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Re: Greek Vote Threatens Bailout

By: capt_nemo in ROUND | Recommend this post (0)
Tue, 01 Nov 11 5:57 PM | 36 view(s)
Boardmark this board | De's Test Board 		Msg. 36008 of 45651
(This msg. is a reply to 36005 by Decomposed)
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I think it's called GLOBAL meltdown DE. Everyone is gunshy today........on investing in anything. Trust is getting to be a lost word /theory.




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Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.




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The above is a reply to the following message:
Greek Vote Threatens Bailout
By: Decomposed in ROUND
Tue, 01 Nov 11 5:41 PM 		Msg. 36005 of 45651

Gold is down $33 due to concern for the euro, and, on a percentage basis, crude is down twice that.

Oil's fall makes sense. Demand for oil is closely tied to the level of economic activity, and Europe is in a world of trouble. But why is gold down? I can understand Europeans fleeing from euros and buying dollars. But, logically, shouldn't they be buying gold too?

Gold is currently $1,693/oz. I have trouble sounding sincere in calling that a "bargain" - given that it was so much cheaper just couple of years ago. But I do think that the dollar is a ridiculous alternative to euros. Fiat money has failed over and over. The euro failed, so the stupid Europeans are fleeing *only* to the dollar?? Unbelievable.


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