This article has approached a critical CNBC level.
It also concurs with EU worries.
HUI!!! INDU 500!
Its funny when I talk to people about their gold targets, its always like below $1000 or $2000+
Right now it looks like a world wide effort to stimulate and "print money" but so far it has been labeled as borrowing.
Its hard to tell if that borrowed money is already expected to default in the form of money printing.
I have a hard time believing that China is naive to America's inability to ever pay back the debt. Same goes for Greece and the PIIGS in the Eurozone.
I would think after all this easing to zero percent rates and multiple QE and stimulus efforts, gold has probably peaked in its exponential gains you've seen in the past decade.
I can't think of an armageddon scenario where gold would go up a lot. During the financial crisis, gold was a lot lower than it is today, but not because it dropped huge due to deflation, it just never ran up with the panic.