16 July 2024

Stocks and Precious Metals Charts - Oligarchy and the Plutocracy - The Metals Rally

 

"Like the Labour Party in Britain and its equivalents among former social democratic parties such as the Labor Party in Australia, still describing themselves as 'liberal' or even 'left', Syriza is the product of an affluent, highly privileged, educated middle class, 'schooled in postmodernism', as Alex Lantier wrote.
For them, class is the unmentionable, let alone an enduring struggle, regardless of the reality of the lives of most human beings.  They lead not the resistance that ordinary people crave, but 'better terms' of a venal status quo that corrals and punishes the poor.  When merged with 'identity politics' and its insidious distractions, the consequence is not resistance, but subservience.  Mainstream political life in Britain exemplifies this."

John Pilger, The Problem of Greece is not Only a Tragedy: It is a Lie, CounterPunch, Jul 13, 2015

"The American economy increasingly serves only a narrow part of society, and America's national politics has failed to put the country back on track through honest, open, and transparent problem solving. Too many of America's elites-among the super-rich, the CEOs, and many of my colleagues in academia-have abandoned a commitment to social responsibility. They chase wealth and power, the rest of society be damned."

Jeffrey Sachs, The Price of Civilization, October 4, 2011

“It could be argued that we are now in the midst of a coup d’état in slow motion.  Democracy is weakening; few people would disagree.  Corporatism is strengthening; you only have to look around you.  Yet none of us has chosen this route for our society, in spite of which our elites quite happily continue down it.  Certainly corporatism is creating a conformist society.  It is a modern form of feudalism.”

John Ralston Saul, The Unconscious Civilization, 1995

"This elite-generated social control maintains the status quo because the status quo benefits and validates those who created and sit atop it.  People rise to prominence when they parrot the orthodoxy rather than critically analyze it.  Real change in politics or society cannot occur under the orthodoxy because if it did, it would threaten the legitimacy of the professional class and all of the systems that helped them achieve their status.

Kristine Mattis, The Cult of the Professional Class, April 4, 2016


It was a solid 100°F here today.  Not all that unusual for July.  But it certainly does not encourage one to do yardwork.

For the 2024 election the alternative independent choice is going to be a third party, and probably Robert Kennedy.  The establishment hates and fears him for his independence.  And they smear and try to silence him relentlessly.  That's a pretty good endorsement, because they themselves are unprincipled and corrupt, faithless and venal warmongers.

Our oligarchy is the public face of the plutocracy.   An oligarchy is a government where the public discussion and agenda are significantly controlled by an elite minority.   A plutocracy is a government controlled by a few wealthy individuals.  

So what we have is a government in which an elite, credentialed minority holds most of the power, and serves for pay on the behalf of a wealthy few.

Old as Babylon, evil as sin.

Gold and silver rallied briskly today, going out near the highs.

The Dollar just chopped around.

VIX is still wallowing.

Tech was lower, the SP 500 and the broader market managed to post gains.

Option expiration on Friday.

If you keep in mind that the US is ruled by a credentialed oligarchy, for the benefit of a wealthy few, then a lot of things will make better sense as you  look at them.

Call it 'deep state' if you will, although some dislike this term.  But there is an inner clique of power, that is able to kill presidents, flout the law at will, knock skyscrapers flat, and foment wars of aggression that result in the death of millions — and not be held accountable for any of it.  They deal in illusions.

And you will not able to stand against it, against the allure of power and money, unless you keep and hold fast to the love of God in your heart.

In the end, you will be found applauding the powers of darkness in this world, with blood on your hands, believing in unconscionable evil, and be proud of it.  

You may be miserable in hell, but you will have the company of some of the finest people.

It's a brisk trade in human weakness and folly.

Have a pleasant evening.