Roubini "bearish on gold"

What's your take on gold in this environment?

I'm bearish on gold. I think that there will be deflationary - not inflationary - forces in the global economy for the next few years. Gold represents a safe haven not against inflation but against Armageddon, in a world in which ... banks can't even be bailed out and people are going to buy guns, ammunition, gold bars and canned food and rush to their log cabins. But that's a world of great depression. I don't think we're going to end up there.