They might, but it'll make the place more expensive to heat. That's what happened to my folks when they renovated and ripped out the false ceiling.
Of course they will. It's just pretend to fight. Party D and Party R both have to save face and claim victory in their fight to save the USA economy..There be an election coming up again. Regards Errol43
Ill take that bet Firstly if they don't extend the level then the USA is toast - congress saving face by holding out. They already have enough egg covering themselevs to open a $4.95 all you can eat breakfast buffet. They want to be seen as 'difficult' before the real trouble begins - then back out by saying 'oh we go bullied into it'. Right PM to drop - the debt ceiling media hype is like free publicity for the PM market - noticed the spot? - would Joe Average investor really put is money on an economy needing more stimulus to stay in business? Like the Ag run from $48 to $32 - it's got allot of new interest which wasn't possible beforehand...thanks to the 'crisis unfolding' Now onto the the good stuff - what bet were you thinking? or just a friendly SS one...
Once the debt ceiling is raised it should signal the Fed Reserves next actions which can only be inflationary.... That means higher PM prices IMO. I just hope they hold out and refuse to raise the ceiling for a few months which should see a mega short term sell off.... Hoping to buy the big dip in large numbers.
Surprisingly there has been little discussion on 'inflation' of the USD, the reasons PM (especially Gold) is rising is because people are worried about the strength of the USD and Eurozone in general. If the ceiling is raised I presume people will dump Gold and think "Oh it's safe again" and not know what hit them when SHTF. When you talk about inflation concerns people think of China, India, Brazil and Argentina. Not the US, no way.
They aren't blind, they're just stupid. Throughout their life they have been taught "US T-bills are the safest thing in the world to buy". So yes, I believe they will 'turn a blind eye' and think nothing is wrong.
The DC will be raised, and the market will rally on sentiment but no fundamentals (GFC2!) I don't think investors really consider PMs a safe haven like "the TV says". I mean, as if they wear tin foil hats to think like that. The POS is probably being manipulated right now to go as high as possible, before the predetermined crash.
Although not directly related, here's an example of investor stupidity: http://www.bloomberg.com/news/2011-...ds-drop-as-stock-gains-boost-risk-demand.html Buying up Italian and Spanish bonds because... 'returns are higher'. Genius.
Fishball, I like your thinking but we have to look at QE2 as a great example of Fed Actions being inflationary....... When the Fed Prints people move to metal to insure themselves against it. If the Fed Can't print then money may leave metals temporarily in favour of holding cash. I think the recent run up in metal prices has been the anticipation of a ceiling raise and the subsequent announcement by the Fed of their next round of money printing. Just the same way PM's and stocks went up prior to the announcement of QE2. Everyone was anticipating it and was trying to beat the curve. Just my thoughts, but who am I but a punter with heaps of time on his hands, Cheers Chris
Oh I know it's inflationary lol, just that most people don't know and don't care to think so (or so I believe). They believe the weak USD is due to the weak economy and not because of Bernanke printing more money. The main gist I got from global media by reading between the lines seems to be that Gold is fueled by Euro debt problems and not US problems. Anyway, a stronger USD will mean lower Gold prices I believe, we'll see!
a thought just occured to me maybe they both stalling so they "dont" get elected at next election , because you dont wanna be in power when shit hits the fan; you'll be blamed.
http://www.bloomberg.com/news/2011-...obama-endorses-plan-to-avert-u-s-default.html lol. Gold and Silver already tanking on an 'announcement' of a 'potential plan'. Idiots. Everywhere.
I think the reverse will happen - pms will go up - this is just a lull before the storm. They have to raise the debt ceiling, just like they have done many times before. I like this fall in pm prices as I believe it signals the next big jump up. I was actually wondering what they would do to reign it in this time so Obama is to reduce debt - all talk! I would be more worried if there was no pull back, this is a good buy opportunity in my view ( ps. this is more a hunch than any real evidence!)
