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Pershing Gold Corporation Message Board

  • imprvngmyavg imprvngmyavg Sep 5, 2013 11:48 PM Flag

    a perfect Storm is brewing economically

    The U.S. debt ceiling debate will begin in MId-October reminding the world of the seriousness its debt problems, which will put into question the dollars status as a reserve currency add to that the feds upcoming attempt to rein in its bond buying program and interest rates will rise for everyone, the increasing costs of doing business will slow the economy to unprecedented levels meanwhile back at the farm;
    According to a Central Bank survey in China, Chinese banks saw a fall in the demand for loans in the country. The index fell by 6% to 72.5 from the 77.4-mark in the first quarter this year, according to the People’s Bank of China. The central bank of China also surveyed in the second quarter executives and asked them if they believed that the economy was slowing down. There was an increase in the number that thought it was indeed cooling, from 31.9% to 36.4% of the respondents in the survey.

    According to analysts the volatility caused by the US bond market has had repercussions on the emerging markets and the outflows of capital from those markets will continue in the future. But, it is also the lack of liquidity and the excessively high inter-bank lending rates that were experienced in June. The PBOC refused to inject cash as it wanted to control shadow banking at the time and there was an attempt to curb credit growth.
    Meanwhile India is also facing liquidity problems that will tighten credit in that country and strangle its economy as well, Two of Asia's biggest economies are facing serious problems which may bring the Euro debt issues back to the fore. I don't know about you but I'm nervous and will try to go to cash by late September early October so if PGLC goes to .60 or higher I'll take my winnings and wait for better opportunities. which I think will be coming when financial markets become aware of the realities.
    Sincerely yours, chicken little;-)

    Sentiment: Hold

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