I said maybe.

Last week, in response to an Overstock.com motion to unseal certain documents, the banks' lawyers, apparently accidentally, filed an unredacted version of Overstock's motion as an exhibit in their declaration of opposition to that motion. In doing so, they inadvertently entered into the public record a sort of greatest-hits selection of the very material they've been fighting for years to keep sealed.

Source: Wall Street Examiner (http://s.tt/1bVP2)

Greeks pulled nearly $900 million out of their banks on Monday and seemed to be withdrawing money at a similar pace on Tuesday

There are important lessons to be learned from all this, lessons the bank lobbyists don't want anyone to hear.

5000 METRIC TONS GONE FROM WEST TO EAST SINCE FEB 29TH RAID
The gold cartel is mortally wounded, drained, but dangerous still
a long summary quote from my best gold trader source (below)
he has been feeding me juicy tremendous info since 2008
/ jim

***

After a seeming tough messy but productive week in the gold trading trench warfare, my reliable gold trader source offered a summary with more expressed satisfaction than ever conveyed in all the years we have been in contact. It is not completely over as a war, but the Battle of the Bulge and Battle of Midway seem concluded, each a major victory. This message is of chest pounding with a foot atop a dead victim. The gold price is surely depressed, but the gold cartel is reportedly mortally wounded. The path upward might be cleared to the point of ending this latest round of price suppression. The Good Guys have finished a mission for this round. The gold trader has a keen knowledge of WW2 and hardened experience of Russia. He wrote, "This is great. The market is cleaned out when it comes to physical. The purchases to drain the cartel are 1000 MT [metric tons] per shot/transaction. The Boyz are illiquid and have to sell at budget bargain prices. The ones they used to patronize and torment are now screwing them back using a telephone pole up the hind quarters with the tip wrapped in razor wire. No prisoners are being taken. I have never seen such merciless executions to that magnitude in my entire career. The target banks call for help and protection, not knowing that they are actually confronted with their executioners. It must be a lonely feeling when the only thing they sense is their own warm blood running down their bodies. They know they are done. It is like the final scene in Enemy at the Gates where Vassili Zaitsev, the legendary Russian sniper, out-maneuvers the German Major Konig sharpshooter. The major takes of his cap, looks at Zaitzev who put a bullet right between his eyes. The real players know when it is game over." This note is encouragement to the extreme for investors to stay in the game, hang onto the gold & silver bars, and wait for the rise like a phoenix in precious metals price since the resistance by the cartel has been significantly removed to the point of assuring victory with a heap of confidence. The Eastern Coalition has transferred over one quarter of a $trillion in gold bullion in under three months from the Western gold cartel camp and munitions cache. They are left defenseless in New York, London, and Western Europe, unable to stop what comes, which in plain terms will be a rise in the gold price that zooms past $2000/oz and finds its rightful level based on value and equilibrium free from the tight grip of suppression. The Jackass cannot promise a date when the historical phoenix rise will occur, but it is on this side of the horizon. The outcome is assured. It is unclear what the laurels will look like or what the air will be like relaxing and healing from the battle waged, sitting on the porch sipping ice tea or whisky sours. Details on the denouement are not at all clear.

***

When my gold trader source was asked how much gold has moved from West vaults to East vaults since the Leap Day Massacre on 29th, he responded without hesitation, 5000 metric tonnes. That is five thousand metric tonnes of gold bars worth between $250 and $260 billion. He explained, "I have seen some major quantities of metal being moved in my many years. However, what I am seeing right now is unprecedented in quantities and capital being moved. The East is converting its unlimited liquidity into hard assets of which Au and Ag are only one core component. The Western depositories are currently being raided at discounts and not premiums, since the time window that has been created allows to do that. However, that window is closing swiftly and once closed, the price for metal will go through the roof."

...

Greek banks have seen a steady decline in deposits since the start of the country's debt crisis in 2009, which prompted depositors to withdraw cash and transfer funds to overseas banks.

In the past two years, deposit outflows have generally averaged between €2 billion and €3 billion per month, though in January they topped the €5 billion mark.

• JPM initial loss is really $3B (they are using using after-tax losses trick)
• Word is with subsequent moves in yields, loss has already widened to $4B+
• Greece already back at debt burden from before default saga; will have to default again
• Spain also in dire straits (Portugal also very bad but doesn't have much refunding to do this year)
• Banks cannot raise capital in this market (Unicredit case proves this). BANK CAPITAL RAISING NOT AN OPTION IN GENERAL! (govs must print to support)
• Depositors taking money out of euro banks, that's what has been driving ongoing cash crisis!! (Not making new loans, therefore there would be no need for cash other than capital flight!)
• This is a bank run, just not being called that
• Given cont. gov chaos the gold price cannot stay down
• G8 govt's will have to reneg on vast social support promises
• Needs to be mass repudiation
• China to have Harder landing than expected (look at power generation)
• China's new gold off-take is 20% of world prod.!!
• 2000 tonne marginal annual supply/demand deterioration in gold from 2000-2010
• Where is the gold coming from????
• Central banks must be surreptitiously selling gold
• Silver similar picture but w/o big stockpiles to sell off (so some other means must be used to suppress price)
• New silver prod only 6.5x gold output!!
• When dust clears, gold will be part of official monet. Sys
• Silv. will have major monetary role
• Silver will be the investment of the decade