gold forcast of below 800, page-131

john,

You're right, cash is a defensive play, and if I thought gold was a good bet I'd buy some gold or gold shares, but I just don't see it.

The best bets recently have been good dividend-paying shares, a flight-to-safety, but that flight doesn't seem to have included gold.

One of the mainstays of the gold business are the sales of gold and silver eagles, which are down 48% and 28% respectively.

Anyway, I'm going to retire within 2.5 years so I'm more into capital preservation. Nothing would be worse than having some serious exposure to risky assets only to have some major financial catastrophe occur just before I call it quits.

Cheers