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Silver Wheaton Corp. Message Board

  • yourdeadmeat69 yourdeadmeat69 Dec 21, 2012 7:37 AM Flag

    Flight to Dollar Shows Europe Has No Clue

    Most stories about fiscal cliff shutdown point overseas, to February and March as times when the debt ceiling really needs to be dealt with, and a package to handle both has to be made.

    They've no clue as to what gridlock this past four years means in this country, which is good because panic is the last thing poor savers and 401K'ers need.

    The problem is, will funds dump anticipating higher taxes, leaving winners and holding losers for next year. That turns the market on its ear.

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    • Actually, the main reason for the flight to the dollar is there isn't a lot of alternatives. Sure there are stronger currencies, the Loonie, and the Aussie dollar are the two that are most often touted. But there isn't any other currency that allows the overnight movement in and out of without totally overwheming the markets. Gold and Silver are obvious scale into assets, but a panic will no allow the big money instos to participate, so they nibble rather than lunch on the pms.
      One thing the markets and government have proved these last four years is never underestimate the strength of smoke and mirrors.

      • 1 Reply to rusty_98070
      • Rusty, they actually think we are like them, and can push the can down the road in similar fashion. The market is so huge, the can leaves more skidmarks than a poodle on pate de fois gras.

        I see another downgrade after the fact by Moody's that will bring us only more grief. In the meantime, the prospect of Bernookie having to print more money without trading in short term for long term bonds (he's out of bullets) has escaped everyone except a few on this board.

        I wait for lower prices and turnaround to scale back in. My knife catching days are over.

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