S & P just lowered US debt rating

I am sure you heard of the plunge protection team.....usually about the same time ( early afternoon) the market miraculously starts to rise....this is no coincidence as the federal government is in there buying....if the market sells off and then miracvulously bounces back at around 2PM, you know why!

 

Looks like you were right (in Europe anyway, so far - the U.S. markets have not opened yet).

Markets started falling and the ECB stepped in to pour tons of money into the bond market:

ECB Bond Buying May Reach $1.2 Trillion

http://www.bloomberg.com/news/2011-...illion-in-creeping-union-germany-opposes.html

 

looks like the ECB is following the US lead.....the race to the bottom as its called. This shall be very bullish for gold!

 

Dow lost 634 points.

The S&P 500 lost 6.66%.

Talk about ugly.

Gold gained 4% and a new record and silver went up 2% despite the dollar actually gaining...but not much.

Normally, people flee to the dollar when the markets collapse. Not today. Actually, the dollar gained far less today then it did last Thursday when the DOW fell 'only' 512 points.
Clearly, the faith people have in the greenback as a safe haven is waning (at least for now).

 

and the gold to DOW ratio is down to about 6.5 to 1 well on its way to a 1: 1 ratio eventually

 

its not fun to watch my stocks fall in value

 

yeah same here, hope this is temporary

 

sorry to be the bad news messenger here but I cant see the markets making any new highs anytime soon!

 

Gold above $1,700.

 

and climbing

 

but it seems to be stable now at around 1750 I think

 

perhaps its time to sell?

 

Bernanke just came out and said rates will stay near zero for two more years.

That basically guaranteed that the price will probably not collapse until then - if then.

The events of the past week or 10 days should make gold a stronger 'buy/hold' (imo) and a weaker 'sell' as they have made monetary instability much greater then they were previous.

 

its only a matter of time before gold hits 2,000 and beyond

 

I agree with that:




http://www.goldprice.org/gold-price-history.html

 

some say it will hit 2,000 before the end of the year.......personally whether its this year or half way through next year is irrelevant as I just know that gold is going much higher!

 

they are shills for Wall street S&P also rated the worldwide worthless paper sold as AA rated investments. read this. will make you want to vomit. and Obama passed his window dressing Wall street reform act that did NOTHING.http://www.rollingstone.com/politic...wall-street-crimes-20110817?link=mostpopular3

 

seems S&P is being investigated now.....sort of retaliation for the downgrade LOL. If they need to bully people in order to keep the triple "A" rating then it just goes to show how sicl the US economy really is!

 

I still dont understand how this so called debt rating affects the US.

 

Jonathan Miller: Credit Downgrade for Dummies

http://www.equitynews.info/2011/08/06/jonathanmiller-credit-downgrade-for-dummies/


NOT that I am calling you a 'dummie' in any way...that is just the name of the article.

 

and I say there are many more downgrades to come

 

all I ask is for one more rise in stocks so that I can bail out

 

If you don't mind me asking...you cannot bail out because of pride or because you are not allowed to sell right now?

 

FACTS ABOUT THE US DEBT CEILING

• The debt ceiling has been raised 103 times since 1944

• It has been raised 51 times by Republicans, 52 times by Democrats

• Ronald Reagan increased the debt ceiling by 23 times, followed by Lyndon B Johnson with 13 times, Bill Clinton by 12 times and Jimmy Carter by 9 times

http://www.guardian.co.uk/news/datab...iling-historic

 

Again conservative Big Spender Ronnie holds the record. A typical conservative hypocrite.