gld lost another 4.5 tons, page-32

"Likely pog is inversely proportional to the intelligence of the western citizen. You can see why the banksters are trying to dumb down the west"

America is set to become the world's biggest oil producer in 2015 two years earlier than expected, and their budget deficit is expected to dramatically improve from now on. In this context I can understand why former Western investors have given up on gold and moved to investments congruous with an American recovery. What will be interesting is how they respond to continuing Chinese liberalisation of their gold market, and the Indian election in May next year if Modi wins. Eventually this bleeding of gold from the West will have to stop.