Americans Say No to the Bail Out - Congress Goes Ahead

Well, the bail out, (I must be politically correct) rather, the stimulus package continues to work its way through Congress against the expressed will of the citizens. The pork in the bill has been trimmed a bit, but there is still much there. The tragedy is that, though the taxpayers of today and the future will pay for it with rampant inflation, the citizens will be a long time in realizing any benefit. Most of the infrastructure "stimuli" will not be realized for many months and likely years.

While the bible and free market principles give ownership of property to individuals and businesses, the Federal Government and the Federal Reserve are grasping ever increasing ownership or greater influence over most financial institutions and many businesses. Remember that the major difference between a socialistic and communistic society is an escalation in government ownership of property. Could it be that we are headed for a succession of 5-year plans similar to those that failed in the USSR?

The bible gives ownership of property to families and not governments. Remember that as Israel divided the promised land, the families were given ownership. Further, King Ahab and Queen Jezebel died under the curse of God when the stole the vineyard from Naboth. They also plotted to have Naboth murdered. God takes very seriously the family ownership of property.

Let us pray to the Sovereign God that He will take away the sin of America and return Godly government to accomplish the simple task of protection of the life, liberty, and property of all Americans. Any other tasks taken on by a government are violations of God's Law and our Constitution.

Platinum has gathered some steam again. However, it is not very far ahead of gold in price. This is unusual as platinum's price has historically been well above that of gold. However, of late this has not been true.
The mining stocks are holding well, as the miners ETF shows above. DROOY has moved back up above $8 to $8.09; HMY is $11.32, and VGZ is $2.22.
Gold has moved quite strongly, but the deep pockets backed the Federal Reserve are waiting in the wings to make another stage entrance to cap the metals. Gold is $912.50 on an up tick.
Silver has bounced back quickly revealing the buying on dips affecting the precious metals after each hammering. Silver is $12.16 on an p tick.

The DJI are not faring as well. The index is down 326.+ to 7944.87. I do not think we have seen the end of general market sell off. There are some brighter signs; however, the question really is "Can each upward move in the DJI be a return of the bull or just a bear market rally?" No one really knows the answer at this point. Therefore, extreme caution in any buying is warranted.

From MarketWatch:

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PETER BRIMELOW

Something new stirring in precious-metals pond

Commentary: Silver's rise has letters watching for more bull-market signs

By Peter Brimelow, MarketWatch

Last update: 11:59 p.m. EST Feb. 8, 2009

New York (MarketWatch) -- Gold drifted mostly sideways last week. But investment letters report major, maybe meaningful change, below the surface of the precious-metals pond.

Although bullion made no major moves, trading in a range above $900 an ounce, the gold shares were sharply up. Read the article HERE.

From the Times UK.

Europe ambushes Germany on debt bail-out

The European Union has called an emergency summit of national leaders this month to halt the drift towards protectionism and stem the risks of a debt crisis as the slump deepens.

By Ambrose Evans-Pritchard

EU finance ministers are to discuss proposals over breakfast in Brussels today for some form of "debt-agency" or mechanism for the EU to raise bonds, a move seen by diplomats as a ploy to ambush Germany into accepting shared responsibility for EU debts – anathema to Berlin.Read the article HERE.

More from Times:

Bond market calls Fed's bluff as global economy falls apart

Global bond markets are calling the bluff of the US Federal Reserve.

By Ambrose Evans-Pritchard

Last Updated: 7:22PM GMT 08 Feb 2009

The yield on 10-year US Treasury bonds – the world's benchmark cost of capital – has jumped from 2pc to 3pc since Christmas despite efforts to talk the rate down.

This level will asphyxiate the US economy if allowed to persist, as Fed chair Ben Bernanke must know. The US is already in deflation. Core prices – stripping out energy – fell at an annual rate of 2pc in the fourth quarter. Wages are following. IBM, Chrysler, General Motors, and YRC, have all begun to cut pay.Read about it HERE.

States move to regain sovereignty from World News Daily:

Lawmakers in 20 states move to reclaim sovereignty

Obama's $1 trillion deficit-spending 'stimulus plan' seen as last straw

---

Posted: February 06, 2009
11:50 pm Eastern

By Jerome R. Corsi
© 2009 WorldNetDaily

Oklahoma Republican state Sen. Randy Brogdon

NEW YORK – As the Obama administration attempts to push through Congress a nearly $1 trillion deficit spending plan that is weighted heavily toward advancing typically Democratic-supported social welfare programs, a rebellion against the growing dominance of federal control is beginning to spread at the state level.

So far, eight states have introduced resolutions declaring state sovereignty under the Ninth and Tenth Amendment to the Constitution, including Arizona, Hawaii, Montana, Michigan, Missouri, New Hampshire, Oklahoma and Washington.Read the exciting news HERE.

Comment: This is very exciting news. Perhaps, we are returning to These rather than The United States of America. That is the way our founders saw it. The states were inter positioned between the Federal Government and the citizens of the various states. I hope that Texas joined the move very soon. As for as I know, the Sovereign Society first publicized this news a couple of days ago, but it has not made the major media yet.

Ted Butler speaks out on intervention from GATA:

Send Ted Butler's latest to Congress and CFTC

Submitted by cpowell on Mon, 2009-02-09 21:13.

4:10p ET Monday February 9, 2009

Dear Friend of GATA and Gold (and Silver):

Market analyst Ted Butler has examined the latest reports from the U.S. Commodity Futures Trading Commission and has determined that the concentration of the short position in gold on the New York Commodity Exchange has reached another record high and that the concentration of the short position in silver is not far behind. This, Butler notes, is proof of market manipulation, and it almost certainly would be acted upon by the CFTC in any markets other than gold and silver, where central banks and their investment house agents have an interest in exercising surreptitious currency intervention. Read the whole article HERE.

Comment: There is too much evidence of intervention into the precious metals markets. It cannot be denied, but the SEC is not interested in pursuing this. Do you wonder why?

The Lord has given us another beautiful day. We must daily pray for rain, as we thank Him and enjoy the blessings of beautiful weather.

Best to each of you and yours, Doug