I'm also siding more with Ct on this scenario. God forbid it doesn't happen, but if it does, I think everything we know about markets will go out the window for a while. The only analogy IMO regarding the great depression is that in the end societies will regroup, regain order with a monetary system and we will have markets again.
I'm a gold/silver bull but assuming $5000.00 ounce gold may be stretching it. I do agree that PM's will rise rather than fall, but you only have to look back to GFC 1 to see that quality gold stocks went for a tumble, and tumble they will if GFC 2 is worse. It comes down to human instinct called panic. In the Ct scenario I honestly think the humble potato farmer will be the most successful guy on the block for some time.
Too mant learned analysts have made bad calls with the price of gold recently. They all can't be working for the bankers. Its a little like predicting the next Minsky moment or week.
Something to think about. If you knew for certain that the markets were going to severely crash like in the Ct scenario in 3 weeks time, would most here be lining up the sell orders with your gold stocks tomorrow or would you be confident enough to sail through another crash. IMO you might be sailing into the perfect storm.
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