Good call G.

I've been looking for somebody to stick their neck out and call for gold to go down. So far the only logic I've heard is that because it has gone up, then it must come down.

I think his first argument is very weak.

“It is being played by speculative traders in a classic model," Schmidt said. "You can see it every morning when the exchange opens in New York -- gold gaps up.

Is he really referring to the pressure on gold as being a result of daytraders? I'm not so sure this point falls within the scope of some larger signals pointing to the strength of gold. Like when India buys 200 tonnes of gold in a day, that DOES affect the market and does not fit into a 'classic model'.

“What gold is doing has no basis in news events or fundamentals, it is simply trading,"

I think this guy needs to lose the linear thought and broaden his investment horizon. From what I understand both Europe and the USA are up to their eyelids in debt and aren't really tightening their belts in order to pay them back. Perhaps the EU will sell gold (doubtful), but I don't think the US will.

Why do I feel as if this guy looks at numbers and charts all day? Is he aware of the $700B healthcare plan Obama has passed or did it not show up on his graph? Maybe he needs a newspaper...

I mean what the hell do I know, as you are only as good as the information you get - but I have a feeling this guy would not do so hot in a debate versus many of the other pundits that are calling for gold to go up.

This part, I don't really understand. Like literally, I don't understand what it means;

Contributing to this is the Federal Reserve reducing reserve availability in the US, he said. “They are making the dollar rarer – this is going to push the value of the dollar up and we will see the dollar at levels that no one expected, “Schmidt said.

Are they? This is the first I've heard if it means they are not going to print. And secondly I'm pretty sure the Fed does not disclose this information so this might be speculation or hearsay on his part. When the T-Bills come due Im not sure where they are going to get the money from to pay them back. Now if he said that the US will be paying in gold I would agree with him but I don't think they have much left.

I like the goldbugs these days because I understand common sense. This guy does not make common sense.

B

QUEBEC

The Company has claimed over 1,200 claims totalling 66,791 hectares in the Eastern

Townships/Beauce region of Quebec during 2009 that have been accepted by the government. The

Company also carried out and has done extensive sampling within that area.