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Endeavour Silver Corp. Message Board

  • quailrunrd quailrunrd Oct 1, 2013 3:58 PM Flag

    Did the Federal Reserve get more religion this year?

    Did the Fed get more religion? After all, they are publishing another trillion pieces of paper announcing, "In God We Trust". That makes over 3.2 trillion announcements in the last 5 years. But I understand our president would prefer they change their announcement to, "In either God or Allah We Trust".

    So many pieces of currency backed by the "full faith and credit" of a government now closing down. Do words on paper like "God, Trust, Faith, and Credit" give one the same sense of security as holding an ounce of gold or silver in your hand? Does an impending debt ceiling cause no concern whatsoever?

    Today's attack on silver and gold prices still makes absolutely no sense to me. Can it really be some sort of "manipulation" of the PM "paper" or "futures" markets? Can it be main stream media efforts to trash talk the metals causing investors to abandon their PM investments. I really don't know. And I don't know how much longer the masses will be satisfied carrying fiat currencies in their wallets as "legal tender for all debts public and private". Perhaps it can go on for much longer than anyone can now imagine. I, for one, used to be convinced our currency would suffer major jolts to it's credibility by the end of this year. Now I wonder how much longer the Fed's "religion" can trump fundamentals. So I wait....still feeling relatively secure with some physical metals, EXK, and some other PM stocks....even though my wife now thinks I'm an idiot for doing so. But, can I blame her after reviewing PM price action during THE LAST 2 YEARS?

    Visibly shaken but still hanging tough for now. GLTA

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    • "WASHINGTON (Reuters) - The U.S. Treasury on Tuesday started using its last tools for pushing back the date when the government will run out of legal borrowing authority, Treasury Secretary Jack Lew said.

      In a letter to lawmakers, Lew said the Treasury Department was suspending some reinvestments of a government currency exchange fund and would also enter into a debt swap with the Federal Financing Bank and the Civil Service Retirement and Disability Fund.

      He repeated past statements that these measures would allow it to continue below its $16.7 trillion limit for a little while longer, but that by October 17 the government will have exhausted its borrowing authority and will be left with about $30 billion in cash to pay the nation's bills.

      "If we have insufficient cash on hand, it would be impossible for the United States of America to meet all its obligations," Lew said in a letter to lawmakers. "For this reason, I respectfully urge Congress to act immediately to meet its responsibility by extending the nation's borrowing authority."

      After borrowing authority expires, Treasury by law would then have to rely on its remaining cash and incoming revenue to pay the country's obligations."

      Not any problem that i can see!!!!!!

    • The analysts estimates havegone from-.07 to -.05 in the last 30 days. in 30 days they will report -.06 and exk will crater. Oh I just woke from my nightmare.

5.04+0.17(+3.49%)Sep 15 4:03 PMEDT

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