Silver Breaks $26; Shows What A Little RICO Lawsuit Can Do To The Price Of A Manipulated Commodity
Silver hits a new all time record: $26.03 (except for that whole Hunt bros reverse manipulation thing). It is simply AMAZING what a little RICO lawsuit filed against JPM and HSBC will do. How about a 5% price increase in a day?
And for all those patting themselves on the back for what the Fed's dollar debasement is doing to their stock portfolios, perhaps the fact that the S&P is now down 29% YTD priced in silver should be a Zimbabwean wake up call.
And you ain't seen nothing yet. The LBMA (but mostly JPM and HSBC) are bracing for a tsunami of margin calls after the close.