Gold Daily and Silver Weekly Charts - Fasten Your Seat Belts

Bernanke speaks on Wednesday, and the banks report earnings on Friday.

Let's see how this progresses. The inventory levels on the Comex are quite interesting.

I am holding both gold and silver from last week.  I did pick up a bit of volatility today.

Mr. TFerguson has some interesting comments to make tonight on the Bank Participation Report and the 'big short' held by the Banks.

Expert market structure analyst Ted Butler also notes that the banks have covered their big gold short from November last, and gone net long. He adds:

"Making the gold report even better was that speculators in the managed money and other reportable trader category did all the selling, both long liquidation and new short selling (as opposed to the non-reportable traders). The tech funds’ gross short position grew to a new record, as did the total speculative gross short position. This should provide more than ample fuel when we turn up and violate the moving averages to the upside."

The current structure of the precious metals market is interesting.   What is considered to be the smart money is flush, and the momentum money is caught hanging out rather short.  It does remind one of The Reeve's Tale.   Or as George Takei would say, 'Oh my!'    

As you know I also have been watching gold's 50 DMA for some confirmation that a bottom to this selling is in.  I do not wish to presume, but it does seem rather likely, if not now then soon.  After all, this is a currency war, with betrayal and deception as the order of the day.  And that is from your own side.

Stand and deliver.

I found a rather nice illustration of the credibility trap today in a BBC panel discussion that includes Russell Brand. You may wish to take a look at the whole thing in addition to the short clip.

In times like these, only comedy can dare to speak the truth to power.

SP 500 and NDX Futures Daily Charts - Earnings Season Begins

Earnings season began tonight with Alcoa 'beating by a penny' after the bell.

Bernanke will speak on Wednesday.

The banks report on Friday.

The real economy languishes.

Credibility Trap: When Only Comedy Can Dare Speak the Truth

Here is a link to the entire show from which this clip has been excerpted.

The credibility trap is a means by which the perpetrators co-opt, and essentially attempt to hold to blackmail, the entire power structure of the status quo. Note too how the CEO defense and other gross generalizations of culpability and the law are such an instrumental part of the aftermath of this type of widespread corruption.

These financial con men do not rely on loyalty, trust, and the truth, because they have no part of it. Instead they use deception, threats and blackmail to achieve their ends, always, no matter in what patriotic or ideological wrappers they may seek to cloak their perfidious means.




As a bonus, here is a clip of Russell Brand completely unhinging the spokesmodels and poseurs on MSNBC. I found it to be almost embarrassingly hilarious. These consider themselves to be serious  journalists of the highest order, and look down upon those who struggle on in bringing truth to light without the high pay and reassuring cocoon of corporate sponsorship.