Obama's Speech Encouraged the Dollar at the Expense of All Markets! Currencies, Gold, Silver, Dow, All Except Dollar Down. King Jesus rules all, sustains His people, and will come as absolute judge.
We must rejoice in our King Jesus, as true joy comes from Him along with every perfect gift. The gift of salvation for His people is the greatest gift of all. It is truly a gift by the grace of God, the Father and is applied by God, the Holy Spirit. It is wonderful that such an all knowing, all powerful, all present God loves His people so strongly as to provide everything they need and then takes them to Heaven to be with Him forever. Such a blessing, we can only partly understand. On the other hand, it is well to recognize the true fear of the Lord. That is the beginning of wisdom and knowledge. True wisdom and knowledge comes only form the living God to whom all must eventually answer at the Great White Throne of Judgment.
Gold and silver on the other hand seem subject to further manipulation and intervention. One has to wonder what the prices would be today in a free market. There is little doubt in my mind that they would be much higher. The War of Gold continues with an apparent cap of about 1900. Some day, those involved will be overwhelmed by unforeseen daily continuous jumps in the price of the precious metals. When? That is the unknown to man. In the mean time, gold seems to be taking on more of a monetary role with silver getting there, too.
MineWeb:
The ever-strengthening case for gold and silver investment
Day by day, the case for holding gold and silver seems to get stronger as global economies remain mired in recession and the centre of precious metals demand moves ever eastwards. Central banks continue to accumulate the metals. China is doing it big time. Perhaps, they are buying on every one of these dips. Perhaps, I should be, too. HERE.
Gold climbs less than a percent ahead of G7 talks
Gold prices added to this week's losses by rising nearly 1% on Friday, ahead of a G7 finance ministers' meeting this weekend at which officials are expected to take action to revive economic growth. These are generally do nothing meeting as the work is most often done by the underlings. HERE.
Gold likely to be mixed as markets digest U.S. jobs plan, E7 summit
The price of gold rose in Asia and London today as the Swiss franc continues to weaken as markets made sense of Obama's jobs plan and looked ahead to the outcome of an E7 summit. A closer examination of the jobs plan will reveal more smoke and mirrors as people begin to realize that this is simply another band aid or temporary fix. HERE.
Mining's ups and downs driving Canada's Northern economies
Nunavut and Yukon will experience strong economic growth this year, thanks to mining, but the Northwest Territories' mining sector is creeping along, says a new Conference Board of Canada report. Canada's economy is largely based upon commodities and that is one of the main reasons for the increase in value of the CDN Dollar vs. the U.S. Dollar. HERE.
China Confirms Gold Price Suppression
Julian Phillips takes a look through history and sees some evidence to China's claims, recently broadcast on Wikileaks, that the US and Europe have engaged in gold price supression. This has been mentioned a few times by China's Hu. Now it is becoming more prominent in media. HERE.
ZeroHedge:
Goldman Head Gold Trader Speculates About "Authority" Intervention In Gold, Sees Precious Metal Pushing Higher
From Goldman's head gold trader Zak Dhabalia (i.e., someone that can not be found on 360) who says what only fringe blogosphere dares to speculate: namely that central banks and/or metals excahnges (CME/LBMA) openly intervene at key inflection point to slam the price of gold down. More importantly, according to Zak, now that the latest "authority" intervention has been priced in, it is up, up and away for the yellow metal yet again. It is difficult to deny manipulation when it is so openly admitted by those involved, as well as those in the know. HERE.
GATA:
Julian Phillips and even Dennis Gartman see gold price suppression
Julian Phillips of Gold Forecaster today takes note of the cables from the U.S. embassy in Beijing confirming the Chinese government's knowledge of the Western central bank gold price suppression scheme. Phillips writes: "The Chinese are absolutely correct in believing that the United States and Europe have suppressed the price of gold. The evidence is glaring at us through history." This and the links in the article should be read. HERE.
Currencies from KitCo:
Best to each, Doug
The president's speech last night promised short term employ for repair and construction of infrastructure similar to that of FDR and his make work projects. Of course, there was no solid proposal as to financing of the projects. Thus, one must assume an increase the the obscene debt of America without a means of repayment without QEIII or some equivalent. There was a mention of lowering business taxation, but no details. I wonder if, though not mentioned, is that the HIA I mentioned yesterday? Therefore, as is often said, the Devil is in the details.
The markets do not seem pleased or encouraged by the speech. His words sounded more like campaigning than informing the people. Those hit most by the high taxes here are not impressed. The DOW begins the day off about 175 or so. How is that for a second to the proposals by the president?
MineWeb:
The ever-strengthening case for gold and silver investment
Day by day, the case for holding gold and silver seems to get stronger as global economies remain mired in recession and the centre of precious metals demand moves ever eastwards. Central banks continue to accumulate the metals. China is doing it big time. Perhaps, they are buying on every one of these dips. Perhaps, I should be, too. HERE.
Gold climbs less than a percent ahead of G7 talks
Gold prices added to this week's losses by rising nearly 1% on Friday, ahead of a G7 finance ministers' meeting this weekend at which officials are expected to take action to revive economic growth. These are generally do nothing meeting as the work is most often done by the underlings. HERE.
Gold likely to be mixed as markets digest U.S. jobs plan, E7 summit
The price of gold rose in Asia and London today as the Swiss franc continues to weaken as markets made sense of Obama's jobs plan and looked ahead to the outcome of an E7 summit. A closer examination of the jobs plan will reveal more smoke and mirrors as people begin to realize that this is simply another band aid or temporary fix. HERE.
Mining's ups and downs driving Canada's Northern economies
Nunavut and Yukon will experience strong economic growth this year, thanks to mining, but the Northwest Territories' mining sector is creeping along, says a new Conference Board of Canada report. Canada's economy is largely based upon commodities and that is one of the main reasons for the increase in value of the CDN Dollar vs. the U.S. Dollar. HERE.
China Confirms Gold Price Suppression
Julian Phillips takes a look through history and sees some evidence to China's claims, recently broadcast on Wikileaks, that the US and Europe have engaged in gold price supression. This has been mentioned a few times by China's Hu. Now it is becoming more prominent in media. HERE.
ZeroHedge:
Goldman Head Gold Trader Speculates About "Authority" Intervention In Gold, Sees Precious Metal Pushing Higher
From Goldman's head gold trader Zak Dhabalia (i.e., someone that can not be found on 360) who says what only fringe blogosphere dares to speculate: namely that central banks and/or metals excahnges (CME/LBMA) openly intervene at key inflection point to slam the price of gold down. More importantly, according to Zak, now that the latest "authority" intervention has been priced in, it is up, up and away for the yellow metal yet again. It is difficult to deny manipulation when it is so openly admitted by those involved, as well as those in the know. HERE.
GATA:
Julian Phillips and even Dennis Gartman see gold price suppression
Julian Phillips of Gold Forecaster today takes note of the cables from the U.S. embassy in Beijing confirming the Chinese government's knowledge of the Western central bank gold price suppression scheme. Phillips writes: "The Chinese are absolutely correct in believing that the United States and Europe have suppressed the price of gold. The evidence is glaring at us through history." This and the links in the article should be read. HERE.
Citizens Committee for the Right to Keep and Bear Arms:
Obama Goes Into Lame Duck Mode Against Gun Owners!
Obama's increasingly desperate now. With his negatives as low as they are, even his base is beginning to lose hope in him. If things get bad enough, he'll go into lame duck mode. That means; he'll do as much damage as he can before the election...
While the vast federal regulatory super-state remains in the power of a freedom hating cabal of leftists.
So what does that mean for gun owners?
The fact is, the fate of your gun rights lies in the hands of a president who is planning on using regulatory fiat to SNATCH them away. Gun owners MUST be prepared for Obama's onslaught of anti-gun laws. This site gives one the opportunity to send faxes to the legislatures. HERE.
Obama's increasingly desperate now. With his negatives as low as they are, even his base is beginning to lose hope in him. If things get bad enough, he'll go into lame duck mode. That means; he'll do as much damage as he can before the election...
While the vast federal regulatory super-state remains in the power of a freedom hating cabal of leftists.
So what does that mean for gun owners?
The fact is, the fate of your gun rights lies in the hands of a president who is planning on using regulatory fiat to SNATCH them away. Gun owners MUST be prepared for Obama's onslaught of anti-gun laws. This site gives one the opportunity to send faxes to the legislatures. HERE.
Miners by Scottrade:
Notice how the temporary strength of the dollar has hit the Canadian Dollar and the Euro. The dollar has been depressed for too long a time and may be taking a breather to the upside for a while here.
Some Prices: DOW down 240.75; S&P down 23.04 to 1162.86; NASDAQ down 37.04 to 2492.17; Gold down 9.10 to 1860.50; Silver down 0.38 to 41.96, Both metals were lower earlier.
posted by Doug @ 10:34 AM
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