21 January 2020

Stocks and Precious Metals Charts - In Time of Plague


"...The broken wall, the burning roof and tower
And Agamemnon dead."

W. B. Yeats, Leda and the Swan


"Beauty is but a flower
Which wrinkles will devour;
Brightness falls from the air;
Queens have died young and fair;
Dust hath closed Helen’s eye.
I am sick, I must die.
Lord, have mercy on us."

Thomas Nashe, A Litany In Time of Plague

Stocks came in weakly from the overnight trade, but found a bit of a toehold in the NY trading.

They managed to finish off nearly unchanged, but are looking tired and overbought.

The blame for this weakness was assigned by the spokesmodels to the appearance of the new Wuhan China viruswhich has made its first appearance in the US.

The cause is a virus. But it is a virus that has been growing and festering in the US for decades.  It is a virus of the mind and the heart, and if unresolved a sickness unto death.

Gold and silver finished off a bit along with the Dollar.

Gold was once again quite strong in the overnight trade, but was sold down again in the early hours of NY trading.

After the bell Netflix was off on a weaker than expected forecast for the first quarter.

What will break the bubble this time?   We are so forgetful, so faithless.

Have a pleasant evening.





Reprise: Those Willfully Blind to Lawlessness


Roland Freisler, Official of Lies and Lawlessness
"The perpetrators were scholars, doctors, nurses, justice officials, the police and the health and workers’ administration.

The victims were poor, desperate, rebellious or in need of help. They came from psychiatric clinics and childrens hospitals, from old age homes and welfare institutions, from military hospitals and internment camps.

The number of victims is huge, the number of offenders who were sentenced, small."

Commemorative Tablet at Tiergartenstraße 4, Berlin

Most people are unaware or simply overlook the actions of the German government that began in 1939, in which the State, with the active cooperation of the medical and legal professions, began the systematic murder of people who were physically and mentally inferior, at least according to the judgement of the State.

This was view as a necessary but 'lesser evil' for the prosperity of the fortunate.  And it was the beginning of a slide into the abyss.

Die Weiße Rose observes that 'German intellectuals fled to their cellars, there, like plants struggling in the dark, away from light and sun, gradually to choke to death.'

One cannot blame the educated class in some ways, since from the very beginning the National Socialists were backing their words with violent street thugs in brown shirts.   And as for the working class, they were easily manipulated in their lack of cunning and experience, and their stubborn foolishness.

But what is so contemptible is that many among the very wealthy and the highly trained professional classes threw themselves into the arms of the power or evil, thinking that they could control it and benefit from it for their own selfish purposes.

Selfishness and greed and fear.

But even if we rightfully condemn the failure of those whose obligation it is to speak, how often are we seeing this and ignoring it in our own time?

When the economy was very obviously building towards the financial crisis of 2008, how many economists were ignoring the bubble conditions, preferring to keep their noses in their statistics, a willful condition of 'data blindness.'

How many lawyers and politicians look at outrageous miscarriages of justice and say and do nothing?
How many of those who have been blessed by circumstances sit back and smugly attribute their good fortune to their natural superiority as a the new ubermenschen, superior people?

It is not safe to see too much, and even less safe for the career minded to speak out against the actions of powerful insiders who control the benefactions of position, and the perks of the privileged class.

It is much more judicious to hide one's nose in a selective book of statistics, ignoring the reality, and relying instead on being data blind or ideologically blind to what is really happening.

It is easier to say 'I didn't know of this injustice' and afterward, 'who could see such a thing approaching?'

And then to do it all over again.

The White Rose
Second Leaflet

Munich, 1942

We will not be silent.

It is impossible to engage in intellectual discourse with National Socialist philosophy, for if there were such an entity, one would have to try by means of analysis and discussion either to prove its validity or to combat it. In actuality, however, we face a totally different situation.

At its very inception this movement depended on the deception and betrayal of one's fellow man; even at that time it was inwardly corrupt and could support itself only by constant lies. After all, Hitler states in an early edition of "his" book (a book written in the worst German I have ever read, in spite of the fact that it has been elevated to the position of the Bible in this nation of poets and thinkers): "It is unbelievable, to what extent one must betray a people in order to rule it."

If at the start this cancerous growth in the nation was not particularly noticeable, it was only because there were still enough forces at work that operated for the good, so that it was kept under control. As it grew larger, however, and finally in an ultimate spurt of growth attained ruling power, the tumor broke open, as it were, and infected the whole body.

The greater part of its former opponents went into hiding. The German intellectuals fled to their cellars, there, like plants struggling in the dark, away from light and sun, gradually to choke to death.

Now the end is at hand. Now it is our task to find one another again, to spread information from person to person, to keep a steady purpose, and to allow ourselves no rest until the last man is persuaded of the urgent need of his struggle against this system. When thus a wave of unrest goes through the land, when "it is in the air," when many join the cause, then in a great final effort this system can be shaken off.

After all, an end in terror is preferable to terror without end.

We are not in a position to draw up a final judgment about the meaning of our history. But if this catastrophe can be used to further the public welfare, it will be only by virtue of the fact that we are cleansed by suffering; that we yearn for the light in the midst of deepest night, summon our strength, and finally help in shaking off the yoke which weighs on our world.

We do not want to discuss here the question of the Jews, nor do we want in this leaflet to compose a defense or apology. No, only by way of example do we want to cite the fact that since the conquest of Poland three hundred thousand Jews have been murdered in this country in the most bestial way.

Here we see the most frightful crime against human dignity, a crime that is unparalleled in the whole of history. For Jews, too, are human beings - no matter what position we take with respect to the Jewish question - and a crime of this dimension has been perpetrated against human beings.

Someone may say that the Jews deserve their fate. This assertion would be a monstrous impertinence; but let us assume that someone said this - what position has he then taken toward the fact that the entire Polish aristocratic youth is being annihilated? (May God grant that this program has not yet fully achieved its aim as yet!)

All male offspring of the houses of the nobility between the ages of fifteen and twenty were transported to concentration camps in Germany and sentenced to forced labor, and all the girls of this age group were sent to Norway, into the bordellos of the SS!

Why tell you these things, since you are fully aware of them - or if not of these, then of other equally grave crimes committed by this frightful sub- humanity? Because here we touch on a problem which involves us deeply and forces us all to take thought.

Why do German people behave so apathetically in the face of all these abominable crimes, crimes so unworthy of the human race? Hardly anyone thinks about that.

It is accepted as fact and put out of mind. The German people slumber on in their dull, stupid sleep and encourage these fascist criminals; they give them the opportunity to carry on their depredations; and of course they do so.

Is this a sign that the Germans are brutalized in their simplest human feelings, that no chord within them cries out at the sight of such deeds, that they have sunk into a fatal consciencelessness from which they will never, never awake?

It seems to be so, and will certainly be so, if the German does not at last start up out of his stupor, if he does not protest wherever and whenever he can against this clique of criminals, if he shows no sympathy for these hundreds of thousands of victims. He must evidence not only sympathy; no, much more: a sense of complicity in guilt.

For through his apathetic behavior he gives these evil men the opportunity to act as they do; he tolerates this "government" which has taken upon itself such an infinitely great burden of guilt; indeed, he himself is to blame for the fact that it came about at all...

Please make as many copies of this leaflet as you can and distribute them.

20 January 2020

Martin Luther King Day


"And some of us who have already begun to break the silence of the night have found that the calling to speak is often a vocation of agony, but we must speak.  We must speak with all the humility that is appropriate to our limited vision, but we must speak."

Martin Luther King, A Time to Break the Silence,  Riverside Church, 4 April 1967


"It is a dark day in our nation when high-level authorities will seek to use every method to silence dissent. But something is happening, and people are not going to be silenced."

Martin Luther King, Riverside Church, 30 April 1967


"Take a stand for that which is right, and the world may misunderstand you and criticize you, but you never go alone, for somewhere I read that 'One with God is a majority,' and God has a way of transforming a minority into a majority. Walk with him this morning and believe in him and do what is right and he'll be with you even until the consummation of the ages.

Yes, I've seen the lightning flash, I've heard the thunder roll, I've felt sin's breakers dashing trying to conquer my soul but I heard the voice of Jesus saying still to fight on, he promised never to leave me, never to leave me alone; no, never alone, no, never alone. He promised never to leave me, never to leave me alone.

Wherever you are going this morning, my friends, show the world that you're going with truth. You are going with justice, you are going with goodness, and you will have an eternal companionship.

And the world will look at you and they won't understand you, for your fiery furnace will be around you, but you'll go on anyhow.

But if not, I will not bow, and God grant that we will never bow, before the gods of evil."

Martin Luther King, Ebenezer Baptist Church, 5 November 1967


"And every now and then I think about my own death and I think about my own funeral. And I don't think of it in a morbid sense. And every now and then I ask myself, 'What is it that I would want said?' And I leave the word to you this morning...

If you want to say that I was a drum major, say that I was a drum major for justice. Say that I was a drum major for peace. I was a drum major for righteousness. And all of the other shallow things will not matter. I won't have any money to leave behind. I won't have the fine and luxurious things of life to leave behind. But I just want to leave a committed life behind."

Martin Luther King, 4 February 1968


“Now the problem is not only unemployment.  Do you know that most of the poor people in our country are working every day?  And they are making wages so low that they cannot begin to function in the mainstream of the economic life of our nation.  These are facts which must be seen, and it is criminal to have people working on a full-time basis and a full-time job getting part-time income...

If America does not use her vast resources of wealth to end poverty and make it possible for all of God’s children to have the basic necessities of life, she too will go to hell.”

Martin Luther King, 18 March 1968


"We've got some difficult days ahead. But it really doesn't matter with me now, because I've been to the mountaintop. And I don't mind. Like anybody, I would like to live a long life — longevity has its place.

But I'm not concerned about that now. I just want to do God's will. And He's allowed me to go up to the mountain. And I've looked over, and I've seen the Promised Land. I may not get there with you. But I want you to know tonight, that we, as a people, will get to the promised land.

So I'm happy, tonight. I'm not worried about anything, I'm not fearing any man. Mine eyes have seen the glory of the coming of the Lord."

Martin Luther King, 3 April 1968

The next day Dr. Martin Luther King, Jr. was murdered in Memphis, Tennessee, 4 April 1968, exactly one year to the day after his sermon, A Time To Break the Silence.

This was not a coincidence, these assassinations, these murders.

 This was a message.

Are we not exceptional?    Are you not entertained?







17 January 2020

Stocks and Precious Metals Charts - Cast Assembled, the Stage Is Set - Three Day Weekend


"We’ve surpassed the $400 billion mark… They call it ‘not QE’ because it’s maturities of 12 months or less.  But as of now, we have a $100-billion-per-month run rate of ‘not QE.’”

Danielle DiMartino Booth


"Nations, like individuals, cannot become desperate gamblers with impunity.  Punishment is sure to overtake them sooner or later."

Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds


“But you can't make people listen.  They have to come round in their own time, wondering what happened and why the world blew up around them.”

Ray Bradbury, Fahrenheit 451

Stocks closed at new momentum highs today.

The stage is being set for a bone-jarring correction I think.

But let's see what happens.  Who but God can measure the depths of avarice and high tides of folly?

Gold and silver were lackluster as the Dollar gained a bit.

The VIX, a measure of the perception of risks, is rather low as shown on the chart.

Monday the markets will be closed for Martin Luther King day.

We may get our first major snowfall this weekend. The winter has been remarkably mild for the holidays.

Have a pleasant weekend.