http://www.bbc.co.uk/news/business-15533940 could this be what's causing the current fall in silver? with the interest rate cut i would have thought silver would go up (weaker AUD) any thoughts on what will happen to price of silver if Greece votes against the bailout in the referendum?
The market would have priced in the most likely scenario before then. Silver will be going down on the way and will remain down on the "no" vote. @_@
Whats funny about all these articles is they discuss the larger bailout fund and a 50% haircut of the debt obligations. If you look at different chapters of bankruptcy allowing someone to write off 50% of your debt is one of the lower levels of bankruptcy (cant remember exactly which). Its just that the eurozone dont wanna use the B word cause they know what it will do to the markets. Plus the magic used to turn the fund from the 100's of billions to the needed trillions is another mystery (well not exactly but just convoluted). When these things start happening something bad must be looming on the horizon .... :|
I'm just worried what that "bad" on the horizon will do to silver. I'm one of those who has reached his silver target and now wants the price to rise.....not interested in waiting for it to fall and "back up the truck" although I am considering selling some of my stack and buying back in later after a fall....
Being 100% honest, if its a de-leveraging thats going to happen take a look at what happened in 08, then think of it as being worse because its not private debt held in banks and financial instituions but sovereign debt held by countries, basically the final straw. If its not a de-leverage you will be OK .. but at the *moment* it looks like a de-leverage
At the point of complete pain in 08 silver reached $9 .... could be different cause this situation where countries default all over the place is a first time, but im gonna base what i do on previous info ...
Make a new target, or just sit and wait and ignore the kerfuffle . Unless you think you can pick the high and be able to get physical on the low...... Me I would get the truck ready.
Friday i think, well the markets will rally, if the markets rally so should silver and gold too Im actually hoping that this will happen
think the referendum is in January read an article where they reckon Greece will try to get more concessions before the referendum so as to swing a yes vote
I'm convinced that WW3 will begin in 2012 .... sad but true! I just hope that if such madness does prevail that the inbreds are held to account afterwards in a similar fashion to what the Nazis were after WW2. Of course should the inbreds prevail, then we all might as well be dead anyway!
De-leveraging in the paper (futures) markets, decoupling of the physical (bullion) market. When the paper prices tank, physical demand will surge. Indications are that the physical market is already experiencing supply tightness. I think we finally see premiums act independently of the futures/spot prices.
Greece may not even get a vote.... http://www.bloomberg.com/news/2011-...isis-talks-to-push-greece-on-bailout-aid.html
What Germany should be doing is telling Greece to 100% go bankrupt then use the bailout money to bailout the German and French banks.
We don't know what is going to be asked in the Referendum. It might be a matter of ... - Do you want the bailout? - If not, do you want to stay in the EU?
The sad thing is a referendum isn't going to happen till early January. That's a lifetime away at this point. CDE is reporting earnings next week. For my two cents, it has the best risk/reward ratio of any silver/gold miner. But, if the Greeks do say no, Greece will default, they will adopt the drachma, and they will all become beggers. JMHO.
What I find interesting, is this is exactly what a democracy should be. The government should be representing the citizens and not themselves.
