Howdy, Attended the hard asset investing conf in NYC over the past couple of days. I'd been meaning to attend for a few years, but this is the first time I had the chance. Attendance and sponsors down by 2/3 over previous years. This is actually a bullish sign. Be that as it may, there was mixed sentiment. Ian McAvity (one of the founders of CEF and a chartist) is still way bullish but wants to see a bounce back. Support at 1320 than 950. Resistance is around 1520 and 1600. He feels it was a deliberate 500 ton GLD smackdown. Regardless, it did shake out the weak hands and fast money. VanEeden was the only bear last year and so he was key. He sees the real value of gold around 950 or so but doesn't think it will go down that far. He was very pleased by the low turnout from a bullish perspective. With regard to the unfunded liabilities he said it was guaranteed the gov't is going to be raising our taxes in any and every way they can. Most will be on the margin and nickel and dime stuff, but bank on it. Also, the gov'ts (fed, state, local) will all be breaking their promises (unfunded liabilities) because they simply cannot pay. Lastly, they'll continue to monetize everything they can. The summary is that we've been spending more than we've been earning, it can't continue, and the US is in for a drastic decrease in our overall standard of living. Most of them are still touting the owning of physical bullion rather than any form of paper. They hate the big miners but love the juniors BUT also admit that over the next year or so, we'll see the demise of 500-600 juniors as they run out of cash. It was informative and interesting. peace, rono
