How might this affect the metals? http://m.smh.com.au/business/world-...to-stave-off-1930s-moment-20120125-1qg7z.html
Swan the bastard wants to help fund the trillion... sigh. I'd rather the tax money go to dole bludgers than the IMF, damn crooks.
Remember Austin Powers Dr Evil trying to ransom the world for ... "1 million dollars... wur hahahahah". How that number seems absurd. Now, 100 million is absurd, 1 billion is absurd, 100 billion is still ho-hum. When will it be that 1 trillion is "oh sooo yesterday". These numbers should be written in their numerical representation, and not just words. Again, back to basic maths. How many people know how to write down 1 trillion in "1"s and "0"s. What does 1T means in relative terms (to an average yearly wage, to the GDP, etc). ...Sorry, trillion probably was not taught in all primary or secondary HS or unis.
Notice those pallets are double stacked .... and those are $100 bills. So when you hear someone use the phrase "trillion dollars"... that's what they're talking about. http://www.pagetutor.com/trillion/index.html
plus the incomprehensible amount of paper used by the financial industry to shuffle around minutes of meetings and print statements etc and people wonder why there are bugger all trees left on the planet ....
We can all bang on about if it is right, wrong, and how many zeros it has...so what? Back to the original question....HOW do you think it will affect the metals?
What do you mean how? We will exchange our worthless metals for newly printed 50 trillion notes. Its the only logical choice.
... HOW it's going to affect pm's is the ONE TRILLION dollar question. If it was automatically going to take off, be sure to find someone manipulating the market. Again, back to the 'what are you valuing your metal in' question.. if it's dollars, and anyone can pluck a billion dollar note out of their wallet, then you're using the wrong measure of value. Refer to the thread that was started that values metals in terms of goods and services, not dollars. HOWEVER, it's the respective price in dollars that is used to calculate it.
Depends a bit on whether the IMF can raise the cash, doesn't it? If they can, its business as usual and metals will keep appreciating slowly but surely. If they can't and there is another credit seizure, metals will probably do what they did last time and tank before bouncing back faster than most other asset classes.
Do you really think they CAN'T raise the cash? The stuff doesnt even really exist....a click of the mouse and bam! $1Trillion new currency. Of course they will get it if it prevents a total global melt down in their opinion.
This little duck is putting every available dollar into more gold bullion. The way its going gold bullion wil be 6-$7,000 dollars an ounce by 2015 and closer to $15,000 by 2020. That is my personal view. Our initial goal back in 2009 was to have a stack that represented 5% of our net worth as a hedge for our property investments. Another year and we should be there. In the next six months expect to see $2,000 an ounce passed and may get to $2,500 as the first of the European banks start to fail. The Euro will be kaput sooner than later. Kind Regards non recourse
Yes borrowing $1trillion will solve everything until interest payment due again on the same amount plus $1trillion more.
