Score: Banksters Two, Gold & Silver Zero
Friday the 12th and Monday the 15th of April were memorable days. It is clear that both silver and gold paper markets were taken down via a devastating attack of naked short selling that triggered margin calls that accelerated the decline. Gold and silver investors panicked, and some sold into the lows.
We have been there before. Using SLV prices (slightly lower than spot silver), a high near $21 was reached in March of 2008. Markets crashed, both stocks and metals investors were seriously hurt, and the banksters received a bailout – TARP. Ancient history – but the point is that, in 2008, silver dropped about 55% from its high price, while gold lost about a third from its high price.
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