"Most men of business think that 'Anyhow this system will probably last my time. It has gone on a long time, and is likely to go on still'... Life is a school of probability."
Walter Bagehot
"When he was falsely accused by the chief priests and the elders, he gave no answer. Then Pilate asked him, ‘Don’t you hear the testimony they are bringing against you?’ But he made no reply, saying not even a single word, to the great amazement of the governor."
Matthew 27:12-14
Trump announced that his team has consummated a new trade deal with Mexico today, to replace NAFTA. One has to give him much credit for this, especially since NAFTA was so firmly embedded in the minds of the Beltway denizens and plutocrats all.
It is not wayward voters that have enabled Trump. It is due to the self-serving political establishment that has ignored, for so many years, the plight of the working class in this country. They have sacrificed it to their own gods of globalization, and the marketplace, and the supreme arrogance of their self-appointed meritocracy.
Stocks were rallying on the news, and struck new highs.
Gold and silver also rallied on fresh dollar weakness.
There will be a silver option expiration tomorrow on the Comex.
I have included charts that show the distribution of trading activity for gold and silver in the Comex futures. This allows you to see that September is an important contract for silver, but not for gold.
It is hard to believe that the first anniversary of the passing of 'the queen' is coming up this Friday. I will be placing a bouquet of red roses with one white one on her grave. Every good thing I ever had in life came from her. She brought calm to a wild spirit, and gentled his condition, and, almost against his will, brought peace and joy to his heart. And wherever she found darkness, she brought light.
Need little, want less, love more. For those who abide in love abide in God. And God in them.
Have a pleasant evening.
