Interesting read thanks dfl!!
I recently read somewhere that if all the worlds debt was to be monitised into gold a single ounce of gold would be worth 45,000 USD!!! (depending on how you calc the debt etc as the derivatives make this infinately maore difficult!!)
Also if this does happen, the US Bnaking regulator passes the legislation/recommendation while they quietly accumulate gold this in effect will recapitalise there system to some extent as gold rockets north and if that uis the case it may actually be more of a 'rerating' rather than a parabolic rise/fall.
I think we will see all reserve banks continue to accumulate heavily providing good support, but technically it does look like a descending triangle pattern, with furhter potential downside. I think this may play out (wont affect MYG with our fantastic hedge!!) before the end of the year setting up the next upswing.
This also warrants discussion on the GOLD thread as Id like to hear with the bugs have to say about it.
Will post it over there if you havent already.
Cheers all
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