Stocks and Precious Metals Charts - The Delusions of the Exceptional

"For the worldly reasoned unsoundly, saying to themselves, ‘Short and sorrowful is our life, and there is no remedy when a life comes to its end, and no one has been known to return from death.  For we were born by mere chance, and hereafter we shall be as though we had never been...

We'll oppress the poor, even if they are righteous.  We'll show no respect for widows or old people.  We'll call ourselves in the right if we are strong enough to get what we want.  No one ever succeeded by being weak. 

Righteous people are nothing but a nuisance, so let's try to get rid of them. We can't tolerate people like that; what they are contradicts our entire way of thinking.

They are not like other people; they have strange ways.  They think that our morals and ideas are so corrupt that everything we do should be avoided.  They say that they have God for their Father, and believe that when all is said and done, only the righteous will be happy.  But we'll see if that's true.   

So let's inflict them with suffering.  We'll be cruel and torment them; then we'll see how calm and reasonable they are.  We'll find out just how much they can withstand.   We'll condemn them to a shameful death.  After all, they say that God will protect them.'

That is how worldly people think, but they are wrong.  They are blinded by their own wickedness.  They have never known God's ways, never worked for the rewards of a holy and blameless life."

Wisdom 2:1-2,10-21

"The social principles of Christianity preach cowardice, self-contempt, abasement, submission, humility, in a word all the qualities of the rabble, and the proletariat, which will not permit itself to be treated as rabble, needs its courage, its self-confidence, its pride and its sense of independence even more than its bread. The social principles of Christianity are cowardly and hypocritical, and the proletariat is revolutionary.”

Karl Marx, Deutsche-Brüsseler-Zeitung, September 12, 1847

"The church, quite naturally, is mobilizing everything and everyone against me.  The Führer has always shielded my consistent stance [occult neo-paganism] over the years, to the extent he could do so, given his position.  Now, with a laugh, he repeatedly emphasized that he has been a pagan all along, and the time has come when the Christian poisoning is approaching its end.  These remarks have remained secret, but recently a Berlin society woman has been proudly gossiping about them."

Jürgen Matthäus and Frank Bajohr, Political Diary of Alfred Rosenberg, p. 36, 2015

“Religion used to be the opium of the people.  To those suffering humiliation, pain, illness, and serfdom, religion promised the reward of an after life.  But now, we are witnessing a transformation: a true opium of the people is the belief in nothingness after death, the huge solace, the huge comfort of thinking that for our betrayals, our greed, our cowardice, our murders, we are not going to be judged.”

Czeslaw Milosz, Discreet Charm of Nihilism

 

Stocks dropped as the grudging realization that the Fed is most likely to only cut rates a few times this year, and later than expected, finally managed to sink in.

But don't think that they won't rally stocks again at some later date, based on the same old lies.

They just pretend to be sincere.  Its the fashionable thing amongst frauds and liars these days.

People who imagine they are exceptional become exceptionally good liars with time.  They benefit from the practice of lying to themselves, constructing well rehearsed justification stories for whatever illusion they wish to support and promote.

They sometimes just want to say it, to reinforce their own exceptionalism, subjecting those around them to very ardent lectures that most bear up with patiently, preferring to say good day, and good by. 

Why do people do this?   Especially if they are true believers in some thing?  This goes for both the left and the right, who at their extremes start sounding just like each other.  So bitter adversaries, and even victims and their oppressors, can start taking on each other's forms.

Maybe they are just talking to themselves, putting forth didactic lectures from the echo chamber of their obsessive intransigence.  

Gold and silver rallied and then backed off a bit.

We are heading into an FOMC meeting next week, and  a Comex metals expiration on the 26th.

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 - At the Gates of Hell

"The gates of Hell are terrible to behold, are they not?  The lofty mind of man can be imprisoned by the artifices of its own making.   If there are damned souls in Hell, it is because men blind themselves."

E.A. Bucchianeri, Faust: My Soul Be Damned for the World

"If at the start this cancerous growth in the nation was not particularly noticeable, it was only because there were still enough forces at work that operated for the good, so that it was kept under control.   As it grew larger, however, and finally in an ultimate spurt of growth attained ruling power, the tumor broke open, as it were, and infected the whole body."

The White Rose, Second Leaflet, Munich 1942

"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

"Not everyone who says to me, ‘Lord, Lord,’ will enter the kingdom of heaven, but the one who does the will of my Father who is in heaven.  On that day many will say to me, ‘Lord, Lord, did we not prophesy in your name, and cast out demons in your name, and do many mighty works in your name?’  And then will I declare to them, ‘I never knew you; depart from me, you servants of lawlessness.’"

Matthew 7:21-23

"He prompts you what to say, and then listens to you, and praises you, and encourages you.  He bids you mount aloft.  He shows you how to become as gods.  Then he laughs and jokes with you, and gets intimate with you; he takes your hand, and gets his fingers between yours, and grasps them, and then you are his."

J.H.Newman, The Times of Antichrist

The economic data came in hot this morning, and so the wash and rinse cycle switch to 'rinse.'

Stocks fell.

Interest rates and the Dollar rallied.

Gold and silver fell.

Stock option expiration tomorrow.

Fed rate meeting next week. 

Have a pleasant evening.

Stocks and Precious Metals Charts - Safe Havens and Stores of Value

 

“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, historian

"When a government overvalues one type of money and undervalues another, the undervalued money will leave the country or disappear from circulation into hoards, while the overvalued money will flood into circulation."

Gresham's Law

"'We didn't truly know the dangers of the market, because it was a dark market,' says Brooksley Born, the head of an obscure federal regulatory agency -- the Commodity Futures Trading Commission [CFTC] -- who not only warned of the potential for economic meltdown in the late 1990s, but also tried to convince the country's key economic powerbrokers to take actions that could have helped avert the crisis.  'They were totally opposed to it,' Born says.  'That puzzled me.  What was it that was in this market that had to be hidden?'"

PBS Frontine, The Warning


"You have to choose between trusting to the natural stability of gold and the natural stability and intelligence of the members of the government. And with due respect to these gentlemen, I advise you, as long as the capitalist system lasts, to vote for gold."

George Bernard Shaw


"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 M. Baruch

"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

"Gold will be around, gold will be money when the dollar and the euro and the yuan and the ringgit are mere memories."

Richard L. Russell

"Like liberty, gold never stays where it is undervalued."

J. S. Morrill, historian

"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. The volumes traded are huge, and bear little resemblance to actual flows of physical metal.   Demand for physical gold has exceeded new mine supply for several years running; and while above-ground 400-ounce .995-gold bars located in London, New York, and other financial capitals (in cohabitation with speculative trading activity in paper markets) have steadily dwindled and disappeared into Asian financial centers reformulated as .9999 kilo bars."

Tocqueville Newsletter, 2Q 2015

"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, Central Bank of Italy, 30 Sept 2013

“Gold is money.  Everything else is credit.”

John Pierpont Morgan, 1912


And this is why the central banks are quietly buying it, in size, and why gold has been steadily flowing from West to East. 

Stocks fell off a bit, as the rinse cycle in the latest wash and rinse kicked in.

Gold rallied, silver rocketed.

The Dollar was the usual chop.

VIX is seriously underrepresenting risks.

PPI tomorrow.

Fed next week.

This is like watching a train wreck in slow motion, memories of the asset bubbles of 1999. 

Have a pleasant evening.