The Moneychanger
Daily Commentary
Tuesday, 8 November a.d. 2016 Browse the commentary archive

I am writing this at 2:50 Central time, before stock & currency markets close but after silver & gold have closed. Prices are below.

No point in talking about markets before the election results are in, but I want to put a bug in the ear to urge y'all to think holistically or systemically.

Loads of operatives in the politics industry -- Americans turn everything into an industry -- want you to believe that changing this or that little element in the system -- even changing the president or passing some amendment -- will change things.

Nothing could be further from the truth. This is whole-blindness, staring at the parts instead of the whole and fatuously wishing that changing some part will correct the whole.

With the yankee government, we are dealing with a SYSTEM. The whole system works together, and changing a president changes nothing. As proof, look at the last 36 years. Reagan changed things? Hardly. Biggest spender in US history until that time. Same holds for all his rotten successors, & most of his 20th century predecessors.

You are dealing with a SYSTEM, where over 50% of income comes from government spending, about 3/5 of that from federal spending, and about 2/5 from state & local government spending. Read that again, & draw the obvious inference: there is NO US economy, there is a one-legged economy that cannot stand without government spending.

So am I against incremental improvements & change? Not at all, but they are bootless, worthless, & feckless unless they aim at changing a SYSTEM which stands strong because like so many piglets half of everybody is sucking on the government teat. I'm not talking welfare, either, but defense spending & subsidies, which dwarf welfare spending. Every farmer who receives subsidies, only about 20% of farmers, in fact, will fight like an enraged mother banshee to keep that subsidy. More, the banks long ago seized control of Washington, so no politician will cross them by reforming them. No politician will stop NAFTA, GAFTA, or BLAFTA shipping US jobs overseas because the corporations who profit from slave labor own the politicians.

The entire system is ordered to profit a few at the many's expense.

Technically the system is FASCISM or national socialism or corporativism. Its strength is in the number of piglets at the teat. It began in this country in 1865 and grew to maturity during the New Deal. Since then it has metastasized into every crevice of privacy and life. To continue the metaphor, the System is the cancer, and the cancer must be killed or it will kill the body.

Most of all, the SYSTEM kills freedom, because human freedom is its most lethal enemy. Government claims to be god, and so like god, it must know and control everything. Freedom cannot coexist with the fascist state, nor can privacy.

I am not against incremental change, or even political activity, but you must view it holistically and systemically. Unless your activity works to change or eliminate the system, it only wastes your time & feeds the System's political industry. Far better to spend your efforts at the state & local level, removing taxes and regulations and restoring freedom in your own community. You have more leverage there than anywhere, and certainly more than at the national level.

Bear in mind: It is a System that troubles you, not a president, not a judge, not a constitutional amendment, not one law, but an entire System that oppresses you.

So take heart: whichever vile teenager wins today, you still have plenty of work to keep you busy dismantling their SYSTEM. Never let them make you think you "are the only one who thinks like you do" or that there is no hope. Brick by brick they built it, and brick by brick we can, and will, take it down.

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

— Franklin Sanders, The Moneychanger

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Market Snapshot See more charts and market data
8-Nov-16 Price Change % Change
Gold, $/oz 1,273.40 -4.50 -0.35%
Silver, $/oz 18.33 0.21 1.14%
Gold/Silver Ratio 69.471 -1.038 -1.47%
Silver/Gold Ratio 0.0144 0.0002 1.49%
Platinum 1,005.80 7.20 0.72%
Palladium 664.95 9.10 1.39%
S&P 500 2,143.34 0.00 0.00%
Dow 18,355.10 95.50 0.52%
Dow in GOLD $s 297.97 2.59 0.88%
Dow in GOLD oz 14.41 0.13 0.88%
Dow in SILVER oz 1,001.37 -6.11 -0.61%
US Dollar Index 97.92 0.13 0.13%
IMPORTANT NOTE: The following are wholesale, not retail, prices. To figure our retail selling price, multiply the "ask" price by 1.035. To figure our retail buying price, multiple the "bid" price by 0.97. Lower commissions apply to larger orders, higher commissions to very small orders.
SPOT GOLD: 1,276.10      
GOLD Fine Tr.Oz. BID ASK $/oz
American Eagle 1.00 1,314.38 1,318.85 1,318.85
1/2 AE 0.50 650.30 673.14 1,346.29
1/4 AE 0.25 328.34 342.95 1,371.81
1/10 AE 0.10 133.89 139.73 1,397.33
Aust. 100 corona 0.98 1,244.58 1,253.58 1,278.90
British sovereign 0.24 302.65 315.65 1,340.90
French 20 franc 0.19 235.87 239.87 1,284.76
Krugerrand 1.00 1,292.69 1,302.69 1,302.69
Maple Leaf 1.00 1,286.10 1,300.10 1,300.10
1/2 Maple Leaf 0.50 733.76 669.95 1,339.91
1/4 Maple Leaf 0.25 325.41 341.36 1,365.43
1/10 Maple Leaf 0.10 135.27 139.09 1,390.95
Mexican 50 peso 1.21 1,530.77 1,541.77 1,278.74
.9999 bar 1.00 1,280.57 1,288.10 1,288.10
SPOT SILVER: 18.31      
SILVER Fine Tr.Oz. BID ASK $/oz
VG+ Morgan $B4 1905 0.77 25.00 27.00 35.29
VG+ Peace dollar 0.77 20.00 22.00 28.76
90% silver coin bags 0.72 13,588.58 13,874.58 19.41
US 40% silver 1/2s 0.30 5,208.23 5,358.23 18.16
100 oz .999 bar 100.00 1,810.50 1,845.50 18.46
10 oz .999 bar 10.00 184.55 189.55 18.96
1 oz .999 round 1.00 18.11 18.61 18.61
Am Eagle, 200 oz Min 1.00 19.81 21.31 21.31
SPOT PLATINUM: 1,005.80      
Plat. Platypus 1.00 1,020.80 1,050.80 1,050.80
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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.

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