Precious Metals are Correction - Offering Buying Opportunities

All of this financial chaos may well be the wrath of God being poured out upon the nations of the world who have without exception instituted FIAT unbacked paper currencies clearly in violation of God's law again unequal weights. Here in These United States of America, this is a violation of our Constitution.

We must as a nation get down on our knees and pray that God will forgive us for national sins. Our national sins are legion. We murder unborn children, just as the pagan nations of the world did in the past. Even our "noble" savages in the New World sacrificed children to their gods. Generations of Americans see the government as a messiah with all the solutions for the perceived problems of today. It is not the Messiah, and only can offer solutions which are continuation of the same tactics that created the problems we face.

The New World Order spoken of by both Bushes and Clinton is simply another Tower of Babel which is against the law of God. We fail to learn from the mistakes of the past. God created the individual nations and does not intend to let us move to a World Government and its totalitarian government.

We must earnestly pray for an end to our sins. Repentance and a return to the God of the foundation of our nation is absolutely essential for any blessing of God.

Folks, the miners have broken below the 50 day moving average, as is clear on the, above, graph. Today I have been buying DROOY at just over $8 and VGZ at about $2.20. I have GTC Limit orders for DROOY @ $7.99 and VGZ @ $2.09. I have started buying small additions to my portfolios as this correction proceeds. I want more mining stocks. Also, additions to precious metals can be accumulated by buying shares in CEF, GLD, and SLV. I, also, like Everbank World Markets Metals Select Funds or James Turk's Goldmoney accounts.

Both of our precious metals clearly indicate intervention. Gold and silver are being hammered down by deep pocket banks. See the report from Casey's, below. As this is written Gold is down to 962.10 and silver to 13.81.

From Reuters:

Some U.S. jobless find hope and solace as volunteers

Tue Feb 24, 2009 12:15pm EST

By Andrew Stern

CHICAGO (Reuters) - When out-of-work accountant Jim Ammon tires of scouring for scarce job listings, he takes out his frustrations by driving in nails for new houses he volunteers to build for the working poor.

Laura Spelke volunteers at the United Way charity in Portsmouth, New Hampshire, in part to escape the sting of losing her sales job: "Volunteering is a way to stay active and stay in touch and not sit home and eat bonbons feeling sorry for myself." Read it HERE.

From Casey's Daily Resource Plus:

"One more thing today. I've been talking about JPMorgan and HSBC USA being the big gold and silver shorts. That's true...but the percentages I was using were incorrect. Yesterday I got my hands on the third quarter precious metals derivatives report for U.S. banks...and these are the actual percentages...Bank of America - 0.3%, Citigroup - 2.0%, HSBC USA - 19.1%, JPMorgan 78.5%. All the other reporting banks (hundreds of them) hold an insignificant 0.2% divided up between them. So...JPMorgan, HSBC USA and Citigroup hold 99.5% of all precious metals derivatives positions by all U.S. banks. Any further questions?"

This should prove to all that the banks are playing a game with the precious metals. There can be no doubt now. Further, I would suggest that the Federal Reserve is using the major banks as a proxy for the game.

From Reuters:

Soros sees no bottom for world financial "collapse"

Sat Feb 21, 2009 4:19pm EST

NEW YORK (Reuters) - Renowned investor George Soros said on Friday the world financial system has effectively disintegrated, adding that there is yet no prospect of a near-term resolution to the crisis.

Soros said the turbulence is actually more severe than during the Great Depression, comparing the current situation to the demise of the Soviet Union.

He said the bankruptcy of Lehman Brothers in September marked a turning point in the functioning of the market system. Read it HERE.

From The Telegraph UK:

Will Germany deliver on the Faustian bargain that created monetary union?

If Der Spiegel is correct, the German finance ministry is drafting rescue plans to prevent default on the edges of the eurozone leading to a full-blown collapse of Europe's monetary system.

By Ambrose Evans-Pritchard

Last Updated: 6:57AM GMT 23 Feb 2009

his is an entirely appropriate policy in economic terms. One dreads to think what would happen if the world's twin reserve currency were to disintegrate at this stage.

But what about the solemn pledge to voters by Germany's political elites – promiscuously given over the years – that monetary union would never leave them on the hook for the debts of half Europe?

The vast imbalances that have been allowed to build up under the seductive protection of EMU leave German taxpayers facing bail-out liabilities that exceed the cost of reparations after the First World War, in proportional terms. The political ground has not been prepared for this. EMU was foisted on the German people without a referendum, in the face of deep public scepticism and scathing criticisms by the professoriat. This failure to secure a mandate for such a revolutionary undertaking is coming back to haunt them. Read it HERE.

From Mine Web:

Gold will be the last man standing - Lou Paquette

Newsletter writer and commentator Lou Paquette believes that as people finally begin to realize that gold is the only asset we can count on any more, the bull market will "come out of its shell." He shares some of his favorite mining companies that are well-positioned to ride out these turbulent times. Interview with The Gold Report.

Author: The Gold Report
Posted: Monday , 23 Feb 2009

VANCOUVER, BC, CANADA -

The Gold Report: Lou, you have indicated that you think the bailout plan will be really good for people who own gold. Can you give us your overview of what's happening and how it's going to help those who hold gold?

Lou Paquette: You know, sometimes, it's the simple answers that are the right answers, and it's becoming obvious that the printing presses are going to get turned on and they're not going to stop. They're going to keep going 24 hours a day.

At the beginning of the gold market, it was the hard-core gold bugs that were getting bullish. And then it started to spread out to other investors who liked alternative investments, but now mainstream banks are recommending gold-banks that you never heard talk about gold before.

So, it's really spreading out to the common person right now; everybody's hearing that about the only thing we can count on anymore is gold as an asset. So, the bull market is just coming out of its shell.

TGR: The U.S. is not the only country printing money at this point; there are many countries that are doing rescue packages, also inflating their currencies. If every country in the world is inflating its currency, doesn't that kind of neutralize it all? Read it HERE.

Let us purpose to repent of our sin and turn back to the Sovereign God of all before it is too late.

Best to each, Doug