Greece Imploding

randallscott35 · #1 05-06-2010, 01:12 PM

There is a reason both World Wars started in Europe....What a mess. And they are the tip of the ice berg.

randallscott35 · #2 05-06-2010, 01:47 PM

And away we go. Suckers rally over. Down 800 points.

MaTH716 · #3 05-06-2010, 01:50 PM

Randall, I swear I went to the bathroom and it was down 400 and when I came back 2 minutes later we plunged 300 points. It's F'n scary. But you can thank automation for these violent gaps down (and up when it happens as well).

randallscott35 · #4 05-06-2010, 01:51 PM

Quote:

Originally Posted by MaTH716

Randall, I swear I went to the bathroom and it was down 400 and when I came back 2 minutes later we plunged 300 points. It's F'n scary. But you can thank automation for these violent gaps down (and up when it happens as well).

And the PPT is in now trying to prop. Problem is this is an currency problem as much as anything.

joeydb · #5 05-06-2010, 05:12 PM

Would I be too much of a cynic to predict that somehow, someway, America will wind up paying for this?

The poor abused taxpayer is about to get bent over again.

randallscott35 · #6 05-06-2010, 05:15 PM

Quote:

Originally Posted by joeydb

Would I be too much of a cynic to predict that somehow, someway, America will wind up paying for this?

The poor abused taxpayer is about to get bent over again.

World policeman, world banker bailouter etc...probably right with the bleeding hearts around these parts.

gales0678 · #7 05-06-2010, 06:41 PM

Quote:

Originally Posted by joeydb

Would I be too much of a cynic to predict that somehow, someway, America will wind up paying for this?

The poor abused taxpayer is about to get bent over again.

we don't have it

#8 05-06-2010, 07:50 PM

Gold should be $1500 by the end of the year.

dalakhani · #9 05-06-2010, 08:01 PM

Quote:

Originally Posted by arizonadave

Gold should be $1500 by the end of the year.

Sovereign debt default should HELP commodities???? That is an interesting take.

joeydb · #10 05-07-2010, 07:25 AM

Quote:

Originally Posted by gales0678

we don't have it

When did that ever stop us before?

randallscott35 · #11 05-07-2010, 07:38 AM

Quote:

Originally Posted by dalakhani

Sovereign debt default should HELP commodities???? That is an interesting take.

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.

dalakhani · #12 05-07-2010, 08:03 AM

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.

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.

randallscott35 · #13 05-07-2010, 08:05 AM

Quote:

Originally Posted by dalakhani

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.

You would have to say considering how strong the dollar has been gold has held up amazingly well. And oil is massively overpriced IMO, it should be in the 50's.

dalakhani · #14 05-07-2010, 08:30 AM

Quote:

Originally Posted by randallscott35

You would have to say considering how strong the dollar has been gold has held up amazingly well. And oil is massively overpriced IMO, it should be in the 50's.

I think gold shills are confident this Euro situation will ultimately be fixed and the dollar will retreat. Obama embracing Bush tax cuts certainly helps gold.

randallscott35 · #15 05-07-2010, 08:33 AM

Quote:

Originally Posted by dalakhani

I think gold shills are confident this Euro situation will ultimately be fixed and the dollar will retreat. Obama embracing Bush tax cuts certainly helps gold.

I am not a shill, I said buy gold on here when it was six hundred something...gold is not the answer....The solution is to stop blatant debt creation everywhere we go and live within our means as a country. And end entitlement nonsense.

dalakhani · #16 05-07-2010, 08:43 AM

Quote:

Originally Posted by randallscott35

I am not a shill, I said buy gold on here when it was six hundred something...gold is not the answer....The solution is to stop blatant debt creation everywhere we go and live within our means as a country. And end entitlement nonsense.

The problem with the entitlement nonsense is that everyone agrees but no one wants to give up on their own entitlements.

Nice call on gold at 600 by the way.