You're right on. Can't wait to hear from Prechter, Tim Woods, Jay Taylor, Bob Hoye, and all the other deflationists in a few weeks, as their theory that "endless printing has no currency consequences" is finally nailed in its coffin.

Gold has all the makings of a year-long cup and handle formation. The handle had a low of 885 or so, and decisively broke to the upside yesterday. Volume on the GLD confirms this breakout. I expect a rise now back to $1000 in the next few days, a 1-2 day pause around the old all-time highs, and a blast through that level.

Silver looks ready to follow on a greater percentage basis. Hopefully back to $16 shortly, and then from there, $21, once gold takes on new highs.

Hysteria