via Bloomberg - Pulling Out The Media Stops

Bloomberg is very anxious to impress on their readers that gold's bull market has been wasted. Certainly a lot of people have been wiped out in the mining stock decline.

I think the emphasis is on mining stocks, since they want to make it appear that only Africans mine gold in Africa scraping up placer deposits.

The banking sector is very heavily exposed to risk assets on the short side in gold mining stocks, hedged with treasuries that have lost their 'AAA' status. The derivatives bet against gold mining stocks, and their spread with gold prices, and their volatile variance with treasuries has worked for them for decades.

This is now over. The gravy train is at an end.

Time to sell the volatility in gold miners.

http://bloom.bg/19rmyBi

Bloomberg Arcticle

-F6