7 Things That Gold Bugs Are Saying This Morning To Console Themselves

Business Insider

Gold is crashing again today. According to Goldman, the decline in gold is the biggest two-day fall since 1983.

Because gold has such a cult following, this is causing a bit of a crisis of confidence among gold bugs, who are scrambling for any explanation for gold's fall.

Here's a rundown of the things they're saying today.

1. "IT'S A FED CONSPIRACY!"

The action is gold/silver is another example of gov't confiscation. MFGlobal, Cyprus, Gold/Silver. This is what a currency war looks like.

— Max Keiser (@maxkeiser) April 15, 2013

Interesting that #Gold crash came 4 days before hearings on #Texas depository. It's like #Bernanke sent #Perry a fish wrapped in a newspaper

— Jim Rickards (@JamesGRickards) April 13, 2013
2. Gold is now 'oversold' — It's a buying opportunity.

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3. All of this selling is just "paper" gold. "Physical" gold is doing just fine.

goldpaper

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4. This gold decline is BAD news for the Fed, since it means deflation.


Gold/all commodities sell off signaling massive deflation; something Bernanke said will never happen on his watch

— Bret Rosenthal (@BretRosenthal) April 15, 2013

@thestalwart @steverattner Not real. Gold price collapse signals deflation. #Bernanke losses.

— Jayron (@Jayron26) April 15, 2013
5. Goldman!

Goldman Sachs year-end target for gold of sub-1,400/oz. they know someone will sell massive SPDR gold trust this year.

— Norman (@Norman__G) April 15, 2013

Large buying volumes of Gold around $1,400. Goldman Sachs mopping up?

— Adam Black (@AdamBla27986197) April 15, 2013
6. This is a bank conspiracy to screw Cyprus
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7. WTF!?

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Screen Shot 2013 04 15 at 8.57.48 AM

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