Within a few minutes of opening gold dropped $ 20 in Asia - on no volume.  As apart of the double counting of warehouse receipts the banks need gold and silver down to flush out all the longs.  This is a good report to read.  As the markets drop I will be buying physical gold and silver.

It is quite possible that holder of AGQ, SLV, GLD  and the other leverged ETF's will dump their holdings and convert to physica to get away from the manipulation.  Sprott's PSLV is trading at around a 17.5% premium to spot and that is nearer to being the true price of silver.  AGQ may rally from here but I am liquidating the position at a loss - there is no point holding paper that you know is worthless.

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