The cartel is pulling out all the stops to induce as much pain as possible through the highly levered paper metals markets. Apparently a $100 smash in gold in 24 hours is not enough.
Moments ago, the CME announced a 25% hike in both initial and maintenance gold margins from $6,400 to $8,000, effective after market close Friday 6/21.
From the CME:
Meanwhile 5 stories below 1 Chase Manhattan Plaza….
Perhaps by Monday the CME can just get it over with and announce gold and silver are now fully cash only markets.
GOT PHYZZ (in-hand, meaning no margin calls)?