Well I am feeling a little more positive about this lot and will be participating.
I think that the AUD will become much weaker by the end of this year (big budget deficit coming, govt spending will be cut, and interest rates cuts because of this) with US and Europe in recession or low growth, China has its difficulties and uncertainties.
US has no options at all except to continue QE and will require Japan and Europe to participate in same to maintain relative values. AND the last take down of gold/silver seems to have been a game changer as to global mindset on PMs. It also reveals massive behind the scenes problems within bullion banks and their lack of metals.
I think a further take down as before will be too scary for them based on the last response and would knock confidence in US banks too as it would imply they have massive problems.
I suspect they will have to let PMs have their own way more and more. I cant see them buying on the COMEX the amount of gold they are deficient as that would shoot it to the moon...so what is the answer I wonder...force majeur and payout all in cash - another bank bailout?
Whatever their solution it will be confidence problem for them...and thus good for PMs.
So I think the future for metal prices and AUD is good for the miners....excepting all the nasty corrupt tricks TPTB can get up to to protect their mates.
AYN Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
