“The courage we need is not the fortitude to be obedient in the service of an unjust war, to help conceal lies, to do our job for a boss who has usurped power and is acting as an outlaw government. It is the courage at last to face honestly the truth and reality of what we are doing in the world and act responsibly to change it.”
Daniel Ellsberg
Ellsberg states that "Assange, as a journalist, cannot be fairly tried under the Espionage Act."
I think the operative word there is 'fairly.'
Such a trial of a journalist, a first in our national experience, would be a watershed moment for freedom of the press, and of journalism in particular.
And further, it would be the start of a war on the press, and of a chilling intimidation on freedom of speech, and an ominous step in the direction of totalitarian government.
How ironic that the 'super-patriots' might be the ones cheering it forward, on the back of the serial expansion of this law by the phoney 'progressive' Obama.
You may find the original posting of this video at Consortium News.
So says the Lord:
‘They have forgotten how to do right,
those who store up in their fortresses
the wealth that they have plundered and looted.’
Therefore this is what the Sovereign Lord says:
‘An enemy will overcome your power,
pull down your citadels of advantage,
and plunder your institutions of oppression.’
Amos 3:10-11
"Capitalism is at risk of failing today not because we are running out of innovations, or because markets are failing to inspire private actions, but because we’ve lost sight of the operational failings of unfettered gluttony. We are neglecting a torrent of market failures in infrastructure, finance, and the environment. We are turning our backs on a grotesque worsening of income inequality and willfully continuing to slash social benefits. We are destroying the Earth as if we are indeed the last generation."
Jeffrey Sachs
"Caution in handling 'generally accepted opinions' that claim to explain whole trends of history is especially important for the historian of modern times, because the last century has produced an abundance of ideologies that pretend to be keys to history but are actually nothing but desperate efforts to escape responsibility.”
Hannah Arendt, The Origins of Totalitarianism
"[Henry Paulson] is wrong. It [financial crisis] is a failure of regulation. In fact, one of the ironies of this whole discussion is they want to give more power to the Fed. The Fed, which flooded the market with liquidity, which did not put in regulations until after the crisis, In fact, closing the barn door after the horse is out. And now to reward them for their excellent job, they want to give them more power."
“Capitalism is contradictory as soon as it is complete [unfettered]; because it is dealing with the mass of men in two opposite ways at once. When most men are wage-earners, it is more and more difficult for most men to be customers. For the capitalist is always trying to cut down what his servant demands, and in doing so is cutting down what his customer can spend. He is wanting the same man to be rich and poor at the same time.”
G. K. Chesterton
Gold and silver inventories and trading positions are becoming increasingly interesting.
In the first chart below we see CFTC data that shows gold and silver short positions in the futures to be at record highs.
And in the inventory reports, physical gold marked as available for delivery, in both Hong Kong and New York, is approaching record lows.
Are gold and silver near a tipping point, at least for this long, long sideways chop through a trading range?
The signs seem to indicate that we have at least reached an extreme in the pursuit of speculative advantage through the manipulation of paper on the part of a segment of the trading community.
We have been here before, and the powers that be managed to find enough gold to muddle through. But this time the Banks are on the other side of that short trade, a most remarkable and arther unfamiliar circumstance.
Stocks were indecisive, moving lower by the end of the day, with a few tech notables managing to move higher, in what perhaps may be remembered as a last hurrah.
The stock rally seems tired. And is often seen at the latter stages of long trends, risk seems to be almost phenomenally mispriced. Or at least it may be perceived so after the tumult is over and done, and the denouement of this latest phase of the ongoing control fraud that is modern finance collapses, once again.
And perhaps more importantly with regard to tipping points, the current regime of the domination of he real economies of the world by the Banks, with their enormous power to create and distribute the Dollar almost at will, may be nearing an end.
We cannot yet know. But what is certain is that all this too shall pass. Especially when it seems as though it never will.
And in the short term, there will be a Non-Farm Payrolls report on Friday. Never forget than in these financial markets the short term and the long term are like alternative universes, with little singlular correlation.
I confess that this weekend was a bit more difficult than ordinary. Not that I am looking for sympathy, but just so those others who feel the weight of some loss know— they are not alone. No normal person is exempt from the suffering of a loss of a long time companion and best friend. There is an emptiness that creeps in to the heart.
But the cure is not to dwell upon the sick sweetness of despair, but to fill our hearts with acts of loving kindness, actions that take us out of ourselves, and reward us with repentance and forgiveness. And most of all with gratitude, for the many consolations and tender mercies that are too often overlooked.
If we do not, then first bitterness, and then hatred and pride may fill that emptiness in our hearts. And the proud cannot repent, and haters will not forgive. For them it is not 'thy will be done' but 'our will be done.'
And over time even the slightest thwarting of our wills may become an insurmountable trial, and create a sense of perpetual victimization and anger. It can rob our minds of peace, and our hearts of joy, and fill them instead with passing diversions, casual hatreds and cruelty.
And instead of a source of love and community, our fellows become a dread burden, and other people a type of hell for us, in our willful pride. We recoil from the unfortunate because they are reflections of our true selves, which we despise as weak.
How ironic, that the way to recover ourselves is through selfless acts, giving acts of love, and not through grasping at objects and strong negative emotions, and stuffing them into the growing void in our being, our emptiness.
Need little, want less, love more. For those who abide in love abide in God, and God in them.
"Corporations are not concerned with the common good. They exploit, pollute, impoverish, repress, kill, and lie to make money. They throw poor people out of homes, let the uninsured die, wage useless wars for profit, poison and pollute the ecosystem, slash social assistance programs, gut public education, trash the global economy, plunder the U.S. Treasury and crush all popular movements that seek justice for working men and women. They worship money and power.
Unfettered capitalism is a revolutionary force that consumes greater and greater numbers of human lives until it finally consumes itself.
There are two sets of principles. They are the principles of power and privilege and the principles of truth and justice. If you pursue truth and justice it will always mean a diminution of power and privilege. If you pursue power and privilege, it will always be at the expense of truth and justice."
Chris Hedges
"There was a time when I wished that I could just say that Republicans are bad and Democrats are good or some such simplistic statement, but this is no longer true for me. Today my commitment is to truth, wherever it may lead. May each of us embrace this commitment to truth, no matter what.
There is a huge task before us. Let's inspire one another to do our part one step at a time, to dig into the truth deeper and deeper, to be more and more brave-hearted, to cry and to celebrate together, and to remember kindness, courage, compassion, and love are also an integral part of this beautiful troubled world we share."
"A great deal of intelligence can be invested in ignorance when the need for illusion is deep."
Saul Bellow
“State propaganda, when supported by the educated classes and when no deviation is permitted from it, can have a big effect.”
Noam Chomsky
"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by an endless series of hobgoblins, most of them imaginary.”
H.L. Mencken
“The term propaganda rings melodramatic and exaggerated, but a press that—whether from fear, careerism, or conviction—uncritically recites false government claims and reports them as fact, or treats elected officials with a reverence reserved for royalty, cannot be accurately described as engaged in any other function.”
Glenn Greenwald
“The point of modern propaganda isn't only to misinform or push an agenda. It is to exhaust your critical thinking, to annihilate truth.”
Garry Kasparov
Stocks were shoved around the plate by picky speculators who were not quite sure what to do at these levels when faced with a three day holiday weekend and continuing uncertainty with emerging markets and trade talks.
The 'NAFTA' talks between the US and Canada ended without a resolution today. They have agreed to continue speaking again on Wednesday.
Gold and silver came in strongly, but faded as the day went on and the Dollar appreciated modestly.
These jokers seem to be keen to keep the metals under wraps. If they lose control of the price, then a lot of dominoes will be falling.
But the setup here is very interesting.
"Commercials are currently net long (futures &options) in both gold & silver, 1st time ever for silver, at least going back to 95, which is as far back as my data goes."
Bill Fleckenstein
Smells like teen spirit.
Since today is the end of August, we will be seeing a Non-Farm Payrolls Report for this month next week. I have included a calendar of upcoming economic events for next week as the third chart below.
As you may recall, the US markets will be closed on Monday for Labor Day.
In honor of Labor Day, Trumpolini issued an order to freeze the pay of about two million Federal workers.
And he is considering a unilateral action to provide another $100 Billion in tax breaks for the .1% by indexing capital gains to inflation.
From the love of my own comfort
From the fear of having nothing
From a life of worldly passions
Deliver me O God
From the need to be understood
And from a need to be accepted
From the fear of being lonely
Deliver me O God
From the fear of serving others
Oh, and from the fear of death or trial
And from the fear of humility
Deliver me O God
Yes, deliver me O God
And I shall not want, no, I shall not want
When I taste Your goodness I shall not want
Audrey Assad, I Shall Not Want
The Lord is my shepherd; I shall not want. He makes me to lie down in green pastures; He leads me beside the still waters.
He restores my soul; He leads me in the paths of righteousness for His name’s sake.
Yea, though I walk through the valley of the shadow of death, I will fear no evil;
for Thou art with me; Thy rod and Thy staff, they comfort me.
Thou prepare a table before me in the presence of mine enemies;
Thou anoint my head with oil;
my cup runneth over.
Surely goodness and mercy shall follow me all the days of my life;
and I will dwell in the house of the Lord for ever.
Psalm 23
No comments tonight as I have to hurry up and wait at the dentist's office.
There was intraday commentary on bubbles and busts here.
Tomorrow will mark the first anniversary of the passing of my Mary. Eternal rest grant unto her, and all those of good and loving hearts, O Lord, and let perpetual light shine upon them. May their souls and all the souls of the faithful departed through the mercy of God rest in peace.
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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