All education must start with the fear of the Lord which is wisdom - Gold to 1900+ over the weekend - Silver still strong - Miners showing life -

Folks,

This is Labor Day, so I wanted to take a bit of time to reflect on what is lacking in all government schools, many Christian schools, and many Christian churches. I am suggesting that education must centered around one central fundamental fact: The fear of God.

"And unto man he said, Behold, the fear of the Lord, that is wisdom; and to depart from evil is understanding." (Job 28:28)  As one learns the fear of God.

"The fear of the LORD is the beginning of wisdom: a good understanding have all they that do his commandments: his praise endureth for ever." (Ps. 111:10) The fear of the Lord God will encourage His people to do (obey) His Commandments.

"The fear of the LORD is the beginning of knowledge: but fools despise wisdom and instruction." (Pro 1:7) His people gain knowledge from understanding the fear of God, but the foolish unbelievers despise wisdom and instruction.

I have checked before, but had forgotten how many times the phrase, "The fear of the Lord" is linked to wisdom and knowledge. Evidently, God chose to emphasize this fact to pound it into our hearts and minds. Thus, it is important that we understand that without a fear of the Lord our God, there is not wisdom. 

We should be convicted by this information and all education must begin with the fear of the Lord as the source of all wisdom and knowledge. Further without wisdom, understanding cannot exist. This should be an essential foundation for all teaching in families, schools, and churches. The way to live day to day in every area of life is wisdom which comes centers on the fear of God and is found it His word. Unless this wisdom, God's wisdom is presented in every area of learning, there will be no true understanding. 

The fear of the Lord is a precious thing. The fear of the Lord was easier to understand in the olden days when nations were ruled by kings who had absolute power over all their subjects. Remember how John the Baptist's head was removed by a king who simply wanted to thank Salome for a wonderful dance. This clearly shows the power of an earthly king. However, we are speaking of the complete, absolute, and sovereign power of the King of kings. Remember, "It is a fearful thing to fall into the hands of the living God." (Heb 10:31). From Him, there is no higher power to whom one can make an appeal. Many are those who will fall under the judgment of this Sovereign Power. This is something to fear! All unbelievers will suffer this end. They will forever be left in the true Hell from which there is no escape.

His people are brought to life from the Bondage of Sin (Luther's masterpiece of a book) by the power of the Holy Spirit, led to Christ for salvation and then empowered to be obedient to their Savior.We must praise God daily for saving us from eternal Hell to an abundant life with Him.

By the way, I hope all of your portfolios are to new highs. We are rejoicing in the recent moves. Praising the Lord!

Payvand Iran News:

Value of Iran's gold reserves triples: central banker
Source: Mehr News Agency To prevent a freeze of its foreign reserves Iran withdrew its deposits from foreign banks and allocated 13 billion dollars of that reserves to buying gold and now that value of that gold has tripled. Central Banks are buying gold to add to their reserves. HERE.

Bloomberg:


Gold Climbs Above $1,900 as Concern About Slowing Economies Stokes Demand
Gold gained above $1,900 an ounce in London as concern about slowing economic growth and Europe’s debt woes spurred demand for a protection of wealth. This is in foreign trading, but it shows that there is continuing demand for the precious metal. Read it HERE.

MineWeb:

Swiss currency peg hits gold price
Switzerland's decision to peg its currency to the euro on Tuesday shook financial markets and battered the franc, putting the price of bullion in Swiss francs for its largest daily gain in three years.
Gold fell from record highs on Tuesday, after Switzerland's decision to peg its currency to the euro shook financial markets and battered the franc, putting the price of bullion in Swiss francs for its largest daily gain in three years.This is a shocker. I have some Swiss Francs and wonder about the impact upon them. I certainly would rather have it pegged against the Euro than the dollar, but I liked it to be separate, independent, dependent upon the Swiss action and not that of other nations. HERE.

The Daily Pfennig on the Swiss move (Pfennig@EverBank.com):OK. this morning. something big has happened to the Swiss franc in the overnight trading. The Swiss National Bank (SNB) has stepped into the currency markets BIG TIME, folks.. and this time it's not just intervention, which has shown to be non-effective to stem the franc's rise. This time the SNB has stepped outside the lines. They have basically taken the franc off the "list of free floating currencies". The SNB announced that they had set a maximum amount the franc would rise to at 1.20 francs to euros. The franc immediately dropped 6.7% VS the euro. and over on the franc to dollars cross, it lost another 6%... You see, the SNB's manipulation of the franc is mainly against the euro, but, because of all the crosses in currencies. if francs are getting sold against euros, they'll also get sold against dollars, and yen, and every other currency cross. Now. you may recall that a couple of years ago, the SNB said they wanted to defend the franc / euro cross at 1.50. And that was impossible to do for the SNB to defend, because at that point the franc was still considered weak. Now.. the SNB has picked a rate that still represents franc strength. and the SNB hopes this doesn't upset the markets too much. The SNB has announced that they will defend the level by buying large quantities of other currencies, which in this case would be euros. So much for an independent free moving currency.

Back to MineWeb:

Gold and other mineral exploration opportunities abound in India E&Y
Despite Indian gold consumption increasing at a CAGR of 7.5% between 2006 and 2010, limited resources for exploration activity and policy complexity have constrained exploration activities in the country. This may open a whole new world of mineral discoveries. HERE.

Gold price rise above $1,900/oz
The gold price moved past the $1,900 mark on Monday, with expectations widely focused on the US implementing a further round of monetary easing after Friday's gloomy payrolls data. HERE.

Strong gold bullion coin sales, silver bullion coin sales drop in August-U.S. Mint
The U.S. Mint reported 54,000 ounces in sales last month of the new America the Beautiful 5-oz silver bullion coins. HERE.

Governments increasingly buying gold
Venezuela's decision to retain 100% of its gold production could turn out to be a rather prudent investment decision and one other nations come to copy, says Julian Phillips, and it could have a cumulative impact on global supplies of the metal. HERE.

Metals stock volatility to increase but, so will opportunity - Rick Rule
According to Rick Rule, volatility across the board is likely to increase as politicians continue their debt dance but, he says, the expected swings offer opportunities. HERE.

Money managers trim gold longs, raise copper short
According to Reuters data, COMEX gold futures positions held by managed money declined for the fourth week in a row while speculative short positions in copper rose. They must be expecting contraction, recession, or depression. Think? HERE.

Technical analysis: The start of a precious metal momentum move
This past Friday saw an important breakout in both the HUI and the GDX ETF indices that would seem to confirm the beginning of a momentum move for precious metals stocks. If true we are nearer the 3rd phase than I had imagined. Of course, I still look to the markets to speak in terms we can understand. However, the intervention muffles the speech. HERE.

Free Gold Money Report by James Turk:

Mining stocks – On the runway, ready for take-off
September 5, 2011 – Gold has been rising faster than the price of mining stocks.  Here are some statistics to prove this point.
In the twelve months ending August 31st, gold has risen 46.5%, but the XAU Index of precious metal mining stocks climbed only 17.7%.  By itself, that is a good rate of return for mining stocks, but not what one would expect given gold’s appreciation over this period. With a great graph HERE.

GATA:

FLASH: China knows about gold price suppression, and U.S. knows China knows
China knows that the U.S. government and its allies in Western Europe strive to suppress the price of gold, and the U.S. government knows that China knows, according to a 2009 cable from the U.S. Embassy in Beijing to the State Department in Washington.
The cable, published in the latest batch of U.S. State Department cables obtained by Wikileaks, summarizes several commentaries in Chinese news media on April 28, 2009. It is very hard to keep a secret, particularly, when it is designed to cover a lie. The west has continually lied about the manipulation of these markets. Some of the naive even believe the lie. HERE.

Miners from Scottrade:

Currencies from KitCo:

Some Prices: DOW off 248.54 to 10993.84; S&P off 25.98 to 1148.75; NASDAQ off 46 to 2434; Gold up 4 to 1901.70, Silver down 0.25 to 42.62. Metals are quite strong while the general market is off badly early today.

Best to each, Doug