Precious Metals not so "Precious" anymore? I think not

So the G-20 has met and everything seems all fine and dandy right? All we need is a $1 trillion dollar bailout for the world and a global regulator. As a result of the G-20's meeting, gold and silver have dropped like a rock. On Friday, I sold all my silver mining companies and shorted the market via shorting the 3x leveraged ETF "BGU" that tracks the Russell 1000 as the recent run up to 8000 from 6500 is just ridiculous. I must be lucky because the silver miners that I held prior to today have also fallen sharply. However, I will use the profits from my short position to add to my physical bullion collection and buy back my silver miners at a reduced price.

This is your opportunity to accumulate more! We should be thankful that the price has dropped. It allows more of the common people to get out of the paper ponzi that are fiat currencies.