Gold & Silver Up - Chaos Spreads
Both gold and silver are up today. This is a day which will likely have rather light trading as some are still on the Easter vacation. Intervention would be easy with lighter trading and both metals are shaping what looks as though the prices have been capped. We will know in the next hour if the boyz have moved in yet. Meanwhile gold is up 15.20 to 894.40 and silver is up 0.39 to 12.72. Both are on up ticks.
Vista Gold has been a stable among our trading stocks. It is performing well today. My cost in it has been from 1.85 to 2.04. Both HL and VGZ have held up well during corrections. Silver has performed better this year than gold by about 3%. It is likely that silver will continue to out perform gold for the time being. It has a good bit of commercial uses and is secondarily a monetary metal. By the way, both Palladium and Platinum have outperformed our precious metals. This is mainly due, in my opinion, to the intervention into the gold and silver markets.
From TownHall:
WASHINGTON -- Rampant redistribution of wealth by government is now the norm. So is this: It inflames government's natural rapaciousness and subverts the rule of law. This degeneration of governance is illustrated by the Illinois Legislature's transfer of income from some disfavored riverboat casinos to racetracks.
Illinois has nine licensed riverboat casinos and five horse-racing tracks. In 2006, supposedly to "address the negative impact that riverboat gaming has had" on Illinois horse racing, the Legislature -- racing interests made huge contributions to Gov. Rod Blagojevich -- mandated a transfer of 3 percent of the gross receipts of the four most profitable casinos, those in the Chicago area, to the state's horse-racing tracks. This levy, subsequently extended to run until 2011, will confiscate substantially more than $100 million.
What is to prevent legislators from taking revenues from Wal-Mart and giving them to local retailers? Or from chain drugstores to local pharmacies? Not the tattered remnant of the Constitution's takings clause. Read it HERE.
In most cases our elected officials and judges have moved so far beyond the rule of law upon which our nation was founded that there is very little opportunity for us to go back. The best bet is to stay out of courts whenever possible. It is a shame that the Law of God and the outworking of this into the Common Law upon which our nation was founded are no longer respected. We are in an era of man's law which is ever changing and anti-God. Truly, it is either God's Law or the chaos of today. There is no in between. We are either right or wrong.
From TownHall:
Our ability to stop the federal government from spending us, our children, our grandchildren and our great grandchildren into poverty appears inadequate. For most of the last five decades, the federal boys have spent out of control.
Today? Only more so.
Even worse, this main course of debt and diminished economic freedom invariably comes with a side-helping of reduced political rights. Read it HERE.
The debt laid upon every man, woman, and child in These United States has been estimated to be $183,000. When are you going to pay yours off? Of course, the federal government will never pay theirs either. Governments either defraud by running the currency printing presses to produce currencies worth less than that which was borrowed or simply refuse to pay at all. God says, "The wicked borrow and do not repay." Thus, governments, as well as people are responsible for payment of just debts.
From TownHall:
Last week Obama told the planet on his Dixie Chick America Sucks Euro-Tour that ol’ bigheaded America is not and has never been a Christian nation. I believe he said that right after he bowed and curtsied to the Saudi King and told the French that the US has been stuck-up meanies to their jealous and ungrateful Euro-socialist cousins. Damn you, Yankee doodle dandies.
America’s not a Christian nation? Well, it’s not a Hindu, Buddhist, Muslim (yet) or Tai Chi nation. I know Barack is auguring for the USA to become an Obamanation, but heretofore from what I’ve read regarding our founders’ beliefs and original intent for this experiment in self-government, this Republic has a massive intentional Judeo-Christian bent to it and not a religiously neutral one. Stevie Wonder can see that. Read it HERE.
Statements such as that can only be made by people who have been indoctrinated by the government schools in rewritten and politically modified history of our founding. While it is certainly true that America was never a 100% Christian nation, a great many of our founding fathers had a high regard and respect for the word of God. Over and over again George Washington and others acknowledged that without the providential blessing of God, we would never have had These United States of America. The Declaration of Independence clearly stated it and it was explicitly incorporated into the Constitution. The Constitution, also mentioned Common Law several times. Thus, the founding documents themselves testify to the fact that America was founded upon God's principles.
From Kitco.com:
A couple of reports in the American press revealed that more individuals are selling their broken and unwanted gold jewellery as the yellow metal’s price soared, while the recession blues refuse to go away. Back home, we have had a number of queries from investors considering whether or not to invest in gold via exchange-traded funds (ETFs). |
Such queries are not surprising at a time when gold is selling near $900/ounce (six years ago it sold for around $325/ounce). Not to mention the leap to over $1,000 an ounce in February. But it is not as if investors are minutely tracking the gold price. It is the presence of Gold ETFs and gold stock funds that makes them all the more aware of the performance of gold.
As on April 2, 2009, Gold ETFs delivered a one-year return of 27.01 per cent as against the diversified equity fund category return of -36.76 per cent. Currently, gold ETFs lie at the top of the heap on just about every performance table other than 1-month: 3-month, 6-month and 1-year. So even if one does not track the precious metal, just looking at the performance of these funds gives you a clear indication of the price. The failure of gold ETFs in the 1-month returns was due to the recent correction of 7.16 per cent (Mar 20, 2009 – Apr 6, 2009). Read it HERE.
There will be a gold bubble which will be very great when the third wave of the Gold Rush gets moving. Be careful for what you wish. During the gold bubble, the prices of everything we need will escalate beyond belief. Watch for the day that the U.S. Dollar is no longer the reserve currency of the world. That is the day that we will move to a much lower standard of living. We have been living off of the debt that has been supported by other nations. We have been trading worthless dollars to them for real products. This is a form of fraud which is becoming more difficult to continue. Even now, there is less interest in the purchasing of our debt by foreigners.
In spite of all the bad news, we must rest in the fact that our God is in control and likely is bringing about the chaos we are experiencing to bring us to our knees in repentance and turning back to Him. As Scripture tells us, we either obey the Lord or He will discipline us. Often He must destroy a nation to bring the people to repentance. Let us turn back to Him, before we lose all.
Best to each, Doug
posted by Doug @ 9:23 AM
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