I love gold and silver, but I'm thinking it goes lower in the short term. China is cracking up - overnight rates hit 25% last night and China denies it, but it's alleged they had to do an emergency bail out one of their banks early this morning. Gold and Silver will both be bid, but in a deleveraging cycle with margin calls and redemptions begetting more margin calls and redemptions, anything with a bid is going to get slammed. At some point I do believe they will have to hit the reset button one way or the other, on a global scale. Maybe we are getting closer to that point as it could probably only be done under the cover of relatively extreme pain. Pretty sure the captains that are steering the ships are in uncharted territory, shrouded in fog, with vicious storms looming on the horizon. Hey, at least we'll get to live through interesting times. :)
