Interesting/entertaining interview regarding Eurozone economic situation

[jim4silver]

I think long term this is PM positive, short term it might not be if it causes the dollar to go up. But since I invest in PMs for long term insurance, I am not worried.

http://www.huffingtonpost.com/2011/...s-goldman-sachs-rules-the-world_n_981658.html

Jim

 

Amazon Forum Fav 👍

Family Maps of Hinds County, Mississippi, Deluxe Edition - Grab it through Amazon!

[mts]

I agree with him that we are probably headed for another down market. I'm usually not such a pessimist and believe that people like this guy just make money off of selling fear. But in this case I think he is speaking the truth and that we have a 50-50 chance of seeing a crash similar to 2008. Short term it will be bad for PM's, but good for folks like you and me that are ready to buy. Long term I am still bullish on silver. But I'm looking out 20-40 years for the really big returns on current purchases. I wouldn't be surprised at all to see silver languish over the next few years as the economic roller coaster chugs along.

Thanks for the link!

 

[jim4silver]

I agree with him that we are probably headed for another down market. I'm usually not such a pessimist and believe that people like this guy just make money off of selling fear. But in this case I think he is speaking the truth and that we have a 50-50 chance of seeing a crash similar to 2008. Short term it will be bad for PM's, but good for folks like you and me that are ready to buy. Long term I am still bullish on silver. But I'm looking out 20-40 years for the really big returns on current purchases. I wouldn't be surprised at all to see silver languish over the next few years as the economic roller coaster chugs along.

Thanks for the link!

MTS,

From what I have been reading it seems very likely bad things are coming to the Eurozone via defaults, etc. It seems Greece is a foregone conclusion and now they are worried some of the larger countries will have to break away.

I would imagine they will come up with some type of "plan" that is intended to add liquidity, but that will probably only be a temporary fix to the problem. Any announcement of an approved plan that adds liquidity will pump up PMs at least short term.

If they throw in the towel and do nothing probably everything will drop except US dollar type assets. BUT, if there is great uncertainty gold should benefit from that. When all the Greece problems began a year or so ago I remember hearing how people there were buying gold like crazy and taking cash out of the banks.

I think the next year will have many opportunities for quick returns either going long or short various trading platforms, ie the dow, S & P, silver, ETFs, etc. I got in on some AGQ call options last Fri when silver was below 30 and hope to make some $$$ on them if silver goes back up. Any cash I make trading paper assets will go into physical. I won't be buying silver though until/unless we get to 23 or less and if the premiums are not too bad. I don't want to go all in on physical silver yet because of these crazy corrections. I am still bullish long term platinum, which right now is way below its cost of production. If it stays that low I wonder how it will affect the platinum miner companies?

Jim