"The problem with movies and books is they make evil look glamorous, exciting, when it's no such thing. It's boring and it's depressing and it's stupid. Criminals are all after cheap thrills and easy money, and when they get them, all they want is more of the same, over and over. They're shallow, empty, boring people who couldn't give you five minutes of interesting conversation. Maybe some can be monkey-clever, some of the time, but they aren't hardly ever smart."
Dean Koontz
If one compares the US monetary base per capita vs the price of gold in US dollars, we can see a historical relationship that diverges for long periods of time, but always seems to return to a closer relationship during periods of financial stress.
This is the case that some might make for gold with a price target of $5,000 per oz., which the potential to spike as high as $12,000.
Personally I hope we do not see financial stresses that drive the price of gold to that higher level.
"The woods decay, the woods decay and fall,
The vapours weep their burthen to the ground,
Man comes and tills the field and lies beneath,
And after many a summer dies the swan."
Alfred Lord Tennyson, Tithonus
And unwilling to take a back seat in July, we saw a big 3,000 contracts of July gold stopped on the Comex yesterday as noted on the report below. As seems to be the case these days, the gold contracts came out of the HSBC house account, and were taken up by the usual suspects.
This will be a three day holiday weekend in the States. Please try to carry on.
And below is a brief video of the theme song of an old television show that I watched regularly in its day, quite precocious taste for a ten year old now it seems. But then again, there were only three black and white television stations then, so even contemporary British humour could find an audience. And like so many other British hits, in the manner of Snakes and Ladders as Chutes and Ladders, it did spawn a tamed down American version as I recall.
And of course there were always those first late night stalwarts of early television, the Tonight Show with Jack Paar, Your Show of Shows with Sid Caesar, Ernie Kovacs, and The Steve Allen Show. Hi ho, Steverino.
Old age is like being a time traveler, but in slow motion. And all that is happening now is starting to feel like Summer reruns from the 1930s.
And so, ladies and gentlemen, as the Irish story teller David Allen used to say, "Good night, thank you, and may your God go with you."
"Peter. Verily, verily, I say to you, when you were young, you dressed yourself, and walked where you liked: but when you are old, you will stretch forth your hands, and another will gird you, and carry you where you would not wish to go."
Since the adults all seem to be leaving Wall Street early today to get a head start to the Hamptons, I will just post the charts as they are now and catch up on any late changes next week.
As a reminder, the US will be celebrating the 4th of July holiday on Monday.
Have a pleasant weekend.
The mighty rise and are fallen, but the word and the spirit endure.
Let us pray for those whose hearts are hardened against His grace and loving kindness by greed, fear, and pride, and the seductive illusion and crushing isolation of evil.
We pray that we all may experience the three great gifts of our Lord's suffering and triumph: repentance, forgiveness, and thankfulness. And in so doing, may we obtain abundant life, and with it the peace that surpasses all understanding.
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