04 December 2014

Gold Daily and Silver Weekly Charts - The Fourth Turning - Come As You Are

Dürer, Knight Death and the Devil
"But now, in this century of ideologies, the Gods and Destiny have been given new life. 'Miracles in the world are many,' Sophocles wrote in the fifth century BC. 'There is no greater miracle than man.'

Suddenly, at the end of the twentieth century, we discover that no, after all, it isn't true. Historical inevitability is a greater miracle than man. As is the dialectic. As is the superiority of various groups according to blood type. As is the genius of an abstract mechanism called the market. As is the leadership of inanimate objects — called technology — which worker bees create and then, inevitably, are led by.

These inevitabilities are great leaps backward into the arms of the Gods and Destiny."

John Ralston Saul

It's funny but I remember translating that line above from Sophocles as an undergraduate in college. 'Many are the wonders, but nothing more wondrous than man.'

We are much worse than ancient cultures with their superstitions. We are granted enormous amounts of data, with more knowledge of the workings of the physical universe and nature than any other generation.   
And yet we cannot see 'the big picture' as well as they had done, substituting our own myths and legends of ourselves and our marvelous exceptionalism for reality, while ignoring the greatest forces of God and Nature. 
We dissipate, relentless in our doom, to glare at photons, gaping in the light.
Non-Farm Payrolls report tomorrow.
It has now been over three years since MF Global went bankrupt, caught in a series of margin calls on their house accounts, coupled with massive misuse of customer assets.  And we still do not know what happened, and there have been no prosecutions.

The next turning will be televised. In living colour. 
Come as you are. 

Have a pleasant evening.