Big players in Europe want to sell at all costs. US stocks had their worst day since the end of 2008 which is when my days as a day trader were over. Today stocks world wide, gold and risk assets in general all went down together! Bank of New York, Mellon, announced that if you wished to place $50 Million or more, cash, on deposit with them you would have to pay for the privilege! That's right, negative interest. Wow!
Don't worry, with many US stocks paying big dividends (monopolist Intel is paying near 4%, Chevron is about the same) there is a floor under some stock prices. Likewise with paper money being devalued worldwide gold will continue to have value.
Coins? Well bullion for sure will swing back and forth. I'm betting on being able to sell bullion for more next year than I can sell it today even during this liquidity crunch. If the economy recovers and people are able to work if they wish, retire if they wish, coins will do very well. If the economy fails we all better enjoy gardening and hunting!
Ever the optimist I'm hoping to see good US employment numbers tomorrow. A slow recovery is much better than no recovery at all!
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