Nouriel “Dr. Doom” Roubini is slamming the run up in the gold market: it's the new subprime bubble only worse. It's leveraged 25-40x not just 5-10x. It's just another example of the global market's central planning directorate in action. Another massive/bad investment by those with all the decision making power. It may also be a good indicator that gold is part and parcel of the old broken economy and not something that should be welcome in the new one we're building.
Phi Beta Iota: George Soros has this exactly right and has pulled out. What can be understood from open sources in addition to the above is that the gold market is chock full of fraud, including gold certificates issued without gold to back them up; and very likely gold diluted with titanium by the Bank of New York under Tim Geithner. There is also the residual matter of the Black Lily covert gold fund, of the gold to be confiscated from Libya before the rebels figure out they're dupes in a major theft, and finally–the wild card–there are rumors circulating in the gold community that a new methods has been found that will more rapidly discover all remaining gold deposits around the earth.
See Also:
Koko: Goldman Sachs CEO Lawyers Up
Reference: US Secret Intelligence, US Banks, Illicit Gold, Murder of the Global Economy, RECAP
