This sounds exactly right to me. He has to reflate by devaluing the dollar. There's just too much debt. If you need your friends to manipulate markets in the future, you have to cover their backs. Perhaps that is what was done here.

JP Morgan now has a 99% concentration in silver. Can they get out of those 25,000 contracts in time, or do they find another, more devious way out?

$830 gold seems to be the line in the sand, the fortress that defends $850 gold. Notice how predeictable the capping action was this morning?

And, with research notes from Citi, B of A, and now JP Morgan, all talking about $2000 gold...

If the banks have been buying options and shares of mining stocks while they jiggered the futures lower, that would also give them a new profit center, since the lending and borrowing has to go away, or shrink dramatically. Throw in some oil shares for good measure, with a dash of alternative energy stocks.

If only I knew the timing. I suspect it is VERY, VERY soon.