I wonder if this is PM positive?

[jim4silver]

Saw this headline on Drudge today. Looks like other countries are going to print money to try and prevent the financial breakdown that many predict will happen.

http://www.telegraph.co.uk/finance/...in-history-Bank-of-England-Governor-says.html

I predict there will be another round of QE here (I guess it will be QE3?) if/when Greece officially defaults. Even though everyone says they will default, I believe once it actually happens it will cause our stock market to take a hit as a result. From what I have been hearing on the financial channels it seems even the regular "everything is gonna be OK" pundit cheerleaders believe a Greek default is inevitable. This could be the perfect excuse for further QE here to help prop up the stock market, like it did after the 2008 crash. They say some of the big banks here have much exposure to the European crisis. I wonder if the gov here will try to save the big banks again or let them go under?

Should be an interesting fall/winter with all this stuff going on in Europe.

All just my opinion.

Jim

 

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[FreedomUIC]

As always Jim, very informative post. I to, am waiting to see what the fall/winter brings. Right now I am enjoy the low prices
of silver (Stockpiling). I am waiting to get gold here shortly....

 

[mts]

I think it is PM positive. However, I'm not sure that it is positive enough to offset the effects of a potential downturn in the market (especially for silver). You probably have a better idea than I do but I would guess that silver prices are based 75% on industrial factors and 25% on store of value factors. But if you told me it was 50/50 or even 25/75 instead I would believe you. Of course, gold is a different story. I definitely think this article is PM positive for gold.

I've recently been reading an interesting free eBook called "The Mystery of Banking " by Rothbard. I'm only about half way through but it has been very informational. It's all about how the central banks work (like the Fed and the Bank of England). You have to take some of it with a grain of salt because the author is clearly on the side of railing against fiat currencies. But all of what he says appears to be factual (albeit, slightly misleading at times). The article you cited makes more sense to me now that I've read some of this book. It's worth what I paid for it (free) and has stimulated my desire to learn more about how banking works.

 

[Marchas45]

Saw this headline on Drudge today. Looks like other countries are going to print money to try and prevent the financial breakdown that many predict will happen.

http://www.telegraph.co.uk/finance/...in-history-Bank-of-England-Governor-says.html

I predict there will be another round of QE here (I guess it will be QE3?) if/when Greece officially defaults. Even though everyone says they will default, I believe once it actually happens it will cause our stock market to take a hit as a result. From what I have been hearing on the financial channels it seems even the regular "everything is gonna be OK" pundit cheerleaders believe a Greek default is inevitable. This could be the perfect excuse for further QE here to help prop up the stock market, like it did after the 2008 crash. They say some of the big banks here have much exposure to the European crisis. I wonder if the gov here will try to save the big banks again or let them go under?

Should be an interesting fall/winter with all this stuff going on in Europe.

All just my opinion.

Jim

Well I had to go and read it Jim to find out what QE meant Good story, I love it when you can just print paper and say it's worth something. Maybe I'll try it myself.

This paragraph really got to me. " Financial experts said the committee’s actions would be a “Titanic” disaster for pensioners, savers and workers approaching retirement. Sir Mervyn suggested that was a price worth paying to save the economy from recession." Yea save the banks.