Katchum's  Instablog

J.P. Morgan is crashing on high volume as losses keep piling up. After 2 billion last week, it hit 3 billion this week and I think it will keep increasing.

This interview with Bix Weir discusses the squeeze in J.P. Morgan:

http://www.youtube.com/watch?v=ZOZYkyQx4uw

As Max Keiser points out how the silver market is being manipulated by J.P. Morgan, finally, we see a weakening J.P. Morgan. All banks were up today, J.P. Morgan was the only bank going down, with news about the cancellation of a share repurchase program. They won't even buy their own shares anymore.

When J.P. Morgan weakens, I predict that the silver price will be unleashed to the upside once the black swan appears.

Disclosure: I am long PSLV.

If you don't believe in the bottom in gold yet, then here is the ultimate evidence of gold hitting the bottom.

George Soros, who calls the gold an "ultimate bubble", has quadrupled his SPDR Gold holdings (GLD).

I'd say: let's follow the guru.

Disclosure: I am long GLD, PHYS.

I talked about the "Hollande Effect" in a previous article. One of the biggest fears of rich people is the 75% tax on their income once Hollande became president. So what happened the day Hollande became president? A record of 1500 applicants came to Belgium to store their wealth exactly after the French election day, as reported by Dekeyser & Associés. One of those super rich was Gérard Mulliez, boss of Auchan super mart.

This comes to a surprise to me, because Belgium isn't the country with the lowest taxes in Europe..., but rather the highest.