Gold Daily and Silver Weekly Charts - The Careless Few and Their Tower of Babel

Gold and silver marked time today, after the fairly heavy handed smackdown from last Friday in honor of our Non-Farm Payrolls report.

 

There was some small bleeding of bullion out of the bucket shop's warehouses as noted in the reports below, but little else of note. 

 

I am reassured by some very serious people that the West's gold is not flowing East.  It is merely disappearing from here, and apparently reappearing as imports into China, Russia, the Mideast, and India there. 

 

There is nothing to see here, so move along.  Our gold is going nowhere, and their gold is apparently just apparating, like Harry Potter.  Although Harry could not have managed such a nice lingering illusion of paper as he scooted off with our gold into the Vanishing Cabinet on the Thames.  Wingardium leviosa!

 

The trick is to concentrate intently on the details, to become mesmerized by them, and to ignore all the rest.  Remember the Three D's: Destination, Determination and Deliberation.  Germany can't get their gold back?  Gold is stupid, and they don't need it.  And so moving right along...

 

I am looking into this news that HSBC is closing seven of their customer gold vaults in London.  I am a bit behind the curve today for personal obligations.  I do not know if this signifies anything yet.  But I do suspect that this will open up quite a bit of useful closet space for the globally careless few who are simply flocking in droves to London real estate like flies to honey, or whatever other propensities that flies may have.

 

I have guest posted a rather good summary of the US economic situation by C. K. Michaelson titled The Minority Report which you can read here.

 

There was also intraday commentary about the state of economic and public policy thought here.  I made some revisions to the chart of the continuum of economic and political philosophy and you may wish to take a look at it, to see if it is now a bit clearer. 

 

Putting a great deal of information and concepts into a meaningful but simple and concise format is always the most difficult challenge.  Especially when the modern impulse is to expend the greatest amount of complexity and mostly irrelevant detail on the simplest of canards.  The currency and class wars are growing this into a thriving cottage industry in support of our export of frauds and domestic deceptions.

 

One thing that struck me today is that, although we may be in difficult economic straits, we are certainly blessed with some of the most skillful and ardent professional liars in the world, if not in all of history. 

Their artfulness in distorting the facts, and in sweeping inconvenient facts aside by exploiting relatively inconsequential details, is almost astonishing. And their shameless diligence in the pursuit of wealth through deception is almost herculean.

We truly excel in our treachery, and as a nation, we can certainly be proud of it, of making good look false, black as white, of murder as human kindness, and the most ruthless and self-serving plunder and repression as the finest expression of the human spirit.

 

As Michael Parenti said, 'The enormous gap between what US leaders do in the world and what Americans think their leaders are doing is one of the great propaganda accomplishments of the dominant political mythology.'

 

Never have so many, sacrificed so much, for such an undeserving and deceitfully careless few. 

 

Better call Saul.

 

Have a pleasant evening.