History of the War on Gold - Gold Hits New High over night - Politics, as usual in Washington - Euphoria will result temporarily when the compromise is reached - Dollar & Market will go up - Precious metals may correct giving one more buying time
The fiasco in Washington continues. The politicians are still at it. Neither side is really willing to reduce spending. Each wants their pet projects to continue with emphasis upon getting re-elected. One can easily see that real solutions will not come from the faulty wisdom or reason of man.
Man's minds are imperfect, particularly from the original sin, which is inherited by every person born of a man and a woman. Thus, it is never wise to trust men. Only trust the word of God found in the Old and New Testaments of the bible. God's word is unchanging and will stand forever, not because we can prove it in many cases, but because of the author. He is the Creator of all. His only begotten Son is Jesus Christ who is the sustainer of every thing.
many do not realize that King Jesus is the absolute judge of all. He will not long tolerate forever the sin of men, families, and churches. Therefore, His judgment is upon nations which turn from His ways to select what they reason and believe are better. That is where we stand today == under His judgemental call to repentance. Let us repent before it is too late.
Reuters:
House delays vote on Boehner debt plan
The House of Representatives on Tuesday postponed an expected Wednesday vote on a Republican plan to raise the debt ceiling after budget experts said it would not deliver the spending cuts it claimed. More political rhetoric rather than finding solutions. The end result of all the political posturing will be a raised debt ceiling and increased debt. There will be no solution to the overall debt problem. HERE.
Conflicting statements cast doubt on euro zone deal
Contrasting statements by euro zone politicians to domestic audiences have underlined the fragility of last week's deal to rescue Greece and unsettled financial markets already on edge because of the U.S. debt impasse. Adding to the uneasiness and uncertainty concern over the financial chaos. This is another portion of the strength of the precious metals. From time to time the lies, smoke, and mirrors put forth in the rhetoric of politicians. There will be solutions, but they will not come from central banks and governments. They will come from the Sovereign God. Anything else is man's solution which always results in more of the root cause of the problem in the beginning. HERE.
Inflationomics:
The U.S. Government’s Fight against Money
Imagine that you were born in 1913 (as my mother was) and that your father gave you, as a birthday present, a $20 gold coin (double eagle). At that time, your gold coin could purchase a fine man’s suit. By the way, 1913 was also the year in which Congress established the Federal Reserve Bank as the United States’ central bank.
Let’s assume you kept your gold coin until 1933, when President Roosevelt confiscated gold coins from Americans. Assuming you forfeited your coin, you would have received twenty paper dollars in its place. This is a great history of money from the original U.S. Gold Double Eagles to present. It is mandatory reading for every person who is unaware of the cause of our monetary fiasco. Of course, it ignores the impact of God's judgment, but does rather accurately report the secular history which is a result thereof. HERE.
In spite of the war on gold, men still prefer it to the unbacked paper currencies of the world. More are climbing on the bandwagon, too. The temporary impasse of the politicians in Washington are giving cause for the bandwagon to continue to attract occupants. I believe that once politicians "solve" or profess that they have "solved" the problems, we may experience a brief period of correction in the precious metals and rise in the dollar. These will be temporary, and may not even last through the election, but it is the goal of the politicians to enjoy a sound financial environment during election periods. Beware of this!
Some Prices: DOW off 106.41 to 12395; off 16.13 to 1315.80; NASDAQ off 48.61 to 2781.43; Gold off 3.20 to 1616.70, and Silver off 0.10 to 40384.
Best to each, Doug
Man's minds are imperfect, particularly from the original sin, which is inherited by every person born of a man and a woman. Thus, it is never wise to trust men. Only trust the word of God found in the Old and New Testaments of the bible. God's word is unchanging and will stand forever, not because we can prove it in many cases, but because of the author. He is the Creator of all. His only begotten Son is Jesus Christ who is the sustainer of every thing.
many do not realize that King Jesus is the absolute judge of all. He will not long tolerate forever the sin of men, families, and churches. Therefore, His judgment is upon nations which turn from His ways to select what they reason and believe are better. That is where we stand today == under His judgemental call to repentance. Let us repent before it is too late.
Reuters:
House delays vote on Boehner debt plan
The House of Representatives on Tuesday postponed an expected Wednesday vote on a Republican plan to raise the debt ceiling after budget experts said it would not deliver the spending cuts it claimed. More political rhetoric rather than finding solutions. The end result of all the political posturing will be a raised debt ceiling and increased debt. There will be no solution to the overall debt problem. HERE.
Conflicting statements cast doubt on euro zone deal
Contrasting statements by euro zone politicians to domestic audiences have underlined the fragility of last week's deal to rescue Greece and unsettled financial markets already on edge because of the U.S. debt impasse. Adding to the uneasiness and uncertainty concern over the financial chaos. This is another portion of the strength of the precious metals. From time to time the lies, smoke, and mirrors put forth in the rhetoric of politicians. There will be solutions, but they will not come from central banks and governments. They will come from the Sovereign God. Anything else is man's solution which always results in more of the root cause of the problem in the beginning. HERE.
Inflationomics:
The U.S. Government’s Fight against Money
Imagine that you were born in 1913 (as my mother was) and that your father gave you, as a birthday present, a $20 gold coin (double eagle). At that time, your gold coin could purchase a fine man’s suit. By the way, 1913 was also the year in which Congress established the Federal Reserve Bank as the United States’ central bank.
Let’s assume you kept your gold coin until 1933, when President Roosevelt confiscated gold coins from Americans. Assuming you forfeited your coin, you would have received twenty paper dollars in its place. This is a great history of money from the original U.S. Gold Double Eagles to present. It is mandatory reading for every person who is unaware of the cause of our monetary fiasco. Of course, it ignores the impact of God's judgment, but does rather accurately report the secular history which is a result thereof. HERE.
Miners from Scottrade:
Currencies from KitCo:
Some Prices: DOW off 106.41 to 12395; off 16.13 to 1315.80; NASDAQ off 48.61 to 2781.43; Gold off 3.20 to 1616.70, and Silver off 0.10 to 40384.
posted by Doug @ 10:17 AM
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