eagerly awaiting the constitutional ruling in Germany today......this will be a major factor in determining the speed of decline of the euro.....and then eventually the US dollar.....i have bought my chips and beer ....look forward to the show....
yep....10.00am european (german time).....6.00pm brizzy time......bout right....i think this evening's silver/gold prices are going to get pretty erratic........
I think either outcome, it will be a win win for metals. Germany decides to help the ECB print money, we have a euro version of QE, gold and silver climb with the money supply. Germany decides not to help the ECB print money, the Euro experiment fails and the EU with it and everyone flocks to PMs as a safe store of wealth, gold and silver climb. I imagine the latter might mean it climbs faster.
i suspect we'll still see the same flight back to the US dollar as funds initially flee from the EURO and into something (perceived to be safer - hahaha)....with perhaps some softening in the metals prices....however, this pattern may finally be broken with people realising that the see-saw can be avoided by going straight into precious metals....time will tell.....that time is soon...
+1 I see people exchanging between currencies before they buy gold. A couple of years ago in Greece gold sovereigns were selling for ridiculous prices over spot purely because there was more demand than supply. Multiply that by Europe. I think the US may still be some people's first choice as it is better known and easier to get hold of, no supply problem there, just turn on the press to meet demand!
agreed..............its more habit than anything (habit developed over a long period of time and pumped by all (most) financial advisers.etc....just got back from buying the wine and chips..haahhaha...will be tuning all computers and the TV to the anouncment around 6pm.....either way we celebrate as the EU is no doubt going to be printing......(on a personal note...being of Polish extraction...i am SOOOO glad that Poland has deferred thir joining the EURO until they get the shit sorted out......which i am hoping means they will never join the EURO!!!...Yipee!!!! they must be thanking their lucky stars...wondering to themselves...."what were we thinking!!!!!"......results would be worse than how they came out of WW2..IMHO
^^^ Damn I wish I had one of those massive touch screen computer things the Bloomberg girl was using.