SP 500 and NDX Futures Daily Charts - SP Cash Finished Year Dead Even

Boring day overall, but the big excitement was that Wall Street was able to bring the cash SP 500 in at dead even for the year.

Have a Happy Holiday everyone. Keep in mind that the US markets are closed on Monday.

Net Asset Value Premiums of Certain Precious Metal Trusts and Funds

Lawrence Lessig: Republic, Lost - The Quiet Coup D'etat

"Money Buys Results In Congress"

Summary: The reason for the failure of the American economy and the inability of the government to address it is because of the corruption and distortions inherent in a system where campaign contributions control the politicians and the policy, and less than one percent of the people control the vast majority of those campaign contributions and therefore the distribution of power.

Video presentation

Lawrence Lessig: Republic, Lost

"The liberty of a democracy is not safe if the people tolerate the growth of private power to a point where it becomes stronger than the democratic state itself. That in its essence is fascism: ownership of government by an individual, by a group, or any controlling private power.”

Franklin D. Roosevelt

This is the critical issue that will be addressed, one way or the other, across the developed world.   The timing is difficult to judge because of the many exogenous factors.  It could come quickly, or be over a longer period of time of many years.   But in any case the result will be a mixed revival of democracy and the rapidly increasing repression of totalitarianism, in various countries at various times, similar to what the world had seen in the 1930's.

"If there must be trouble, let it be in my day, that my child may have peace.”

Thomas Paine

The roles that the various countries and their alliances will play are not yet clear.  But what seems likely is that the next great leader or antichrist will once again appear draped in a flag, but this time will be wearing business attire instead of jackboots.

Gold Daily and Silver Weekly Charts - Painting the Tape Red

There was intraday commentary here.

The thought is that the big metals shorts are hammering the paper prices in thin trading to 'paint the tape' for their year end mark-to-market. 

It smelled like a capitulation today, but as the volumes were so thin I would not care to call it.   But 1524 had the look of a bottom.  Aggressive traders must be chomping at the bit. 

Let's see how the year ends.