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Why GOLD and SILVER will rally next week

Cyprus needed 17 billion Euros in bailout. EU approved 10 billion and requested Cyprus to take some of the money directly from people that have deposits in their banks.

This automatic over night "tax" will take 6.7% of all money deposits below 100,000 EUR and 10% of deposits over 100,000 EUR. Banks will open again on Tuesday, but the money is already blocked, so it can not be transfered out.

This is a huge precedence and it shows the power of EU to steal money from private bank accounts over night if they want to.

Massive bank run is expected on Tuesday and I expect this to happen in other EU countries sooner or later.

Lesson learned? Better buy gold you can hold in your hand, everything else is just some digits that can be taken away whenever the goverment wants.

Source: http://www.cnbc.com/id/100559091