Stocks and Precious Metals Charts - The Hollow Men - Life in the Golden Age of Fraud

 

"This is the Golden Age of fraud, an era of general willingness to ignore and justify the wrongdoings of the rich and powerful, which makes every lie bigger and widens its destructive path.”

 Reed Albergotti 

 

"His money came from human misery and death and despair, as always it does.  Yet, there is none to reproach him, neither God nor man, and all fawn upon him and he will be a senator and crowds will laud him and he will have the ear of the President and all will honor his riches and consider him worthier than others." 

Taylor Caldwell 

 

"People of privilege will always risk their complete destruction rather than surrender any material part of their advantage. Intellectual myopia, often called stupidity, is no doubt a reason.  But the privileged also feel that their privileges, however egregious they may seem to others, are a solemn, basic, God-given right." 

John Kenneth Galbraith 

 

“A true opium of the people is the belief in nothingness after death, the huge solace, the huge comfort of thinking that for our betrayals, our greed, our cowardice, our murders, that we are not going to be judged.” 

 Czeslaw Milosz 

 

"With tears in my eyes I tell you now that some may be lost, forever.   For their own desires are the god that they worship.  They boast with pride about things of which they should be ashamed.  They think only about the privileges and glories of this world. " 

Phillipians 3:19-20 

 

There will be a stock index market option expiration on Friday. 

Gold and silver were hit in the currency crosses on the New York open, and the Dollar rallied. 

 I think you have heard my premise before, that there is a growing shortage of physical gold available for delivery. 

From this flows many of the things which we are seeing. 

A collapse of a long standing scheme such as the current gold pool declines slowly, and then suddenly. 

 Be careful of what you put into your minds.   There are those who seek to incite your anger and fear, and thereby change you and influence you to their ends.

This is the golden age all right— of fraud. 

And all the fashionable people are doing it, with a passionate intensity.

Have a pleasant evening. 

 

Stocks and Precious Metals Charts - Risk On

"Perfection, of a kind, was what he was after,

And the poetry he invented was easy to understand;

He knew human folly like the back of his hand,

And was greatly interested in armies and fleets;

When he laughed, respectable senators burst with laughter,

And when he cried, the little children died in the streets." 

W. H. Auden, Epitaph To a Tyrant 

 

Stocks were in risk on rally mode today. 

The usual suspects were large and in charge. 

The Banks start to report earnings tomorrow with serial felon JPM leading off. 

Today was Thanksgiving Day in Canada, eh? 

Happy Thanksgiving you hosers. 

Gold and silver were a little lower and the Dollar was unchanged. 

 Have a pleasant evening. 

 

Stocks and Precious Metals Charts - Just Because - Time Is a Flat Circle

"Time is a flat circle.  Everything we have done or will do we will do over and over and over again— forever.  This place is like somebody's memory of a town, and the memory is fading.  It's like there was never anything here but jungle. "

 Rust Cohle, True Detective

 

Stocks were in rally mode today. 

 Like the song says, 'Just Because.' 

The VIX was lower, which seems to indicate a 'risk on' attitude. 

But interesting, the Dollar was sharply lower. 

And gold, and especially silver, were also in rally mode, with silver getting its beta on. 

So what's up with this. 

Well, as I had mentioned, China returned to business this week, after celebrating National Day.

Perhaps it is a little more complex than the spokesmodels and bull market geniuses may allow. 

As you may have noticed my posting has been brief lately. 

I have been struggling with an eye problem for the past week or so.   Reading, especially from a computer screen, has been fatiguing.  

I threw in the towel on over-the-counter seasonal allergy and traditional treatments, and went to see my ophthalmologist earlier this week.  Normally I just see him once a year.

Pain is a wonderful motivator to try something new. 

And it appears I have an eye infection that was worsening.   

I don't know how it got infected. I have never had this happen before. 

But an array of pricey prescription treatments seems to be improving things. 

 So perhaps I will feel more expansive next week. lol 

Have a pleasant weekend. 

 

Stocks and Precious Metals Charts - The God of the Markets

"At the root of America's economic crisis lies a moral crisis: the decline of civic virtue among America's political and economic elite.   A society of markets, laws, and elections is not enough if the rich and powerful fail to behave with respect, honesty, and compassion toward the rest of society and toward the world." 

Jeffrey Sachs 

 

"As everything in what used to be called creation becomes a commodity, human beings begin to look at one another, and at themselves, in a funny way, and they see price tags. There was a time when people spoke, at least occasionally, of 'inherent worth'— if not of things, then at least of persons."

Harvey Cox, The Market as God

 

"What we need in the United States is not division.  What we need in the United States is not hatred.  What we need in the United States is not violence and lawlessness, but love and wisdom and compassion toward one another, a feeling of justice to those who still suffer in our country." 

 Robert F. Kennedy 

 

"I want to end with the idea that the [unregulated] market is capable of resolving all of our social conflict, fairly and justly.  That is the great idea of the 1990's.  And we all know now what a crock that is.   I think what we need in order to restore some kind of sense of fairness is not the final triumph of markets over the body and soul of humanity, but something that confronts markets, and that refuses to think of itself as a brand." 

Thomas Frank

 

Stocks were in rally mode today, with the big cap techs lagging a bit.

Gold and silver were higher, while the Dollar was essentially unchanged.

Monday is Columbus Day.   While the markets will be open, other financial businesses may be closed.

Have a pleasant evening.