Stocks and Precious Metals Charts - Sitting On Top of the World - Who Could Have Seen It Coming

 

"Year by year the cost of living increases, and wages, if they move at all, move laggingly, and after desperate and embittered strife.  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 

 

“Booms start with some tie-in to reality, some reason which justifies the increase in asset values, and then -- and this is the critical feature of speculative mood -- the market loses touch with reality.” 

John Kenneth Galbraith

"I will be your God, unchanging, throughout your life— until you are old, and your hair is white with age.  I made you, and I will care for you.  I will sustain you and save you." 

Isaiah 46:4

 

Gold and silver tried to rally but ended up largely unchanged.

The Dollar (DX) gave up the 92 handle as it continued to move lower.

Stocks rallied on, as long as we're talking tech.

Bitcoin has every aspect of a ponzi scheme.

Have a Happy Thanksgiving.

 

Signal Company, Schofield Barracks, Hawaii - November 20, 1941

Stocks and Precious Metals Charts - Our Cups Runneth Over - Metals Smacked for Comex Option Expiration

 

"Do all without constant arguing and complaining, so that you may be blameless and righteous as children of God, unlike those of this contentious and perverse generation, so that among them you may shine like lights to the world, as you hold firmly to the words of life." 

Phil 2:14-16 

 

Stocks were on a tear higher today, as all thoughts of risk evaporated in the euphoria of a settled national election and the beginning of the end for Covid. 

You don't have to feel or be good to look good, and darling, you look marvelous.

Gold and silver were smacked again soundly for the Comex option expiration.

The Dollar took a dive along with the metals.   

Fearless fire-breathing beta monsters ahead of the long national US holiday.

We're large, in charge, and everything is coming up roses.

Get right, sit tight.

Have a pleasant evening.

Thanksgiving Menus From Days Gone By

 

For an assist in your own Thanksgiving menu preparations. 

And the selection and prices!

I became interested in these old Thanksgiving menus when I found an old menu in my dad's collection of memorabilia from aboard a ship in the Pacific for Thanksgiving 1944.

The New York Public Library maintains an impressive collection of old menus.

Some day our children's children may look back on the menus from our day with similar nostalgia and wonder.

Such are the times and the currencies.

 

Stocks and Precious Metals Charts - Metals Mugged on Comex Option Expiration - Biden Picks Yellen for Treasury

 

"Like liberty, gold never stays where it is undervalued."

J. S. Morrill 

 

"Truth, like gold, is to be obtained not by its growth, but by washing away from it all that is not gold."

Leo Tolstoy

 

"Then the kings of the earth, their nobles and their commanders, the rich, the powerful, and every one of their willing slaves and free men, hid in the caves and among the rocks of the mountains.  And they cried to the mountains and the rocks, 'Fall on us, and hide us from the face of the one who sits on the throne, and from the righteous anger of the Lamb.'" 

Revelation 6:15-16

 

The metals got mugged the day before the important December options expiration tomorrow. 

Since this is a holiday shortened week the hit occurred a little earlier and harder than one might expect.

But it may not be over yet. 

There is still tomorrow to clear out some more punters. 

But I did caution several times about this significant option expiration and the traditional manipulation of the metals in their biggest contract month.

So what.  Get right, sit tight.

A good chunk of physical changed hands in Hong Kong, where inventories are once again down to the bottom of the barrel. 

The Dollar was up marginally, although well off the overnight lows.  Well done Wall Street.

Stocks moved a bit higher, led by non-tech and the broader markets. 

Biden has announced Janet Yellen as his pick for Treasury Secretary. 

For those of you who have inquired, Tony Sanders is still in hospital, now out of critical danger, but not  well enough to be mobile.   Lack of oxygen remains an issue. This pandemic is serious business.

Stock a fork in Donnie.   He is done, despite all the posturing and increasingly clumsy attempts to block and overturn the voting count and certifications.    And the fantastical stories of secret strategies spun in the blogosphere and 'lost cause' sound machine. despite the comic legal efforts of his crew.

Like most everything else in politics these days, it's mostly theater, and playing to the crowd, while the oligarchy grows increasingly audacious behind the scenes. 

But that's reality show business.   While the band plays on.

Have a pleasant evening.