Gold Daily and Silver Weekly Charts - Failing Policies of the Financial Engineers

"The enormous gap between what US leaders do in the world and what Americans think their leaders are doing is one of the great propaganda accomplishments of the dominant political mythology."

Michael Parenti

Gold and silver marked time today, digesting their recent gains.

 

But they are also being held to the 'round numbers' of 1200 and 17.   This is perception management.

 

The economic establishment and their Federal Reserve are failing, and badly.  They are frightened, but do not know what to do, and so they keep doing the same things, over and over.

 

Their failures are the direct result of intellectual dishonest and systematic injustice.  The credibility trap has them bound to policy failures that somewhat ironically will bring them down.

 

They have lied so often that one wonders if they can even understand the truth.  They certainly put enough pressure on keeping anyone of note from dissenting against their madness and their lies.

 

The only thing exceptional about the West is their exceptional self-delusion about their own goodness and secure position on the moral high ground of history.    

 

Have a pleasant evening.

 

 

 

SP 500 and NDX Futures Daily Charts - Where's The Recovery™ - Shout and Feel It

 

"We cannot look to the conscience of the world when our own conscience is asleep."

Carl von Ossietzky, German editor of Die Weltbühne, awarded the Nobel Peace Prize in 1935

"It would be no sin if statesmen learned enough of history to realize that no system which implies control of society by privilege seekers has ever ended in any other way than collapse."

William Dodd, historian and US Ambassador to Germany, 1933

There isn't any recovery.  Or at least the false recovery that has been erected is showing great holes through its painted canvas and thin veneer of distorted statistics.

The Fed will still raise interest rates at least once or twice, for 'technical reasons' that have nothing to do with the real economy and everything to do with their own financial engineering practices and the desires of the financiers.

The credibility trap remains a powerful snare for the pampered princes and princesses.  How can they admit what is wrong without endangering their own privileged positions and undermining the 'authority' that they so undeservedly enjoy?

 

And so by example and by continuing reinforcement, lies and deception have become the generally accepted way of doing business in the land of the exceptional.  Exceptionally self-deluded that is.

 

The Banks must be restrained, and the financial system reformed, with balance restored to the economy, before there can be any sustainable recovery.

Have a pleasant evening.

 

Gold Daily and Silver Weekly Charts - Hey Boparee Bop, Bop Bop Sh'Bop

Gold and silver were bumping their heads pretty hard against overhead resistance after the first hour this morning as Bill Dudley of the NY Fed was out jawboning the stock markets higher as equities were in meltdown mode, threatening to break some key support.

This had the effect of putting a fire under the metals, which were carefully capped at the 2 percent level.

The metals did give some of it back to profit taking in the late afternoon.

This is some rough stuff overhead. Let's see if the metals can push through it.

That big swing in stocks today, off a little jawboning by Goldman's man at the NY Fed, should give you a hint at how disconnected valuations are from anything remotely resembling economic fundamentals.

Keep on truckin'.

Have a pleasant evening.