Well, it’s pretty obvious isn’t it? Announce no QE3, roil the markets, goose the $US, smash commodities, breach the debt ceiling and wait for the screams from the “people” or Wall St. to do something about it….see just in from Zerohedge:

“Russell Napier: The Bear Market Bottom Will Be S&P 400

Submitted by Tyler Durden on 05/17/2011 11:42 -0400”

Gee, the non-overnight purchase of Treasuries must be a little bit pregnant. (Arnold knows what the consequences are.) How can one feed the troops? How good is US credit? If you are selling energy to the US, would you want payment in $US, (US debt), Swiss Francs, Yuan, Rubles?

In spite of overwhelming evidence that such “commodities” as silver can scarcely be bought, wheat is about to go parabolic, coal is in greater demand due to the drought-imposed energy shortages in China (coal down again) …and a thousand other clues…are we being given the opportunity of a lifetime?

As to the “when”, Stewart Thomson doesn’t know…(remember what Ranting Andy railed about)…silver could be trounced here…but maybe not …so buy and be positioned. No one can pick a bottom (few would want to) but it can be tempting depending on the bottom to be picked. The former head of the IMF is painfully aware of all this and his timing was disastrous.

Should we silently cheer for Big Ben and Tim and the Fed. and Goldman ( Goldman’s O’Neil says “buy commodities”) and JPM and the regulators to effect conditions setting up a death defying, brief leap off the cliff for silver and the commodities here? What to do? Being totally selfish, for those with any cash left, should we secretly desire an “ECU” to dip to say, 40 cents, knowing that it could be $5 by the late Fall? Got your buys in? Do we even have the luxury to worry about naked short induced defaults?

Imagine though, a trap luring many into margin buying and/or shorting….and then destroying them for good. Say some poor schmuck buys SLW and margins it fully into ECU? A short trap could destroy that move. Thinking bigger… I wonder if the funds are being targeted in such a way? We have heard rumours that such a plan may be in play. Then the big banks can demand their bullion back as the prices of gold and silver soar again. Talk about destruction. That could get out of control in a hurry though.

Then imagine a threat to US Security or even…wait for it….a war. Add it all up and the cost of commodities goes nuts. Guess who is positioned to make the most out of it all?

Are those Richard Mayberry echoes….defense stock, gold and silver?

Timing. Imagination. Fear. Greed.

Will JPM go for broke on silver with this options expiry? If not, when? How far?