“Woe to the land whose king is a child and whose leaders are already drunk in the morning. Happy the land whose king is a nobleman, and whose leaders work hard before they feast and drink, and then only to strengthen themselves for the tasks ahead”. (Eccl 10: 16-17)

"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat

Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput

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Wednesday, August 24, 2011

CME GROUP hikes margins for gold

Here it comes....

CME GROUP - Gold Margin Rise Effective After Close Of Business Thursday

Margins will be raised 27%

Old Margin  $7,425
New Margin  $9450

Old Maintenance  $5,500
New Maintenance  $7,000


  1. Great Scott! We're getting closer to a cash market!

  2. Another "manipulation" because of options expiration date...

  3. Today's gold price action already priced in this??

  4. Did they reduce the margin on silver after it 'crashed'?


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