I agree with you in general - gold may fall for an extended
period of time, say, 1-2 years. However, the secular bull
market in gold is definitely not dead, so any such fall should
be regarded as an investment/buying opportunity. Other major
currencies, such as Euro or Yen, will definitely be debased.
I would think of gold/silver as a main protection against
a dollar crisis - park your money there, forget about
fluctuations on the daily, and even monthly basis, and you're
safe. Wake up and sell when there are lines in NY and Toronto
to buy gold, and DOW/gold ratio is about 1.
All the debt out there will be paid through currency
debasement, since the other alternative (the great depression)
is politically unacceptable. Gold has to be mined, it can't
be printed. PMs is the only asset class that's good as
an investment at present time. Rest assured, if you get
carry trade blow-up, gold will likely explode to the upside,
since lease rates on gold are extremely low.
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