03 June 2024

Stocks and Precious Metals Charts - They Thought They Were Free - Uncommitted in Babylon

 

"Empires have always succumbed to the same disease. With each new conquest, Rome thrust forward her frontiers and retreated from her principles.

The government was in the hands of a few opulent families of the world of finance, supported by the military junta. These families knew how to protect their interests: they disguised them as national necessities. The preservation of Rome was identified with that of the ruling families.

The Roman people consisted of a small oligarchy of landowners, bankers, speculators, merchants, artisans, adventurers, and tatterdemalions, avid for pleasure, excitement, and sudden gain, proud, turbulent, corrupted by the life of the city, and placing their own interests ahead of even the most salutary reform.

Guglielmo Ferrero, The Greatness and Decline of Rome, 1909

When mass dictatorship occurred in Russia, then in Italy, we said to one another, 'That is what happens in backward countries.  We are fortunate, for all our troubles, that it cannot happen here.'

The fact is, I think, that my friends really didn't know.  They didn't know because they didn't want to know.  They could have found out, at the time, only if they had wanted to very badly.

I fooled myself.  I had to.  Everybody has to.  But I didn't want to see it, because I would have then had to think about the consequences of seeing it, what followed from seeing it, what I must do to be decent.  I wanted my home and family, my job, my career, a place in the community.  To live in this process is absolutely not to be able to notice it — please try to believe me — unless one has a much greater degree of political awareness, acuity, than most of us had ever had occasion to develop.

Each step was so small, so inconsequential, so well explained or, on occasion, ‘regretted,’ that, unless one were detached from the whole process from the beginning, unless one understood what the whole thing was in principle, what all these little measures that no 'patriotic German’ could resent must some day lead to, one no more saw it developing from day to day than a farmer in his field sees the corn growing.   One day it is over his head.

Milton Mayer, They Thought They Were Free: The Germans, 1933–45, 1955

Behind the concrete, the visible events, behind all objective, logical considerations, we find the irrational element.   Everywhere and always demonic powers lurk in the dark, waiting for the moment when man is weak; when he yields to the force of evil, he separates himself from the powers of a higher order; and after voluntarily taking the first step, he is driven on to the next and the next at a furiously accelerating rate.

White Rose, Fourth Leaflet, Munich 1942

 

Yet another interesting day in the risk markets, as stocks dropped sharply earlier in the day, but then gradually rallied in the quiet of the afternoon, to close unchanged or even positive.

Hardly anyone talks about it anymore, but as far as I can tell the Exchange Stabilization Fund, colloquially known as The Plunge Protection Team,  is still functioning in secret with little to no oversight as to its criteria for action.

The Fed and the Machine are throwing around huge amounts of money in a very sloppily regulated financial system, so the sources of certain things are hidden, or at best obscure.

Gold and silver rallied a bit, but were held back once again.  They rally in Asia, and are dampened in London and New York.

VIX rose sharply and then fell, consistent with the adjustments in the risk markets as the day wore on.

The Dollar dropped quite a bit, as it vacillates around.

The disastrous foreign policy of the US is alienating a significant portion of the global economy, with a few powerful entities reacting badly to what they perceive as 'bullying.'

Well, it's fair to say that there are a number of key factors that seem to show a divergence in the future paths of the different principalities and powers. 

It will be interesting to see how this resolves, in what surely will be looked back upon as an historic period of transition from a unipolar to multipolar world.

But as it goes, the biggest risk is not the geopolitical, or the social, but the personal, with regard to our ability to remain standing as a moral human being, in an increasingly hysterical and hostile environment characterized by ruthless lawlessness exercised by sociopaths and marginally contained psychopaths. 

But this is a familiar pattern in history.  We read about it, but do not expect it in our own case.

In the end, our standing as a moral human being is the only thing that truly matters— how God sees us, and how we are received by Him in judgement.

The days of judgement are coming; the days of reckoning are at hand.
Israel cries out, 'The prophet is a fool, the righteous men are mad.'
Because your sins are great, all the greater still your hatreds.

Hosea 9:7

Our faith is purified in the crucible of trials and temptations.

Have a pleasant evening.



31 May 2024

Stocks and Precious Metals Charts - The Desolation of Abomination

 

"It seems that under the overwhelming impact of rising power, humans are deprived of their inner independence and, more or less consciously, give up establishing an autonomous position toward the emerging circumstances.   The fact that the foolish person is often stubborn must not blind us to the fact that he is not independent.  

In conversation with him, one virtually feels that one is dealing not at all with him as a person, but with slogans, catchwords, and the like that have taken possession of him. He is under a spell, blinded, misused, and abused in his very being.  Having thus become a mindless tool, the foolish person will also be capable of any evil and at the same time incapable of seeing that it is evil.   This is where the danger of diabolical misuse lurks, for it is this that can once and for all destroy human beings.”

Dietrich Bonhoeffer, Letters and Papers From Prison

"As soon as men know that they can kill without fear of punishment or blame, they kill; or at least they encourage killers, with approving smiles."

Simone Weil

“Addiction might be the best word to explain the lostness that so deeply permeates society. Our addiction make us cling to what the world proclaims as the keys to self-fulfillment: accumulation of wealth and power; attainment of status and admiration; lavish consumption of food and drink, and sexual gratification without distinguishing between lust and love. These addictions create expectations that cannot but fail to satisfy our deepest needs.

As long as we live within the world's delusions, our addictions condemn us to futile quests leaving us to face an endless series of disillusionments while our sense of self remains unfulfilled. In these days of increasing addictions, we have wandered far away from our Father's home. The addicted life can aptly be designated a life lived in 'a distant country.' It is from there that our cry for deliverance rises up.”

Henri J.M. Nouwen, The Return of the Prodigal Son

“When you see the desolation of abomination standing where he should not be, let those who seek knowledge understand, then let those in Judea flee to the mountains."

Mark 13:14

Today was the end of May.  And the markets took a wild ride.

Let it suffice to say that these guys are shameless, and increasingly brazen.

And not just in the markets.  

They lie, and fall in love with their lying. 

Have nothing to do with them and their ways.

Non-Farm Payrolls and FOMC next week.

Have a pleasant weekend.



30 May 2024

Stocks and Precious Metals Charts - And So For Now We Travel With You in the World

 

The Christian life is a pilgrimage.  At times the road is difficult, and we get lonely.  Sometimes we may become discouraged and consider abandoning the journey.  It is at such times that God will place a friend alongside us.  One of God’s most precious gifts to us is friends who encourage us and lovingly challenge us to 'keep going.'  According to Scripture, a friend is one who challenges you to become all that God intends.

The mark of biblical friends is that their friendship draws you closer to Christ. They 'sharpen' you and motivate you to do what is right. True friends tell you the truth, and even risk hurting your feelings because they love you and have your best interests at heart .

Be careful in your choice of friends.  Jesus did not look for perfect friends, but friends whose hearts were set to follow God.  It is equally important to examine the kind of friend you are to others.  Strive to find godly friends who will challenge you to become the person God desires.  When you have found them, be receptive to the way God uses them to help you become spiritually mature.  Strive also to be the kind of friend that helps others become more like Christ.

Henry Blackaby, Iron Sharpens Iron

We are not remote elites or ascetic philosophers, who dwell alone and exile themselves from ordinary human life.  We do not forget the debt of gratitude that we owe to God, our Lord and Creator.  We reject no creature of His hands, though certainly we exercise restraint upon ourselves, lest we make reckless or sinful use of His gifts.  And so for now we travel with you in the world.

Tertullianus, Apologeticum, Carthage, 197 AD

They devoted themselves to the teachings and to the communal life, to the breaking of bread and to the prayers.  Awe came upon everyone, and many wonders and signs were done through the apostles. All who believed were together and had all things in common; they would sell their property and possessions and divide them among all according to each one's need.

Every day they devoted themselves to meeting together in the temple area and to breaking bread in their homes.  They ate their meals with exultation and sincerity of heart, praising God and enjoying favor with all the people.   And every day the Lord added to their number those who were being saved.

Acts 2:42-47

Stocks were sagging today as the markets squared up for the end of the month, and the PCE inflation data coming out tomorrow morning.

This may move the markets, although the punters seem to be taking the Fed's jawboning a little more seriously.

VIX opened higher again but faded a bit as the day wore on.

Stocks went out near the lows.

The Dollar slumped back. It is all a part of the endless wash and rinse of modern money.

Gold was unchanged, but silver was hit harder by the wavering of risk that brought down stocks.

The pretense to humanity are falling away.  It's almost shocking at times what we have come to tolerate.

We may truly deserve the choice between Trump and Biden.  But we do not have to make that choice.

What all these very exceptional and impressive personages have in common is their lack of empathy for others, and an overwhelming lust for money and power.  

Our professional and moneyed class have deftly shed the constraints of morality and the obligations of duty.  This has always been their tendency, but of late it has become more acceptable, almost fashionable.

Not a good situation.  Most do not understand how perilous the times may be, and they do not want to know it.

But in the end we have each other, and the help of the Lord.  And so we cannot despair.

Have a pleasant evening.