Quote:
Originally Posted by randallscott35
Uncertainty in the short term absolutely helps gold prices....long term is different but we are not that far behind Greece in the grand scheme of things.
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Sure, panic selling helps Gold and some fixed income investments. Look what happened after they found out what was behind yesterday's mess. Gold and MBS retreated.
What does the Greek situation do for the dollar? You know the answer to that Randall and you know what it does for most things traded in dollars (such as oil). The reason that everyone is shilling Gold is for a hedge against what?
I do agree that there are precious lessons to learn from the situation in Greece but they are not much different than the situation in Ireland and it doesnt seem we learned from that. The only way "out" of this mess is to bite the bullet on a lower standard of living. That I'm sure we agree on regardless of how conservative it sounds.