Is platinum a canary in the coal mine for the rest of the PMs?
MsMorrisine
Posts: 33,079 ✭✭✭✭✭
MsMorrisine
Posts: 33,079 ✭✭✭✭✭
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Debt is the canary in the coal mine for all of PMs.
In 1998, Wall Street bailed out a hedge fund called Long-Term Capital Management to prevent a meltdown of the global financial system. In 2008, the world’s central banks bailed out Wall Street. What’s going to happen when central banks need to be bailed out?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
It may be a canary in the coal mine for industrial production, but typically it doesn't correlate that much with gold. If there's a liquidity crisis or if the debt crisis comes to a head, all physical assets should gain.
I knew it would happen.
I will stick with gold...and U.S. gold coins.... Oh sure, some silver as well, but mainly gold. Cheers, RickO
Exaggeration and hyperbole are the canary for PMs....and all other assets. The more extreme the claim, the quicker the feathers fall off the bird. Sure would be nice to hear of the death of silver.
Knowledge is the enemy of fear
Stamp collectors are the canaries. Rare coin collectors the pigeons. Don’t worry. Bullion hoarders are the cockroaches.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.