Stocks and Precious Metals Charts - We Are the World

"The shepherd drives the wolf from the sheep's throat, for which the sheep thanks the shepherd as his liberator, while the wolf denounces him for the same act as the destroyer of liberty."

Abraham Lincoln

Cohn and McMaster had a press conference today, to discuss the President's upcoming trip to the World Economic Forum in Davos, where he will meet with billionaires, their courtiers in the media and the academy, and some world leaders such as Benjamin Netanyahu and Theresa May.

This Davos forum is a gathering of the economic elite, and not necessarily of government functionaries, although with corporatism becoming more fashionable, it seems that the two will be increasingly one. Trump is the first American president to attend this gathering.

When asked about the framing of the 'America First' campaign slogan, Treasury Secretary Cohn said that it is 'America first, but not alone.' America is 'open for business.' And to that end the Trump admin slapped a 30% tariff on imported solar panels.

And Gary Cohn added that what was good for America is good for the rest of the world. I imagine this echoes his endorsement of the 'trickle down' theory which he

And there you have it.

As a bit of trivia, I have been to Davos, many years ago.  I often traveled to Switzerland over the years, for international standards meetings at the UN in Geneva at first, and then later for business conferences with our European customers and salespeople in places like Davos, Zurich and Zermatt.

Speaking of what's good for America, or at least for those elite Americans that count in the modern economic order of things, stocks continued upwards, as the riskiest of risk on markets continues to push to new highs, shrugging off any and all concerns with its 'rampant optimism' as the spokesmodels like to couch it.

Gold and silver caught a bid today on dollar weakness, as Uncle Buck cracked down through the 90 level on the DX index, finishing up around 89.90.   You may have noticed that the stock charts for the dollar that I post are initially a day behind, and then get updated to include today's action later on in the evening.  This is because of a lag that Stockcharts has in updated that particular pricing.  I watch it on my CME futures feed but don't generate my own chart for it.

As previously noted there will be a Comex precious metals options expiration on Thursday.

Have a pleasant evening.

"He makes the rules and he intends to keep it that a'way,
What's good for General Bullmoose, is good for the USA."

Stocks and Precious Metals Charts - Comex Options Expiration on Thursday, 25 January

"As you simplify your life, the laws of the universe will be simpler; solitude will not be solitude, poverty will not be poverty, nor weakness weakness."

Henry David Thoreau

One might observe that Senator Chuck Schumer caved in rather easily to McConnell and the White House, who are not particularly adept. And they may be right.  One cannot take a stand against hard opposition unless they have the anchor of strong first principles on which to gain a foothold.

And seeing their victory, stocks went on a tear higher setting new records across the board. The moneyed interests win again.

On to Davos, where the elite meet to eat.  I wonder who is on the menu?

Gold was up slightly on the dollar weakness, and silver moved sideways.

There will be an option expiration on the Comex this Thursday 25 January. I have included the options calendars for the futures options below.

Have a pleasant evening.

Stocks and Precious Metals Charts - Ship of Fools

"Imagine then a fleet or a ship in which there is a captain who is taller and stronger than any of the crew, but he is a little deaf and has a similar infirmity in sight, and his knowledge of navigation is not much better. The sailors are quarreling with one another about the steering––every one is of the opinion that he has a right to steer, though he has never learned the art of navigation and cannot tell who taught him or when he learned, and will further assert that it cannot be taught, and they are ready to cut in pieces any one who says the contrary."

Plato, Republic, 'Ship of Fools'


“In an ever-changing, incomprehensible world the masses had reached the point where they would, at the same time, believe everything and nothing, think that everything was possible and that nothing was true. ... Mass propaganda discovered that its audience was ready at all times to believe the worst, no matter how absurd, and did not particularly object to being deceived because it held every statement to be a lie anyhow.

The totalitarian mass leaders based their propaganda on the correct psychological assumption that, under such conditions, one could make people believe the most fantastic statements one day, and trust that if the next day they were given irrefutable proof of their falsehood, they would take refuge in cynicism; instead of deserting the leaders who had lied to them, they would protest that they had known all along that the statement was a lie and would admire the leaders for their superior tactical cleverness.”

Hannah Arendt, The Origins of Totalitarianism


"Ship of fools on a cruel sea, ship of fools sail away from me.
It was later than I thought when I first believed you,
Now I cannot share your laughter, ship of fools."

Jerry Garcia and Robert Hunter, Ship of Fools

Today was options expiration and stocks had an upward drift and chop through most of the day, finally finishing in the green.

Gold and silver caught a bid, but remained stubbornly below overhead resistance.

The Dollar tried to rally, and did get to keep a little bit from what it had lost yesterday.

What are the odds of a government shutdown? The markets do not seem to care.  The financiers are utterly self-absorbed, and thereby going forward with eyes done, with no care for what approaches over the horizon.

Remember to care for the poor, both in body and in spirit.  Pray for your brothers and sisters, as each one bears their own hardships.  And remember to feed His little ones—  of all kinds, including yourself.

Have a pleasant weekend.