The question is what do you think would happen to silver (in the near term - within the next week) if a debt ceiling agreement is passed?
Would silver fall because it would appear that we are closer to "dealing with our debts"?
A debt ceiling agreement soon would lead to a fall in the USD with the context being that a QE3 or some stimlus would have to come in effect to buy the debt back...kinda of like when people pay off one credit card with another having a low intrest rate. the plan being that they do not want to increase the intrest rate to high or a spiral effect will follow.
IMHO SLV will close green for this week...but next week yes i have some uncertainity that silver might drop with "dealing with our debts" i don't fully understand the economics behind this but like yesterday that whole obama and politic speechs are in place to try to sustain a house of cards that will eventually fall.
It will likely take a short lived nose dive and investors would buy the dip. Anyone with half a brain knows they are not going to "really" lower spending...they will lose votes in whatever area they cut money from. So they will make a vague long-term plan to cut a couple Trill ... or if they do a temp extension while they "work" on cutting Trill's from the deficit the gold and silver market will continue on a shock and awe summer..you would think someone has to default soon in Europe.
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