Stocks and Precious Metals Charts - The Empire of Lawlessness

 

"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

"We looked into the abyss if the gold price rose further.  A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake.  Therefore at any price, at any cost, the central banks had to quell the gold price, manage it."

Eddie George, Governor Bank of England, conversation with CEO of Lonmin plc citred in Reg Howe v. BIS, JPM et al. September 1999

"What we see at present is a battle between the central banks and the collapse of the financial system fought on two fronts.  On one front, the central banks preside over the creation of additional liquidity for the financial system in order to hold back the tide of debt defaults that would otherwise occur.  On the other, they incite investment banks and other willing parties to bet against a rise in the prices of gold, oil, base metals, soft commodities, or anything else that might be deemed an indicator of inherent value."

Peter Warburton, The Debasement of World Currency, April 9, 2001 [gold at $259 per oz.]

"Synthetic gold, sourced in pyramids of credit extended to bullion bankers by central banks with little or no claim on physical substance, have provided a more efficient, better-camouflaged form of intervention.  COMEX synthetic gold and related over-the-counter derivatives are traded in macro strategies implemented by hedge funds, high-frequency trades, and commodity funds.  The volumes traded are huge, and bear little resemblance to actual flows of physical metal.  Above-ground 400-ounce .995-gold bars located in London, New York, and other financial capitals have steadily dwindled and disappeared into Asian financial centers, reformulated as .9999 kilo bars."

John Hathaway, Tocqueville Gold Newsletter 2Q 2015

"Time is coming when markets search frantically for physical collateral to find that paper far exceeds underlying collateral for several metals and other resources. I am warning that when markets fall in sustained negative response to bursting bubbles, widespread deleveraging will reveal insufficient hard collateral underlying traded asset-backed securities. The words rehypothecation and hyper-rehypothecation may be rediscovered or remembered again."

Harald Malmgren, 2019

Stocks dipped today, but managed to find a bottom and turn around finishing green into the close.

Gold and silver slumped, ahead of the Comex futures options expiration tomorrow.

The US may be approaching another debt limit standoff.  The deadline for this latest dark comedy is this Saturday.   

The political landscape is discouraging.

 "It can't happen here."

Some lessons of history need to be relearned again. 

"God has a way of standing before the nations with judgement, and it seems that I can hear God saying to America 'You are too arrogant!   If you don't change your ways, I will rise up and break the backbone of your power!  And I will place it in the hands of a nation that doesn't even know my name.   Be still, and know that I am God.'"

Martin Luther King, 1967

The madness serves none but itself.   

Nuts.

Have a pleasant evening.

Stocks and Precious Metals Charts - Monetary Magicians - Gold Flowing Quietly From West to East

 

"Never before has so much debt been imposed on so many people by so few financial operatives--operatives who work from Wall Street, the largest casino in history, and a handful of its junior counterparts around the world, especially Europe.

External sovereign debt, as well as occasional default on such debt, is not unprecedented.  What is rather unique in the case of the current global sovereign debt is that it is largely private debt billed as public debt; that is, debt that was accumulated by financial speculators and, then, offloaded onto governments to be paid by taxpayers as national debt.  Having thus bailed out the insolvent banksters, many governments have now become insolvent or nearly insolvent themselves, and are asking the public to skimp on their bread and butter in order to service the debt that is not their responsibility.

After transferring trillions of dollars of bad debt or toxic assets from the books of financial speculators to those of governments, global financial moguls, their representatives in the State apparatus and corporate media are now blaming social spending (in effect, the people) as responsible for debt and deficit.

Spending on national infrastructure, both physical (such as roads and schools) and social infrastructure (such as health and education) is key to the long-term socioeconomic developments.  Cutting public spending to pay for the sins of Wall Street gamblers is bound to undermine the long-term health of a society in terms of productivity enhancement and sustained growth.

But the powerful financial interests and their debt collectors seem to be more interested in collecting debt claims than investing in economic recovery, job creation or long-term socioeconomic development.  Like most debt-collecting agencies, the IMF and the states serving as banksters' bailiffs through their austerity programs may shed a few crocodile tears in sympathy with the victims' of their belt-tightening policies; but, again like any other debt-collecting agents, they seem to be saying: "sorry for the loss of your job or your house, but debt must be collected--regardless."

A most outrageous aspect of the debt burden that is placed on the taxpayers' shoulders since 2008 is that most of the underlying debt claims are fictitious and illegitimate: they are largely due to manipulated asset price bubbles, dubious or illegal financial speculations, and scandalous conversion of financial gamblers' losses into public liability."

Dr. Ismael Hossein-zadeh, Class War: The Vicious Circle of Debt and Depression, June 7, 2010


"For I desire compassionate mercy, not sacrifice; a faithful knowledge of my ways, more than burnt offerings."

Hosea 6:6

Stocks are slumping pretty hard into the end of the third quarter.

Another failure to rally, going out near the bottom end of the trade.

Gold and silver had a little bounce higher after the Fed Decision Day smackdown.

Next Tuesday the 26th will be a Comex Metals Option Expiration, more significant for gold futures than silver.  But never let it be said that the Wall Street wiseguys are too lazy to steal.

VIX did a daily yo-yo going out near the recent highs.

The Dollar added a little more to its heft.

There may be a tsunami of paper rolling around the world, but gold continues flowing quietly, from West to East.

And as always there comes a day when, as it must, the music stops.

Remember the most important reckoning you will ever face, for your soul.  For that is what this is really all about.

There is only one currency accepted for value at the cambio of heaven.

Saint Michael the Archangel, defend us in battle.  Be our protection against the wickedness and deceptions of the devil.  May God rebuke him, we humbly pray; And may you, Prince of the Heavenly Host, by the power of God, thrust into hell Satan and all evil spirits who wander through the world seeking the ruin of our souls.

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

Have a pleasant weekend.

Stocks and Precious Metals Charts - The Calling - Comex Option Expiration Tuesday 26th

 

“We are slow to master the great truth that even now Christ is, as it were, walking among us, and by His hand, or eye, or voice, bidding us to follow Him.  We do not understand that His call is a thing that takes place now.  We think it took place in the Apostles' days, but we do not believe in it; we do not look for it in our own case."

John Henry Newman

"For your love for me disappears as quickly as a morning mist; it is like the dew, that melts away early in the day.  That is why I have sent my prophets with messages of judgment and destruction, to strike them with the words of My mouth. My judgment illuminates them like lightning. For I desire mercy, and not sacrifice; and their faithful knowledge of my ways, more than their burnt offerings."

Hosea 6:4-6

"As Jesus went on from there, he saw a man named Matthew sitting at the tax collector’s booth. “Follow me,” he told him, and Matthew got up and followed him.  While Jesus was having dinner at Matthew’s house, many tax collectors and sinners came and ate with him and his disciples.  When the Pharisees saw this, they asked his disciples, 'Why does your teacher eat with tax collectors and sinners?'

On hearing this, Jesus said, 'It is not the healthy who need a doctor, but the sick.  But go and learn what this means: I desire mercy, and not burnt offerings.  For I have not come to call the righteous, but sinners.'”

Matthew 9:9-13

"This is how we know who are the children of God and who are the children of the Satan: anyone who does not do what is good is not God’s child, nor is anyone who does not love their neighbor."

1 John 3:10

Today is the commemoration of the calling of Matthew, the tax collector.

The stock panic of the mavens of Wall Street continued today, as their startled reaction to the nothing new from Jay Powell and the Fed on Wednesday continues.

Shameless fakes and dissemblers.    They set up strawmen and then knock them down.

The gap in the SP 500 is still open and just below today's close, which went out at the lows.

Gold and silver took a hit but managed to recover a bit.  Silver showed some strength especially given the sharp selloff in stocks. 

I think the wiseguys are looking to mine some of the physical gold out of the ETFs, so we *might* see the price a little lower, ahead of the Comex metals option expiration of next Tuesday the 26th.  Silver is not involved in the expiration.

VIX shot higher.

The fomenting of hysteria for clicks and tricks continues, unabated.   I have stopped reading the usual conflict entrepreneur websites and most network news.   And I feel better for it.

 Wash-rinse-repeat.

The Dollar chopped sideways and finished higher.

Our visiting relatives were chauffeured by the young man to their cruise ship this morning, as I am still indisposed in my inability to drive.   I included a picture they took from the ship before their departure of the Manhattan skyline from its dock in Bayonne.

More doctor appointments tomorrow. At least they are on top of things. 

Have a pleasant evening.