Gold Daily and Silver Weekly Charts - Nothing New

"This disposition to admire, and almost to worship, the rich and the powerful, and to despise, or, at least, to neglect persons of poor and mean condition, though necessary both to establish and to maintain the distinction of ranks and the order of society, is, at the same time, the great and most universal cause of the corruption of our moral sentiments.

That wealth and greatness are often regarded with the respect and admiration which are due only to wisdom and virtue; and that the contempt, of which vice and folly are the only proper objects, is often most unjustly bestowed upon poverty and weakness, has been the complaint of moralists in all ages.

We desire both to be respectable and to be respected. We dread both to be contemptible and to be contemned. But, upon coming into the world, we soon find that wisdom and virtue are by no means the sole objects of respect; nor vice and folly, of contempt."

Adam Smith, Theory of Moral Sentiment

אֵין כָּל חָדָשׁ תַּחַת הַשָּׁמֶשׁ

Nihil sub sole novum.

There is nothing new under the sun.

Ecclesiastes 1:9

Their is surely nothing new under the sun, except those who are called and will be held accountable for their labor, under it.

 

Our moderns believe that they have learned to lie, to cheat, and to kill with unsurpassed skill, cleverness, and shamelessness.  

 

They have discovered their will to power.  Or perhaps, the will to power has discovered them.  

 

They think that they have gained some impunity, and have risen above humanity to become as gods.

 

This week will see the last of the May contracts, and the beginning of the active month of June for gold.

Have a pleasant evening.

 

 

 

 

SP 500 and NDX Futures Daily Charts - First and Last

“There was a certain rich man who was splendidly clothed in purple and fine linen and who lived each day in luxury. 20 At his gate lay a poor man named Lazarus who was covered with sores. As Lazarus lay there longing for scraps from the rich man’s table, the dogs would come and lick his sores.

“Finally, the poor man died and was carried by the angels to be with Abraham. The rich man also died and was buried, 23 and his soul went to the place of the dead. There, in torment, he saw Abraham in the far distance with Lazarus at his side.

“The rich man shouted, ‘Father Abraham, have some pity! Send Lazarus over here to dip the tip of his finger in water and cool my tongue. I am in anguish in these flames.’

“But Abraham said to him, ‘Son, remember that during your lifetime you had everything you wanted, and Lazarus had nothing. So now he is here being comforted, and you are in anguish. And there is a great chasm separating us. No one can cross over to you from here, and no one can cross over to us from there.’

“Then the rich man said, ‘Please, Father Abraham, at least send him to my father’s home. 28 For I have five brothers, and I want him to warn them so they don’t end up in this place of torment.’

“But Abraham said, ‘Moses and the prophets have warned them. Your brothers can read what they wrote.’

“The rich man replied, ‘No, Father Abraham! But if someone is sent to them from the dead, then they will repent of their sins and turn to God.’

“But Abraham said, ‘If they won’t listen to Moses and the prophets, they won’t be persuaded even if someone rises from the dead.’”

Luke 16:19-31

 

And so it was then, and is now.

Was yesterday's sharp downdraft in equities just another rinse day in the land of fools and grifters?

 

The global economy has become a deception and then a farce, which will end in tragedy. 

 

And this is because of the greed and self-delusion of a shameless few and their enablers, whose foolishness would make even the angels tremble.

 

It would have been better for them if they had never been born.

Have a pleasant evening.

 

 

 

 

 

 

Gold Daily and Silver Weekly Charts - How Unusual: Precious Metals Hit on Option Expiration

"Certainly there were many others as reprehensible and irresponsible as those who played the leading roles. The German people were the victims. The battle, as one who survived it explained, left them dazed and inflation-shocked.    They did not understand how it had happened to them, and who the foe was who had defeated them."

Adam Fergusson, When Money Dies: The Nightmare of the Weimar Collapse

June is a big, active month for gold on the Comex.

And today was the option expiration for the precious metal June contracts.

Le voilà, comme prévu.

What else might we have expected?  Honesty?  Price discovery?  A market clearing price between users and suppliers?  

These are markets that have been willfully overwhelmed and misdirected by speculation.  There are no fundamentals in The Bucket Shop, just what is essentially full time market rigging, with little to no product changing hands between long term investors and suppliers.

And similarly, like healthy nourishment in a snack cake, so there is still little to no recovery in The Recovery™.  

When the reckoning for this protracted folly and organized plunder finally comes, they will all be so amazed.

 

It is so very modern to think that things are just as we say they are, because we say so.  And nowhere is this psychosis more apparent than in modern economics and money.  

 

 It is the ultimate tyranny of selfishness and egoism, and will last as long as the masters can keep extending their power and their will, crushing all dissent and all others in their path,

 

And then comes the downfall, the sickening plunge, and the moment of terrible lucidity when the music stops.  And the illusion dies.

Have a pleasant evening.