Edward R. Murrow: Good Night, And Good Luck

"All I can hope to teach my son is to tell the truth and fear no man...

If none of us ever read a book that was "dangerous," had a friend who was "different," or joined an organization that advocated "change," we would all be just the kind of people Joe McCarthy wants...

The only thing that counts is the right to know, to speak, to think — that, and the sanctity of the courts. Otherwise it's not America.

No one man can terrorize a whole nation unless we are all his accomplices."

Edward R. Murrow, speech to his CBS News staff, 1954


“The term propaganda rings melodramatic and exaggerated, but a press that—whether from fear, careerism, or conviction—uncritically recites false government claims and reports them as fact, or treats elected officials with a reverence reserved for royalty, cannot be accurately described as engaged in any other function.”

Glenn Greenwald

James Turk and Chris Martenson: Central Banks Losing Gold and Silver Price Suppression

Source link here.



Related: World Plunges Into Currency War - BusinessWeek

Gold Daily and Silver Weekly Charts - No Need for Safety Buy Stocks

That seems to be the talking points memo for financial television this week.

Grab a seat on the miracle market before they are all sold out.

The market is utterly overbought and VIX is complacent. But it can stay that way in light volumes. The market can remain irrational longer than you can remain solvent.

I have marked the trendline on the last chart along with the money flows and RSI.

The real economy can no longer afford to tolerate its corruptly inefficient financial system. That is the long and short of it.

And at some point, people will realize this, and something will happen.

SP 500 and NDX Futures Daily Charts - Fraud Will Continue Until Confidence Returns

I would be very careful about getting in front of this market while volumes remain low and the Fed keeps puffing up the banks with easy money.

The fairy tale being told is that the recovery has the market giddy, so it is exiting safe havens (like gold of course) and seeking risk plays for more upside.

Volumes remain thin and there is the tell. There is also a divergence between the SP futures and Tech 100.

Next week there are more Treasuries coming to market so we *might* see a pause, but this will not be safe to short except as a hedge on longs until there is a clear trend break. No need to be greedy. Wait for things to develop.