Stocks and Precious Metals Charts - Wall Street: Where the Elite Meet to Cheat

"Trump makes worse an already problematic situation with pensions.  So whimsical. POTUS makes an historic monetary policy decision by endorsing negative interest rates, probably unaware of the epic controversy that he opened by doing so. Savers and pensioners thrown under the bus!

This is why I think a comprehensive and in a sense 'final' global financial crisis is so likely.  It will provide the cover for massive debt write-offs, but also painful and scary policy innovations (going cashless, positive money, digital moneys, global monetary reset etc).

Bernanke was not a hero, but rather an historic villain, pitting bankers against the people in that centuries long struggle.  True, the Federal Reserve as a whole failed society, with NY Fed leading the effort to preserve and revitalize its own major members. Yes one should not blame Bernanke alone. The entire Fed was at fault. Then in the wake, the Fed bailed out the banks.  He had huge regulatory powers that could have been applied to cleanse banking system and impose transparency but he declined that opportunity in favor of propping up the same system that brought us the Great Financial Crash."

Dr. Harald Malmgren

Busy day today.

The wiseguys were also busy, trying to keep gold around $1500 and silver at $18.

They had their hands full today. I hope they didn't strain themselves.

Stocks were listless after their recent run higher.

It is like the boys in the pits are looking around thinking, 'ok we squeezed the shorts and ran them up. Now what are we going to do?'

There will be another Democratic Debate tonight. Let's see if Uncle Joe can keep his wits about him.

The corporatists are counting on him.

Sanders and especially Warren are making Wall Street and the moneyed interests very nervous. Look for the smearing and propaganda to get kicked up a notch. Things are probably going to get uglier before they get better.

Have a pleasant evening.

Stocks and Precious Metals Charts - All Along the Watchtower

"There must be some way out of here
Said the joker to the thief
There's too much confusion
I can't get no relief
Businessmen, they drink my wine
Plowmen dig my earth
None of them along the line
Know what any of it is worth.

No reason to get excited
The thief he kindly spoke
There are many here among us
Who feel that life is but a joke
But you and I, we've been through that
And this is not our fate
So let us not talk falsely now
The hour is getting late."

Bob Dylan

It was another Tweet-olini inspired risk on day as stocks soared in a patriotic response to Trump's announcement that he is considering relaxing some of his sanctions on Iranian oil.

He also said the 'boneheads' at the Fed should be lowering interest rates to zero and below. Because the economy is just that strong.

I still do not regret never having voted for Hillary, or Bill for that matter.

But Trump exceeds all expectations of a truly tragic choice made by a long abused public in their desperation and anger.  One only wonders how much further he will go before he completely and utterly implodes.   Although we are not yet at our LBJ or Nixon moments, we are on our way.

I still don't think Trumpolini will serve out his full term, much less be elected to a second, unless the Dumbocrats run some stiff like Biden or gasp, bring back Hillary.

So many things are yet to be revealed.  But we are certainly finding out a lot about ourselves.

It is interesting that while the VIX was lower and stocks were ramped up towards new highs into a relatively quiet close, gold and silver and the dollar were also higher.

After the bell Oracle announced its earnings a day early with a miss, and disclosed that its CEO is taking a leave of absence for health reasons. But they are using this low interest rate regime to buy back more of their stock.

Nothing has changed. Not one thing.

And WTC7 did not drop in a freefall because of nearby fires.

Our hypocrisy, and capacity for self-delusion, knows no bounds.

Have a pleasant evening.

Stock And Precious Metals Charts - Risk On - Wall Street Says Not To Worry About Anything

“Dogma gave every man importance only in so far as the tribe was important and he was a member of the tribe.  If the good had been twice as good and the bad only half as bad, I still ought to have seen it.  But I didn't want to see it, because I would have then had to think about the consequences of seeing it, what followed from seeing it, what I must do to be decent.”

Milton Mayer, They Thought They Were Free


"The wealth of another region excites their greed; and if it is weak, their lust for power as well.  Nothing from the rising to the setting of the sun is enough for them. Among all others only they are compelled to attack the poor as well as the rich.  Plunder, rape, and slaughter they falsely call empire; and where they make a desert, they call it peace."

Tacitus


"If we can save the Banks, we can save the world."

Greta Thunberg

Not one thing has changed.

Except that greed and gullibility are enhancing the conscious mispricing of risk, again.

Roll out the smoke and mirrors, get everyone all excited about nonsense, rewind the narratives and slogans, and let's do it all over again.

All is well in the United States of Amnesia. 

Have a pleasant evening.

Matt Taibbi, Katie Halper, and Jimmy Dore: Why Is the Media So Bad

"Always fight for progress and reform, never tolerate injustice or corruption, always fight demagogues of all parties, never belong to any party, always oppose privileged classes and public plunderers, never lack sympathy with the poor, always remain devoted to the public welfare, never be satisfied with merely printing news, always be drastically independent, never be afraid to attack wrong, whether by predatory plutocracy or predatory poverty.”

Joseph Pulitzer, Retirement address


"Day by day the money-masters of America become more aware of their danger, they draw together, they grow more class-conscious, more aggressive.  The [first world] war has taught them the possibilities of propaganda; it has accustomed them to the idea of enormous campaigns which sway the minds of millions and make them pliable to any purpose.  American political corruption was the buying up of legislatures and assemblies to keep them from doing the people's will and protecting the people's interests; it was the exploiter entrenching himself in power, it was financial autocracy undermining and destroying political democracy."

Upton Sinclair, The Brass Check


"It’s not just political spin, however, that explains the rose-colored coverage [in the media]. Another explanation is that the media is plain stupid — quick to accept guidance from economists on Wall Street, for example, who have a vested interest in making everything wonderful."

John Crudele, Americans Have Not Gotten a Raise In 16 Years


"In 1983, 50 corporations controlled most of the American media, including magazines, books, music, news feeds, newspapers, movies, radio and television.  By 1992 that number had dropped by half.  By 2000, six corporations had ownership of most media, and today five dominate the industry: Time Warner, Disney, Murdoch's News Corporation, Bertelsmann of Germany and Viacom."

Independent Lens, Democracy on Deadline


"The elite want to keep us fighting left and right, so we don't pay attention to the top-down."

Jimmy Dore