Gold Daily and Silver Weekly Charts

A nice bounce today.

The manipulation that we have seen since December is still holding on a bit.

We may hit a rough patch when the debt ceiling discussions begin in earnest in late January or February.

SP 500 and NDX Futures Daily Charts

I think the US equity market is in for a stiff correction sometime in the first quarter. It will probably be tied in with the debt ceiling fandango.

Alcoa put in respectable results after the bell.

Gold Daily and Silver Weekly Charts - The Silly Season

“So comes snow after fire, and even dragons have their endings.”

J.R.R. Tolkien, The Hobbit


"This empire, unlike any other in the history of the world, has been built primarily through economic manipulation, through cheating, through fraud, through seducing people into our way of life, through the economic hit men."

John Perkins

Earnings season tomorrow after the bell with Alcoa.

The silly season continues as the debt ceiling has caught the can which was kicked down the road by the fiscal cliff.

It will only get stupider as the year goes on.

You can read some commentary about 'The Platinum Coin' if you scroll down for the last few postings.

I suspect strongly that this is all jawboning and political posturing. Who can take these jokers seriously excepting for the power of the office that they hold? The approval rating for Congress is around a disgraceful ten percent. But since they do not care what the people think, but only those few wealthy patrons who pay them their millions in contributions, it ought not surprise us all that much.

But in the interest of keeping it 'real' I think that all those who promote this Platinum Coin idea should be paid this year with a nice shiny single platinum coin, as a symbol in lieu of their normal salary.

Perhaps that will help them to understand why people who have saved their money and are receiving almost no interest for it are so aghast at this latest frivolous idea coming down from the economic sophisticates and their fellow travelers.

The lying and looting will continue until confidence improves.

SP 500 and NDX Futures Daily Charts - Earnings Season Begins

Earnings season kicks off tomorrow with Alcoa after the bell.

The VIX chart is included to show its dramatic drop back to complacent lows since the end of December and the 'fiscal cliff.' Almost time for another wash and rinse.

The debt ceiling fight looks to be bloody, with both sides already talking trash about threatening debt default, shutting down the government, and platinum coins.

Never waste a crisis they say.

Common decency and humanity are in short supply.

Chris Hedges speaks about the fiscal cliff and financial system here.