Rest assured, of course, that you will never see a brutally truthful interview like that aired on mainstream network media in this country.
One thing I've been debating with a colleague is whether or not this current timeframe and cycle of events is going to repeat the same cycle as in 2008. If that's the case, it means there could be some more downside for gold and silver. HOWEVER, at this point it is my view that, because so many analysts and market participants are of the belief that we're in for a 2008 repeat, it will be a self-fulfilling prophecy - if you will - that 2011 won't be like 2008. In many ways the next 12 months will be significantly worse.
I will say that the public's continued ignorance about what is really happening - and ignorance about precious metals - continues unabated. Anectdotally I had a conversation with an acquaintance on Saturday who asked what I do for a living. When I told him he said "seems like a lot of people are into gold these days." To that I responded: "you'd be surprised how few people actually own any gold and silver - especially if you don't include GLD - nor do they understand why you need to own them." And to that he said: "well, count me as one of the ones who don't get it and don't own any." Poor slob. I then went on to hammer him quickly in a tennis match tiebreak 10-4...
But don't take any of this from me, read/listen to what James Turk has to say about this. King World News posted an interview with Turk over the weekend. Turk is one of the few analysts that I believe are worth paying attention to when they share their wisdom:
We're going through something - it's not just a cyclical problem that we're dealing with, we're dealing with a structural problem. And that's why what we're heading into is probably going to be much worse than what we saw in 2008. So, in that kind of environment, I feel very very comfortable owning physical gold and owning physical silver as well as the mining shares because to me they still represent good value and they have usefulness because you know they don't have counterparty risk when you own them...Here's the link to that interview and I highly recommend taking the time to listen: LINK
The overnight hit in gold and silver occurred when the Shanghai metal exchange raised the margins for paper silver by 20% last night. However, we know from the premiums being reported out of India, Viet Nam and China that investors were buying up physical gold and silver at these lower levels. At some point - likely soon - the paper manipulators will once again be overwhelmed by the sheer size of demand for physically delivered metal.