"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


Monday, December 31, 2012

Happy New Year to my Readers

May the New Year of 2013 be a Happy, Healthy, Safe and Prosperous one for you all. Thank you for your interest in the blog this past year. For those who took some time out to write words of encouragement or thanks, I appreciate you!

Only the Lord knows what will come our way in this next year but one thing promises to be certain in regards to the markets - more volatility, more uncertainty, more wild price swings and more Central Bank interference.

Comex Gold Closes UP 6.9% for the Year

Comex gold had a nice day to finish out the year as it moved sharply higher around mid morning and pushed right into strong resistance at $1680 on the price chart.

The move enabled gold to put in yet another good performance on a yearly basis as it added 6.9% in 2012.

Gold in Yen terms was the best performer among the major currencies as the Yen lost over 20% of its value against gold.