Who will quit the EURO first?

[pacman]

    Good advice but buy actual gold bullion, not a gold ETF (Exchange Traded Fund).

Every day millions of dollars of ETF's are traded but just where is the gold coming from to fill these contracts?

This is an enormous scam when you consider that most buyers of gold are holders in these economic times.

Early this year, any holder of an ETF gold contract wanting the actual metal was quoted an additional 10% plus a 3 week wait for delivery.

Two months ago they asked for an extra 25% & a 3 month wait for delivery. Since then the demand has only increased.

Gold price fluctuations are caused by traders taking profits, banks short selling but do not reflect any lack of demand.

If the crisis in Europe causes contagion problems in other global markets & there is no actual bullion available to be supplied, just what is the real price of gold?

A damn site more than what is being quoted today, that's a certainty.

Oh, & BTW, there are many financial commentators predicting that holders of gold ETF's are going to be burnt. There is no hope they can ever be supplied.

[azza33]

Gold ETF on the asx is backed by a physical holding of gold.

As for the currency issue, run a profit protection stop strategy. I have a policy of keeping 65% of my peak profit on any position. This helps protect your gains in a fast moving market. Nothing worse than making money and then selling at a loss.

[fretinker]

(Bumpa STIKKA @ May 20 2010,15:58) Some info...

The euro (‚¬) is the official currency of the European Union and is currently in use in 16 of the 27 states, known collectively as the eurozone.

They are Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia  and Spain.

Estonia  is due to join the euro-zone on the 1st January 2011. The currency is also used in a further five European countries, with and without formal agreements, and is consequently used daily by some 327 million Europeans. Over 175 million people worldwide use currencies which are pegged to the euro, including more than 150 million people in Africa.

But it won't last. The vanity of the dreamy eyed idiots who put it all together will keep it going for a couple more years but something will have to change.

My money is on Germany having a referendum (or party vote) and pulling out. It's thought that Greece may decide to go it's own way and maybe we'll see the drachma back before you know it. Will the Irish decide that enough is enough? It would be much easier for an Island nation to bugger off (after the billions of aid it got!) It's never been that keen anyway.

The fucking idiots who thought this might work should be publicly hung. Thank fuck the Brits didn't get too deeply involved in this fiasco.

I personally thing that a German - France - UK currency called the Super-Euro is the ony way to get Europe back on track. And the other crap countries will just have to go back to swapping beans for eggs, etc.

I think Germany will leave first.  

wonder what is your trip vs the euro?
Talking about fiascos Europe can take great lessons from GB.
There is plenty of idiots there.
Do not forget that you and your american buddies have taken the world economy to the brink of collapse.
Amazing you even have the balls to talk!!!!!!!!!!!!!!!!!!!
Free

[Road Runner]

(fretinker @ May 24 2010,16:15) wonder what is your trip vs the euro?
Talking about fiascos Europe can take great lessons from GB.
There is plenty of idiots there.
Do not forget that you and your american buddies have taken the world economy to the brink of collapse.
Amazing you even have the balls to talk!!!!!!!!!!!!!!!!!!!

The 'trip' is the financial engineering that has been used to get the maximum number of countries into the Euro.
Purely to satisfy the politicians egos and ignoring common sense.

As was forecast and is now coming to pass - some of those countries have been fiddling their books for years.
Even more to the point they have been using EU handouts to prop-up their rotten financial systems.

I fully agree with you that the GB Pound has been buggered up by the bunch of idiots managing the banking system and our so-called 'Greatest ever Chancellor of the Exchequer' stood by and let it happen.
But the fact is it's OUR money to bugger up!


Oh and lack of communication/co-operation is what got the entire world to it's present situation.


RR.

[Ivor Biggun]

This was a very good program on why Germany WOULDN'T leave the Euro http://english.aljazeera.net/program....48.html

[manarak]

(Bumpa STIKKA @ May 20 2010,15:58) I think Germany will leave first.  

Well... wrong !

I left the EURO already.

Only about 10% of my holdings are still in dreaded EUR.