Gold Daily and Silver Weekly Charts - Born to Run...

"This is turning into a battle of the titans, although on the surface it is harder to see the stresses building in the global markets."

Last night's gold and silver commentary at Le Café.

Nothing happened in the gold warehouses yesterday.

The suppression of the precious metals continues, and the prices are being held below 1300 for gold, and 20 for silver.  But physical bullion continues flowing, from West to East.

Cap, cap, cap.

Coiling, coiling, coiling.

What could go wrong?

In the end, nobody wins unless everybody wins.

Baby, we were born to run.

Have a pleasant weekend.

SP 500 and NDX Futures Daily Charts - Complacency Abounding

We saw some reversing of the momentum stocks as the wiseguys continue to push the Fed's liquidity around the plate, trolling for buys and stops.

Skittish, Toombs, very skittish.

Have a pleasant evening.

Nero: And They Who Would Be As Gods

"Do not suppose, I pray, that I am offended because you killed your mother, your wife, and your brother; that you burned Rome and send to the darkness all the honest men in your lands.

No, heir of Chaos. Death is the inheritance of men; from you other deeds could not have been expected. But to destroy one's ear for whole years with your poetry, to see your big belly on slim legs whirled about in a Pyrrhic dance; to hear your music, your dramatic orations, your doggerel verses, wretched poet of the suburbs, — is a thing surpassing my power, and it has roused in me the wish to die.

The capitol stuffs its ears when it hears you; the world reviles you. I can blush for you no longer, and I have no wish to do so. The howls of Cerberus, the dog of the underworld, though resembling your music, will be less offensive to me, for I have never been the friend of Cerberus, and I need not be ashamed of his howling.

Farewell, but make no music; commit murder, but write no verses; poison people, but do not dance; be an incendiary, but do not play on a harp. This is the wish and the last friendly advice sent to you by me —

Petronius, Arbiter Elegantiae.”

Henryk Sienkiewicz, Quo Vadis

"I am freeing man from the restraints of an intelligence that has taken charge, from the dirty and degrading self-mortification of a false vision called conscience and morality, and from the demands of a freedom and independence which only a very few can bear...

The law of selection justifies this incessant struggle, by allowing the survival of the fittest. Christianity is a rebellion against natural law, a protest against nature. Taken to its logical extreme, Christianity would mean the systematic cultivation of human failure.”

A. Hitler


"And advanced forms of biological warfare that can target specific genotypes may transform biological warfare from the realm of terror to a politically useful tool. This is merely a glimpse of the possibilities inherent in the process of transformation, not a precise prediction. Whatever the shape and direction of this revolution in military affairs, the implications for continued American military preeminence will be profound.

As argued above, there are many reasons to believe that U.S. forces already possess nascent revolutionary capabilities, particularly in the realms of intelligence command and control, and long range precision strikes.

Indeed, these capabilities are sufficient to allow the armed services to begin an interim, short-to-medium-term process of transformation right away, creating new force designs and operational concepts – designs and concepts different than those contemplated by the current defense program – to maximize the capabilities that already exist. But these must be viewed as merely a way-station toward a more thoroughgoing transformation."

The Project For a New American Century, Rebuilding America's Defenses


"Heroes. Victims. Gods and human beings.
All throwing shapes, every one of them
Convinced he's in the right, all of them glad
To repeat themselves and their every last mistake,
No matter what."

Seamus Heaney, The Cure At Troy

NY Fed Joins War On Whistleblowers To Shield Goldman Sachs From Its Own Examiner

And this sort of egregious behaviour from a 'regulator.'  They argue out of both sides of their mouths whether Goldman is a 'bank' or not, in order to get what they want for...  Goldman.

The Fed is not a government agency, but a privately owned creature of the very Banks whom it is charged to regulate and restrain.

And as we have seen, over and over again, the Fed is not part of the solution, but has become very much a part of the problem in distorting the banking system in favour of a few powerful financial interests.

A Mangled Case of Justice on Wall Street
By Pam Martens
May 8, 2014

On October 10, 2013, bank examiner Carmen Segarra and her attorney, Linda Stengle of Boyertown, Pennsylvania, took on one of the mightiest and interconnected institutions on Wall Street: the Federal Reserve Bank of New York. They relied on the Federal court system, funded by the taxpayer, and a fair and impartial judge to level the playing field. Things got off to a promising start.

Segarra was a bank examiner at the Federal Reserve Bank of New York, a key regulator of Wall Street banks. She charged in her lawsuit that when she turned in a negative assessment of Goldman Sachs, she was bullied and intimidated by colleagues at the New York Fed to change her findings.

When she refused, she was terminated from her job in retaliation and escorted from the Fed premises, according to her lawsuit...

Read the entire story here.

Related: Judge Tosses Lawsuit of Fired NY Fed Examiner

Gold Daily and Silver Weekly Charts - Cap, Cap, Cap...

The capping of gold and silver at 1300 and 20 is hard to miss.

Someone with deep pockets and a lot of power and regulatory clout seems interested in discouraging any precious metals rally and breakout.

This is turning into a battle of the titans, although on the surface it is harder to see the stresses building in the global markets.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Stick Save - Moneyed Interests

 

Stocks were all over the map, but managed to finish almost unchanged thanks to a late day rally, following a rally and then a sell off earlier in the day.

Have a pleasant evening.