If near insolvency of the US government didn't jack the price of silver and gold, what will?

BigE

With the dollar falling, and this recent ceiling debacle "solved"lol, can we really expect to see 1700 in the next 12 mos?--------BigE

mingot

broke my crystal ball so i cant help

BigE

Meant to post on precious metals, oh well------------BigE

llafoe

China becoming the Hunt Brothers of the 21st Century.

jmski52

BigE, are you saying that the US government is solvent now? Being a simple man, I must ask the question.

MercCrazy

If they can formulate a long-term plan to create and maintain a budget surplus and eradicate the national debt...

But I have about as much faith in that happening as I do of winning the powerball.

llafoe

<< <i>If they can formulate a long-term plan to create and maintain a budget surplus and eradicate the national debt...

But I have about as much faith in that happening as I do of winning the powerball. >>



I have confidence I can win the powerball... it's the other 5 numbers I lack confidence in!

BigE

<< <i>BigE, are you saying that the US government is solvent now? Being a simple man, I must ask the question. >>




No, but couldn't find a better word to use than "insolvency", what would a better word be Jerry?--------BigE

DuCrozat

Remember the definition of insanity?

As per Einstein

It fits.

Coinosaurus

I was today thinking about the irony that our credit rating will go down unless we borrow more money. How whacked is that?

llafoe

<< <i>I was today thinking about the irony that our credit rating will go down unless we borrow more money. How whacked is that? >>



Cancel a credit line or a credit card and watch your credit rating decrease!

Wolf359

<< <i>I was today thinking about the irony that our credit rating will go down unless we borrow more money. How whacked is that? >>



The World is backwards.

derryb

near insolvency is not new. It has been around for quite a while and is priced into most markets that are not "under the influence" of governemnt interference.

rawteam1

<< <i>China becoming the Hunt Brothers of the 21st Century. >>



without leverage...

GrumpyEd

I think the insolvency is already priced in and got it to where it is now, along the same lines that $1700 isn't far off.
After getting that new trillion dollar credit card, the stocks may shoot up and gold could dip but that's only a short term reaction.

Long term the same spending will continue. Any savings or debt reduction is based on expected tax revenue. Last time the expected "surplus" never showed up, the weak economy reduced revenue and "emergency" spending used more money.

They tell the individuals to save for emergencies but the government budgets for only "happy days".

stevek

<<< If near insolvency of the US government didn't jack the price of silver and gold, what will? >>>

Sure seems to me like siver and gold have already been "jacked up"...and if the government doesn't do something effective about the problem of excess spending and printing money to pay for it which devalues the currency, then silver and gold prices will rise even higher...it's that simple, and that complicated.

ricko

If a credit rating downgrade occurs (still very likely), gold will continue to rise. That is just one of many factors. Cheers, RickO

ambro51

I think the price of gold will skyrocket once China officially annexes the USA. They already 'own' us financially.

BBN

<< <i> If near insolvency of the US government didn't jack the price of silver and gold, what will?
>>



with an increase in 21% over the last 6 months and 37% over the last 12 mos I don't know what else you could say. The price has been jacked. Gains like this isn't the norm for any investment and this will not continue at this pace all the time, but will as long as Washington doesn't get its head out of its butt. Then again, the voters are the ones who send these people.

jmski52

No, but couldn't find a better word to use than "insolvency", what would a better word be Jerry?--------BigE

I was trying to be witty, but fell short (as often happens with me). But it is still pretty weird how the government can bestow more debt on itself and thus become solvent when they are technically bankrupt.

I do think that most people are going to start learning what fiat currency is all about, in the not-too-distant future.

BigE

I am beginning to think our government knows its a given that all fiat currencies/countries eventually fail. Its most important to string along the charade as long as possible. Just like a mighty Tree, it grows big and strong, but eventually falls and the cycle is repeated. ---------------BigE

BAJJERFAN

<< <i> If near insolvency of the US government didn't jack the price of silver and gold, what will? >>



Perhaps they could buy up large quantities and dump it in the ocean!!!!