Thoughts on Markets: Gold Streaking to New Highs - Batten down the Hatches for a worse Economic Storm - Ron Paul - Gun saves lives again - Metals a bit off their earlier highs, but still strong

Folks,

The news today is all centered on gold yesterday, over night, and this morning. Gold establishes new highs with every tick of the clock. It is not only against the dollar, but against virtually all major currencies. It is becoming the money of choice. Just before the U.S. markets open gold is 1862.40 and silver is 42.45. This is the big news. Maybe even the boyz have given up on capping these metals in the face of the great demand which exists. Can $2,000 gold be very far ahead? How far will it go beyond that?

In the face of all of the weak to poor statistics on the U.S. economy, the fact must be faced that we are in for more stagflation or worse. It is truly time to batten down the hatches: (1) Lowering debt, (2) Lowering our spending, (3) Setting aside funds for emergencies, and (4) Without forgetting our Commandment from God to tithe of all our increase. After the tithe, it could be a time for storing up some non-perishable consumables for harder times to come. The message from gold is that times are not looking good as the financial fiasco continues. Can you imagine what the prices in the stores will be when gold surpasses $2,000 per ounce?

The Daily Show:

Apparently, Ron Paul's showing Iowa was too much, because the media is again blocking out candidate Ron Paul. I know that he is a libertarian, and I would like him to run in that party. I am not an anarchist, but OI ask you who else has had a sound money political life and spoken out on it for decades? He should kick the Republican Party in the seat of the pants and leave that deceptive party. Check out this video HERE.

Mine Web:

Silver stutters upwards nervously in pursuit of gold but could soon fly again?
With Sprott planning to buy another $32 million worth of silver, is the price going to take off again, or continue its pattern of a nervous advance alongside any gold price increase? HERE.

Remarkable times for gold make Chavez policy path of wisdom!
Gold and silver have been rising fast which emphasizes the tribulations of the global economy and makes Venezuela's policy of repatriating its gold and holding its reserves in BRIC currencies look really smart. Except for the impact upon the economy which he controls. It will devastating for him to seize the mining industry for the government destroying whatever free market exists there. Economic and political wisdom should be biblically based and benefit the citizens. HERE.

Govt. intervention threatens global mining-Grant Thornton
"Government intervention-unchecked and independent of broader government and sector strategies-poses a real threat to mining," and may hinder overall financial global recovery, says a new report. I agree. HERE.

Gold imports into India set to cross the 1,000 tonne mark this year
India's investment demand for gold jumped 78% to 108.5 tonnes, while jewellery demand rose 17% in the second quarter till July 2011 to 139.8 tonnes, while in value terms demand rose 70% in India. HERE.

The real gold season should be starting soon
It seems like the strong season for the gold price is already with us but in reality it doesn't really start ‘til the end of the month. Why are September through May normally particularly strong for gold? Gold is out of the starting gate early and now beginning to show us that $2,000 by the end of the year may be too conservative. HERE.

Skyrocketing gold - use any correction to stock up - Nichols
Jeff Nichols foresees a likely price correction ahead but this would only be a brief interlude in gold's continuing upward progress to a multiple of the current record level. That is if we ever get a correction. One would seem to have to be ready and very quick to act. HERE.

Paramount Communications:

Guns Save Lives -- Again!
The students believed the gunmen were going to rape and murder the entire group of students, who were celebrating a birthday at the end of the semester.

However, one male student, whose identity is being protected by police and local media, retrieved a handgun from his backpack and fired at the thug who was detaining the men. Read it HERE.

Miners from Scottrade: