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CaptHenwayCaptHenway Posts: 32,155 ✭✭✭✭✭
in Precious Metals
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.
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.

Comments

  • PerryHallPerryHall Posts: 46,140 ✭✭✭✭✭
    What happened to PM's the last time the government closed down? I don't honestly remember. Of course, raising the debt ceiling again will be good for PM prices over time.

    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

  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    UP

    Liberty: Parent of Science & Industry

  • derrybderryb Posts: 36,825 ✭✭✭✭✭
    will not affect PMs unlesss it is a permanent shutdown.

    "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

  • jmski52jmski52 Posts: 22,862 ✭✭✭✭✭
    I really don't remember any lasting impacts from a shutdown in the mid 1990's, so I'm inclined to believe that all of this chatter about finance is only for show.

    Someday, I think the math will get real and the results will be real, but I can't predict when that might be.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • drwstr123drwstr123 Posts: 7,038 ✭✭✭✭✭
    I don't see much problem unless the Federal Reserve shuts also.
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    No biggie, the gov't shuts down for two days every week.
  • AUandAGAUandAG Posts: 24,764 ✭✭✭✭✭
    Oooops, like won't happen as the House just voted to fund the Gob't.

    bob
    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • johnny9434johnny9434 Posts: 28,335 ✭✭✭✭✭
    if they do we might be safe for a little while.
  • chumleychumley Posts: 2,305 ✭✭✭✭
    when all the dust settles on budgets,interest rates,stock market etc the price of gold will be $1450 and silver will be $25 by the end of 2013.....these predictions self destruct after a week dont they? image
  • mrpaseomrpaseo Posts: 4,753 ✭✭✭


    << <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.
  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <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 answerimage
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <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.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • VanHalenVanHalen Posts: 3,993 ✭✭✭✭✭
    A brief shutdown of less than one week will result in a 5% temporary bump in PMs. A shutdown of a month or more will send PMs much higher. Up 10% at least.

    Further problems in the Middle East are a bigger wildcard.

    image
  • CaptHenwayCaptHenway Posts: 32,155 ✭✭✭✭✭


    << <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?
    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.
  • AUandAGAUandAG Posts: 24,764 ✭✭✭✭✭


    << <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?

    bobimage
    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • OverdateOverdate Posts: 7,008 ✭✭✭✭✭


    << <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 answerimage >>


    Suppose they just stay the same? image

    My Adolph A. Weinman signature :)

  • jmski52jmski52 Posts: 22,862 ✭✭✭✭✭
    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.

    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.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,294 ✭✭✭✭✭
    If the government shuts down, do politicians shut up ? That would be cause for celebration. Gold wouldn't be needed. We would need beer.
  • PerryHallPerryHall Posts: 46,140 ✭✭✭✭✭


    << <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?

    bobimage >>



    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

  • CaptHenwayCaptHenway Posts: 32,155 ✭✭✭✭✭
    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?
    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.
  • derrybderryb Posts: 36,825 ✭✭✭✭✭


    << <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.

    "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

  • cohodkcohodk Posts: 19,138 ✭✭✭✭✭
    The US will not default on it s debt and I welcome a Govt shutdown.image
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,294 ✭✭✭✭✭
    We will not shut down. Gold will be dug up like it always is.
  • s4nys4ny Posts: 1,569 ✭✭✭
    No effect on gold or silver if the US Govt shuts down.

  • rickoricko Posts: 98,724 ✭✭✭✭✭
    No major impact on gold unless the dollar crashes..... Cheers, RickO
  • bretts911bretts911 Posts: 764 ✭✭✭
    bump its coming up
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,294 ✭✭✭✭✭
    We don't have anything to worry about. We can raise the debt ceiling. image
  • KUCHKUCH Posts: 1,186
    Remember, the final gold rally will be a result of no confidence. If the government shuts down will the people have less confidence in government?

    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.

  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Thought we weren't supposed to talk about government or politics and such like things. Has policy changed on this DW?
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • OperationButterOperationButter Posts: 1,672 ✭✭✭


    << <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! image
    Gold is for savings. Fiat is for transactions.



    BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    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

    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. image (it's not that hard to see the point on this one I don't think)
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    image
    Avid collector of GSA's.
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,294 ✭✭✭✭✭
    Who's polluting the thread with B>S and inferences to rules ? Let's discuss gold, children. Polarized people need to remove themselves.
  • OperationButterOperationButter Posts: 1,672 ✭✭✭


    << <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.

    image
    Gold is for savings. Fiat is for transactions.



    BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    I am really starting to question my own logic in why I bother any more here when something is black & white but because I am the one pointing out that it is black & white, people want to make it gray.

    Carry on as you wish to, no matter or care from me on the subject.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • DrBusterDrBuster Posts: 5,381 ✭✭✭✭✭
    Stop needling ladies.
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,294 ✭✭✭✭✭
    I've attempted hundreds of numismatic threads over the years that got "trashed" with _ _ _ _. Poofed for reasons unbeknownst. I know who participated in the threads before they got "deleted". I sure don't know WHO was the catalyst for muckin' them up. It was always MY attempt to discuss the TOPIC, at hand.

    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.
  • AUandAGAUandAG Posts: 24,764 ✭✭✭✭✭
    Slight drop in metals....what you expected?

    bob
    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • cohodkcohodk Posts: 19,138 ✭✭✭✭✭


    << <i>Slight drop in metals....what you expected?

    bob >>




    3-4% drop. If the DOW dropped 450-600, would it be characterized as slight?
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <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. image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Amazing... Government shutdown, the market goes up and PM's go down... what am I missing here?? Help?? Cheers, RickO
  • cohodkcohodk Posts: 19,138 ✭✭✭✭✭


    << <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.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • bluelobsterbluelobster Posts: 1,220 ✭✭✭


    << <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
  • derrybderryb Posts: 36,825 ✭✭✭✭✭


    << <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?

    "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

  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Amazing... Government shutdown, the market goes up and PM's go down... what am I missing here?? Help?? Cheers, RickO

    See my sig. line image
    To forgive is to free a prisoner, and to discover that prisoner was you.
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