You sound like an interesting fellow, timber1956. I sure would like to pick your brain some day.
Im finding hedging a necessary tool to keep me sane in the gold market. The volatility is massive, but holding an 'anti-gold' position (eg; USD) of varying size keeps me sane through the inevitable surges & ebbs.
The number of contracts these guys hold in total is just massive, and that is a hedging position! Imagine how much bullion they must hold. These guys are going to make an absolute killing as the price marches higher, selling their holdings incrementally to idiotic governments that decide - way too late - that now is the time to hold some quality assets on their books.
