The Dollar is Up
The dollar remained strong over night in spite of the the twin deficits and unemaginable level of debt. Governments at virtually all levels remain on a spending binge. Consummers have slowed their purchase of SUVs, trucks, and cars. The slowing is beginning to show up in the housing markets, too.
All of these factors are against a strong dollar. However, the rioting over France is putting a sell flag on the EURO. The EU may have goofed on not raising interest rates last week. The EURO is below 1.20 now and seems to be staying there for the time being. This is positive for the dollar against the EURO, but the dollar is up against almost every currency of the world. We must remember that this relative evaluation is just that.
No paper currency has any backing other than the full faith and credit of the central bank or government which controls it. Many have become worth less than the paper upon which they were printed. Many more will achieve the same end.
All governments and central banks abhore gold. Gold is not under their control in the same way the paper currencies are. Thus, gold provides freedom. Governments abhore freedom of citizens within their borders, and opt for ever more control of the masses.
In spite of the temporarily strong dollar, gold reached a high of just above 462 today, but is back down to 459.80 at this time.
My trading stock DROOY is was up to 1.27 and opened at 1.23. It is now trading at 1.26. For me it is still in buying range.
On this blog: If you are intersted in it, let me know and pass the word to others. Also, be sure to let me know how to improve it for your benefit.
In Texas, we were allowed to vote on a Constitutional ammendment today to define marriage as between a man and a woman. It is to our shame that this was necessary. God ordained and defined marriage at creation. When our Maker gives a definition (or for that matter, a law) it stands for every person past, present, and future. We dare not change His word, else, we suffer the consequences of His judgement which is sure. Their will be a day of reckoning.
Best to each, Doug
All of these factors are against a strong dollar. However, the rioting over France is putting a sell flag on the EURO. The EU may have goofed on not raising interest rates last week. The EURO is below 1.20 now and seems to be staying there for the time being. This is positive for the dollar against the EURO, but the dollar is up against almost every currency of the world. We must remember that this relative evaluation is just that.
No paper currency has any backing other than the full faith and credit of the central bank or government which controls it. Many have become worth less than the paper upon which they were printed. Many more will achieve the same end.
All governments and central banks abhore gold. Gold is not under their control in the same way the paper currencies are. Thus, gold provides freedom. Governments abhore freedom of citizens within their borders, and opt for ever more control of the masses.
In spite of the temporarily strong dollar, gold reached a high of just above 462 today, but is back down to 459.80 at this time.
My trading stock DROOY is was up to 1.27 and opened at 1.23. It is now trading at 1.26. For me it is still in buying range.
On this blog: If you are intersted in it, let me know and pass the word to others. Also, be sure to let me know how to improve it for your benefit.
In Texas, we were allowed to vote on a Constitutional ammendment today to define marriage as between a man and a woman. It is to our shame that this was necessary. God ordained and defined marriage at creation. When our Maker gives a definition (or for that matter, a law) it stands for every person past, present, and future. We dare not change His word, else, we suffer the consequences of His judgement which is sure. Their will be a day of reckoning.
Best to each, Doug
posted by Doug @ 11:31 AM
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