Rocky Road for Metals - Possible Buys

Our trading stocks among the miners are again offering bargain prices. Both HMY at 10.57 and VGZ at 1.60 seem to be real bargains. DROOY is holding fairly firm around 8.50. Folks, if you have none, you might want to consider nibbling off a few shares. I may be a buyer today, but may wait for even better prices. Of course, my holdings are pretty large at present. However, these are attractive prices.

Remember, it is very difficult to buy at the absolute bottom and equally difficult to sell at the top. However, in Horse Shoes and investing close is good. Our minds are finite and not nearly that of our God. He is in control and knows all. Though we are created in the image of God and have many of His attributes, our share are greatly diminished examples of His. We will never have the mind of God, but He reveals in His scriptures all we need to know for salvation in Jesus Christ and for the life we are to live.

Silver is suffering a downward move as this week begins. It is now trading at 12.65.
We still have the upward moving trough with higher lows and higher highs. The longer term trend is rather strong, but it looks like another correction. The action may follow last week which gave us three bad days and two good.
Gold is being hammered down for another correction this week. It is trading at 902.10 now.

From Yahoo News:

Too big to fail? 5 biggest banks are 'dead men walking'

By Greg Gordon and Kevin G. Hall, McClatchy Newspapers Greg Gordon And Kevin G. Hall, Mcclatchy Newspapers – Mon Mar 9, 5:19 pm ET

WASHINGTON — America's five largest banks, which already have received $145 billion in taxpayer bailout dollars, still face potentially catastrophic losses from exotic investments if economic conditions substantially worsen, their latest financial reports show.

Citibank, Bank of America , HSBC Bank USA , Wells Fargo Bank and J.P. Morgan Chase reported that their "current" net loss risks from derivatives — insurance-like bets tied to a loan or other underlying asset — surged to $587 billion as of Dec. 31 . Buried in end-of-the-year regulatory reports that McClatchy has reviewed, the figures reflect a jump of 49 percent in just 90 days. Read it HERE.

It is rumored that JP Morgan and HSBC are the biggest among the boyz playing in the precious metals markets. They have about 98% of the precious metals derivatives. Therefore, they have a vested interest in manipulation of the those markets. The Federal Reserve and Federal Government are also anti precious metals holdings by citizens.

A Video from The Telegraph: There may be more run to gold seeking safety as countries expand FIAT currencies in efforts to solve the financial situation. See it HERE.

The only things that I can see holding down the price of gold are the action of the boyz and the collapse of the general market. Gold has for the most part decoupled from commodities. Silver is following on the same track. The fact that silver is consumed in manufacturing should be a big plus for silver in the longer run as it catches gold percentage wise and even surpasses gold.

Here is another video from Bloomberg in which physical gold is seen as better than mining stocks. You can view it HERE.

The physical metals have been my first choice, but I do hold mining stocks and Canadian Trust (CEF).

It is time for caution in ALL PURCHASES. I wrote "ALL," because we are facing financial challenges not seen since the great depression. Remember that Japan is still recovering from their financial disaster of the 1990s. By the way, we are following many of their mistakes. Guess our leaders did not learn from history, by ignorance thereof. It is wonderful to see the providence of God acting in history.

Best to each, Doug