Monday & Precious Metals Are Looking Better

Well that is a much happier chart for those of us with precious metals and mining stocks. Copper still has not recovered as nicely as gold and silver, but it, too, is on the way up. Gold is at 926.10 and silver at 17.22.

Even the DJI is showing some more life 7up 239.91 at present.

We are still not out of the woods on the sub-prime fiasco. In fact, it is spilling over into much of our financial environment. The full extent will not be known for some time. The Fed has not completely solved the Bear Sterns problem yet.

We are experiencing stagflation at the least, and very likely a recession. Be careful on spending and use foregone consumption dollars to lower debt. The dollar is showing a bit of strength, but that is temporary unless all the central banks of the world come to the aid of our sick dollar. I still believe that the time is near when other central banks will lower their dollar reserves in favor of the Euro. We must keep in mind that all currencies of the world are fiat paper currencies backed by nothing. They are created out of thin air mostly by computer clicks.

There is still a need for rain in Texas. Once again, we are very dry here. Nevertheless, the Lord knows what is in our best interest, so we will confidently wait upon Him. He will care for us in His time which is not necessarily ours. Most of us tend to be impatient. However, we will rest in the Lord.

Best to each, Doug