A reluctant gold bull

With the ridiculous money printing and moral hazard going on in almost every industrialized nation, I'm now a gold bull.

It's tough to love such a metal which has value only as people give it. It doesn't have much use besides jewelry, but I have to be alarmed by what in the world is going on with trillion dollar bailouts of countries, banks, and other corporations.

I doubt many of the gold pundits could have predicted how ridiculous countries have gotten with fiscal irresponsibility, but it seems everyone is pulling the nuclear option and monetizing debt these days, Euro, UK, and US. With this, I'm not surprised gold isn't even higher.

With this much money running around, metals, gold, etc seem to be the biggest no brain trade of a lifetime. I foresee the UK getting the shaft next as people tire of giving the Euro a beat down, that is until Spain, Italy, and the rest of the PIIGS fall under the same situation as Greece. Then we might see capitulation and the end of a currency.

The US has now reopened SWAP lines with other currencies in effect, also torpedoing the US dollar by helping bailout the Euro. Will the treasury recognize the losses when a Euro is gone?

disclosure: long gold.