FWIWFor What It's Worth:
Gary Savage: Gold update the bloodbath phase - The Hedgeless Horseman
My Comment: I don;t put much credence on TA for gold. I do think a debt crisis is coming:
Something "Big & Stupid" Is Coming... | ZeroHedge
Excerpts:
With debt levels reaching all-time highs in major developed and developing economies, and with debt-to-GDP ratios also in record territory (not including contingent liabilities such as Social Security, health care and other entitlements, which make matters worse), it seems time to consider just how nations will deal with this problem.
The debt crisis may not be imminent, but it is unavoidable. When it happens, it may present the greatest financial disaster of all time. It’s never too soon for investors to consider the fallout.