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 Replies: 62 / Views: 5,581 |
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Pillar of the Community
United States
1450 Posts |
What's up? I have been watching things develop over the last 2 hours and can't figure out what has caused this sudden upburst in metals when all the usual factors would say they should be dropping. Do you think it is the mess in Greece again?
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Pillar of the Community
United States
830 Posts |
From what I heard on Fox Business it is the Euro falling from some news about the Euro being in more trouble than previously expected. Falling Euro helps the Dollar and PMs.
Edited by GoThunder
05/20/2011 1:19 pm
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Pillar of the Community
United States
3670 Posts |
What is the number ONE factor that brings an economy like Greece or the USA to its knees....
IMO, it is very simply. Government bailouts to save the company's that most feel their country can not endure without. A historical formula for ruining a country's economy.....
That is where the unrepayable debt begins, dipping into the gov funds to save private bus....
Edited by Silverhawk74
05/20/2011 2:38 pm
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Pillar of the Community
Mexico
1304 Posts |
Can you be a bit more specific, what do you mean by "watching things develop over the last 2 hours"? Silver is flat...gold got a little excited. Do you see other factors other than a vertical wall on the gold chart?
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Pillar of the Community
United States
830 Posts |
What he was referring to I'm sure is normally gold and the dollar trade in an inverse relationship, when one goes up the other goes down. Well today something weird happened, they both went up together. Both had significant gains, gold up $21/oz and the dollar index I follow (UUP) jumped back above its 50 day moving average.
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Pillar of the Community
United States
3592 Posts |
I wonder how many people lost their behinds when counting on a stock or PM to do what it was supposed to do ? Most gains or losses are based on perceptions of human beings, and we will never figure it out to any degree of certainty.
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Pillar of the Community
United States
4008 Posts |
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Do you think it is the mess in Greece again? Gosh, Hock, I just wish that people would just STHU about Greece, already. It has such a small economy, compared to the rest of the Euro Union, that it is BARELY significant. In spite of this, we seem to be in a 24/7 whine-a-thon about it. Not saying that you are doing this but the media sure is. This is a classic tempest in a teapot situation. To get some perspective... I live in Washington State. The GNP of my state is about $50B annually. Well, gee... that is almost the same as that of Greece! So, why isn't the media all a-dither about the Washington State economy being in the toilet and its possible impact on the US economy? I guess that foreign situations are just more interesting.  |
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Pillar of the Community
United States
4008 Posts |
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I wonder how many people lost their behinds when counting on a stock or PM to do what it was supposed to do ? Most gains or losses are based on perceptions of human beings, and we will never figure it out to any degree of certainty. - Maineman My guess would be that plenty of people have gotten poorer via betting on the come in stocks, bonds, real estate, and commodities. Like the weather, these things are variable AND unpredictable. Anyone who thinks that they can predict their movements over a short time horizon is fooling themselves. It's difficult enough over the long haul. That's OK, though. The purpose of such people is to provide money to the market. My purpose, as an investor, is to collect it!  |
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Valued Member
Guatemala
357 Posts |
Strong dollar? I wish someone would tell Banco Industrial that here in Guatemala. I've watched the exchange rate fall from 8.3 to the dollar to 7.48. I bought at 7.55 yesterday.
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Pillar of the Community
 United States
1450 Posts |
Ed_B,I think the whole Greece obsession has more to do with how Germany will respond if Greece can't get their act together. If Germany decides to tell the rest of the European Union to kiss off,all heck will break loose in the European economies. They are also afraid of a domino effect if Greece has to do a radical restructuring of their debt. Again,if all of these situations were treated as true free market situations,there would be extreme pain but remedies would occur. Instead,we have to"protect" everyone from their mistakes and screw up the rest of the world.
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Valued Member
Cyprus
349 Posts |
to put it in perspective Greece has about 11.2m people. The importance of it is the precedent it will set for the other EU states on life support that are waiting for their handout (imo).
Edited by Ozzie
05/21/2011 1:22 pm
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Pillar of the Community
United States
830 Posts |
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The importance of it is the precedent it will set for the other EU states on life support that are waiting for the their handout (imo). I agree, its not really about Greece. There are many Euro countries with bad debt problems, some say the whole Euro currency is a house of cards and its not "if" but "when" the house of cards falls in. Having the head of the IMF thrown in jail for sex crimes didn't help any either since he was one of the main guys helping bail them out. Edited by GoThunder
05/21/2011 11:41 am
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Pillar of the Community
United States
4008 Posts |
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Ed_B,I think the whole Greece obsession has more to do with how Germany will respond if Greece can't get their act together. I still say it's a tempest in a teapot. If Greece can't or won't get their financial act together, which they promised to do as a condition of EU membership in the first place, give them the boot and move on. Throwing more Euros at them will not resolve this issue. Only the Greeks can do that and, so far, they have not shown much inclination towards doing that. |
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Rest in Peace
United States
9104 Posts |
Have you ever filled up the tank, only to see the price of gas drop 20¢ a gallon the next day? Or bought just enough to get by, only to find gas 25¢ higher the next morning?
If you have, it cost you a buck or three.
Now what makes you think you can figure the silver or gold markets any better?
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Pillar of the Community
United States
4008 Posts |
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Now what makes you think you can figure the silver or gold markets any better? - BiggFredd My thought is that most of us do not think that we know what the price of PMs will be at any particular future time. We do play the odds, though, and it appears to us that, for a number of reasons, PMs will be more expensive at some point in the future. When that will be, who knows? One could say that this is what keeps the casinos running... and they'd be right.  |
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Pillar of the Community
United States
830 Posts |
Looks like another day of the dollar and gold rising together, the dollar more than gold though. That's ok with me, I'm long both.  |
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Replies: 62 / Views: 5,581 |
Posted 05/20/2011 2:37 pm
