Message:

<p>[QUOTE=&quot;desertgem, post: 1227573, member: 15199&quot;]If the debt limit is raised, I wouldn&#039;t expect Moody&#039;s or S&amp;P to downgrade US paper. Remember these companies depend on business from JP Morgan, MS, any firm that makes money off of derivatives or bonds. Much of the housing derivative problems were blamed on the high ratings that these rating companies blindly passed, as they were gathering in the premiums. Now is not the time for them to try and prove they can be tough, or they may find themselves in deep financial crud also, and few will be helping them out. I really don&#039;t expect them to lower the ratings, even if the debt ceiling wasn&#039;t raised myself, IMO. If Eurozone meetings this week goes well in solving their problems, and if you look at the CDS rates today, all of the eurozone countries improved except Greece. So I suspect some inside deals have been made and they ( except for Greece) may get something arranged. If both the credit limit is raised and the Eurozone and euro gets better, I expect 1550 Gold and 32-34 silver by Oct. 1 unless something else explodes financially <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /></p><p>Jim</p><p><br /></p><p>CDS:&nbsp; <a href="http://www.cnbc.com/id/38451750" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.cnbc.com/id/38451750" rel="nofollow">http://www.cnbc.com/id/38451750</a>[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in