there is the banking problem, particularly in Italy and Spain, where the banks loaded up with debt from their own government, which shows how their interests are aligned. It looks like these banks and their governments will go down together.

The same applies to Japan, UK, the US, and many other countries with zombie banks and over-leveraged governments...

Despite this correction [in gold and silver] and the negative sentiment, it is worth focusing on the fact that gold is up 6% so far this year, while silver is up 10%.  It's been a great start to the year, which promises to be the 12th year in a row the gold price has risen."

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