With this weekend's news of deposit money confiscation in Cyprus, as soon as the trade market opened, silver and other precious metals spiked. Within a short time, you can see the effects of market manipulation by the banks. Yes, the same folks who raided their depositor's accounts this weekend.
Watch the green line. More volatility to come...
Some are saying this confiscation was justified because much of the money held in banks in Cyprus was ill-gotten and belonging to Russian oligarchs. I guess it is OK then to shoot into a crowd of people, so that one of your bullets hits a street thief. Others say this speculation is nonsense, because the Russian oligarchs moved most of their money into Switzerland; who knows. I don't see how anyone can honestly justify the act of physically going into others' bank accounts and stealing their money.
Of course, this is precisely what our treasury department is doing by printing trillions of dollars. The only reason we don't see the effects as drastically as the Cypriots just experienced, is because the Europeans finance wizards are even more deranged than ours.
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