"Go now, write it on a tablet for them,
inscribe it on a scroll,
so that in the days to come
it may be a witness to them, for ever and ever.
For these are a rebellious people, deceitful children,
unwilling to listen to the instructions of the Lord.
They say to their seers,
‘Do not see!’
and to the prophets,
‘Say nothing of what is right!
Tell us only things that please us,
prophesy illusions."
Isaiah 30:8-10
"Then the rich man said, ‘Please, Father Abraham, at least send Lazarus to my father’s home. For I have five brothers, and I want him to warn them so they don’t end up in this place of torment.’
But Abraham said, ‘Moses and the prophets have warned them. Your brothers can read what they wrote.’
The rich man replied, ‘No, Father Abraham! But if someone is sent to them from the dead, then they will repent of their sins and turn to God.’
But Abraham said, ‘If they won’t listen to Moses and the prophets, they will not be persuaded, even if someone rises from the dead.’”
Luke 16:27-31
Stocks traded like it was a Friday in summer, with a lazy, lackluster action, weighed down a bit by the big cap techs.
Gold and silver were capped, again.
The Dollar chopped sideways under the 92 handle.
Next week will be the end of the second quarter.
The outlook will be cloudy with a chance of more shenanigans, and paint on the tape.
Complicating matters a bit will be a closely watched Non-Farm Payrolls report for June, on the start to the 4th of July holiday weekend.
Stocks were off to the races, running up to new highs before backing off a bit in the afternoon.
Gold and silver made an attempt to rally in the morning, but once again the lid was slammed shut, and they finished the day essentially unchanged or with a slight loss.
"If I speak in the tongues of angels and of men, but I do not have love, I am a noisy gong or a clanging cymbal. And if I can prophesy, and know all mysteries and all knowledge, and if I have all faith so that I can move mountains, but do not have love, I am nothing."
1 Corinthians 13
"Through our relationship with the Incarnation we recover our true humanity, and at the same time are delivered from that perverse individualism which is the consequence of sin, and recover our familiarity with all mankind."
Dietrich Bonhoeffer
"This is how we know who are the children of God and who are the children of the Satan: anyone who does not do good is not God’s child, or is anyone who does not love their neighbor."
1 John 3:10
"At that time many will fall away, and betray and hate one another. And many false prophets will appear and lead many astray. Because of the increase of wickedness, the love of many will grow cold, but those who remain firm to the end will be saved. And the gospel of the kingdom will be preached in the whole world as a testimony to all nations, and then the end will come."
Matthew 24:10-14
Stocks were essentially unchanged today in a lackluster trade, soothed back into complacency by the courtiers to the pampered pilferers of Wall Street, the Fed.
The Dollar chopped sideways, just under the 92 handle.
Gold and silver attempted to rally, but were whittled back down in the afternoon trade in NY.
Tomorrow is the July option expiration for precious metals on the Comex.
Next week we will be getting the Non-Farm Payrolls report for June.
It may be a little more significant because of the recent controversy over a recovery and inflation.
Need little, want less, love more. For those who abide in love abide in God, and God in them.
Unless the Word blossoms into an active love in our hearts, we have no true life, and are nothing.
"What has been holding this Wall Street house of cards together this long is the New York Fed’s willingness (even eagerness) to throw trillions of dollars at the problem at the earliest sign of a hiccup. The fly in this ointment is that the New York Fed is literally owned by these same Wall Street mega banks while simultaneously creating emergency bailout programs and then outsourcing the work to the banks being bailed out. If ever there was the perfect design for a replay of the Hindenburg, this is it."
"For they flatter themselves in their own eyes, so
that their own sins cannot be found out and repented.
The words from their mouths are full of mischief and deceit;
they have ceased to act wisely and to do any good."
Psalm 36:2-3
“Pride thinks its own happiness shines the brighter, by comparing it with the misfortunes of other persons; that by displaying its own wealth they may feel their poverty the more sensibly. This infernal serpent, pervading the human heart, keeps people from reforming their lives, holding them back like a parasite.”
Thomas More, Utopia
The Fed's bubble fluffers were out in force, soothing the markets, whispering sweet nothings, and encouraging the mispricing of risk.
You know, like Japan's policy towards the Tokyo Olympics.
Gold, silver, the Dollar, and the VIX were all lower.
The NDX led by big cap techs rose to yet another new all time high.
Even the SP 500 got in on the act.
The Dow Industrials are only for tourists anymore, and I never look at them.
There will be a precious metals option expiration on the Comex this week on Thursday the 24th.
The implementation of the Basel III recommendations regarding precious metals approach with the end of the month.
A fairly large tranche of the physical gold in the Hong Kong Comex warehouses just took a hike.
Need little, want less, love more. For those who abide in love abide in God, and God in them.
Let us pray for those whose hearts are hardened against His grace and loving kindness by greed, fear, and pride, and the seductive illusion and crushing isolation of evil.
We pray that we all may experience the three great gifts of our Lord's suffering and triumph: repentance, forgiveness, and thankfulness. And in so doing, may we obtain abundant life, and with it the peace that surpasses all understanding.
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