re: Why aren't precious metals spiking?

quote:

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While this is true, if Greece defaults could lead to the other PIIGS (Portugal, Ireland, Italy, Spain) to leave the euro as well.

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And I think that is part of the big issue with Greece & the EU. If there is a Greek exit from the EU, it could spark a chain reaction from these nations too. The PIGGS are close to the same situation as is Greece.

Another big on is that the Brits are threatening to leave the EU. If the Brits leave, the EU is pretty much toast.

Further complicating the whole issue, is the Chi-coms and the Rooskies are dangling carrots in front of the Greeks.

If the EU(Germany) tells Greece to hit the road, Greece could fall into the arms of either China or Russia.

Its a huge mess.