Now Italy (debt very, very much higher than Greece) probably pegged to implode, Euro will fail, and US dollar will benefit initially but there will be a stampede for gold. No one knows how much gold has been sold by Euro governments (except for Germany which still has 4000+ tons stored in London, USA Federal Reserve Bank and France). It would appear that the pressure to buy gold will squash the illegal shorting and manipulation, quickly demolish $2000.00 and soon settle @ $3000.00

Quote from Ed Steer from John Embry in King World News today:

“These shares will go crazy to the upside when this thing breaks away in gold and silver over the next few months.

The reason the government sponsors the shorting is to keep the shares down because they know they are going to have to print so much money and they have to keep up appearances. They have to maintain this myth that there is no inflation and gold and silver are not signaling anything bad on that front.

The bullion price advances will have to backstop the move in the mining shares. But once they get into high gear you have cheap mining shares, massive short positions, the sector is under-owned in a huge way and the sector is extremely small compared to all the other financial assets out there.

It’s all going to come together in a perfect confluence of events with a huge flow of capital. That’s what will drive the prices of the mining shares to levels that investors today would find unimaginable.”

i.e. Our perfect storm!