Following the disorderly collapse of Lehman in 2008 there is absolute panic at allowing a nation, even a small nation like Greece, to also have a disorderly collapse as the effects of leveraged derivatives will blow up in so many nasty, unexpected ways.
Astronomical amounts of money will be used to prevent another disorderly collapse imo.
This will be extremely bullish for gold imo.
In addition the markets are now telling Bernanke, "Bring on QE3."
Again - extremely bullish for gold.
Jim Sinclair was correct - once gold passed US$1764 we are going to see extreme volatility, and on a daily basis, that we have not seen before.
I guess I had just better get used to it.
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