$5,000 Gold a Mixed Blessing? - Big Brother Controls Citizens

It is nice to have the precious metals in a higher trading range. The correction may not be completely over, but both metals are higher.

From the Telegraph.co.uk:

California is a greater risk than Greece, warns JP Morgan chief

Jamie Dimon, chairman of JP Morgan Chase, has warned American investors should be more worried about the risk of default of the state of California than of Greece's current debt woes. Read it HERE.

From Mineweb.com:

Do we really want $5,000 gold?

What does $5,000 gold really mean? Perhaps social chaos and, if so, who really wants that?

Author: Lawrence Williams
Posted: Friday , 26 Feb 2010

LONDON -

General talk of gold as a potentially spectacular investment as opposed to an inflation hedge glosses over the true picture. Over the ages, gold has kept up with inflation pretty well, and it will probably continue to do so in the future, but it may not make you wealthy, just protect whatever wealth you have. True there have been periods when gold has outpaced the decline in currency values due to inflation, but that is usually when it is playing catch-up from a period of under performance.

Now some ultra gold bulls out there are predicting $5,000 gold - or even higher. While we think this unlikely in the foreseeable future, think what this means if it should come about. It can only really happen if there is an equivalent decline in the US dollar - or the onset of hyper dollar inflation. While some predict this also, the likelihood of a Zimbabwe situation with trillion US dollar notes buying less than a loaf of bread is hopefully rather more than we can see ahead. If that should happen then $5,000 gold will be the least of what we should expect from the gold price. Read it HERE.

This is good food for thought. The article is a great read and presents a side I have mentioned from time to time, but not often enough.

From MineWeb.com:

Miners are no easy meat for bankers

The sweet and the sour: a look at the changing role of debt in global mining.

Author: Barry Sergeant
Posted: Friday , 26 Feb 2010

JOHANNESBURG -

When UC Rusal, advertising itself as the world's No 1 aluminium and alumina producer, listed last month in Hong Kong, its prospectus described a group with net debt of USD 13.4bn on 30 June 2009. This is a lot of debt. Earlier this month, Rusal announced, following the listing, that that it had repaid creditors USD 2.1bn, and that "as a result of the debt repayments Rusal's total outstanding debt including debt owing to Onexim was reduced to USD 12.9bn". This is still a lot of debt. Read it HERE.

From MineWeb.com:

A LARGE SWING AWAY FROM THE EURO

Weekend Top Story: Gold: A picture tells a thousand words

The net long dollar position on Inter continental exchange is 150 times the six-year average; CME Euro is heavily oversold

Author: Rhona O'Connell
Posted: Thursday , 25 Feb 2010

LONDON -

As gold appears to be marking time amidst an array of uncertainties, it is probably quicker for the reader to look at a series of pictures than to be presented with screeds of text. Essentially gold's superficially lack-lustre performance in the middle of February can be lain at the feet of questions over future economic policies for the world's largest industrial countries, including interpretation of Dr Bernanke's latest statements, the moves within China and the latest concerns over Europe, notably the likelihood of a downgrade of Greece's debt. Read it HERE and see the interesting graphs.

From TownHall.com:

The Next American Tax Rebellion Has Begun

by Michael Reagan

My father, Ronald Reagan, battled successfully to simplify the tax code but his work has been largely undone. The arrogance of those who use the tax code to manipulate citizen behavior and Congressional ambitions for personal advancement have again corrupted the already destructive income tax system. It will fall to the American people to once again reject unfair taxation that favors the mighty at the expense of the public. Read it HERE.

From PersonalLiberty.com:

How Does the 1 percent Control the 99 percent?

“It is the absolute right of the state to supervise the formation of public opinion whatever the state needs to do.”—Joseph Geobbels

We cannot understand modern despotism and police power unless we understand modern money.

Modern money in the United States and the whole world is fiat paper money and credit. It is under the total control of government (and the bankers). Read it HERE.

This is an eye opening expose of Big Brother and his control of the citizens. Read it and see the fraud of our "money."

The Miners from Scottrade.com:
The currencies from Kitco.com:
Some prices: FVITF 2.1654; BYDDF 8.14; XDSL 0.057; TBT 47.21; DOW up 55 to 10380 (Speaking of a narrow trading range); Gold 1115.70; Silver 16.53.

While Big Brother government seeks to replace the Sovereign God of all, he does exercise great control. We are protected only by the providence of King Jesus. This is a true blessing for all of His people.

"I'm getting married in the morning." (Lapsed into My Fair Lady mode for a second.) Back now! Well, not quite in the morning, but the Lord has brought a fine lady into my life and we are to be married on April 17th. We solicit your prayers for the success of this great event."

Best to each, Doug