Debate on the Trump-Putin Summit Between Cirincione and Greenwald

The original posting with transcript of this debate between Joe Cirincione and Glenn Greenwald about the Trump-Putin Summit can be found here.

Thomas Frank: The Catechism of Tech, Bank, and Globe, Which Is Nothing But an Excuse For an Out-of-Touch Elite

"Back in 1941, Franklin Roosevelt set down his understanding of American political history, in which there were two schools of political belief.

'The liberal party believed in the wisdom and efficacy of the will of the great majority of the people, as distinguished from the judgement of a small minority of either education or wealth.'

What Roosevelt could not foresee was a party system in which the divide fell not between the few and the many, but between the small minority of education and the small minority of wealth. Enlightened technocrats on one side, and resentful billionaires on the other. Get that great majority back together, and they would be unstoppable."

Thomas Frank

In order to change and regain their party's historical mandate, the Democrats have to abandon their patterns of behaviour adopted and set down in the 1990's.

They may have to get rid of their consultants, and most importantly their methods of fund raising almost exclusively among the professional moneyed class with which they closely identify.

And above all, they must take Hillary Clinton and her class of big money politicians aside, and bid them good luck and goodbye.

They must embrace genuine change,  instead of attempting to imitate reform by continually softening their image with professionally applied makeup, and a cynically thin veneer of identity politics and tribalism.

This is how they have managed to avoid discussing this vast inequality of ours, and addressing, with practical solutions rather reframing the questions with diversionary rhetoric, the slow demise of the long ignored working poor and middle class, which is their traditional base, and their party majority.

Stocks and Precious Metals Charts - On Top of the World - Le Dénouement, à la Chinoise

“On top of the world,
Or in the depths of despair—
Happy alone is the soul that loves."

Johann Wolfgang von Goethe,  Klärchens Lied, aus Egmont

Stocks were on a wild tear higher.

Let's chalk this one up to the words of Fed Chair Jay Powell who sees a strong economy permitting more interest rate increases.

Gold and silver were taken out to the woodshed and beaten lower, with the Dollar slightly higher.

Stocks are putting in another blow off top. Don't try and get in front of them, but this one will end up like the rest.

Our defining character is fraud in the service of Mammon.

And the Deep State is howling a hurricane.

Trumpolini is fortunate in his opposition.  Which is too bad, because he brings out the worst in his followers.  And unfortunately the opposition tries to answer in kind.   Too bad. Darkness cannot defeat darkness.

Little Dolly has been sitting in my lap, shivering with fear, since a cold front bringing thunderstorms has started rolling through. 

As a reminder, there will be a stock options expiration at the end of this week.

And a Comex precious metals option expiration next week on Thursday, the 26th.

The struggle to cover the physical gold withdrawals from the Hong Kong Comex listed warehouses continues. Not to mention the less visible, like Singapore.

There is certainly nothing happening with the gold warehouses in New York.  It is locked down tight, like a morgue.

Gold is flowing from West to East. It is the most striking phenomenon of modern monetary developments. And yet so few see it, and fewer remark on it.

Smells like teen spirit. Or is that desperation? The price action tells us something. What is it?

This is quite a wild party being thrown for us by the elite—   a bonfire of the vanities, we suspect. Part three, le dénouement.

And they all fall down.

Need little, want less, love more. For those who abide in love abide in God, and God in them.

Have a pleasant evening.