Stocks and Precious Metals Charts - Agents of Fortune - Financial Dreadnoughts

 

"The financial system is once again over-leveraged, over-concentrated, fraught with interconnected counterparty risk, and fragile.   This is because of the policy failure of the Treasury and the Fed which could be characterized as extend and pretend, without engaging in significant reforms and law enforcement in the aftermath of what might be best described as a control fraud.

I postulated years ago (2002) that when push came to shove, the Fed would gather around itself a few 'friendly banks' which would act on its behalf in private to enforce certain policy decisions in markets in which the Fed and Treasury do not wish to openly operate.  It is hard to think of any other somewhat moral reason for the government to babysit and subsidize these very expensive and dangerous TBTF monstrosities, except as instruments of policy to provide some degree of freedom to shape events and responses.

If you want to wage a currency war, you need to have some dreadnoughts packing serious financial throw-weight, and economic muscle.  It may be Machiavellian, counter-democratic, and expensive, but that is the diktat of strategy if you want to control things and wield power to do what you will, both at home and abroad.

Is a corollary to the currency war a financial arms race and the construction of institutional behemoths?  I think it might be.   Or it could just be widespread ignorance and corruption amongst the ruling class which certainly is conceivable.  Or some of both.  Why do governments sometimes engage in corporatism?  Take your pick."

Jesse, Financial Dreadnoughts in Times of Currency War,  22 February 2013
 

It was 'risk on' today as bully cast aside his fears and engaged the wash cycle in the markts.

Stocks finished decidedly higher.

VIX dropped sharply back to recent lows.

The Dollar edged higher.

Gold and silver were pressed lower again.

Pretty much the kind of pre-option expiration action we have come to expect.

Have you noticed how economic and financial sanctions and restrictions have become a major component of American policy responses with the Fed and the Banks as key components in controlling markets and impacting trade?

Have a pleasant evening.

Stocks and Precious Metals Charts - No Lie Too Bold, No Fraud Too Petty

 

"There was war in heaven.   Michael and the angels fought against the dragon.   The dragon fought back, but he did not have the power, and so lost his place in heaven.  The great dragon was thrown down – that ancient snake called the devil, or Satan, who leads the whole world astray.   He fell to the earth, and his angels with him.  Then I heard a loud voice in heaven say: ‘Now has come the salvation and the power and the kingdom of our God, and the authority of his Messiah.   For the adversary of our brothers and sisters, who accuses them before our God day and night, has been hurled down."

Revelation 12:7-9

"And he said to them, 'I saw Satan fall, like lightning from the sky.'"

Luke 10:18

"Forsake us not, O Archangel of God, with your help and protection, who glorify your holy name: for even if we are have sinned greatly, we would not perish in our misdeeds, but rather turn to the Lord and be enlivened by Him to good works.

Illumine our minds with the light of God.  Strengthen, by the Lord’s grace, our weak will and infirm intention, and above all, ask for us the spirit of true repentance, unfeigned sorrow before God, and contrition for our sins, so that we may spend the days that remain of this passing life, not in pleasing ourselves and serving our passions, but rather in reparation for the evils we have committed, by tears of faith and heartfelt repentance, by striving for righteousness and holy works of mercy."

Prayer to Michael the Archangel

"Why do you not understand what I am saying?  It is because you cannot bear to hear my words.  You are from your father, the devil, and you willfully carry out your father’s desires.  He was a murderer from the beginning, and he does not stand with the truth, for there is no truth in him.  When he lies, he speaks in accord with his nature, for he is a liar and the father of lies."

John 8:43-44

Stocks of the non-tech variety had a rough day today.

Gold and silver got nailed, probably in honor of the approaching option expirations for the miners.

VIX was up slightly.

The Dollar was also only up marginally, not even recovering the small loss from yesterday.

Whatever the rationales, today looked like a low volume wash and rinse.

The spice must flow.

Have a pleasant evening.

Stocks and Precious Metals Charts - For the Banks - Stock Index Option Expiration on Friday

 

"And so Jesus gave us a new norm of greatness.  If you want to be important—wonderful.  If you want to be recognized—wonderful.  If you want to be great—wonderful.  But recognize that he who is greatest among you shall be your servant.  That's a new definition of greatness.  And this morning, the thing that I like about it: by giving that definition of greatness, it means that everybody can be great, because everybody can serve."

Martin Luther King, The Drum Major Instinct

"Non serviam!  Better to reign in Hell, than serve in Heaven.”

Satan

"The servant carries out the master’s will.  The servant doesn’t tell the master what to do.  The servant does not choose which tasks to perform for the master, nor does the servant suggest days or times when it would be convenient to serve the master.  The servant’s function is to follow instructions.  The master, on the other hand, gives directions.  The master does not tell the servant to develop a vision that will guide the master.  The master is the one with the vision; the servant’s task is to help fulfill the master’s purposes.

We are the servants; God is the Master.  We tend to try to reverse this.  God’s revelation of Himself, His purposes, and His ways depends directly upon our obedience.  He may not reveal today His intentions for the next five years, but He will tell us what our next step should be.  As we respond to God’s revelation, He will accomplish what He desires, and He will be the One who receives the glory.  Our fulfillment comes from serving our master.

The world will encourage you to strive for positions of authority and power.  God wants you to take the role of a servant.  As God’s servant you should have no other agenda than to be obedient to whatever He tells you.  God does not need you to dream great dreams for your life, your family, your business, or your church.  He simply asks for obedience.  He has plans that would dwarf yours in comparison."

Henry Blackaby, Servants of Christ

"God who gave us life gave us liberty.  Can the liberties of a nation be secure when we have removed a conviction that these liberties are the gift of God?  Indeed I tremble for my country when I reflect that God is just, that His justice cannot sleep forever."

Thomas Jefferson Memorial, Northeast Portico

Stocks were drifting lower today, but as is customary managed to find a footing after the European close and drifted higher into the green in very quiet trading.

The Dollar fell.

Gold and silver edged higher.

The VIX remains indifferent.

There will be a stock option expiration on Friday.

The phony drama of the 'debt limit crisis' continues on.

Life imitates big time wrestling.

Have a pleasant evening.