Wow Bill, that is pretty gloomy.

I'm not walking around with blinders on or wearing rose-coloured glasses, nor am I panicking. Panic selling just locks in your losses and puts profit in someone else's pocket. I am not selling right now! People like me might be crazy, but why sell?

If the whole thing goes to SHIT, having cash won't save you. Anarchy will rule and those without cash will just take what they need.

Some people are buying bullion for when it all collapses. But what good will that be when I charge you an ounce for an apple?

Perhaps the best way to fight this is to swallow our "paper" losses and refuse to panic sell.

That being said, I recently bought a gold producer. Am I showing my greed - of course I am. But the only victim of my greed will be me and I'm not worried.

Call me crazy - but where is the sanity in panic?

KG