Feels like October 2008, up late watching the Nikkei

Comments on Zero Hedge are cheap entertainment — then occasionally someone hits the nail on the head:

Lets not forget who has been loading up on gold recently – the hedge funds. As they come off a horrible May and probably continue to bleed – getting blown out on all kinds of credit, equity and currency trades – they will have to liquidate – including gold. Then GLD will be forced to sell sell sell its huge hoard of gold cheap – to somebody ( China?).

So US happy – no more Euro – king of the hill. China gets a bit of action too – gets to buy gold cheap . Everybody happy.

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