The ‘G” looks set to leave the PIGS
Sunday, May 8, 2011 at 07:26PM
Silver Prices in Other
Euro Pigs 09 May 2011.JPG


Gimme gimme gimme, and if they get more we must have more too! What a mess this Euro-zone is in. No doubt the politicos, whose sole purpose is to keep their snouts in the trough will be scurrying like rats in a sewage system in an attempt to prevent the inevitable. The collapse of this union is gathering speed with the more financially stable members finding it harder to 'sell' the need for more bailout cash from their people to the fiscally inept nations who couldn't balance a household budget never mind a national budget. Our prediction is that we will soon see a re-formed smaller European union as in turn Greece pull out first, followed by Ireland, Portugal, Spain, Italy and if the UK comes to its senses they should pull the pin on this nonsense too.

Financial upheaval in Europe does not bode well for the Euro, which in turn may see more investors switching out of the Euro in favour of the US Dollar. Should the dollar rise then silver and gold prices could be capped, it'll certainly be an interesting day as the markets wake up in Asia and start to process and react to what is going on.

Anyway, two excerpts covering this item, the first from the Guardian in the UK and the second from Reuters, that sort of cover the issues.


Eurozone finance ministers are battling this weekend to contain a mounting sense of crisis about the future of the single currency as details emerge of secret talks on restructuring Greece's debts.

Analysts expect a sharp sell-off of the euro when markets open tomorrow morning, as investors digest the fallout from reports – swiftly scotched – that Greece was considering leaving the eurozone.

"Perhaps we have crossed a rubicon," said Jonathan Loynes, European economist at Capital Economics. "The knee-jerk response will probably be to push the euro lower. I believe the euro should be at parity with the dollar, not at $1.44 – I don't know what it's doing at anything like these levels."

Euro policymakers at first denied that a meeting was taking place, but were later forced to admit that the German, French and Italian finance ministers had been holed up in a chateau in Luxembourg with their Greek counterpart George Papaconstantinou, discussing options for dealing with Greece's unsustainable debt burden.

Rumours swept through financial markets late on Friday that Greece was threatening to leave the eurozone and reintroduce the drachma, but that was furiously denied by Athens yesterday.

"During this meeting Greece's participation in the eurozone was neither raised nor discussed, as was irresponsibly reported by certain media for their own reasons," the finance ministry said.

"The Greek government remains firmly committed to the implementation of its economic adjustment programme agreed with the EU, ECB and International Monetary Fund in order to put the country's finances in order and place Greece on a path of sustainable growth."




(Reuters) - The European Union is under pressure to renegotiate its financial bailouts of Ireland andGreece after an Irish minister said any concessions given to Athens should mean better terms for Dublin as well.

The 110-billion-euro ($157 billion) rescue of Greece, agreed in May last year, and the 85-billion-euro scheme for Ireland, put together in November, were meant to be the cornerstones of the euro zone's response to its sovereign debt crisis.

The fact that both may now be revised, in Greece's case perhaps radically, underlines how they so far have failed to convince markets that the problems are in hand, and suggests Europe may be on the hook to supply fresh aid for years to come.

Irish Minister for Energy Pat Rabbitte told state broadcaster RTE on Sunday he would like to see a rescheduling of the emergency loans extended to Ireland under the bailout by the European Union and the International Monetary Fund.

"Quite frankly the (interest) rate on Ireland must be reduced and in my own view the debt must also be rescheduled but that's another issue," Rabbitte said.

He said Ireland intended to continue negotiating improvements in the bailout terms throughout the scheme's three-year life.


We recently reported that www.skoptionstrading.com had closed another two trades for profits of 108.52% and 116.67% respectively, this was followed with two more profitable trades so the chart and stats have been updated accordingly.

Over in the Options pit, our model portfolio has achieved an average return of 41.92% per trade, 78 closed trades, 76 closed at a profit, or a 97.43% success rate. Average trade open for 46.45 days.



sk chart 04 May 2011.JPG





The above progress chart shows our performance when profits are re-invested, however, to see exactly how it is going, please click this link.

So, the question is: Are you going to make the decision to join us today.

Stay on your toes and have a good one.

Got a comment then please add it to this article, all opinions are welcome and very much appreciated by both our readership and the team here.


To stay updated on our market commentary, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address. (Winners of the GoldDrivers Stock Picking Competition 2007)

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter.

For those readers who are also interested in the nuclear power sector you may want to subscribe to our Free Uranium Stocks Newsletter, just click here.






Article originally appeared on Silver Prices (http://www.silver-prices.net/).
See website for complete article licensing information.