Gold Daily and Silver Weekly Charts - Somebody to Love

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"He who makes a beast of himself gets rid of the pain of being a man."

Samuel Johnson

 

The metals were held in place today, consolidating their recent gains at the top of the support and resistance channel.

 

I am sure that some day this protracted market manipulation and price rigging will collapse. 

 

And I am also sure that some day we will be offered an elaborate story of how the Western central bankers used our gold to hold the line on its price for the sake of the system.

 

After all, this is their mandate, to insure the integrity of the currency by hiding the effects of their malfeasance, while shamelessly printing bushel loads of hot money and handing it to their Banking friends so they can use it to game the system.

 

If this goes badly, I would have no doubt that some unwitting 'public servants' are going to get thrown to the wolves and under the bus.  Michael Hayden is getting slathered up with barbeque sauce, and no doubt will be offered as red meat, the torturer-in-chief, if it comes to it.  Finger lickin' good. 

 

The higher ups don't know anything about anything about nothing.  They barely know what day it is, or what their favorite magazines and newspapers might be.  Well, in a few cases we could believe it.

 

Like CEOs, and thoroughly modern managers,  they are paid astronomical sums of money, and hold tremendous power.  But when something goes wrong, they audaciously claim to have been walking around in an uninvolved, Alzheimer's like fog, oblivious to the workings of their own organizations, and unaware of their own decisions and directives. 

 

And if they know the right people, and the locations of enough of the bodies, they can make that story stick.

 

Being a card carrying member of the privileged class means never having to say I'm sorry, much less 'not guilty.'  Power is doing what you want when you want, and consequences are for everyone else.

 

Or perhaps these titans of modern industry and the halls of moneyed power are at heart just good natured bumblers.  In a misguided but since belief destroy lives and crash economies, while pursuing insane ideological theories put forward by the vested interests, all the while stuffing their pockets,  and crushing dissent with the political skills of a Machiavelli and the ruthlessness of Al Capone.

 

The banality of banking.

 

They are just hapless and good natured bumblers.  And they love dogs and children.  Remember when Uncle Al accidentally dropped the Thanksgiving turkey?  Ho ho was that funny.  Bad on him. 

 

Let's see if gold can break out here without too many other gyrations or retests.

 

FOMC meeting next week.  Russian Central Bank meets on Thursday.

 

Have a pleasant evening.

 

 

 

SP 500 and NDX Futures Daily Charts - A Cold Shot Baby

There was quite a bit of talk today about the Sony hack attack, and gossipy emails about from a  director calling Angelina Jolie a 'spoiled brat.'   This was a major preoccupation today on Bloomberg TV. 

You couldn't trade baseball cards off the information that they provide.   Carla Hall on The Chew offers more balanced economic commentary.

Maybe if the same Hollywood artiste had written snarky emails about the homeless and the hungry, the ongoing collapse of the middle class, or the pervasive culture of fraud in high places, we might have heard about that.  Probably not.

Hey did you hear the one about the Wall Street Banker calling Malala a spoiled brat?   Malala.  Is she on Survivor?  Who does her clothes?

Well, at least they did not have to spend any time talking about serial perjury and gratuitous torture for its own sake.  Or the general chaos into which the Anglo-American empire is falling.  Or the serial policy failures of a Federal Reserve fully captured by the moneyed interests.

Cultural vacuity, bad paper, and financial fraud are our major exports.

 

To paraphrase that other black hole of banality Richard Nixon, We are all Kardashians now.

Stocks took a cold shot today, with a half hearted attempt to rally giving way to end of day selling.

If one looks at the retracement levels, this is just a minor correction back to support so far.

Let's see if we get a bounce that sticks here. I took the profits on my index shorts, and will have to think hard about getting back in on that.  Downsides are dodgy in the land of easy money and insatiable elitists.

Have a pleasant evening.

 

 

 

Rigging Justice: More Tales of the New Oligarchy and the Supreme Court

"The sad truth is that most evil is done by people who never make up their minds to be good or evil."

Hannah Arendt

"Those who have crossed

With direct eyes, to death's other Kingdom

Remember us - if at all - not as lost

Violent souls, but only

As the hollow men
The stuffed men."

T. S. Eliot

The power of Big Money is often ostentatious, heavy with sanctimonious ceremony and media envy, but sometimes it is even more powerfully subtle.

The Supreme Court has a limited docket, and apparently a penchant for choosing certain lawyers of repute to bring cases before them.

 So Big Money hires those lawyers.

The people tend to vote for the less repugnant of the choices that the two political parties in their elections.

So Big Money gets ahead of the curve and pre-selects the candidates from the two major parties.

How can you fail to win the debate when you frame the questions, pick the debaters, and control how it is reported and scored?

 

Where are the great minds, the outstanding leaders, the moral beacons?   Has greed overwhelmed all virtue, leaving only shallow passions and self-deceptions?  Have we become an audience of cynical voyeurs in a digital Colosseum?

 

We are becoming a nation of waiters, bankers, and corporate-sponsored intellectual bordellos.  We can commit despicable, even heinous acts, and think we can rationalize and lie our way out of almost anything.  Winning!

Death by cynicism and expediency in the latter days of Empire.

 

And justice, for some.

"The Reuters examination of the Supreme Court's docket, the most comprehensive ever, suggests that the justices essentially have added a new criterion to whether the court takes an appeal - one that goes beyond the merits of a case and extends to the merits of the lawyer who is bringing it. The results: a decided advantage for corporate America, and a growing insularity at the court.

Some legal experts contend that the reliance on a small cluster of specialists, most working on behalf of businesses, has turned the Supreme Court into an echo chamber - a place where an elite group of jurists embraces an elite group of lawyers who reinforce narrow views of how the law should be construed...

The court generally has a conservative, pro-business majority, but even one of its most liberal justices, Ruth Bader Ginsburg, accepts the corporate tilt of the specialist bar that dominates the docket."Business can pay for the best counsel money can buy. The average citizen cannot," Ginsburg said. "That's just a reality."

Read the entire story at Esquire here.

Weaponizing Social Science: Pentagon Plans To Shape and Control Mass Civil Breakdowns

 

To protect and promote our vital corporate interests with advanced social techniques, a compliant press, and boatloads of dark money, at home and abroad.

 

Managing perceptions. 

O brave new world, that has such creatures in it.

We had a dream.  And now its becoming a nightmare.

We come in peace.

 

"A US Department of Defense (DoD) research programme is funding universities to model the dynamics, risks and tipping points for large-scale civil unrest across the world, under the supervision of various US military agencies...

Social science is being militarised to develop 'operational tools' to target peaceful activists and protest movements....

Minerva-funded social scientists tied to Pentagon counterinsurgency operations are involved in the "study of emotions in stoking or quelling ideologically driven movements," he said, including how "to counteract grassroots movements."



Prof David Price, a cultural anthropologist at St Martin's University in Washington DC and author of Weaponizing Anthropology: Social Science in Service of the Militarized State, "when you looked at the individual bits of many of these projects they sort of looked like normal social science, textual analysis, historical research, and so on, but when you added these bits up they all shared themes of legibility with all the distortions of over-simplification. Minerva is farming out the piece-work of empire in ways that can allow individuals to disassociate their individual contributions from the larger project."

Minerva is a prime example of the deeply narrow-minded and self-defeating nature of military ideology. Worse still, the unwillingness of DoD officials to answer the most basic questions is symptomatic of a simple fact – in their unswerving mission to defend an increasingly unpopular global system serving the interests of a tiny minority, security agencies have no qualms about painting the rest of us as potential terrorists."

Read the entire story in The Guardian here.