13 August 2020

Stocks and Precious Metals Chart - Then the Flood Came - Fed Underpins Global Financial Assets

“The mob believes everything it is told, provided only that it be repeated over and over.  Provided too that its passions, hatreds, fears are catered to.   The grosser, the bigger, the cruder the lie, the more readily is it believed and followed.   The mob has no memory; no need to pretend to any truth: the mob is radically incapable of perceiving the truth: the mob can never comprehend that its own interests are what is at stake.”

Alexandre Koyré, Réflexions sur le Mensonge, January 1943

“Evil when we are in its power is not felt as evil, but as a necessity, or even a duty."

Simone Weil

“Each day we are becoming a creature of splendid glory, or one of unthinkable horror.”

C. S. Lewis

Stocks tried to reach a new high note again today, but fell back as the wanton disregard for risk failed to sustain the punters, and draw in more innocents to take the handoff of overpriced financial assets at the top.

Gold and silver continued to rebound after the calculated and fairly blatant price smackdown.

Even the spokesmodels took note of silver's impressive rebound.

The dollar has drifted sideways.

And because of the increase in wickedness, the love of most will grow cold.

Have a pleasant evening.