Deleted
CaptHenway
Posts: 31,957 ✭✭✭✭✭
If the government shuts down again (like it did in the mid-1990's), what will be the effect on precious metals?
Please keep your political views to yourself. The question on the floor is, if the government shuts down, will PM's go up or down?
Edited to add:
Deleted due to political screeds.
Please keep your political views to yourself. The question on the floor is, if the government shuts down, will PM's go up or down?
Edited to add:
Deleted due to political screeds.
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.
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Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Liberty: Parent of Science & Industry
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
Someday, I think the math will get real and the results will be real, but I can't predict when that might be.
I knew it would happen.
bob
<< <i>The question on the floor is, if the government shuts down, will PM's go up or down? >>
Yes, PM's will go up or down if the government shuts down.
<< <i>
<< <i>The question on the floor is, if the government shuts down, will PM's go up or down? >>
Yes, PM's will go up or down if the government shuts down. >>
Now that is the only logical answer
<< <i>Oooops, like won't happen as the House just voted to fund the Gob't.
bob >>
No they didn't ...they passed something that the Senate will not accept. Still a stalemate.
WASHINGTON -- Ignoring the wishes of the White House and the Senate, the House of Representatives passed a stopgap funding bill Friday that will shut down the government unless Democrats agree to defund President Barack Obama's marquee health care law.
Further problems in the Middle East are a bigger wildcard.
<< <i>
<< <i>Oooops, like won't happen as the House just voted to fund the Gob't.
bob >>
No they didn't ...they passed something that the Senate will not accept. Still a stalemate.
WASHINGTON -- Ignoring the wishes of the White House and the Senate, the House of Representatives passed a stopgap funding bill Friday that will shut down the government unless Democrats agree to defund President Barack Obama's marquee health care law. >>
Agreed. What passed today will not stand. The question is, will anything viable replace it?
<< <i>
<< <i>
<< <i>Oooops, like won't happen as the House just voted to fund the Gob't.
bob >>
No they didn't ...they passed something that the Senate will not accept. Still a stalemate.
WASHINGTON -- Ignoring the wishes of the White House and the Senate, the House of Representatives passed a stopgap funding bill Friday that will shut down the government unless Democrats agree to defund President Barack Obama's marquee health care law. >>
Agreed. What passed today will not stand. The question is, will anything viable replace it? >>
Oooops, now we're getting into politics, 'eh capt?
bob
<< <i>
<< <i>
<< <i>The question on the floor is, if the government shuts down, will PM's go up or down? >>
Yes, PM's will go up or down if the government shuts down. >>
Now that is the only logical answer
Suppose they just stay the same?
My Adolph A. Weinman signature
This is a misrepresentation of the facts, typical of the msm. If the House passes piecemeal legislation to fund various parts of the government, the Senate or the President will be the ones to "shut down the government". That's the way the legislative process was designed to work, by the way.
The president's marquee health care law was passed to force people to buy a product, under the guise of not being a tax when it was subsequently ruled to be a tax as a condition of it's legality. This should have voided the whole deal, having been misrepresented and voted on under false pretenses, not having been read by anyone prior to the vote, and also having been in clear violation of the rule to give 3 days notice before any vote.
And now to have various groups be granted exclusions after the fact and having various implementation deadlines extended for some, while continuing to target other segments of the population is nothing more than corruption at the highest levels of government.
The scare tactics being used to describe "a government shutdown" are typical of the corruption, and totally misrepresent what is being debated. If various parts of the government function are in fact shut down, the effect on gold prices still depends on what gets shut down, and who decides to shut it down. Whatever gets shut down, it will be entirely political, so the OP question is a moot one.
I knew it would happen.
HE>I
<< <i>
<< <i>
<< <i>
<< <i>Oooops, like won't happen as the House just voted to fund the Gob't.
bob >>
No they didn't ...they passed something that the Senate will not accept. Still a stalemate.
WASHINGTON -- Ignoring the wishes of the White House and the Senate, the House of Representatives passed a stopgap funding bill Friday that will shut down the government unless Democrats agree to defund President Barack Obama's marquee health care law. >>
Agreed. What passed today will not stand. The question is, will anything viable replace it? >>
Oooops, now we're getting into politics, 'eh capt?
bob
When I saw the title of this thread I thought it was impossible to discuss this topic in any depth without getting into politics.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>If the U.S. does default on its debt, will the value of the dollar drop with a corresponding rise in the price of gold, or will both go down? >>
Almost anything bad for the US$ is good for gold - gold is dollar insurance. Like most insurance policies you want it in place before you need it.
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
Knowledge is the enemy of fear
HE>I
HE>I
The current bill before the senate is NOT so much about the debt ceiling, but rather more importantly it is about defunding OBamacare. This health bill is a train wreck. It is a bill directly against Free Enterprise, the basis of our Constitutional Republic.
If the Senate does not defund Obamacare, we will have a loss of confidence and gold should rise.
Call,text,email your Senator, which ever side of the isle you are on. Do it today.
It's true the current Senate and Executive branch have not and will not compromise with those of opposite views. Totalitarian government at its best.
<< <i>Thought we weren't supposed to talk about government or politics and such like things. Has policy changed on this DW? >>
Not sure on policy, but under the OP's question he specifically asks on how the shutdown will affect PM's. Why do people have to get their panties in a bunch, its a legit question.
Capt, I dont think a shut down will last long if it happens at all. Any price movement while shut down will most likely revert back to pre shut down prices. just my guess.
with any luck, jpm will take it sub 1k, atleast i sure hope so!
BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
Just mentioning PM's when the root of the discussion is about the Govt. being shut down makes it ok? I think we've been warned by DW to not talk about Govt issues or politics, no matter if it affects PM's or not...that's why I'm asking has that policy changed since we've been warned, by him, not to.
ok, I'd like to talk about alot of OT things but as long as I ask how it would affect PM's, that's ok now.
HE>I
<< <i>If the government shuts down again (like it did in the mid-1990's), what will be the effect on precious metals?
Please keep your political views to yourself. The question on the floor is, if the government shuts down, will PM's go up or down? >>
POM please learn to read, the OP does a great job stating what kind of answers he is seeking vs the crap he doesnt want to see. I have made it bold in case its hard to see.
BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
Carry on as you wish to, no matter or care from me on the subject.
So , if the government ever is able to manage money in the near or long term (which I doubt), gold will still find a floor. A resting place. And those who are still "flipping" the _ _ _ _ will continue "flipping it on the BST". And the prices won't be affected by anything except the market, and NOT the government.
HE>I
bob
<< <i>Slight drop in metals....what you expected?
bob >>
3-4% drop. If the DOW dropped 450-600, would it be characterized as slight?
Knowledge is the enemy of fear
<< <i>
<< <i>Slight drop in metals....what you expected?
bob >>
3-4% drop. If the DOW dropped 450-600, would it be characterized as slight? >>
10 4 with that assessment.
Posters who predicted a drop....You may keep your crystal ball(s) for another week.
<< <i>Amazing... Government shutdown, the market goes up and PM's go down... what am I missing here?? Help?? Cheers, RickO >>
What you don't understand is the relationship between pricing and expectations. This is why investors buy at highs, sell at lows and are confused during periods of stagnation.
Knowledge is the enemy of fear
<< <i>Almost anything bad for the US$ is good for gold - gold is dollar insurance. Like most insurance policies you want it in place before you need it. >>
Hello?...were you not around in 2008? Deflation bad for ALL assets..Credit drying up... BAD for metals
<< <i>
<< <i>Almost anything bad for the US$ is good for gold - gold is dollar insurance. Like most insurance policies you want it in place before you need it. >>
Hello?...were you not around in 2008? Deflation bad for ALL assets..Credit drying up... BAD for metals >>
Yep, I was around - buying PMs on the dip. Metals, like all asset classes took a hit in the 2009 temporary dash to dollars but faired better than the rest and then saw rapid new highs. If you don't think the dollar is being quickly destroyed, and don't realize PMs to be insurance against dollar destruction, then stack dollars. Do not mistake a huge slow down in money velocity for deflation. Been to the grocery store lately?
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
See my sig. line