Sunday, June 6, 2010

Feels like October 2008, up late watching the Nikkei

Comments on Zero Hedge are cheap entertainment -- then occasionally someone hits the nail on the head:

Lets not forget who has been loading up on gold recently - the hedge funds. As they come off a horrible May and probably continue to bleed - getting blown out on all kinds of credit, equity and currency trades - they will have to liquidate - including gold. Then GLD will be forced to sell sell sell its huge hoard of gold cheap - to somebody ( China?).

So US happy - no more Euro - king of the hill. China gets a bit of action too - gets to buy gold cheap . Everybody happy.

No comments:

Post a Comment