If everything lowers to a level that corresponds to those low oil prices, won't that lead to world-wide economic meltdown?
He's both correct and pointless. Right now gold's spiking to 30 barrels/oz just like it did in the late 1980's and mid 1990's --when the price of gold was around $400.
Markets seem to be on a path of insanity. If gold and oil are forecasting a major meltdown, why are US markets doing so well?