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Re: It's also feared the downgrades could trigger fresh market panic, and a new exodus to gold.

By: Decomposed in ROUND | Recommend this post (0)
Tue, 26 Jun 12 6:04 PM | 48 view(s)
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Msg. 42275 of 45510
(This msg. is a reply to 42270 by capt_nemo)
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re: "It's also feared the downgrades could trigger fresh market panic, and a new exodus to gold."

Why should anyone fear "a new exodus to gold"? The money that has gone to gold so far is TRIVIAL. Even at $5,000/oz, it would have a negligible effect on the world except, perhaps, in its impact on human psychology.

This is one reason why gold has extraordinary potential. *IF* the mountains of currency begin to collapse, there is only a little tiny bit of gold in the world to suck up a pretty good chunk (say, 2-3 percent) of all that value.

Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months

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The above is a reply to the following message:

It's also feared the downgrades could trigger fresh market panic, and a new exodus to gold.
By: capt_nemo in ROUND
Tue, 26 Jun 12 10:19 AM

Msg. 42270 of 45510

Bank downgrade shocker aims to plant fear & panic
By: portos
Tags:

ECONOMY
VIDEO

Fifteen of the world's largest banks have been rocked by credit score downgrades, with rating agency Moody's delivering on what it had long promised to do. Those hit include Goldman Sachs, Morgan Stanley, Bank of America, Bank of Scotland and Deutsche Bank - financial powerhouses domestically and internationally. The move could make it harder for them to keep existing clients, or attract new ones and their money. It's also feared the downgrades could trigger fresh market panic, and a new exodus to gold. For more on the possible repercussions, RT talks to Charlie McGrath, economic blogger and founder of the website 'Wide Awake News'.
http://revolutionarypolitics.tv/video/viewVideo.php?video_id=19256

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