Thoughts on Markets

Tuesday, May 20, 2008

Precious Metals vs. Unbacked Paper Currencies III


It seems that both silver and gold have gained some steam for their upward motion. Both have had substantial gains in the early New York trading. Silver is at 17.40 and gold 917.

The mining stocks are responding, also. Here are a few: CDY 3.45, CDE 3.39, DROOY 8.64, GDX 48.35, GFI 14.05, GSS 3.11, HMY 12.66, IAG 6.51, KGC 21.10, MRB 7.88, NEM 49.75, PAAS 35.74, SLW 14.77, SSRI 30.72, VGZ 3.59, and XRA 4.58. For the EFTs and Trusts: CEF 12.73, GLD 90.59, and Slv 172.22. Almost all are up.

We must always keep in mind that the producers of unbacked paper currencies hate gold and silver and fear that the precious metals might become used in place of the paper notes they control. This fear leads them to manipulate to the extent possible prices of the precious metals. It is not the free market for which the foundations are protected under Biblical law.

The Bible prescribes private family, not state, ownership of property. This is found explicitly after Israel had captured the God promised land from the pagans in Joshua 14-17. The right of private ownership is further strengthened in the incident of King Ahab and Queen Jezebel as they murdered Naboth and stole his vineyard, as recorded in 1Kings 21. Remember that King Ahab coveted Naboth's vineyard so much that he was downhearted and ill since Naboth would not sell it to him. Queen Jezebel pitted her husband and devised an evil plan. She set up a pretense of honor for Naboth and then had him murdered. Then she presented the vineyard to her husband. God intervened and had both King Ahab and Jezebel killed.

Thus, the principle of private ownership of property is very serious in the eyes of the Sovereign God of all. What governments do today under the guise of "the right of eminent domain" is no less abominable to God than the sin of Ahab and Jezebel. Of course, it may not seem as severe, but it is the taking of private property by the force of government from rightful private owners without their consent. A payment of government's idea of "true" market value does not gain the blessing of God. A legal contract must have the agreement of both parties without duress. This is not the case in exercise of the assumed "right" of eminent domain. Thus, in God's eyes, it is a sinful act of government.

I plan to include more on the free market in future postings on this blog. Stay tuned for more.

We must all heed the command of God found in II Chronicles 7:14, "If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land." It takes the action of only His people to heal a pagan government that is leaning away from the God of all and from the Constitution it is pledged to obey. The promises of God can be trusted and freely claimed before Him in pray. Let us join in daily following these actions in our individual and family lives and claim this promise before Him. I pledge to do so.

Best to each, Doug

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