Let's Move Out of Dollars
The U. S. government and the Federal Reserve is definitely on a course to significantly lower the purchasing power of the dollar. The collapse in sub-prime mortgages and the domino effect on major banks and mortgage lenders has placed both agencies on the horns of a terrible deli ma. Either the raise interest rates and bolster the dollar while murdering the economy or the lower rates and pump counterfeit, oops, paper dollars into the markets and kill the dollar. Neither solution will give the desired results. And each will bring a great deal of pain and suffering which elected and appointed officials earnestly desire to avoid.
I am reminded of Psalm 2:1-5: "Why are the nations in an uproar, and the people devising a vain thing? The kings of the earth take their stand, and the rulers take counsel together against the Lord and against His Anointed; "Let us tear their fetters apart, and cast away their cords from us!" He who sits in the heavens laughs, the Lord scoffs at them. Then He will speak to them in His anger and terrify them in His fury."
Their folly will not work! The path chosen will eventually destroy the dollar. A nation's prestige to a great extent is based upon the value of its currency and the integrity of its international actions. We appear to be failing in both and it is beginning to show in our loss of friends in the rest of the world. We are being more isolated daily.
I am always optimistic, because God is in absolute control of everything. There is a time and a season for everything. What many do not understand is that it is God's determined time for every event in our lives. God gives us His word as a guide for all of life. He gives us wisdom to see storms ahead and wisdom to often avoid disaster. I believe we are approaching a time of real substantial loss in the value of the dollar.
Today, I have begun to purchase more mining stocks (DROOY and a speculation BBRRF) and believe that I will continue to move out of dollars over time. It will be a slow and steady approach to these purchases and I will proceed cautiously.
Gold moved above $800 and has stayed there since November 2nd. It has bounced around between about $800 and $810+ on the bid side during this period and closed a $8.06 today. This is a 27 year high range for the metal. While it is discouraging for the dollar, it is encouraging for gold and the mining stocks.
Silver has begun to move, as well, and has stayed above $14 since about October 29th. It has trade between $14 and about $14.80 since then, closing today at $14.67. I believe that silver has some catching up ahead.
My priority schedule still stands, as follows: Precious Metals, ETFs in the metals, Mining Stocks, Natural Resource Stocks, and a small amount in stronger currencies. The defense stocks still look inviting, but I am more interested in preserving value away from dollars.
My plan may not be suitable for everyone. You must assess your risk tolerance, review your portfolio in view thereof. I am convinced that the dollar will continue to decline. If you agree, then it is important that you begin to act accordingly.
Gold is now up to $808 over night.
Remember to make your plans, commit them to Jesus Christ, implement the plans to the best of your ability and leave the results up to Him.
Best to each, Doug
I am reminded of Psalm 2:1-5: "Why are the nations in an uproar, and the people devising a vain thing? The kings of the earth take their stand, and the rulers take counsel together against the Lord and against His Anointed; "Let us tear their fetters apart, and cast away their cords from us!" He who sits in the heavens laughs, the Lord scoffs at them. Then He will speak to them in His anger and terrify them in His fury."
Their folly will not work! The path chosen will eventually destroy the dollar. A nation's prestige to a great extent is based upon the value of its currency and the integrity of its international actions. We appear to be failing in both and it is beginning to show in our loss of friends in the rest of the world. We are being more isolated daily.
I am always optimistic, because God is in absolute control of everything. There is a time and a season for everything. What many do not understand is that it is God's determined time for every event in our lives. God gives us His word as a guide for all of life. He gives us wisdom to see storms ahead and wisdom to often avoid disaster. I believe we are approaching a time of real substantial loss in the value of the dollar.
Today, I have begun to purchase more mining stocks (DROOY and a speculation BBRRF) and believe that I will continue to move out of dollars over time. It will be a slow and steady approach to these purchases and I will proceed cautiously.
Gold moved above $800 and has stayed there since November 2nd. It has bounced around between about $800 and $810+ on the bid side during this period and closed a $8.06 today. This is a 27 year high range for the metal. While it is discouraging for the dollar, it is encouraging for gold and the mining stocks.
Silver has begun to move, as well, and has stayed above $14 since about October 29th. It has trade between $14 and about $14.80 since then, closing today at $14.67. I believe that silver has some catching up ahead.
My priority schedule still stands, as follows: Precious Metals, ETFs in the metals, Mining Stocks, Natural Resource Stocks, and a small amount in stronger currencies. The defense stocks still look inviting, but I am more interested in preserving value away from dollars.
My plan may not be suitable for everyone. You must assess your risk tolerance, review your portfolio in view thereof. I am convinced that the dollar will continue to decline. If you agree, then it is important that you begin to act accordingly.
Gold is now up to $808 over night.
Remember to make your plans, commit them to Jesus Christ, implement the plans to the best of your ability and leave the results up to Him.
Best to each, Doug
posted by Doug @ 2:45 PM
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