ralphooooooooooooo get a clue ... I worked for a bank in the past, you don't know how they work from what you write ...
I sold all my physical silver today, hoping to re-establish the physical position sometime next week at a much lower level. Edit: Central bankers are becoming pro-active. I thought this would have happened sometime next week, but ahh i was so wrong!! http://www.reuters.com/article/2011/08/06/us-crisis-g-idUSTRE7751CG20110806
Markets are quite oversold and there should be a global effort to plunge protect. A sell-off on monday should be bought
Now THIS is bad news. Downgrade is meaningless http://www.zerohedge.com/news/it-ju...too-big-efsf-save-refuses-carry-euro-bailout-
It is just jawboning as always. Remember... Euro members were not allowed to have debt to GDP higher then 60% or bigger deficits then 3%.... And Germany was the first to break those deficit rules.... Or how about the ECB buying bonds.... That would have been deemed unimaginable just a few years ago.... We will see what happens but headlines like that are by no means that significant.
The ZeroHedge article says it was on Dow Jones Newswires. So I found it via a Google search: http://futures.tradingcharts.com/ne..._Big_For_EFSF_To_Save__Spiegel_162804168.html "Germany's government thinks Italy is too big for Europe's rescue fund to save, Der Spiegel magazine reports in a preview of an article to be published Monday. "
It's on the Der Spiegel site ... from Google Translate ... http://translate.googleusercontent....0.html&usg=ALkJrhjXTvdHHOZd2-_szdfcZAfWp91qBA
It this the article Ralph? http://www.spiegel.de/international/world/0,1518,778667,00.html (in English)
If Italy is really fiscally sound and will get a surplus by 2013, I REALLY doubt they won't make a bridge loan if their bonds sink