We are watching the story play-out exactly as I have been presenting on this blog. Sprott, Paulson, Wall street pundits have totally missed the configuration of the precious metals…arrogant fools that they are…their reputations will also likely follow. Zerohedge, Marc Faber and Jim Rogers have also missed the significance of what is going on…though they are deserving of respect.
These assets are not an alternate to fiat money they are a source of fiat money and will need to be sold to generate required cash. As the banks close, as the system comes to a screeching halt people will continue to use anything valuable in a “Mad Rush" to generate “CASH”. This of course will likely take Oil and Gold down very much lower than most are expecting. Gold likely into the $500 to $600 range and Oil further, likely into the $8 to $20 range. Silver is going to get annihilated and will likely come to rest below $2.
It is truly amazing to watch the convictions of the masses take them just where convictions such as this usually go…It is also sad.
3 hours ago
