31 October 2013

SP 500 and NDX Futures Daily Charts - The One Percent's Lament: Poor Poor Pitiful Me

"The press is the hired agent of a monied system, and set up for no other purpose than to tell lies where their interests are involved."

Henry Adams


"For the game had never been fair, the dice were loaded. They were swindlers and thieves of pennies and dimes, and they had been trapped and put out of the way by the swindlers and thieves of millions of dollars."

Upton Sinclair













NAV Premiums of Certain Precious Metal Trusts and Funds


End of month gut check for the precious metals.

 

30 October 2013

Gold Daily and Silver Weekly Charts - Metals Pelted with Puff Balls on FOMC/Expiration


"Precious metals are financial assets like currencies, T-Bills and T-bonds.  They trade in the multiples of a hundred times the underlying physical, and so people buying them are voting and giving an economic view of the world or a view of the economic world..."

Jeff Christian in testimony to the CFTC


"It's [price manipulation] because gold is a powerful competitive international currency that, if allowed to function in a free market, will determine the value of other currencies, the level of interest rates, and the value of government bonds.

Gold's performance is usually the opposite of the performance of government currencies and bonds. Hence central banks fight gold to defend their currencies and bonds.

The problem is that central bank tactics in this fight affect more than gold; they affect markets generally and eventually destroy markets generally. This destruction of markets now has a name, a name used even by former members of the Federal Reserve Board. That name is 'financial repression.'"

Chris Powell

It was capping time, but no real serious hit on the metals on an FOMC day.

Equities maintain an upward bias as it looks like QE as far as the eye can see, at least into next year, lol.

There was no movement in or out of the Comex warehouses, highlighting the ephemeral paper nature of the US exchange.

God's judgement will fall heavily on the self-proclaimed exceptional.  Guarding against this is at least, if not more, important than protecting your savings.   For what does it profit a man...

Let us all keep this in mind even as the hysteria of the one percent grows, and the lies pile higher, driven by the cold winds of selfishness and self-destructive greed.

Have a pleasant evening. And try to remember those who will not.





Austerity, so the innocent may die, to salve the Banks' and fortunate ones' false pride.



SP 500 and NDX Futures Daily Charts - FOMC


The Fed basically said and did nothing new today. The economic news is weak.

Stocks sold off a bit on the news after the FOMC announcement.

Otherwise it is just business as usual.

After the bell Facebook beat revenue and earnings estimates.

Starbucks gave a cautionary outlook but boosted its dividend.