Sorry I've missed y'all these last two days. I had to finish my monthly Moneychanger newsletter for paid subscribers. All done now, ready to celebrate the Incarnation at Christmas.
SPECIAL OFFER: I am extending this special offer until 29 December or supplies are exhausted. these are Generic Silver Rounds, not the common Indian Head nickel imitation, and might have any sort of design like "Bon Voyage," "Happy Bar Mitzvah," "200th anniversary Founding of Tchula, Mississippi", etc. They are 0.999 fine silver and weigh one troy ounce. You can buy them for a lunatic-low premium of 46¢ over spot silver. We will take the spot silver price prevailing when you call and add 46¢. Minimum order is 120 ounces. Shipping is $25 per order, but free over 300 oz. To order, call (888) 218-9226. Thanks.
WHOA! Big heart stopper yesterday & today is the upside explosion in the 10 year T-note yield (and tanking of 30 year T-Bond price, as bond prices move opposite to yields). Take a gander, http://schrts.co/Rx75S8 The purple line is resistance back to May 2017. That red line below it is the downtrend line from the 2007 high, before the Fed decided to take interest rates to zero. What signifieth all this? The Fed has been suppressing interest rates for 35 years, and you are watching the market take control of interest rates. The strength and duration of the snap-back will be in direct proportion to the suppression before. US bond market is twice the size of the stock market, and when interest rates ("yields") rise, bond prices fall. The longer the bond has to maturity, the sharper the fall. Look at the 30 year T-bond chart here, http://schrts.co/IoR0Nw Utterly massive wealth destruction will follow as the bond-bubble blown up by the Fed bursts. THIS is a fulcrum of history.
CME Bitcoin futures fell $1,160 (6.450 to settle at $17,040. Coindesk.com shows Bitcoin at $16,168.02, down $1,440.33 or 8.2%. Money flowed out of Bitcoin into lesser cryptocurrencies. Bitcoin cash rose 54.8%.
Market proverb saith, "Cats & dogs fly last." As a bull market peaks, the blue chips stall and hot money leaves them looking for a hotter return -- call it a flight OUT of quality. Money runs from blue chips to penny stocks & drives them crazy, AT THE PEAK. Just somethin' to think about. Probably don't mean nothin'.
US dollar index fell again today, 9 basis points (0.09%), now below 93 at 92.96. Dollar is acting awfully sickly. Absolutely MUST NOT break 91, or will vanish 'neath the waves like an anvil hurled overboard.
Stocks scootched down today. Dow lost 28.1 (0.11%) to 24,726.65 and the S&P500 lost 2.22 (0.08%) to close at 2,679.25. S&P Chart is here, http://schrts.co/vtdPMb Daily the end draweth nigh.
Dow in Gold, http://schrts.co/8Sv0tc continues to roll earthward. Way to early to call a reversal yet, but it won't be long.
Comex gold rose $5.40 to $1,266.10, pushing through $1,262 resistance. Silver added 12.2¢ (0.8%) to 1618.8¢.
Gold first, http://schrts.co/H6xPWQ We are reaching that time when trading virtually stops before the holidays. All the same, gold did close barely above it 200 day moving average. Still facing the possibility of a terror spike down toward $1,220. Rapid, solid gains would nix that.
Silver's chart, http://schrts.co/o96FnV shows that it closed above its 20 DMA today. But the big story is that for both silver & gold last week's commitment of traders reports vastly improved, reducing commercial short levels to the levels at or near the July lows. Great, that's what we want for a strong bottom, lousy sentiment when all the speculators have given up and left the market. That is, the sellers have all sold.
Folks, gold and silver, especially silver, are setting up a spectacular rally.
A few days ago I asked y'all to help buying the Bibles that our church's jail ministry sends to jail and prison inmates. I am humbled by your many and generous responses. Thank you.
These are excellent and fairly expensive Study Bibles in the English Standard Version. I couldn't count the letters inmates have written thanking us for finally having a Bible they could read AND understand. These Bibles have everything needed for serious study: notes, cross references, book outlines, concordance, maps.
We don't just throw Bibles at people. When they request one, we send a letter asking them to vow to God and themselves that they will read it at least twice a day and pray when they do. To those who agree, we send a Bible. We also encourage them to form study & prayer groups of at least three inmates to change the culture there. Do they all keep the vow? Of course not, but some do, and become new men and women.
You would call these "very nice" Bibles with a leather cover -- best gift some of these folks have ever received. We bought 500 on an old edition close-out at $19, but that supply has been exhausted. We have to buy at least 500 and we'll have to pay $28 for these. We can't send the paperback because they are big, unwieldy, and fall apart.
If you have a family of five, twenty-eight bucks is about what you would pay for a meal at McDonald's. For you, it's not much, but for an inmate, many of whom have long ago alienated their families and sit destitute in prison, that Bible opens a window on a whole new universe and shows them that love is not a lie.
Every $28 you sent will buy anther Bible for an inmate, and yes, you can buy more than one. You can buy two or five or twelve or a hundred, as many as you like. We won't send back any checks because they're too big or too little.
Please make out and send your check to Christ Our Hope Reformed Episcopal Church, P.O. Box 178, Westpoint, Tennessee 38486. And thanks for patiently reading my request. Merry Christmas!
Argentum et aurum comparanda sunt —
Silver and gold must be bought.
— Franklin Sanders, The Moneychanger