Thoughts on Markets

Tuesday, September 20, 2011

More Manipulation of Metals Prices - Gold & Silver Up - Miners Showing Strength - Dollar Holding Well in spite of fundamentals - Greece Still a Thorn in the Side - God Looks Down From Heaven at the Folly of Man.

Psalm 2:
"Why do the heathen rage, and the people imagine a vain thing?
The kings of the earth set themselves, and the rulers take counsel together, against the LORD, and against his anointed, saying,
Let us break their bands asunder, and cast away their cords from us.
He that sitteth in the heavens shall laugh: the Lord shall have them in derision.
Then shall he speak unto them in his wrath, and vex them in his sore displeasure.
Yet have I set my king upon my holy hill of Zion.
I will declare the decree: the LORD hath said unto me, Thou art my Son; this day have I begotten thee.
Ask of me, and I shall give thee the heathen for thine inheritance, and the uttermost parts of the earth for thy possession.
Thou shalt break them with a rod of iron; thou shalt dash them in pieces like a potter's vessel.
Be wise now therefore, O ye kings: be instructed, ye judges of the earth.
Serve the LORD with fear, and rejoice with trembling.
Kiss the Son, lest he be angry, and ye perish from the way, when his wrath is kindled but a little. Blessed are all they that put their trust in him.

Man has been warned to many times. God warned the nation Israel so many times through His prophets, but now He warns us through the written word. We cannot say, "We did not know, so we are innocent!" All men know that God is an awesome fearful enemy, so many try to hide from Him. But where can a man or a nation hide from the all-seeing eye of God. As we go about doing our own thing, "He that sitteth in the heavens shall laugh" at our folly. But will eventually destroy the man or nation who turn their backs on Him. We are experiencing His call for repentance. Let us get on our knees, pray to Him, repent, and turn back to His way before it is too late for us as individuals, families, churches, and as a nation.


Mining royalty companies say they can outperform gold prices-DGG Forum
Mining royalty companies suggest that they are outperforming other gold investments, making their biggest profits on the commodity cycles. Even the gold and silver ETFs are less volatile than the metals and miners. HERE.

Gold up on Italy downgrade
Prices of the yellow metal rose in early trade in London after Standard & Poors downgraded Italy's credit rating, adding further strain on the euro zone. Financial and other perceived problems and unrest almost always impact the prices of real money. HERE.

Eastern demand for gold still largely untapped - Holmes
In a wide ranging discussion with the WGC's Jason Toussaint, US Global's Frank Holmes gets an idea of just how much potential there is for gold demand from both central bank and retail investors in the east. Remember, the demand for gold in China and in much of the far East is relatively new or at least rapidly expanding. HERE.

Venezuela formalises gold industry nationalisation
President Hugo Chavez's government issued a decree on Monday that prohibits the export of the metal from the country and gives the state 55% of joint ventures. Sad, but I think true. HERE.

Dollar regaining some shine as gold loses lustre
As Europe's problems grow, traders say the much-maligned dollar and U.S. treasuries are benefitting from heightened fears with the yellow metal losing out somewhat as a result. The bear market for dollar is on temporary hold. The question is for how long? Last big run up lasted about nine months. Can this one match that? I doubt it. HERE.

CEOs bullish on gold price
If the heads of the world's major gold miners are to be believed, gold prices have nowhere to go but up with some even saying that conditions have never been better for the yellow metal. Of course, they should be. After all they have a vested interest in promoting the price of gold. HERE.

Iamgold shares up on promising drill results
The Canadian gold miner said drill results from exploration near its existing mines in Burkina Faso showed excellent promise" and it encountered significant mineralized intersections at its Koemboe project in Suriname. Good news for another one of my core holdings. HERE.

I believe the current correction in metals is a result of manipulation by the bullion banks. Be aware, it can continue as long as they want. Maybe they will go ahead and cover their shorts and take long positions before too long. After all, we are moving into the high general demand period for both silver and gold. Here are the latest graphs from KitCo:


: Thomas Sowell
Thomas Sowell 
The 'Ponzi' Sound Bite
Many in the media and in politics have gone ballistic over the fact that Texas Governor Rick Perry called Social Security "a Ponzi scheme."
Although many act shocked, shocked, as if Rick Perry had said something unthinkable, Governor Perry is not even among the first thousand people to call Social Security a Ponzi scheme. Not only conservatives, but even some liberals, have been calling Social Security a Ponzi scheme for decades. It is a Ponzi scheme and was from the first. HERE.

Chuck Norris
Chuck Norris 
How Stimulus Monies Are Radiating You
Smart meters are being installed stealthily by water, gas and electric utility companies on houses and buildings across the country. Despite that, the majority of the public still doesn't know about their potential health risks.
From the moment smart meters began to be installed, a rash of serious health complaints in each community has followed -- to date, largely going unheeded by officials. These aren't hysteria or hype, but bona fide national health concerns about what is being emitted from smart meters and their cumulative effects on "electrosmog" in our homes. In short, electrosmog is pollution through electromagnetic energy. It is being produced by this vast post-Edison world, in which electromagnetic fields and flows have inundated the space around us. This could be a real health threat. HERE.

David Limbaugh
David Limbaugh 
The Lecturer in Chief Has Forfeited His Moral Authority
As predictable and repetitive as Obama's economic speeches are, his capacity for audacity shows ever increasing signs of creativity. Do you suppose he has any ability to feel shame for what he's doing to this country and embarrassment for blaming everyone but himself? HERE.

Free Money Gold Report:

The Swiss National Bank Gives Up
September 19, 2011 – The Swiss National Bank finally gave up.  For months it tried standing alone against all of the bad monetary policies being pursued by the ECB, the Federal Reserve, the Bank of England and indeed, nearly all of the central banks of the world, but it was a losing battle.  So last week the Swiss National Bank succumbed to these pressures and pegged the Swiss franc to the euro. James Turk always is interesting and this has good graphs. HERE.

Miners from Scottrade:

Currencies from KitCo:
Some Prices: DOW up 43.44 to 11445; S&P up 5.99 to 1210.13; NASDAQ up 15.75 to 2628.99; Gold up 27.20 to 1805.70, and Silver up 0.44 to 40.09. Good to see Gold > 1800 and Silver > 40.

Best to each, Doug


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