CREDIT SUISSE: 'Gold Is Going To Get Crushed' ($1100 By End Of Year)

TBI ^ | 5-17-2013 | Sam Ro

[jiggyboy]

The 8 AM smackdown got smacked back hard today. $1365 looked pretty grim, but the rebound to $1380 keeps it within a day or two of $1400.

Today is option expiration for stocks; this month’s options on gold and silver futures is May 28. I have to guess that They have an obligation to screw put holders this time for a change.

[Zakeet]

Paper gold to zero? That defies the law of supply and demand. To make such a statement without establishing and defending your premise is intellectually dishonest. Explain please.

The demand for paper gold and paper silver will drop to zero as more and more people realize that the ETFs are not backed by physical precious metals. GLD and SLV are is nothing more than an IOUs that are payable in fiat currency. You should carefully read and analyze their prospectuses if you didn't already realize this.

Physical precious metals are already in backwardation, premiums for physical are growing every day, arbitrage is failing to equate paper and physical prices because people are afraid to part with their physical, the Comex and JP Morgan vaults are at low extremely low levels, many believe a default similar to recent ABN AMRO debacle is imminent for both the LBMA and Comex.

For much more information on the subject, I recommend you read the Zero Hedge, GATA, Harvey Organ, Eric King and Turd Ferguson blogs.

[Roccus]

http://www.bulliondirect.com/catalog/selectProducts.do?cat=Bullion_Silver&category=1

[Repeal The 17th]

As. of the end of the day (5:30 eastern time)...
..the price has dropped by $11.60 to $2,791.23 for 100 old Morgan dollar coins.
I am so tempted...wish I had a crystal ball!
(But I still remember buying these for 6 bucks apiece many years ago.)