29 November 2023

Stocks and Precious Metals Charts - Apparitions of Prosperity - The Foolish Rich

 

Then he told them a parable: “There was a wealthy man whose land yielded an abundant harvest. He thought to himself, ‘What shall I do, for I do not have sufficient space to store my crops?’  Then he said, ‘This is what I will do.  will pull down my barns and build larger ones, where I will store my grain and other produce, and I shall say to myself,  “Now you have an abundance of goods stored up for many years to come.  Relax, eat, drink, and be merry.” ’

“But God said to him, ‘You fool!  This very night your life will be required of you.  And who then will get to enjoy the fruit of your labors?’  That is how it will be for the one who stores up treasure for himself yet fails to become rich in the sight of God.”

Luke 12:16-21

“Religion used to be the opium of the people. To those suffering humiliation, pain, illness, and serfdom, religion promised the reward of an after life.   But now, we are witnessing a transformation: a true opium of the people is the belief in nothingness after death, the huge solace, the huge comfort of thinking that for our betrayals, our greed, our cowardice, our murders, we are not going to be judged.”

Czeslaw Milosz, Discreet Charm of Nihilism

And when He had called the people and His disciples, He said to them, “Whoever will come after Me, let them deny themselves, and take up their cross, and follow Me.  For whoever will save their life shall lose it; but whoever shall lose their life for My sake and for that of the good news shall save it.   For what does it profit a man, if he shall gain the whole world, and lose his soul?

Or what shall a man give in exchange for his soul? Whoever shall be ashamed of Me and of My words in this adulterous and sinful generation, of him also will the Son of Man be ashamed when He comes with holy angels in the glory of His Father.”

Mark 8:34-38

Stocks staged a remarkable failed rally today.

Gold and silver marked time as they digested their recent breakout. 

Let's see if they can hang on to it.  Overhead resistance calls.

The Dollar chopped sideways.

Risks remain underappreciated.

We have a pronounced habit of sanctifying worldly success.

It is a phantom and often a thin facade of deception.

In the end, the only real tragedy is not to have been a saint.

Have a pleasant evening.