panicBrexit is being called a six sigma “Black Swan”.  The world will wake up Monday morning to all sorts of margin calls.
You must understand, the “carry trade” is held on very thin margin.
Many “counterparties” were outright blown up today.
The unanimous winner in ALL currencies is gold…

end collapse

Legendary Gold Trader Jim Sinclair ended his radio silence last weekend to warn listeners to prepare for a FREE-FALL Financial Reset on the immediate horizon. 
Was Sinclair warned BREXIT was about to SHATTER THE MARKETS?

end nuclearSomeone very real and VERY BIG is standing for gold.  This “someone” would not be bribed to go away last month and does not look like they will go way this month!
Who is this long who all of a sudden cannot be bribed to stand down?

Looking specifically at silver, we have a true potential atomic bomb in the works for July…

crashEverything has changed.  The entire smell has changed the last two months. . . . It looks like the gold and silver longs are different longs.  They want real metal and will not accept paper.
Big well known money people have been making ominous warnings about another coming financial meltdown.
Why are they making these dire warnings now?  Bill Holter says, “Because it’s gotten so obvious . . . these guys are extremely brilliant people.  I am glad they finally came around and figured it out. . . . They’re getting on the record is what they are doing.  You would not have the caliber of names all lining up in the last 60 to 90 days . . . unless it was going to happen pretty soon…

Bernanke-Dimon-Fed-TunnelThis bares watching VERY closely.
COMEX looks to be nearly 50 tons short of what needs to be delivered.  

Can they entice “eligible” (stored customer) gold to move and serve delivery?

clubIs it possible the clan of monster derivatives banks is a very small club and Deutsche Bank “ain’t a member anymore” because they turned rat?
This certainly bears watching because if Deutsche Bank has been kicked out of the gentlemen’s club, they have been allowed to carry the red button kill switch called derivatives with them!

red alertI think what we are looking at is an EVENT that you’re not going to be able to recover from. If this market snaps and the markets close, and you’re not in position, you’re out. You’re out for the rest of your life.  This is going to be an EVENT that you can’t recover from.”
*Warning: Interview below is NOT for the faint of heart…

JP MorganLast Friday we got horrifying (from a contrarian standpoint) COT numbers with nearly record numbers for commercial shorts. With history as any guide, gold and silver should have already been slaughtered, yet they have not been.  In fact, we now have silver and gold at nearly one year highs and mining equities exploding.
Commercials are very short gold and silver now, and they have lost $billions just today.  Maybe they continue to throw paper at gold and silver, Shanghai ain’t buyin’ it! No matter what the apologists say, COMEX can and will default when they can no longer deliver metal. 
This is the rally you NEVER sell…

bazookaMario Draghi finally let loose this morning with everything left in his monetary “bazooka” and has gone as far as the Bundesbank will let him.
We now have a situation where central banks have lost their credibility.  This will lead to a loss of confidence in all things paper. Either the central banks revalue their balance sheets with a wildly high gold price or the markets will do this for them by voting with their feet so to speak.
We are on the cusp of absolutely wild market gyrations and obscene price levels for gold.
Do I know what the level needs to be for gold to perform its function as central bank reserve?
No, the number could be $25,000, $50,000 or $5 million or more…