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The €100B Spanish bailout added to EU/IMF pledges to Greece, Ireland, and Portugal brings...

The €100B Spanish bailout added to EU/IMF pledges to Greece, Ireland, and Portugal brings the total to €486B since 2010, reports Linda Yueh. Got gold?
Comments (38)
  • Since we are traditionally about 20% 0f the IMF - does this mean more $ from us?
    9 Jun 2012, 03:11 PM Reply Like
  • Of course! And as the new French president said....the problem in Euroland is that government employees should be able to retire even earlier.
    9 Jun 2012, 03:21 PM Reply Like
  • On top of that, this means the US will have to do the same thing to keep its currency low. The race to the bottom only ends with people giving up on Fiat currencies. It's just that it comes in spurts.
    9 Jun 2012, 06:45 PM Reply Like
  • uh... Yes...that's right. We continue to contribute to bailing out the Socialist utopian European states. Whatever the "IMF" provides, 20-27% of it comes or has come from U.S. taxpayers. Thanks again B.O.
    10 Jun 2012, 04:39 PM Reply Like
  • Can't blame just him. It's not like it'd be any other way with the other guys. The system is built this way, and until it fails, or people wake up (I've given up on the latter), then we'll just have to watch the train wreck progress. Romney sure as hell wouldn't fix it.


    Ron Paul would have tried, but no one actually wants real change, so we're stuck with tweedledum and tweedledee.
    10 Jun 2012, 08:07 PM Reply Like
  • I guess there is no financial crisis, panic, or debt problem that can withstand a central bank's ability to print unlimited amounts of cash. In the latest instance, it seems that the debts of a few Spanish banks will be monetized. The European Stability Mechanism will issue bonds to the banks, and the banks will turn around and pledge these bonds to the ECB in exchange for cash. There, problem solved. Investors willing to purchase "safe haven" bonds at 1.63% for the 10-yr T-bond or 1.33% for the German 10-yr. should be forewarned.
    9 Jun 2012, 03:37 PM Reply Like
  • We will a triple digits up Monday!
    9 Jun 2012, 04:08 PM Reply Like
  • We will a triple digits because of Spain
    We will a triple digits because of Greece
    We will a triple digits because of the End of Q2


    and then it will pass too


    Focus On India And China, Not In Europe
    As an observer of markets whenever everyone focuses on one thing like Greece and Europe maybe they miss issues that are far more important such as a meaningful slowdown in India and China.
    Marc Faber Blog
    9 Jun 2012, 06:50 PM Reply Like
  • Watch IBN closely, because this stock is the poster child of India's economic problems.


    When it rallies back to 32-33, it will setup the perfect short entry.
    10 Jun 2012, 02:19 AM Reply Like
  • Yes, I have been on India and China all the time. Europe seems to be closer at this point!
    10 Jun 2012, 07:52 PM Reply Like
  • Probably not, it was already baked in. Hence the rally for no reason last week. The Greece election will put the markets on edge next week.
    9 Jun 2012, 04:19 PM Reply Like
  • Markets rallied last week because stocks were grotesquely oversold relative to "safe haven" bonds. They still are.
    9 Jun 2012, 04:25 PM Reply Like
  • We have lots of (GLD) and ( expect with China and a100 billion dollar poltice for spain a double wammy of a rally for ( Asia Sun PM extending from there.Long ( with WWDC starting Mon we hope for a trifecta.
    9 Jun 2012, 04:39 PM Reply Like
  • stocks were bought because the hairbrained thought they should.....thats all you need to know, a hydrocephalic donkey is going to come to the same opinion...
    9 Jun 2012, 04:40 PM Reply Like
  • Risk ON babe.
    9 Jun 2012, 04:47 PM Reply Like
  • The risk on rally will be short lived. Every dog has it's day
    9 Jun 2012, 04:52 PM Reply Like
  • According to this weekends Barron's, central banks are buying gold at the fastest pace since 1965.


    What do they know that gold deniers don't?
    9 Jun 2012, 05:02 PM Reply Like


    LOOK OUT GOLD BASHERS!!!!!!!!!!!!!!!...


    9 Jun 2012, 05:32 PM Reply Like
  • Is this a good time to consider both silver and gold mining stocks?
    9 Jun 2012, 06:59 PM Reply Like
  • The money printing machines at the central banks all over the world are in hyperdrive now and threaten to melt through the floor as they glow red hot from the TRILLIONS of $ and € and £ and ¥ that they are attempting to flood the world with in a futile effort to hold back the deflationary tidal wave that is engulfing all of us.


    Gold and silver are the only true money left in the world as $1 trillion means less and less and less.
    9 Jun 2012, 07:04 PM Reply Like
  • Congratulations, and welcome to the club.


    Excellent comment.
    9 Jun 2012, 07:37 PM Reply Like
  • One of the best short opportunities this year is almost upon us...
    9 Jun 2012, 07:42 PM Reply Like
  • You mean, as in "short covering"?
    9 Jun 2012, 07:57 PM Reply Like
  • @nightfly, given you were bearish on Aug 17th of last year, I'm comfortable with my long positions. :-)
    9 Jun 2012, 08:30 PM Reply Like
  • I am not sure why the perma-bulls here think that there's a large short interest out there in equities. There isn't. Only EUR has a large short interest outstanding - which was supposed to be a "sure thing".


    I am sure this big risk-on rally and short squeeze "sure thing" is different though. Lever it up boys. I'll be the one selling my longs to you.
    9 Jun 2012, 08:31 PM Reply Like
  • one day, maybe soon, gold is going to 'reset' its price and that my friends, is going to be a day like no other, a day in which i will laugh like a little baby laughs when its being tickled, watching all the socialist /humanist/liberal filth screaming and killing for everything....bwbwhwha...
    9 Jun 2012, 08:02 PM Reply Like
  • I am a gold investor and also trade the ups and downs some with the idea of building a larger holding within a reasonable part of my portfolio. But somebody please 'splain me how this news is good for gold.


    I am looking at world wide deflation for some period of time before a very large increase in the value of gold. But it's way, way down the road in my thinking and we may see $1,400 again within the next 6-12 month time frame.
    9 Jun 2012, 10:14 PM Reply Like
  • DC,
    Would not be surprised to see dollar up and euro down on Spain bailout news. Such is usually not positive for either gold or equities. So will be interesting to see how markets react on Monday.
    9 Jun 2012, 10:45 PM Reply Like
  • More printing is ALWAYS good for gold and silver.


    The only bad things for gold and silver would be:


    - A massive new discovery of gold or silver deposits somewhere (unlikely)


    -Revolutionary techniques in robotic asteroid mining brings back tons of new precious metals (at least 30 years from being reality)


    -Global, coordinated TRUE austerity (which is severe temporary tax increases on the wealthy and upper middle class and severe government spending decreases in entitlement and social programs) (never gonna happen)


    -An end to fiat money printing (not in our lifetimes)


    Global deflation is a precious metals investors best friend and a nightmare for oil and natural gas investors. Enjoy next week's precious metals rally.
    10 Jun 2012, 04:45 AM Reply Like
  • As Marc Faber says, eventual black swans will most likely fly from the direction of India and/or China. China is way too much dependent on western consumption whereas India is laden upto its eyeballs in corruption. Both have massive asset misallocation and if West falls they will most likely fall faster and deeper.
    9 Jun 2012, 10:26 PM Reply Like
  • Europeans should be opting for gold and silver, but I think they will immediately be buying dollars, and the gold and silver recognitions will come later. But all in all I would rather be in gold and silver and their mining and royalty stocks than dollars. A landslide could occur when the public wakes up.
    9 Jun 2012, 10:42 PM Reply Like
  • Orpheusrog,
    In the words of my favorite sports commentator, Lee Corso, "Not so fast, my friend." God, I wish it wuz college football season already and I would not be here at 1am on SeekingAlpha.


    I don't think the Europeans will be buying much gold and silver in the near future. They may sell much of their large holdings. More likely they will struggle to buy a loaf of bread, even as prices fall during times of deflation brought about by austerity.


    But I am just a Rambling Wreck from Georgia Tech and understand from Corso making a bad pick from time to time that "God is a Hokie:"



    In the long run, gold is a huckleberry to equities being a persimmon and treasury bonds being cow dung. But for the next few months, dollar is king.


    There you have it from The Amazing Bubbadamous.
    10 Jun 2012, 01:39 AM Reply Like
  • why doesn't uruguay or sao tome or somebody come out with a gold backed currency?
    10 Jun 2012, 12:59 AM Reply Like
  • IMF rules prevent gold backed currency. There's also the worry that your currency would become "overvalued" (a horrible term to explain why it is that they're all currently in a race to the bottom) and that would adversely affect exports.
    10 Jun 2012, 12:16 PM Reply Like
  • The dollar bubble will burst when the trillion dollar student loan bubble bursts.


    At least mortgages were backed by real property.
    10 Jun 2012, 04:48 AM Reply Like
  • Most comments are geared towards short term profits and news.
    Build your portfolio slowly with metals and defensive stocks.
    Can gold go lower in the short term? Of course.
    Can gold go lower and lose money over the next 5 yrs. Of course not!
    With China, India and the banks buying gold it is hard to predict a 1450 retest?
    10 Jun 2012, 08:30 AM Reply Like
  • i guess i should have said' non-export centric' theory shows there must eventually be someone who breaks from the commie IMF pact, and goes the right way......who would it be? outlier could be an african country with lots of gold, but they're all tribalist/gov't lovers, uruguay? possibly, but they don't wanna rock the boat. the only place with the nuts to do it would be singapore or leichtenstein....someone who doesn't need thier handouts and isn't afraid of the violent commies in the US and the IMF
    10 Jun 2012, 12:45 PM Reply Like
  • I'd love to see that happen.


    My money would actually be on China being the first to do this, and that's only going to happen once they have themselves set up to be a reserve currency and are less export oriented and more internal trade focused, and we're a few years from both of those yet. They've been increasing gold holdings for years and that's only the holdings they're telling us about.


    Politically this is when things might get very scary. The US won't want that for a second. It undermines their power base, what with the largest US export being debt, and there's a chance they fight to keep that export.
    10 Jun 2012, 08:13 PM Reply Like
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