So you are long Gold, eh?
The gold market has been rigged longer than Libor but no regulator wants to tackle that one. So in the meantime lots of smart people have been talking up that great inflation hedge, gold, when actually there hasn't been much inflation despite money supply expansion via printing presses; it seems the lack of real demand in the economy is apparently why the West is heading towards Japan like deflationary living.
Meanwhile, those with a Twitter like attention spans only have to look at the attached picture to see that Gold is just one huge bubble that has been puffed up by the likes of Paulson, Pimco and other Goldman Sachs long tooths who poo poo Bitcoins and still look at Gold as the worlds true currency.
If you were starting out to trade for the first time, would you be punting on Gold?
Complete madness but the emperor has started to peel back his new clothes and guess what? He is nearly naked and waving a 700 flag at you.
Down down down (reuters)
Paulson's one trick pony exposed (reuters)
Someone explains what a bubble looks like (bloomberg)
Bitcoin exchange attacks are the work of Gold lovin' governments.