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It's a "flight to safety" you know....

jmski52jmski52 Posts: 22,829 ✭✭✭✭✭
in Precious Metals
Gold down $15.00 - they are saying that it's a flight to safety into the dollar!image

A guy on CNBC says that crude oil tankers are backed up and that refineries are running at 79% and that crude prices should be $20 lower. If interest rates rise the surplus will increase even more.

Bum day for commodities in general. Just the news.
Q: Are You Printing Money? Bernanke: Not Literally

I knew it would happen.

Comments

  • curlycurly Posts: 2,880 ✭


    Guess I'll just have to go jump off a roof somewhere. image
    Every man is a self made man.
  • rgCoinGuyrgCoinGuy Posts: 7,478 ✭


    << <i>Guess I'll just have to go jump off a roof somewhere. image >>



    image


    So we may get cheaper gas soon?
    imageQuid pro quo. Yes or no?
  • DoubleEagle59DoubleEagle59 Posts: 8,308 ✭✭✭✭✭


    << <i>Gold down $15.00 - they are saying that it's a flight to safety into the dollar!image

    A guy on CNBC says that crude oil tankers are backed up and that refineries are running at 79% and that crude prices should be $20 lower. If interest rates rise the surplus will increase even more.

    Bum day for commodities in general. Just the news. >>



    I do believe that Oil will come down quite a bit.

    I think it's true that there is a huge surplus right now for Oil.

    The only thing keeping oil at its current price is not a shortage or not demand, but Inflation of the US dollar.

    PM's will still keep increasing in price, but I do see a weakening for Oil.
    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • BBNBBN Posts: 3,761 ✭✭✭
    Silver on sale. Sounds good to me.

    Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin

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  • cladkingcladking Posts: 28,649 ✭✭✭✭✭
    There are two huge forces pulling the economy in different directions. This is causing
    the big swings.

    Inflation is going to win because there's a choice and the alternative is unthinkable.
    Tempus fugit.
  • rpwrpw Posts: 235 ✭✭
    Gold down $15.00 - they are saying that it's a flight to safety into the dollar!

    Isn't it generally expected that this (a "flight to safety" dollar bounce) will occur before the ultimate collapse of the dollar.
    imageimage Small Size National Bank Note Type Set $5-$100
  • jmski52jmski52 Posts: 22,829 ✭✭✭✭✭
    Isn't it generally expected that this (a "flight to safety" dollar bounce) will occur before the ultimate collapse of the dollar.

    My OP was somewhat "tongue-in-cheek". The general expectations are still split about 50:50 between deflation and inflation.

    When the credit crisis became public and libor's overnight lending rate went over 4% to properly reflect the true risk in the system, the dollar was seen as a safe haven.

    I view the dollar's status and worth much like Jim Sinclair. I think that the dollar's worth is constantly being manipulated in an attempt to make bad money management decisions by the banks and the federal government to appear as though they were/are good decisions.

    "You can fool some of the people all of the time, and you can fool all of the people some of the time, but you cannot fool all of the people all of the time" - Abraham Lincoln.

    And that is what we are seeing in the financial and pm markets. Just one man's opinion, of course.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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