Bill Murphy in MIDAS tonight:

"Well, scratch that. Finished a radio interivew on the popular Gary Null show to find gold has been blasted to $1399 and silver was creamed to $28.60. You have to be kidding me! JP Morgan has thrown a temper tantrum with one of their patented PLAN C attacks in The Access Market. As a result, there has been considerable technical damage done to both precious metals. If gold and silver were free markets, this would be a big uh-oh. But since they are not, it is hard to gauge the significance of this blatant intervention. The market will have to tell us the rest of this week whether this was a one day blip raid or something more serious.

It’s Pearl Harbor Day in the US, which is just what we got in gold and silver….....

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Days like today are aggravating, but, in the end, just a bunch of noise. The Gold Cartel made a move on us today because of the Obama deficit cave. Both gold and silver can do anything on a given day, as we just saw. What keepsrunning through my mind is desperate people do desperate things. Can you say JP Morgan?

The reasons to own both precious metals continue to accelerate. Look for both to explode at some point and not look back. This is no time to be out of position.