Gyroscopic Investing

i'm looking for comments, especially critical comments, on this artcle...I understand the bias of the author...he's a gold merchant... What about his concept of a "fear index"?

http://www.goldmoney.com/gold-research/ ... fcode=gata

It's too simplistic.  It's based on the quantity theory of money which has been discredited.  I also think his underlying theory is that inflation is responsible for gold not relative real returns of other asset classes.

MG