Gold Daily and Silver Weekly Charts - Les Cahiers de la Nuit Surveillée

"People who lie to themselves, and believe their own lies, becomes unable to recognize the truth, either in themselves or in anyone else. 

And they end up losing respect for themselves and for others. When they have no respect, they can no longer love.

So they yield themselves up to their impulses, indulging in the lowest forms of pleasure, and behave in the end like a thing obsessed in satisfying their vices.

And it all comes from lying — to others and to yourself."

Fyodor Dostoevsky, The Brothers Karamazov

Gold was capped a bit with equity markets and oil rising as speculators were feeling frisky about the Eurozone and an economic recovery in the US.

The pigmen and pampered princesses were just shameless on Bloomberg television today.

"Beauty may be skin deep, but the ugliness of vanity, selfishness, and deceit goes to the bone."

SP 500 and NDX Futures Daily Charts - Plus C'est La Même Chose

“I know that life is a doorway to eternity, and yet my heart so often gets lost in petty anxieties. It forgets the great way home that lies before it.”

Sophie Scholl

Riskiness was the trade today as the Greek Parliament voted to place its economy under European austerity measures and the financials rallied.

1350 is the big resistance in the SP futures. Apple is the Titan of the tech sector reaching $500 today.

SP 500 Deflated By Gold

Much of the recent rally, that nominally looks like a straight shot higher is really due to the monetization going on in the US and Europe.

Such distribution of money through asset bubbles can provide the appearance of vitality, but it is not self-sustaining.

But as we saw in the tech and the housing bubbles, they can go quite far, and inflict serious damage on real economy, before they collapse.