Central Banks Begin a Cut Back in U. S. Dollars
Good Lord's Day morning. I trust that each of you is preparing to join in corporate worship. That should be a very important part of your weekly activities. The Lord requires it!
The central banks of the world have cut their holding of the dollar. This first indication is very small in comparison with their total reserve holdings. It is; however, a turn from what has been normal for many months and years.
Also, Mr. Putin is rattling the saber again, since the U. S. is violating the terms of the treaty to reduce placement of troops and strategic weapons closer to Russia. The threat is real, and unless the U. S. backs off, we will be in yet another cold war. That would mean an arms race which we cannot afford. Of course, the U. S. is on a spending binge presently which we cannot afford without creating trillions of dollars out of nothing and destroying the purchasing power of the dollar.
The manipulated consumer price index was published this week showing little to no price inflation. Of course, none of us have noticed any price inflation, have we? Fuel, food, and utilities continue to climb. Added to that is the recent increase in long term interest rates which have put more pressure on the price of houses. Thus, it is taking more dollars to service much of the debt that we are carrying.
Gold has returned a bit this week and closed at $654.50 -- up for the week. Even the mining stocks have responded with higher prices. I reported purchases of DROOY last week. The closing price was above my cost already. I look for opportunities to buy ounces of gold and mining stocks. Silver is looking good, too!
I will be out of pocket for most of the week, but will try to update on Thursday or Friday.
Get on to worship service. Best to each,
Doug
The central banks of the world have cut their holding of the dollar. This first indication is very small in comparison with their total reserve holdings. It is; however, a turn from what has been normal for many months and years.
Also, Mr. Putin is rattling the saber again, since the U. S. is violating the terms of the treaty to reduce placement of troops and strategic weapons closer to Russia. The threat is real, and unless the U. S. backs off, we will be in yet another cold war. That would mean an arms race which we cannot afford. Of course, the U. S. is on a spending binge presently which we cannot afford without creating trillions of dollars out of nothing and destroying the purchasing power of the dollar.
The manipulated consumer price index was published this week showing little to no price inflation. Of course, none of us have noticed any price inflation, have we? Fuel, food, and utilities continue to climb. Added to that is the recent increase in long term interest rates which have put more pressure on the price of houses. Thus, it is taking more dollars to service much of the debt that we are carrying.
Gold has returned a bit this week and closed at $654.50 -- up for the week. Even the mining stocks have responded with higher prices. I reported purchases of DROOY last week. The closing price was above my cost already. I look for opportunities to buy ounces of gold and mining stocks. Silver is looking good, too!
I will be out of pocket for most of the week, but will try to update on Thursday or Friday.
Get on to worship service. Best to each,
Doug
posted by Doug @ 9:50 AM
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