Gold Daily and Silver Weekly Charts - Knowledge Without Wisdom

“The evil effect of science upon men is principally this, that by far the greatest number of those who wish to display a knowledge of it accomplish no improvement at all of the understanding, but only a perversity of it. It serves most of them as a tool of vanity.”

Immanuel Kant


“Knowledge without wisdom is a load of books on the back an ass”

Chinese Proverb

The lesson to be learned from this imperial overreach will be hard indeed.

Madness.

SP 500 and NDX Futures Daily Charts - 溢れ - Overflowing

 

Equities are in a bubble, but the real economy continues to languish.

 

Paper money is overwhelming, and overflowing.

 

There is some thought that the US can never print too many dollars for the rest of the world to take.

 

Hubris does not even begin to describe the financial system of the Anglo-American banking cartel.

 

Who are these people?  What are they thinking?  Their ability to bully others blinds them to the balances of the real world.

 

This will end badly.

 

Have a pleasant evening.

 

 

 

Moyers: Our Democracy Is Flatlined - Moneyed Interests and Politics

"There was a Princeton study by Martin Gilens and Ben Page. The largest empirical study of actual policy decisions by our government in the history of our government. And what they did is they related our actual decisions to what the economic elite care about, what the organized interest groups care about, and what the average voter cares about.

And when they look at the economic elite, you know, as the percentage of economic elite who support an idea goes up, the probability of it passing goes up. As the organized interests care about something more and more, the probability of it passing goes up. But as the average voter cares about something, it has no effect at all, statistically no effect at all on the probability of it passing.

If we can go from zero percent of the average voters caring about something to 100 percent and it doesn't change the probability of it actually being enacted. And when you look at those numbers, that graph, this flat line, that flat line is a metaphor for our democracy.

Our democracy is flatlined. Because when you can show clearly there's no relationship between what the average voter cares about, only if it happens to coincide with what the economic elite care about, you've shown that we don't have a democracy anymore."

Lawrence Lessig

"It [big money] mattered enormously. It mattered in the selection of candidates. You know, long before we even heard their names, the candidates were selected if they were basically comfortable working for big-money donors. And that in itself gets you out of the realm of inspirational leadership. And then, of course, it mattered in the drowning of ads and the sense that people outside of any accountable power, super PACs outside of any accountable power, were really sort of running the system."

Zephyr Teachout

 

 

Potential Owners Per Ounce of Registered Comex Gold Back Over 50

Please note that this is not all the gold in Comex warehouses, merely that gold which is marked as deliverable at these prices.

Some like to use all the gold in their calculations but that seems a bit presumptuous, to consider gold merely being held by customers in storage in one of those warehouses as fair game at any price.

I am not calculating this for the purposes of a default, as you may recall.  The open interest is only potential owners. The Comex is, after all, a largely paper market.  

If there is a physical default it will more likely happen overseas, and come cascading back to London and New York, and the exchanges go bids up, with none offered.

In a case like that they can force settle in cash for paper, maybe, but not for the real thing.

Let's hope the imbalances between price, demand, and supply do not grow to the level.