Jesse, Housing Madness, 15 April 2008
"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."
Peter Dale Scott, 9/11, JFK, and War: Recurring Patterns, 2013
"I am on your side. But you have no way of knowing it, because your heart is blind."
Albert Camus, The Stranger, 1942
"The reality is that the repeal of Glass-Steagall ushered in the greatest wealth transfer scheme in the history of America, allowing six mega banks in America to control the vast majority of insured deposits, use those taxpayer-backed deposits to gamble for the house, loot the bank from the inside by paying billions of dollars to select employees and customers and then hand the gambling tab to the taxpayer when the casino burns down. This model is a staggering headwind on both U.S. and global growth because it has created the greatest wealth and income inequality since the Great Depression."
Pam and Russ Martens, The Real Reason Global Stocks Are Flashing Red, 2015
"The world is ours, we are its lords, and ours it shall remain. As for the host of labor, it has been in the dirt since history began, and I read history aright. And in the dirt it shall remain so long as I and mine and those that come after us have the power.
There is the word. It is the king of words— Power. Not God, not Mammon, but Power. Pour it over your tongue till it tingles with it. Power.”
Jack London, The Iron Heel, 1907
The announcement came out over the weekend that the US was open to negotiating a peace with Iran, again.
And they were pumping the futures on Sunday night into Monday morning.
But alas, the rally quickly flopped and stocks sold off.
They did manage to gain a little back into the close as hope beats eternal.
There will be a precious metals futures option expiration tomorrow on the Comex.
The August contract is significant for gold, less so for silver.
VIX rose.
There will be a Federal Reserve interest rate decision on Wednesday afternoon.
The energy situation is looking increasingly dire. The manner in which it is being papered over is just going to make the ultimate impact of it on the economy all the worse.
The situation in the private credit markets is also looking very potentially kinetic, as they say.
Think of a few, over-sized dominoes falling down as they tip each other over, while smashing hundreds of smaller dominoes flat all around them.
It will not be pretty. It will be more comprehensive than the talking heads will allow.
What makes it even more vile is that it is brazenly conscious and deliberate, a part of an ongoing scam by insiders to become fabulously wealthy.
This is the legacy of the last two bubbles and the failure to correct the arc of the civic and financial morality in the US.
Across all three branches of government, this is the most ineffective and self-serving group of individuals that we have seen in power since the period after the Civil War and the Gilded Age.
Have a pleasant evening.
