Here’s my comment on Guido, not moderated.
The people who make money from asset markets have to convince everyone prices can only go one way, and then throw the switch so they go the other. Guido’s been had this time, like millions of others. Sorry to say. Bernanke’s not playing the QE game any more. Without the cash to drive commodity and share markets they will reverse, all of them, gold included.
Guido Fawkes believes the price of gold can only go one way. He might be right, and so too nearly all his readers. But to think any price can only go one way is usually an error. I know my views on gold don’t match 99% of others’, but this is still my blog, and even though Fawkes won’t publish my views on his blog, they will always be posted on here! Assets markets are a game for making money, for the big players. The little guy gets burned every time. Cash will soon be king once more (for a year or three).
Here is a good piece that explains why deflation not inflation is the underlying problem.