Stocks and Precious Metals Charts - Gold and Silver Roar Higher - The Fed Owns a Printing Press

Please let it work this time!

"The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated communist, but people for whom the distinction between fact and fiction, true and false, no longer exists.”

Hannah Arendt, The Origins of Totalitarianism


"It is a far, far better thing to have a firm anchor in nonsense than to put out on the troubled seas of thought."

John Kenneth Galbraith, The Affluent Society

It sometimes seems like we have cast off from our anchor even in nonsense, and have set ourselves adrift on a sea of make believe, if not wanton fantasy.

Stocks went roaring higher, going limit up last night, as the Fed has declared its intentions to underpin the markets to an extraordinary degree.

And so in response to this cash bazooka blast gold and silver went ripping higher today.

This was no safe haven buying, as was shown in the soaring risk assets and declining dollar.

No, this was a rush to sound money, and protection against future monetary debasement.

Gold in particular was tough for some to track. The popular Kitco site was completely off for most of the day in their gold quotes.

The appropriate quote could be found by looking at the futures front month which is April.

Adding to this blast in gold is word of an increasing physical short squeeze in NY and in London.

This was blamed of course on supply chain problems caused by the coronavirus.

Funny how the Comex warehouse reports show plenty of gold available in the NY vaults. Uh huh.

There will be a metals option expiration on the Comex on the 26^th.

Trump says he wants America back and open for business by Easter.  He discussed it with some powerful hedge fund operators this morning and they seem to have agreed.

His medical and scientific advisors, not at all.

This should prove to be interesting.

Need little, want less, love more, for those who abide in love abide in God, and God in them.

Have a pleasant evening.

Feeding the Fires of Moloch

"Power will achieve its murderous potential.  It simply waits for an excuse, an event of some sort, an assassination, a massacre in a neighboring country, an attempted coup, a famine, or a natural disaster, to justify the beginning of murder en masse."

R. J. Rummel


"A culture that does not grasp the vital interplay between morality and power, which mistakes management techniques for wisdom, and fails to understand that the measure of a civilization is its compassion, not its speed or ability to consume, condemns itself to death.”

Chris Hedges


"The inability to identify with others was unquestionably the most important psychological condition for the fact that something like Auschwitz could have occurred in the midst of more or less civilized and innocent people. What is called 'fellow traveling' (collaboration) was primarily business interest: one pursues one’s own advantage before all else and, simply not to endanger oneself, does not talk too much. That is a general law of the status quo."

Theodor Adorno


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."

Commemorative Tablet at Tiergartenstraße 4, Berlin

The Aktion T4 Programme provided the expertise, the administrative practices, and the bureaucratic rationales required to build the mass extermination facilities and the camps for designated victims.

The beginning of social Darwinism is financial Darwinism, the unjust and willful allocation of means and opportunity.  This enriches the favored, and permits the oppressed to be more easily labeled as inferior, useless eaters, life unworthy of life. 

Thinning their ranks at a distance becomes easy to rationalize, and after a time a purely practical routine, like cutting the grass.

The root of it all is greed, pride, and the will to power, the desire of a select few to determine the value of all life, and to define both good and evil.  And they see themselves as the ultimate good. 

Their handiwork is not life, but a profound emptiness, the abomination of desolation.

They never have enough. Not enough money, not enough power, not enough killing. They cannot give life, so they will bring death.  They fear weakness and death, so they attempt to be its master.

They would be as gods.  And in their pride they make themselves, and all those around them, not masters but monsters.

Stocks and Precious Metals Charts - A Flight to Sound Money - Fed Attempts Rescue, Leadership Shameless

"Good and bad coin cannot circulate together... and because of this unexampled state of badness all the fine gold was conveyed out of your realm."

Thomas Gresham, Letter to Queen Elizabeth, 1558


“Now, as he [Thomas Gresham] was the first [he wasn't] to perceive that a bad and debased currency is the cause of the disappearance of the good money, we are only doing what is just in calling this great fundamental law of the currency by his name.  We may call it Gresham's law of the currency.   Bad coin invariably and necessarily drives out good coin from circulation.”

Henry Dunning Macleod, The Elements of Political Economy, 1858


"Behind the concrete, the visible events, behind all objective, logical considerations, we find the irrational element: The struggle against the demon, against the servants of the Antichrist.

Everywhere and always demonic powers lurk in the dark, waiting for the moment when man is weak; when of his own volition he leaves his place in Creation, as founded for him by God in freedom; when he yields to the force of evil, he separates himself from the powers of a higher order; and after voluntarily taking the first step, he is driven on to the next and the next at a furiously accelerating rate."

The White Rose, Fourth Leaflet, Munich 1942

No elected body with a fiduciary responsibility, and any remnant of a conscience, should ever hand over a sum like $500 billion for disbursement to corporations to any presidential administration without clear conditions, transparency, and oversight. Especially after the abuses uncovered from the bailouts of the last financial crisis.  But needs must for those with no shame.

The Modern Moloch

Stock futures went limit down shortly after they opened on Sunday night. The Fed threw the kitchen sink at the markets this morning, and managed to hold stocks from falling out of bed completely.

Gold and silver caught a definite bid, as the whiff of monetary mischief permeated the markets.

I read an opinion piece from one of the usual suspects which blames our current state of affairs on the working public for their dissolution and extravagance in wanting to have such things as phones.

These are the same jokers who are still saying that this pandemic is all media hype, and that losing a few hundred thousand people dead would be well worth it, if we could only maintain the financial status quo of plunder capitalism.  They should do some field research in northern Italy.

It always seems unreal until it hits closer to home, as it did in our little town today.

This reaction to the collapsing bubble is like a replay of 2008. Or 2002. Well, you get the idea.  Just another round of shenanigans from our sociopathic elite.

There will be a Comex precious metals option expiration on Thursday the 26^th.

This is not over yet, not by a long shot.

The world does not love you, as God loves you, and the madness serves none but itself.

Have a pleasant evening.

US Futures Sunday Evening

Stocks slumped badly on the open at 6 PM Eastern time.

Limit down, right from the open.

They have since bounced a little off the lows. But I expect this to be another rough start for the week.

I decided that I needed to expand the charts a bit, and pick up some of the prior lows from the past.

The hit on the NDX chart support level was gratifying when I sketched it out.