cyprus---the latest, page-15

It really is an odd 'solution'. The EU says 'we will lend you 10 billon euro, if you steal 5 billion euro from depositors and pension funds.

I think this is going to be very bullish for gold (albeit slowly) in the long run. In the immdeiate term it can even be deflationary. That is, people are more careful and 'bank activity' world wide slows a little. I mean the cowboy banks are not going to be attracting big depositors anymore at all. So the cowboys will be a little less cowboyish.

And the fact that 5 bill has been removed from the hands of money 'users' does make a deflationary impact in the immediate area. Mind you, a complete collapse would have been quite deflationary.

But, to recap, overall... QE is still the main game. Countries are still holding huge debt. AND said countries are still running monthly deficits. And the only way out is printing and currency debasement. And investors may think to have a little in gold.

So, I am hoping for the slow grind or the status quo. $1600 USD and $1550 AUD for the next 12 or 18 months will suit me just fine. We need the markets to accept this is indeed the new floor for gold. And having gold will avoid the messes like Cyprus. But, indeed, you will miss out on the fake stock market advances. But when they stop, they will likely stop quick.