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.
Wednesday, April 25, 2012
Tuesday, April 24, 2012
Sunday, April 1, 2012
First full-month sales of our new book: surprisingly gratifying. We seem to have struck a nerve.
They say "nothing succeeds like success." We might alter that ever so slightly: 'nothing succeeds like success stories.'
Available from the publisher or Amazon.