according to a gata source, the refinancing of $700 billion of commercial real estate mortgages by the end of the year could roil the financial markets and send gold and silver higher:

our STALKER's London trader is looking for gold to take off at the end of the summer. Interestingly enough, I spoke to one of our very knowledgeable sources this morning and he is hearing of a similar picture. His contacts in Washington are telling him that all heck is going to break loose at the end of August and in September. There will be chaos, among other things, due to...

*A growing mortgage mess
*Credit card problems
*Commercial real estate fiascoes …

His sources say it could be so bad there will be banking holidays. Much of this sort of commentary has been batted around the interest. What is intriguing is these Washington contacts are predicting a similar scenario.

Actually all of this has been presented in this column (by a number of the very "in tune" contributors) and is not new. However, focusing on a specific time frame is. With that in mind, there is more than a good shot this will be the last time investors will be able to buy cheap gold and silver. There is even a fair shot The Gold Cartel has bombed the market so they can cover their shorts before a "crisis bid" in gold and silver kicks in.

It would explain why silver acts so lousy. JP Morgan and HSBC can't cover their massive short positions at the moment. Who are they going to buy from in size? However, if they can force enough spec longs out and get the price low enough, they can bite the bullet and start their buying. They will have to buy and buy and buy. When, and if, they do, the price of silver will suddenly go ballistic ... especially following the first $2 or $3 of the rally.

To grasp how aggressive The Gold Cartel has been with this recent, blatant manipulation of gold and silver, we need only look how both precious metals have fared versus the dollar, which can't hold a rally for beans. Today...

*The dollar FELL a steep .82 to 79.87.
*The euro ROSE .0168 to 1.4030 after making a 1.4071 high.
*The pound GAINED .0309 to 1.6343.