Stocks and Precious Metals Charts - Wash - Rinse - Repeat: The Wealth Transfer Machine

 

"The news reports of the stock trading by Fed Presidents rightfully caused outrage over the 'let them eat cake' attitude as thousands of businesses shut down, millions of workers lost their jobs and families struggled to pay their bills. By Thursday of last week, both Kaplan and Rosengren said they would sell all of their individual stock positions by the end of September. (File that under too little, too late.)

This level of arrogance on the part of two Fed Presidents is part of an overarching level of contempt for the sensibilities of the American people by the Federal Reserve over many decades." 

Pam and Russ Martens, Latest Fed Stock Trading Outrage Just the Tip of the Iceberg

 

"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 

 

"Poor people don't contribute to reelection funds, but those who profit from poor people sure do. Therefore, truth be told, most politicians couldn't care less about the plight of the poor. There's so much profit to be made from poor people - think payday loans, high-interest rent-to-own stores, for-profit colleges, and overpriced mobile homes - that politicians and their crony-capitalist donors have a vested interest in keeping them poor."

Joshua Wilkey, My Mother Wasn't White Trash

Stocks reversed their early losses and rallied 'solidly' into the afternoon and the close.

The spokesmodels for Wall Street were ebullient.

Gold and silver declined.

The Dollar was a bit lower.

The VIX declined.

There will be a quad option expiration on Friday.

Wash - rinse - repeat.

Have a pleasant evening.

Stocks and Precious Metals Charts - Storm Warnings - Quad Witch Stock Option Expiration on Friday

 

“They support freedom for themselves and slavery for everyone else, and they use the freedom of the market to disguise this.  Economic coercion is just a different form of force.”

Robert Peate 

 

“As long as there are crazed or crafty leaders to play on old fears, a mob will turn cruel.” 

Leigh Brackett 

 

“Instead of flooding the entire economy with liquidity, and thereby increasing the danger of inflation, the Fed could support the stock market directly by buying market averages in the futures market, thereby stabilizing the market as a whole.” 

 Robert Heller, Federal Reserve Board, 1989

 

“People with advantages are loathe to believe that they just happen to be people with advantages.  They come readily to define themselves as inherently worthy of what they possess; they come to believe themselves 'naturally' elite; and, in fact, to imagine their possessions and their privileges as natural extensions of their own elite selves.” 

C. Wright Mills, The Power Elite

Stocks were off again today.

The big cap techs in the NDX futures have now been lower for five straight days.

Gold and silver both rallied back a bit, but still lower after the recent bear raids.

The Dollar finished largely unchanged.

There will be a quad witch option expiration on Friday.

Have a pleasant evening.

Stocks and Precious Metals Charts - Slowly We Turn

 

"They will be unloving and unforgiving; they will slander others and have little self-control.   They will be harsh and hate what is good.  They will betray their friends, be reckless, be puffed up with pride, and love their own pleasures more than God.   They may act religious, but they will reject the grace that could make them righteous." 

2 Timothy 3:2-5

 

 “Above all, don't lie to yourself.  The man who lies to himself and listens to his own lie comes to a point that he cannot distinguish the truth within him, or around him, and so loses all respect for himself and for others.” 

Fyodor Dostoyevsky, The Brothers Karamazov

 

“Not everyone who says to me, ‘Lord, Lord,’ will enter the kingdom of heaven, but the one who does the will of my Father in heaven.  Many will say to Me on that day, ‘Lord, Lord, did we not prophesy in Your name, and in Your name cast out demons, and in Your name perform many miracles?’  And then I will say, ‘I never knew you.  Begone, you who serve lawlessness.’

Matthew 7:21-23

 

Another ranging day in the markets. 

This is a sign that the markets are nearing a trend turn, probably linked to a taper in the abundcane of cash and liquid assets being delivered by the Fed to the Banks.

Gold was up a bit, silver was almost unchanged, after another test of lower support.

There will be more inflation data this week, with an eye to the next FOMC meeting.

There will be a quad witching option expiration on Friday.

Do not be deceived, for God is not mocked. Whatever a man sows, so shall he reap. 

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 - Go Down Gambling - Quad Witching Option Expiration Next Week

 

"Recently, Palantir Technologies, the secretive software company that collects and analyses huge amounts of data on behalf of clients which include a broad array of US intelligence and spy agencies, announced in a that it had purchased $50 million in gold bars as part of an investment strategy... 

Probably more than any other commercial technology company in the world, Palantir, due to it’s access to US Government data and other Governments’ data around the world, that could show patterns, shifts, and potential risks in the future political and economic landscape. 

So when Palantir buys a large quantity of physical gold bars and states that it has bought physical gold as a hedge against black swan risk events, then you better sit up and take notice, because this is no ordinary corporate treasury investment and no ordinary company." 

Ronan Manly, Can Corporate Treasurers Afford to Ignore Palantir’s Gambit on Gold?
 

"Down in a crap game, I've been losing at roulette
Cards are bound to break me but I ain't busted yet,
'Cause I've been called a natural lover by that lady over there
Honey, I'm just a natural gambler but I try to do my share
Go down gamblin'".

Blood, Sweat and Tears, Go Down Gambling

Stocks tried again to rally, and then ended reversing in the afternoon, going out near the lows at support. 

Maybe all that selling was due to a couple of the Fed Bank Presidents unloading their very substantial 'legal' person stock trading positions which were recently exposed to the outrage of the investing public.
Gold and silver were also lower, going out near those lows. 

The VIX rose higher.  

There will be a quad witching stock option expiration next week.

We may already be in the Shenanigans Zone, down at Wall and Broad.

Our crooks are more dishonest than your crooks.
Our crooks are bolder than yours.
Our crooks are brazen because we embrace deregulation
Our crooks are less honest than yours.

Have a pleasant weekend.