Precious Metals & All Markets Correcting Now

The two graphs (Gold & Silver) tell the story today. Both metals are below their 50 Day MA and in a severe correction. It could have been orchestrated by the bullion banks funded by the Federal Reserve as many believe, but then we may never know. After all, we have not yet ever had an audit of the Federal Reserve which refuses to let Congress know what they did with all the funds handed over to the banking system which did not trickle down to the average Joe on the street. Thus, we are seeing another campaign lie about the "new openness" of government. Of course, I realized that the Federal Reserve is not part of the government. However, it is a vital part of our banking system, particularly, that of the banks "to big to fall." We should really strive to have the Federal Reserve abolished. The audit is simply a first baby step in that direction. Perhaps, the audit would reveal sufficient evidence to force abolishment.



WOW! Silver below $17 and on successive down ticks. That means that Silver Eagles and Maple Leafs should be available for < $20. I bought yesterday at $20.52 and saw that as a bargain. This is even a greater bargain, and there are likely to be even greater bargains ahead. How deep the corrections will go is not known by us on earth. We can only make, at best, educated guesses. Only the Lord knows for certain, because He is controlling even the correction. He controls everything and everybody, but we still have the individual and collective responsibility to obey Him and enjoy Him forever. King Jesus is a rewarder for obedience and a punisher for disobedience. His word never returns void.

From TownHall.com:

Are Republicans "Due"?: Part IV

by Thomas Sowell

During this election year, and in the presidential election year of 2012, Republicans will not only do battle with the Democrats but with each other. How they handle both battles may have more to do with the outcomes on election days than do the polls showing public disenchantment with the Democrats.

A long-standing battle within the Republican Party, going back at least as far as the 1940s, is between those who want the party to clearly differentiate itself from the Democrats and those who seek a broader appeal by catering to a wider spectrum of social and ideological groups. Read it HERE.

From TownHall.com:

At War or Not At War? That Is the Question

by Oliver North

WASHINGTON -- "We are at war." So said the 44th president of the United States on Jan. 7. Those four words, a profound statement of the obvious, were uttered belatedly as our commander in chief transitioned from tropical sunsets on his "Hawaiian holiday" to klieg lights at the White House in the aftermath of the Christmas Day "near-miss" terror attack aboard Northwest Airlines Flight 253 en route from Amsterdam to Detroit. The phrase was startling because it wasn't an affirmation of a mindset President Barack Obama brought to office. Rather, it was the reluctant admission of facts Mr. Obama has spent a year in office diligently trying to deny.

A year into this presidency, the so-called mainstream media and those who sample American public opinion are assessing what has changed and trying to explain the remarkable plunge in the president's approval rating. Read it HERE.

From MoveYourMoney.com: An idea that may have merit to punish the banks which have taken TARPs, etc. and used many of the dollars to pay bonuses to the executives who caused much of the financial woes of today. The site, also, has a window where you can search for smaller community banks in your Zip Code area. The latest videos are HERE.

From OnLineWSJ.com:

Proposal Set to Curb Bank Giants

By DAMIAN PALETTA and JONATHAN WEISMAN

WASHINGTON—President Barack Obama on Thursday is expected to propose new limits on the size and risk taken by the country's biggest banks, marking the administration's latest assault on Wall Street in what could mark a return, at least in spirit, to some of the curbs on finance put in place during the Great Depression, according to congressional sources and administration officials.

The past decade saw widespread consolidation among large financial institutions to create huge banking titans. If Congress approves the proposal, the White House plan could permanently impose government constraints on the size and nature of banking. I have mixed feelings on this one. You can read it HERE and decide for yourself.

A quote from Ed Steer's Gold and Silver Daily: ""As an American, I am not so shocked that Obama was given the Nobel Peace Prize without any accomplishments to his name... but that America gave him the White House based on the same credentials." - Newt Gingrich"

The Miners from Scottrade.com:

The currencies from Kitco.com:

Some prices: FVITF 2.16; HL 5.32; BYDDF 7.16; Gold off 5.80 to 1087.30; Silver off 0.42 to 16. 95, and DOW off 31 to 10358.

These stocks are in a good buying range, but I am not buying at this level. Of course, I have these in my portfolios, so they are not needed unless the price goes lower, then I would likely add to my holdings. For the time being I am watching and waiting for better buying opportunities or an end to the correction when I would jump in strongly.

Think about Silver Eagles or even junk silver at these prices. Junk silver is U.S. Dimes and Quarters minted prior to 1965 which are about 90% silver.

Best to each, Doug