"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat
Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput
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XAU trying to hold support
This sure looks like it wants to go to 172, Dan.
ReplyDeleteI hope not!
172? I meant 167.
ReplyDeleteTurd;
ReplyDeleteIf is looking heavy here but is hanging on by a thread. I think that if it closes down below 188 or so, it will move towards that 170-167 level. That also closely corresponds with the objective from the double top pattern. Might be a long summer for the mining shares. If the Fed comes in with some sort of monetary stimulus, these things will reverse course immediately and move higher but no one is sure of the Fed's next move.
Thanks Dan.
ReplyDeleteI saw a great term online for these stupid freaking gold shares... The Gold Stocks Gulag! We're in it for sure! This has been bad enough. I hope the part where Bubba comes in is left out of this movie! Some are saying these stupid shares are just going to collapse. These shares are really a joke.
ReplyDeleteIt's looking pretty bleak right now for the gold shares, but one thing is certain, Bernanke is an inflationist. There will be more stimulous / quantitative easing at some point in the near future. This quantitative easing is like a drug, once the economy got the first hit, it needed a second, and wants a third, a fourth, all the way to infinity! When this happens, gold and gold shares will soar. Many people will also suffer in the long run. I am very sad to see our country in this condition.
ReplyDeleteI can't seem to understand why the management of the miners don't try and do something to combat this negative trend in their share value. Isn't ultimately in the best of their interests to have stable or rising share prices. I like Jim Sinclair's idea of issuing a gold or silver coin as a special dividend to shareholders. I realize not all of the miners could do this at the present time but certainly most of the producers could. This would make it complicated for the shorts and ratio trade boyz. Dan, I would appreciate your comment on this.TIA
ReplyDelete