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Though you haven’t heard a peep out of the media, the Cyprus parliament will vote today on their own financial execution.  They have basically 2 choices, they can vote themselves out of the EU and everyone loses their bank balances… or they can remain in the EU and lose 90%+- of their bank balances.  Option A would mean going the route of Iceland which 5+ years after their collapse is one of the few economies in the world that is actually growing again, option B would mean sticking with the “known” evil which includes the iron anvil of the Euro attached to their feet for the future.  Option A is obviously in their best interest, option B is what they will choose.

A media blackout on this event is in effect so that the populace doesn’t panic.  How smart would it be to play movie trailers in advance letting people know that “coming to a theater near you” is the theft of your bank balances?  Think about it, if you have plans to steal “money in the bank,” you want as much “in the bank” as possible right?  Why would you promote a bank run where all the cockroaches (that is what the savers are considered) scatter with their funds before you could rob them?  Plans have been quietly put into place to take the “Cyprus template” and use it far and wide.  Once begun, you will only hear “we have no other options” topped off by “who coulda’ seen it coming?”  The coming “global bail ins” are more than obvious to see, all you need to do is use a little common sense and connect a few dots.

I wrote the other day that “the smack down in gold and silver was probably the result of the bottom of the barrel becoming visible.”  This chart courtesy of Zero Hedge pretty much says it all:

Source: Zero Hedge

JP Morgan is down to their last 165,000 ounces of gold eligible for delivery at the COMEX.  It is quite interesting that this hoard has dropped by over 90% and that the draw down began last September (1 month before the obvious capping action in gold began in October).  It is also interesting that the bloodletting of gold would occur as the central banks of both the U.S. and Japan would announce over $2 trillion of further money supply debasement.

In my mind, it is now only a question of “when” do the lights get turned off and deliveries of metals cease.  ABN Amro notified customers 2-3 weeks ago that their supposedly ALLOCATED metal would not be delivered.  How can this be IF it was truly “allocated?”  The only plausible reason that customer “allocated” metal would not be delivered is because it was previously re-allocated to someone else and is no longer in the vault.  There can be NO other explanation.  I guess we should wait for the lawsuits to commence by customers who paid storage fees (similar to Morgan Stanley’s fraudulent silver storage back in 2009) for nonexistent metal.  As has been said many times before and from several viewpoints, you either have the metal or you do not.  When all is said and done, there will be at least 99 people out of 100 who believe that they own metal who will find out that they do not.  The time to act and not be a part of these 99 is now.  Right now.  Deliveries will fail and supply for new purchases will dry up overnight, there will be no “options” once the default is triggered.  Believe me or don’t, this is pure common sense and the most basic of math.