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<p>[QUOTE=&quot;InfleXion, post: 1467024, member: 29012&quot;]Thanks for sharing your unique perspective qsilver007. I agree with a lot of what you&#039;ve posted, but would add BitCoin is another currency without a central bank which is a big part of why it has any traction. It was a challenge to read it all though. I am reminded of the Churchill quote &quot;The length of this documents defends it well against being read&quot;.&nbsp; &nbsp;&nbsp; </p><p><br /></p><p>More money will need to be printed to keep the debt and derivatives bubbles inflated, and all fiat currencies are in a race to the bottom barring fiscal responsibility. I wouldn&#039;t be surprised to see gold and silver denominated in USD go lower if the European situation falters, but any benefit would be temporary IMO as the counter party contagion risk would impact banks in the US as well. I also think it would be difficult to find silver at $20/oz. Any new low would incite buying of physical metal even if the paper price keeps going further down. Sure it will be out there, but few people will be selling physical for that price except the companies that are hedging, and I doubt they&#039;d have much in stock. Plus hedging will only be viable so long as banks are able to remain capitalized otherwise those avenues will be limited and we may see more MF Global type situations.&nbsp; </p><p><br /></p><p>The European situation is also bullish for gold because it will be in higher demand during any currency transitions. Athens alone has thousands of gold dealers, and the people who can&#039;t afford gold will go for silver. I don&#039;t think the GSR will benefit silver until prices begin to rise again, and the further the rise the greater the benefit. This seems plausible as a delayed effect (as more people get up to speed and on the bandwagon) from a possible deflation scenario since the further the price drops the more that the physical supply will decrease and could make the price go higher than otherwise if low prices actually cause a supply issue. Lots of ifs...[/QUOTE]</p><p><br /></p>

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