Thoughts on Markets

Monday, January 24, 2011

The Righteous are bold as a lion - 10th Amendment - Miners - Currencies - Gold - Silver

The wicked flee when no one is pursuing, But the righteous are bold as a lion. (Pro 28:1) That is because the wicked depends upon himself, while the child of God depends upon his Father who is in Heaven against whom there is no one strong enough to stand. Thus, the Christian knows the love, grace, and care of his Father. He knows that Jesus Christ is with him always. What comfort and power this fact gives him, so he moves out in confidence as a lion in Africa. He depends upon the Lion of Judah.  

From Vision to America:
Faceoff! States Tell Feds to Back Down
What if Washington made a law and nobody paid attention? Or even more significantly, what if states specifically repudiated it and threatened to prosecute those enforcing it?
The questions no longer are rhetorical but a real option as eight states consider a blanket nullification of the Obamacare nationalization of health-care decision-making advances in their legislatures. I pray and hope that this is one more step in the correct direction toward the 10th Amendment of the Constitution. The states are to interposition themselves between the Federal Government and the citizens of the individual states. This is perhaps their most important task. We have seen small steps in the past, but we need more states and larger steps to stem the tide of the steam roller Federalies. We can do without mere rhetoric from the politicians, and look for action.  HERE.

International Forecaster (Bob Chapman):
As if the Fed planned to do it all Wrong
January 22 2011: Government Funds Cheesy Pizza While Food Armageddon Stirs, food and energy on the rise, the advance of poverty and sumptuous wealth, Greece and Ireland slide towards default, troubles in the home front, with seizures, outflows of money.
As of Wednesday we have seen the euro rise 7 straight days, which caused the USDX to fall to 78.14, this in spite of having 10-year rates in Spain, Portugal and Ireland rising 3 bps. This is a long, but important read. One can scan it quickly and get good insight into the damage of the Federal Government and Federal Reserve System. The greatest harm is being done to the lower and middle class Americans. HERE.

Mine Web:
Long term effects on the gold price could be spectacular
Despite the recent fall back in the gold price all the structural imbalances in the global economic system remain in place and ever-growing Chinese and Indian demand could turn supply/demand forecasts on their head. HERE.

Mine Web:
Gold up as buyers re-enter the market
After three consecutive weekly losses, the yellow metal rose toward $1,350 an ounce on Monday as buyers, attracted by the lower price, re-entered the market. HERE.

Mine Web:
Gold to benefit as currency woes continue
Continued currency woes, further monetary easing and the potential for default are likely to further boost gold's appeal in 2011. HERE.

Gold edges up as price drop attracts buyersGold prices rose on Monday as lower prices attracted some buyers back to the market after the metal's third consecutive weekly loss, but a more optimistic view of global growth still limited fresh investment.
A dearth of safe-haven demand in recent weeks as concerns over euro zone sovereign debt and the U.S. economic outlook receded meant gold struggled to make fresh headway after hitting a record $1,430.95 an ounce in December, analysts said. HERE.

Seeking Alpha:
U.S. - China Currency War: Should the U.S. Fight Back by Defaulting?

China-U.S. relations have dominated this week's headlines with Hu Jintao's official state visit to America. And there is much to talk about with respect to what is arguably the world's most important bilateral relationship. HERE.

Miners from Scottrade:

Currencies from KitCo:

In spite of the severe flooding in Australia, the Australian Dollar is holding up very well against our dollar.

Some Prices: FVITF 3.78; BULM 1.00; OLVRF 1.1204; HHWW 1.85; DOW up 46.47 to 11918+; SPX up 2.42 to 1285.77; Gold up 5.20 to 1347.60; Silver down 0.07 to 27.46. Silver seems to be severely capped. All miners are down and very inviting at these prices. I am waiting a bit here, but interested in acquiring more at low prices. BUYER BEWARE!!!! This correction does not seem to be over, but when it is, I believe we will see much higher prices, and that during 2011.

Best to each, Doug


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