So here's the real reason PM's went up today

[garthy]

From the ecominist

 

(First, the ECB has made history by becoming the first big central bank to go negative. Not only did it bring down its main lending rate from an already low 0.25% to 0.15%, but also it lowered its deposit rate, paid to banks for funds left with the central bank, from zero to minus 0.1%, in effect charging them for such deposits.) 

 

So the European Central Bank is now charging us to deposit our money with them! Could there be a knock on effect to most high street banks? If so who in their right mind would deposit large sums of money with them? This seems like a desperate move and proves that the banks are still in a terrible shape.

 

A lot of money was taken from the banks and put into Gold and Silver today, again more proof if you need it what would happen if something major were to happen.

 

Precious Metals are where we need to be, keep on accumulating!     

 

 

[Pipers]

Yes I noticed that, Its called deflation and it will eventually be followed by big increases in essentials eg food, electricity etc,  Those printing presses will be running extra fast now or soon in Europe.

 

Its like a big sign saying WE DON'T WANT YOUR MONEY or WE DON'T NEED YOUR MONEY.

 

The question is where will the Banks and big institutions put there money now?

Some has gone into Gold/Silver but not much as the price didn't jump that much.  Remember this is supposed to be safe money for the Banks and I am sure it will filter through to average Joe in the way of even worse saving  rates, charges. 

[garthy]

I was thinking the same, the gold and silver price didn't go up that much especially after the recent pull back, maybe the clever money went into the physical side rather than the paper contracts, I guess we wont find out till the supply and demand report's out later.

[Pipers]

I think you are right garthy, with Austria now auditing its gold in the UK , there is something very strange afoot.