This is Likely a Good Shopping Season
With gold today at 671.60 down about 12.80, it may be a good time for shopping in the precious metal and the mining stocks. Silver is down 0.26 at 13.09 which is a good price. Remember that we have about six more weeks until the fall when the precious metals are historically expected to rise in price.
Speaking of shopping, I just bought some more of the new (DROOY) DROOD at 6.95 which is down a good bit from its 7.95 high of this week. It may be time for you to look at the price of gold, silver, and mining stocks with an eye toward picking up some. Risk only that with which you will be comfortable. It is not wise to go beyond your comfort level. Worry is the road to all sorts of illnesses.
The dollar has continued to take a beating this week with the EURO at 1.376 dollars pushing toward 1.40. It is likely to go to 1.40 this year.
The dollar index is at historic lows. This will be uncharted territory should it break through and remain below 80. The movement from there will be a new experience should it happen. If it does, I would expect the dollar to move much lower, but that is only speculation. In my opinion there is just too much against the dollar.
A lower dollar should have the benefit of increasing our international exports by lowering the price of our goods and services in relation the value of other currencies. We must always keep in mind that the currencies of the world have value only in relation to other currencies since none are backed by anything substantial. Ours is backed by the faith and credit of the U.S. government which has a debt in excess of the sum of the debt of most of the governments of the world combined. In other words, we are bankrupt. We stay afloat only by the desire of other governments and central banks to lend to us to fuel our spending binge.
Meanwhile, we are told that price inflation is being well controlled. Without food and energy, this may well be true. However, you and I know as we buy or groceries and feed our hungry autos, prices are rising quite rapidly. In fact, it is becoming more difficult to keep our tummies and fuel tanks full. The impact is spilling over into our heating and cooling requirements, as well. So the true price inflation brought on by the increase in dollars and debt is much higher than reported.
Thank goodness, that our Sovereign God is in control of everything. Further, He works all things for the eventual good of His people. Let us continue to praise Him in all situations.
Best to each, Doug
Speaking of shopping, I just bought some more of the new (DROOY) DROOD at 6.95 which is down a good bit from its 7.95 high of this week. It may be time for you to look at the price of gold, silver, and mining stocks with an eye toward picking up some. Risk only that with which you will be comfortable. It is not wise to go beyond your comfort level. Worry is the road to all sorts of illnesses.
The dollar has continued to take a beating this week with the EURO at 1.376 dollars pushing toward 1.40. It is likely to go to 1.40 this year.
The dollar index is at historic lows. This will be uncharted territory should it break through and remain below 80. The movement from there will be a new experience should it happen. If it does, I would expect the dollar to move much lower, but that is only speculation. In my opinion there is just too much against the dollar.
A lower dollar should have the benefit of increasing our international exports by lowering the price of our goods and services in relation the value of other currencies. We must always keep in mind that the currencies of the world have value only in relation to other currencies since none are backed by anything substantial. Ours is backed by the faith and credit of the U.S. government which has a debt in excess of the sum of the debt of most of the governments of the world combined. In other words, we are bankrupt. We stay afloat only by the desire of other governments and central banks to lend to us to fuel our spending binge.
Meanwhile, we are told that price inflation is being well controlled. Without food and energy, this may well be true. However, you and I know as we buy or groceries and feed our hungry autos, prices are rising quite rapidly. In fact, it is becoming more difficult to keep our tummies and fuel tanks full. The impact is spilling over into our heating and cooling requirements, as well. So the true price inflation brought on by the increase in dollars and debt is much higher than reported.
Thank goodness, that our Sovereign God is in control of everything. Further, He works all things for the eventual good of His people. Let us continue to praise Him in all situations.
Best to each, Doug
posted by Doug @ 9:27 AM
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