is it official? gold & silver were bubbles

If it is the case it will be a bitter pill to swallow for all who believe in the role of PMs in a world awash in compounding debt.

While there are futures markets where money can be created out of thin air and entities in control of those money flows, you can not even begin to imagine how these markets are distorted and moved in defined directions. There is a growing lack of any confidence in the pricing mechanisms that futures have been trusted as being reliable.

There is no asset in this world that can ever remain immune from a severe and prolonged bear market. As all asset prices fall, previously sound businesses, financial managers, even wealthy middle classman will find increasingly over time their wealth erode and while this occurs, no asset is immune from deflationary pressure on its pricing.

Agricultural prices are also where there is likely an increasing amount of futures pricing manipulation through the simple process of creating money out of thin air and pushing it into the short side of anything from pork bellies to rice and cotton.

So looking in the rear view, it looks likely at least in the short to medium term, gold and silver will be viewed as having experienced a bubble.

Is it the case that there simply is no where to hide your wealth reliably unless you are buying the safe havens like PMs at lower price levels than even where they have corrected today? With many banks essentially insolvent around the world it certainly seems that way ... good luck, we'll need it.