Deepcaster: IMF Athens Meeting Next Week to Trigger EU Banking Crisis

May 7, 2011 By 5 Comments
EU? Or WE OWE U?

Was this week’s gold and silver cartel take-down a preemptive move to prevent $100 silver and $2,000 gold as a result of an imminent EU banking crisis?  Deepcaster’s latest is calling for an official Greek default as a result of next week’s IMF/ ECB meeting in Athens, with 40-70% haircuts possible. This would likely trigger an EU wide banking crisis, resulting in a delay to the US dollar’s collapse, as well as skyrocketing gold and silver prices.
Could this be the reason for the coordinated attack on gold and silver this week?


Click here to read entire report from Deepcaster:


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Comments

  1. Anonymous says:
    May 7, 2011 at 11:53 PM

    could be. the cartel would definitely want gold and silver much lower before such an event.

  2. Vedebech says:
    May 8, 2011 at 2:35 PM

    I am new to this. What is "the cartel" mentioned all the time?

  3. Anonymous says:
    May 8, 2011 at 4:31 PM

    the "cartel" is a group of banks including JP Morgan and HSBS, sanctioned by the US Treasury to suppress gold and silver prices in order to support a strong dollar. The Treasury leased gold to the bullion banks, who then sold the gold into the open market, thus supressing prices.
    The bullion banks, JP Morgan and HSBC primarily, hold naked short positions for ~ 3 billion ounces of silver, and similarly for gold. (world annual silver production is 600 million ounces, 900 million including China).

  4. Big Machine says:
    May 8, 2011 at 4:39 PM

    And Blythe is the head of JP Morgan's commodities division- basically in charge of keeping gold and silver low.

  5. Anonymous says:
    May 9, 2011 at 11:08 AM

    Ahh thanks!

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