surly23,I've noted your gold forecast in my diary, along with...

surly23,

I've noted your gold forecast in my diary, along with mine, several others here and some banks.

Yes, I have been suggesting gold's a bubble, but when bubbles burst they don't always deflate instantly, impoverishing the over-optimistic participants. Bubbles are only obvious in retrospect, but this one looks like a bubble and smells like one.

I'd classify gold as a mini-mania, when the bubble bursts, which I believe it has, won't result in huge economic damage, just lead to ruin for large numbers of goldbugs and maybe management change at some central banks as the gold they paid $1800 for becomes worth a lot less.

Mini-manias occur regularly whether it's gold or silver, ponzi schemes promising huge returns, uranium or individual stocks or themes.

Gold 1975-1979 and gold recently. See anything similar?