Precious Metals Hammered and Contrained Again

The bullion banks and the rest of the boyz struck again to contain the prices of our precious metals. The War on Gold continues. I sincerely hope it is nearing an end, but once again, we are seeing the power of the banks to be in concert with governments as they protect their monopoly on money. Were we to print dollars backed by nothing, it would be rightly called counterfeiting. When the banks and government do it is no less counterfeiting, but legalized fraud. We the people are being robbed of purchasing power and penalized for holding precious metals which are true historic money. Were the intervention to stop, gold would range up to around $2,000 to $2,500 per ounce based upon inflation adjusted value of the dollar.



From Telegraph.co.uk:

Fitch warns Britain and questions Greek rescue as sovereign risks grow

Brian Coulton, the agency's head of sovereign ratings, said the UK has seen "the most rapid rise in the ratio of public debt to GDP of any AAA-rated country" and is courting fate with its leisurely plan to halve the deficit by the middle of the decade.

"It is frankly too slow, a pedestrian pace. Why the UK thinks it has more time than other countries , we're not sure. This needs to be reoriented," he told the Fitch forum on sovereign hotspots. Read it HERE.

The Greek panic has been greatly overdone in view of the states here in the U.S. which are in much worse financial condition than the Greeks. Panics are everywhere and the media, etc. blows all into a significant news story for purpose of their sales.

From Bloomberg.com:
Budget Deficit in U.S. Widens to Record $221 Billion

By Vincent Del Giudice

March 10 (Bloomberg) -- The U.S. budget deficit widened to a record in February as the government boosted spending to help revive the economy.

The excess of spending over revenue increased to $221 billion last month, compared with a shortfall of $194 billion in February 2009, according to Treasury Department figures released today in Washington. The figures show the deficit this year will likely surpass the record $1.4 trillion in the fiscal year that ended in September. Read it HERE.

The size of that deficit is hard to imagine. However, it is evident that the White House along with Congress is unwilling to make any sizable cuts. Both Democrats and Republicans are big spenders. Both parties support Big Brother Government, too. Join the Tea Parties and vote them all out with one exception Ron Paul.

From JessiesCrossRoadsCafe.com:

Propaganda Campaign Attempts to Mask the Economic Risks and Reality

The propaganda campaign by the US government is trying to mask the fact that the economic recovery plan is failing and that America is rapidly losing confidence in Team Obama.

You cannot have a sustained recovery without changing the underlying conditions that caused the failure in the first place.

In addition to the media blitz dissected by Yves Smith in the essay excerpted below, I have never seen such a load of rubbish being put forward with regard to the markets in US financial assets and commodities, and I have seen quite a bit in the last twenty years. In particular, the campaigns against gold and silver in particular are heavy-handed, obvious, and reaching the point of hysteria. Read it HERE.

Do you really think the Federal Government would attempt to deceive the citizens? YES! The article is a very important read. It points the way to a more important posting at NakedCapitalist.com entitled "The Empire Continues to Strike Back; Team Obama Propaganda Campaign Reaches a Fever Pitch." Do not neglect reading.

From InformationClearingHouse.info:

Empires on the Edge of Chaos

By Niall Ferguson

Summary: - Imperial collapse may come much more suddenly than many historians imagine. A combination of fiscal deficits and military overstretch suggests that the United States may be the next empire on the precipice.

February 26, 2010 "Foreign Affairs" - March/April 2010 Edition -- There is no better illustration of the life cycle of a great power than The Course of Empire, a series of five paintings by Thomas Cole that hang in the New-York Historical Society. Cole was a founder of the Hudson River School and one of the pioneers of nineteenth-century American landscape painting; in The Course of Empire, he beautifully captured a theory of imperial rise and fall to which most people remain in thrall to this day. Read it all HERE.

Empires have ground, decade from within, and crashed throughout history. Ours may meet the same fate as we have lost sight of the providence of the Sovereign God who is truly our founder. Unless we turn back to Him in repentance, we will be lost as a nation. Each precious empire fell under the wrath of God.

From Uncommon@AubieBaltin.com :

"An idea whose time has come

For too long we have been complacent about the workings of Congress. Many citizens have no idea that members of Congress can retire with the same pay after only one term, that they don't pay into Social Security, that they specifically exempted themselves from many of the laws they have passed (such as being exempt from any fear of prosecution for sexual harassment), while ordinary citizens must live under those laws. Their latest move is to exempt themselves from the Health care Reform that is being considered...in all of its forms. That’s not right. We should not have an elite class that places itself above the law. I truly don't care if they are Republican, Democrat, Independent or whatever –The self-serving must stop. A 28^th Amendment has become necessary. It is an idea whose time has come.
Proposed 28th Amendment to the United States Constitution:

"Congress shall make no law that applies to the citizens of the United States that does not apply equally to the Senators and/or Representatives; and, Congress shall make no law that applies to the Senators and/or Representatives that does not apply equally to the citizens of the United States."

Miners from Scottrade.com:

Currencies from Kitco.com:

Some prices: BYDDF 9.00 (WOW! That is nice!); FVITF 2.45 (holding nicely) XDSL 0.0227 (Ouch!) SNWT 0.133 (This has been a disappointment); TBT 48.9105 (about the same); DOW off 5 to 10562; Gold off 2.40 to 1105.80; and Silver up 0.02 to 17.05 (Back above 17 and holding in spite of the boyz.)

Thankfully our God is in control. We need not worry ourselves about the absence of Free Markets for securities. Tough the markets are confusing, we nevertheless must make educated decisions and plan our investments. Then we commit them to King Jesus and await His answer by which we should profit.

Best to each, Doug