shock and aweThe Bank of Japan satisfied stock markets with a host of new monetary easing that sent the yen tumbling and helped stocks recover from losses. The fact that it is risks an outbreak of significant inflation and possibly a currency crisis is being ignored by market participants for now.

The central bank said it would introduce “quantitative and qualitative monetary easing” with steps including hiking purchases of Japanese government bonds to an annual pace of “about 50 trillion yen” ($530 billion), buying bonds of all maturities rather than the previous three-year-from-maturity limit.

Incredibly, the BOJ is increasing purchases of exchange-traded funds (ETFs) and real-estate investment trusts (REITs) – a sign of monetary imprudence if ever there was one.

washoutTF from has released an update this afternoon warning gold & silver investors that a major wash-out decline in both metals is becoming increasingly likely, particularly as silver has breached support and dipped into the $26 level overnight and again Wednesday afternoon.
TF warns that the cartel appears to be attempting to induce a brief yet violent washout by smashing gold under significant long-term support at $1525 and into the $1400’s, and silver down through major long-term support at $26, triggering massive sell-stops and driving the metal into the low $20’s, at which point the cartel will be able to cover and the next major metals rally will begin.

Turd warns that: Everybody and their brother are looking at $26 silver as a final line of defense. What concerns me is JPM et al working collusively with the other commercials to pull their bids. This creates an air pocket into which the Large Specs sell even more and blow silver through $26. A drop through $26 would frighten nearly everyone but it would be The Bottom and the ultimate and best buying opportunity.

Good luck sourcing physical if this scenario plays out, as wholesale suppliers are already at 8 week delays on 90%, and 3-4 week delays on Silver Maples and Eagles

bitcoin USDAfter soaring in the aftermath of the Cyprus depositors confiscation, Bitcoin has gone parabolic, up over 50% in the past 48 hours to $150…and has subsequently showed signs of a bursting bubble, as it has crashed to $120 this afternoon.

hyperinflationEconomist John Williams says don’t be fooled by the new highs on the Dow. Williams contends, “The economy is still in serious trouble. The banking system is still in serious trouble. The budget deficit is exploding out of control.Williams thinks the ongoing banking crisis in Cyprus has global implications. Williams says, “You have a precedence set in Cyprus that they can seize the funds. They will not guarantee all deposits. If that’s the case, you may have a much worse crisis than you had back in 2008.” Williams adds, “The big problem is the government is insolvent in the long term.” Williams says the U.S. dollar could start selling off in May because of a deadlock in Congress on the budget. Williams predicts, “The global markets are looking for the U.S. to address its long term sovereign solvency issues. That’s not going to happen. . . . In response, it’s going to be off to the races with a dollar sell-off. That could be the trigger for the early stages of hyperinflation.” Join Greg Hunter as he goes One-on-One with John Williams.

keep it simpleDebt, money supply, and the prices for most commodities have exponentially increased over the past 42 years. Prices for crude oil and silver have substantially increased- but inconsistently. I can be certain of death and taxes, and I feel confident that the national debt and prices for crude oil, cigarettes, silver, and most other consumer items will drastically increase in the next few years – under circumstances similar to the past 40 years. A hyper-inflationary increase is also possible, in which case, all commodity prices will be unbelievably higher.
Assuming no deflationary collapse, expect $100 silver relatively soon – perhaps as soon as 2016.

Image: Jonny O'Callaghan

Image: Jonny O’Callaghan

Submitted by Stewart Thomson:

All financial eyes should be focused on the BOJ (Bank of Japan) right now Money managers are calling this week’s BOJ meeting, the most important one in many years.  Key market players expect Governor Kuroda to imitate Ben Bernanke’s actions, and begin buying longer maturity bonds, and more of them, with electronically printed yen.

Kuroda has said he will do “whatever it takes” to get the Japanese inflation rate up to 2%.  Cost push inflation (CPI) will likely be the horrific consequence of doing “whatever it takes”.   Japan is the 3rd largest economy in the world, far larger than Germany, which is number 4.  CPI could devastate Japanese savers.  Worse, because Japan is such a large economy, CPI could spread around the world, and I think it will.
The only good news about CPI is that it could push the gold price well above $2000, and push your gold stocks to new highs.

cyprus infographicOur friends at Demonocracy have released an excellent infographic visualizing the recent Cypriot wealth confiscation by the ECB and the IMF, the size of the depositor haircuts, and the bank run in progress by Cypriots (and preceded by wealthy Russian and UK depositors who were able to withdraw billions while the bank holiday persisted).

The Cyprus Deposit Confiscation Bail-In Visualized:

bitcoin silverSubmitted by Bill Holter:

If you pulled the curtain back and saw the world’s central bankers running around contradicting each other and in outright panic which would you do:  A. keep your savings in the banking system?   B.  set up a Bitcoin account?   C.  “nothing” because the government won’t let anything bad happen?  D.  have some of your (most of your ) wealth in a proven money that has lasted through all failures of all empires and been accepted as payment basically since the beginning of written history?  It’s on sale now folks AND there is still availability!  I suspect that availability will become a problem at some point this year…then price will not matter as the price of gasoline doesn’t matter to a stranded motorist!

sprottA deal has just been struck with Cyprus. However, it was not the deal that Cyprus saw other countries receive. This was not the deal received by Greece, Italy and Spain. There were no bailed out banks in the aftermath. There was no transfer of risk from over-levered banks to the taxpayers. The risk was pushed back onto the banks. Their equity was wiped out. Their bondholders were wiped out. Their uninsured depositors saw their accounts raided for additional liquidity. It wasn’t just that the rules of the game had changed, the game itself changed. By raiding the depositors’ accounts, a major central bank has gone where they would not previously have dared. The Rubicon has been crossed. Going forward, this is expected to be the “template” for dealing with risky, over-levered banks and the countries which support them.

Physical gold and silver demand remains robust in many markets internationally. Demand from the Middle East remains robust as seen in the near record imports of gold and silver into Turkey. Turkey’s gold imports climbed to an eight-month high in March as prices averaged the lowest since May, according to the Istanbul Gold Exchange. Silver imports rose 31% from a month earlier according to Bloomberg. Gold imports increased to 18.26 metric tons, the most since July. That’s up from 17.34 tons in February and compared with 2.91 tons a year earlier, data on the exchange’s website show. The country shipped in 120.8 tons last year. Turkey was the fourth-biggest gold consumer in 2012, according to the London-based World Gold Council. Bullion averaged $1,593.62 an ounce last month and is trading about 17% below the record nominal high of $1,921.15 set in September 2011.

cartel taken to kneesThe cartel’s all-day gold and silver take-down continued in tonight’s Globex and Wednesday Asian trading, as both metals have just been shoved off ANOTHER cliff, with gold smashed to $1565, and silver has broken below $27 to a $26 handle!

CyprusBix Weir joins the SGTReport to talk about the coming collapse of the Western banking system. Bix says the overt criminality we’ve seen in Cyprus is just a sign of the bad things that will be unfolding EVERYWHERE soon. We also discuss the New World Order and the Elite’s plan for a one world government – a CRIMINAL world government led by the same criminal Banksters who are destroying the financial system and who are hell bent on ending the sovereignty of every nation on earth. We also talk about the awakening of the patriots who stand opposed to their evil plan.

alertSteve Quayle’s banking management source has released an alert stating that a false-flag financial cyber attack is close at hand in which the Western Central banks will blame the coming financial collapse.

For some time I have emphatically stated that there will be a bank hack or cyber attack as the global economy is pushed to the brink of collapse. From top level sources I can confirm to you what you are seeing is an emerging pattern of various beta-tests using Stuxnet like algorithms to affect the banking networks the world over. I can tell you though that the primary target is the US.

How can so many bank and ATM networks like NYCE, PULSE, PLUS, INTERAC, CIRRUS, BACNET, NOVUS all be affected? This is truly something of a very sophisticated nature. Something that is very large in scope and very ominous in action. Folks it is without a shadow of a doubt that these are all beta-tests. I have said it before this will be a financial false flag. The frequency of banking network failures has gotten to be very acute to the point that I am convinced that we are edging closer to the one major event that will set everything in motion.
The take down of the economy is close at hand and the major cyber attack will be on it’s way.

platinumWhen Rick Rule pairs lower grades, labor strife and inefficient mines with the relentless demand for platinum and palladium, his result is an investment thesis that could pay off for bullion and equity investors. In his Metals Report interview, the founder and chairman of Sprott Global Resource Investments Ltd. compares the current platinum and palladium space to the uranium sector 10 years ago, and predicts handsome returns for investors willing to shoulder the risk.

CyprusTo describe the events in Cyprus and their relevance to gold, we can start with the analogy of a peaceful, self-satisfied Western investor asleep in a dark room. He has had trouble sleeping lately because he is starting to become more concerned about the safety of his personal wealth. He is unaware that he is sharing his room with three large elephants. They come each night, but remain hidden by the darkness. He awakens for a moment and lights a candle. Suddenly the room is illuminated and he sees the three beasts. The vision terrifies him, so he races to blow out the candle hoping to forget what he saw. Of course, once the light shines on truth it is difficult to return to a state of ignorance.
The events in Cyprus had the effect of turning on the lights, if only for a moment, before the financial media and the world’s central bankers began a blitzkrieg campaign of denying the truth that was briefly exposed.

In light of today’s paper futures smash sending silver towards $27 and several recent predictions by silver experts that silver’s long term price target is $20, we thought it apropos to re-post SRSrocco’s detailed analysis of the current COMPLETE COST FOR MINING SILVER, along with a NEW UPDATE from Steve.

By SD Contributor SRSrocco

Last year, I wrote an article titled THE COMPLETE COST OF MINING SILVER.  In it I used a quick formula to figure what a more true cost would be for an ounce of silver than the CASH COST.

This is an update of the complete cost for mining silver:

usdollar collapseSubmitted by Bill Holter:

Australia recently announced a deal struck with China where they will trade and settle in local currencies WITHOUT the use of Dollars.  This “type” of deal is now becoming more common as the writing on wall for all to see is that no one wants to be “stuck” with Dollars.  This poses a problem, a big problem for the U.S. as demand for Dollars is falling of a cliff at the same time supply (by necessity) has exploded.  This situation of course was evidenced last year as the Fed was “forced” to buy nearly 70% of Treasury issuance…because there were no other buyers.  In a sense this is becoming a self sustaining negative feedback circle where the Fed must purchase a larger percentage of issuance …because investors (trading blocs) see the over supply and reduce purchases further.

There is one last leg left to the chair that should it break, the whole tent will come down.

petro dollar sunset WillieBy Jim Willie,

Editor Note: The following MUST READ Hat Trick Letter is Jim Willie’s self-described “Most Important Article Ever“, following Friday’s release of Willie’s first audio interview on Cyprus.

An unstoppable sequence of events has been put into motion finally. The pressure has been building for months. Some themes are plainly evident, except to those who wear rose colored glasses in the US Dome of Perception. The USTreasury Bond will be brought home to the US and British banks, where it will choke its bankers, then be devalued for survival reasons, after a painful isolation. The Chinese and Russians will conspire to finance the Eurasian Trade Zone corridor foundation with USTBonds, held in reserve, put to usage. The British will play a very unusual role, selling out the United States in order to be squires to the Eastern Duo. The process has begun; it cannot be stopped. The events are already being grossly misinterpreted and minimized in the US press, where devoted lapdogs, artistic swindlers, and creative writers prevail. The Paradigm Shift eastward is showing its next face, with a truly massive trade zone for cooperation and reduced cost overhead as the giant foundation. The Untied States for all of its past hegemony and devious manipulations and vicious attacks, will be excluded. The British will assist in the exclusion in order to avoid the Third World themselves. The following blueprint is the result of years of planning, with steady information and hints and confirmations by at least two Hat Trick Letter sources. The sunset of the USDollar has a blueprint.
As a personal embroidery, let me state that this article is the most important the Jackass has ever written.

Last Tuesday March 26th, we reported that the US Mint had sold 3,356,500 Silver Eagles in March, nearly 1 million in the past 4 days, and were only 25,000 oz from surpassing the all-time March sales record set in 2010.

Well, The Mint would have smashed the all-time March sales record for Silver Eagles…had it not held back sales totals for a full week, and reported a whopping 812,000 oz sold on April 1st.

bank failure*BREAKING SD ALERT*
Editor note: Bringing this massive story back to the top of the news feed for those who missed it over the holiday weekend.

On Wednesday, SD broke the news that Canada had buried a provision for depositor bail-ins for systemically important banks deep inside its official 2013 budget, and stated that the Cypriot bail-in was not just a one-off event, but is in fact the new collapse template for the entire Western banking system.

We suspected that the same policy change had been made by the US & the UK, but was simply yet to be discovered, buried in the website of a Federal agency.

We suspected correctly…