Fed Admits Manipulation - BYDDF a Big Winner

Here is a big winner on the way higher. Our Chinese battery and auto manufacturer (BYDDF) is a strong winner. We may have to add to portfolios at these higher prices before it continues its climb. I am thankful for such blessings and praise the Lord daily for His results!
Well, even after the Federal Reserve admits to manipulating gold prices, we see the results of continuing action by the boyz. How long O Lord? David asked this of the Lord. He knew who was actually in control when the chips were down. Note that the pattern for silver is very similar to that of gold. Obvious intervention. Nevertheless, gold presently at 1008.10 is still clinging to support at 1,000. Upward movement will depend upon breaking 1030.

Silver and gold are tracing similar curves on the graphs. Silver is 16.73 and has reluctantly pierced the 17 support level.
From TownHall.com:

Lying Propaganda

by Walter E. Williams
Michael Moore's new film, "Capitalism: A Love Story" will be released next month. I've neither seen nor read reviews of the film, except for a short piece in the London Telegraph (9/6/09) titled "Michael Moore film calls capitalism evil." Aware of Michael Moore's previous films, I know that it will be at best a misleading story about capitalism. So let's do some defensive mental preparation, not about the film but what is and what is not capitalism.

Capitalism is an economic system characterized by private ownership and control over the means of production. The distribution of goods and services and their prices are mainly determined by competition in a free market. Under such a system the primary job of government is to protect private property, enforce contracts and ensure rule of law. (Color Added) Read it HERE.

Do not let the media deceive you on the definition of Capitalism with the lies of the government and Keynesian Economist. The capitalistic free market of classical Economics has long been run out of America. America is at best a centralized socialistic form of government and at its worst is rapidly becoming ever more communistic with centralized ownership of vast portions of the economy. The present chaos comes from this trend as we have turned our backs on the Biblical capitalistic free market and the God of Scripture.

From TownHall.com:

Choosing The Right College

by Thomas Sowell

There is so much for high school seniors and their parents to know about colleges that they not only need to get a lot of information but also need to make sure it is the right kind of information.

A number of college guides have useful information but, unfortunately, the best-known and most pretentious of these guides -- "America's Best Colleges"-- is grossly misleading. . . . .

Would we not consider it absurd if someone collected statistics on people and then used those statistics to rank individuals according to who would make the "best" wife or husband? Yet that is the approach "America's Best Colleges" is based on. Read it HERE.

The general best is not always the best for the individual. Sowell is correct on this.

Big news from the Gold Anti-Trust Action Committee (GATA):

Fed admits hiding gold swap arrangements
Submitted by cpowell on Wed, 2009-09-23 02:55.

11p Tuesday, September 22, 2009

Dear Friend of GATA and Gold:

The Federal Reserve System has disclosed to GATA that it has gold swap arrangements with foreign banks that it does not want the public to know about.

The disclosure contradicts denials provided by the Fed to GATA in 2001 and suggests that the Fed is indeed very much involved in the surreptitious international central bank manipulation of the gold price particularly and the currency markets generally.

The Fed's disclosure came this week in a letter to GATA's Washington-area lawyer, William J. Olson of Vienna, Virginia (HERE), denying GATA's administrative appeal of a freedom-of-information request to the Fed for information about gold swaps, transactions in which monetary gold is temporarily exchanged between central banks or between central banks and bullion banks. (See the International Monetary Fund's treatise on gold swaps HERE .

The letter, dated September 17 and written by Federal Reserve Board member Kevin M. Warsh (see HERE), formerly a member of the President's Working Group on Financial Markets, detailed the Fed's position that the gold swap records sought by GATA are exempt from disclosure under the U.S. Freedom of Information Act.

Warsh wrote in part: "In connection with your appeal, I have confirmed that the information withheld under Exemption 4 consists of confidential commercial or financial information relating to the operations of the Federal Reserve Banks that was obtained within the meaning of Exemption 4. This includes information relating to swap arrangements with foreign banks on behalf of the Federal Reserve System and is not the type of information that is customarily disclosed to the public. This information was properly withheld from you." Read the entire article HERE.

Folks, this is an admission by the Federal Reserve that they have been actively engaged in manipulating the price of gold. We have known that something was amiss and that the likely suspect was the Federal Reserve. Perhaps, this will signal an end to this type of intervention into what should have been a free market. This intervention has robbed many investors of great wealth over the years. It is an absolute shame that our central bank and government are acting contrary to the best interest of citizens. On the other hand, what can one expect from a pagan government which is intent upon removing every reference to the Sovereign God who controls all. Thus, His judgment is falling upon America in spades. Thanks to the efforts of GATA and others, this admission by the Federal Reserve is in the open. Pass this to all your contacts. This is big news.

From SilverSeek.com:
Silver Investigation Update
By: Theodore Butler

Statement of

Commissioner Bart Chilton

Regarding the

CFTC Investigation of Silver Markets

September 21, 2009

It has now been one year since the Commodity Futures Trading Commission initiated its investigation of the silver markets. In that time, it has invested over 2,318 staff hours in this investigation, 32 individual interviews have been conducted, and approximately 40,000 documents have been reviewed. We have worked with our colleague regulators in the United States and in other nations. In addition, the agency has taken the extra step of engaging an eminent outside expert to assist in its analytical review of this matter. In sum, we’ve put an incredible amount of energy and resources into this effort.

While there are some who I’m sure wish these things could be accomplished faster, let me assure them that we are far from over in our aggressive investigation of this market. Our Division of Enforcement is leaving no stone unturned to ensure that, if there is any illegal activity going in silver, we will find it and we will prosecute it to the fullest extent of our authority under the law. The entire report is worth a read HERE.

The investigation into silver manipulation continues. It reminds me of the old saying, "Where there is smoke....." Since there has been a formal admission about the manipulation of gold, is there any doubt that the same is happening in silver? I say, there is no doubt. Perhaps, there is now a better opportunity for disclosure. Remember how Obama campaigned on a more open government. How much openness have we seen? That's right: NONE unless it is forced.

I have not yet opted for trailing stops, but am keeping the option open. We will have to watch the price of precious metals and see which way they are about to move today. Here are the miners from Scottrade's Streaming Quotes:
Most are off a bit, but there are no drastic drops. For that we are thankful to the Lord! Gold is 1,007.10 and silver 16.72 with both on down ticks. The DOW is 9805 off 23.

est to each, Doug