What will happen to Wall St after Storm?

Discussion in 'Markets & Economies' started by errol43, Oct 30, 2012.

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  1. errol43

    errol43 New Member Silver Stacker

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    Will it go up or down? Will it be like Katrina?

    Wall St out of action for two days at least.. What a good time for a bank holiday! :)

    Thoughts and Opinions. Will silver go up or down?

    Regards Errol 43
     
    errol43, Oct 30, 2012
    #1
  2. REDBACK

    REDBACK Well-Known Member Silver Stacker

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    Lets hope 'Wall St' and only 'Wall St' gets washed away with no casualties.
    Here's prayin

    REDBACK
     
    REDBACK, Oct 30, 2012
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  3. phynixbullion

    phynixbullion Member

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    Reports say might be closed for 4 days .regardless it will be interesting
     
    phynixbullion, Oct 30, 2012
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  4. phynixbullion

    phynixbullion Member

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    + 1
     
    phynixbullion, Oct 30, 2012
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  5. long88

    long88 Member

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    i reckon they moved all of their bullion from the ny fed to some other unknown location...
     
    long88, Oct 30, 2012
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  6. Fykus

    Fykus Member Silver Stacker

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    what bullion? you mean their painted tungsten? :p
     
    Fykus, Oct 30, 2012
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  7. errol43

    errol43 New Member Silver Stacker

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    Hope the gold deposits in the vaults in NY are not stained with mud. How will know the difference between gold and silver. :)

    Regards Errol 43
     
    errol43, Oct 31, 2012
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  8. thatguy

    thatguy Active Member

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    Are markets in NY open tonight? I seem to read that they are, any thoughts on direction. IMHO could be in for a dip
     
    thatguy, Oct 31, 2012
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  9. volrathy

    volrathy Active Member

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    gold and silver will go up
    AUD will go down compared to USD
    American has a big rebuilding costs it will stimulate their economy jobs will be created
    new cars will have to be made
    builders / laborers and associated flow on effect etc this will help their economy
    silver will go up as all these people will have had iphone and touch screens destroyed in the floods i think catalytic converters use silver audio cables etc silver is used alot in industrial processes and technology that people will want to consume immediate effect - silver will increase in price
     
    volrathy, Oct 31, 2012
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  10. Dogmatix

    Dogmatix Active Member

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    ^ Firstly, you're probably right that the market will go up because markets do think like that (stimulate the economy)

    Secondly, how messed up is it when 'destruction' is considered favourable by the market. We live in a backwards world indeed.
     
    Dogmatix, Oct 31, 2012
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  11. silvertongue

    silvertongue Member Silver Stacker

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    Depends on the day
    I think the aftermath of the storms, combined with the presidential election next week, could make November the most interesting month for silver we've seen for a while...
     
    silvertongue, Oct 31, 2012
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  12. thatguy

    thatguy Active Member

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    gold @ 1720 resistance now. Any up on NY open will be meaningful
     
    thatguy, Oct 31, 2012
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  13. iceblue

    iceblue Well-Known Member

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    Yes it will stimulate the economy, but how are they going to pay for it, with more debt?
    The money has run out, stimulate them further into a hole. The only way they can pay for this is more debt.
    A 3 - 4 year clean up operation wont be their economic savior thats for sure.
    Metals wont go anywhere, gold back at $1600 sub by xmas.
     
    iceblue, Oct 31, 2012
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  14. Auspm

    Auspm New Member

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    Peter Schiff covered it very well actually.

    [youtube]http://www.youtube.com/watch?v=dR6ExBQ4ASo[/youtube]

    Any 'stimulus' will be an illusion. The net gain on the cost of repairs will be negative.
     
    Auspm, Oct 31, 2012
    #14
  15. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    bordsilver, Oct 31, 2012
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  16. Dogmatix

    Dogmatix Active Member

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    ^ I really enjoyed that article, thanks for posting bordsilver
     
    Dogmatix, Oct 31, 2012
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  17. grinners

    grinners Active Member Silver Stacker

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    You see it heading $100 lower or more?
     
    grinners, Nov 1, 2012
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  18. iceblue

    iceblue Well-Known Member

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    Dont think it will drop greatly but dont see it breaking out either, not short term.
    $1600 I think it will hover each side, something big needs to happen before it breaks out, its just a question of WHEN.
     
    iceblue, Nov 1, 2012
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  19. Dogmatix

    Dogmatix Active Member

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    Dogmatix, Nov 2, 2012
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  20. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    I love it when others enjoy Bastiat. He shows that the political and bad economic arguments of today were the same 200 years ago (and he writes fairly well as well). Here's a link to a PDF of a lot of his original essays including the one that includes the broken window fallacy.

    http://mises.org/document/6299/The-Bastiat-Collection
     
    bordsilver, Nov 2, 2012
    #20
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