My friends and I are getting together to speculate a large deal on gold.
They are young, middle managers, on Wall Street and the Capitol (NOT members of Congress!!!).
We bet there won't be a debt deal over the weekend so we MIGHT bet it VERY BIG (over 10 tons) of gold as the market comes to a close today.
Cloudy water is where the fish is...
Of course we may get burned but that's a fact of life, and last time we checked, we're all adults.
Done deal, New.Trader, we locked in.
No debt deal before 4 PM.
1601.
http://money.cnn.com/2011/07/22/news...x.htm?iid=Lead
"...NEW YORK (CNNMoney) -- Could a failure to raise the debt ceiling spark the same kind of credit crisis that plunged the global economy into a recession in 2008?
Short answer: Yes. That's exactly the situation some experts are warning the United States will find itself in if the Treasury Department were to miss interest payments.
The government's debt -- in the form of Treasuries -- is the lifeblood of the credit system and provides the grease for the short-term lending banks rely on.
The doomsday scenario goes like this: Worried short-term lenders start demanding more collateral, while the value of Treasuries becomes muddled. Alternatively, a default results in a downgrade of U.S. debt, spurring some investors to sell Treasuries.
Either way, the impact ripples out into the economy. Banks are unable to borrow, and credit markets freeze.
It's the kind of crisis that quickly transfers from Wall Street to Main Street..."
Situation on Oslo is adding to the uncertainty, fear...
What the heck is going on, why Norway?
It's purely speculation, you know that...
There might be debt deal over the weekend, in that case we may lose money, because POG may come down a bit before it could go back up again.
My friends and I are making a speculative judgment, based on what we could tell about the current climate, the differences between the Repub and the Democrats.
We think there would be short-term deal to keep the US governing running, paying its debts, so there wouldn't be default.
But no deal until AFTER 8/2. May go even into Sept or Oct.
That's what we thought. We might be wrong, but the loss would be small, the profit would be giant.
Gotta go get the money rolling.
Buy more @ 1602.
http://www.nytimes.com/2011/07/23/wo...o.html?_r=1&hp...A terror group, Ansar al-Jihad al-Alami, or the Helpers of the Global Jihad, issued a statement claiming responsibility for the attack, according to Will McCants, a terrorism analyst at C.N.A., a research institute that studies terrorism. The message said the attack was a response to Norwegian forces’ presence in Afghanistan and to unspecified insults to the Prophet Muhammad. “We have warned since the Stockholm raid of more operations,” the group said, according to Mr. McCants’ translation, apparently referring to a bombing in Sweden in December 2010. “What you see is only the beginning, and there is more to come.” The claim could not be confirmed.
Norway is a member of the NATO alliance and has a small fighting contingent in Afghanistan. It was one of several countries named by Ayman al-Zawahri, the leader of Al Qaeda, as potential targets for attack. In 2006, Norwegian newspapers reprinted Danish cartoons that angered Muslims by lampooning Muhammad.
...
Gold started up last minutes before market closes.
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