re: Gold...why is it down?

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Claiming that inflation is going to go up is like claiming that the sun will rise. At least we know that the sun will rise tomorrow and yet nobody can identify if and when inflation will set in and to what degree. The only thing we can say is that eventually the inflation claim will hold true even if its 20 years from now. Periods of inflation are a well documented part of history in the ebb and flow of the US economy.

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What do you think inflation in the U.S. is? The official government value of 2-3% or more like 9-10% calculated by John William's Shadowstats.com?

Do you believe that hyperinflation is possible?

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Perhaps I'm old school but the whole current gold phenomenon seems oddly tulip bulb like.

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This makes absolutely no sense. Why? Tulip bulb like is when everyone is involved (i.e. dot com in late 90's/early 2000's, flipping real estate in early to mid 2000's). How many people do you know that actually invest in gold/silver/mining shares? 1%? 2%? 3%? 0.1%??? Gold is no where near a bubble now. It will be eventually, just like in 1980, but we're still not there. I'm holding on to my gold and silver until Time Magazine proclaims that gold is the investment of the century and has a cover with a Wall Street guy hugging a gold cast bull.