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 Replies: 100 / Views: 8,044 |
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Pillar of the Community
United States
2764 Posts |
Silver seemed to rally in the last two trading session... is it for good for is it another "sucker rally" before the fall? Anyone wanna guess?
Edited by SA4H
05/09/2011 10:35 pm
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Valued Member
United States
384 Posts |
Who knows. I'll guess another sucker rally.
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Pillar of the Community
United States
4008 Posts |
It is entirely possible that silver will trade in a range for a while, neither going really high or dropping really low. A trading range of $35-45 would not surprise me a bit.
Interestingly enough, the US dollar is showing some strength recently. I'm not sure why this should be, since all of the dollar's problems are still in force. Maybe it is the best house in a bad neighborhood?
Saw some info on the web that indicated that Greek financial problems are boosting the dollar vs. the Euro. Hmmm... much ado about nothing, IMHO. Greece has a GNP that is about the same as Washington State. We have our own money and budget problems but no one is sniveling about how WA is threatening the financial stability of the USA. <shrug>
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Bedrock of the Community
United States
10982 Posts |
Quote:
Interestingly enough, the US dollar is showing some strength recently. I'm not sure why this should be, since all of the dollar's problems are still in force. Maybe it is the best house in a bad neighborhood? - Ed_B That's what it amounts to. I read a great quote the other day that said both the U.S. dollar and all other fiat currencies are dropping like a rock without a parachute. One has fallen 8,000 feet and the other 9,000 so the first one is better!  |
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Pillar of the Community
United States
3670 Posts |
If I was in charge, I would create a one world currency based on gold and silver and the fluctuation of the world market for each gold and silver. Accepted in China, America, the Congo, you name it. But then that would be too simple eh, the complete opposite of what humans do. If there is not enough red tape wrapped around it, our powers to be truly are not happy, and sleeping well at night  .... I am sure most of you can list a million reasons why that would fail, but just on paper means nothing, how do we know if it has never been in place? I recall an old bible story of the king who built a tower towards heaven an attempted to shoot an arrow at God. When everybody woke up, they all spoke a different language. If I was a betting man, I would bet that is where the red tape first got rolled out, rof  ..... Edited by Silverhawk74
05/10/2011 01:05 am
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Valued Member
United States
384 Posts |
The flaws with a single currency aren't just on paper, they are as real as the Euro. The problem is, a single currency makes it more difficult to manage the economy with monetary policy. The German economy is doing great, but Greece isn't. When they had seperate currencies, Germany would tighten the money supply, and Greece would ease on it. But with just one currency what should the ECB do? Raise rates or lower them?
Can you imagine a situation where China is growing fast and facing rapid inflation, and the US is facing a recession? In a one world currency managed by IMF/World Bank all monetary policy solutions to the two problems would be out the window, and problems for both the countries will be exacerbated. Okay that one's still on paper but it's the same as the above situation.
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Valued Member
United States
97 Posts |
back....back....back to $60 now please!
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Pillar of the Community
 United States
505 Posts |
I think BH1964 is right,Greece was downgraded to junk bond territory today and looks like theyll need another bailout from the European union (which will hurt the euro).
this makes the dollar look a lot better
Edited by Frazzle
05/10/2011 02:41 am
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Bedrock of the Community
Australia
21788 Posts |
The 200 day moving average for silver is $28. Just starting to show signs of levelling out. For gold, that is $1,360.
Edited by sel_69l
05/10/2011 05:37 am
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Rest in Peace
United States
9104 Posts |
Quote:
The flaws with a single currency aren't just on paper, they are as real as the Euro. The problem is, a single currency makes it more difficult to manage the economy with monetary policy. Do you think the US as an economy would have grown as it did if each state had their own currency? |
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Replies: 100 / Views: 8,044 |
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Posted 05/09/2011 10:48 pm
