The first article is very interesting and does seem to reflect a truth. I urge you to read it in its entirety.
From Chaostheroien.de:
America: a walking dead-zombie country
Freitag, 20. August 2010 00:23
von Lars Schall
The high-profile financial pundit Max Keiser doesn’t shy away from crystal-clear, unmistakable statements. The following exclusive interview is no exception. Mr. Keiser sees an attack exercised against the majority of people in the U.S., sets out why gold is in no bubble at all, points at a remarkable move by the Harvard University, and has an advice to some US-American billionaires disguised as noble philanthropists: “Just pay your taxes and shut up!” This is a very important read. It has four pages and is worth every minute you spend on it. Americans must wake up to what is going on and what to look forward to unless there is a substantial change. The article fairly accurately reveals the fraud in banking and the attacks on precious metals and all markets. HERE.
From Ed Steer's Gold and Silver Daily on Saturday: "Well, the really big gold news yesterday came courtesy of The Central Bank of the Russian Federation. As I said yesterday, they always update their website on the 20th of each month... and this time it was for July. During that month they increased their gold holdings by a further 500,000 troy ounces, bringing their total holdings to date up to 23.3 million ounces... or 724.7 tonnes. So far this year they have socked away 2.8 million ounces of the stuff... over 10% of their entire holdings in just the last seven months! These guys are serious!!!" Don't you think we should be serious, too?
From WSJ.com:
'Atlas Shrugged': From Fiction to Fact in 52 Years
By STEPHEN MOORE
Some years ago when I worked at the libertarian Cato Institute, we used to label any new hire who had not yet read "Atlas Shrugged" a "virgin." Being conversant in Ayn Rand's classic novel about the economic carnage caused by big government run amok was practically a job requirement. If only "Atlas" were required reading for every member of Congress and political appointee in the Obama administration. I'm confident that we'd get out of the current financial mess a lot faster. The book is a must read, and this article presents a good overview of it. HERE.
From Speigel.de:
The Erosion of America's Middle Class
While America's super-rich congratulate themselves on donating billions to charity, the rest of the country is worse off than ever. Long-term unemployment is rising and millions of Americans are struggling to survive. The gap between rich and poor is wider than ever and the middle class is disappearing. HERE.
Let's take a look at the TLT (20+ Year Bond Fund). The graph, below, from StockCharts.com has been annotated to show the technicals. Bonds have been making a strong upward move. I have been in and out of call options on this fund about a month ago. It looks like it has farther to go on the up side. Long term, I believe this bonds will lose their charm. China seems to be purchasing fewer and may even be selling some of her Treasury holding which will translate into negatives for the bonds. However, for the time being, this looks attractive to me. Remember this blog is designed to let you know what I am doing, and I always caution you to make your own decisions. There is no way, I can know what your portfolio and your risk tolerance is.
Now looking at Fortuna, one of my core holdings in silver, I am seriously considering taking some off the table and locking in some profit. It has held up well, but the technicals are weak at present. Silver has been under some pressure, too. Longer term, I believe that silver will out perform gold on a percentage basis, but at times I do take profit off the table to allow for future investing.
Below is a speculation I have in my portfolios which has done fairly well during the last week. I am thinking of selling some of it, as well. I emphasized that this was a speculation, but the technicals are fading a bit at present. We will have to wait and see how it acts this week.
I wanted to let you know about the sales I am contemplating. It is important that you make your own decisions.
I trust that each of you joined with other Christians in corporate worship today as we should every Lord's Day. It is important to hear the sound preaching of the word, to participate in the sacraments, and have a church which exercises discipline. If yours does not have these essential three marks of a true church, find one that does.
Gold is off 0.10 to 1227.90 and Silver is off 0.06 to 17.94 as this is written.
Best to each, Doug
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