28 June 2018

Stocks and Precious Metals Charts - Narcissus and Echo - God's Eloquent Silence

“The narcissistic orientation is one in which one experiences as real only that which exists within oneself, while the phenomena in the outside world have no reality in themselves, but are experienced only from the viewpoint of their being useful or dangerous to one. The opposite pole to narcissism is objectivity; it is the faculty to see other people and things as they are, objectively, and to be able to separate this objective picture from a picture which is formed by one's desires and fears.

The faculty to think objectively is reason; the emotional attitude behind reason is that of humility. To be objective, to use one's reason, is possible only if one has achieved an attitude of humility, if one has emerged from the dreams of omniscience and omnipotence which one has as a child. Love, being dependent on the relative absence of narcissism, requires the development of humility, objectivity and reason."

Erich Fromm, Art of Loving

"You do not know the working class. But you are not to be blamed for this. How can you know anything about the working class? You do not live in the same locality with the working class.  You herd with the capitalist class in another locality. And why not? It is the capitalist class that pays you, that feeds you, that puts the very clothes on your backs that you are wearing to-night.  And in return you preach to your employers the brands of metaphysics that are especially acceptable to them; and the especially acceptable brands are acceptable because they do not menace the established order of society.

Each of you dwells in a cosmos of his own making, created out of his own fancies and desires. You do not know the real world in which you live, and your thinking has no place in the real world except in so far as it is phenomena of mental aberration."

Jack London, The Iron Heel

Someone asked me if the moneyed interests and their servants and enablers wouldn't become afraid eventually if things get really bad, and ease up a bit.

 I said that history suggests that the answer is probably no. The professional enablers are compelled forward by the credibility trap, and their own continuing self-interest and service to their paymasters, who are malformed destroyers at heart.

For the moneyed interests, tragedy is a wonderful opportunity, because it greatly increases the lawlessness which they use as a cover and opportunity for their predations and depredations, bringing greater power and personal increase. After all, vultures do not produce, but prey on weakness and tragedy.

And because of their all consuming egos and developmental infirmities they are not only without conscience, their distorted world view prevents them from seeing themselves as ever failing.  They believe themselves to be the center of all creation, superior and virtually immortal.   Their pride makes them blind.

They are Narcissus. 

And they are capable of doing monstrous things, especially as they falter, because failure is not a possibility, and so they retreat into fantasy and paranoia.

And who then is their Echo?  Their media?  Their supporters?  Their close associates?  Their own minds?  Perhaps all of the above.

They never do see what they are doing even to themselves, and care even less about others except those who are extensions of themselves.   They will press forward until the very moment of their own downfall and bitter end, when rough hands take them where they do not wish to go. Have we not seen this, even in our own time?

And this is why people combine to make laws and establish justice, and why this is a never ending task, given the forces in some segments of humanity that constantly war against justice and fairness.

Stocks managed another dead cat bounce today.  We may have to wait until something more tangible cheers them.  Like a addict, the markets need an almost daily fix, whether it be some fantasy of numbers, or some rallying cry of policy, to make them feel that they are, indeed, winning.

Gold and silver drifted a bit lower, and the Dollar went pretty much sideways.  The inventory of physical gold available for immediate delivery continues to be rather low.

When one has an imbalance of 'paper claims per ounce' there are two ways to resolve it.  The first is to find more physical gold to be delivered at current prices.   And the other is to somehow drive down the number of claims, the open interest, but reducing any enthusiasm in the demand.

You may wish to consider what is happening now, and what it means, what is implied by it.

Tomorrow we will be heading into a weekend followed by a holiday shortened week—  often risky business.

But we nevertheless will be seeing a fair amount of interesting economic data, including a Non-Farm Payrolls report on Friday.  Yippee.

There is the world, with its kingdoms in all their glory. And there is the Lord, and him crucified.   And he bids us follow. 

To the world this is incomprehensible,  both madness and obstacle.  And yet we are called, just as when he walked the earth among us.  It is a continuing struggle, a way of life, a journey, until we finally enter into his father's house.

Need little, want less, love more.  For those who abide in love abide in God, and God in them.

Have a pleasant evening.