The Moneychanger
Daily Commentary
Wednesday, 1 March a.d. 2017 Browse the commentary archive

Trump spoke to Congress last night and among the blizzard of fluff & promises was spending $1 trillion for infrastructure. One's mind searches from pillar to post, seeking a picture of this. Will he build bike paths along the Interstates? Quadri-sex bathroom stops? He offered no details on his oft-promised & richly ballyhooed tax reform or on trade, either

Give the man credit for unmitigated gall: he is pushing Blarney to regions of outer space where no politician hath yet set a toe.

Yea, and the Blarney stood him in good stead on Wall Street, where the Dow today beat 21,000 -- only twenty-four days after it had crossed 20,000.

That ring a bell in y'all's noggins? A market increasing at an increasing rate is a market gone hyperbolic and soon to cough, sputter, & collapse, having exhausted all its Blarney-fuel. Sometimes success is its own punishment.

And Trump called for financing the infrastructure boondoggle by "public & private capital," a.k.a., "public-private partnership." Technically -- now all you Trumpites out there don't get mad at me, this is merely the technical definition -- a public-private partnership is "fascism," but it's nothing new. It's already the American way where the banks rule Washington & Washington rules us.

Yea, Buddy! We know how successful them public-private partnerships are! Think on the public-private mortgage creation motors, Fannie Mae & Freddie Mack. Both belly-upped in 2008, but not before they had glutted the mortgage market with zillions in soggy, sorry, worthless mortgages. Been under federal government receivership ever since.

Or what about another public-private partnership success, the Federal Reserve System? Now in fact it ain't federal, and it hath no reserve, and there ain't even much system about it. But like putting lipstick on a sow, they gussied it up in 1913 with a Board of Governors that the president appoints. The bank itself and the regional banks are privately owned by -- the banks. Now there's a set-up immune to conflict of interest, by golly!

Anyhow, since 1913 the Fed and its banking cartel have been lapping, sucking, and slurping the blood out of the American economy wholesale. Another public-private partnership success!

So far Trump has done nothing but wave the same old failed nostrums at the economy. Nothing new proposed, and certainly no measure that would go to the heart of economic & political problems, like restoring gold & silver money, abolishing the Federal Reserve, prosecuting criminal Big Banks & their officers, or restoring the rule of law generally. Mercy, he isn't even talking about stopping the "perpetual war for perpetual peace" keystone of the US economy, but is proposing MORE "defense" spending.

Folks, I ain't no more'n a nat'ral born durn fool from Tennessee, and when somebody, even some big somebody, walks down the street buck naked claiming he has on dazzling clothes only the virtuous can see, I ain't got a speck more sense than to blurt out, "He's stark, staring, buck naked!" STOCKS: Y'all don't' get bent ut of shape. I was exepcting one more stock leg up.

A couple of decades ago I though humanity had reached a lasting new low in crass when an Atlanta funeral home installed a big window for drive-by visitation. I always underestimate how low humanity can really reach. On Ash Wednesday (today) a church in Murfreesboro is offering drive-by imposition of ashes. Just pull up to the curb and a minister/carhop will draw a cross with ashes on every forehead in the car. ('Tain't known whether the minister/carhop is wearing rollerblades.) This is called "repentance on the fly," when you really WANT to repent, but just can't fit God, meditation, prayer, or repentance into your schedule. So you get the next best thing, a black cross on your forehead to dazzle your friends with repentance-envy over your deep spirituality.

Words fail me.

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

— Franklin Sanders, The Moneychanger

Your source for gold and silver. Read our latest reviews and testimonials.
Market Snapshot See more charts and market data
28-Feb-17 Price Change % Change
Gold, $/oz 1,252.60 -4.80 -0.38%
Silver, $/oz 18.42 0.07 0.36%
Gold/Silver Ratio 68.002 -0.506 -0.74%
Silver/Gold Ratio 0.0147 0.0001 0.74%
Platinum 1,029.50 -7.90 -0.76%
Palladium 770.70 -13.35 -1.70%
S&P 500 2,363.64 -6.11 -0.26%
Dow 20,812.24 -25.20 -0.12%
Dow in GOLD $s 343.47 0.90 0.26%
Dow in GOLD oz 16.62 0.04 0.26%
Dow in SILVER oz 1,129.87 -5.44 -0.48%
US Dollar Index 101.13 0.00 0.00%
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SPOT GOLD: 1,247.50      
GOLD Fine Tr.Oz. BID ASK $/oz
American Eagle 1.00 1,278.69 1,288.04 1,288.04
1/2 AE 0.50 641.95 656.81 1,313.62
1/4 AE 0.25 327.21 335.27 1,341.06
1/10 AE 0.10 130.88 136.60 1,366.01
Aust. 100 corona 0.98 1,213.63 1,222.63 1,247.33
British sovereign 0.24 295.86 308.86 1,312.08
French 20 franc 0.19 232.91 238.91 1,279.64
Krugerrand 1.00 1,259.98 1,269.98 1,269.98
Maple Leaf 1.00 1,257.50 1,270.50 1,270.50
1/2 Maple Leaf 0.50 717.31 654.94 1,309.88
1/4 Maple Leaf 0.25 318.11 333.71 1,334.83
1/10 Maple Leaf 0.10 132.24 135.98 1,359.78
Mexican 50 peso 1.21 1,490.45 1,501.45 1,245.29
.9999 bar 1.00 1,247.50 1,259.50 1,259.50
SPOT SILVER: 18.31      
SILVER Fine Tr.Oz. BID ASK $/oz
VG+ Morgan $B4 1905 0.77 22.50 26.00 33.99
VG+ Peace dollar 0.77 16.00 18.00 23.53
90% silver coin bags 0.72 12,769.90 13,127.40 18.36
US 40% silver 1/2s 0.30 5,209.70 5,359.70 18.17
100 oz .999 bar 100.00 1,821.00 1,846.00 18.46
10 oz .999 bar 10.00 184.60 189.60 18.96
1 oz .999 round 1.00 18.56 18.86 18.86
Am Eagle, 200 oz Min 1.00 19.31 20.56 20.56
SPOT PLATINUM: 1,029.50      
PLATINUM Fine Tr.Oz. BID ASK $/oz
Plat. Platypus 1.00 1,024.50 1,069.50 1,069.50
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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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