** crash of 2005 **

Gold is now around US$505.00.

Hard to believe that gold was trading at US$540 less than 60 hours ago and threatening to enter a rampaging bull phase.

But yesterday/last night, while the US dollar was weak, while the yen rose more than 2% against the US dollar and the US announced another record monthly trade deficit of nearly US$70 billion, gold fell another US$13.

This has all the hallmarks of the Gold Mafia with their bottomless pits of free printed paper organising a coordinated attack.

Remember, was it August 1993? Gold was on a bull run and had just broken through US$400. In real terms that is much higher than US$500 today.

It was around that time that the Gold Mafia thought that "managing" the gold price would be a good idea. Gold fell more than US$40 in a couple of days, including around US$25 overnight.

From then on the Gold Mafia have been after blood and have regularly killled the gold price. An action that if a super wealthy investor or group of investors did anywhere without permission from the "right people" would be declared as illegal and prosecutions would follow.

The Gold Mafia this time are fighting a losing battle. They have run out of a large percentage of their physical gold to meet deliveries. There are just too many purchasers of gold today for the Gold Mafia to succeed for more than a very temporary period to control the gold price.

This fall in the gold price will be seen as a buying opportunity, particularly as it is occurring with a weakening US dollar which is threatening to resume its full blown bear market, and gold will soon roar ahead.