Thoughts on Markets

Monday, December 20, 2010

Income Tax Lies - States Have Serious Debt - HL - FVITF - OLVRF

The blessing of God upon His people, as seen by all the people are interesting. God promises blessings to those who obey His Law-Word, and at the very same time, He promises curses upon those who do not. Thus, the blessings of God have to very different sides or consequences. The blessings promise life to His people and eternal death to the others. 

As Joshua said to the people of Israel (the present day church), "If it is disagreeable in your sight to serve the LORD, choose for yourselves today whom you will serve: whether the gods which your fathers served which were beyond the River, or the gods of the Amorites in whose land you are living; but as for me and my house, we will serve the LORD." (Jos 24:15)

This is the question that every person must answer for himself before the Lord. It is perhaps the most important question before each of us. Who will be the object of your service, worship, and life? I pray that each of you has answered that for me and my house we will serve King Jesus.

From Bob Livingston:
Income Taxes Are Not For Income To The Federal Government
Before we get entangled in the doublespeak of the Internal Revenue Service Code and rulings, we need to consider that the whole Orwellian nightmare is a sham imposed by the police power of the State on a gullible people. This is an interesting article which provides an insightful look into the reasons for the Income Tax as we know it today. HERE.

From Bloomberg:
Bears Turn Bulls as U.S. Gains From Roiling Markets
The U.S. may come out ahead in 2011 as policy makers from Federal Reserve Chairman Ben S. Bernanke to Chinese Premier Wen Jiabao jockey for advantage in the world economy.
U.S. growth is accelerating as the year ends, with economists, consumers and companies such as General Electric Co. becoming more confident about next year’s outlook after President Barack Obama struck a tax-cut deal with Republicans this month. Europe, meantime, is stuck in a sovereign-debt morass, while China and other emerging countries are struggling to cap an economically costly run-up in inflation. HERE.

From Bloomberg:
Treasuries Gain for Third Day on Fed's U.S. Debt Purchases, Korea Tension
Treasuries rose for a third day in the longest winning streak this month as the Federal Reserve prepared to purchase as much as $17 billion in two operations, the biggest amount in a single day.  The Fed is stepping in to salvage what it can at the bond auctions. HERE.

From Reuters:
An inconvenient housing sector 
Wall Street banks have been gripped by a certain euphoria in recent weeks, with their economists touting a modest improvement in U.S. data as an omen of more robust growth to come in 2011. HERE.

From The Daily Pfcnnig (
"Well...looky here! it only took 60 minutes over 1 year to catch up with what I kept pointing out to you dear readers... That the U.S. states are so far in debt, they can't make payments, policemen can't fill up their gas tanks, and pensions can't be funded... the debt problem of our states is unsustainable... But... the media wants to focus on the debts of Greece? Ireland? both of those two states together don't stack up to California, which I might remind everyone IS the 7th largest economy in the WORLD!" The is big trouble right here in "River City." Perhaps it is even much bigger than that of the EURO world.

From Barrons:
The Beginning of the End of Dollar Hegemony
When the monetary history of the year coming to an end is written decades from now, the headlines of European debt crisis and Federal Reserve's adoption of QE2 may turn out to be mere footnotes to the bigger story: 2010 could be a watershed marking the beginning of the end of the dollar-based, Western-centric monetary system. It's coming sooner than most believe, and the initial foundation has already been laid. Read the article HERE.

Silver is holding at a higher level in spite of manipulation. 

 The silver miners are higher in response to the higher prices of silver.

Both Hecla an Fortuna seem to be moving within a trading range. That will provide, if it continues a buying opportunities from time to time as price swings near lower range. However, this is a low volume trading time, so moves may be more volatile.

Below is a graph of OLVRF which is doing fairly well.

Miners from Scottrade:

Currencies from Kitco:

Some Prices: FVITF 4.2426; BULM 1.15; OLVRF 1.2538; HHWW 1.499; SILA 0.43; TBT 37.409 (Bonds Up a bit.); DOW off 40+ to 11451+; SPX  off about 1 to 1242.94; Gold up 4.50 to 1380.40; Silver off 0.18 to 29.01. 

Best to each, Doug


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