26 March 2012

Gold Futures Daily Chart - Intraday With Key Support and Resistance



The short term trend is downwards and in red.

The longer term trend is upwards and in green.

The very long term trend is steep and pointing to much higher prices.

The support and resistance on the chart is rather easily seen.

I would put the key levels in blue.



JPM's Asia-Pacific CEO Leaving the Firm



The spokesmodels were crying insipid crocodile tears for Gaby this morning. "With all this regulation, it's just not fun anymore."

Yes, even plunder can become tedious.

Except I think this is part of a greater trend.

The American derivatives dealers and agents of fortune are leaving Europe and Asia, as the currency wars intensify, and the Banksters are sent home.

WSJ
J.P. Morgan's Asia-Pacific CEO Leaving
By ALISON TUDOR
March 26, 2012

HONG KONG—J.P. Morgan Chase & Co.'s chairman and chief executive officer for the Asian Pacific region, Gaby Abdelnour, is leaving the bank after 14 years and the building up of the bank's platform in China.

Mr. Abdelnour, 58 years old, will leave the New York-based bank this summer to pursue personal interests, according to a memo signed by Chief Executive Officer James Dimon and investment-banking head Jes Staley and circulated internally. The bank hasn't named a successor...

Bernanke Spurs Stock Market with Pledge to Inflate the Currency



The problem with this approach is that only the wealthy can gain the greatest benefit from it, and the real economy picks up the scraps.

The banks can borrow at almost zero, and buy treasuries paying two or three percent, and the wealthy can continue to buy income producing assets and other companies to strenghten their monopolies.

There will be no sustainable recovery until the system is reformed. The greater fault is of Obama and the Congress, since they control fiscal policy and enforcement of the law, although the Fed as regulator does very little to reform the financial system and the Banks.

The limit of this current quantitative easing policy is the value of the dollar in international trade, or the spontaneous action of the people to demand change.

Reuters
Wall Street gains after Bernanke comments
By Ryan Vlastelica March 26, 2012

NEW YORK (Reuters) - Stocks rallied on Monday after Federal Reserve Chairman Ben Bernanke suggested the central bank would continue supportive monetary policies even as the unemployment rate improves.

The economy needs to grow more quickly if it is to produce enough jobs to bring down the unemployment rate further, Bernanke told a gathering of the National Association for Business Economics.

"Further significant improvements in the unemployment rate will likely require a more rapid expansion of production and demand from consumers and businesses, a process that can be supported by continued accommodative policies," he said.

Leo Grohowski, the chief investment officer at BNY Mellon Wealth Management in New York, called the remarks "the best of both worlds..."

25 March 2012

Martin Luther King - On Civil Disobedience



Excerpt of Transcript of the Sermon "But If Not" by Martin Luther King

O Nebuchadnezzar, we do not need to defend ourselves before you in this matter. If we are thrown into the blazing furnace, the God we serve is able to save us from it, and he will rescue us from your hand, O king.

But if not, even if he does not preserve us, we want you to know, O king, that we will not serve your gods or worship the images of gold you have set up and commanded us to worship." Daniel 3:16-18

Now I want you to notice first, here, that these young men practiced civil disobedience.

Civil disobedience is the refusal to abide by an order of the government or of the state or even of the court that your conscience tells you is unjust. Civil disobedience is based on a commitment to conscience. In other words, one who practices civil disobedience is obedient to what he considers a higher law.

And there comes a time when a moral man can't obey a law which his conscience tells him is unjust. And I tell you this morning, my friends, that history has moved on, and great moments have often come forth because there were those individuals, in every age and in every generation, who were willing to say "I will be obedient to a higher law." These men were saying "I must be disobedient to a king in order to be obedient to the king."

And those people who so often criticize those of us who come to those moments when we must practice civil disobedience never remember that even right here in America, in order to get free from the oppression and the colonialism of the British Empire, our nation practiced civil disobedience.  For what represented civil disobedience more than the Boston Tea Party.

And never forget that everything that Hitler did in Germany was legal. It was legal to do everything that Hitler did to the Jews. It was a law in Germany that Hitler issued himself that it was wrong and illegal to aid and comfort a Jew in Hitler's Germany. But I tell you if I had lived in Hitler's Germany with my attitude, I would have openly broken that law. I would have practiced civil disobedience.

And so it is important to see that there are times when a man-made law is out of harmony with the moral law of the universe, there are times when human law is out of harmony with eternal and divine laws. And when that happens, you have an obligation to break it.

And I'm happy that in breaking it, I have some good company. I have Shadrach, Meshach, and Abednego. I have Jesus and Socrates. And I have all of the early Christians who refused to bow...

And this is what I want to say finally, that there is a reward if you do right for righteousness' sake...Don't ever think you're by yourself. Go on to jail if necessary but you'll never go alone.

Take a stand for that which is right, and the world may misunderstand you and criticize you, but you never go alone, for somewhere I read that "One with God is a majority," and God has a way of transforming a minority into a majority.

Walk with him this morning and believe in him and do what is right and he'll be with you even until the consummation of the ages. Yes, I've seen the lightning flash, I've heard the thunder roll, I've felt sin breakers dashing trying to conquer my soul but I heard the voice of Jesus saying still to fight on, he promised never to leave me, never to leave me alone; no, never alone, no, never alone. He promised never to leave me, never to leave me alone.

Where you going this morning, my friends, tell the world that you're going with truth. You're going with justice, you're going with goodness, and you will have an eternal companionship. And the world will look at you and they won't understand you, for your fiery furnace will be around you, but you'll go on anyhow.

But if not, I will not bow, and God grant that we will never bow before the gods of evil."



"For we wrestle not against flesh and blood, but against principalities and powers, against the rulers of the darkness of this world, against spiritual wickedness in high places."

Ephesians 6:12