19 January 2018

Stocks and Precious Metals Charts - Ship of Fools

"Imagine then a fleet or a ship in which there is a captain who is taller and stronger than any of the crew, but he is a little deaf and has a similar infirmity in sight, and his knowledge of navigation is not much better. The sailors are quarreling with one another about the steering––every one is of the opinion that he has a right to steer, though he has never learned the art of navigation and cannot tell who taught him or when he learned, and will further assert that it cannot be taught, and they are ready to cut in pieces any one who says the contrary."

Plato, Republic, 'Ship of Fools'

“In an ever-changing, incomprehensible world the masses had reached the point where they would, at the same time, believe everything and nothing, think that everything was possible and that nothing was true. ... Mass propaganda discovered that its audience was ready at all times to believe the worst, no matter how absurd, and did not particularly object to being deceived because it held every statement to be a lie anyhow.

The totalitarian mass leaders based their propaganda on the correct psychological assumption that, under such conditions, one could make people believe the most fantastic statements one day, and trust that if the next day they were given irrefutable proof of their falsehood, they would take refuge in cynicism; instead of deserting the leaders who had lied to them, they would protest that they had known all along that the statement was a lie and would admire the leaders for their superior tactical cleverness.”

Hannah Arendt, The Origins of Totalitarianism

"Ship of fools on a cruel sea, ship of fools sail away from me.
It was later than I thought when I first believed you,
Now I cannot share your laughter, ship of fools."

Jerry Garcia and Robert Hunter, Ship of Fools

Today was options expiration and stocks had an upward drift and chop through most of the day, finally finishing in the green.

Gold and silver caught a bid, but remained stubbornly below overhead resistance.

The Dollar tried to rally, and did get to keep a little bit from what it had lost yesterday.

What are the odds of a government shutdown? The markets do not seem to care.  The financiers are utterly self-absorbed, and thereby going forward with eyes done, with no care for what approaches over the horizon.

Remember to care for the poor, both in body and in spirit.  Pray for your brothers and sisters, as each one bears their own hardships.  And remember to feed His little ones—  of all kinds, including yourself.

Have a pleasant weekend.