War & Iran - Gold - Silver - Bonds - King Jesus

More saber rattling in the middle East. There is a lot of unrest in the world, but the mid-East seems to be the hot bed. Will Israel attack Iran? This is the question of the day and should have a profound impact upon gold and silver.

The metals were quiet with very low volume over the 3-day weekend. This revealed how important the NY markets are for metals. NY markets must be open for the boyz to come out and play with vigor. Both metals are moving some higher.



From Ed Steer's Gold and Silver Daily Report: "In silver, the '4 or less' bullion banks in the Commercial category of the COT are still short 244.4 million ounces of the stuff... and the '8 or less' bullion banks are short 319.5 million ounces. In percentage of world silver production... the '4 or less' bullion banks are short 36% of world silver production... and the '8 or less' traders [which includes the '4 or less' traders] are short 47% of world silver production. How concentrated does the short position have to get before the CFTC will act? Just asking. In gold, the '8 or less' traders are still short virtually 100% of the entire Commercial net short position... which now sits at 26.8 million ounces."

Listen to Ted Butler on Silver HERE.

From TownHall.com:

The Greatest Obstacle to Border Enforcement, Part 3

There is one gigantic obstacle that stands before America and our immigration crisis. And, quite frankly, it is in my estimation an insurmountable roadblock that will inhibit any resolution that enforces current immigration law, especially as it pertains to illegal immigrants. That barrier is not a people, policy or protocol. It is our president.

I seriously doubt that our current commander in chief can lead our nation out of this immigration mess because of a single fundamental and philosophical difference he has with most Americans, previous administrations and even our founders. Read it HERE.

From CNNMoney.com:

Gold-dispensing ATMs: Coming to a city near you

By Blake Ellis, staff reporterMay 28, 2010: 9:07 AM ET

NEW YORK (CNNMoney.com) -- As economic fears drive gold prices to new highs, the creator of a gold-dispensing ATM is attracting attention around the globe.

Germany-based GOLD to go, which is currently churning out 50 gold machines a month to meet a recent jump in demand, launched its first ATM in Abu Dhabi's Emirates Palace Hotel earlier this month and opened its second in Germany last week. Read it HERE.

Fr0m FT.com:

Scramble for gold coins to beat tax increase

By Javier Blas and Vanessa Houlder

Published: May 28 2010 21:08 | Last updated: May 28 2010 21:08

British investors are scrambling to buy sovereigns and Britannia gold coins in an attempt to use a tax loophole to avoid paying more capital gains tax.

Mark O’Byrne, of Gold Core, a London-based gold coins and small bars dealer, said it was selling sovereigns and Britannias “in the thousands”. Read it HERE.

Rosenberg Says Gold May Rise to $3,000 in Several Years See the video HERE.

Fr0m Guardian.co.uk:

Afghans believe US is funding Taliban

It's near-impossible to find anyone in Afghanistan who doesn't believe the US are funding the Taliban: and it's the highly educated Afghan professionals, those employed by ISAF, USAID, international media organisations – and even advising US diplomats – who seem the most convinced.

One Afghan friend, who speaks flawless English and likes to quote Charles Dickens, Bertolt Brecht and Anton Chekhov, says the reason is clear. "The US has an interest in prolonging the conflict so as to stay in Afghanistan for the long term."

The continuing violence between coalition forces and the Taliban is simple proof in itself.

"We say in this country, you need two hands to clap," he says, slapping his hands together in demonstration. "One side can't do it on its own." Read it HERE.

From TimesOnLine.co.uk:

Israel stations nuclear missile subs off Iran

Three German-built Israeli submarines equipped with nuclear cruise missiles are to be deployed in the Gulf near the Iranian coastline.

The first has been sent in response to Israeli fears that ballistic missiles developed by Iran, Syria and Hezbollah, a political and military organisation in Lebanon, could hit sites in Israel, including air bases and missile launchers.

The submarines of Flotilla 7 — Dolphin, Tekuma and Leviathan — have visited the Gulf before. But the decision has now been taken to ensure a permanent presence of at least one of the vessels.

The flotilla’s commander, identified only as “Colonel O”, told an Israeli newspaper: “We are an underwater assault force. We’re operating deep and far, very far, from our borders.” Is the Iran War in the near future? Read the article HERE.

More on the Mid-East flare up from TimesOnLine.co.uk:

Death on the high seas as Israel storms aid ship

Israel was under pressure to lift its blockade of Gaza last night after a deadly attack on civilian aid ships in international waters. A Turkish charity in Gaza said that 19 people were missing; Israel put the death toll at 9.

Outrage grew and United Nations Security Council members broke off from their spring holiday to hold an emergency session. Israel was called on to explain its use of “disproportionate force” against the flotilla of mostly Turkish aid vessels bound for Gaza. Ban Ki Moon, the Secretary-General, said that he was shocked by the killings and demanded answers urgently.

The European Union unanimously condemned the violence and demanded an impartial inquiry. European governments summoned Israeli ambassadors while protesters flocked to Israeli and US embassies to vent their fury. Read it HERE.

Miners from Scottrade.com:

Currencies from Kitco.com:

Some prices: BYDDF 8.03; FVITF 2.0056; TLT 96.47; TBT 39.92; DOW up 66 to 10202.66; Gold up 8.50 to 1224.70, and Silver down 0.02 to 18.54.

More war in the Mid-East would be a disaster, as no nation today can afford expanded war. Pray the Lord King Jesus will not allow it. He is in control, but often punished His people as they desert Him. Thus, America and the world is under His judgment.

We must rest in Him, but be wise as serpents and harmless as doves. Let us proclaim the gospel with the vigor and accuracy He requires. Let worship Him with order and decency in accordance with His word.

Best to each, Doug