Collapsing gold miners predict massive drop in GLD
The sharp drop in the gold mining indices is warning of an imminent sharp drop in the bullion price.
When gold miners relentlessly fall, the market is stating in no uncertain terms that there is no need to mine another ounce of gold....and that is predicated on the concept that the world is drowning in gold inventory.
When you consider that most gold serves no purpose of any kind and that the gold sitting in central bank vaults merely collects dust and cobwebs, then it is safe to say there is a massive glut of gold today, contrary to pumper assertions.
When the masses awake to the pointlessness of owning gold bullion, then GLD will see a day in which there is no bottom to its share price. That day is coming and could happen as early as now.
I need more shamelsss naked shorts to sell GLD to fully exposed all their filthy ugly dirts underneath their shameless naked shorts to help us to buy at the bottom and then drive the price back up when they try to cover all their fully exposed shameful naked shorts to maximize my profits once again.
Yeah, that's funny. The U.S. spends millions defending it's gold reserves with anti-aircraft weapons, tanks and soldiers but you know more than everybody else.And you'll be dead and buried long before the masses no longer care about gold.
Gold miners collapsing? Really? Central Banks have too much gold? Then why are they buying? Also tell me please, since I'm in Canada, how much my central bank has (besides the small tonnage in its mint program)? And please comment on just how wise is my supposed-to-be-sovereign nation in it's stance, oh insect brain. And would it not stand to reason that before the masses got frustrated by gold's uselessness, they would first have to experience its ownership. That they're not awake we can agree on.