Thoughts on Markets

Wednesday, January 19, 2011

IAG - Metals up Slightly - General Mkt down Slightly - US Mint silver sales 26 year high

Zero Hedge:
US Mint Reports January Silver Sales Hit 26 Year High
When we had last checked on the total silver sales by the US Mint earlier today, the amount given was 3,407,000 ounces, a number which we had earlier speculated would be a monthly record if sales were maintained at the current pace. And as the number had not been updated we assumed that "either buying interest has ceased overnight (unlikely), that the mint is not updating its numbers (likely), or, worse, that the Mint has now stopped selling any form of silver for reasons unknown." HERE.


Town Hall:
Walter E. Williams
Why We're a Divided Nation
Some Americans have strong, sometimes unyielding preferences for Mac computers, while most others have similarly strong preferences for PCs and wouldn't be caught dead using a Mac. Some Americans love classical music and hate rock and roll. Others have opposite preferences, loving rock and roll and consider classical music as hoity-toity junk. Then there are those among us who love football and Western movies, and find golf and cooking shows to be less than manly. Despite these, and many other strong preferences, there's little or no conflict. When's the last time you heard of rock and roll lovers in conflict with classical music lovers, or Mac lovers in conflict with PC lovers, or football lovers in conflict with golf lovers? It seldom if ever happens. When there's market allocation of resources and peaceable, voluntary exchange, people have their preferences satisfied and are able to live in peace with one another. But if there were governmental decrees against some or these or for these, there would be conflict. HERE.


Mine Web:
Gold should hit $2000 this year - John Embry
Sprott Asset Management's Chief Investment strategist likes gold but prefers silver and is very positive on gold stocks. Optimistic? Maybe, maybe not! Read and Hear it HERE.

Mine Web:
Gold set to rise, but short term correction likely
Though trading sentiment for gold was bolstered in India despite the rising stock market, price volatility is set to remain a feature of this market for some more time. Then go to 2000? An interesting read. HERE.

Scripture tells us that we  should "not trust in men, but in the living God of all." He, alone is unchangeable and cannot lie. Thus, He deserves our trust. Sowell gives good examples of why we should not trust in men. The bible assures us that we can trust in God and have faith that He will always be trustworthy. Praise Him daily! King Jesus, "The same yesterday, today, and forever."

Town Hall:
Thomas Sowell
Budget Crisis Rhetoric: Part II
We all know not to take politicians' rhetoric at face value. But not enough of us have yet learned not to take media rhetoric at face value either, even when it appears in what looks like a "news" story, but is actually a disguised editorial on the front page. Politicians & media rhetoric are alike in that it is presented to us to sway our minds to their side of the issues addresses. Neither simply report the facts. HERE.



Mine Web:
IAMGOLD reports record gold production, confirms 2011 guidance
Toronto's IAMGOLD said it produced a record 310,000 attributable gold ounces in Q4 2010 and reaffirmed its 2011 guidance for both gold and niobium production. This is one of my core holdings and has been very stable. HERE.
Miners from Scottrade:


Currencies from KitCo:

Some Prices: FVITF  4.3045; BULM 1.08; OLVRF 1.2072; HHWW 1.859; DOW  off 6 to 11832+; SPX off 7 to 1288+; Gold up 1.80 to 1369.9; Silver up 0.09 to 28.97.

Best to each, Doug

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