This looks similar to the end of World War I.  Once the euro goes, it will be very much like the end of the war...  You are going to have a lot of currency devaluation. You are also going to see massive inflation. Everybody knows what that means for gold.

So you are in the last hours of turbulence for the gold market (to the downside). Once this correction ends, you are going to have a barnburner to the upside. Gold will just vault. I don't think investors will even remember these frustrating days. I had been warning we could see this drop in gold because of the problems in Europe, but investors should take advantage of it... Look at what China is doing. China is buying gold hand over fist right now.


The only place to be is going to be hard assets and commodities. Incidentally, both Glencore and Mitsubishi, two of the largest commodity companies in the world, have come out in the last day or so and stated that "commodity markets are tight." Once this is liquidation is over, commodities will go crazy."

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