Bastiat points the way to heal the ills of America - Monetary Gold - Silver - Miners - Currencies - Opening Prices

I would like to share with you a bit of Frederic Bastiat's The Law. This is a very insightful book which should be read by all. His premise begins with the natural rights of man, "Each of us has a natural right -- from God -- to defend his person, his liberty, and his property. These are the three basic requirements of life, and the preservation of any one of them is completely dependent upon the preservation of the other two." (pg. 6) He discusses this concept and states that a just government performs the functions of protecting the life, liberty, and property of citizens.

Then he warns against legal and illegal plunder. On identification of legal plunder, he says on pg. 21, "See, if the law benefits one citizens at the expense of another by doing what the citizen himself cannot do without committing a crime. Then abolish this law without delay, for it is not only an evil itself, but also it is a fertile source for further evils because it invites reprisals." 

Regarding plunder, he says, "The question of legal plunder must be settled once and for all, and there are only three ways to settle it: 

1. The few plunder the many.

2. Everybody plunders everybody.

3. Nobody plunders anybody. (pg. 23)

Thus, any form of socialism involves legal plunder and must be abolished. However, he warns that the desire to plunder other for an individual's benefit is within the evil heart of man, no matter how well intentioned he might be. Thus, the drive for legal plunder to favor the under-privileged is a strong desire.

Bastiat develops the principle that man has the government he desires which is true. 2 Chronicles 7:13,14, "If I shut up the heavens so that there is no rain, or if I command the locust to devour the land, or if I send pestilence among My people, and My people who are called by My name humble themselves, and pray, and seek My face, and turn from their wicked ways, then I will hear from heaven, will forgive their sin, and will heal their land."  This most certainly applies to any kind of disaster that the Sovereign King Jesus brings upon a nation to call it to repentance.

Thus, God points His finger at His people and gives them the government they deserve: either the wrath of God upon the nation for the Christians' disobedience of His law or a just government due to the repentance of the Christians and a return to His ways. Christians, Christian families, and Christian Churches, if you truly want a healed nation, then follow the outline of the, above verses, and God will heal our land. Otherwise, there will be no healing.

KitCo News:
A.M. Kitco Metals Roundup: Comex Gold Near Steady, Silver Up amid Lower U.S. Dollar Index, Stronger Crude Oil Prices
Comex gold is trading near unchanged price levels and silver futures are solidly higher Tuesday morning.
Both metals are seeing buying support coming from a lower U.S. dollar index and sharply higher crude oil prices. August gold last traded up $0.10 an ounce at $1,537.40. Spot gold last traded down $3.20 an ounce at $1,536.50. July Comex silver last traded up $0.652 at $38.515 an ounce.
The U.S. dollar index is trading lower Tuesday morning and hit a fresh three-week low overnight. The Euro currency is getting a boost Tuesday on reports Germany is now more willing to work with Greece on an EU/IMF bailout package for the debt-strapped nation. Look for news reports out of the EU, regarding the bloc's sovereign debt crisis, to be more frequent and possibly market-moving this week as meetings are taking place in Athens this week. The U.S. dollar index bulls have faded badly to end the month as bears have regained downside near-term technical momentum. The dollar index is now in a posture where it could head back down and retest the recent 2.5-year low in the near term. Such would be bullish for the precious metals markets. HERE.

Mine Web:
U.S. debt train could drive gold higher and higher
Continued concerns about the debt crisis in Europe have given gold prices a lift but, it is important to keep an eye on what is happening both in Asia and the US.  HERE.

Mine Web:
Gold hovers close to four-week high
Boosted by concerns around the race being run in Europe to avert a Greek debt default, gold prices remained steady around its highest level in four week. HERE.

Free Money Gold Report (James Turk):
Gold and Silver Form Promising Bullish Divergences
May 30, 2011 - Bull markets do not move in a straight line, nor do the price of gold and silver.  Their price advances, and then retreats to ‘correct’ the previous advance. For the past four weeks, gold and silver have been going through one of these periodic price corrections.
During these corrections, underlying support is tested.  If support holds, precious metal prices eventually climb higher, putting in the rear-view mirror the prices reached during the test of support as well as the correction itself.
This pattern of ebb-and-flow has recurred time and again over the past ten years, during which time both gold and silver have achieved spectacular price appreciation.  Some corrections have been long and deep, like the one that occurred after the Lehman Brothers collapse.  Others though have been short and shallow.  But they all have one common characteristic.
The depth and length of a correction cannot be predicted.  All we market participants can do is let the correction run its course, while continuing to accumulate the precious metals as part of our ongoing accumulation plan to cost-average our purchases. HERE.

GoldMoney Video Interview:
Egon von Greyerz and James Turk discuss how gold can preserve your wealth
Egon von Greyerz of Matterhorn Asset Management and James Turk, Director of the GoldMoney Foundation, discuss why gold is the best way to preserve wealth for the long term and how we are living through very interesting times for the gold market. Central banks are debasing all major currencies and this will lead to much higher gold prices. A good video and read on the deception of unbacked currency by governments and bankers. HERE:

King World News (a piece from Richard Russell):Richard Russell -
Subscribers Should Buy Silver Once Again
With the US dollar attempting to stabilize and gold and silver off the recent lows, the Godfather of newsletter writers Richard Russell had this to say in his latest commentary, “Europe -- Aside from France and Germany, Europe appears to be falling apart. First it was Portugal, Ireland, Greece that were in trouble, and now you can add Italy, Belgium and Spain. Wait Spain? Spain is the fourth biggest economy in Europe. Thus the US dollar and the euro are perched on a see-saw, juggling back and forth, first one is up and the other is down, then it's vice versa.” Check the graph and read it HERE.

Miners from Scottrade:

Currencies from KitCo:

Some Opening Prices: DOW up 120 to 12560.03; S&P up 11.16 to 1342.26; NASDAQ up 25.85 to 2822.56; Gold down 1010 to 1539, and Silver up 0.46 to 38.53. Many of the miners continue to hold well, among which we find our FVITF.

Best to each, Doug