Gold Daily and Silver Weekly Charts - Risk On, and Miners Pounded

"We live in deeds, not years; in thoughts, not breaths;
In feelings, not in figures on a dial.
We should count time by heart-throbs. He most lives
Who thinks most, feels the noblest, acts the best.
And he whose heart beats quickest lives the longest:
Lives in one hour more than in years do some
Whose fat blood sleeps as it slips along their veins.
Life's but a means unto an end; that end,
Beginning, mean, and end to all things—God.
The dead have all the glory of the world.
Why will we live and not be glorious?
We never can be deathless till we die."

Philip James Bailey, Festus

Complacency reigns.

The pounding in some of the miners today was pretty impressive.

The relationship between stocks and the metals are fascinating.

I am still refining my list of mining stocks, but I am not buying here as my price targets are much lower than current prices. I could be wrong on them as I am quite pessimistic about stocks in general, and the miners are catching it from both sides, being metals related. But for now I see no reason to buy.

And I may not get those buys. But this ability to be 'picky' is one of the benefits of having a substantial long term position which one does not touch. You do not feel pressured to buy bottoms or sell tops, because your greater concentration is always on the long term prize.

You may trade around it if you will, but never, ever, give up your position entirely in a bull market.

SP 500 and NDX Futures Daily Charts - Complacency Returns

Today was a QE bet, risk on, as the market shook off any fears of Europe.

But this is an obsessive-compulsive rally, and the trends go with the winds, which are highly variable.

 

Net Asset Value Premiums of Certain Precious Metal Trusts and Funds

Thin with a slight edge to silver.

China's Extreme Real Estate Bubble: Globalization Is a Fraud, a Castle Built On Sand

Quite a few people know about this, but they really do not understand it.  It is a fraud that surpasses by far any in history, including the South Sea and Mississippi bubbles.

China is an extreme bubble fueled by artificially low wages and an autocratic industrial policy that is distorting the economy of the entire world.

The monied interests of the West have been riding the trend of deregulation and globalization to their personal enrichment and benefit.  But it is an empire of illusion, with a foundation of sand, held in place by the corrupting power of money.

There are some ways out of this that the Chinese leadership might take, but I suspect that their powerful oligarchs will be caught in the same credibility trap that has kept Western leaders from taking the appropriate policy actions for the good of their own people.

This is a story of betrayal, powers and principalities, of the rulers of darkness in this world, and evil in high places.   And the Anglo-American establishment has played a key part in it.

Sorry for the commercials, but the video is worth watching because it carries a visual impact that words alone do not quite capture.

China's richest woman says in a related interview not included on the aired program that the 'Chinese people are craving for democracy.'

So are the Arabic people, and the people of Europe and the Americas, who often have the illusion of choice, from amongst a series of choices allowed by technocrats acting for a ruling elite.