Thanks for the info folks. Here are some excerpts form the Cafe for those who don't follow it.

Gold was taken down to $880 in the access market …so I am guessing they want to do a follow-through, Monday morning takedown and work gold down next week or for the first part of it. This would underpin the last quarter, “profitable news” forthcoming from the banks as they have been given license to jig the numbers a la new, “creative”, mark to market rules, just like *Wells Fargo did. So, with the combined positive news from the financial sector and bank stocks rallying there will be no ground given for gold. I expect a real rally in the DOW, S&P, Nasty, NY etc. Could this all be aligning with Armstrong’s charts that suggest the market to begin turning down about April 19th? We shall see.

Lots of goodies in Midas yesterday.

*Chief Financial Officer Howard Atkins says the results "reflected strength in our traditional banking businesses, strong capital markets activities, and exceptionally strong mortgage banking results." Mr. Atkins, you are an outright liar and fraud….The only possible source of extraordinary revenues I can think of for WFC during Q1 would have been WFC's use of the massive amount of Treasury and Fed money extended to banks at little or no cost and being put to work in Treasury bonds and WFC earning the positive interest carry…For WFC to come out and make those claims is beyond fairy tale - it's outright fraud…Why is everyone so surprised about the Wells Fargo earnings? The change in "mark-to-market" accounting allows banks to hide ALL portfolio losses if they deem them "temporary" market dislocations.

…there is the total disconnect between the news and the action of the stock market. The DOW surged today on suddenly very positive news out of Wells Fargo Bank,… Get the hell out of stocks while you can during this rally. Fundamentals continue to deteriorate despite the proclamations made by Wall Street an the Government, both of which are presenting fraudulent information. Don't take if from me, read this:

http://zerohedge.blogspot.com/2009/0...

…The Wire Service commentaries, which usually ignore after market action, are unusually assiduous in reporting gold’s marked $5 subsequent slide - attributed by Reuters to the perception of no inflation concern in the FOMC minutes released in mid-afternoon. Taken altogether, it looks as if a short position is being actively managed. (Monday prep?)

…a rumor that a gold refiner in the UK (believed to be Johnson Matthey) may not be able to meet its deliveries for June-July……Whether J/M has banking problems, or gold supply problems, this is a coming hefty positive for the price of gold.

*On top of that I have begun to hear rumblings how the Germans want their swapped gold back, as they are very concerned about the financial goings-on in the US. This is still rumor at this point, but my sources say the US is petrified over this new development. The market already has a significant supply/demand deficit and there is no way the Germans are getting their gold back without the US driving up the price to secure supply.

Veteran Café members will recall James Turk’s coverage of the 1700 tonnes of gold at West Point that was re-classified from US gold reserves to Custodial Gold. Only those reserves were re-classified. Now, what does custodial mean to you?

…Yet another source says what gold remains in Fort Knox will remain a SECRET because "the information on the contents would blow gold up."

*The specs continue to flee from gold, even as the fundamentals of why they should be there are improving. The Gold Cartel has really done a job on them, as the gold open interest fell 10,422 contracts to 334,507 … leaving it close to 60,000 contracts off its recent high. This is a significant drop (there was probably a good bit more today) and sets the stage for a substantial move to the upside.

…UBS notes today that scrap flows in general have slowed "sharply".

Look at how bullish JPM is on gold they raised their forecast to $960 for the year! Wow! Imagine that! I am sure that is going to set off a gold rush for a 9% gain! And of course they have the price lower at $950 for next year making it a 4.5% gain per year. Gheez, do you think they could be talking their book? One not too subtle clue on that front is they said "Investment demand continues to act as an offset, to some degree, to a very weak physical market in precious metals, gold in particular".

This is absolutely criminal! Mints around the world are working 24/7 and rationing supply, bullion dealers are reporting record activity. Large premium are being paid over spot, GLD is having record additions, CEF just made a record new share offering, Silver was in backwardation for over 40 days this year, silver has been leaving the COMEX at record rates in the last week, WGC reported a 68% increase in demand last year, Western Central Banks have started to buy for the first time in decades, gold mine supply continues to contract at 5-10% per year…and yet JPM has the audacity to describe the physical market as very weak!...the same market that they felt obliged to suppress by selling short paper substitutes equivalent to 25% of annual silver supply and 10% of annual gold supply in a 4 week period last July while taking the opportunity to cover 29B$ of OTC gold and precious metals derivatives. And this is what they call a "research note"!! I wonder if there is anyone still listening to institutions that invested themselves to the edge of or into bankruptcy for premier investment advice!

This could get really interesting if Barclays has trouble finding enough silver to square up the SLV books. For sure, if it's the SLV Trust that is removing all that silver from the Comex, it suggests that ready stockpiles of silver on the open market are pretty much gone. The other aspect of this whole situation is that, unless a cartel bullion bank buys iShares, any new buyer will likely not be interested in playing games with the amount of actual silver SLV holds in custody.

One way or another the Cartel will eventually be brutally defeated by the laws of economics.