Gold, Silver After Greek Default
http://seekingalpha.com
Posted on Monday, February 06, 2012
In this author's last article, the issue of the ECB's enormous LTRO money giveaway was addressed. Your writer predicted that this "back-door" money printing program would have a profound effect on the high levels of liquidity needed to spur precious metals prices, as well as other assets, even though it was targeted at bolstering the sovereign debt of various bankrupt European nations.
As predicted, European banks have started to use part of the money to buy Spanish and Italian bonds. Yields have come down. The article also predicted that gold, silver and platinum would go up. That also happened. A snapback will usually occur immediately after a manipulation event. That's why investors should buy into falling prices, rather than following "momentum".
Read the rest at the original source.
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