Greece Imploding

[gales0678]

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

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

[dalakhani]

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.

[randallscott35]

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]

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]

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]

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.

[joeydb]

Originally Posted by gales0678

we don't have it

When did that ever stop us before?