Japan, China, and Taiwan Selling Dollars

This event was reported in Newsmax.com and the following is from the DailyPfennig.com:

"Japan cut its holdings by 4% to $586 Billion, China cut its holdings 2.2% to $400 Billion, and Taiwan's holdings slid 8.9% to $52 Billion... Japan's selling was at the fastest pace since 2000, China's since 2002, and Taiwan's since 2000"

I do not believe this is the massive leap from dollars by the central banks which is in the future, but it does show more concern on the part of the Asian holders of our debt. This is an preview of what will happen as more leave the dollar Titanic for the life boats. Of course, many are going to other paper currencies, but it seems that many are beginning to view the precious metals as a better life boat.

The other currencies are climbing as the dollar goes down today. Gold is now at 763 and silver at 12.72. Perhaps, gold has moved to a grander plateau for the time being. This is only natural as the dollar continues to lose purchasing power. Virtually all of the mining stocks are rebounding with some vigor.

We must look for dips to add to our portfolios. Keep some cash on hand for that purpose. Our silver stocks: PAAS at 30.22 up 0.52 and SSRI at 38.57 up .89. Both showing much improved life. HMY is only at 9.57 down 0.05 still under mine safety pressure.

It will be interesting to see the action on Friday.Gold is still at 762.60 with the last tic upward as this closes.

Keep you eyes and faith in King Jesus and depend upon Him.

Best to each, Doug