$3000 Gold? An Overnight Doubling? One expert sees it in the cards -- from derivatives

From Zero Hedge: The big problem in London is that their derivatives on gold are about 50 to 100-to-1. That’s the amount of derivatives. So if I take out that 1 ounce, the balloon around it -- the derivative -- is getting bigger and bigger and bigger until it’s ready to totally implode. And that’s what you are seeing now. 

So right now, people are going to say: how high can it go? And I’m going to tell you: you are going to go to sleep on Thursday night and gold may be $1,670. And then you wake up the next day and it’s going to be a banking holiday. And gold will be $3,000 bid, no offer. No offer -- and it will be a banking holiday. Because there will be a failure to deliver. You’ve got to have physical coins or bars. If all you have is a piece of paper -- that’s all it is! It will just blow up in smoke.

Unusual for an Options Mentor to Post His Loser

Don't Bet Against the Straddle | Option Pit

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Update: Option Wizards®: real life success stories from the financial markets

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