The Blog of goldtracker

Okay. Here are two videos you should see. The first is from 60minutes and is titled:

The Bet That Blew Up Wall Street

It deals with making sense of the derivaties in the market and how Congress royally screwed up by allowing something that helped bring on the Great Depression.

 

This embedded video may really scare you:

 

Both these videos ingested here are several articles that I hit this morning and think worth considering when it comes to gold. Speaking of which, ExactPrice, has it sitting at $729.40 right now.

This first one isn't about precious metals but follows in line with the videos.

Thousands of hedge funds to close, says GLG chief Emmanuel Roman
"Emmanuel Roman, of GLG Partners, said 25pc-30pc of the world's 8,000 hedge funds would disappear "in a Darwinian process", either going bust or deciding meagre profits are not worth their efforts."

Good article on the shortage of precious metals:
Shortage of Gold & Silver in precious metals market

"An unprecedented shortage of physical metal currently exists in the popular gold and silver bullion markets. Premiums, the amount paid and charged by bullion dealers over the current spot or cash price, are at the highest levels since at least 1980, and possibly the highest ever seen for popular gold and silver bullion coins and bars."

Here's two items from SeekingAlpha that you might find interesting:

Gold Miners: Amazingly Cheap

"No, this recent drop in gold has come almost entirely from downward pressure in the “paper” gold markets — the COMEX and Gold ETF (GLD). And this downward pressure has come from two trends:

• Institutional liquidations
• The dollar’s rally

"Hedge funds, pension funds, and even mutual funds have been slammed with redemptions in the last year — mutual funds alone have experienced $967 billion in redemptions since the beginning of 2008."
 

Expecting Epic Gains in Gold

"Throughout Greenspan’s inflation bull market (RIP 2003-2007), I was very bearish, fully aware of the impending credit and derivatives disaster that the Maestro claims not to have seen coming.  Long time readers know my writing included a comparison of the entire USA to the former poster child for corporate criminal excess, Enron (Amron)."