With Cyprus voting to apply a onetime levy on bank deposits by order of the IMF and Eurozone, as a condition for a Bank Bailout of $10billion, Gold responds positively up USD$12.40 to 1605.00/USD$/OZ; Silver was unchanged holding @ $28.85USD/OZ. Meanwhile Oil dipped below to $0.90 to $92.55USD$/barrel. I was just told the Cyprus Banks will re-open only on Thursday. The Canadian dollar holds steady, as Canada and our banking system may be looked upon favorably as a haven. Keep in mind France and its’ new President levied a wealth tax of 25% on individuals earning more than a specified amount. It sent many of the wealthy packing and changing residents and allegiance all for the sake of money, which is rightfully theirs. The world is shrinking and unless governments reign in spending the threat to peace within any countries borders is at risk. The rich will become targets as the poor and middle class see no option when their dignity becomes compromised.  

Note-movements based on previous days closing market prices.

 

Tel:416-362-1300  TollFree 1-877-943-6739

 

Don’t Frogetta About Me!