Nothing will unnerve the paper gold shorts more quickly and do more to undercut their confidence than to strip them of the real metal and force them to come up with more hard gold bullion to make good on deliveries. "Stand and Deliver or Go Home" should be the rallying cry of the gold longs to the paper gold shorts." --Trader Dan Norcini
QE to Infinity, followed by Gold balancing the balance sheets of the sovereign balance sheet disasters. Just as there is no tool other than QE to feign financial solvency, there is no tool to balance the balance sheet of the offending entities other than Gold. It is just that simple. --Jim Sinclair
My Dear Extended Family,
If this continues it is a declaration of economic war that will trigger significant repercussions that will rock world currency markets.
Russia says JP Morgan blocked embassy money transfer MOSCOW, April 1 Tue Apr 1, 2014 5:51pm BST
(Reuters) - Russia's Foreign Ministry said on Tuesday that U.S. bank JP Morgan had blocked a payment from its embassy in Kazakhstan to insurance agency Sogaz "under the pretext of anti-Russian sanctions imposed by the United States".
The foreign ministry criticised the move in a statement as "unacceptable, illegal and absurd" and warned that any actions against a Russian diplomatic mission would affect the work of the U.S. embassy and consulate in Russia. (Reporting by Thomas Grove)