Thomas Frank Explains Why Hillary May Talk Reform, But Will Never Be a Reformer

"The hypocrite's crime is that he bears false witness against himself. What makes it so plausible to assume that hypocrisy is the vice of vices is that integrity can indeed exist under the cover of all other vices except this one. Only crime and the criminal, it is true, confront us with the perplexity of radical evil; but only the hypocrite is really rotten to the core."

Hannah Arendt

"Those who are able to climb up the ladder will find ways to pull it up after them, or selectively lower it down to allow their friends, allies, and kin to scramble up. In other words: 'who says meritocracy says oligarchy.'"

Chris Hayes

The DNC is an arm of the Clinton wing of the Democratic Party.

Hillary is a neo-liberal on economics, and a neo-con on foreign policy.

She and her crowd are masters of spin and the management of popular perception.

I think Frank and Scheer are being far too kind.

The politicians and bankers know exactly what they are doing.

They are not deluded, or simply mistaken; they simply do not care.

Gold Daily and Silver Weekly Charts - So Far So Good

Gold and silver caught some legs to the upside today after the Fed did nothing.

The markets suspect that the Bank of Japan will be announcing something that sounds like 'helicopter money' on Friday, which will continue to boost the global liquidity depending on what they do.

Another day or two of upside for the metals and we may be getting that 'up, up, and away' action that we discussed last week.

We have an intermediate inverse head and shoulders working, and if it breaks out it signals 1450 as a minimum objective, against the cup and handle longer term target of 1490.

Silver is just a beast, explosive to the upside.

It turns out that the DNC had been warned some time ago that their servers were vulnerable to hacking, and they chose to do nothing about it.   I suppose that is consistent with Hillary's Luddite approach to tech security for her own State Department emails.

Let's see if gold and silver can hold on to these gains and add enough to stick a close in the breakout territory that lasts.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Risk On As the Fed Coos Short Term Dovishness

Stocks caught a serious bid after the Fed announced they were doing nothing today.

They did change some of their wording, with the intent of smoothing the way for a possible rate hike in September.

That is getting a little close to the election, but I think that all things considered they have one more rate hike in their bag of tricks, and if not September then December, but that delay adds risks of missing the opportunity.

After the bell Facebook beat its numbers adding further fuel to big tech which was leading the way higher today compliments of Apple.

Have a pleasant evening.