Long Jean Silver

Gold and Silver Gain as Greeks Vote on "Austerity or Dignity", Safe Haven ...

Prices to Buy Gold climbed to $1510 per ounce Wednesday morning in London – a 0.5% gain for the week so far – while stocks and commodities gained and US Treasury bonds fell ahead of the Greek parliament austerity vote.

Prices to Buy Silver rose too, hitting $34.49 per ounce – also a 0.5% gain for the week.

"Activity picked up this morning" in Asian trade, according to one Hong Kong bullion dealer, who says the market is "cautiously upbeat" on account of recovering risk appetite.

"Market participants are generally positive on gold," agrees Yingxi Yu, commodities analyst at Barclays Capital. Yingxi questions, however, whether now is the right time to Buy Gold "given the volatility in risky assets such as equities and oil".

"People are not keen to go short, but we don't see a rush to Buy Gold either because it is the low season," adds a Gold Bullion dealer in Singapore.

Greek politicians were expected to approve austerity measures on Wednesday, in spite of protests in Athens. A so-called rebel from the ruling socialist PASOK party has now signaled he will back the measures.

"I have made the decision to vote for the plan because national interests are more important than our own dignity," Thomas Robopoulos told Reuters on Wednesday.

"A positive vote in Greece today...would remove a significant risk in the near term," says Olivia Frieser, analyst at BNP Paribas in London.

"But the Greek issue will be a chronic one, so we wouldn't get overly carried away on the news."

A memo from the Fédération Bancaire Française – dated Friday and leaked on Tuesday – proposes a scheme whereby holders of maturing Greek bonds agree to roll over at least 70% of the principal, in return for 30-year Greek government bonds and guarantees from a newly-created special purpose vehicle.

The stated aim of the French proposal – reminiscent of the Brady Bonds created in the wake of the 1980s Latin American debt crisis – is "to prevent a credit event" on Greek credit default swaps. Such an event would trigger a default rating from ratings agencies.

Over in Washington meantime, French finance minister Christine Lagarde was appointed Tuesday evening as managing director of the International Monetary Fund.

"There is no room for benevolence when tough choices must be made," Lagarde said earlier this month in her interview for the post, referring to Greece. 

Lagarde has previously suggested that the European Stability Mechanism – which from 2013 will become the Eurozone's permanent bailout mechanism – should be rated AAA by ratings agencies.

Long Jeanne Silver (1977) Alex de Renzy - My duck is dead

Long Jeanne is an average looking, average acting blond haire lass with one strange difference that made her a porn star for a few short years in the late 70's. Long Jeanne had phallic birth defect.... Meaning: A stump in the shape of a huge wang! Jeanne's stump is pretty repulsive, and yet kind or erotic at the same time. She waves it around through out the film like a plucked chicken wing, but when she actually penetrates some poor miserable co-star, you have to fight your eyes to keep them from poppin' out of your head. Check this out, you'll never forget it. (That may or may not be a good thing!

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