Precious Metals Showing Upward Bias
After all of the bad and worsening economic reports of last week, precious metals are flexing muscle this week. Last night Gold hit a high of about $947, and silver hit about $18.50. However, as NY opened, both were slammed down: Gold to about $930 and Silver to about $18. The last trade on each were, as follows: Gold $937.10 and Silver $18.24. Both showed strength after being slammed early on today.
Looking at the un-backed paper currencies: Euro is at 1.5717, Cdn Dollar - 0.98, and Swiss Franc - 0.9747. No currencies are backed by real money: gold or silver. All are simply paper which has value only in comparison to other currencies.
The price inflation in ECM is about 4% which is above the target of 2%. This will not long be tolerated by the ECB, so we should expect a correction in the price inflation or there will be an increase in the interest rates in Europe. That would put more downward pressure on the dollar.
It seems that the Federal Government and Federal Reserve are pulling out all the stops to avoid recession and depression. Thus, we are experiencing stagflation with a good deal of price inflation which exceeds prevailing income. Look forward to lower standard of living.
It is certainly time for frugality in spending and building an emergency fund to cover unforeseen expenses without further expansion of family debt. It is a good time to begin to lower debt as much as possible and avoid all increase in debt. Pay cash or pay off all credit cards monthly to avoid paying the exorbitant interest rates, thereon.
When God in Genesis 1:28 told Adam and Eve to "Be fruitful, multiply, fill the earth, subdue it, rule over all living things," he gave them a tall order. Virtually the same marching order was given to Noah after the flood in Genesis 9:1, 2, 7, as well as to Jacob in Genesis 35:11.
This commandment is for us, as well, and we are bound to fulfill it to the best of our ability with the help of the Holy Spirit. I would suggest that the first task is to bring ourselves under this dominion. That is, we are to develop self discipline: to control ourselves completely in accordance with the Law Word of God. We are to discipline all areas of our lives. Proper stewardship of all which God has entrusted to us is totally a matter of self discipline. None of us, least of all myself, is a master of this task. It is too much for any person without the in working of the Holy Spirit by His guidance and strength. Pray that He will come and correct all parts of our lives to bring them into conformity with the Law Word of the Sovereign God.
It is easy to blame the government, the situation, and others. However, many times the problem is within our selves. These are the times, we must admit our failures and turn to the living God for His forgiveness and help in our quest to be more like Him. Praise to God for His pricking of our conscience in every on of these cases.
Best to each of you and yours, Doug.
Looking at the un-backed paper currencies: Euro is at 1.5717, Cdn Dollar - 0.98, and Swiss Franc - 0.9747. No currencies are backed by real money: gold or silver. All are simply paper which has value only in comparison to other currencies.
The price inflation in ECM is about 4% which is above the target of 2%. This will not long be tolerated by the ECB, so we should expect a correction in the price inflation or there will be an increase in the interest rates in Europe. That would put more downward pressure on the dollar.
It seems that the Federal Government and Federal Reserve are pulling out all the stops to avoid recession and depression. Thus, we are experiencing stagflation with a good deal of price inflation which exceeds prevailing income. Look forward to lower standard of living.
It is certainly time for frugality in spending and building an emergency fund to cover unforeseen expenses without further expansion of family debt. It is a good time to begin to lower debt as much as possible and avoid all increase in debt. Pay cash or pay off all credit cards monthly to avoid paying the exorbitant interest rates, thereon.
When God in Genesis 1:28 told Adam and Eve to "Be fruitful, multiply, fill the earth, subdue it, rule over all living things," he gave them a tall order. Virtually the same marching order was given to Noah after the flood in Genesis 9:1, 2, 7, as well as to Jacob in Genesis 35:11.
This commandment is for us, as well, and we are bound to fulfill it to the best of our ability with the help of the Holy Spirit. I would suggest that the first task is to bring ourselves under this dominion. That is, we are to develop self discipline: to control ourselves completely in accordance with the Law Word of God. We are to discipline all areas of our lives. Proper stewardship of all which God has entrusted to us is totally a matter of self discipline. None of us, least of all myself, is a master of this task. It is too much for any person without the in working of the Holy Spirit by His guidance and strength. Pray that He will come and correct all parts of our lives to bring them into conformity with the Law Word of the Sovereign God.
It is easy to blame the government, the situation, and others. However, many times the problem is within our selves. These are the times, we must admit our failures and turn to the living God for His forgiveness and help in our quest to be more like Him. Praise to God for His pricking of our conscience in every on of these cases.
Best to each of you and yours, Doug.
posted by Doug @ 10:01 AM
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