"Of this Logos, the Word, being eternal men have proven to be uncomprehending, both before they hear and once they have heard it. For although all things happen according to this Word, they are like the uneducated who first experience words and deeds such as when I distinguish each thing according to its essence and show how it is.
And as for the rest, they are as unaware of what they do when they are awake, as they are when they are asleep."
Heraclitus
Heraclitus was a grouchy old cuss, wasn't he? As I recall he ended badly, becoming a hermit or something like that. Much of what he said comes as fragments quoted by his contemporaries such as Plato and Euripides.
The Greeks had a true, monumental civilisation when most of Europe was still living in mud huts and hauling very large stones about for something spiritual to do. How have the mighty fallen indeed.
I picked up some of Heraclitus' material today and reread it, for some reason that escapes me now. It seemed like the thing to do in the spirit of change after stripping the old caulk from the bathroom and replacing it with new silicon caulk, which is stubbornly clingy, not amenable to differing bends and curves, and hard to work with and clean up afterwards. Rather like most economic theories, especially those concerning money.
What remains to us from those days, except for their words, their wondrous monuments, and their artifacts, fashioned from enduring things, like gold?
Gold had another run up at 1200 today, as stocks did a rally attempt on Yellen's dovish words and then fell back down hard below key resistance.
I also bought a small position in a miner today, so my bullion positions would not become lonely.
There was a rather large delivery in gold at The Bucket Shop yesterday. The box scores are included below.
Uncle Buck swooned a bit more, most likely compliments of the fumbling Fed.
Let's see what tomorrow brings.
Have a pleasant evening.
