Correction in Full Swing - Silver Eagles at Lower Prices

God is in His Heaven and all is well, because we know that He is in control. King Jesus is at His right hand to ever intercede on behalf of His people. We can rest peacefully because He lives and rules.

Folks, The intervention is once again obvious. This is not normal market activity and the boyz are now hitting us when we are already down. Notice that silver is below 18 making the Silver Eagles available at very near $20. I bought yesterday at $20.52. May have to get some more soon, but I will wait a while on that.


From UncommonWisdom.com: Here is a video on China. See it HERE.

Of course, this is one company's view, but it is interesting and provides some insight into thoughts on China.

From MoneyWatch.bnet.com:

Is There Gold in Fort Knox?

Buried inside a 109,000-acre U.S. Army post in Kentucky sits one of the Federal Reserve’s most secure assets and its only gold depository: the 73-year-old Fort Knox vault. Its glittering gold bricks, totaling 147.3 million ounces (that’s about $168 billion at current prices), are stacked inside massive granite walls topped with a bombproof roof. Or are they?

It’s hard to know for sure. Few people have been inside Fort Knox, a highly classified bunker ringed by fences and multiple alarms and guarded by Apache helicopter gunships. When the U.S. finished building Fort Knox in 1937, the gold was shipped in on a special nine-car train manned by machine gunners and loaded onto Army trucks protected by a U.S. Calvary brigade. And the fort has been pretty much off limits since then. A U.S. Mint spokesman said in an email statement to MoneyWatch that the accounting firm KPMG, which audits the Mint, “has been present in the vault at Fort Knox.” The Mint won’t comment on exactly how much gold is in there, though. Read it HERE.

There has been much speculation on the amount of gold in Ft. Knox. You should recall that Pres. Nixon shut the vault door to foreigners when De Gaul was bringing all the dollars to the U.S. and exchanging them for gold after WWII. The door was shut by Nixon on August 15, 1971. How much gold is left there? Another question is who owns the remaining gold? These have been asked for decades with no satisfactory answers being provided.

From Ed Steer's Daily Gold and Silver Report:

"As Ted Butler said in commentary to his private subscribers yesterday... "There was nothing accidental about this move down in silver and gold". And as I, dear reader, have stated many times before [and earlier in this commentary], it's the concentrated short sellers that engineered this whole thing... mainly JPMorgan. There's no way of knowing how long this price decline will last, either. It will be over when 'da boyz' have covered as many shorts as they possibly can. That's why Butler has been screaming about position limits [and phony trading exemptions] in silver for more than 25 years. Maybe something will be decided when the CFTC has its meeting about this very thing in early March.

But, for the moment, JPMorgan et al are giving the 'driver's salute' to everyone... including CFTC chairman Gary Gensler. This a crime-in-progress in every sense of the word... and all we can do is sit and stew... while the police watch the goings-on with their hands in their pockets."

Here are the miners from Scottrade.com:

Here are the currencies from Kitco.com:
This correction is running its course and many of the miners are in good buying ranges. I am trying to resist the urge to begin buying, but the buying time seems to be only days or a week away.

Here are some prices: FVITF 2.35; BYDDF 7.36; Silver off 0.48 to 17.39 (Silver Eagles must be less than we have seen them for some time); Gold off 20.40 to 1090.90; DOW off 168 to 10436.44.

We will have to watch the prices of the precious metals very closely. All and the miners are in a good buying range which we do not want to miss. I will try to let you know what buying I am doing when I go for it.

Best to each, Doug