Gold hit an all time high today. I see a quick run up to about $1500 per ounce followed by a severe crash in gold back down to about the $800 level. This should shake out all of the retail buyers. All of those "late in" on the gold rally will cash out at a loss. Meanwhile, Waxman and Weiner can hold their congressional hearings and drag Goldline, Rosiland Capital, and all those other gold retailers in to face the inquisition. Hopefully the Republicans can re-take the house and avoid all of the nonsense. However, raking the gold purveyors over the hot coals would make up for some good parting shot lame duck congressional fodder. Don't forget though that George Soros will be there with cash in hand to buy up a bunch a gold and silver as the price comes down to a level he is comfortable with. You see, he will be selling off slowly the gold and silver he currently holds (for a tidy profit) as this mini-bubble gets ready to burst.
This absolutely has to happen. Why? Because 1. George Soros wants to get even richer. 2. The government needs an excuse to confiscate the hard assets that Americans are holding. If a bunch of citizens lose money as the price of gold plummets, then Obama and his minions can demonize the companies that sell gold and outlaw the ownership of gold and silver in the name of "protecting the consumer."
