The investments by the U.S banks in the small miners are being liquidated as they have a very real need to increase the federal reserves for a future buffer. JP Morgan has a very worrying 15 trillion exposure to the CDS market and Merrill Lynch is a burden on the Bank of America. We saw this action (of the funds and banks) force the price of bullion down in 2008 and we will see it keep TAM down for some time (3-4 weeks).
The investments by the U.S banks in the small miners are being...
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