July 2, 2015, 10:25 AM
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Administrator
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Join Date: Aug 2006
Location: West Palm Beach, FL
Posts: 3,585
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Instead of Gold...
I've got a stash of water filters and coffee.
Worth more than gold when it bottoms...
Gordon
PS. Plus the ammo.
PPS I miss Kurt Saxon
Quote:
Originally Posted by Dien Rice
Greece just defaulted on its payment due to the IMF...
Why should anyone care? Greece is just a small country, by world standards...
They care because people fear the "domino effect"...
France, Italy, and Spain all also owe huge amounts to the IMF. What if they default too?
Greece owes 57.23 billion euros, France 42.98 billion, Italy 37.76 billion and Spain 25.1 billion.
It'll be a race to get your money out of the market before the next guy does...! We can see some of that already, with the recent fall in the S&P 500...
Not saying we're there yet - it depends on what happens with Greece, and whether other "dominoes" are in danger of falling...
But, where will that money taken out of the market go?
Generally, cash, bonds, precious metals...
Is that what will happen? That's what some people are fearing...
Best wishes,
Dien
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