06 August 2014

Gold Daily and Silver Weekly Charts - Currency Wars and the Inevitable Banquet of Consequences


"We have been silent witnesses of evil deeds; we have been drenched by many storms; we have learnt the arts of equivocation and pretence; experience has made us suspicious of others and kept us from being truthful and open; intolerable conflicts have worn us down and even made us cynical.

Are we still of any use? What we shall need is not geniuses, or cynics, or misanthropes, or clever tacticians, but plain, honest, and straightforward men. Will our inward power of resistance be strong enough, and our honesty with ourselves remorseless enough, for us to find our way back to simplicity and straightforwardness?”

Dietrich Bonhoeffer

The stopping of contracts for gold bullion continued at a brisk pace yesterday, with the month-to-date total reaching  355,900 ounces.  Given that this is against a total deliverable-at-these-prices inventory of 986,857 ounces, it is probably very fortunate that almost none of the gold ever leaves the Comex, but is merely shoved around the plate of speculators in the service of their games of liars' poker.

Real delivery does in fact take place.  It just does not take place in New York, where unfortunately the prices for the world of certain key commodities are heavily influenced, if not set. 

One of the great strengths of gold as a natural form of money is that, being created only in the hearts of the explosions of supernova, it is in relatively scarce and stable supply.  It is not consumed by industry to a large extent, and does not succumb to the corrosions of time.

There had been a great store of it in the West's central banks.  It was viewed as just another form of historic money, subject to the manipulations and management of the other world currencies, as is the charter of the central banks as the central planners of our brave new world of crony capitalism and the post-Bretton Woods.

Unfortunately for these best laid plans, some intransigent nation states have become tired of the principle of 'justice for some,' and are not swayed by the propaganda of the modern pseudo-science of economics that serves to largely promote the a priori and almost always self-serving policy decisions of a privileged few.

And so here we are.  The lie seems to be reaching the end of its rope.  The status quo is squirming in their seats, like the pharisaical hypocrites that they are, like serial criminals at a 'come-to-Jesus' meeting.

In the darkness of their group thought and backroom dealings it seemed like a good and noble idea at the time, to manage the money, and the perception of it, to serve the people.  And of course they had the promptings of the Banks, who held their hands closely, and helped them, and told them how clever they are.

But in the light of day and to their shame, it looks to an uninitiated observer like a simple case of blatant and conspicuous fraud, and a theft of other people's money that served themselves and their friends.  

Isn't this how we always go wrong, when we know what is right, but allow special dispensations and privileges for ourselves?  One thing leads to another, in a progression of coverup and a spiral of ever greater crimes in the service of following orders and 'the necessary obligations of superior men'.   Men caught up in such power as they have only one limitation, one law, and that is 'do what thou will.'

And now the day of reckoning approaches.  What to do, what to do?

Have a pleasant evening.


SP 500 and NDX Futures Daily Charts - The Possessed - 牢人


“You cannot imagine what sorrow and anger seize one's whole soul when a great idea, which one has long and piously revered, is picked up by some bunglers and dragged into the street, to more fools like themselves, and one suddenly meets it in the flea market, unrecognizable, dirty, askew, absurdly presented, without proportion, without harmony, a toy for stupid children.”

Fyodor Dostoyevsky, The Possessed

Stocks caught a bit of a bounce today, swayed here and there by the varying and shifting interpretations of 'just what the heck is going on' in the geopolitical arena.

The failure of stocks to rally despite the light selling volume is not a constructive sign.  However, this lack of buying does not in and of itself serve to set up a major decline in the ten percent plus region.

But it does serve to remind one of the fragility, selectivity, and somewhat ephemeral nature of The Recovery™.

How remarkable it is, that there are those who argue fervently for austerity and tough love for others, and how the opposite camp argues just as vociferously and often mindlessly for 'stimulation' and easy money.  And both for essentially the same unreformed system that is founded on systemic fraud and officially sanctioned injustice, well covered by a blanket of stealthy stone-walling and bold faced lies.

Is it a surprise that 'easy money' from the Fed is flowing only to the wealthiest few, to the Banks and the corporations that surround them, who use the funds to purchase other companies building even greater monopolies?  Is it a surprise that they use it not to produce in the face of stagnant wages and slack demand, to buy back their stocks and pay outsized bonuses and dividends?   Is it a surprise that this allows the moneyed interests to continue to provide the huge flow of money to the high priests of official corruption in Washington and London to promote the rights and the primacy of the new corporate godheads.

What a world.  These days it is truly a 'burden to be educated,' not only in the sense of having enormous and often unpayable student debts, but to bear the burden of having to think for oneself.  It is not easy to be unable to live comfortably, blinded to the lies by the sedation that comes from freedom from thought that a slavish devotion to one ideology or the other offers to those who are among the possessed.

Have a pleasant evening.




 

Michael Parenti - Land of Idols: Lies, Wars, and Empire


"The [neoliberal] goal has been the 'Third Worldization' of the United States:
  • an increasingly underemployed, lower-wage work-force;
  • a small but growing moneyed class that pays almost no taxes;
  • the privatization or elimination of human services;
  • the elimination of public education for low-income people;
  • the easing of restrictions against child labor;
  • the exporting of industries and jobs to low-wage, free-trade countries;
  • the breaking of labor unions;
  • and the elimination of occupational safety and environmental controls and regulations."
Michael Parenti, Land of Idols, 1993


"The enormous gap between what US leaders do in the world and what Americans think their leaders are doing is one of the great propaganda accomplishments of the dominant political mythology."

Michael Parenti


"Plunderers of the world, when nothing remains on the lands to which they have laid waste by wanton thievery, they search out across the seas. The wealth of another region excites their greed; and if it is weak, their lust for power as well. Nothing from the rising to the setting of the sun is enough for them. Among all others only they are compelled to attack the poor as well as the rich. Robbery, rape, and slaughter they falsely call empire; and where they make a desert, they call it peace."

Tacitus, Agricola

Iraq was not a unique event.  It is a modus operandi, a template.

Ideology serves to make people blind to their actions.  On one hand they can rail against the Banks, the obvious excesses of the multinational corporations, and the many abuses and corrupting influences of Big Money.

But on the other they can speak up stridently for the liberating principle of a 'free market capitalism' and the dispensation of the rule of justice in favor of might makes right which, in service to the mythical god of scientific economy, dictates that there be plunder and demands the pillage of the weak, who are objectified as being 'the other.' 



05 August 2014

Gold Daily and Silver Weekly Charts - Wind of Change


"How are the mighty fallen, and their weapons of war destroyed."

2 Samuel 1:27

As we might have expected, the gold that left the JPM warehouse yesterday magically reappeared, with an adjustment and then some. The record of their antics is in the report below.

The pattern held today, as gold and silver were hit in the early hours, and then kept under pressure most of the day. Gold recovered a bit more than silver into the closing hour. As you may recall August is an active delivery for gold, but not for silver. You have to wonder why this would matter, since the metals seems to be there primarily for show, but apparently it does.

Change is coming.  Uncertainty is the only certainty.  It may be a long time coming, but when it does appear it will be like a thief in the night.

Keep in mind that we are in a currency war, and what it is about and why it is happening, and some of the things that are happening may make more sense.  What has been hidden will be revealed.

Have a pleasant evening.