Blythe and Jamie on a whack attack for sure. Options expiry Monday Comex futures Tuesday.
What can we do to drive down silver below $36 - why not raise margins.
From Zerohedge this afternoon.
And Like Clockwork, CME Hikes Silver Margins Halting Surge
Submitted by Tyler Durden on 03/24/2011 15:16 -0400
In tried and true fashion, just as Silver was about to viciously destabilize the global capital markets as it surged to new 31 year highs, the CME stepped in and did its usual 3-6 half life intervention by hiking initial and maintenance margins on silver futures from $11,138 and $8,250 to $11,745 and $8,700 respectively. This is merely the latest margin hike in what appears to be a neverneding series designed to reduce speculative "fervor" courtesy of endless liquidity. What it will do is merely provide a better entry point for those who by now realize that silver's next stop in the fiat endgame is $40, then $50, and so forth. Naturally, the price drop in silver caused gold to sell off too. And now that the CME accepts gold as collateral, we can't even visualize the reflexive loops that develop once the metal that is also a collateral currency becomes more and less valuable at the same time.
