From the above article: "That being said, there are so many reasons that one should be buying and accumulating physical gold. The Western financial system, [Ponzi scheme], of fiat currency is closer and closer to failing. China has no reason to force the West into immediate collapse."

Guys, we've been hearing that and saying that for years. It's just not happening, and it's certainly not happening soon. That Roberts guy on King World News is a buffoon (I'm sure that's blasphemous, but really, he was assistant sec of Treasury, wow!); his last interview is just awful. No matter what statistics are out there that are unfavorable to precious metals, they are ignored or, actually, more often, just called lies.

When arguments that seem to make sense just aren't carrying the day, I think one has to reconsider.

I believe the reasons one should be buying and accumaulating physical gold is to prop the market for those who have an inventory of it and would like to continue to make money. What will it take for someone to admit that gold is in a secular bear market, instead of a cyclical bear within a secular bull? There's always another support level. Well, let's see if $1180 does hold, we need something. I've sold some precious metal holdings, but too late for the most part, and continue to hold significant amounts just in case, but it's become increasingly clear that gold is not going to do well while the economy keeps improving, however modestly that improvement progresses.

Sorry to be so sour, but Merry Christmas to everyone!