[razorback-bert]

Thanks

[headsonpikes]

If the facile media do their usual sensationalistic coverage of this developing story, new retail interest in physical gold may push the dollar price of gold up sharply. Very sharply, indeed. In the context of a developing bull market in gold, this could help create a financial crisis for many major banks and brokerage firms, and the biggest ones, at that.

The financial catastrophe that could possibly ensue might move the Government to once again nationalize American's private bullion holdings.

Too many goldbugs seem to believe that if there is a buck to be made off the collapse of civilization, they will do it, and they'll be there to cash in. This is a species of 'bubble-think', the kind of irrational beliefs that destroyed so many folks in previous financial manias.

Prudence requires that one owns gold; it also requires that one admits to ignorance of the future.

I'm just happy to see my gold and silver positions move up in value. ;^)