You're right Garick. But SFMI is merely the Canary in the coal mine. Those who are/have been manipulatng the gold/silver markets for over ten years must be getting extremely nervous post the recent CFTC hearings that backfired on them late last week. JP Morgan was absent and Jeff christian inadvertently spilled the beans. The cat is really out of the tinfoil bag now...no turning back. When talk of treason reverberates through the rarified air of the Fed. Treasury, Bullion Banks and the Admin., both in the US and Britain...throw in the LBMA, Comex, CFTC. media oligarchs and others, behind-the-scenes panic must be percolating through the the lid of arrogance and criminal power enclaves. This angst is ossifying their paper bones and the effort seems to have increased at the JPM level in a desperate attempt to discourage any interest from the "bottom" of the food chain. It is indeed a sign that the war is now being lost as they retreat, vindictively, battle by battle. Rumor has it that funds are preparing to make a fortune in the JPMs going long.

When Bill Murphy gave his presentation the other day to the CFTC, the video went down. It is now available almost everywhere ( GATA.org). Post his presentation the audio went down. Also, post his presentation and the account of Andrew MacGuire's surprise whistle blowing re silver massive fraud in the silver markets, Bill Murphy's major media interviews that were lined up were all cancelled. Later, on sunday, Andrew MacGuire's car was rammed injuring both he and his wife.

The frightening scenario for the cartel however on the fundamentals ... with physical price and supply demand factors now over riding the paper maneuvers...must be intense. Massive fund players and the Asians, ME, Russia, India and others smell blood and all manner of sharks are sizing up the incredible buffet now presented to them on a "silver and gold" platter. The Asians, for instance, can now force a gargantuan short squeeze and make mammoth profits in the foreign exchange markets re the dollar. It is now too late for the Americans/British regulators to stop it by limiting position limits as in JP Morgan and HSBC's illegal, concentrated short positions. Finally the global control of the fraudulent suppression of the gold and silver markets has slipped away from the western cartel.

The biggest fraud in history is now unfolding before our eyes. The $ 5.3 trillon, annual paper derivatievs gold trading markets are under seige. For every ounce of gold sold in London, there are 100 claims...that's right, gold is leveraged 100 to 1. If more than the representative one ounce is requested for delivery, there wll be a major gold default. Settlements have been encouraged for cash but basically that is the same as defaulting on the metal. the Chinese don't want the American dollar instead of gold. In essence, both gold and silver have been massively naked shorted. Sound familiar? Imagine how easy it has been for them to do this with the whole JPM sector. Peanuts. And incredibley, they still continue on.

Those who perpetrated this long term fraud could be facing treason charges because the evidence suggests that the gold owned by the US citizen ( the supposed 8,400 vaulted tons) that can not be sold without the consent of the US Congress, has indeed been secretly and illegally sold off over the years. ( also, watch the ongoing saga in Britain re Gordon Brown's sale of 400 tons of the Bank of England's gold at the lowest price of $250 in 2002 to secretly bail out the defaulted bullion banks). The very security of the US is now threatened as all of her gold is encumbered. That is why the Fed wants no audit. GATA, by way of the Freedom of Information Act has been requesting a report on the status of the US gold reserve for quite some time. The genesis of said scheme goes back to Robert Rubin and his strong dollar policy. If so, this has now become a national security threat for the US. It is suspected that The Fed, Treasury and Admin. colluded to maintain the strength of the $US by suppressing gold and this has now created a great vulnerability. The alarm bells rung by the tin foil hatters began over ten years ago when GATA began issuing warnings which were all ignored. The strong arm tactics that have been working up to now can no longer operate in the shadows.

Where do we go from here? There are a million stories in the naked city.