Gold Daily and Silver Weekly Charts - Abide

Gold and silver had the usual hit today, that was almost perfunctory in its routineness.  That did not make it any less obvious. I am sure that they can rattle off a hundred rationales to support their actions for the good of others. That they happen to benefit is merely incidental.

There is quiet panic in the banks and the boardrooms, make no mistake of that.  Russia has them perplexed.  China has them confused.  The rest of the world holds them in contempt.  Most with eyes open can see their falsehoods. 

Their fabrications grow increasingly transparent.  Force is extended to make up for the weakness of the fraud.  Their empire of deceits are pervasive and fearsome in their shamelessness. 

How and when this will end, no one can say.

For now we must be waitful and watchful.

'At this moment we are the anvil, rather than the hammer.'

There was intraday commentary that may be worth reading.

Have a pleasant evening.

 

SP 500 and NDX Futures Daily Charts - The Age of the Thing

"Greetings citizens.
We are living in the age,
in which the pursuit of all values
other than
money, success, fame, glamour
have either been discredited or destroyed.

money, success, fame, glamour,
for we are living in the age of the thing.

money, success, fame, glamour..."

Macaulay Culkin et al., Party Monster


"The perpetrators were scholars, doctors, nurses, justice officials, the police and the health and workers’ administration.

The victims were poor, desperate, rebellious or in need of help. They came from psychiatric clinics and childrens hospitals, from old age homes and welfare institutions, from military hospitals and internment camps.

The number of victims is huge, the number of offenders who were sentenced, small."

Commemorative Tablet at Tiergartenstraße 4, Berlin

The banality of evil is alive and well in our culture of death, that measures everything in dollars, and values nothing that is human for its own sake, whether it be truth, or beauty, or goodness.

That it is banal does not mean it cannot be noisy.  That it wears a hand tailored suit instead of a uniform does not make it any less vulgar,  capable of causing great misery and destruction.  That it speaks with sophistication or cleverness does not makes its words any less poisonous.  That it will eventually destroy itself in the future does not detract from its power to taint and corrupt in the present.  That it reaches out remotely, by force and fraud, to throttle and kill its victims does not make its hands any less bloody.

Even that consummate anti-human evil on earth did not begin by writing off 47 percent of the people as less than human, as life unworthy of life.  As if any number of human lives could be justified by the godlike delusions of these narcissistic sociopaths.

Markets moved sideways today, with the SP down a bit and the tech heavy NDX up a bit.

Wall Street is rolling out the barrel for the Alibaba IPO.

Consumer Credit growth came in greater than expected.

Have a pleasant evening.

NAV Premiums of Certain Precious Metal Trusts and Funds - Bottoming, Perhaps

The currency war continues. 

My sense is that we *might* see a double bottom echo of the last double bottom. The impedance of seasonality factors and supply issues will continue to degrade the paper market price swing in this rinse cycle of the latest wash and rinse.

Am I calling bottom?  I do suspect we are at or near that point.  But the trend is the trend until it is not.  I have learned to be keenly aware of the brazen stupidity of our pampered princes when frightened.  And this is no 'natural' market.  Few are these days.

 

CFTC warns DOJ of 'criminal rate-rigging' in the ISDAfix.

The Corporate Media In America: Orwell Rolls Over In His Grave

"The American fascist would prefer not to use violence. His method is to poison the channels of public information. With a fascist the problem is never how best to present the truth to the public but how best to use the news to deceive the public into giving the fascist and his group more money or more power.”

Henry A. Wallace

"Do remember that dishonesty and cowardice always have to be paid for. Don't imagine that for years on end you can make yourself the boot-licking propagandist of the Soviet régime, or any other régime, and then suddenly return to mental decency. Once a whore, always a whore."

George Orwell