relatively under control. But that can change in a flash - the very instant once photos and videos of angry rioters start to flood the airwaves, internet, newspapers, and mobile devices across the globe.<\/p>\n<p>The Heavy Metals, Hard Currencies did catch a brief bid as short-covering fueled a break north of $1600 in Gold and $29 in Silver as detailed reports hit the wires earlier in the week, but I think they\u2019re just marking time ahead of the real fireworks to come.<\/p>\n<p>The reality is that nobody knows how things will go from here. We\u2019ve only just begun: Pandora\u2019s Box has been flung wide open and we\u2019ll have to face the consequences ahead. We\u2019re in the first stages of really understanding what these events mean and how they will ultimately play out. We\u2019ll only start to get a deeper understanding Sunday night and early next week, so stay tuned and be prepared for extreme volatility.<\/p>\n<p>The Troika has aimed and fired their bazooka at lowly bank depositors who were dumb enough to believe their bank deposits were safe and insured against theft. One potential unintended consequence could ultimately be the very destruction of that which they so desperately wish to preserve: the Euro currency in its current form.<\/p>\n<p>Please refer to the charts below for further commentary and analysis\u2026<br \/>\n*Look for email alerts\/market updates should conditions warrant or if\/when environment allows<\/p>\n<p>APRIL GOLD (GCJ3) - WEEKLY CHART<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft\" alt=\"\" src=\"\/img\/sites\/ino\/email\/5057.jpg\" width=\"658\" height=\"527\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>MAY SILVER (SIK3) - WEEKLY CHART<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft\" alt=\"\" src=\"\/img\/sites\/ino\/email\/5058.jpg\" width=\"657\" height=\"526\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>\"Just as there was no turning back for Julius Caesar\u2019s army\u2019s after crossing the river Rubicon, if the European Union breaks its promise on deposit insurance, it too will pass a point of no return for depositors. In this case, future promises of a \u2018government guarantee\u2019 won\u2019t be worth the paper they are printed on.\"<br \/>\n\u2014 David Franklin, CEO of Sprott Private Wealth (March 18, 2013)<\/p>\n<p><a href=\"http:\/\/www.danielstrading.com\/offers\/941\/277\/?refid=120h&amp;brokid=126&amp;utm_source=blog&amp;utm_medium=web&amp;utm_campaign=gold-and-silver-speculator&amp;utm_content=text-link\" target=\"_blank\"><strong>Subscribe to The Gold &amp; Silver Speculator Absolutely Free!<\/strong><\/a><\/p>\n<p>This is a sample of the analysis from my weekly precious metals market commentary newsletter, The Gold &amp; Silver Speculator. <a href=\"http:\/\/www.danielstrading.com\/offers\/941\/277\/?refid=120h&amp;brokid=126&amp;utm_source=blog&amp;utm_medium=web&amp;utm_campaign=gold-and-silver-speculator&amp;utm_content=text-link\" target=\"_blank\"><strong>Register now<\/strong><\/a> to receive the most relevant investment information and trading tools to participate in the gold and silver markets!<\/p>\n<p>By: Kurt Pfafflin<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Catastrophe in Cyprus: Desperate times call for desperate measures. Euro Troika (IMF\/EU\/ECB) aims bazooka squarely at depositors &amp; fires: Outright theft and confiscation of private property...disaster ahead? Despite the strange, absurd sense of normalcy that has somehow prevailed this week, the world is witnessing a horrifying, slow-motion bank robbery in progress. With hostages\u2026lots of \u2018em. [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[4934,4340,23,7948,4488,294,4933],"class_list":["post-19275","post","type-post","status-publish","format-standard","hentry","category-general","tag-catastrophe-in-cyprus","tag-daniels-trading","tag-gold","tag-guest-bloggers","tag-kurt-pfafflin","tag-silver","tag-the-gold-silver-speculator"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v23.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Gold &amp; Silver Speculator - INO.com Trader&#039;s Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ino.com\/blog\/2013\/03\/the-gold-silver-speculator-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Gold &amp; Silver Speculator - INO.com Trader&#039;s Blog\" \/>\n<meta property=\"og:description\" content=\"Catastrophe in Cyprus: Desperate times call for desperate measures. Euro Troika (IMF\/EU\/ECB) aims bazooka squarely at depositors &amp; fires: Outright theft and confiscation of private property...disaster ahead? Despite the strange, absurd sense of normalcy that has somehow prevailed this week, the world is witnessing a horrifying, slow-motion bank robbery in progress. With hostages\u2026lots of \u2018em. 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