09 May 2013

Chris Hedges: On a Windy Afternoon In Front of Goldman Sachs - Hunger Games


“All the animals, the plants, the minerals, even other kinds of men, are being broken and reassembled every day, to preserve an elite few who are the loudest to theorize on freedom, but the least free of all.

I can’t even give you hope that it will be different someday— that they’ll come out, and forget death, and lose their technology’s elaborate terror, and stop using every form of life without mercy to keep what haunts men down to a tolerable level— and be like you instead, simply here, simply alive.”

Thomas Pynchon, Gravity's Rainbow

Although people like to imagine dystopian futures like The Road, or even The Walking Dead, if you wish to see a more possible vision of the future, especially in Europe, go see The Hunger Games.  

Part 1 has been out for some time, and Part 2 is coming to theatres late this year.  I read the books when all the kiddos were reading them a few years ago. 

They not literary classics, but diverting and well worth reading. And I recommend them to you, so that you can at least know what many bright young people are thinking about the world which we are creating for them.

And when you see or read about the frivolous excess and self-important obsessions of the incredibly out of touch ruling elite in The Capitol, and their perfect records of achievement in games in which they make the rules as they go, recall that telling phrase of Hannah Arendt's, the banality of evil.

They would be as gods, and so revel in violence and death which, unable to create life, is their greatest power and the means of their control.

And the winners will owe their allegiance to a faceless System. And if they use power and money to pervert justice, instead of bombs and bullets, so much the better for its efficient use of resources.





Net Asset Value Premiums of Certain Precious Metal Trusts and Funds



Certainly subdued, if not gloomy.





The Political and Social Continuum - What About the Outliers? Does Sin Exist?


As you may recall I have constructed this model to help me conceptualize the 'continuum' of political and social thought.

One of the motivations for this particular form was to help me to understand why those at the extremes can 'cross over' so easily from one to the other.

And in practice, the two extremes seem identical in many ways.

But I have struggled for some time where a sociopath or psychopath might fit in this scheme of things.

Today it struck me that sociopaths and psychopaths can fit anywhere they like, although given their attraction to power and control over others they would be mostly found at the extremes.

They can move about most easily because they are 'outside the continuum'  and by definition  are exceptionally under-socialized.   For whatever reason, they do not 'fit' within a social structure, but are essentially outliers because of their pathology, the way in which they have rationalized themselves.

They are a mutated form of the self-actualizing person. They may seem quite personally powerful, but inside they are hollow, almost histrionic. They would be products of broken homes, and have marriages of convenience, mostly their own.

The narcissists are often highly verbally acute and talented at using speech, with high IQs.  But the tell is their lack of consistency.  And they thrive in places of upper management where performance and personal responsibility can be rationalized and diffused.  They are corrosive for the long term.


And the same off model status might be said to apply to misanthropes and hermits, the extreme form of self-imposed isolationism. At some point their social maturity has failed. And then there are the many socially immature who have never progressed beyond adolescence most likely because of some trauma or lack of support for their development. They lash out in anger because they know something is missing in their lives.

Politicians and certain types of public figures can be tough to place on this model because they are often poseurs, in that they are motivated primarily by power, and will assume various modes and guises to obtain it. They are most notable for the lack of consistency between their public and private lives, their very disingenuousness.

Indeed their private lives can often be quite distinct from their public reputations, and remarkably so.

I have known many 'driven' figures who from a public face would seem to be quite successful, and often remarkably so. But almost invariably they are unhappy to the point of being miserable, and they spread their misery to their family and all that come close to them. They are broken but functional and for some their obsession gives them a remarkable focus. They are not distracted by sincere feelings and abstract principles such as 'justice.' People are at best trophies to be collected and more often objects to be used and discarded.

Do not get me wrong.  No one is perfect, and the definition of normal is broad given the natural diversity of creation.  And at the end of the day, we are all imperfect and often broken people.  It is how we react to these things that makes us what we are.  Some must struggle more valiantly than others.

I cannot give you a precise definition of 'sin' without reference to personal belief, along with the usual classical references, although I do believe it objectively exists.   I think the best way to explore this is to ask a higher power, sincerely and with some persistence, to show our own sins to us.  And that might prove to be interesting, especially among those who think they are without it and beyond it.

And although I cannot define what normality and sin are, I think I know what hell is.  To paraphrase Dostoevsky, hell is the inability to love and to be loved, even when it is true and freely offered.  That is the terrible curse of Tantalus, and the source of much anger and discontent and oppression in the world.

So there is my slight modification to this model, and my pass at practical psychology for today.

08 May 2013

Gold Daily and Silver Weekly Charts - Cap and Trade Redux - Gold Flowing From West to East


Pop higher but no breakout from the potential bull flag.

Silver lagged a bit.

Congratulations to JP Morgan and Bank of America, who both turned in 'perfect' trading records for the 1Q of this year.  It pays to have friends in high places.  And faithful retainers are even better.

The US markets are almost surreal.  The Fed and its Bankers believe that they can set the price of everything, at will, no matter what, and without consequences.   Just a push here and a pull there.

And that is a dangerous self-delusion.   But it is consistent with a school of Modern Monetary Theory that says that value is what we say it is, and we can 'adjust' the markets at will to make it so.

Well, let's see how it turns out this time.  But as I have said on several occasions, as with most Ponzi schemes, bubbles in financial paper are a matter of degree, belief, and tipping points.

This in from Harvey Organ tonight:
"Today, physical gold continues to leave London with 6.32 tonnes of gold departing the GLD for the shores of China/and or Russia. The game ends when the last physical ounce held at the GLD departs.

Over at the comex gold is departing as investors are frightened to death of a confiscation similar to what happened at MFGlobal or Refco. Tonight, the Comex registered or dealer gold rests at 1.858 million oz or 57.16 tonnes. The total of all gold at the comex rose just above 8 million oz at 8.001 million oz.

Also at the comex, we saw another customer withdrawal of gold from JPMorgan to the tune of 57,863.091 oz. They now have only 137,377.04 oz left in its customer account.