Gold price decline this week is only a preview of what's to come

Fear of collapsing US housing prices led to a large decline in Asian
stock markets which led to a large decline in US markets which led to
a large decline in gold due to selling gold holdings to raise cash to
make margin calls.

This is just a preview of what is to come, for when the US real estate
market does collapse in earnest, the declines will be much worse
(10%-60%).

Gold is in a bubble and will go down with housing and the stock
market. Gold will be below $300/oz. once again.

The middle class Baby Boomers are depending on the sale of their house
and stocks to fund their retirement. They will all try to sell at
the same time. They will be wiped out and will have a poverty-
stricken old age.

They deserve to suffer because, given a choice, they always choose
wrong. They are in favor of taxation, the drug war, foreign wars,
affirmative action, all sorts of welfare entitlement payments, foreign
aid, especially to Israel and more and more regulation on every aspect
of life.

I hope to see the middle class gone for good. They will return to the
peasantry and proletariat to which they belong.

.

Relevant Pages

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