I cant believe how stupid People are. Gold and silver have to be mined, and are in short supply. Dollars are printed, never a short supply, unlimited really. So why would anyone want dollars, that the fed can, and is flooding onto the global market. I predict the dollar will collapse, metals will soar, as soon as People brain up.

1) Global financial collapse...
2) You come to me offering gold or silver for food, I turn you down flat...

ANSWER: They are worthless too...

the government has declared all gold to be the cause of global warming. they'll take it off your hands to..errr..insure it doesn't cause any more damage.

*sarcasm end*

but seriously, they're probably going to seize everyone's gold in a last ditch effort to keep the nation afloat. the titanic is sinking, and they're claiming the life rafts.

btw. people thinking gold will protect them in the case of an economic collapse, you're wrong.

"how much is an ounce of gold worth?" i ask..they reply "it's worth $1500 and climbing!" "1500 what? you're not talking 1500 dollars that you're predicting will fail, are you? because that would be silly."

trade that paper in for guns and food. gold will be completely worthless. it's heavy, ugly, and almost completely useless.

it's about time that this darn gold bubble started to deflate. The gold bubble is just like all the other bubbles in the market, they build it up and then wonder why they burst. However that being said, if one wanted to get into gold and still thinks it might reach $2000 by next year, then buy while it's down. (not giving financial advice, markets are risky, do your own research)

Gold/silver = the last vestiges of our failing economic system. They've buggered up pretty much everything else, so now they're going to have a go at that. Once that's FUBAR and they've sucked dry the available pockets, you'd best lock-n-;load because the gig will be up, so to speak.

The reason is hypothetical ownership of gold as collateral by many creditors and layers of creditors.

See thread:
Gold "Rehypothecation" Unwind: HSBC (custodian of GLD) sues MF Glbl for gold owned by many

The subtle message is that GLD isn't backed by direct ownership of physical gold.

Also the EU is not stupid, they're not going to print euros like the Fed prints dollars. Once the Fed didn't mention QE3 and the EU indicated they won't print their way out, the speculative value of gold dropped.

Not to worry. Even though this is not New York - fuggedaboutit. Do your charting using the MACD and Ichimoku indicators. We're still bullish.