I just got written permission to post this great info/ article, from MMX, a trusted company that I have tested thru the years to help me invest and guard against what most learned Bible students KNOW and understand what MUST happen according to the Scriptures. It's true that we won't need gold and silver in Heaven, [Revelation 21:21, says that 'the streets are paved with GOLD!'] --- but it's always good to be prepared here on Earth when things are ready to explode, as the USA and other countries are ALREADY bankrupt ! ! Now... we can all piss and moan about how evil Obama and the Congress are, destroying our once great country --- or we can DO THE IMPORTANT WORK NOW of covering our butts, buy investing in PM's [Precious Metals], and I personally believe that to be a good, wise, thing. I am certainly NOT a rich man, but a retired auto worker/ welder, living on a small pension, also a Disabled Vietnam Vet, as you all know. Our stinking taxes will soon go up, up, and away !! I expect things to get worse economically, in 2K15, and I love my 'creature comforts' being an old 66 year old, disabled guy, like heat, A/C, electricity, and a nice, warm home and pretty wife. But I know that not only history, but the KJV Bible explains what MUST COME, in the book of Revelation, after many years of intense study, and prayer. I know what it's like to be poor and homeless, without any human caring for you, DESERTED BY ALL OF MY FAMILY, and all of humanity not caring weather I lived or died !! I found the Lord on a cold, Winter day, in Milwaukee, WI., after I got to the end of my rope in 1995, down on my knees in a terrible place, begging the Lord God for help in finding Him and serving Him. And then the very next day things started getting better for me, and I cleaned up my act and followed the Lord, still being a sinner, but improving day by day, still having a lot to learn. Long story....and I still carry many deep scars in my heart. But I believe that the Lord 'allowed me to sink so low and have so many problems, with finances, and ruined relationships, etc., to bring me to my knees and HUMBLE me!' I was too proud in my ways and needed to be humbled. 'God catches His fish before He cleans them...'
Well, there I go again, meandering and getting off track... lol. You know, much of my 'Prepper' thing is because of my Army training and mind set, but I like to have some pure drinking water barreled up, and rice, beans and some canned goods set aside, JUST IN CASE, the stink hits the fan. My wife thought I was just silly, but now she sees the wisdom in having something stored up, and getting our CCW permits and training didn't hurt us none, either, and now we have safe fun at the shooting range, when we want, and then go out for lunch !
Please pray for my dear wife, Terri, who is U.P. visiting her daughter and grand daughter for a few days, and I only hope that the roads are good and dry when she returns in a few days. The air temps U.P. here are -0 degrees today, and I need the 4WD fixed in my old truck.... just when I need it the most [Murphy's Law] Ha! Please pray for our Pastor and family as they are away visiting family at this time, for their safety in driving back too.
Have a great day, and a good, safe, prosperous New Year, dear friends.
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Money Metals Market Update
December 29, 2014 -- The U.S. dollar once again strengthened relative to other major world currencies last week. The DXY index closed above 90 -- its highest close in 10 years.
Precious metals prices held up well considering. A rally in spot prices on Friday closed with gold and silver prices unchanged for the week, while platinum and palladium prices advanced strongly.
The U.S. Mint reported final sales statistics for the American Eagle coins. Demand for silver continues to grow with 2014 sales coming in at 44 million ounces, eclipsing last year’s record of 42.7 million. Silver spot prices significantly underperformed gold in 2014, making the metal look like a relative bargain. Sales of American gold Eagles fell 36% from the prior year.
| Friday's Close|
| Monday Morning|
(Gain/Loss from Friday's Close)
|Gold||$1,198 (unch)||$1,189 (-0.8%)|
|Silver||$16.10 (unch)||$16.02 (-0.5%)|
|Platinum||$1,220 (+1.8%)||$1,211 (-0.7%)|
|Palladium||$820 (+1.6%)||$814 (-0.8%)|
Why You Need to Own Gold In 2015 and Beyond
Debt is a rock, and spending reform is a hard place. The taxpayers of today and tomorrow are saddled with crushing obligations. Yet we must watch helplessly as leadership in Washington DC continues expanding government -- borrowing what they can and simply printing what they cannot.
Each day more Americans sense a reckoning is coming. Our government is increasingly insolvent. The unbacked dollar is certain to be worth less, and it may not survive at all.
The problem is dishonest money. Federal Reserve officials are free to print as many dollars as they wish, completely unaccountable for the purchasing power stolen from your savings.
Also, during key periods in history, investments in gold did more than simply hold value; they produced real profits. We are likely living in the next of these periods now. Inflation is a worldwide phenomenon forcing entire populations to look for alternatives to the paper in their wallets. As more and more turn to finite gold, its purchasing power will rise -- perhaps dramatically -- as people bid more aggressively for available stocks.
We’ve seen it before. If history is a guide, now is a particularly opportune time for wise investors to buy physical gold coins and bars -- both for protection and profit. To understand why requires some background.
Gold is beautiful and rare. Our ancestors picked up the first golden nuggets thousands of years ago and found themselves delighted. Virtually everyone wanted some of their own -- a fact not lost on people seeking to trade. A person with gold to offer could bargain for all manner of valuable goods. A little of the beautiful metal went a long ways in terms of buying power. Gold became money -- the preferred medium of exchange when trading locally and across the world.
Gold Represents Timeless Value
People navigate in a world of cycles and change. Investment manias come and go. Societies move inevitably from relative peace and prosperity to crisis and war and back again. Governments rise and fall. In recent centuries these governments began introducing paper currencies in their ascendance then inflating them away in their decline. Through all of these cycles, gold remained sought after and highly valued -- making it one of history’s few constants.
An anecdote, often told, highlights gold’s relatively constant value. In 1916, just after the Federal Reserve was established and before politicians decoupled the U.S. dollar from gold, a man with a $20 bill or a $20 “Double Eagle” gold piece (containing very close to 1 ounce of gold) could walk into a men’s clothier and buy a fine suit, shirt, belt, shoes, socks, and a tie with either the bill or the coin. Today, the gold coin will still buy the same thing. But the $20 bill may not even be enough to purchase a belt.
A few generations later, bureaucrats talk about sophisticated monetary tools which supposedly render gold irrelevant. Ultimately, the talking will fail. It doesn’t change the true nature of gold, nor the true nature of the paper they want you to use as money.
Paper currency is supported only by confidence -- its value resides exclusively in people’s minds. Intrinsically, the bills we all carry are simply colored bits of paper whose supply is limitless. They are designed and managed by officials to lose value over time -- a stealthy tax benefiting politicians and those they favor, to the detriment of ordinary earners and savers. That is why governments inevitably get larger while the value of the currency they issue inexorably declines. It is the ultimate confidence game.
Paper Money Is Losing Credibility by the Day
But the essential trust in fiat currencies is beginning to fade. People look aghast at the “debt clock” in Times Square now surpassing $18 trillion. Their minds are boggled at the trillions of new dollars created by the Fed via extraordinary maneuvers such as Quantitative Easing. Today, there are real questions about the solvency of the U.S. government, and the value of the scrip issued on its behalf.
Meanwhile, gold is reasserting itself. Citizens in places like Venezuela, Holland, and Germany are clamoring for the repatriation of gold reserves stored outside of their borders. Perhaps most telling, we find the same central bankers who publicly denigrate gold quietly adding bars to the stockpiles held in their nations’ vaults... stockpiles most of them somehow never quite got around to liquidating.
Despite all this, today most Americans still do not own gold bullion. We are conditioned by Wall Street to focus on conventional assets -- stocks, bonds, money markets, and mutual funds. Less than 2% of people in the U.S. own any physical bullion according to most estimates. Even fewer hold a position significant enough to provide a meaningful defense against inflation.
Roughly 10% of the population owned gold or silver in 1980 -- the end of the last bull market in metals. Decades before that, everyone carried some in their pockets. The current cycle moved the entire world into fiat currencies and away from money backed by gold. When will this cycle reverse -- perhaps suddenly -- and gold ownership return to vogue? What will happen to the gold price when masses of cynical people tire of holding dishonest money and look for an incorruptible alternative?
Smart investors aren’t waiting to find out. Every day more people buy their first gold coins or bars. We know. We consider it our mission to popularize precious metals ownership in America. And we’ve helped literally tens of thousands buy for the first time at Money Metals Exchange. We will be happy to help you too. Give us a call at 1-800-800-1865 -- we can take your order or answer any questions you may have.
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Potential Market-Moving News This Week
New Year’s Day will shorten the trading week with no trading on Thursday and early close on Friday. The Money Metals Exchange offices will be open on both Wednesday and Friday, but closed on Thursday, New Year’s Day. As always, customers can visit MoneyMetals.com to order online 24 hours a day, 365 days per year.
The shortened holiday week ahead figures to be quiet in terms of scheduled reports for markets to digest.
- Monday, December 29th -- Dallas Fed Manufacturing Survey. The most recent reports for September and October showed declines in production. Lower crude oil prices are likely to weigh on manufacturers in this region more than most.
- Tuesday, December 30th -- Consumer Confidence. Rising stock prices and real estate prices have gone a long way toward making consumers feel better. The University of Michigan Index shows confidence back at levels not seen since 2007 -- just ahead of the last recession.
- Friday, January 2nd -- ISM Manufacturing. Manufacturing activity in the U.S. expanded for the 18th consecutive month in November. The stronger U.S. dollar may present some headwinds for manufacturing as outsourcing and importing goods becomes less costly.
This week’s Market Update was authored by
Money Metals Director Clint Siegner.
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