Today, the big 3 shorts tried to push and manipulate Gold beneath $950, however once again, they failed. Gold hit a low of $946 before bouncing back up and closing at $953. $950 is the new base of support for Gold. The Stock Market did manage to claw it’s way back to basically even/ unchanged for the day.-Good Investing! – Jschulmansr
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Subject: Two trending markets revisited and analyzed for you
Here is a video analysis of the S&P and Gold markets. The technical analysis was right on at the time, but those markets have changed quite a bit in the last few days. The S&P had a huge rally and Gold is climbing at a steady rate, so what’s the new analysis? Glad you asked!
Below are two free videos, one on Gold and one on the S&P, that gives us an in depth technical look into these markets. Again the videos are free and very informative. Just
Click on the Links Below…
S&P Video Analysis: Gold Projections:
Also- Here’s your chance to analyze that stock you have been thinking about adding to your portfolio. Just enter the ticker of any company, name of a commodity, or forex pair and get your complimentary technical analysis. It cost you nothing and no payment info will ever be requested.
Click Here To Enter Your Symbol/s
I Decided to Make my voice heard today.
Today I decided to become involved and take action, here is the letter…
Sent to my elected officials in congress; John McCain, Harry Mitchell,
and Jon Kyle.
An Open Letter To Congress – Stop!
By: Jeffrey S. Schulman Sr.
Dear Hon. Represenatives’s John, Harry and Jon;
I have written to you many times before on various issues. Since my last communication, I am in process of becoming a District Committeeman for AZ. 5, 21. In addition I will be posting this letter and the results (actions you take), on my Blog, Dare Something Worthy Today Too! (https://jschulmansr.wordpress.com).
Why I am writing to you this time is the question, “what are we doing to the financial futures of our present country, our children, grandchildren, and even great-grandchildren?” I am gravely concerned in light of the following…
In May of last year the U.S. money supply stood at roughly $834 billion. Now, 1 year later, the Federal Reserve has created an additional $941 billion out of thin air. Pay close attention to those numbers…
· The amount of new money (FRN’s) the Fed has created is roughly $107 billion more than all the money that was in circulation just a year ago.
· In other words, the U.S. money supply has more than doubled!
Think about what this does to the value of your dollars, to your savings, to your paycheck, to your retirement income? A doubling of the money supply means your money is worth half what it was.
Of course, your money’s loss of value won’t manifest itself overnight. It will take time for the Fed’s counterfeiting to drive up prices. But those who get the new money first will be able to spend it while prices are still low, increasing their wealth at your expense.
In addition, The Fed regulates banks, influences interest rates, and determines the size of our money supply through a complex process, called Open Market Operations, that involves buying and selling securities (mostly government debt). The Fed’s policies determine the value of your money, the health of the economy, and the
rates you pay to borrow.
The Fed’s decision-making process is secret, using confidential information.
Minutes of these secret meetings aren’t due until three weeks after decisions are announced.
Transcripts of meetings don’t become available until five years later.
Aside from the Chair, Fed board members serve the longest terms of any federal bureaucrat (14 years), and they can’t be fired for political reasons.
The Comptroller General, head of the Government Accountability Office, is legally prohibited from auditing the Fed’s Open Market operations, and several other important Fed activities.
The Fed is part of the Federal Government, but acts without any of the regular checks and balances.
Next, The Fed and the federal government has made a lot of promises in our names. It has committed us to pay most of the health care expenses of the elderly (Medicare) and to provide them with a small stipend (Social Security). It has also borrowed trillions of dollars, to pay current expenses, which your children and
grandchildren will have to repay.
Unfortunately, future revenues will be insufficient to fulfill these promises.
The Government Accountability Office estimates the future shortfall in funding at $53.3 trillion. Other experts say the number is almost certainly higher. This means that every full-time worker owes a staggering $440,000+, courtesy of government excess. Eventually, that debt must be paid, either in higher taxes, or in reduced benefits. These numbers represent a looming crisis of staggering proportions.
Fortunately, there is still time to fix and reverse this crisis…
The first thing I am asking you to do is co-sponsor and support Congressman Ron Paul of Texas bill that he introduced H.R. 1207, the Federal Reserve Transparency Act.
This bill requires an audit of the Fed by 2010. Senator Bernie Sanders of Vermont has introduced the similar S.604 in the Senate. Please support and vote for these bills.
Next I am aware that the federal government has future unfunded liabilities estimated at $53 trillion. Please stop ignoring this problem. Please start reducing spending now. Balance the budget now. And start retiring the debt now so you can stop spending so much of my tax money on interest charges.
Finally and of critical importance (actually all three requests are of critical importance), In the 110th Congress, Rep. Ron Paul introduced three bills that would have brought the above benefits. He will re-introduce them this year, and they should be combined into ONE simple bill. The benefits in addition to stopping or at least
curbing inflation are these:
Ending inflation would cause your money to buy more and more as the economy grows, instead of less and less, as it does today. Stopping inflation would also end bubbles and booms, and the recessions they cause.
The three bills which should be combined into one simple bill are
these:
The 15-word “Honest Money Act” would repeal the 41-word legal
tender law, which gives the Federal Reserve a monopoly over the money supply.
The 104-word “Free Competition in Currency Act” would repeal the
69 words of Title 18 Section 489 of the U.S. Code, which gives the
United States government a monopoly over the creation of coins for use as currency.
The 193-word “Tax-Free Gold Act” would prohibit federal and state
taxes on precious metal coins and bullion.
The explanation on why we should repeal the Fed’s legal tender
and coinage monopoly is this:
Every paper dollar you own carries the words “Federal Reserve Note” (FRN). This means they were issued by the Federal Reserve System (the Fed), a national bank created by Congress. The legal tender law gives the Fed monopoly control over what you use for money.
When a currency is legal tender you are legally compelled to accept
it in payment for debts, even if you’ve made a contract to be paid in
some other currency or commodity, such as gold. Abolishing taxes on precious metal coins and bullion, and repealing both the legal tender law and the federal coin monopoly, would free you to use other currencies, gold, silver, or all of them at the same time,
including FRNs.
If this seems like a strange new world to you, please realize that
you already live in this world to a certain extent.
When you check-out at a store you can already pay using cash, check, debit card, or credit card, and you probably also have different accounts you use for various purposes. Repealing the legal tender monopoly would simply give you more choices.
Choice is good because it allows competition. Monopoly is bad because it leads to price-fixing. And monopoly control over what you may use as money provides the greatest price-fixing power of all. It impacts ALL of your economic transactions. The Fed can manipulate the price of everything by increasing the number of circulating
dollars (inflation), or by decreasing that number (deflation).
You already know what it means when counterfeiters inflate the money supply. They use their fake money to get something for nothing, taking wealth from others without creating any wealth of their own. It’s a form of stealing. But the long-term consequences of counterfeiting are even worse than the initial theft.
If the counterfeit dollars were allowed to stay in the economy, instead of gradually being removed from circulation, the result would be an ever-growing inflation of the money supply. This inflation would trick businesses into making a disastrous mistake.
Thus, if you were a widget maker you would see an increased demand for your widgets because of the extra dollars pumped into the economy by the counterfeiters. A sense of increased demand and increased wealth would be the “bubble,” or “boom,” that always follows an inflation of the money supply.
Your widgets would start to fly off the shelves faster than you could make them. You would have to increase prices to maintain inventories and invest in new production to meet the increased demand. But this increased demand would be an illusion,
because . . .
Everyone else would raise their prices too. And they’d increase them for the same reasons you did. Rising prices would remove the perception of increased wealth and soak up the extra spending power created by the counterfeit dollars. This would cause the demand for your widgets to shrink back to its old level, but with a wicked twist . . .
The increased inventories and expanded production capacity you created in response to the inflationary boom would turn out not to be needed. Your widgets would start to gather dust on the shelf and you would have trouble paying your bills.
The result?
You would lay-off recently hired employees and close your recently expanded production facilities.
First came the inflationary boom, or bubble, and then the bust, or recession.
Extra FRNs created by the Fed work exactly the same as extra FRNs created by counterfeiters. They allow those who get the dollars first to get something for nothing, followed by a boom, and then a bust.
The Fed has numerous ways to create new FRNs out of thin air. Economists cloud these methods in complicated jargon, and the talking heads on TV make it all sound perfectly normal and even necessary, but the result is exactly the same as with illegal
counterfeiting.
Given the above explanation it should come as no surprise that the greatest boom and bust in American history happened immediately following the Fed’s birth in 1913. Fed inflation put the inflationary “roar” in the “Roaring Twenties” followed by the biggest bust ever, the Great Depression.
Past inflations, booms, and busts were created through essentially the same process, including the recent stock market and housing bubbles. The Fed is simply the government’s latest-and-greatest tool for legalized counterfeiting.
Imagine what would happen if FRNs had to compete with gold, a form of money that can’t be significantly inflated or deflated because of its scarcity and durability. . .
People would begin to have gold accounts that they would use to buy and sell. The ownership of the gold would be transferred back and forth using checks, debit cards, paper certificates (currency), and a few coins, just like with FRNs.
When you went shopping you might start to see two prices, one in FRNs and one in a certain weight of gold. If the Fed inflated the number of FRNs you would see the FRN prices rise while the gold price would stay roughly the same.
You would begin to prefer to pay the gold price, so you would want to be paid in gold too.
How could the Fed stop the flight to gold? Only one way, Stop inflating the number of FRNs (printing more new U.S. Dollars).
Congressman Paul has hit upon the easiest way to end inflation, and the booms and busts that follow in its wake. Simply repeal the legal tender monopoly enjoyed by FRNs, and the coinage monopoly held by the United States government. Stop taxing exchanges in commodity metals. Allow monetary competition. This would help end inflation.
But that’s not all . . .
Forcing FRNs ( the U.S. Dollar) to compete with gold would also confer one other benefit. Over time the prices you pay will tend to fall as increases in economic efficiency (for example, technological improvements) lower the cost of production and increase the supply of goods and services. A stable money supply tends to become more
valuable over time, unlike an inflationary currency that constantly loses value.
Once again I am asking you to Audit the Fed and support HR 1207, S.604. Next, reduce spending now! Balance the budget and start retiring U.S. Debt. Stop the manipulation of Gold and Silver Prices. Finally, Please sponsor and support “The Honest Money Act”, “The Free Competition in Currency Act”, and the “Tax-Free Gold Act”.
We will remember your choices and actions, and your votes with our votes in the next elections.
Sincerely,
Jeffrey S. Schulman Sr.
My Note: Please Join me!, write your elected represenatives and ask them to support all of the measures listed in my letter.- jschulmansr
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Nothing in today’s post should be considered as an offer to buy or sell any securities
or other investments; it is presented for informational purposes only. As a good investor,
consult your Investment Advisor/s, Do Your Due Diligence, Read All Prospectus/s and
related information carefully before you make any investing decisions and/or investments.
– jschulmansr
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