Silver At Escape Velocity, As Another ECB Intervention Desperately Needed

We apologize for this most recent silver update, but it is rather exhilarating to watch the main Tri-Party repo clearer, and Fed's pet bank squirm. Silver is now above $32.70 as the unleashed squeeze is claiming victims left and right, and the metal is up 7% from yesterday's low. Jamie: it may be time to shelve those dividend plans for a year or two but at least you got your bonus you sly dog, you. As a reminder, margin calls in silver, and they will be, ahem, sizable, commence at 3pm Eastern.

And in other news, the half life of ECB bond monetization interventions is now a few hours. ECB - meet SNB.