Just read Armstrong, he blames the Magoos of the world for the drop! He said if the gold pimps keep it up, gold's going under 1000. His explanation for the drop makes more sense than all the other tripe I've read so far.
I am no fan of Armstrong. He is just another promoter who has convinced everyone has some magical computer that can predict future outcomes. That is just as crazy as Sinclair worshiping Sai Baba.
Here is what I don't understand: he claims gold is going to the moon in a few years. So why is he bashing those who continue to hold onto gold? He is playing both sides of the fence. If gold goes to $1000, he will say "I told you so." If gold goes to $3000, he will say "I told you so."
Martin Armstrong is a bigger charlatan than Jim Sinclair for 1 reason. He charges for his useless information while Sinclair doesn't.