Gold-related indices closed off 6.7 to 7 percent today. The GDXJ (junior mining producers) index was off 8.24 percent, and the leveraged ETF for miners, the NUGT, was off better than 20 percent. As I posted earlier, the price of oil took another big hit today too.

I don't know which way we are going from here, but I think the banksters will see us into reuinous hyper inflation before they let deflation take hold. That's not stopping the gloom and doomers from growing their ranks.

Be careful, pessimism can be like cancer - you don't want it.