Thoughts on Markets

Tuesday, June 07, 2011

Bargain Days in the Miners - Gold & Silver Physical Demand Still High - Turn back to King Jesus

King Jesus continues to call His people, families, and churches back to Him. As we read and study the Bible from Genesis to Revelation, we see how often He called the old nation of Israel back to Him. They did return several times, but became self-sufficient in their own eyes left Him. He wrath for their replacement of Him with other gods, resulted in their destruction in 70 AD. Is that to be our fate? It will be if we fail to heed the call. Turn back to Him and praise Him daily.

The miners are not sticking with the precious metals. Therefore, there is little doubt that we are not in the third phase of the bull market in metals. It lies somewhere in the future. This is historically the time of the year when precious metals and miners are suffering a lack of interest and lower prices. The metals seem attempting to break loose, because the demand for the physical metals remains very high. However, the extreme manipulation is primarily in the paper metals markets. The trend for all unbacked paper currencies is down.  They continue to have no true value except in relation to other currencies. Note that the Swiss Franc continues to gain relative to the dollar. Another currency with a similar tendency is the Singapore Dollar which Chuck Burtler has written of in The Daily Pfennig.

Mine Web:
Junior gold stock bargain season now with us
Junior explorers are back in the field commencing summer drilling programs, making early summer a good time to seek out bargains in the junior equity sector. Gold Report interview with Mike Starogiannis. HERE.

Mine Web:
Gold, oil and the state of the world
The co-managers of the U.S. Global Investors Global Resources Fund provide candid answers to some of the big questions of the day. Some interesting answers. Worth the read. HERE.

Mine Web:
Gold's upward trend remains intact, a breach through $1,550 likely
The demand for physical gold remains robust as investors add bullion bars and coins to their portfolios.HERE.

Mine Web:
No good news for the economy - gold and silver strengthening?
in his daily review of precious metals, Julian Phillips struggles to find any good economic news anywhere which may lead to strengthening gold prices as currencies continue to devalue. The economic reports have been very poor of late. HERE.

Mine Web:
Gold up near one-month high
The yellow metal rose in early trade on Tuesday to its strongest in over a month boosted by concerns about a further slowdown in the US. HERE.

Gold Money Foundation:
James Turk's presentation on the gold price and the US dollar
James Turk of the GoldMoney Foundation speaks about currency devaluation and the rising gold price. How the gold price is rising against all major currencies and monetary policy is political, having abandoned all pretence of seeking monetary stability. He warns of the dangers of a hyperinflationary crisis. James also explains why gold should be considered money and not an investment.
He also talks of the coming dollar collapse and the waterfall decline in the dollar, especially since Ben Bernanke’s words on QE. He talks of different examples of hyperinflation from paper money hyperinflation in Weimar Germany to deposit currency hyperinflation in Argentina. The presentation was held on 29 April 2011 in Munich, Germany. Gold is truly money. The presentation includes some very valuable graphs. Watch and listen HERE.

Town Hall:
 Different Decisions
Thomas Sowell:

Two unrelated news stories on the same day show the contrast between government decisions and private decisions. This is interesting. HERE.

Town Hall: 
Deport California's Illegal Immigrant Prisoners
Chuck Norris:

In the classic movie "The Great Escape," a cluster of Hollywood manly men from yesteryear (including my friend Steve McQueen) played Allied POWs who escape from a German camp during World War II. Sounds like a good idea to me. HERE.

Miners from Scottrade:

Currencies from Kit Co: Note that silver demand has pushed the price up against all major currencies. The price of gold is painting a different picture.

Some early prices: DOW up 63.69 to 12153.86; S&P up 7 to 129325; NASDAQ up 11.79 to 2714.64; Gold up 1.90 to 1545.80; Silver up 0.24 to 37.04.

Best to each, Doug


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