history lesson for all, page-8

Hi guys, gold back to US$1585, but i still think theres a good chance gold will touch $1538, the strong long term support, it only got to $1559 the other day.

I believe Bernankes FED talk in Mid March will be critical for golds direction short term.

If he announce QE will end, gold will drop like a rock and sheep will flee to the US$ as usual, that will be the time to load up on physical.

If he only cuts QE from $85b/mth to say $50B/mth, or he just changed the QE name to new name but maintains the $85billion/mth, i think gold will be back over $1600+ very quickly.

Remember the FED is purchasing 90% of the US debt(using money that is being electronically created out of thin air), its not china or russia buying US debt, its the fed, and if the fed end QE, who will buy worthless US debt?

get my drift folks.