The Dollar and Gold Diverging

"People can die from an excessive dose of the truth, you know.”

Ariel Dorfman, Death and the Maiden


“Your strength is just an accident arising from the weakness of others.”

Joseph Conrad, Heart of Darkness


"It's probably early days, but now might be the time to start taking precautions against a 2008 class event in the financial markets. I would suggest it might arrive anytime between now and July 2020."

Jesse, Le Cafe Americain, 24 July 2018


"My cyclical calculations and trend forecasts suggest that July 2020 may be a decisive, if not pivotal, period in our time."

Jesse, Le Cafe Americain, 26 February 2019

Stocks and Precious Metals Charts - A Flight to Safety - Non-Farm Payrolls Fails To Stop Gold Haven Buying

Stocks were plummeting on the overnight.  Same old same old.

They plunged much further during the day, with the SP futures down over 100 points.  But as is now often the case they managed to take back a chunk of their losses into the close.

Gold rocketed during the early trade to 1690, in an obvious a flight to safety.

And then the Non-Farm Payrolls Party Crowd just wantonly smashed gold down to 1242, by pretty much dumping contracts into the market to 'run the stops.'

And then, having achieved their objective or more likely run out of energy, the market for gold went back up again to retest the 1690 level.   Wheee!!

If the US markets were not so serious to pension funds, corporations, and investors this would almost be funny, in the manner of the Three Stooges of trading, full of obvious nonsense and shenanigans..


I think that those who still say that there is no manipulation in these markets must have issues of one sort or another.

If the precious metals are not manipulated then they would seem to be the only market that is not, given all the scandals and serial felonies, albeit addressed by wristslaps, over that past fifteen years.

This is not a good way to support a major global industry and serve legitimate companies and customers.   But it does pay off very well for the well connected white collar criminal types, and their enablers.

Next week is next week, but most likely more of the same. I suspect we will keep seeing extreme volatility ahead, as the US financial system continues to come to terms with its own obvious mortality.

Have a pleasant weekend.

Stocks and Precious Metals Charts - And What Rough Beast, Its Hour Come Round At Last...

"Thou shalt not sacrifice any of your children to the fires of Moloch, and thereby profane the name of your Lord, who is God."

Leviticus 18:21


"The perpetrators were scholars, doctors, nurses, justice officials, the police and the health and workers’ administration.

The victims were poor, desperate, rebellious or in need of help. They came from psychiatric clinics and childrens hospitals, from old age homes and welfare institutions, from military hospitals and internment camps.

The number of victims is huge, the number of offenders who were sentenced, small."

Aktion T4 Commemorative Tablet, Tiergartenstraße 4, Berlin

Up 1000 points one day, down 1000 points the next.

This may be the kind of violent action that precedes a serious break in the market, similar to what was seen in early 1929.  It made people dizzy.  Until they became crazy.

The crash is on my mind because Season 3 of Babylon Berlin just ended with scenes from the Berlin stock exchange in October 1929.  It was fairly graphic.

Today we were down on coronavirus fears. Some think that they are just a hoax, a plot to make leaders like Trump and Boris Johnson look bad.

Gold and silver were up sharply. The Dollar continued its slide.

Tomorrow there will be a non-farm payrolls report. It will be 'backward-looking' in the sense that it wil likely not caprure any of th eeconomic imact of the coronavirus quarantines.

On the NY Comex warehouses report it shows the amount of 'pledged' gold is now over 500,000 ounces.

The NY Fed is creating a place on the web for resources to study economic inequality.

This is like the British East India company initiating a study on the negative effects of mercantile colonialism.

The New York Fed is pleased to announce the launch of a hub on Economic Inequality and Equitable Growth. Through this initiative, the New York Fed conducts research to better understand what contributes to economic inequality in its many forms.  With a better understanding of the problem, we look to convene key stakeholders like you to discuss best practices and new strategies to support equitable growth in the region and the nation.  This new web page will house current New York Fed research and analysis, resources from the Federal Reserve System, content from trusted external organizations, and highlight events and forums that promote solutions to make communities more prosperous.

We hope you find the resources on this page beneficial.

People will do what they will do, and believe what they wish to believe.  Generally that which is convenient for them, and flatters them.

Men go mad in herds it is well said, but come back to their senses one at a time.

But until then, they flock to their favorite liars desperately, like addicts in need of a fix of confirming and flattering lies, as a way of avoiding reality.

Have a pleasant evening.