Posted on 11/04/2010 5:39:37 AM PDT by spokeshave
Gold just his $1,371 and silver $25.56....By-by dollar.
That’s gonna cost ya.
It’s also “bye-bye”. :-)
Bye-bye Grandma and Grandpa, too. What they are doing to savers and fixed income folks is just sick. What’s nice, I guess, is at least a lot more people are on to their scam - it’s entertaining to watch the goons on the idiot box defend the indefensible.
Thank you Ben Bernanke. This is a direct response to his announcement yesterday.
When the music stops on this little game of musical chairs I sincerely hope that Bernanke finds himself running for his life just barely ahead of a pack of baying hounds.
Prices are up across the board this morning. Metals, oils, grains, meats, and bonds are all up.
And the dollar is down.
This could be a major rollercoaster ride.
Hang on.
Last time I checked Gold had to be converted to $$$ to spend
Gold dove down to 1325 yesterday....lots of volatility
Some people prefer to save, thus gold. (wishcast alert) I sold last Friday assuming there would be a temporary double top (/wishcast alert) But there’s not a shred of a doubt that PM’s will keep rising (after a pause or not) until interest rates hit 10% or perhaps more.
$1376.30 right now...
Any weakness in gold is just traders selling out positions to cover losses/margin calls elsewhere..
Last time I checked Gold had to be converted to $$$ to spend
*****************************************************
Well then ,, do yourself a favor and convert it to Canadian or Australian $$$ ...
$1378....up $41 an ounce and climbing....
Deflation has been the bigger threat...that is the premise anyway and I happen to agree with it. So, purchasing the bonds will inject cash into the economy...theoretically spurring economic activity...should work. As long as they do not put too much cash into the economy...and cause inflation.
It is a good time to buy commodities, including food...and farm land if you like hard assets. Gold, and even better, silver in your hand is like gold and silver in your hand...very solid right now.
This isn’t necessarily doom and gloom guys...make some money and smile.
We will never see rates at “10 per cent or more”, for that would blow out the interest payments alone on the debt to around a trillion dollars annually. It’s akin to the government having rolled over their entire balance sheet onto a 0 percent credit card.
Thank you Ben Bernanke. This is a direct response to his announcement yesterday.””
Your blame is somewhat misguided. Ben is doing what he is told to do by BO and his backers. Gov’t debt, govt policy and wild spending are forcing the issue on the fed and all of us.
Last time I checked Gold had to be converted to $$$ to spend.
“We will never see rates at “10 per cent or more”, for that would blow out the interest payments alone on the debt to around a trillion dollars annually. It’s akin to the government having rolled over their entire balance sheet onto a 0 percent credit card.”
You just nailed the entire reason the fed is in trouble. They need higher prices but that would also hurt them, too. Stupid fed. It is an unconcstitutional enterprise that never should have existed.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.