Gold Daily and Silver Weekly Charts - The Fourth Turning - Come As You Are

Dürer, Knight Death and the Devil

"But now, in this century of ideologies, the Gods and Destiny have been given new life. 'Miracles in the world are many,' Sophocles wrote in the fifth century BC. 'There is no greater miracle than man.'

Suddenly, at the end of the twentieth century, we discover that no, after all, it isn't true. Historical inevitability is a greater miracle than man. As is the dialectic. As is the superiority of various groups according to blood type. As is the genius of an abstract mechanism called the market. As is the leadership of inanimate objects — called technology — which worker bees create and then, inevitably, are led by.

These inevitabilities are great leaps backward into the arms of the Gods and Destiny."

John Ralston Saul

It's funny but I remember translating that line above from Sophocles as an undergraduate in college. 'Many are the wonders, but nothing more wondrous than man.'

We are much worse than ancient cultures with their superstitions. We are granted enormous amounts of data, with more knowledge of the workings of the physical universe and nature than any other generation.   

 

And yet we cannot see 'the big picture' as well as they had done, substituting our own myths and legends of ourselves and our marvelous exceptionalism for reality, while ignoring the greatest forces of God and Nature. 

 

We dissipate, relentless in our doom, to glare at photons, gaping in the light.

 

Non-Farm Payrolls report tomorrow.

 

It has now been over three years since MF Global went bankrupt, caught in a series of margin calls on their house accounts, coupled with massive misuse of customer assets.  And we still do not know what happened, and there have been no prosecutions.

The next turning will be televised. In living colour. 

 

Come as you are. 

Have a pleasant evening.

 

SP 500 and NDX Futures Daily Charts - We Come In Peace

"We're not savages. We're English, and the English are best at everything.'"

"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

"O Jerusalem, Jerusalem, who murders its prophets, and stones those sent to preserve her. How often I have wished to gather your children with me and keep them safe, as a hen gathers her brood under her wings.   And you were not willing."

Matt 23:37

 

If you see us coming, better run and hide. 

 

We make a desert, and call it peace.  

 

'Maybe there is a beast.  Or maybe it's only us.'

 

The Lord of the Flies.

 

Have a pleasant evening.

 

 

 

 

Gold Daily and Silver Weekly Charts - Non-Farm Payrolls on Friday

Gold and silver were treading water most of the day, holding their levels at key support and resistance, within the continuing chart patterns of lower highs and lower lows.

It will take a breakout to change this long bear market. That sharp V bottom and recovery we just saw *might* be bottom with a capitulation, and if it were any other time and any other market I might say it probably did.

But things being what they are, we will have to wait and see if the markets can move higher and break that trend.

We may discuss the particulars, hidden as they are by the deception of the Banks and their markets, but there should be no doubt that gold is flowing from West to East. How this will turn out, and when we will see some resolution of this growing divergence between reality and paper, no one can say.

But we will be able to see a clear break in trend. And then we might say, 'whoomp, there it is.' Old school.

 

But in the meanwhile here we are.  The CME has extended special trading incentives for Central Banks. The better to manage your perceptions, my dear.

Friday in a Non-Farm Payrolls day. Let's see how that turns out.

It was funny to hear the talking heads debating with the lollipop guild about the dismal sales results from the big holiday shopping weekend. The one that really cracked me up was the analyst who said that 'the people have plenty of money, they just do not want to spend it.' That one even shook up the anchor spokesmodel out of her walking slumber of never ending exceptionalism.

Have a pleasant evening.

 

 

 

 

 

SP 500 and NDX Futures Daily Charts - Forty Years in the Desert

"All we say to America, is 'be true to what you say on paper.'"

Martin Luther King, last speech, 3 April 1968

Stocks had a light upward bias today with the SP futures leading the way against some broader divergences.

There is a theme I struck over the last day or two, which I would like to emphasize again in high relief here.

Will there be a third time, yet another financial crisis that shakes the financial system? Powerful and reckless people often find the changes enabled by a crisis to be both rewarding and exhilarating, in the exercise of raw power and the stuffing of their own pockets.

So, if there is in fact a third economic crisis in the world, we might well expect to see the hand of the financial system reaching furtively and maliciously into the public's pockets, personal happiness and freedom once again.  And they will be supported by their politicians urging the public to give way to save themselves. And this may happen again in any part of the Western world.

 

We may finally gather ourselves together as a people, standing for the rule of equal justice, and say, 'enough!'  

 

Or we may all continue on in for forty more years, wandering in a desert of increasing repression, injustice, and deception, hoping that they will victimize all the other ones first.

 

Have a pleasant evening