Harvey Organ’s Daily Gold & Silver Report – 2016.04.11

Fed holds secret meeting and will not tell us what they were discussing/1.79 tonnes of gold leave the GLD probably to the safer shores of China/SLV adds 1.427 million oz/Comex silver OI declines despite Friday’s huge rise in price/Gold OI remains relativey constant despite gold’s rise on Friday: obvously the bankers are getting nervous/China’s shadow banking sector in trouble as officials start arresting people/the fun now begins with Heta (Hypo) bank in Austria as bail ins begin!/Big meeting today on how to restructure the huge 360 billion euros worth of bad loans/No word yet on that restructuring/United Health exits two states in Obamacare: state too costly to run

by Harvey Organ
Harvey Organ’s Blog

In the morning hours of Friday, we got word that the Fed was to have a closed meeting with its Presidents and Governors. Supposedly this meeting was to discuss their interest rate but as I told you on Friday, they generally meet on an emergency meeting if something big has transpired. The we learned today that Obama was going to meet Yellen.

The one big area for concern for the Fed will be banking stability. The rise in the Yen will will be catastrophic for our bankers and for the past few weeks, we have seen 3 banks trading southbound in very deep downward sloping trading:

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