Political messiahism - Trade War Threats - Gold & Silver still Correcting - Miners in Buying Range - Dollar Strong - Euro Hit

Folks, 

There are reports of a bill in the Congressional Halls of the U.S. threatening to place restrictions on trade (imports) from China. In my opinion, we should have a free international trading market. Thus, we and the citizens of all countries would have an opportunity to export and to import the products which meet our quality requirements at the least cost. 

When one considers that China is the target of a great deal of rhetoric, it must be seen as playing with fire. China, regardless of your like or dislike of China and her products, has been the engine which has supported the U.S. by buying our debt to support our out of control spending. Without the Chinese, we would already be openly bankrupt before the world. It is dangerous to poke your supporter in the eye with a stick. 

We could be on the brink of starting a war of protectionism which greatly exceeds that which contributed to the other Great Depression. Further, too often protectionism has historically resulted in shooting wars. We should not be interested in escalation of the wars in which we are currently engaged. A Greater Depression, as our present situation seems to be headed for as often mentioned by Doug Casey, could be the end of the U.S.

There are many who blame China for our financial woes, but we are to blame by getting too involved around the world and by making special deals with China. It is mostly our doing. We always accuse the Chinese of manipulating their currency and forgot to get the log of dollar manipulation we do consistently.  

This is a very serious matter. We should all contact our congressional representatives and senators and tell them to back off.

TownHall:






Stop Whining'? 
Thomas Sowell
If there was ever any doubt that the Democrats take the black vote for granted, that doubt should have been put to rest when Barack Obama told the Congressional Black Caucus, "Stop whining!"
Have you ever before heard either a Democratic or a Republican leader tell his party's strongest supporters, "Stop whining"?
Blacks have a lot to complain about, not just about this Democratic administration but about many other Democratic administrations, national and local, over the years. HERE.





Stopping Obama's 'Pay Their Fair Share' Shenanigans
Chuck Norris
The White House's buzz words for the propaganda campaign to raise taxes on the wealthiest Americans and corporations are "pay their fair share." But is President Barack Obama's pitch reflecting honest economic inequity or more dishonest spin from his bag of duck-'n'-weave political manipulations?
This year alone, nearly every member and minion of this administration (including the mainstream media) has regurgitated "pay their fair share" like cows chewing cud. They have done so to prompt Americans to feel that the wealthy are getting a free ride regarding taxation while lower- and middle-class folks pay their societal ticket. HERE.






Messiah Complex: The Sequel?
Cal Thomas
Listening to some establishment Republicans grousing about the field of GOP presidential candidates should serve as a warning. Republicans, if they are not careful, are in danger of catching the same virus that infected Democrats in 2008.
That would be a messiah complex, the belief that one man (or woman) can deliver us from our collective economic, social and foreign policy "sins" and bring redemption to a nation from the consequences of too many wrong-headed choices.
Perhaps a Republican president with a 60-vote, veto-proof Senate majority and an expanded House majority might be able to revolutionize government, but only if squishy Republicans in both bodies went along, which seems problematic, especially on big issues. Even the Republican Party has the messiah complex > knight in shining armor complex arriving on the scene. Both major parties suffer from this complex, just as Obama has epitomized it throughout his reign and campaign. There is only one Messiah, and that is King Jesus Who rules as Sovereign over all. Call Thomas is right on about the illusion in the minds of both parties and our citizens. HERE.

MineWeb:

More QE needed as western worries hit base metals -Edison
Edison Investment Research's Charles Gibson looks at some of the reasons behind the recent falls in base metals and argues the case for further quantitative easing. Listen to the Pod Cast HERE.

Silver price to average $36.11/oz this year, $39/oz in 2012-TD Securities
Silver disappointed yet again this summer, experiencing one of the sharpest declines in the commodity space. Meanwhile silver surpluses are building, which bodes ill for the white metal. HERE.

Savers turn to gold while between a rock and a hard place
Policy-makers have little choice left but make gold only more attractive for investors looking to preserve their cash as global economists try to deal with today's mountain of debt. HERE.

Gold rises as on fears Greek default could hurt stock markets
European gold prices climbed 0.7% on Tuesday to $1,668.19 an ounce, amid fears that debt-ridden Greece could be heading for a default, potentially hurting stock markets. HERE.

Here is the gold graph from StockCharts.com for yesterday. Gold is giving mixed signals at this time. It is down 35.70 to 1627.40 at present. I am still not selling though we have taken big hits. Even the miners are presently down in concert with the broad markets. One wonders where there is safety and security other than the Lord. Of course, there is none that is as certain as with King Jesus. We will now continue with more from MineWed.

Price fall makes for buying opportunities in gold mining stocks

Canaccord Genuity's Steven Butler didn't expect mining equities to fall as hard as they did after the gold price tumbled but believes the drop has created some welcome bargains. Gold Report interview. HERE.

A Long term focus is important amid all the volatility
While prices have fallen significantly in recent weeks and volatility continues to rise, David Levenstein looks at what has actually changed, if anything. The fundamentals have not changed. Looking from a biblical view, Christians always have a longer term view. They are preparing the children to continue the work of spreading the knowledge of , acceptance of, and spread of the Kingdom of King Jesus. The way to do this is to teach them first the fear of the Lord which is the beginning of wisdom and then to prepare them financially to have the means to do the kingdom work. Of course, this article does not see it from this perspective, but the long term focus is important. HERE.

The Daily Pfennig (pfennig@everbank.com): "Another thing that's crucial these days is not having debt. These past 9 years, with debt plaguing the performance of the dollar, has been quite interesting, watching the debt explode to the upside, and the dollar implode to the downside. But now, the Eurozone has taken on their own debt problems, and so it is that investors look for a safe haven. The U.S. has debt coming out its ears, has had its credit rating downgraded, and has just scratched the surface of debt, with the unfunded liabilities staring us right in the face. The Eurozone peripheral countries, otherwise known as the PIIGS or GIIPS, whichever you prefer. for me, I just call them the debt ridden countries of the Eurozone! Well, the Eurozone no longer offers a respite from the dollar and all the U.S. debt. I've said for some time now that the reason the euro was able to maintain its very strong margin against the dollar was that the dollar was uglier. it was an ugly contest and the dollar was the winner. But guess who's catching up? The markets are looking over the euro with a magnifying glass these days, and they don't like what they see. pimples, skin rashes, hairy growths. you name it, not only does the dollar have them but so too, the euro." Debt has a history of being the destroyer of families, churches, and governments of all types. Remember as the families and churches go, so goes the nation in which they live. A nation is blessed by the fear of the Lord by the families and churches. When they lose this fear, the blessing of the nation by God becomes a wrathful judgment through which God is warning them to repent and return to Him. That is not fun for the citizens who fail to respond to His call.

Miners from Scottrade:

Currencies from KitCo:

Some Prices: DOW off 164.83 to 10489.86; S&P off 10.92 to 1088.41; NASDAQ up 3.86 to 2339.52; Gold off 42.60 to 1618.30; Silver off 0.97 to 29.52. The entire market seems to be running in crash mode. Silver is in a good buying range for me, but the premiums remain high. I am interested in buying some more pre-1965 90% silver coins.

Best to each, Doug