Stocks and Precious Metals Charts - Reversals - Non-Farm Payrolls Friday

 

"We had to struggle with the old enemies of peace--business and financial monopoly, speculation, reckless banking, class antagonism, sectionalism, war profiteering.  They had begun to consider the Government of the United States as a mere appendage to their own affairs.  We know now that Government by organized money is just as dangerous as Government by organized mob." 

Franklin D. Roosevelt, The Second New Deal, 31 October 1936 

 

"From this rather innocuous mention, the little notion of collateral consequences would blossom into the great strangling vine that came to be known after the financial crisis of 2008 by its shorthand: 'too big to jail.'  Prosecutors and regulators were crippled by the idea that the government could not criminally sanction some companies—particularly giant banks—for fear that they would collapse, causing serious problems for financial markets or the economy.   Today’s Department of Justice has lost the will and indeed the ability to go after the highest-ranking corporate wrongdoers.”

Jesse Eisinger

 

"This empire, unlike any other in the history of the world, has been built primarily through economic manipulation, through cheating, through fraud, through seducing people into our way of life, through the economic hit men." 

John Perkins 

 

Stocks were down hard this morning, but reversed and rallied into the green for the close.

The Dollar was higher, taking back the 94 handle and then some.

Gold and silver edged higher.

A better than expected ADP payroll number, and optimism about the debt ceiling caused the green shoots of exuberance to break out, anew.

Yay we win again.

Non-Farm Payrolls on Friday.

Have a pleasant evening.