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Gold/Mining/Energy : Gold & Gold Stock Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Land Shark who wrote (25936)	9/11/2011 11:14:38 PM
From: Oblivious	15 Recommendations Read Replies (1) \| Respond to of 29622

I thought Obama was President for the last 3 years.

To: Land Shark who wrote (25936)	9/12/2011 12:48:22 AM
From: Hawkmoon	Read Replies (1) \| Respond to of 29622

Funny take. QE3 is coming to you soon. It's the only way that the Fed/US govt. can get their way out of the current situation. You may be right, but the question is whether Japan and Europe can handle a further depreciation of the USD. Both of those economies need their currencies to devalue in order to spur economic growth (presumably). QE3 may come from Europe, not the US. Charts don't lie (very often, anyway.. ;) If Greece defaults, it's going to signal that the other PIIGS are on the brink of doing the same and it will un-nerve the Euro currency. Gold may just consolidate against the USD as an additional "safe haven". But the bottom line is that just as a upside "wedge" resolves into a major downside move, so it is with the inverse. The USD stands to appreciate quite a bit to 87 resistance.. And that should be bad for equities which will adjust to the new cash equivalency in their valuation. But we'll see.. Maybe you'll be correct, but be prepared for the other possibility. Hawk