“The price can easily step back 50% in a bull market… then continue its upward surge. ‘At the moment gold shares are not far off pricing in the end of the world,’ says Evy Hambro of Blackrock. End of the world? Not quite. The end of the world can come at any time… and at any gold price. But we doubt that it will come on July 1, with gold at $1,200 an ounce. The feds have created an economy that can’t be sustained. Because it requires bigger and bigger inputs of cash and credit. Everyone knows this can’t go on forever. That’s why the Fed is talking about ‘tapering.’ But you don’t ‘taper’ a major addiction; you have to hit bottom first.”

http://www.billbonnersdiary.com/articles/bonner-gold-low.html

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