Stocks and Precious Metals Charts - Sic Semper Inanitas - Slouching Into the Payrolls Report

 

"Gold has worked down from Alexander's time.  When something holds good for two thousand years I do not believe it can be so because of prejudice or mistaken theory."

Bernard Baruch

"The commerce and industry of the country, however, it must be acknowledged, though they may be somewhat augmented, cannot be altogether so secure, when they are thus, as it were, suspended upon the Daedalian wings of paper money, as when they travel about upon the solid ground of gold and silver."

Adam Smith, Wealth of Nations, p. 262

"Gold is unique among assets, in that it is not issued by any government or central bank, which means that its value is not influenced by political decisions or the solvency of one institution or another."

Salvatore Rossi, Chief of the Central Bank of Italy, 30 Sept 2013

"There can be no other criterion, no other standard than gold. Yes, gold which never changes, which can be shaped into ingots, bars, coins, which has no nationality and which is eternally and universally accepted as the unalterable fiduciary value par excellence."

Charles De Gaulle, February 4, 1965

"Specie [gold and silver] is the most perfect medium because it will preserve its own level, because, having intrinsic and universal value it can never die in our hands, and it is the surest resource of reliance in time of war."

Thomas Jefferson, Letter to John Wayles Eppes, 6 November 1813

“Those entrapped by the herd instinct are drowned in the deluges of history.  But there are always the few who observe, reason, and take precautions, and thus escape the flood.  For these few gold has been the asset of last resort.”

Antony C. Sutton


Stocks were in risk on rally mode today.  

And the spokesmodels with fluttering pom-poms were cheering them on.

AI, AI, hear our cry,  V - I -C - T - O - R - Y

VIX fell to its multiyear low.

Gold and silver rallied, going out near the highs.

The Dollar fell sharply.

What's wrong with this picture?

Let's see how the Non-Farm Payrolls report prints tomorrow.

And how the markets choose to take it.

Its really not about the economy anymore, it's all about the Fed.

That's because as the sum of their policy errors and abuses, the Fed has become the market.

Have a pleasant evening.

Stocks and Precious Metals Charts - Shall We Stop This Bleeding?

 

"Let your love be sincere; hate what is evil, hold on to the good; love one another with mutual affection; show respect to one another in good manner.  Do not fall away in your commitment, be faithful in spirit, and above all serve the Lord.  Rejoice in hope, endure in troubles, persevere in prayer.  Contribute to the needs of the faithful, and show kindness to strangers.  Bless those who trouble you, bless and do not curse them.  Rejoice with those who rejoice, weep with those who weep.  Live peacefully with one another; do not be arrogant but count yourself among the humble; do not think that you know more than the rest."

Romans 12:9-16

“Every war when it comes, or before it comes, is represented not as a war but as an act of self-defense against a homicidal maniac.  In our time political speech and writing are largely the defense of the indefensible.  But if thought corrupts language, language can also corrupt thought.  All the war-propaganda, all the screaming and lies and hatred, comes invariably from people who are not fighting.

Political language is designed to make lies sound truthful and murder respectable, and to give an appearance of solidarity to pure wind.  War against a foreign country only happens when the moneyed classes think they are going to profit from it.  Nationalism is power hunger tempered by self-deception.

We have now sunk to a depth at which restatement of the obvious is the first duty of intelligent men.  If liberty means anything at all, it means the right to tell people what they do not want to hear.  In times of universal deceit, telling the truth will be a revolutionary act.”

George Orwell, Facing Unpleasant Facts: Narrative Essays

"Then it will be God without disguise; something so overwhelming that it will strike either irresistible love or irresistible horror into every creature.   It will be too late then to choose your side.   That will not be the time for choosing: it will be the time when we discover which side we really have chosen, whether we realised it before or not."

C. S. Lewis, Mere Christianity


At the heart of all chaos and disorder is money, and the lust for the power it may bring to the unscrupulous, at the horrific expense and deprivation of many.

The towering pride of a grasping few spreads a dark taint through the pages of history.

As old as Babylon, and evil as sin. 

The debt limit political charade continues chugging along.

It is a way to try and shift the burden of the enormous tax cuts for the wealthy, and outrageous miiitary spending, to the weak and the disadvantaged. 

It is more of a bipartisan effort than you might otherwise imagine, although there is clearly a heart of darkness at the root of it.

Stocks slumped.

Primarily it may seem on the weak economic news out of China.

Recession is coming.

Gold and silver rallied sharply, primarily I think as a technical response to the price suppression hangover from the recent Comex option expiration.

VIX and the Dollar chopped sideways.

Most people are uninformed about the 'White House Coup' of 1933.  You will tend not to see it in any American history books, and the status quo of academics ignores or discredits the evidence.

I have included a brief video history of it below as a reminder.

So often war and disorder is spread by those who are in service to darkness in high places and, so they think, themselves.  The average decent person cannot even begin to grasp the enormity of their crimes and their willful indifference to the consequences of their deceptions.

But as they, to their ultimate horror, will discover, the madness serves none but itself.

Have a pleasant evening. 

Stocks and Precious Metals Charts - Hellbound - Non-Farm Payrolls on Friday

 

"You put away the light, yourselves; you first pluck out both your own eyes, yourselves; and after that other men’s too, so that the blind may lead the blind, until you both fall into the pit.”

Thomas More, The Sadness of Christ

"Market fundamentalism has its own economic orthodoxy that, for the most part, is unquestioningly accepted.  It is an idolatrous religion, because it makes a god out of the Market.  It puts money above all else.   This religion has its own high priests, those economic advisors, corporate executives, and government officials who make the rules and oversee the functioning of the economic system as a whole.   It has its own saints, people who have attained the success that the system promises."

Sharon Delgado, Shaking the Gates of Hell

"No one today likes truth: utility and self interest have long ago been substituted for truth.  We live in a nightmare of falsehoods, and there are few who are sufficiently awake and aware to see things as they are.  Our first duty is to clear away illusions and recover a sense of reality.  To recover a sense of reality is to recover the truth about ourselves and the world in which we live, and thereby to gain the power of keeping this world from falling apart."

Nikolai Alexandrovich Berdyaev

"It does not matter how small the sins are, provided that their cumulative effect is to edge the man away from the Light and out into the Nothing.  Indeed the safest road to Hell is the gradual one—the gentle slope, soft underfoot, without sudden turnings, without milestones, without signposts."

C.S. Lewis, The Screwtape Letters

 

Stocks came in blasting higher on the news of a potential debt limit deal.

And then through the day they faded with the practicalities of getting a solution through the Congress.

Gold and silver were slugged as usual, but they turned around with gold finishing very positive and silver almost unchanged.

There was a strong divergence from the metal and the miners.

A number of the heavy hitters are going ex-dividend this week.

Non-Farm Payrolls on Friday.

Have a pleasant evening.