Will Debt Ceiling Resolution Lead to PM's Plunge?

[beauanderos]

http://www.huffingtonpost.com/2011/07/2 ... 1%7C220604

At the opening, prices dropped, but now are making a slow recovery. What happens tomorrow?

[theo]

They will probably decrease, but only temporarily. Anybody who truly understands the numbers knows they are re-arranging deck chairs on the Titanic

[68Camaro]

Markers like that are signs of the shorts doing their damage in a limited overnight Asian market, using this crisis as a reason to act (very much like the end of April sell-off). If they drive it down enough I'll be jumping on it, refreshing some of my PSLV, CEF, and/or PHYS, as best makes sense, depending on what they do.

[68Camaro]

And too early to tell the evening trend for certain, but it looks like they may have already failed in their ability to kill the price. Seem to have bottomed and started edging up.

[beauanderos]

And too early to tell the evening trend for certain, but it looks like they may have already failed in their ability to kill the price. Seem to have bottomed and started edging up.

I suppose I'd rather accept a temporary precious metals sell-off, it the upshot is business as usual, than the possibility of a chaotic market-wide equities crash such as 2008. Much more preferable than PM's launching a moonshot while the world crumbles around us.

[neilgin1]

no.

nothings changed, except maybe our nations credit rating in the next few days, and that will mean gold, silver higher.

[neilgin1]

Much more preferable than PM's launching a moonshot while the world crumbles around us.

the world is crumbling around us BUT.....http://www.youtube.com/watch?v=Z0GFRcFm-aY..... i feel fine"......."earthquakes, birds and snakes and airplanes".........

[Thogey]

Debt resolution?

That means what? Running up more debt? Please help me understand what resolution means.

In my mind the math says we are f'ed

[neilgin1]

Debt resolution?

That means what? Running up more debt? Please help me understand what resolution means.

In my mind the math says we are f'ed

that means you got more prep time shipmate.......so lets use it to our profit, you know what to do.

[Mossy]

The longer it takes, the deeper the crash.

[Country]

The resolution may not happen. It's all smoke and mirrors until it is passed by the House and the Senate. How many times has it happened already that when the House and Senate leaders were upbeat only to find they did not have the votes to pass their resolutions? Democratic Senators may not go along with Obama's deal this time...

[Treetop]

The longer it takes, the deeper the crash.

yes.... and faster as well. Less time to adapt for MOST.... many of us have had years....

[neilgin1]

The resolution may not happen. It's all smoke and mirrors until it is passed by the House and the Senate. How many times has it happened already that when the House and Senate leaders were upbeat only to find they did not have the votes to pass their resolutions? Democratic Senators may not go along with Obama's deal this time...

they'd be fools, because they'd lose the White House. If they pass the deal, up the debt limit till past Nov of 2012, the President wins the election, if we do this again next year, BEFORE the election, he loses. the Republicans dont have a show pony for 2012, especially if you get a nasty black swan event in 12, like a Mumbai attack, or something like that.

in my opinion, anything to buy us more time, ramp up preps, i'm sorry to say, It might sound selfish, but the ship is sinking, and the damage control party is on the f###ing foredeck sipping margaritas, so........

[neilgin1]

The longer it takes, the deeper the crash.

yes.... and faster as well. Less time to adapt for MOST.... many of us have had years....

granted, we have metals, but we need more things to weather the storm. amen?

[Treetop]

The longer it takes, the deeper the crash.

yes.... and faster as well. Less time to adapt for MOST.... many of us have had years....

granted, we have metals, but we need more things to weather the storm. amen?

Well Im sure we could say the same forever. theres always one more thing isnt there???

Ive got much more then metals myself.

Looking system wide though id much much prefer the rest of america wake up to the reality. I feel if we face it sooner rather then later that every single day sooner is an extra day for 250million plus who are not ready for such things. if we do it now wed be able to direct our landing somewhat, all the while many millions would know they need to change course. If that doesnt happen before a dollar crash for instance how many millions will it be that would of had atleast some preps but as of now have nothing????

Perhaps we could have a homestead act, and turn a few million americans into producers before we end up selling off those government lands to cover debts.... A boy can dream anyway....

[scrapper2010]

Dont want to sound like mr. optimism here but it seems like there may be some pretty deep spending cuts included with no new revenues.

[68Camaro]

Dont want to sound like mr. optimism here but it seems like there may be some pretty deep spending cuts included with no new revenues.

Dude - these are no "cuts"! These are only reductions in the planned rate of increases!!! (I had to delete the adjectives I originally threw in here before I hit submit.)

[68Camaro]

Leader agreement announced. Details out, but I've not seen them yet. Silver and Gold are already falling, which could mean a great day to buy tomorrow. Yippee!

[hobo finds]

metals lower stock market higher...

[Thogey]

Debt resolution?

That means what? Running up more debt? Please help me understand what resolution means.

In my mind the math says we are f'ed

that means you got more prep time shipmate.......so lets use it to our profit, you know what to do.

Bully!

[neilgin1]

Thog, i was right in saying "shipmate", right?...or were you Air Farce....ooops, sorry, i mean Air Force? (snicker)...to me there's only one real service...USN...and if you read this 68, i'm pissed as all get out that the AF has taken over SpaceCom..THATS BELONGS TO THE NAVY!!!! ..uh, "space SHIP"....."space VESSEL"? sure sounds Naval to me.....i'll make ya'll a gentleman's bet right now....by close tommorow, silver closes higher. bet?

[68Camaro]

Not taking that bet. Just hoping it opens a lot lower so I can buy. I'm fine if it closes higher after that.

[68Camaro]

and if you read this 68, i'm pissed as all get out that the AF has taken over SpaceCom..THATS BELONGS TO THE NAVY!!!! ..uh, "space SHIP"....."space VESSEL"? sure sounds Naval to me

In all the sci-fi books of my youth the fighting space was always Navy....

[Thogey]

Thog, i was right in saying "shipmate", right?...or were you Air Farce....ooops, sorry, i mean Air Force? (snicker)...to me there's only one real service...USN...and if you read this 68, i'm pissed as all get out that the AF has taken over SpaceCom..THATS BELONGS TO THE NAVY!!!! ..uh, "space SHIP"....."space VESSEL"? sure sounds Naval to me.....i'll make ya'll a gentleman's bet right now....by close tommorow, silver closes higher. bet?

I was an AF officer, SAC, space command, etc (MMIII combat crew).

I'll do a buck. silver will close below 39.5, close of NY business tomorrow.

"Shipmate" is cool, keep it up friend.

[neilgin1]

Thog, i was right in saying "shipmate", right?...or were you Air Farce....ooops, sorry, i mean Air Force? (snicker)...to me there's only one real service...USN...and if you read this 68, i'm pissed as all get out that the AF has taken over SpaceCom..THATS BELONGS TO THE NAVY!!!! ..uh, "space SHIP"....."space VESSEL"? sure sounds Naval to me.....i'll make ya'll a gentleman's bet right now....by close tommorow, silver closes higher. bet?

I was an AF officer, SAC, space command (MMIII combat crew).

I'll do a buck. silver will close below 39.5, close of NY business tomorrow.

"Shipmate" is cool, keep it up friend.

oh frick! i forgot that!!!! so forgive my "air farce' foot in mouth....i remember when you told me you served as an MMIII officer, coz i have the HIGHEST respect for any man given such a mind blowing awesome load of national defense responsibility...you know Thog, as a writer, one thats conversant in NatDef policy, if i was ever to talk with you, my onus would not be on hardware, but what you felt, what was always present in your mind and soul...what you dreamt about. etc...THAT aspect to me, is the most important....did we ever talk about Able Archer 83, when your Soviet counterpart overrode TWICE his EW sys, coz he thought it was a false pos...and he was right, the sat's got solar flared, and this brave man, adverted a very nasty situation...anyway....i'll stick with shipmate, sir, neil...ps, thanks for your service.

oh yeh...a buck, silver close at 40.50 plus....