The Moneychanger is happy to report that his wife is recovering exceedingly speedily from her heart surgery on 3 July.  She had her mitral valve replaced & her tricuspid valve repaired, so maybe that will hold her for another 20 years.  While she was in the pre-operative suite just before surgery her surgeon came in and told us he would probably have to replace her mitral valve with a pig valve.  Then he looked at me seriously and said, "There are just two problems with that."  I braced myself, and he went on.  "First, every time it rains she'll want to go outside and wallow in the mud.  Second, if she gets loose in a cornfield you'll never get her back."      I'll take that chance.      The speed and strength of Susan's recovery astonishes everyone -- utterly like the last surgery 4 years ago.  She was out of CVICU in about 24 hours, and if all goes well can go home Saturday.      I credit her swift recovery to God's grace and your prayers, and I most heartily thank you for your generous concern. Please forgive me for not answering all your emails personally. Believe me, I have read them all with gratitude.      God willing I will return Monday with a full commentary. Meantime, don't let today's decline rattle you.  Gold & silver remain well within bullish grounds, & are only building a platform for a rally later. paper gold and silver products. These are not for the inexperienced.

NOR do I recommend buying gold & silver on margin or with debt.

What DO I recommend? Physical gold and silver coins & bars in your own hands.

One final warning: NEVER insert a 747 Jumbo Jet up your nose. Footnotes:

The US DOLLAR INDEX is a average exchange rate for the US dollar against the Euro, Yen, Pound sterling, Canadian Dollar, Swiss Franc, and Swedish Krona, weighted for each country's trade with the US. It gives a general measure of the US dollar's performance against all other currencies.

The DOW IN GOLD DOLLARS measures the Dow Jones Industrial Average in gold dollars (0.048375 troy oz. by law). The DiG$ depicts the Primary (20 year) Trend of stocks against gold. When the DiG$ is dropping, gold is gaining value against stocks in a trend that should last 15 - 20 years. The DiG$'s chart is identical to the Dow in ounces of gold, but gives us one unvarying measure all the way back to 1896. Because it shows the primary trend ("tide") of gold against stocks, for investors it is the single most important financial chart in the world today. Since its August 1999 high at G$925.42 (44.8 ounces), the DiG$ has trended down, targeting a G$41.34 - G$20.67 (2 - 1 oz. of gold will buy the whole Dow).

The DOW IN SILVER OUNCES shows how many ounces of silver are needed to buy the entire Dow. The DiSoz is trending down with a target of under 36 ounces.

The GOLD/SILVER RATIO is the gold price divided by the silver price, & shows how many ounces of silver it takes to buy one ounce of gold. The Ratio shows us the Primary (20 year) Trend of gold's value against silver. When the Ratio's trend is dropping, silver is gaining value against gold. This trend targets a gold/silver ratio of 16 ounces of silver to one of gold within the next 5 - 10 years. That implies that silver will massively, vastly outperform gold before this bull market ends. When both metals are rallying, the ratio often (but not always) drops, confirming the rally. CLOSES 5-Jul-12 Price Change % Change Gold, $/oz 1578.40 -30.5 -0.0189570514016 Silver, $/oz 26.889 -0.749 -0.0271003690571 Gold/SilverRatio 58.70 -1.11763031632 -0.018683779369 Silver/Gold Ratio 0.0170356056766 -0.000471148276764 -0.0269123721061 Platinum 1446.80 62.70 0.0453001950726 Palladium 578.85 20.65 0.0369939089932 S&P 500 1348.79 1.62 0.00120252083998 Dow 12717.6 -24.44 -0.00191806021642 DowInGOLD$s 166.558618874 2.86066187771 0.0174752448363 Dow in GOLD oz. 8.05727318804 0.138384518334 0.0174752448363 Dow in SILVER oz 472.966640634 11.93 0.0258837685202 US Dollar Index 81.81 -0.07 -0.00085490962384

Prices below are based on current market prices, not closing. SPOT GOLD: 1578.3 NOTE: The following are wholesale, not retail, prices. To figure our retail selling price, multiply "Ask" price by 1.035. To figure our retail buying price, multiply "Bid" by 0.97. Lower commissions apply to larger orders, higher commissions to very small orders. GOLD: Fine Tr.Oz. BID ASK American Eagle 1 1616.1792 1631.1792 1/2 AE 0.5 797.0415 828.6075 1/4 AE 0.25 402.4665 418.2495 1/10 AE 0.1 167.2998 173.613 Aust. 100 corona 0.9802 1531.5791634 1545.5791634 British sovereign 0.2354 371.53182 378.53182 French 20 franc 0.1867 294.66861 301.66861 Krugerrand 1 1595.6613 1610.6613 Maple Leaf 1 1588.3 1608.3 1/2 Maple Leaf 0.5 781.2585 820.716 1/4 Maple Leaf 0.25 390.62925 418.2495 1/10 ML 0.1 156.2517 170.4564 Mex 50 peso 1.2057 1883.7704952 1899.7704952 .9999 bar 1 1583.82405 1594.82405 SPOT SILVER: 26.94 SILVER Fine Tr.Oz. BID ASK Morgan $ B4 1905 0.765 22835.396 26000 Peace dollar 0.765 21835.396 25000 90%SlvrCoinBags 0.715 19369.35 19619.35 US 40% silver 1/2s 0.295 7475.3 7650.3 100 oz..999 bar 100 2694 2744 10 oz. .999 bar 10 274.4 276.9 1 oz .999 rnd. 1 26.79 27.64 Am.Egl, 200oz. Min. 1 28.54 29.24 SPOT Platinum: 1446.8 PLATINUM Fine Tr.Oz. BID ASK Platinum Platypus 1 1471.8 1511.8 The Moneychanger PO Box 178, Westpoint, Tennessee 38486 (888)218-9226; (931)766-6066; fax (931)766-1128 www.the-moneychanger.com franklin@the-moneychanger.com This is not an offer to buy or sell. Prices subject to change without notice. To enter an order, call us at (888) 218-9226 or (931) 766-6066.Sorry, no sales to Tennessee.

While we are on the telephone, I will lock in a price and give you a contract number. That contract obliges me to sell and you to buy at that locked-in price, regardless what later happens in the market. If you buy when gold stands at $300 an ounce, whether it soars to $1,000 or drops to $100, you still bought it at the price we fixed. If you sell when silver stands at $5.00, you still sold and I still bought at that price whether silver rockets to the moon or it gets so cheap they start paying people to haul it off in trucks like sand.

In other words, when you make a contract with us, I am giving you my word, and you are giving me your word, that we will faithfully complete the contract. Just as when you buy stocks or bonds, we cannot change or cancel the order once entered.

After you enter your order, you need to send us payment within forty-eight (48) hours by personal check, United States Post Office (only) money order, or bank wire. If you send a check (whether bank check, bank money order or your personal check) we will hold shipment for fourteen (14) days to allow the check to clear. Please do NOT send a cashier's check. Generally you will receive your order (shipped registered mail or UPS) within three to four weeks from order entry.

Against bank wires we ship within three days. Ask,$/oz. 1631.1792 1657.215 1672.998 1736.13 1576.79979943 1608.03661852 1615.79330477 1610.6613 1608.3 1641.432 1672.998 1704.564 1575.65770523 1594.82405 $/oz. 33.9869281046 32.6797385621 27.4396503497 25.933220339 27.44 27.69 27.64 29.24 $/oz. 1511.8

Argentum et aurum comparanda sunt —
Silver and gold must be bought.

— Franklin Sanders, The Moneychanger

Copyright Notice

© 2015 Little Mountain Corporation, d.b.a. The Moneychanger. All rights reserved. May not be republished in any form, including electronically, without our express permission.

Warnings and Disclaimers

To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary trend is up, targeting 16:1 gold/silver ratio or $195.66; stock's primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold or 16 ounces of silver. US$ and US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down.

Be advised and warned:

• Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short-term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
• NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.
• NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.
• NOR do I recommend buying gold and silver on margin or with debt.
• What DO I recommend? Physical gold and silver coins and bars in your own hands. For additional information, please see our Ten Commandments for Buying Gold and Silver.
• One final warning: NEVER insert a 747 Jumbo Jet up your nose.

Explanation of Terms

The US DOLLAR INDEX is the average exchange rate for the US dollar against the Euro, Yen, Pound sterling, Canadian Dollar, Swiss Franc, and Swedish Krona, weighted for each country's trade with the US. It gives a general measure of the US dollar's performance against all other currencies.

The DOW IN GOLD DOLLARS measures the Dow Jones Industrial Average in gold dollars (0.048375 troy oz. by law). The DiG$ depicts the Primary (20 year) Trend of stocks against gold. When the DiG$ is dropping, gold is gaining value against stocks in a trend that should last 15-20 years. The DiG$'s chart is identical to the Dow in ounces of gold, but gives us one unvarying measure all the way back to 1896. Because it shows the primary trend ("tide") of gold against stocks, for investors it is the single most important financial chart in the world today. Since its August 1999 high at G$925.42 (44.8 ounces), the DiG$ has trended down, targeting a G$80-G$20 (4-1 oz. of gold will buy the whole Dow).

The DOW IN SILVER OUNCES shows how many ounces of silver are needed to buy the entire Dow. The DiSoz is trending down with a target of under 36 ounces.

The GOLD/SILVER RATIO is the gold price divided by the silver price, and shows how many ounces of silver it takes to buy one ounce of gold. The Ratio shows us the Primary (20 year) Trend of gold's value against silver. When the Ratio's trend is dropping, silver is gaining value against gold. This trend targets a gold/silver ratio of 16 ounces of silver to one of gold within the next 5-10 years. That implies that silver will massively, vastly outperform gold before this bull market ends. When both metals are rallying, the ratio often (but not always) drops, confirming the rally.

Other Important Information

This is not an offer to buy or sell. Prices subject to change without notice. To enter an order, call us at (888) 218-9226 or (931) 766-6066. Sorry, no sales to Tennessee.

For complete details on how to buy from us or sell to us, please click here.