As I predicted earlier this week, the NFP report was "weaker than expected." All NFP reports are horrible - and rigged - but with interest rates having crept back up, the government knew it had to get them back down again. And hence, today's near "death cross" in the 10-year Treasury yield - to the downside - just as gold made its own death cross - to the upside earlier this week, with silver soon to follow.

Since last Sunday – when gold hit $1,397 before the 30th “Sunday Night Sentiment” attack of the past 31 weekends – the Cartel has attacked PAPER PMs with a vengeance, to quell its recent surge and convince the world all’s well yet again. Unfortunately, nothing has changed, and gold’s “golden cross” (with silver’s upcoming shortly) indeed occurred – whilst global economic data and geopolitics have only worsened. Per Monday’s article, “golden life preserver in a sea of lies,” and Tuesday’s “cycle of bad advice,” this is the time to ignore the propaganda – like Goldman Sachs’ brutal anti-gold hack job – and pay attention to reality; especially with prices of both metals trading well below their respective costs of production.

Now that a second, potentially cataclysmic "Crimean War" is a significant possibility - whilst "Whirlybird Janet" prepares her inaugural FOMC policy statement on Wednesday, amidst abysmal economic data (like this mornign's NAHB Housing Index), collapsing U.S. Treasury demand (foreigners sold a record $104 billion last week), and heightened currency wars (the PBOC doubled the Yuan's daily trading band this weekend), naturally the Cartel is in panic mode.

U.S. Mint Silver Eagles sales are simply going berserk, as we wrote about last week in "silver anniversary," and global gold demand has started the year even stronger than last year's record-shattering levels. Currencies are crashing, economic data plummetting, and there are real worries that China could be headed for a catastropic real estate and financing crash.