Post FOMC Metals Rig: Right On Schedule

This is what the pampered princes of privilege do when they fail.

 

They try to hide it.  They lash out.   They cheat.

 

They are petty.  But vicious when frightened.

Most of the successes they have obtained throughout their lives have been gained by cheating, using inside information, rigging the game, exercising influence, position, and privilege.

They twist the fabric of society to weave their robes.

 

They make and break the rules to suit themselves and their friends.

 

They make our markets into bucket shops.  Our laws are just pieces of paper.

 

They try to make other people pay for their mistakes.

 

As they have been doing all throughout their lives.

Success.   They deserve it, one banal and disreputable way or another.

For the good of the system.   

 

 

 

Gold Daily and Silver Weekly Charts - A Policy of Plunder and the Sickness Unto Death

"An elite class that is free to operate without limits - whether limits imposed by the rule of law or fear of the responses from those harmed by their behavior - is an elite class that will plunder, degrade, and cheat at will, and act endlessly to fortify its own power."

Glenn Greenwald

"You!  You made us in the house of pain!   You made us... things!

Not men. Not beasts.  Things!"

H. G. Wells, The Island of Dr. Moreau

 

After the bell Moody's cut Greek bonds to CAA2 with the outlook negative.   Greece is facing the gravest threat to its national sovereignty, even worse than the American supported military regimes of the 'Greek colonels,' since 1941.

Who will be next?   Who can stand against the dark power of the world, and wickedness in high places?   C'est la guerre, sans fin.  Ainsi soit-il.

There was intraday commentary about the Fed's policy statement here.

Ex-accounting gimmicks, the US economy contracted in the first quarter.  The BEA fudged this advance estimate a bit, showing one of the lowest positive numbers possible,  but the economy is obviously teetering on recession driven by stagnant wages, policy errors leading to asset bubbles, and weak aggregate demand.   It is not that people are 'saving too much.'  The problem is that too many people have too little income.

They will show a revision of the truth at some point when no one cares as much about it.  The credibility trap forbids Beltway Washington from being honest critics of their policy and political failures to reform.  
 

I found it amusing that a few minutes after the Fed statement financial TV announced that 'gold was dropping,' and continued with that theme throughout the afternoon, without mention of the dropping dollar or stocks.  

Gold declined from 1210 to 1206 to the dollar.

Reports from The Bucket Shop show that 'deliveries,'  which are the exchange of claim checks, and warehouse movements were relatively quiet.

 

The bankers and financiers will have another shot at managing our perceptions of their own incompetence tomorrow.

 

I am keeping an eye on the upcoming elections in the UK.   As you know Europe and the UK are 'bellwethers' of a sort in my thinking.  

The situation in Greece might be more influential than some would allow.

The political and economic situation in the States is 'simmering.'

Uncle Oligarch, wrapped in the flag, is pushing the TPP with an almost desperate zeal.   It is surprising how many politicians and professionals have been 'rented' by corporate money in support of the cause.  

Smells like teen spirit.

 

Things are unfolding as badly as even a most cynical man might expect, alas. 

And so a group of fools, driven by greed, will push their perceived advantages, blind to the consequences, even to the point of plunging into the abyss.

They see strength and power in numbers, for they are many.

 

Have a pleasant evening.

 

 

 

SP 500 and NDX Futures Daily Charts - Frauds R Us

The GDP number came in fairly awful today, and was more likely outright negative, which may be shown in some future revision.

The Fed, not wishing to panic the herd or cause any uncomfortable questions about both their integrity and their competency to be raised, dismissed the slumping economy, attributing it to 'transitory' phenomena.

All as had been expected. 

They are no longer making policy for the real economy.  They are making it for themselves, and the Banks.

There will be no sustainable recovery until there is substantial and meaningful reform.

And the credibility trap of lies and canards that the professionals have woven will keep them from even discussing the problem frankly and honestly.

And so until then, the policy of plunder will continue, economic inequality will widen, and the gap between the facts and the perceptions will widen, even until it is a chasm.

They gather all knowledge, both good and evil, to themselves, and they would be as gods.

Have a pleasant evening.