"Structural deep events are events which violate the American social structure, have a major impact on American society, repeatedly involve lawbreaking or violence, and in many cases proceed from an unknown dark force.”
Peter Dale Scott, Deep Politics and the Death of JFK, 1993
"The end of Bretton Woods was a pivotal moment in the history of the US deep state. The 1960’s and 1970’s saw something of a civil war within America’s deep political system. The systemically destabilizing effects of Vietnam War spending created a conflict between 'Prussians' and 'traders,' i.e., neoconservatives and neoliberals.
The subsequent Petrodollar/US Treasury Bill standard replaced the Bretton Woods gold standard and formed one of the two pillars of the subsequent Dollar-Wall Street Regime. This system gave the US the Rumpelstiltskin power to create credit that the rest of the world would have to treat as being 'as good as gold.'
Only a small number of economists and insiders recognized this at the time and in subsequent years. This historically unprecedented power led to the reconciling of the neoliberal and neoconservative interests by facilitating US dominance of world trade and endless deficits for military spending."
Aaron Good, American Exception: Empire and the Deep State, 2022
"If history is what is recorded, then deep history is the sum of events which tend to be officially obscured or even suppressed in traditional books and media. Important recent deep events include the political assassinations of the 1960s, Watergate, Iran- Contra, and now 9/11. All these deep events have involved what I call the deep state, that part of the state which is not publicly accountable, and pursues its goals by means which will not be approved by a public examination. The CIA, with its on-going relationships to drug-traffickers, is an obvious aspect of the deep state, but not the only one, perhaps not even the dirtiest.
The difference between 1963 and 2001 was in the White House. Eisenhower, Kennedy and Johnson successfully contained the desires of their hawks to defeat and destroy the Soviet Union. But Bush and Cheney have maneuvered America into a war on terrorism. That war threatens to become a permanent justification for curtailing the U.S. constitution’s elaborate checks and balances, and its guarantees of America’s traditional liberties. "
Peter Dale Scott, 9/11, JFK, and War: Recurring Patterns, 2013
“I know the capacity that is there to make tyranny total in America, and we must see to it that this agency [the National Security Agency] and all agencies that possess this technology operate within the law and under proper supervision, so that we never cross over that abyss. That is the abyss from which there is no return."
Senator Frank Church, Meet the Press, August 17, 1975
Stocks did the old wash and rinse today, as one might have come to expect.
Wash yesterday, rinse a bit today.
The market is holding its breath for the Nvidia earnings report tonight after the bell.
They will be looking for any tariff impacts, etc.
Gold held its ground, but the miners seem to be anticipating an end to this event-driven correction.
Silver took it on the chin a bit and fell with equities.
VIX remains below its 200 DMA.
The Dollar bounced higher again, now back to the top of the 99 handle.
We will be getting quite a bit of key economic data for the rest of this week.
The geopolitical risks remain seriously underpriced.
US foreign policy is seriously warped by special interests, with the American people fairly low on the priority ladder.
Have a pleasant evening.
