We said earlier that it appears the cartel is intent on pile driving silver under $30. As if last Thursday’s margin hike of 8%, or last Friday’s after hours margin hike of 9%, or even Monday’s hike of 11% was not enough, the CME announces the 4th (and 5th) margin hikes in 2 parts! An additional 17% hike! Talk about beating a dead horse! By splitting the margin hikes into today and Monday, the cartel is attempting to circumvent an overdue bounce in silver come Monday.
The cartel knows the weekend will allow traders to regain some of their emotions, re-evaluate the silver market, and decide that silver can now be obtained at an excellent value. The cartel obviously wants to prevent this at all costs. Announcing a 5th margin hike come Monday is intentionally aimed at keeping Blythe’s foot squarely on the necks of the silver longs, with the hopes of continuing the sell-off into next week.
This is now personal. Our gloves are coming off.