HIA II Coming? - Selling Some Fortuna - Gold & Silver Rebounding after Capping - Currencies - Miners

This will be a bit short today, because I wanted to let you know that I am selling some shares because of the following:

Chuck Butler in today's Daily Pfennig discussed the Homeland Investment Act (HIA) in 2005. This was designed to allow corporations to repatriate dollars back from abroad to enable them to hire more Americans. This was to improve the employment situation. Though the lower tax rates for these dollars did flow back into the U. S., there was little to no improvement on the jobs scene.

Obama has his back against the wall and will be searching for some way to make us feel he is doing a good job on the economic front. I believe he will request funds for infrastructure improvement like unto FDR's CCC, NRA, etc. 

The corporations seem to be pushing for a second HIA. As Obama struggles to gain support, he may tonight announce plans for HIA II. To politicians it makes little to no difference whether plans work or not. The idea is to through more dollars at a failed project to make all believe they are really interested in solving a problem. The result will be more wasted dollars. It seems to be always the same with government programs and "solutions."

If it comes to fruition, the dollar should move up against other currencies and cause the prices of gold and silver to correct more. For this reason and in anticipation of lower metal prices, I am selling a few shares of Fortuna in which I have considerable profit. This will be a limited sale and not a sell out of any of my portfolio holdings. Still have large holding in Fortuna and others.  

KingWorldNewsBlog:

Hathaway - Gold Will Now See Massive Mainstream Fund Flows  
With gold and silver correcting, today King World News interviewed John Hathaway, the prolific manager of the Tocqueville Gold Fund.  When asked about the action in gold Hathaway responded, “To me it’s just standard operating procedure for how markets correct.  It got a little scary when gold touched $1,900 a couple of times because it was so stretched out and normal market protocol calls for some backing away. HERE.

Vanguard Wealth Series:
 
Gold; Bullion and Stocks
Listen to Robin Bromby HERE:


MineWeb:

Indian gold investors moving from bangles to bars
While demand for gold in India remains unmatched, younger generations seem more interested in the metal as a pure investment rather than adornments. HERE.

Miners from Scottrade:

 Currencies from KitCo:

Some Prices: DOW off 19.15 to 1190; S&P off 4.32 to 1194.30; NASDAQ off 3.42 to 2545.16; Gold up 42.70 to 1860.00; Silver up 0.94 to 42.49.

Best to each, Doug