RE: Silver price ShatnersRug, you may be correct but Cypress hasn't actually Voted on this ( yet ).
It certainly shall create many uncomfortable consequences.
This European fiasco is exposing a very vulnerable and systemic weakness: Trust.
This isn't unique to Cypress and her Local small Bank conditions. This is in an International Investments Tax sanctuary that has now shown a breath taking vulnerability - as opposed to an expected confidential strength. ( imo :)
Ireland is another with similar issues. Contagion fear becomes a crucial harbinger, feeding Doubt.
*It is interesting that China didn't allow Hungary to experience a similar tumble in 2011.
(as one of first Nations to run out of Bond time due to early participation in the Banker's " alphabet soup " derrivatives).
My predictions would contain:
A months long strengthening of the $U.S. -- anticipating a rush to security.
Anything Precious will have an appeal. Margin Clerks will distort this strength; if you are Levereged!
The " March " of the Margin Clerks will be ruthless when any Big Market breaks, and when individual Country Bonds don't " hold " their low Interest Euro safety component.
Electing Nationalists is about to trump European solidarity; as finances mostly take a turn for the worse. ( eg: Does Germany really want to Finance Europe? )
This slow motion train wreck is accelerating and any Black Swan event shall turn up the Fear Factor.
The allgorams will work overtime and many will rue their capabilities.
July will see au return to the Kondrateif ( sp ) Winter up leg.
We are in a Secular Bear Market that is experiencing a temporary Bull adjustment!
Banks will continue to hoard Capital and many worthy Businesses will be denied Operating Loans.
Quantative easing will accelerate, and M2 will see record Levels.
$ velocity will be constrained and the VIX will soar!
hahaha -- Is that sufficient to chew on?? ALL the best!!