US Dollar Index Falls Below 73 - Coin Community Forum

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Author	Replies: 7 / Views: 1,268
hockingzig Pillar of the Community United States 1450 Posts	Posted 04/29/2011 11:11 am As of 11 am the US dollar index was 72.99. That is a 3 year low. Rocket time for gold and silver Report this Post to the Staff

vinnycoin Valued Member Canada 442 Posts	Posted 04/29/2011 11:29 am Indeed! Definitely some interesting times ahead. Report this Post to the Staff
carmykle Pillar of the Community United States 2448 Posts	Posted 04/29/2011 2:25 pm Saw that. Gold jumped a bit but silver has vacillated all day. Do you really think they'll get to end QE2 in June without talk of a QE3? Report this Post to the Staff
Silverhawk74 Pillar of the Community United States 3670 Posts	Posted 04/29/2011 2:37 pm Forgive my ignorance, but I perceive the QE2 to be a law which basically has the feds in money printing overdrive, did I read into that correctly? So, if in June they end the QE2 and kick in the QE3, would that not just be more of the same, printing money, which in turn would mean more rises in price of pm's? Edited by Silverhawk74 04/29/2011 2:38 pm Report this Post to the Staff
hockingzig Pillar of the Community United States 1450 Posts	Posted 04/29/2011 3:11 pm Silverhawk,you are close but it is not a law it is a Federal reserve program,with no Congressional oversight. Essentially,it was instituted to keep bond yields low to force investors into more risky investments ie. stocks.The way it works is the Federal government issues bonds to cover our debt with the understanding that the Federal Reserve Bank will buy them with dollars(federal reserve notes)printed and released by the Federal Reserve.This keeps bond yields low and releases more dollars into the market,leading to a drop in dollar value. Until this policy,and similar policies likely to be concocted to replace QE3,PM's will continue to surge. Report this Post to the Staff
Silverhawk74 Pillar of the Community United States 3670 Posts	Posted 04/29/2011 4:13 pm Thankyou Hockingzig, so much more clear now. The bonds are just a loan an excuse to print more worthless money eh, to cover the debt and everything else perhaps? Are the guys buying the bonds and loanin the Feds the money essentially via more investing, making good money on the returns later from all the overextended printing, even if the dollar drops? Edited by Silverhawk74 04/29/2011 4:16 pm Report this Post to the Staff
Brucec Pillar of the Community United States 1026 Posts	Posted 04/29/2011 4:17 pm Well isn't there a law saying they can't raise the debt ceiling anymore then 14 trillion something so will they not have to pass a new law saying OK we can go in debt more. Report this Post to the Staff
Ed_B Pillar of the Community United States 4008 Posts	Posted 04/29/2011 4:47 pm Quote: Well isn't there a law saying they can't raise the debt ceiling anymore then 14 trillion something so will they not have to pass a new law saying OK we can go in debt more. There is a debt ceiling law but that can be circumvented by a vote in congress to raise the debt ceiling. Like an addict, they ALWAYS vote to raise the debt ceiling... after some posturing and rhetoric, of course. There really isn't any doubt about them raising it. It pretty much is a formality but it is one where various politicians seek to gain some political advantage from it. Just a thought... you know those on-line national debt web sites? What would it look like if they showed a window that contained the national debt in terms of gold or silver? Report this Post to the Staff
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