GUYS: Greece is now in "selective default".
But nothing happened.

Why:

European Central Banks ( and the other in shadow ways I guess) are going to "LEND" massive amounts of money starting....TOMORROW FEB 29 2012.
the key word is "LTRO" :


"The Euro’s direction over the next week, and ultimately, over March, will be largely determined by the European Central Bank’s longer-term refinancing operation (LTRO) on February 29. This is the central bank’s second such liquidity operation in the past three months, with the first one in December showing a €498 billion take-up by European banks. The impact of all this extra liquidity sloshing around in the system is undeniably bullish:
"

hundreds of billions of euros are going to hit the markets in the next hours for extremely low rates.


[link to www.forexcult.com]


That may be the reason why gold, silver and crude oil are still intact through the night.