Looks like it's all falling into place:
1. US out-of-control debt is a never-ending big worry for US and Eu.
2. Too big to fail US banks are definitely failing and dragging down Eu banks with it.
3. Shanghai gold exchange will soon be taking on LBMA.
4. Fort Knox gold holding of > 8K tonnes is unknown.
5. US Govt. has difficulty returning Germany's 300 tonnes of gold valued at $52B.
6. Texas wants back its $1B of gold from Fed Reserve, but even that'll take time to deliver.
7. GS' call (or bluff?) on POG at $900 not working on Comex gold futures.
8. And now, China's massive shopping spree targets gold mines: http://www.wsj.com/articles/china-goes-prospecting-for-worlds-gold-mines-1460266225
In a time like this, it's not quite so bad to be called a gold bug. GLTA.
BDR Price at posting:
32.5¢ Sentiment: Hold Disclosure: Held