Seems most everyone is down on this board, and you can count me among you.

Dan Norcini seems to tell it the best, on a short term basis, and has been very accurate the last couple of months. Pierre Lassonde seemed pretty sincere, and his FNV and NGD both took it in the shorts this last week. Don Coxe has recommended lightening up on gold. Another sign - have you noticed how many of the KWN interviews have been described by Eric King as "incredible" or other such words lately? Usually, I'd say one in about six or seven get such adjectives attached, lately more like 6 or 7 out of 10.

The money debasement continues, true enough, but that's certainly nothing new. Recent news from Europe might indicate Euro debasement slowing, but US and Japan still seem pretty hell bent to print. And Europe will have to keep printing, IMO, irrespective of what they might say. But, the "news" that people have not expected, would be that many are calling for a bull market in equities over the next 6-12 months - Coxe is now a bull in general equities, including the financial sector, even though he thinks monetary and fiscal policies helping to make it so now, will eventually turn out ugly. If investors go more into traditional equities, they will almost certainly put less in PM and PM related issues. To me, that's what is driving the price of PM's and PM shares down, along with the usual baloney that is pulled by the big bullion banks (again, though, that's as present now as it has been for years).

One great chart is the one that shows gold going up along with the level of the US debt over the last dozen years or so - assuming the chart was drawn accurately, that's a pretty powerful indicator of a very strong corelation.

Putting PMs aside, I've been more bearish than bullish on general equities for the last year or so, and had the misfortune of being caught short in NFLX this last week - ouch, very, very expensive lesson! But I'm afraid to turn my overall bearish posture around significantly, as the S&P is anything but low at 1500!! Can we really get to 1600 or 1700 this year as many "experts" are predicting? It just seems like a perfect whipsaw opportunity if I were to switch over the the bull side. I hate to miss such a run, but it does concern me greatly to commit to it. What I should do is leave my bull positions alone and start to close out the shorts, and not play many further shorts for the next while.