Today was a pretty slow day, as one of the top headlines read, "Fort Smith (Arkansas) Receives Nearly $5 Million Grant." Clearly, the yankee government is still at work subsidizing the airlines & airport construction companies, so y'all can wipe that worried look off your faces. The business-government partnership ("fascism") is alive and well in America.
Stocks likely made a short term (1-2 week) bottom last week but have another leg down coming. Dow today rose 16.05 (0.1%) to 16,569.98. S&P500 climbed 5.33 (0.28%) to 1,936.92. Dow could rally to 16,740, but the decline is not yet complete.
Dow in gold added 0.1% to 12.64 oz (G$261.29 gold dollars). DiG has clearly defined and confirmed that its upward correction has ended by closing below its last low and its 200 DMA. Friday it nearly fell through the critical uptrend from August 2011, today at 12.42 oz (G$256.75).
Dow in silver is lagging its big brother, winding up in a triangle that ought to break downward. Today it moved 0.8% lower to 824.58 oz (S$1,066.12 silver dollars). Short term uptrend line today stands at 820 oz (S$1,060.20).
Be patient. The Dow in Gold and Dow in Silver are rolling over. Time to begin swapping stocks for silver & gold.
US dollar index crept up 6 basis points to 81.51. Currencies are doing nothing, as the US dollar Index is stuck oscillating around that 80.50 line that ought to have marked a breakout, but didn't. Stuck: can't move up, can't move down, but more dollar rally lies ahead.
Euro flaked another 0.17% to $1.3383, still gravely ill. Yen gave up pretensions to health today, closing down 0.15% at 97.86 & below its 200 DMA. May be preparing another BIG fall.
Silver & gold argued today, and couldn't agree. Silver finally broke through 2000c and jumped 15.8 cents (0.8%) to 2006c on Comex. Gold backed off 40 cents to $1,308.50. This is the world's most miserable market: sideways. No progress.
Gold butted its head against that downtrend line form October 2012, but couldn't batter its way through. Think that's weak? Well, remember that uptrend from December 2013 has not been broken, and despite two attempts $1,281 held. And gold stands above its 200, 50, & 20 dmas, all aligned in that upward looking order. Gold needs to jump over $1,320 to break out of these August doldrums.
Silver keeps on sliding along the downtrend line from the August 2013 high. So far the 1975c low has held, but silver is below its moving averages & is presently the sick sister of the precious metals. Indicators have not yet turned up.
Be calm, be patient. Higher prices are coming in August.
On 11 August 1492 in one of the worst elections in history Rodrigo Borgia was elected Pope Alexander VI. As a cardinal he was famous for saying, "God is not willing that a man should die, but pay and live" referring to the bribes he fondly received.
On 11 August 1860 America's first successful silver mill began operating in Virginia City, Nevada.
On 11 August 1908 Great Britain's King Edward VII meets with Kaiser Wilhelm II to protest the growth of the Kaiser's beard. Whoops, just kidding. It was the growth of the German navy.
My friend Daniel Freemon has made an amazing recovery. They took him off the Ventilator on Saturday and Sunday moved him to an ICU Step Down room. He is talking and his mind has returned. I thank y'all most heartily for your prayers. SPECIAL OFFER
I bought some coins at the right price & crazy as I am, I am passing the saving on to you. 'Tis your lucky day!
British sovereigns (minted 1818-today) are one of the world's most common gold coins, thanks to the British empire. They are 22 karat (91-2/3% pure) and contain 0.2354 troy ounce of fine (pure) gold. Dates of our choice, some coins may show wear since they actually circulated.
The U.S. in the 1980s and 1990s issued a passel of different $5 gold (0.2419 troy ounces) and $10 gold (0.4838 tr. Oz.) commemorative coins. All are uncirculated coins, dates of our choice. Minted at 90% fine (21.6 karat).
In 1979 Canada introduced the Maple Leaf gold coin as the first 24 karat "pure gold" bullion coin. At first they were issued at 99.9% fine, but then late in 1982 they began issuing them in 99.99% fineness. These coins are the later issue at 99.99% & of course uncirculated.
All prices are based on spot gold at $1,308.5 & spot silver at $20.06. OFFER NO. 1
Nineteen lots of EIGHT (8) each British sovereign gold coins. at $324.50 each for a total of $2,596.00 plus $35 shipping for a grand total of $2,631.00. That's a premium of 5.35% over melt value. One lot totals 1.8832 troy oz. fine gold
NOTE: I will charge shipping only once per order no matter how many lots you buy. OFFER NO. 2
Fourteen lots of FOUR (4) each US commemorative gold $5 coins at $335.00 each & TWO (2) ea. US $10 commems at $670 ea. for a grand total of $2,680.00, plus $35 shipping for a grand total of $2,715.00. Price is a 5.85% premium over melt value. One lot contains 1.935 troy ounces fine gold. OFFER NO. 3
TWO Lots of Nine (9) each Canadian Maple Leaf gold coins at $1,374 each for a total of $12,366 plus $35 shipping for a grand total of $12401.00. Price carries a 5.01% premium over melt value. Each lot contains 10 oz. fine gold.
NOTE: I will charge shipping only once per order no matter how many lots you buy.
First come, first served, and no re-orders at these prices. I will write orders based on the time I receive your e-mail. Send email to email@example.com
Sorry, we will not take orders for less than the minimum shown above.
All sales on a strict "no-nag" basis. We will ship as soon as your check clears, but we allow Two weeks (14 days) for your check to clear. Calls looking for your order two days after we receive your check will be politely and patiently rebuffed.
It increases your chances of getting your order filled if you offer me a second choice, e.g., "I want to order Three lots of Offer #3 but if not available will take One lot of Offer #2." ORDERING INSTRUCTIONS:
1. You may order by e-mail only to firstname.lastname@example.org. No phone orders, please. Please do NOT order by replying to THIS email, because it will not reach me timely.
Please include your name, shipping address, & phone number in your email. Surprising as it is, we cannot ship to you without your address. Sorry, we cannot ship outside the United States or to Tennessee.
Repeat, you must include your complete name, address, and phone number. We will read your mind, but will have to charge you three times the price. Cheaper if you just supply your information so I don't have to read your mind.
2. When you buy from us, we cannot later change or cancel the trade. We are giving you our word that we will sell at that price, & you are giving us your word that you will buy at that price, regardless what later happens in the market, up or down.
If you break your word to us, we will never again do business with you.
3. Orders are on a first-come, first-served basis until supply is exhausted.
4. "First come, first-served" means that we will enter the orders in the order that we receive them by e-mail.
5. If your order is filled, we will e-mail you a confirmation. If you do not receive a confirmation, your order was not filled.
6. You will need to send payment by personal check or bank wire (either one is fine) within 48 hours. It just needs to be in the mail, not in our hands, in 48 hours.
7. "No Nag Basis" means that we allow fourteen (14) days for personal checks to clear before we ship.
Want your order faster? Send a bank wire, but that's not required. Once we ship, the post office takes four to fourteen days to get the registered mail package to you. All in all, you'll see your order in about one month if you send a check.
Argentum et aurum comparanda sunt —
Silver and gold must be bought.
— Franklin Sanders, The Moneychanger