Gold Crosses the 1180 barrier - Silver follows - Miners moving, too.
The problems in our America go far beyond Washington D.C. We the people are the problem. The early strength and prosperity of our nation was due to the providential blessings of the Sovereign God who was central to most of the founders of this nation. Since that time, we have drifted farther from the God of our forefathers. That, dear friends, is the problem.
We have neglected our families as fathers. Under God's law, the father is the spiritual leader and head of the family (Eph. 5:22ff). However, the current trend is for fathers to abdicate this responsibility and leave whatever spiritual leadership exist to the wife. This has resulted from many movements, among which is the feminist movement. From Genesis, we learn that the woman wants to replace man as the leader. Many men have given in to this. This feminization of of men has resulted in a decay of the family.
As the family goes, so go the churches. Many churches have female preachers and elders in violation of Scripture. Thus, we have not only matriarchal families, but churches, as well. Thus, the churches become weak and fail to speak out to disciple the world as King Jesus commanded in Matthew 28. The churches fail to prepare people to live Christ centered lives in accordance with the Law-Word of God.
When the churches fail, the nation follows closely behind. The moral decay of this nation is very similar to that of Rome as the end of its glory approached.
As the comic PoGo once said, "We have met the enemy and he is us!" This is true of America which has fallen from the greatness that came directly by the providence of the Sovereign God. Nothing short of a return the the biblical family and church will ever solve our national problems.
As Christians, we must be on our knees before the living God of all, in repentance, return to His ways, and then and only then will He heal our land.
Both gold and silver are higher today and gold has exceeded the 1180 barrier. Thus, it should go much higher without the capping by bullion banks. We will see how the market plays out.
From MineWeb. com:Australian miners angered by resource-rental tax
The speculation was on target that the Australian Government would introduce a resource rental tax to hit miners on "so-called" super profits
Author: Ross LoutheanPosted: Monday , 03 May 2010
PERTH -
The mining community was this morning digesting news most would consider unpalatable while new project developers would consider it alarming.
Prime Minister Kevin Rudd and his Treasurer Wayne Swan utilised part of the Henry Report by Treasury head Ken Henry to show they want a redistribution of wealth - taking 40% of the profits of major miners to pay for lower company tax (from 30% to 28%), flatten personal tax rates to combine all family tax benefits into a single means-tested payment.
The reaction from miners and their lobbies has been swift, with warnings of sovereign risk, of projects stalling and miners looking to better taxation regimes overseas - notably in South America and parts of Africa. Read it, but remember this is only a proposal, HERE.
From MineWeb.com:
North American gold heavies compared
Analysis of the latest North American Tier 1 gold miners' quarterlies - Barrick vs. Newmont vs. Goldcorp, with Freeport-McMoRan as silent referee.
Author: Barry SergeantPosted: Friday , 30 Apr 2010
JOHANNESBURG -
This week's round of gold quarterlies from the three North American-based heavies, Barrick, Newmont, and Goldcorp (Kinross is yet to report) are illuminating as to variances in managerial ability to sweat revenues down to the bottom line, and balancing cash flows against relentless investor expectations that both gold production, and the gold price, will simply rise and rise again. In the background, the evergreen issue of levels of (and differences in) market valuations is always present. Read it HERE.
From MineWeb.com:
Gold breaks key resistance and trades at record highs in EUR, CHF and GBP
After months of consolidation the yellow metal has finally broken through the key $1,160 resistance level
Author: David LevensteinPosted: Monday , 03 May 2010
JOHANNESBURG -
After months of consolidation, gold finally broke through the key resistance of USD1160 and rose to its highest level in 2010 of just over USD1180 (highest since December 4th, 2009.) It also set new record highs in euros, Swiss francs and British pounds as ratings downgrades of Portugal and Greece fanned sovereign risk and contagion fears. The price of the yellow metal in euro and GBP terms went above €885/oz and £767/oz respectively. Read it HERE.
From MineWeb.com:
Gold, silver and currencies favoured as hyper-inflationary great depression nears
ShadowStats' John Williams explains why the U.S. is in a depression and predicts a "Hyper-Inflationary Great Depression". Interview with The Gold Report
Author: The Gold ReportPosted: Saturday , 01 May 2010
VANCOUVER, BC -
The Gold Report: John, last December you stated, "The U.S. economic and systemic crisis of the past of the past two years are just precursors to a great collapse," or what you call a "hyper-inflationary great depression." Is this prediction unique to the U.S., or do you feel that other economies face the same fate?John Williams: The hyper-inflationary portion largely will be unique to the U.S. If the U.S. falls into a great depression, there's no way the rest of the world cannot have some negative economic impact. Read it HERE.
From LewRockwell.com:
Repudiate the National Debt
by Murray N. Rothbard
In the spring of 1981, conservative Republicans in the House of Representatives cried. They cried because, in the first flush of the Reagan Revolution that was supposed to bring drastic cuts in taxes and government spending, as well as a balanced budget, they were being asked by the White House and their own leadership to vote for an increase in the statutory limit on the federal public debt, which was then scraping the legal ceiling of one trillion dollars. They cried because all of their lives they had voted against an increase in public debt, and now they were being asked, by their own party and their own movement, to violate their lifelong principles. The White House and its leadership assured them that this breach in principle would be their last: that it was necessary for one last increase in the debt limit to give President Reagan a chance to bring about a balanced budget and to begin to reduce the debt. Many of these Republicans tearfully announced that they were taking this fateful step because they deeply trusted their President, who would not let them down.
Famous last words. In a sense, the Reagan handlers were right: there were no more tears, no more complaints, because the principles themselves were quickly forgotten, swept into the dustbin of history. Deficits and the public debt have piled up mountainously since then, and few people care, least of all conservative Republicans. Every few years, the legal limit is raised automatically. By the end of the Reagan reign the federal debt was $2.6 trillion; now it is $3.5 trillion and rising rapidly [ed. note: $10.5 trillion, Oct. 23, 2008]. And this is the rosy side of the picture, because if you add in "off-budget" loan guarantees and contingencies, the grand total federal debt is $20 trillion. Read it HERE.
GATA's evidence of silver and gold manipulation at CFTC hearing
Testimony from GATA's Bill Murphy to the CFTC hearing in Washington could be embarrassing for some major investment banks.
Author: Lawrence WilliamsPosted: Friday , 26 Mar 2010
LONDON -
Some observers feel that the Gold Anti Trust Association (GATA's) long held views on a conspiracy by some major banks and government entities to manipulate precious metals prices are off-target, but the latest evidence produced by GATA chairman Bill Murphy in open testimony at the CFTC hearing is compelling assuming the source material is accurate.
The evidence came in the form of a series of emails, and accompanying commentary, from a London metals trader, Andrew Maguire, who contacted GATA on March 23rd regarding alleged rigging of the precious metals markets by JP Morgan among others, through shorting the markets around key economic data releases, describing in detail how this is achieved. Maguire, Murphy contends, informed the CFTC enforcement division of this market manipulation ahead of the release of farm payroll data in February this year and set out not only how the manipulation would be achieved two days in advance, but also sent real time emails to the CFTC investigators as the alleged manipulation was taking place. According to Murphy the metals prices followed the scenario precisely - something which he felt could not be predicted without prior knowledge of the manipulation of the markets by major players with huge financial clout. Read the entire report HERE.
Miners from Scottrade.com:
Currencies from Kitco.com:
Some current prices: BYDDF 9.20; FVITF 2.25; TBT 45.59; UUP 24.08; Gold up 7.60 to 1186.90; Silver up 0.20 to 18.84; DOW up 83 to 11093.
Keep your eyes upon King Jesus and follow His perfect Law-Word.
Best to each, Doug
posted by Doug @ 7:16 AM
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