The beginning of the end ! Currency controls are just the start. http://www.zerohedge.com/contributed/2012-06-08/7-million-minute
It isn't fun to watch gold and silver drop like they have. The upside is that the bullion houses seem to be moving to the long side as evidenced by the COT report. Late last week and on Monday they were buyers so it isn't a complete surprise to see the
I have never seen a report with a swing like this. It shows that the bullion houses were net buyers of around 36,000 contracts of gold and 11,000 contracts of silver with large and small speculators doing the selling. This should be very bullish for gold and silver next week.
The news that JP Morgan has a loss of Two Billion and a position that is still open IS A BIG DEAL. The initial market reaction was to sell off but now silver and gold are moving up. The chances are now increasing that they will be forced to stop taking these huge trading positions and this may well mean that they have to cover their silver shorts.
The selling is paper and manipulated by governments. In the end physical beats paper and as we dip here I am buying as much as I can.