The public has next to zero exposure to gold and silver. Most people don't even know how to buy it.Might be true. Jim Rogers had right about many things. I just wonder how high gold will spike after this drop is over...
Of course, when you're rich: you can buy a lot of gold "just for fun" and you're not threatened by anything. If someone spends 10 % of their savings, then that's a huge risk!
Poor people who bought 1-2 ounces for higher prices must feel devastated now. This crash is like a cold shower on their heads.
The simple fact is that contrarians tend to make more money than those that FOLLOW the crowd. And since, as you pointed out, the bears are piling up which is a leading indicator of a bullish market.The simple fact we have another bear trolling PM bug makes me think this correction has run it's course.