No Free Markets - Only Manipulation

Remembering that we no longer have free markets, we now have intervention and manipulation of all markets. It seems that the bullion banks want gold capped at 940 for the time being. Therefore, we should watch the price of gold and as it approaches 940 or goes just over, we should think trailing stops on the miners. This is particularly true if we have paper profits in some of them. I never until the end sell all of my miners, so I put trailing stops on a portion. Often, I will sell at a limit price as the price of gold rises, to obtain cash for the next slam to buy back in when prices are forced down.

Here are some of our miners with the current price and (less than price where I would consider buying). AUY 9.06 (8.25); DROOY 8.19 (7.25); HL 2.75 (2.65); HMY 9.65 (8.00); SLW 8.40 (8.00), and VGZ 1.80 (1.60). The gold cap seems to be $940 and $14 seems to be the cap for silver. Gold is now 927.60 down 12.70 and silver is 13.31 down 0.39. Both are on down ticks. All the miners are off some today.

From CoinLegislation.com:

Fair Treatment for Precious Metals Investors Act

S.1367: Fair Treatment for Precious Metals Investors Act

Summary: Seeks to amend the Internal Revenue Code of 1986 to treat gold, silver, platinum, and palladium investments in the same manner as stock and mutual fund investments for the purposes of the capital gains tax rates imposed. Read the article HERE.

This would help the metals, but is a small concession in view of the flagrant manipulation of the metals markets.

From TimesOnLine.co.uk:

How the ECB’s fig leaf has completely withered away

Anatole Kaletsky: Economic view

Now that the global recession appears to have passed its low point, panicmongers in the media and financial markets are shifting their attention from deflation to inflation — and especially to the debasement of the dollar by the money-printing operations of the US Federal Reserve. Read it HERE.

It is a race between the ECB and Fed Reserve to see which one can pump the most FIAT currency into the economies. We are "winning" so far.

From Bloomberg.com:

CFTC Looking at All Options for Fair Markets, Gensler Says

Read the article HERE.

Interestingly, there is no mention of the precious metals in this article. Perhaps, the government is too interested in keeping gold and silver capped by any means.

From of all places Rolling Stone Magazine: "The world's most powerful investment bank [Goldman Sachs] is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money." - Matt Taibbi, Rolling Stone magazine, June 2009 If you would like to have the article let me know at drewdeb@swbell.net and I'll send it to you.

Let us recall the strong Christian environment of the founding of this nation which would not exist except for the sacrifice of many and the grace and providence of Jesus Christ. This Fourth of July, let us rededicate ourselves to Jesus Christ and seek a great awakening within our nation. We have left our great God as a nation and have become a nation which worships the false messiah: the State. We must turn back before it is too late. The Lord is warning us with the judgment which is falling up us from His hands as a call to return to Him.

Best to each, Doug