Here one can read many interesting (and wrong) stuff people said against gold back in 1976 - after gold went down 47% in 20 months. Very similar to the situation today. Well, not so similar in terms of price action.. gold had gone down 17% from its $1900 peak only. But the rhetorics against gold are the same.
http://www.caseyresearch.com/cdd/gold-over-just-1976
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