"It is not possible to found a lasting power upon injustice, perjury, and treachery. These may, perhaps, succeed at first, and limp along on hope for awhile with a flourishing appearance. But time betrays their weakness, and they eventually fall into ruin of their own designs."
Demosthenes, Orations Against Philip of Macedon, 4th century BC
"It was incredible. It was distressing to me how simple and outrageous it was. It wasn't so complicated that you said, 'Wow, at least they're smart in the way they're doing it.' It was simple. It was brazen. The evidence of it was overwhelming. It's just that it hadn't been revealed to the public, and that's why could get away with it. One of the things that is eminently clear from our investigation is that all the compliance departments, all the self-regulation is nothing. They watched it, but they did nothing."
Eliot Spitzer, The Wall Street Fix, March 16, 2003
"The economy - once a great scatter of small productive units in autonomous balance, has become dominated by two or three hundred giant corporations, administratively and politically interrelated. The political order, once a decentralized set of several dozen states with a weak spinal cord, has become a centralized executive establishment which has taken up into itself many powers previously scattered. The military order, once a slim establishment in a context of distrust fed by state militia, has become the largest and most expensive feature of government.
The American elite does not have any real image of peace — other than as an uneasy interlude existing precariously by virtue of the balance of mutual fright. The only seriously accepted plan for peace is the fully loaded pistol. In short, war or a high state of war-preparedness is felt to be the normal and seemingly permanent condition of the United States."
C. Wright Mills, The Power Elite, 1956
"Be glad as children, as the birds of heaven. And do not let the sins of men confound you in your doings. Do not fear that they will wear away your work and hinder its being accomplished. Do not say, 'Sin is mighty, wickedness is mighty, evil environment is mighty, and we are lonely and helpless, and evil environment is wearing us away and hindering our good work from being done.' Of the pride of Satan what I think is this: it is hard for us on earth to comprehend it, and therefore it is easy to fall into error and to share in it, even imagining that we are doing something grand and fine."
Fyodor Dostoevsky, The Brothers Karamazov, pages 407-8, 1880
Stocks were slumping a bit today, but found support at 33 Liberty Street in New York.
Three ships in the Persian Gulf and the Strait of Hormuz were 'hit by projectiles' today.
Gold and silver were hit by selling as the Dollar had a little boost into the 99 handle.
VIX is meandering around, and might be coiling up for a move.
Bitcoin managed to hang on to the 70k handle.
There is still some time to make provisions for the admittedly low probability of more severe disruptions to your daily lives, in the manner of the Covid lockdown.
No surprise, the movie 'Melania' is the number one movie sensation on Amazon Prime. I am going to wait for the RiffTrax release to watch it.
As in every war, the governments are covering up negative news, and promoting the messages that they wish for you to believe.
And in this case our elites are engaging in some highly lucrative insider trading at almost every opportunity they can create.
Shameless, and without honor. These are the fruits of moral hazard.
Have a pleasant evening.
