Fed Sacrificing the Dollar to Save the Economy
The dollar is in uncharted territory (low that is). It is at a 15-17 year low. From the "Telegraph UK," came the headline "Fear of dollar collapse as Saudis take fright." It reports that the Saudis with a mountain of dollar instruments may be giving up the peg of their currency to dollars and moving away from dollar reserves.
Iran has reported moving away from the dollar. Dubai is using dollars to buy 20% percent of the NASDAQ. This is a proposed purchase of the system and not the index. Thus, the country is moving to use some of their dollars.
Gold closed the week at $731 and remains in a healthy bull market trend. Silver at $13.49. Both were below their highs for the week, still in an upward trend. With silver at 13.49, the silver content of a pre-1965 U.S. dime is worth approximately 13.49 X 0.72 X $0.10 = $0.97128. Wow, it is now worth almost a dollar. One can find these at flea markets from time to time. Perhaps, the seller does not know of the silver value in the coins, so bargain with the seller before purchasing.
The mining stocks were up for the week, but also below their highs. The Dow was well up. The Federal Reserve move lowering interest rates was welcomed by the general market as well as commodities and real money. The Dow is likely to continue upward for the time being. However, caution should be used, because a correction seems overdue at this point in time. We almost never see anything increase in value without some corrections along the way.
I still suggest the use of trailing stops on stocks.
It is now the seventh day of the week, and I look forward to corporate worship tomorrow. This is a joyous occasion for the people of God. We meet together to fellowship in worship of King Jesus as all should do. If you do not, you do not know what you are missing. We live in the peace that passes all understanding on the human level even when things on earth seem to be falling apart. What a wonderful peace comes from knowing and depending upon the Sovereign ruler of all.
Best to each, Doug
Iran has reported moving away from the dollar. Dubai is using dollars to buy 20% percent of the NASDAQ. This is a proposed purchase of the system and not the index. Thus, the country is moving to use some of their dollars.
Gold closed the week at $731 and remains in a healthy bull market trend. Silver at $13.49. Both were below their highs for the week, still in an upward trend. With silver at 13.49, the silver content of a pre-1965 U.S. dime is worth approximately 13.49 X 0.72 X $0.10 = $0.97128. Wow, it is now worth almost a dollar. One can find these at flea markets from time to time. Perhaps, the seller does not know of the silver value in the coins, so bargain with the seller before purchasing.
The mining stocks were up for the week, but also below their highs. The Dow was well up. The Federal Reserve move lowering interest rates was welcomed by the general market as well as commodities and real money. The Dow is likely to continue upward for the time being. However, caution should be used, because a correction seems overdue at this point in time. We almost never see anything increase in value without some corrections along the way.
I still suggest the use of trailing stops on stocks.
It is now the seventh day of the week, and I look forward to corporate worship tomorrow. This is a joyous occasion for the people of God. We meet together to fellowship in worship of King Jesus as all should do. If you do not, you do not know what you are missing. We live in the peace that passes all understanding on the human level even when things on earth seem to be falling apart. What a wonderful peace comes from knowing and depending upon the Sovereign ruler of all.
Best to each, Doug
posted by Doug @ 8:46 AM
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