Dow is up 250+ points. S&P in spitting distance of new all-time-highs, and Goldman says “what euphoria?”.  Let the face-ripping commence. Just don’t tell silver cause the white metal is not convinced. Gold, however, is not faring well at all…

The intensity of the banks’ attacks on gold and silver prices have been long, drawn out, and merciless.
Since 2011, the banks have been hitting completely “below the belt”.   They are are now All-in on their efforts to cap gold & silver, because this time they understand: it’s for all the marbles.
Why have the precious metals been massacred since 2011?
The fate of the US dollar as global reserve currency hangs in the balance. 

S&P has finally gotten the message and appears ready to play ball.  After failing to downgrade the US during the latest budget crisis/political meltdown, the ratings firm has just lowered the boom on the EU, stripping it of triple A status with a downgrade to AA+.

In his latest market update, Greg Mannarino states that the market pop in the wake of the 2 month fiscal cliff agreement is merely a relief rally that has no real legs.  He points out that the agreement does absolutely nothing to address spending.
Mannarino states that the Fed’s $85 billion in monthly counterfeitting to monetize the US budget deficit will steal purchasing power from Americans.   Mannarino states that the US ratings agencies will face massive pressure to downgrade the US in 2013, which will result in the busting of the US debt bubble will burst in 2013, and force massive amounts of cash into commodities and physical precious metals.
Cash is going out of style, buy phyzz!

Full update below: