Gold Daily and Silver Weekly Charts - Going Off the Rails on a Crazy Train

"And what happens when PR turns a profit, and truth goes penniless?"

Bill Moyers

"Insanity is doing the same thing, over and over again, and expecting different results."

Albert Einstein

"Has he lost his mind?

Can he see or is he blind?

Now the time is here

for Iron Man to spread fear."

 

Ozzy Osbourne, Iron Man

 

Most Americans are completely unaware of FIFA or what it does, and only a bit more aware of the World Cup and non-US football.  Unless they are school age children perhaps, the parents of same, or recent immigrants from Europe and South America.

 

The official reason for the US to proceed with prosecutions of FIFA this week, after a 24 year investigation, is that the payoff schemes involved some of the Wall Street Banks.  Since it is unlikely that there will be any action against these same Banks, one wonders as to the reason and the timing for this.

 

This week FIFA was expected to sanction Israel on Wednesday for their truly terrible treatment of Palestinian football clubs.   And the US was perturbed that Qatar was chosen as the 2022 World Cup host, despite their awful human rights record, and record donations to the Clinton Fund, and loyalty to the US ambitions in the Mideast.   And finally, FIFA dared to award the 2018 World Cup to Moscow.   

 

Have you noticed that this FIFA prosecution, which so few understand and care about in the States, is getting so much more media coverage than the latest massive thefts by the Banks in wholesale rigging in the forex markets, for which no one is being prosecuted and no serious reforms are being undertaken?  There are risks in standing in any way against the will of an empire.

And besides, FIFA is THEIR scandal, and it serves to distract from OUR scandals.

 

Speaking of gold, it appears that Austria has decided that the risks of storing its sovereign gold in London are too great, and are repatriating it home.   As well they may, because in the times that are just ahead, we might suspect that possession will be nine-tenths of the law, MF Global-style.

 

Gold and silver are quite obviously in some sort of locked down trading range.    Gold will become much more interesting next week as June is an active month, and the leverage on the deliverable portion of the Comex gold warehouses is historically rather high, indicating higher prices ahead.

 

Of course, that is not the way things work necessarily in The Bucket Shop on the Hudson.   The gold game in the US benefits The Central Bank storytelling, and the Banks, who 'make markets,' or make-up markets to suit themselves and their trading profits.  It is quite lucrative as we have seen in so many other cases like is such as LIBOR, forex, derivatives, and so forth.

 

On a final note, it must seem like madness to the non-US observers, what the Fed is doing with QE and top down stimulus.  Well not to the Brits, because they have taken such madness to heart, or the Continent, which is visiting senseless misery now on Greece, and a number of the usual suspects yet to come, until they finally make they way around to the volks at home.

 

And so here we are, running off the rails on the neo-con and neo-liberal crazy train.   

 

Have a pleasant evening.

Related:  Down With FIFA!  Next World Cup Should Be in the US

 

 

 

 

 

 

 

 

 

SP 500 and NDX Futures Daily Charts - And Quiet Flows the Con

"In the eyes of empire builders, men are not men but instruments."

Napoleon Bonaparte

Stocks had a bit of a bobble this morning on the much worse than expected unemployment claims number.

But Wall Street came to its senses, and realized how little the average American matters in the greater scheme of things anymore.

Let's see how stocks go into the weekend.

Timing will be a bit of a chore, but I suspect that a market break is due sometime this year.

Have a pleasant evening.
 

 

 

Gold Daily and Silver Weekly Charts - Nothing New

"This disposition to admire, and almost to worship, the rich and the powerful, and to despise, or, at least, to neglect persons of poor and mean condition, though necessary both to establish and to maintain the distinction of ranks and the order of society, is, at the same time, the great and most universal cause of the corruption of our moral sentiments.

That wealth and greatness are often regarded with the respect and admiration which are due only to wisdom and virtue; and that the contempt, of which vice and folly are the only proper objects, is often most unjustly bestowed upon poverty and weakness, has been the complaint of moralists in all ages.

We desire both to be respectable and to be respected. We dread both to be contemptible and to be contemned. But, upon coming into the world, we soon find that wisdom and virtue are by no means the sole objects of respect; nor vice and folly, of contempt."

Adam Smith, Theory of Moral Sentiment

אֵין כָּל חָדָשׁ תַּחַת הַשָּׁמֶשׁ

Nihil sub sole novum.

There is nothing new under the sun.

Ecclesiastes 1:9

Their is surely nothing new under the sun, except those who are called and will be held accountable for their labor, under it.

 

Our moderns believe that they have learned to lie, to cheat, and to kill with unsurpassed skill, cleverness, and shamelessness.  

 

They have discovered their will to power.  Or perhaps, the will to power has discovered them.  

 

They think that they have gained some impunity, and have risen above humanity to become as gods.

 

This week will see the last of the May contracts, and the beginning of the active month of June for gold.

Have a pleasant evening.

 

 

 

 

SP 500 and NDX Futures Daily Charts - First and Last

“There was a certain rich man who was splendidly clothed in purple and fine linen and who lived each day in luxury. 20 At his gate lay a poor man named Lazarus who was covered with sores. As Lazarus lay there longing for scraps from the rich man’s table, the dogs would come and lick his sores.

“Finally, the poor man died and was carried by the angels to be with Abraham. The rich man also died and was buried, 23 and his soul went to the place of the dead. There, in torment, he saw Abraham in the far distance with Lazarus at his side.

“The rich man shouted, ‘Father Abraham, have some pity! Send Lazarus over here to dip the tip of his finger in water and cool my tongue. I am in anguish in these flames.’

“But Abraham said to him, ‘Son, remember that during your lifetime you had everything you wanted, and Lazarus had nothing. So now he is here being comforted, and you are in anguish. And there is a great chasm separating us. No one can cross over to you from here, and no one can cross over to us from there.’

“Then the rich man said, ‘Please, Father Abraham, at least send him to my father’s home. 28 For I have five brothers, and I want him to warn them so they don’t end up in this place of torment.’

“But Abraham said, ‘Moses and the prophets have warned them. Your brothers can read what they wrote.’

“The rich man replied, ‘No, Father Abraham! But if someone is sent to them from the dead, then they will repent of their sins and turn to God.’

“But Abraham said, ‘If they won’t listen to Moses and the prophets, they won’t be persuaded even if someone rises from the dead.’”

Luke 16:19-31

 

And so it was then, and is now.

Was yesterday's sharp downdraft in equities just another rinse day in the land of fools and grifters?

 

The global economy has become a deception and then a farce, which will end in tragedy. 

 

And this is because of the greed and self-delusion of a shameless few and their enablers, whose foolishness would make even the angels tremble.

 

It would have been better for them if they had never been born.

Have a pleasant evening.