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Euro devaluation

derrybderryb Posts: 36,792 ✭✭✭✭✭
in Precious Metals
Look for a massive, BIS led euro devaluation this week as a result of the ECB's no-collateral 600B euro loan to member nations in its rececent bailout. Banks have been notified to expect a large change in currency rates. This should provide a nice short term rally in PMs. Monday evening PM action in asia should provide indication if fear does in fact take hold.

"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

Comments

  • bronco2078bronco2078 Posts: 10,212 ✭✭✭✭✭


    I have been watching some coins priced in euro's on ebay and they have been getting more affordable in dollars . I was getting ready to hit one seller hard this week . If you think a big drop is coming maybe I will wait a bit to pull the trigger.




  • golfer72golfer72 Posts: 3,588


    << <i>Look for a massive, BIS led euro devaluation this week as a result of the ECB's no-collateral 600B euro loan to member nations in its rececent bailout. Banks have been notified to expect a large change in currency rates. This should provide a nice short term rally in PMs. Monday evening PM action in asia should provide indication if fear does in fact take hold. >>

    Wouldnt that cause the dollar to rally and PM's to drop? image
  • BigRickBigRick Posts: 1,334
    Yes. Exactly. Commodity bearish is my take away.
    My Sets
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    This should be interesting... we only have hours to wait... Personally, I am a bit conflicted as to the effects of a Euro devaluation... seems it could go either way. Whichever way transpires, I will be interested in the 'post mortem' reasoning... Cheers, RickO
  • derrybderryb Posts: 36,792 ✭✭✭✭✭


    << <i>Yes. Exactly. Commodity bearish is my take away. >>


    assuming everyone dumps euros for dollars. What if rising fear of fiat paper drives them to gold? A wise investor should realize currency is only paper. The only safe play with dollars has to be short term because it's next!

    "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

  • SpoolySpooly Posts: 2,108 ✭✭✭
    I don't see any news about this?


    Links please?

    Si vis pacem, para bellum

    In God We Trust.... all others pay in Gold and Silver!
  • derrybderryb Posts: 36,792 ✭✭✭✭✭


    << <i>I don't see any news about this? Links please? >>



    You don't watch CNBC? image

    Roger Weigand email to David Morgan

    "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

  • streeterstreeter Posts: 4,312 ✭✭✭✭✭
    I think there is one heck of a liquidity crises going on right now.

    That funny money that pushed up commodities is now retracing and paying bills, IMHO.

    Now that I said that , watch gold hit 2200.image
    Have a nice day
  • jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
    Or another solvency crisis.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • CaptHenwayCaptHenway Posts: 32,115 ✭✭✭✭✭
    Early ASian markets quiet.
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    Non event.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • jdimmickjdimmick Posts: 9,674 ✭✭✭✭✭
    If this did occur, I dont think PM's will get a boost, if anything It will propell the $ . Regardless of what people say, and how bad the US economy is and so forth, when it comes down to the nitty gritty, Foreigners want US $
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Tonight is almost like a Sunday night. Most market players were away today (US, UK, Canada, Australia). Tomorrow the UK, Canada, and Australia are still on holiday.
    Options/futures expiry days for gold is tomorrow and Wednesday. May see some attempts to push the market down with so many people away. Wednesday will be the day
    that counts.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭
    I could argue both sides of this.

    Thin trading this week. I guess this as a non event. MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 3,359 ✭✭✭✭✭
    Gold and Silver both down about 1%.
    NO END IN SIGHT LIB $2.50'S CAC ONLY
    https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    I still think it will prove to be an interesting week.... but, I have been wrong lately (predicted $2K gold by year's end)... so, just watching. Cheers, RickO
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