Wednesday, April 19, 2006

GOLD SILVER BUY UP

Well now people are starting to horde silver and gold like the Bible says would happen in the last days. But as we read in the scriptures the Gold and silver will become worthless in the future. It will not save people while the judgements from God are happenning on the whole Earth.

EZEKIEL 7:3-19
3 Now is the end come upon thee, and I will send mine anger upon thee, and will judge thee according to thy ways, and will recompense upon thee all thine abominations.
4 And mine eye shall not spare thee, neither will I have pity: but I will recompense thy ways upon thee, and thine abominations shall be in the midst of thee: and ye shall know that I am the LORD.
5 Thus saith the Lord GOD; An evil, an only evil, behold, is come.
6 An end is come, the end is come: it watcheth for thee; behold, it is come.
7 The morning is come unto thee, O thou that dwellest in the land: the time is come, the day of trouble is near, and not the sounding again of the mountains.
8 Now will I shortly pour out my fury upon thee, and accomplish mine anger upon thee: and I will judge thee according to thy ways, and will recompense thee for all thine abominations.
9 And mine eye shall not spare, neither will I have pity: I will recompense thee according to thy ways and thine abominations that are in the midst of thee; and ye shall know that I am the LORD that smiteth.
10 Behold the day, behold, it is come: the morning is gone forth; the rod hath blossomed, pride hath budded.
11 Violence is risen up into a rod of wickedness: none of them shall remain, nor of their multitude, nor of any of theirs: neither shall there be wailing for them.
12 The time is come, the day draweth near: let not the buyer rejoice, nor the seller mourn: for wrath is upon all the multitude thereof.
13 For the seller shall not return to that which is sold, although they were yet alive: for the vision is touching the whole multitude thereof, which shall not return; neither shall any strengthen himself in the iniquity of his life.
14 They have blown the trumpet, even to make all ready; but none goeth to the battle: for my wrath is upon all the multitude thereof.
15 The sword is without, and the pestilence and the famine within: he that is in the field shall die with the sword; and he that is in the city, famine and pestilence shall devour him.
16 But they that escape of them shall escape, and shall be on the mountains like doves of the valleys, all of them mourning, every one for his iniquity.
17 All hands shall be feeble, and all knees shall be weak as water.
18 They shall also gird themselves with sackcloth, and horror shall cover them; and shame shall be upon all faces, and baldness upon all their heads.
19 They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.

JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.

It's a gold rushTAVIA GRANT
From Wednesday's Globe and Mail


Don Carlson has worked at Albern Coins & Foreign Exchange Ltd. in Calgary for more than a decade and, with the small exception of some pre-millennium panic buying, he's never seen so many customers carting off silver bars and gold coins. I've been in the business since 1991 and these are new highs for me, for both metals,” the general manager says. He's not the only one surprised by the growing appetite. In Ottawa, silver demand at the Royal Canadian Mint tripled in the first quarter. Kitco.com, a global gold dealer based in Montreal, has hired 10 new salespeople to take calls, while another distributor, based in B.C., is busy shipping coins across the country.

Rising geopolitical tensions and record oil prices are boosting the allure of precious metals, sending gold to its highest level since 1980 and silver to a 23-year high Tuesday. But it's not just exchange-traded funds or mining company shares that are popular. Canadians — and investors around the world — want the real, physical stuff. In Calgary, Mr. Carlson is seeing huge interest from middle-aged and older people who have cash on hand and want to park it in gold and silver. We're seeing a lot of new faces,” he said. “It's basically cash-and-carry. People like to have it in their hands.

Like other dealers, Mr. Carlson says silver demand is particularly strong. Sales of 100-ounce silver bars are surging and, at $1,692 a pop, many customers are buying several bars at a time. Clearly, silver prices that have already surged 58 per cent this year aren't deterring clients. Coins are also selling at a steady clip, he said. While Albertans may be the biggest buyers of gold and silver these days, interest is growing across the country. At the 98-year-old Royal Canadian Mint, investment demand for silver Maple Leaf coins more than tripled in the first quarter
while demand for one-to-10-ounce gold bars doubled, said David Madge, the Mint's executive director of bullion and refinery services. He expects silver sales this year will be the best in a decade.

You know commodities are hot when people are pawning their old gold and silver trinkets to the Mint. The Mint's recycling business, which buys old jewellery or silver flatware from individuals and turns them into coins and bars, has soared in recent months in lockstep with the run on commodities prices. Thus buyers of Canadian gold coins can't be certain whether they're derived from Aunt Bessie's wedding ring or come fresh from the mines. Kitco.com, the world's largest Internet-based bullion dealer, knows this better than most. It added about 10 salespeople to its
desk earlier this year to field floods of incoming calls.

Investor interest has soared for several reasons, said Jon Nadler, Kitco.com's investment products analyst. Demand in China and India is growing, while supply is dwindling. Worries about a decline in the U.S. dollar are mounting. Energy prices are soaring and tensions in Israel and Iran are rising. Those factors are prompting more people to see gold as a hedge in their portfolio, he said. It's very, very strong and across the board, and not just in Canada,” he said. “People are feeling more comfortable with holding gold than they had before.

In B.C., Martin Levy is managing director of the country's largest direct distributor of Maple Leaf coins. His company, Border Gold Corp., is seeing everyone from plumbers to bankers adding precious metals to their holdings. People in the trades, who have their own small companies, you see them buying and putting 5 to 10 per cent of their portfolio in gold,” he said. At the same time, “a lot of business people, with higher income, are putting high hundreds of thousands or even a million or two million into gold.

Gold prices soared $4.50 (U.S.) to reach a 25-year high Tuesday, closing at $623.30 an ounce, while silver jumped to $13.78 an ounce.

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