ROLEX18K

The End of Gold, Part Two

I don't care, I am short since 900$ as I know that this is the cliff but I wonder how it will crash, I mean proportions, will it be one bad week that will take GC to 700$ first and then in few months to 200-400$ or it will be some unloading of Gold reserves by Central Banks to form a new agreement where instead of Gold they will hold each other's currencies.
As Buffett said ( he lost 40% this year but he is not stupid ) that he don't invest in Gold as it has no utility, it doesn't generate income in the same way as Coca-Cola, Hershey's, Wrigley's or insurance policy, he said that people are crazy who digg it underground in Africa in some dirt then bring it to Europe and US and store it in underground again, I also agree with him, Gold is industrial matal and jewelry, it is same as Steel, Nickel or Lead and it also can crash.
I don't say Gold is not nice, it is very nice and precious when in jewelry but it is not immune from declining 80% same as Nickel or other bubble assets.Everything is good when price is right, I am proud of US and especially COMEX that they allow me to sell it short from Frankfurt in Germany, I havn't even been to USA and don't want to go there ever, but GOD BLESS AMERICAN CAPITALISM for allowing foreigners to sell it short.Same I made few hundred thousans $ selling Dow Jones futures not even holding ever 1 share of any DJIA stock.
I love America, God bless you!

Gold's Big Picture

The GC will crash, I repeat my previous comments only bring new observation for your consideration.
Today walking in the downtown in Frankfurt, Germany, I passed many jewelerly boutiques many of them are brand names like Cartier, Wempe, Christ and all the rest is high street high end focused luxury selling shops.
Most of this boutiques were empty and employees inside exceeded public inside, I wondered if they sold anything at all today.
Then we went with my girlfriend to shopping center also high end focused, the highest floor with most expensive designer clothes was alost empty, the one below little occupied, the floor where are the cheapest brands and exit/entrance was also not busy.
That's why Gold is heading for 700,600,500,400,300,20... but soon 500-600 $ per ounze is very likely.