Stocks and Precious Metals Charts - E Pluribus Moola - From Many Pockets Into Some - Zimbabwe Jay

 

"Monetary conditions exert an enormous influence on stock prices.  Indeed, the monetary climate - primarily the trend in interest rates and Federal Reserve policy - is the dominant factor in determining the stock market's major direction." 

Martin Zweig 

"The real collapse of our currency began when it became evident that certain industrial circles were more powerful than the government." 

Adam Fergusson, When Money Dies

 

Tech continued to be a bit of a drag on the equity market.

The broader, non-weighted indices are gaining on what the pundits and their spokesmodels claim is the anticipation of a broad based economic recovery.   As if.

It seems to this gimlet eye that it might also be a broad inflationary trend buoyed by historic money printing.

Gold and silver continued to rebound a bit after the trouncing they took from the Banks.

There was a to-do about the newly empowered Democrats lambasting the moneyed interests and their personal ATM and wealth transfer machine called Wall Street. 

They always talk a good game, but then hide behind the GOP Senate filibuster, and do little or nothing.

I will become optimistic when I see the Democrats begin to actually do something, which they can.

As for the Republicans, they have a moral cancer, and are likely beyond redemption. 

And the band played on.

Slouching towards Harare to be born.

Have a pleasant evening.

 

Stocks and Precious Metal Charts - Forgiven - Risk On as Stocks Bounce

 

"Then he added, “'Now go and learn the meaning of this Scripture: ‘I want you to show mercy, not offer sacrifices.'”

Matthew 9:13

 

"The master summoned him and said, ‘You wicked servant!  I forgave your entire debt because you begged for mercy.  Should you not have had pity on your fellow servant for his debt, as I had pity on you?’  Then in anger the master handed him over to be tortured until he paid his entire debt.  So will my heavenly Father do to you, unless you forgive others, from your heart.” 

Matthew 18:32-35 

"Then they will answer, ‘Lord, when did we see you hungry or thirsty or a stranger or naked or ill or in prison, and not minister to your needs?’  And He will say, ‘Truly, what you did not do for one of the least of these, you did not do for me.’ And those who were heartless will go to eternal punishment, but the virtuous to eternal life.” 

Matthew 25:44-46

 

"Blessed are the merciful, for they will be forgiven." 

Matthew 5:7

 

As you may recall I said that the equity markets are still 'bubble-friendly' a few trading days ago.

And so they are.

It was 'risk on' as stocks took back their recent losses.

The Dollar slipped off the 92 handle, just.

VIX dropped to its short moving average.

Gold and silver had big bounces.

I think a lot of this was an unwinding of 'technical trades' designed to skin the broader trading public.

Let's see what tomorrow brings.

The short end Treasury auction was well bid, bringing some relief to the markets overall.

Keep an eye on the Treasury auctions tomorrow for a tell on the technicals at the longer end.

Have a pleasant evening.

 

Stocks and Precious Metals Charts - And the Band Played On

 

"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 

 

"Some of you may die, but it's a sacrifice I am willing to make." 

Lord Farquaard, Shrek

 

"Foolishness has a knack of getting its way; as we should see if we were not always so much wrapped up in ourselves. In this respect our townsfolk were like everybody else, wrapped up in themselves; they did not believe in plagues." 

Albert Camus 

 

There was a blog post with substantial commentary about the metals and other markets earlier today.

You can read it here. 

If you take the time to watch the video you may learn something which could prove to be useful.

In response to a few questions I had from viewers, lawsuits have been tried before, and not been able to gain traction.

 There is a school of thought that says a bubble like this cannot be brought down by internal reform, but has to collapse first, in order to be resolved.

 But aren't we working on the fourth bubble or so of this cycle in stocks?

Crime pays, and therefore lives on, until it does not.

Tech plunged again, all the way to what looks like a 'must hold' level. 

The SP 500 also gave it up a bit, but not as much. 

The Dow Industrials rallied, but it is a papier-mâché showpiece for tourists. 

The Dollar rallied, taking out the 92 handle. 

The rising 10 Year Treasury yield is having its effect.

Higher rates with a stronger dollar is something even our servile, corporate-sponsored nomenklatura and their elite money masters cannot possibly desire as a policy outcome, even in their sociopathy and naive recklessness about financial matters.

But you could say the thing about our endless wars with so little of strategic value to gain.

Let's see what they'll think of next.

Have a pleasant evening.

 

How the Banks and Hedge Funds Manipulate the Precious Metals Markets

 

"If price discovery is compromised by manipulation, then we will all be gradually impoverished and the economy will be imbalanced and unstable.   Over the past 25 years the forces of regulatory liberalisation and demutualisation of markets have allowed the largest global banks to set the rules, processes and infrastructure of global markets to their own self-interested requirements."

London Banker, Lies, Damn Lies, and LIBOR 

 

"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.   By the blindness and greed of ruling classes the people have been plunged into infinite misery.

It is difficult to get a man to understand something, when his salary depends on his not understanding it.” 

Upton Sinclair

 

"He who does not bellow the truth when he knows the truth makes himself the accomplice of liars and forgers."

Charles Peguy

 

When I write about 'running the stops' this is what I mean, as is explained in the video below.  They do it quite a bit in the metals markets, but also in the rest of them, including the bond markets.

There are commentators and sites that continue to excuse and cover up the corruption ongoing in the markets. 

You might be correct, given all the evidence, to be a bit skeptical if not suspicious of those professional scoffers, and the perennial promoters of unregulated 'free markets' in which powerful insiders have the ability to cheat and defraud the public at will.

The pity is that it still continues, along with quite a bit of additional antics and shenanigans.

Here is something I wrote back in 2009 about a particular event, which was called the Dr. Evil strategy by Citibank when the European regulators took them to task for running the stops in the European bond market. 

Ted Butler and many others have been doing good work citing and challenging this silver and gold market manipulation, for years.   Ted in particular has been writing the book on JPM and the silver market.

Bart Chilton passed away some years ago at age 58.   But Gary Gensler, his old boss, is now back again.   Will anything be done?

You can find the related pieces over time by clicking on the Dr. Evil topic here.

Here is Kyle Bass' opinion on the physical metals leverage in the Comex.  The video keeps getting taken down, but this copy remains.

And here is James Cramer's notorious description of how he manipulated the markets.

If you are trading with a online broker, do you notice how odd the price action has become when you place an order?

I do not seek to persuade you.  If you don't realize yet what is going on, it may be because you cannot.

I just feel an obligation to bring things like the video below into the light of day. 

Make up your own minds.

Or listen when the opinion molders say, 'nothing to see here move along,' and 'look look over there, people are trying to take your freedom by making you wear a mask.'

But if and when the physical markets blow up, as these highly leveraged schemes generally do, and no one could have seen it coming, and some outlandish rationale is advanced, you will know what happened, if you choose to see what has been there all along.