There was a good chance that it was coming. I agree that it's not coming now. With Bernanke and the EU ready to print several trillion more dollars and euros, it still might come down the road.
Money does matter. It is not, as some believe, neutral.
People who buy precious metals should understand that they may be a longer-term hedge than they thought. With a world-wide fiat money system cranking out liquidity at ever-faster rates, it is not foolish at all to plan for a collapse.
Amen. While I have taken some positions, it was always in the back of my mind that at some point, panic might overwhelm the printing presses and drive us in a bad replay of 1929.
As others have posted, precious metals are for the long haul, or until this country rights itself. Don't bet the farm, but have some.