The interesting thing is this flight to safety, thus far, is only based on fear of the financial markets. There is an equally strong flight to safety into US Treasuries, indicating the average portfolio manager is still not even thinking about gold. When they discuss this rocket launch of gold prices over the last 24 hours on CNBC, it is as if it is an anamoly, nothing more.

They have talked about this on Financial Sense countless times, but imagine when the general public comes to understand that "safety" does not mean keeping less than $100,000 in your bank account so that it is FDIC insured. Imagine when the general public understands that even if the dollar amount is insured, the purchasing power is losing 10%+ percent every year to inflation. Imagine when even a small fraction of the worldwide public realizes this, and stops losing money on Treasuries, and instead they all try to jump into the TINY gold market in one way or another.

We haven't seen anything yet. I am thinking Peter Schiff's predictions of $100+ daily moves in gold are going to be common when we get to that stage, not just "once in 28 years" as they are discussing on the news now.

-Hysteria