A Look at the Dollar, Gold, & Miners - Where will you spend eternity?
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From the Telegraph London:
British banks revolt against Obama tax plan
British banks and stockbrokers may refuse to take on American clients if new international tax proposals outlined by President Obama are passed.
By Louise ArmitsteadThe decision, which would make it hard for Americans in London to open bank accounts and trade shares, is being discussed by executives at Britain's banks and brokers who say it could become too expensive to service American clients. The proposals, which were unveiled as part of the president's first budget, are designed to clamp-down on American tax evaders abroad. However bank bosses say theyare being asked to take on the task of collecting American taxes at a cost and legal liability that are inexpedient. Read the article HERE.
More of Obama's war against the people. There will be more to come. The move beyond socialism is in full swing. Of course, G W Bush moved strongly in the same direction. By the way, where is the promised change?
From online.Barrons.com:
The Housing Hurricane Will Howl Again
By MIKE MORGANWE'RE OUT OF THE EYE OF THE HURRICANE, but here comes the back half of the storm. A lot of people think that we've seen the worst of the housing crisis. They're talking about green shoots and glimmers of hope, when they should be back in the storm shelter, preparing for a flood of inventory that will overwhelm the markets and produce another round of falling prices. Read it HERE.
I thought that most "economists" thought the housing bubble burst was over. Perhaps, this increasing interest rates, though very slow, are having a rational impact. Borrowers have to pay higher rates and jump through higher hoops for loans. That hurts!
From MineWeb.com:
A collapsing dollar could push gold back above $1,000
With analysts and economists beginning to focus again on the potential for a dollar collapse in the light of the huge US deficit and a major increase money supply, gold could test new highs in the next few months.
Author: Jan Harvey and Veronica BrownPosted: Wednesday , 27 May 2009
LONDON (Reuters) -
Dollar weakness could prove a boon to gold, pushing prices to new highs for the year above $1,000, as the influence from stock markets and attitudes toward risk wane in favour of its traditional driver.
Last week's dollar tumble saw investors look anew at its fundamentals at a time when gold-specific factors were lacking, leaving the metal to move unfettered through key resistance at $935.50 and hit 8-week highs above $960.
On Wednesday gold was trading around $950 an ounce. Read it HERE.
I expect gold to trade above $1000 this year. The big question is can it surpass $1000 and move higher as the third phase continues. The downside is that this would mean hyperinflation of the type of 1979-1980. That means that prices which are already moving higher would be much higher. Not much fun! But forewarned we can better prepare.
Cold, hunger and job losses ignite dissent in Russian town
Impoverished workers resort to eating salads of weeds and nettle soup
The Kremlin's worst fears are being played out in a small town outside St Petersburg, as angry residents of crisis-hit Pikalevo marched upon the offices of the local mayor and demanded improved living conditions. Read it HERE.
Perhaps, we can avoid this for the most part. I pray so!
"The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists. - Ernest Hemmingway...Notes on the Next War: A Serious Topical Letter...1935"
That has often been the course of history. Will it happen again? War is normally the result of trade wars as each nation escalates the barriers to trade. I wonder if wars can result when a world reserve currency is threathened to be dethroned. Guess we will see before too long if China has its way.
No one on earth knows the exact timing of economic or any other events. However, as we study and apply God's word to every area of life, we can predict with some accuracy the results of actions taken in the world today. The question of when the results will be seen is in the hands of the Sovereign God who has planned and is executing His plans. We do know that King Jesus will one day in the future be sitting on the White Throne of Final Judgment before which the living and the dead will appear for the final judgment. His people, the sheep, will be given an eternal life in close fellowship with our King in a world restored to a wonderful condition with neither sin nor the damage done by sin. Those who are the lost goats will be condemned to an eternal life away from our King in a terrible place of continued pain, the bible calls Hell. This is fact.
You beliefs do not change facts. But they do have everything to do with your future life. I suggest you diligently study the scriptures and find a church which accurately presents the word of God, administers the only three sacraments ordained by Jesus Christ and exercises discipline over its member. These are the measures of the true Church, the Body of Christ. Let us praise Him daily for His providential care of us and daily ask for a return of our leaders and citizens to Him as the Lord and Master He is.
Best to each, Doug
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