Discussion in 'Markets & Economies' started by Ouch, Aug 6, 2011.
Read more: Bloomberg
The world reserve currency!
Thats epic, first time USD has had a sub AAA rating in 70 years! I wonder how this will affect market open...
The market open was gonna be bad anyway, but this will make it worse
What does this mean for silver prices?
I was planning on buying some after the weekend but if this means an increase in silver prices, then I might as well do it now.
Restore glass steagall!
This is big. I hope sincerely that this is not another 2008 event. Anyone that bought precious metals as a way of protecting against SHTF might be finding out whether they backed the right horse soon.
My amateur guess would be a sharp drop for a short while and then a spike. But really, no-one knows.
Oz shares up. A flood of money out to any refuge.
Bank holiday in USA.
For us in aus, I would expect pm prices to increase.
Now known as the USAA+
So you are expecting the AUD to drop further?
Standard & Poor's has reportedly backed off a plan to strip the U.S
WASHINGTON (MarketWatch) Standard & Poor's has reportedly backed off a plan to strip the U.S government of its prized triple-A debt rating Friday after White House officials challenged the analysis and said the credit rater was "trillions" off in its analysis.
According to multiple reports, McGraw-Hill MHP -0.87% unit S&P told the government Friday afternoon of an imminent downgrade. But officials told the agency it was "trillions of dollars" off in its analysis, in part because of the complicated "baselines" that are used to compare long-term government spending and revenue projections, according to reports.
Yes, although I really do not know. I see either PM prices increasing faster than the AUD, or the AUD falling faster than PM prices, or the AUD falling and PM rising.
2 hours later... same website.
I honestly have no idea!
Same, however my suspicion is the AUD will drop further with more turmoil.
Hypothetically speaking, so if you had $3k US, would you convert it to CAD, buy Gold, buy Silver or keep it USD? Over the weekend before markets open.
I converted most of my holdings into AUD just earlier today, not gonna risk it.
If AUD tanks, so be it. I'm 70:30 on USD tanking.
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