Tea Party Success - Precious metals on the way up!

This Tea Parties expressed concern of citizens over the bad symptoms of our present economic problems.

From TownHall.com:

Monday, April 20, 2009

Tea Parties: What's Next?

by Sabrina L. Schaeffer

The country witnessed a level of political engagement last week that we haven’t seen in decades. Thousands of Americans turned out in cities across the country to demonstrate their frustration and dissatisfaction with the current tax and spend policies of both political parties.

The estimated 2000 tea parties that blanketed the nation on Tax Day were more than a protest of the $180 billion economic stimulus package passed last spring. They were more than a response to the $345 billion housing bailout passed last summer. And they were more than a reaction to the reckless $787 billion “Recovery and Reinvestment Plan” Congress rushed through and President Obama signed this past winter. Read the article HERE.

I know that each of us is against the excesses in taxation and spending on the part of all our governments. So statements, such as this, are bound to grow. Perhaps, this is what is feared by the Federal Government as they have published the Homeland Security message on labeling conservative, law-abiding citizens as potential enemies of the state.

I would suggest two actions that Christians should take. 1. We should be praying that protests will remain peaceful. 2. We should heed God's promise to us in 2 Chronicles 7:14, as follows: "If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land." We, as sons and daughters of the Sovereign God must shoulder the responsibility of restoring our nation by heeding this promise of our God.

The second suggestion ignores the symptom of excess taxation and reaches to the heart of America's problem. We, as a nation have turned from the God Who through His providential care created our nation. He not only created it, but sustained it and blessed it for many decades. However, as we turned from Him to the state as our messiah, He has taken away the blessings and is disciplining us as He disciplined the Israelite nation in Old Testament times. His goal is to bring us to repentance that we may be restored to Him as the prodigal son in the parable of Christ.

Both silver and gold are up early today. Silver is showing a moderate slow climb, but gold, below, has sprinted forward.
Gold is 884.10 up 15.40 and silver 12.14 up 0.25. Both are on up ticks. Here are our miners: DROOY 7.16; HL 2.13; HMY 8.65, and VGZ 2.11. The DOW is down 227 at 7904.49. Thus, we see that the general market is once again demonstrating the bear trend. Whereas, the precious metals, though slammed last week, are rebounding. I imagine they will be slammed again, but the manner in which they spring back indicates that without the intervention, they would be much higher. That day will come and we will have to be patient longer.

DROOY and Harmony are in good buying ranges, but there is apparently some more labor unrest in South Africa with unions demanding 15% increase in pay and benefits. Labor unions are another form of intervention with which we could do without very nicely. Labor unions tend to raise the cost of production of all industries in which they are action. The cost is most often passed on to consumers. We should long for the return of free markets throughout the world.

From Telegraph UK:

Gold: Traders remain bullish as hedge fund managers buy gold futures

Gold is set climb this week on speculation the decline in prices may boost demand from jewellers and other buyers of the physical metal, say analysts

Gold is expected to climb this week on speculation the decline in prices may boost demand from jewellers and other buyers of the physical metal. Fourteen of 34, or 41 percent, of traders, investors and analysts surveyed by Bloomberg News said gold would advance this week. Eleven of them forecast lower prices and nine were neutral. Read the article & view the video HERE.

From Emirates Business:
Jewellery demand ticks up as gold prices decline

By

Reuters on Monday, April 20, 2009

Gold edged higher in Europe on Monday, with physical buyers such as jewellers hunting bargains after last week's price decline. A firmer dollar kept a lid on gains, however.

A second consecutive daily decline in holdings of the world's largest gold-backed exchange-traded fund, New York's SPDR Gold Trust, has also raised fears investors are selling the metal to buy back into other assets such as stocks. Read the article HERE.

From The Daily Pfennig:

"OK... A bad day a the office for the euro and other currencies on Friday, and then last night in the overnight markets... European Central Bank (ECB) President, Trichet, once again deep-sixed the euro with talk of further rate cuts. He did attempt to water down the message by saying that "any rate cuts would be measured 25 BPS cuts" Memo to Trichet... It doesn't matter what the size of the debasing is, as long as you are going to debase your currency, the markets will make you pay for it!"

Once again, the rhetoric from ECB to lower the perceived value of the Euro. This gave the dollar another temporary boost. Were the ECB to lower interest rates again, the world's central banks are likely to follow suit to "save" their individual economies. However, many, including the US, are already as low as they can go.

From MineWeb.com:

Gold and silver crucial for cash preservation - The calm before the storm

SilverStrategies.com editor Sean Rakhimov expects the economic crisis may go on for a generation even with (or because of) all the government intervention. Interview with the Gold Report.

Author: The Gold Report
Posted: Saturday , 18 Apr 2009

VANCOUVER, BC -

The Gold Report: Sean, when we last spoke, in December, there was more anxiety about the state of the market, particularly as far as determining the bottom. What's your view now that we've actually had some decent financial indicators come out in the last week or so?

Sean Rakhimov: I take a much longer-term view and, basically, the way certain things - like metal prices or market bottoms - are going to react is going to depend largely on what happens elsewhere, mostly with the government. The things we're trying to analyze are not masters of their own domains, so to speak. I think a lot of this money printing that has been taking place is starting to filter into prices and it's showing in metal prices, it's showing in grocery prices, it's showing in all kinds of prices. Read it HERE.

Let us get serious about repenting before the Sovereign God and turning back to His ways in response to His discipline of our nation. Because, He disciplines and calls us back to Himself is evidence of the great love He has for His people. Go before Him daily in prayer, study His word faithfully, and live your life for Him. This is life! Not to do so is death.

Best, Doug