All kinds of cross-currents swirling around the world markets and AIG in particular overnight and early this morning.
Central banks all the way from Japan to Australia to England have "injected liquidity" into their markets(printing their own currencies) overnight.
On the one hand this would seem to be good for the silver price in those countries due to the inflationary nature of printing more money....
but on the other hand, this brings them more into parity with the USD, which for us makes the USD rise in relation to the Euro, Yen, AUD etc which I guess will have the effect of driving the price of silver down in US Dollars?????
Throw in the fact that AIG was saying yesterday that they needed a bridge loan of $40 Billion from the Fed who apparently rejected that option and then began trying to facilitate a loan to AIG from Goldman Sachs and some other entity...for $70 Billion!!!...Hmmmmmm...???
And after the close yesterday, AIG was finally downgraded by two rating firms...something AIG and the market was hoping wouldn't happen because that then creates the need for AIG to raise even more capital....hence the $70 Billion rather than just $40 Billion.
And today there's speculation that the FED, rather than raising the interest rate a quarter point may now lower the rate by HALF a point! That would also be good for Silver/Bad for the USD....and to top it off...AIG is now bidding up fueling speculation that the Fed may have changed it's mind and is now going to bail out AIG!!!...????...No Goldman Deal???? Talk again of it being a firm that's "TOO BIG TO FAIL". I smell a BAIL OUT AND DOLLAR DILUTION again!
And the talking heads in Europe this morning arrived at the conclusion,(after asking themselves where the best place to put money would be now), that investors should put their money in a SAVINGS ACCOUNT!
The American analyst/talking head who was asking the questions then said in a disgusted tone of voice..."is this where we are now? That the best investment advice we can get is to put your money in a savings account?" They all just sat there silently looking at him. That was the best answer they could come up with.
It's incredible.
McBUSHIE'S choice of Palin was irresponsible, dangerous and insulting to America's intelligence. That choice and his continuing smears/lies prove he'll do anything to win this election even to the point of endangering his own country.DEFEAT HIM!
