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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG
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To: TheSlowLane who wrote (31120)9/5/2011 6:11:05 PM
From: dara  Read Replies (2) of 48092
 
I like to read Ed Steer's comments on the COTs and noticed this remark in his wrapup. I'm not sure what he means by "the world as we know it". Anyone here been following him more closely? I've read others who feel that there will be a market crash but I'm not sure if that's what's being referred to here:

Despite the huge price increases in both gold and silver, the volumes in both were not overly heavy. Gold's net volume was around 130,000 contracts...and silver's was 37,000 contracts.

I'm not going to spend any time trying to analyze what happened yesterday. But as I said earlier, it had all the earmarks of a short covering rally...but the preliminary open interest numbers, especially for gold, don't make for happy reading.

Other than the fact that the entire world's economic, financial and monetary systems are circling the drain at an ever-faster rate with each passing week...everything is just fine.

And, as I've said before, I don't think that the world as we know it will make it much past Christmas...and a friend of mine in Florida doesn't think we'll make it past Hallowe'en. The sure way of knowing how close we are to the end is by watching the gold price...the only money that can't be run off a high-speed printing press, or created out of thin air by the banking system.

Doug Casey's age-old comment about "all the water behind Hoover Dam through a garden hose" is about to be proven correct as the year advances.

caseyresearch.com
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