03 August 2023

Stocks and Precious Metals Charts - Masters of the Universe - Non-Farm Payrolls Tomorrow

 

“In a room where people unanimously maintain a conspiracy of silence, one word of truth sounds like a pistol shot.”

Czesław Miłosz,  Nobel Prize, 8 December 1980


“They're certainly entitled to think that, and they're entitled to full respect for their opinions, but before I can live with other folks I've got to live with myself.  The one thing that doesn't abide by majority rule is a person's conscience.”

Harper Lee, To Kill a Mockingbird


"At times, God will be the only witness to your righteous behavior.  Sometimes God is the only one who will understand your motives.  At such times all you can do is maintain your integrity, trusting that God always keeps His eyes on you.  God looks favorably upon those who walk with integrity, doing what they know is right, regardless of how others perceive their actions.

The most important thing is that you are a person of integrity before God.  When no one seems to understand why you have done something or when others question whether you have done all you should have done, your confidence should not be in the hope of vindication in the eyes of others.  It should be in the knowledge that God keeps you in His sight.  If you have this confidence, it will be enough to sustain you."

Henry Blackaby, Integrity Upheld

 

I have included a chart below of the range of gold futures contracts.

The August contract is now setting the 'spot price' and is driving the continuous contract quote as well.

See how narrow the volume is, compared to October and December.

The Dollar chopped sideways finishing just a little lower.

Gold traded woodenly, compared to the volatility in the related miners.

Silver lost more ground but took a bit back after the initial plunge bath.

Stocks bounced a bit in tech land but as for the rest of them, meh.

Non-Farm Payrolls tomorrow.  

It's the big reveal for all the preceding shenanigans.

The lack of integrity in Western political, financial, academic, and corporate leadership is very discouraging.  Financialization has ripped civility of the spirit from our hearts and souls.

"I want to end with the idea that the [unregulated] market is capable of resolving all of our social conflict, fairly and justly.  That is the great idea of the 1990's.   And we all know now what a crock that is.   I think what we need in order to restore some kind of sense of fairness is not the final triumph of markets over the body and soul of humanity, but something that confronts markets, and that refuses to think of itself as a brand."

Thomas Frank

The oligarchy is audacious, and getting moreso every day. 

Surely, there is at this day a confederacy of evil, marshaling its hosts from all parts of the world, preparing to take many, both the willful and unsuspecting, as if in a net.

Winning....

Have a pleasant evening.