"We've learned that the top names in corporate America are not sacred and nothing is safe. There is a risk, albeit a small one at this moment, that our own U.S. Treasury could default on debt, but that risk grows in time.

"Recently, the Treasury had to borrow money just to pay interest on the debt. Our Treasury is essentially bankrupt. Skeptics says that is nonsense as they can always print more money.

"It is clear this cannot go on for long without paying the consequences for such irresponsibility. Once central governments (ours included) realize that running the printing press 24/7 debases currency and ultimately leads to significant if not 'hyper' inflation -- the only solution is a gold standard.

"We are currently in a deflationary environment, but that will change in the next year or so. Meanwhile, I would continue to accumulate the physical metal where possible for the long-term. Hoarding is now taking place and for good reason.

"Recent selling in gold has been a result of hedge fund de-leveraging, margin calls, outright liquidation as a flight to cash resulted in the baby being thrown out with the bath water and, unfortunately, manipulation at the highest levels.

"Based on this general long-term forecast, I recommend positions in PowerShares DB Gold Double Long ETN -- an exchange-traded note that moves twice the amount of the movement in gold. For 2009, my target for gold is a move to between $1,200 and $1,400. We would not recommending using a stop with this position."

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