Replies to post #32666 on GOLDBUGS AMEX Goldbugs Index (GOLD)

[the cork]

Just watch. It could get there this year LoL!

The Euro is on it's lips, Greece is ready to blow, Ukraine already has, is Venezuela, and Argentina, are approaching the hyperinflation stage, Spain, Portugal, and Italy are gonna need bail outs, and France isn't far behind.

Guess who has underwritten all that toxic debt via credit default swaps and assorted derivatives of mass destruction....?

In the meantime the Chinese have foreclosed on a default of "some kind" by virtue of the fact they just took possession of JPM's headquarters building and Gold Vault (you know, the one right adjacent to the Fed's) for half price. Right. Half the going rate.

That ain't business as usual.

Folks can laugh all they want, the fundamentals will reassert themselves with a vengeance. It ain't about a "trade" anymore. Physical is king. Investors who mock the fundamentals may just have to find out the hard way. GLTA

[SOROS]

While I agree that watching the PTB continue to abuse rational economic thought over and over with seemingly little consequences to themselves, much like a cat with 99 lives, we all know it cannot continue forever. Things, both good and bad, in this age of multiplying knowledge and escalating problems being held together with more and more weak currency, will probably hit an exponential run rate at some point.

It is sad what they have done out of greed and power craving madness, because science and technology would hit a point of exponential growth, and new discoveries could have made much of life amazing. However, due to their gross abuse with the FED and derivatives and mismanagement of the tax base, etc., the first exponential run the world will probably see will be the economic collapse. Once it starts, things can happen VERY quickly, including a runaway gold and silver price, since physical is now in so very few hands.