Stocks and Precious Metals Charts - The Wild Ones

"Fellow-citizens, we cannot escape history.  We of this Congress and this administration, will be remembered in spite of ourselves. No personal significance, or insignificance, can spare one or another of us.

The fiery trial through which we pass, will light us down, in honor or dishonor, to the latest generation.  We say we are for the Union.  The world will not forget that we say this.  We know how to save the Union.  The world knows we do know how to save it.  We -- even we here -- hold the power, and bear the responsibility.  In giving freedom to the slave, we assure freedom to the free -- honorable alike in what we give, and what we preserve.

We shall nobly save, or meanly lose, the last best hope of earth.  Other means may succeed; this could not fail.  The way is plain, peaceful, generous, just -- a way which, if followed, the world will forever applaud, and God must forever bless."

Abraham Lincoln, December 1, 1862

 

Stocks tried to sustain a bounce back higher again today, but alas it was not to be.

The dip-buying bulls were whip-sawed, in the finest Wall Street tradition.

Gold and silver were hit rather hard, but managed to finished unchanged for gold, and just a bit lower for silver.

The dollar also finished largely unchanged.

The Recovery seems to be headed in the wrong direction.

Tomorrow we will again remember the sad events of 9/11/2001.

We are expecting heavy rains this evening.

Stormy weather.

Have a pleasant evening.

Stocks and Precious Metals Charts - Destroyer of Markets - Audacious Oligarchy

“A lie that is half-truth is the darkest of all lies.”

Alfred Lord Tennyson


“Pay no attention to the man behind the curtain!”

Noel Langley, The Wizard of Oz, screenplay


"I know nothing that I may say can influence you. You have no souls to be influenced. You are spineless, flaccid things. You pompously call yourselves Republicans and Democrats.  You are lick-spittlers and panderers, the creatures of the Plutocracy."

Jack London, The Iron Heel


“Each day we are becoming a creature of splendid glory, or one of unthinkable horror.”

C. S. Lewis

Stocks bounced today.

This was somewhat expected as noted yesterday. Their declines had reached the fibonacci retracements for a correction.

Gold and silver also had healthy bounces today.

Gold is a trading range.

Silver is in an intermediate consolidation pattern.

The Dollar laid off a bit from its recent gains.

Donholio continues to harm his chances for the next election by boasting or otherwise revealing things that he did.    In this latest he confessed, over a recorded phone call, to Bob Woodward that he had purposely downplayed the virulence and threat of the coronavirus pandemic.

This will be excused, or simply be ignored, by the true believers and kindred souls. And as always, those who cannot recall, or could not have known.

"And we can carry on the practice of charity and prayers in our daily lives, in the little things, if we can take the first step when called. It is that first step, away from the path of selfishness and death, and into the arms of love and true life, that is the key.  The first step out of the darkness and into the light is the hardest.  But once there, in that loving and hospitable place, our true home for which we were made, we find comfort and place, and pray that we may never leave."     Jesse, April 2014 

Repentance, forgiveness, thankfulness.

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

Have a pleasant evening.

Stocks and Precious Metals Charts - The Fed Is On the Case

The banks were central to the scheme from the inception as they spent years and many hundreds of millions of dollars to overturn Glass-Steagall to allow this coup de grâce to be delivered to all holders of US dollars.

PBS Frontline: The Long Demise of Glass-Steagall


"The man who is admired for the ingenuity of his larceny is almost always rediscovering some earlier form of fraud. The basic forms are all known, have all been practiced. The manners of capitalism improve. The morals may not."

John Kenneth Galbraith


"We didn't truly know the dangers of the market, because it was a dark market," says Brooksley Born, the head of an obscure federal regulatory agency -- the Commodity Futures Trading Commission [CFTC] -- who not only warned of the potential for economic meltdown in the late 1990s, but also tried to convince the country's key economic powerbrokers to take actions that could have helped avert the crisis. "They were totally opposed to it," Born says. "That puzzled me. What was it that was in this market that had to be hidden?"

Brooksley Born, PBS Frontline, The Warning

Stocks took a dive into the open,and despite some hopeful dip-buying, closed off near the lows into the close.

Gold and silver were hit hard but recovered, and unlike stocks managed to hold on.

The dollar rallied, and the VIX rose.

It is hard to tell, but it seems as though stocks have declined all that they will IF this is just a correction.

So some day this week we might expect to see a rally. And that will set up a classically risky September scenario for bubbles that I call 'the rally that fails.'

I include a chart below that shows this for the reference years of 1929 and 1987.  It also worked for 2008.

Have a pleasant evening.

Stocks and Precious Metals Report - Carnival of Deceit - I See It Coming

"They [moneyed interests] are ruthlessly going forward to eliminate land, labour, entrepreneurial-managerial skills, and everything else the economists once told us were the chief elements of production. The only element of production they are concerned with is the one they can control: capital."

Carroll Quigley, The State of the Individual


"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."

Upton Sinclair, The Brass Check


"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


“Abashed, the devil stood, and felt how awful goodness is, and saw Virtue in her shape how lovely: and pined his loss.”

John Milton, Paradise Lost


"Jim, lad, there be consequences an' then there be consequences. Devil take 'em all, says I, and pass aft the rum."

Robert Louis Stevenson, Treasure Island

The Jobs Report came in a little light this morning, despite a determined effort to adjust it upwards.

The solution was to pretend that it didn't, and focus on other, more pliable numbers like the short term unemployment rate.

Despite this stocks sold off rather hard, hitting deep into the Fibonacci retracements.  I am still struggling a bit in placing them, given the distortions of the markets.  More data may clarify them.

But again, the solution was to wait until the rest of the world went home for the evening, and the markets became quiet, and try to paint the tape positive.

M2 is running at 23% growth, year-over-year.

Distorting and distracting has become the method to their madness.

This is like a bad remake of the Dot.com bubble and crash, with lower morals and pervasive effects.

I see it coming. I do not know yet when it will arrive in force. But we are on our way, with a will to it.

The US markets will be closed on Monday for the Labor Day Holiday.

Have a pleasant weekend.