Market trading right around even this morning. I'm again watching for some entry into some short positions. My indicators are still neutral in the short term, so I will be patient and let the trade come to me. Some stocks that look good for a short sell are ARO, SGR, and SYMC. Maybe today we will get some action towards the close. I'll leave you with a quote two things. First a look at article I of the Constitution where it clearly states that nothing but gold or silver shall ever be used as money in this country. Then a quote from Senetor Daniel Webster to the senate in 1833 when the nation was voting to disband its 2nd central bank (which it did).
According to the Constitution money is gold and silver coin, not Federal Reserve Notes of debt-obligation. Silver is the standard by which the dollar is defined – the unit of account of the United States.
- Article I, Section 8, Clause 5: The Congress shall have Power…To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.
- Article I, Section 10, Clause 1: No State shall…coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debt.
As the Constitution states, Congress is empowered to coin money out of gold and silver, not to emit bills of credit (paper money). Nothing can be more simply said, yet that is not the form of money we have today.
“We are in danger of being overwhelmed with irredeemable paper, mere paper, representing neither gold nor silver; no sir, representing nothing but broken promises, bad faith, bankrupt corporations, cheated creditors and a ruined people.”-
Daniel WebsterEnjoy!
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