j.p.morgan's massive gold short ..., page-14

My own thoughts are that, if 'JP Morgan go bottom up', the price of gold will skyrocket - but that's not going to help the world nor 99.99$ of the people in it.

Nor will it help China or the oil-rich Arabs who have reinvested their surplus cash in US bonds.

They certainly are between a rock and the proverbial: They could only get a small fraction of their money out before others joined the stampede and the US$ collapsed.

I've been pessimistic for years and when people accuse me of hoping for the worst I gently remind them that I and friends and family would suffer. But we still have an obligation to do the best we can for ourselves and family and that includes owning gold.