GREY:NWSKF - Post by User
Comment by
dorinhoon Jun 25, 2012 12:24pm
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Post# 20051645
RE: not a good start to the week...
RE: not a good start to the week... Hola Gold69 ...
I couldn't agree more. This is looking grim. We are now 50% below the last financing levels. The only thing I imagine is that funds etc. have to sell NES to make margin calls or some such thing?? In many ways it is clearly as bad as late '08 - early '09.
My latest stinky of 1.51 CAD was hit easily last week and now my next in the 1.30's is now in range. Depressing to say the least especially since many of us were accumulating at 2 bucks + in the past year to 15 months. So little cash availabiliuty at my end to take advantage!
The most chilling thing I heard was from the "Michael Campbell" "Money Talks Show in Western Canada ... Michael Levey talked of Au prices sub-$1300 USD in the future?? Systemic economic collapse in Europe and USA + lack of QE from Bernanke. He said deflation is the key word going forward?? As such and with his perception of Au as an inflation hedge ... he felt we are looking at much lower Au prices.
I wish I had more cheerful stuff to pass along!
Buena suerte a todos ... it appears we will need it big time!
Dorinho