Thoughts on Markets

Tuesday, May 17, 2011

Silver & Gold Hit Again - Israel - Tort Reform - FVITF


These are the times that try one's patience. The correction in the metals continues with both being hit very badly this morning. There is likely more to come.  The shorts held by the bullion banks remain quite high. It seems that many must be in very profitable range now. One has to wonder about the few successive increases in margin requirements for the paper silver contracts which have had a profound impact upon silver prices.

We must never put our trust in men. They change with the wind, political correctness, and a thousand other excuses. Many politicians are so arrogant that they do not bother to offer excuses. There is only one true God in whom we can confidently place our trust. Jesus Christ is the one who never changes. He is the same yesterday, today, and always. It is also true with His word. As He told us, not one jot, etc. will change until all is fulfilled. That is, until the end of time as we know it. That time will come when all living and dead appear before the Great White Throne of judgment. It is coming and all must be aware of this fact. We will be held responsible for every "idle word." This is fact, and only those whose advocate is Jesus Christ will be saved from the fires of Hell.

Chuck Norris
Loser-Pays Tort Reform
Last week, President Obama came to my home state of Texas calling for immigration reform. He should have also rallied citizens for tort reform, which is a hot issue right now around the country and in Texas politics in particular.
I've deferred (or better, repackaged) Part 2 of my article on bullies to oppose some real-life legal bullies -- those sue-happy individuals (serial litigants) who tie up and abuse our court systems and civil rights to oppress and take from their victims (defendants).
These corrupt plaintiffs often initiate frivolous lawsuits because they know most defendants will settle out of court rather than endure the expenses of a trial. The Point of Law website says that "well over 90 percent of cases settle out of court before a final legal resolution" -- a fact that serial litigants are counting on. The lawyers must profit from each settlement else they would not take the case. I imagine that Texas still has a very high proportion of lawyers to citizens as in the past. It remains a bottom line litmus test. Follow the cash. HERE.

TownHall:Dennis Prager
Dennis Prager

Are the Jews the Chosen People?
I assume that the type of person who reads columns such as this one has wondered at one time or another why, for thousands of years, there has been so much attention paid to Jews and why, today, to Israel, the one Jewish state.
But how do most people explain this preoccupation? There is no fully rational explanation for the amount of attention paid to the Jews and the Jewish state. And there is no fully rational explanation for the amount of hatred directed at Jews and the Jewish state.
A lifetime of study of this issue, including writing (with Rabbi Joseph Telushkin) a book on anti-Semitism ("Why the Jews? The Reason for Antisemitism") has convinced me that, along with all the rational explanations, there is one explanation that transcends reason alone.
It is that the Jews are God's chosen people.The last sentence pinpoints the answer to his proposed question. The Old Testament chosen people of God were the descendants of Abraham and became the nation: Israel. However, God in 70 AD used the Roman army to forever destroy the nation and to replace it with His church as His chosen people. He could have found the answers in the Bible, but the author's question is well put. However, without the proper interpretation of Scripture, many are led to believe that the Jews of the current nation of Israel are still the chosen people of God. HERE.

Why the silver price spiked - and crashed
No one could really give any comprehensive explanation why the silver price climbed 175% in a year. The past fortnight's story of silver's rise and demise shows how risky a market for small players it can be. He does hit on some of the reasons - bullion bank shorts. HERE.
MineWeb Podcast:
Gold and China, silver and volatility - Edel Tully, UBS
A look at where gold goes from here with a focus on China's continuing role and a view on silver. HERE.

London Gold Market Report - Monday May 17th 2011
Gold "Still poised for new highs" as UK inflation jumps, but silver seen as in a lateral phase. Eurozone bail-outs roll on. Mixed look at the metals. HERE.

Picking gold stocks and limiting risk - Doody
In this interview with The Gold Report, Gold Stock Analyst (GSA) Newsletter Writer John Doody reveals what diversifying your gold portfolio really means and how to limit the risk element. HERE.

Let's look at Fortuna, one of my core holdings.

Miners from Scottrade:

Currencies from KitCo:
Some Prices: DOW off 51.01 to 12496; S&P off 0.84 to 1328.63; NASDAQ off 4.55 to 2777.87; Gold off 6.70 to 1462.60; Silver up 0.04 to 33.64. All are seem to be correcting still.

Best to each, Doug


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