It is probably becoming another good time to purchase precious metals. In the long term, there is almost no logical way that precious metals will not appreciate. As the USD (and other currencies) get further and further inflated, precious metals will have to go up (hopefully along with BTC)
Probably true. To me, gold bugs are mostly insignificant in terms of their influence on prices. The 4000 ton gorilla in the room is China and to a lesser extent India and Russia. China has been accumulating Gold and probably silver (the name for a bank in China is essentially Silver Company - 银行 yin hang) for several years. It will be China vs the Fed and fiat. If and when China decides it's time to flex its financial muscles, it will announce that its current reserves have increased by x000 tons and USD will begin its death rattle. I'm not sure i want to be around when it happens but at least we will be able to say we saw history in action. For me, gold and btc are complementary: PMs for the older generations and BTC for the more technically savvy. I went out for dinner with a chinese girl last night and talked about economics for a while. She said her mother (mega rich) had bought a stash of physical gold in the past few months. I asked her about bitcoins and she said her mother had heard of it but wouldn't trust it if she couldn't hold it.
