Stocks and Precious Metals Charts - City of Darkness, Children of Light

 

“The essence of a speculative bubble is a sort of feedback, from price increases, to increased investor enthusiasm, to increased demand, and hence further price increases.  Major speculative bubbles, as I argued in Irrational Exuberance, are always supported by some superficially plausible popular theory that justifies them, and that is widely viewed as having sanction from some authority figures.  These may be called new-era theories.”

Robert Shiller

"When power is not attentive to justice it cannot endure. The market ideology is now the new form of imperial power and many of us, without any critical reflection, have signed onto that and organized our lives in that way."

Walter Brueggemann, Truth Speaks to Power, 2013

"Greed is not good. Greed is a disease, an aberration of simple honest ambition and necessary provision taken to excess. This simple distinction may be lost on a people no longer able to distinguish between virtue and sin, honor and expediency, appetite and gluttony, the means and the ends.

Every great religion, every school of philosophy has cautioned throughout history on the perils of unbridled and unregulated greed.  And yet this generation would make a god of it, although they may not understand, or care, what it is that they are doing, and whom it is they serve.

Greed, often in company with hubris and fear, is a handmaiden of the corrupting influence of power and triumph of the will.  Greed is contagious, and attacks the very contentment of society at its heart, turning it towards oligarchy and oppression.  What the US has today is not market capitalism that predominantly rewards the merits and work of individuals, but a system of fraud and plunder by privileged oligarchs masquerading as fair and honest markets of legitimate valuation and price discovery."

Jesse, Greed Is Not Good, 19 December 2010

"The most important problem in the world today is your soul, for that is what the struggle is about."

Fulton J. Sheen

Equity trading tomorrow will be light ahead of the Christmas holiday weekend.

The bond market will close early at 2 PM.

Stocks bounced back after yesterday's 'technical' selloff.

The Dollar declined.  

VIX marked time but remained rather complacent.

Gold and silver rallied.

The Gold futures continuous contract is very obviously pinned against the stiff resistance at $2060, extending up to $2080.

I would expect the banksters to continue to put up resistance as they have done so in the past.

IF gold can break 2080 it could go on a run higher to some reasonable chart pattern projection, and markedly higher.  

This is what the Western financial system and their highly leveraged paper gold pyramid scheme fears. 

As a word of caution, it has been some time ksince the grip that the Western banking powers have not failed to meddle in the precious metals market.

The Incarnation is the reason for the season.

Have a pleasant evening.

Stocks and Precious Metals Charts - Ghosts of Bubbles Past - Yulletide Wash and Rinse

 

“You are fettered,” said Scrooge, trembling. “Tell me why?”

“I wear the chain I forged in life,” replied the Ghost. “I made it link by link, and yard by yard; I girded it on of my own free will, and of my own free will I wore it. Is its pattern strange to you?” Scrooge trembled more and more.

“Or would you know,” pursued the Ghost, “the weight and length of the strong coil you bear yourself? It was full as heavy and as long as this, seven Christmas Eves ago. You have laboured on it, since. It is a ponderous chain!..."

“But you were always a good man of business, Jacob,' faltered Scrooge, who now began to apply this to himself.

Business!' cried the Ghost, wringing its hands again. "Mankind was my business; charity, mercy, forbearance, and benevolence, were, all, my business. The deals of my trade were but a drop of water in the comprehensive ocean of my business!”

Charles Dickens, A Christmas Carol

"The people who walked in darkness have seen a great light; those who dwelt in a land of deep darkness, on them a light has shined."

Isaiah 9:1


After reaching new highs and the pinnacle of another vaporous overbought risk bubble, stocks sold off hard this afternoon.

Wash and rinse complete.

Ho, ho, ho.

Gold and silver sold, while the Dollar rose.

VIX rebounded strongly from its recent supine levels.

It never ends.   

Have a pleasant evening.

Stocks and Precious Metals Charts - Who Could See It Coming

 

"The money of vested interests nullifies genuine voter choice and trust. The democracy gap in our politics and elections spells a deep sense of powerlessness by people who drop out, do not vote, or listlessly vote for the least worst every four years and then wonder why after every cycle the least worst gets worse.

We’re told that we’re a polarized society, right?   And, sure, there are differences between the Left and the Right over reproductive rights, school prayer, gun control, government regulation, and now, immigration.

That’s the way the ruling classes have manipulated people for more than two thousand years: divide and rule.  

The only difference between the Republican and Democratic parties is the velocities with which their knees hit the floor when corporations knock on their door."

Ralph Nader, Crashing the Party, 2007

“Evil when we are in its power is not felt as evil, but as a necessity, or even a duty."

Simone Weil

"The transnational corporations and the money markets have declared the era of human-designed regulations over. Now the market must reign. Because few people in the business community are paid to think about phrases such as 'western civilization,' they don't seem to realize that they are proposing the arbitrary denial of 2,500 years of human experience.

Ever since the democratic systems permitted their various courts to give corporations the status of persons, the individual as citizen has been on the defensive. How could it be otherwise? If you are a person before the law and Exxon or Ford is also a person, it is clear that the concept of democratic legitimacy lying with the individual has been mortally wounded.

If allowed to run free of the social system, capitalism will attempt to corrupt and undermine democracy, which is, after all, not a natural state.

It could be argued that we are now in the midst of a coup d’état in slow motion. Democracy is weakening; few people would disagree. Corporatism is strengthening; you only have to look around you. Yet none of us has chosen this route for our society, in spite of which our elites quite happily continue down it. Certainly corporatism is creating a conformist society. It is a modern form of feudalism. Capitalism was reasonably content under Hitler, happy under Mussolini, very happy under Franco and delirious under General Pinochet."

John Ralston Saul 

 

Quiet holiday trading with an upward bias, check.

Most of the adults already left for vacation, check.

Gold and silver bounced higher, as the Dollar declined, check.

The Fed heads are trying to dampen the misconceived story of rate cut heaven with a soft landing next year, and no one is listening, check.

Complacency reigns as multiple wars rage, check. 

Control frauds simmering through the financial districts, searching for greater fools, check.

Another Hobson's choice [the necessity of accepting one of two equally objectionable alternatives] on deck for the presidential election next year, check. 

A myopic, self-absorbed elite that cannot seem to see anything other than winning, check.

Sooner or later, everyone sits down to a banquet of consequences.

Who could have seen it coming.

If we are not too busy with ourselves, fighting and kicking and knocking down the other guy to get something we probably don't need, if we look in quiet places and in the little common but endearing things in life, and yes, even while in the midst of heartbreak and suffering, we can see glimpses of the face of God and his angels, and his loving kindness and tender mercies.

Love is moving, all around us.

Time to come home.

Have a pleasant evening.