War Like Action - Gold and Silver still attractive buys - Join in Corporate Worship

Folks, I expected an upward bounce today; however, it is yet to be seen the DOW has been bouncing around no change for some time. We may still have a buying opportunity in silver and gold today as the prices remain in good buying range. You make your own decisions, but both look good to me in the current range.

From LewRockwell.com:

Ron Paul: Sanctions on Iran Means War


Hear him HERE.

From Bloomberg.com:

Fed Made Taxpayers Unwitting Junk-Bond Buyers

Federal Reserve Chairman Ben S. Bernanke and then-New York Fed President Timothy Geithner told senators on April 3, 2008, that the tens of billions of dollars in “assets” the government agreed to purchase in the rescue of Bear Stearns Cos. were “investment-grade.” They didn’t share everything the Fed knew about the money.
The so-called assets included collateralized debt obligations and mortgage-backed bonds with names like HG-Coll Ltd. 2007-1A that were so distressed, more than $40 million already had been reduced to less than investment-grade by the time the central bankers testified. The government also became the owner of $16 billion of credit-default swaps, and taxpayers wound up guaranteeing high-yield, high-risk junk bonds. Once again you can tell that a politician is lying when you see his lips move in speech. So what is new? HERE.

From Kitco.com:  

A.M. Kitco Metals Roundup: Comex Gold Weaker on Follow-Through Selling; No Strong Reaction to U.S. Jobs Data
2 July 2010, 9:18 a.m.
By Jim Wyckoff

Comex gold futures prices are trading slightly lower Friday morning and have shown no strong reaction to the much-anticipated U.S. jobs report, which came in near trade expectations. Follow-through selling pressure is occurring after strong losses posted on Thursday, which did produce near-term technical damage. August Comex gold last traded down $2.50 an ounce at $1,204.20.  Spot gold was last quoted up $6.30 at $1,206.00.
Friday morning’s highly anticipated U.S. employment report showed the key non-farm payrolls figure declining by 125,000 in June—just slightly above trade expectations. The U.S. dollar index dropped lower on the news and is trading lower and near the session low Friday morning. The U.S. stock indexes actually moved modestly higher after the jobs numbers, as some traders breathed a sigh of relief the employment report was not worse, given this week’s spate of U.S. economic data that was dour. The U.S. unemployment rate actually declined slightly in June, to 9.5%.
The Euro currency is posting good follow-through buying strength Friday morning, after posting solid gains Thursday. The stronger Euro is limiting buying interest in gold, as risk appetite among European currency holders is increasing following a bit of positive economic news coming out of the European Union this week. Investors had been buying gold with their European currencies as a hedge against further weakness in their currencies. HERE.


From TownHall.com:

Oliver North

Now the Hard Part

WASHINGTON -- It was the speediest nomination, Senate confirmation hearing and vote to affirm a presidential appointment since Barack Obama moved into the White House. Shortly after noon on June 30 -- just seven days after Gen. David Petraeus was named to replace Gen. Stanley McChrystal -- the U.S. Senate voted 99-0 to appoint Petraeus as the next commander of the International Security Assistance Force in Afghanistan. He faces extraordinary challenges. Unfortunately, the O-Team isn't likely to make a tough job any easier.
Petraeus takes command in the midst of an increasingly difficult and bloody campaign. U.S. and NATO casualties topped 100 in June, the most in one month since the war began in the aftermath of the 9/11 terror attacks, which killed nearly 3,000 on U.S. soil. The 46-nation "grand coalition" he now heads under a United Nations mandate is rife with dozens of conflicting "national caveats" that limit how troops from various countries can be deployed and employed. Placating our "allies" in this fight is a full-time task in itself. The arrogance of the White House is unequaled in my life. HERE.

From MineWeb.com:

Alarm bells as Indian gold imports drop 75% in June

And, according to experts, July is not likely to get much better with imports expected to halve from the 28.4 tonnes brought into the country in July 2009.

Author: Shivom Seth
Posted:  Thursday , 01 Jul 2010
MUMBAI - 
The alarm bells have been ringing loud and clear. Gold imports to India, the world's largest consumer and importer of the yellow metal, have drastically slid by around 75% this June, as compared to the corresponding month of the previous year. Imports in June 2009 were 29.9 tonnes. This is a negative for gold, but there is much positive out there; such as a possible war with Iran. HERE.

Miners from Scottrade.com:

Currencies from Kitco.com:

 Some Prices: FVITF 1.9201; BYDDF 7.34; SSG 18.61; SDS 37.73; TLT 100.82; DOW bouncing around today at a low positive to negative change - currently up 2.63 to 9730.33; Gold up 3.80 to 1203.20; Silver down 0.03 to 17.68.

I am thankful to God for His providential care which enabled us to have a significant first 4th of July. I pray that we will once again turn to Him and His Law-Word that we may continue to exist as one nation under God. We show that we love and serve Him by regular attendance at corporate worship in a sound Trinitarian Church. He requires attendance every Lord's Day. 

Best to each, Doug