We're not moving much over the past few days, its been tight trading between 1236 to 1262. The ECB is coming in to support the Italian and Spanish bond markets. ECB head Draghi has shown his true colors: Bernanke Light. He is following in the same footsteps and will start wholesale monetization of the PIIGS debt. It should be euro negative, were it not for QE3, which will be coming to a theater near you. It is a fiat fantasy, printing money to solve problems. Gold should hit $2500 sometime next year.
Stocks can't stay down with this kind of money printing from the 2 biggest central banks in the world. The world is awash in liquidity. Any contagion fears that take stocks down are buying opportunities.
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1 comment:
europe and the USA will just take turns monetizing debt. Euro and dollar are the same thing vs. safe currencies
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