RE: mdnGreat Post. Agree 99%. Not sure that those that bought high will stay in however. Everyone is getting killed in everything else as you say, so they will sell whatever they can to keep their head above water. MDN could be that life line and they will have to dump it.
After that useless G20 meeting who knows what to expect. All they did was confirm the obvious and enjoy a meal. You will never get a bunch of bankers or governments to admit their fiet baper is trash. Nothing will come of this until they have reduced its buying power and peoples savings to near zero. It takes balls to hang on to gold right now and I'm sure these crooks will try to force it lower in order to scare more people out of it. Could see 650 if thats what they try to do. IMF and World Bank are both jokes.
I cannot understand why anyone is even talking about a government bail out of GM. They have already started bailing out banks so why don't they give banks the $25billion +10% and make them lend the money to GM. If GM then fails the banks can take over their assets and sell them to whomever will buy them. Government direct bail out of companies is stupid. Are we a capitalist society or are we not. Hell, postitution ranches in Nevada are having a tough time, are they going to bail them out also?