Thoughts on Markets

Wednesday, November 09, 2011

Judgment Day Will Come! - Silver Wheaton - IAMGOLD - Dollar Up - Metals Down - Taxation of Corporations? -

We must always remember that we cannot trust governments which are run by men who are ignorant of the Law-Word of God or fail to apply it to all of their service in government. Men are forever changing while the law of God is forever the same. 

When people, families, churches, or governments ignore the law of God contained in both the Old and New Testaments, the result is chaos. So called "New Testament Churches" often ignore the application of God's law as passe except for the Ten Commandments. It is very difficult to apply God's law without the insight of the Old Testament examples of civil laws and corresponding punishments for violations. We cannot please God without having Godly law for civil governments as contained in the Old Testament. Much of common law and even the aborted laws of today reflect these in principle. 

King Jesus rules and is through His body, the church of today, is taking dominion until all the nations are under His foot. Then He will deliver them to the Father and we shall all appear before the Great White Throne of judgment. We must praise Him daily for reconciling His people with the Father before the final day. Rejoice in the Lord always, and again, as Paul wrote, rejoice!

Town Hall:

Ignorance Exploited
Walter E. Williams
Virginia has a car tax. Does the car pay the tax? In most political jurisdictions, there's a property tax. Does property pay the tax? You say: "Williams, that's lunacy. Neither a car nor property pays taxes. Only flesh-and-blood people pay taxes!" What about a corporation? As it turns out, a corporation is an artificial creation of the legal system and, as such, a legal fiction. A corporation is not a person and therefore cannot pay taxes. When tax is levied on a corporation, who pays it? HERE.

Kit Co News:
Jim Wyckoff A.M. Kitco Metals Roundup: Comex Gold Sees Modest Selling Pressure As EU Debt Crisis Escalates
09 November 2011, 8:00 a.m.
By Jim Wyckoff
Of Kitco News
Comex December gold futures prices are modestly lower in early U.S. trading Wednesday. It’s a “risk-off” day in the market place so far Wednesday as European and U.S. stock markets have sold off sharply amid an escalation in the European Union sovereign debt crisis. Despite being a safe-haven asset, the gold market is succumbing to the selling pressure seen across the commodity market spectrum so far Wednesday. Some profit-taking pressure from recent solid price gains is also occurring in the precious yellow metal. December gold last traded down $6.00 at $1,793.20 an ounce. Spot gold last traded up $7.00 an ounce at $1,792.50. December Comex silver last traded down $0.378 at $34.775 an ounce. HERE.


UPDATE 1-Silver Wheaton Q3 profit jumps; raises dividend
Silver Wheaton Corp reported a 96 percent jump in third-quarter profit, driven by strong silver prices, and the company tripled its dividend for the current quarter.
The company has linked dividend payments to operating cash flows in the prior quarter and will now pay a dividend of 9 cents per share in the fourth quarter. Another of my core holdings among silver miners. HERE.

Mine Web:  

Have gold stocks really underperformed bullion?
Major and mid-tier gold stocks have mostly kept up reasonably well with the rising gold price over the past three years, but the market wants more, so will this come about with the big earnings increases now being achieved. HERE.

Gold falls on strong dollar, Italy debt fears mount
Gold fell from Tuesday's high of $1,802.60, its strongest since late September, on Wednesday as the dollar strengthened and doubts about Italy's ability to tackle its debt problems persisted. HERE.
Gold to average $2025 an ounce during very volatile 2012 - HSBC
HSBC analyst, James Steel says the group expects the yellow metal to trade between $1,700 and $2,300 next year as safe haven buying returns and the risk on, risk off scenario continues. This is certainly quite possible. I still look for gold to be about 2000 by year end. However, it continues to struggle against intervention and profit taking, so it could miss my expectation. HERE.

IAMGOLD reports 182% in 3Q11 adjusted net earnings
IAMGOLD announced that its adjusted net earnings for the first nine months of this year increased 186% as 3Q11 adjusted net earnings rose 182%. Another core holding. HERE.

Miners from Scottrade:

Currencies from Kit Co:
Metals Prices: Gold up 1.20 to 1786.30 and Silver down 0.44 to 34.46. Silver is beginning to see more retail buying of the metal. It is the "poor man's gold." Can it be that some of the masses are seeing the light? Gold demand remains strong, too.

Best to each, Doug


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