26 January 2024

Stocks and Precious Metals Charts - Dancing on a Volcano


"Do not fear your enemies.  The worst they can do is kill you.  Do not fear your friends. At worst, they may betray you.  Fear those who do not care; they neither kill nor betray, but betrayal and murder exist because of their silent consent."

Bruno Jasieński, Spiknutí lhostejných, Praha 1958

"We're talking about an ideology marked by the selling off of public goods to private interests; the attack on social provisions; the rise of the corporate state organized around privatization, free trade, and deregulation; the celebration of self interests over social needs; the celebration of profit-making as the essence of democracy coupled with the utterly reductionist notion that consumption is the only applicable form of citizenship.  But even more than that, it upholds the notion that the market serves as a model for structuring all social relations: not just the economy, but the governing of all of social life.

That's a key issue. I mean, this is a particular political and economic and social project that not only consolidates class power in the hands of the one percent, but operates off the assumption that economics can divorce itself from social costs, that it doesn't have to deal with matters of ethical and social responsibility, that these things get in the way.

And I think the consequences of these policies across the globe have caused massive suffering, misery, and the spread of a massive inequalities in wealth, power, and income.  We see the privatization of public services, the dismantling of the connection between private issues and public problems, the selling off of state functions, deregulations, an unchecked emphasis on self-interest, the refusal to tax the rich, and really the redistribution of wealth from the middle and working classes to the ruling class, the elite class."

Henry Giroux, On the Rise of Neoliberalism, 19 October 2014

The precious metals futures options expiration today was rather quiet.

FOMC on Wednesday January 31st and a Jobs Report coming on Friday, February 2nd.

The mispricing of risks in the equity markets remains pronounced.

"The whole town and all its inhabitants are quite drowned in carnival din, masks and confetti.  And on top of that the news of the Reichstag fire.  Dancing on a volcano."

Alban Berg, Letter from Berlin, September 1, 1933
Have a pleasant weekend.