Reinhardt was Wrong - However....

g7 meets this week - expect a devaluation in the USD.
800bn bill passed

Category:

News & Politics

Tags:

• g7 meeting
• g8 meeting
• china g7
• china g8
• stimulus package
• us economy collapse
• economy collapse

[hugolp]

How would you devalue the US dollar in one day now that is not backed by gold or silver? I mean, you can devalue the dollar by creating inflation, that leds to raising prices, but they are doing that alredy. They are devaluating the dollar and during this year prices will raise heavily. But what kind of event or announcement are you expecting from the G7? Can you clarify?

[stellaconcepts]

China does it... they just come out and stipulate exchange rates. but honestly, I dont think they will overtly stipulate rates... These sorts of meetings have a history of setting monetary policies - i think the us has its back against the wall and needs to devalue their currency... hell - im not saying anything new - im just saying it will be put into motion after g7

[dojufitz]

What percentage of Aussies hold actual physical Silver and Gold?

1% of 1% of the population?

[stellaconcepts]

Its uncommon - no-one I know.

[limitedplay]

How low do you think the dow is going?

[stellaconcepts]

I think the dow will reach new highs in the next 5 years... due to the inflationary crisis america has committed to.

[MyMelancholyDodo]

Django Reinhardt is never wrong!

[mikeybrumbrum]

If we dont produce anythgin, we get "out produced".

All that we presently produce is science and technollogy, and the chinese and indians are catching up fast.

This, along with news that the chinese were setting up oil fields in iran, has screwed up all american toughness in the world.

Britain has gone right into Europe, so we are safe. And the USA ? Well, hopefully, most of their bases across the world wil have to be closed, when they og bust.

I know its bad, but they went nazi, basically.

[johnwik]

bid = 14.11

ask = 14.14

up .44

that's five 1's and five 4's - 1+4=5

coincidence?

:P

[formulaprimer]

I expect people to take profit pretty soon. Remember most of the gold and silver activity is the contracts in the futures market such as comex nearing expiration so the are rolling over their massive short position and buying back the contracts and will be putting massive shorts on the next months contract which will take over as the front month.

[JurkoffJay]

Ever since monday silver has been going up up up up though. Maybe what he was talking about is undergrounded. Not for the plan eyes to see... yes?

[nanaroborovskii]

I'm not so optimistic, but it'll be nice if that happens. I am looking for $1k POG and $15 POS by week end. =)

[Brainman94]

Typo -$14.40  not 414.40

[Brainman94]

And gold $970! Wonder if it will crack $1000 tonight? That would be a psychological barrier too and maybe then attract further interest - and that helps silver too (and $14 would be a bit of a psycho barrier there too - could be $1000 Au and 414.50 Ag tonight?

[nanaroborovskii]

Silver just hit $14 on spot

[ltse]

Did anyone read Ted's latest article "Only One Seller Left?" there now appears to be only one major short seller.