Federal policy is increasingly dictated by the wealthy, by the financial sector, and by powerful (though sometimes badly mismanaged) industries such as telecommunications, health care, automobiles, and energy. These policies are implemented and praised by these groups’ willing servants, namely the increasingly bought-and-paid-for leadership of America’s political parties, academia, and lobbying industry.
If allowed to continue, this process will turn the United States into a declining, unfair society with an impoverished, angry, uneducated population under the control of a small, ultrawealthy elite. Such a society would be not only immoral but also eventually unstable, dangerously ripe for religious and political extremism."
Charles Ferguson, Predator Nation, 2012
As you can see, gold was pushing much higher this morning, up to $1270, and silver to 17.60, and then they were slammed down rather hard by selling. Some will say that this was because the ECB had done nothing in their meeting today. Nothing that is, except to continue to provide unprecedented stimulus designed to prop up their financial sector while doing little for the broader public economy.
Financial assets in the US like stocks are being pushed steadily higher for some time now, I believe as either an instrument or an artifact of the bubble-nomics being promoted by the Federal Reserve and the Administration. One tries to provide some semblance of prosperity for the sake of perception management, while others cash in based on their information about what is happening.
Again, this is not capitalism, by any stretch of the imagination; it is mere plunder. And it will remain as such until it stops being highly profitable with little risk of serious punishment to the predator class and their enablers. And if you are expecting serious reform from the leading presidential candidates, then you may still be breathing the fumes from the pipe of 'hope and change.'
There will not be further updates today unless something extraordinary happens.
Mary continues on in intensive care. Thank you for your kind thoughts and prayers. One step at a time.