"Totalitarianism, however, does not so much promise an age of faith as an age of schizophrenia. A society becomes totalitarian when its structure becomes flagrantly artificial: that is, when its ruling class has lost its function but succeeds in clinging to power by force or fraud. Such a society, no matter how long it persists, can never afford to become either tolerant or intellectually stable...End of quarter today, and gold and silver were under pressure as the punters were pushing the SP 500 higher for that bright, shiny new high.
Totalitarianism demands, in fact, the continuous alteration of the past, and in the long run probably demands a disbelief in the very existence of objective truth.
I took a counter bet to that into the weekend.
Intraday commentary here.
See you Sunday night. Happy Easter.