Gold Daily and Silver Weekly Charts - Non-Farm Payrolls on Friday

"There is a tide in the affairs of men, Which, taken at the flood, leads on to fortune;
Omitted, all the voyage of their life Is bound in shallows and in miseries.
On such a full sea are we now afloat, And we must take the current when it serves
Or lose our ventures."

William Shakespeare, Julius Caesar

Yes it is almost that time again.

Tomorrow will be the end of the third quarter, and on Friday we will have another Non-Farm Payrolls report.

This report will be watched closely, with the idea of the Fed raising rates, or not.

Gold took a little hit today, but silver closed a bit higher.  This is an active month for silver.

There were no deliveries posted at The Bucket Shop yesterday.

Gold continues to bleed slowly out of the warehouses.  Silver is streaming out of the Scotia Mocatta warehouse, almost emptying it relative to the other warehouses.

As my godfather, who lived to be 89, used to say:  starość nie radość.   Old age is no joke.

 Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - End of Third Quarter Tomorrow

Stocks had a wide ranging day, finishing up nearly unchanged.

The end of the third quarter is upon us. Shenanigans may be forthcoming.

Have a pleasant evening.

Gold Daily and Silver Weekly Charts - Roll On Big River of Gold

"There are two kinds of realists: those who manipulate facts and those who create them. The West requires nothing so much as men able to create their own reality."

Henry Kissinger, 1963


"But in these cases
We still have judgment here, that we but teach
Bloody instructions, which, being taught, return
To plague the inventor: this even-handed justice
Commends the ingredients of our poisoned chalice
To our own lips..."

Shakespeare, Macbeth

People take their fashions from the leadership.  And the leadership and role models in our culture are emblematic of our failures.

In the news, Swiss Name Seven Banks In Precious Metals Rigging Probe.

Precious metals took a hit today, as I thought that they might.

The rally last week had more to do with the option expiration than it did with disclosures of physical tightness of gold bullion in particular.

Glencore the commodity firm took a big hit today based on a sell-side analysts forecasts of doom.

The miners were taken out to the wood shed.  I am seeing some big companies priced at levels I was buying them in 2002.  .

I do believe this is going to come down to hard tacks.  The bullion buyers of the world markets are going to keep the physical flow going until something breaks.

The  wiseguys lack all restraint, and the regulators are failing to provide adult supervision because of conflicted interests and.utopian ideologies about 'naturally free markets.'

The bubble in junk paper is rolling over as can be seen on the chart below.  It has plenty of room below it thanks to the Fed's misdirected policy errors.

There was very little activity at The Bucket Shop to report on from Friday.

Potential claims per ounce of register gold are 262:1.    The shills and trolls say don't look at it, means nothing.  As well they might, as their true loyalties demand.   They mention everything except that this has never happened before in the last twenty years.

But it means nothing.  Don't trust your lying eyes.  Most everything is being settled on the side, over-the-counter, at undisclosed prices so as not to perturb the public pricing structure. And yet so little actually leaves the warehouses, at least for gold.  Odd market price discovery mechanism that.

London is where the physical bullion is gathered, and it is flowing in an easterly direction.

Roll on, gold float, roll on.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Stranger Danger

Stocks took a further beating today, and a heaping helping of that was in the direction of commodity trader Glencore thanks to a bit of sell side analysis.

Can you imagine if the Fed had raised rates last week and the market was selling off like this?

And I think it would have because this market is moving in synchronization with world markets, and most of them are rolling over from the recent asset bubble fueled by easy money for the rich and austerity for nearly everyone else.

And the lack of integrity in the statistics and the investment vehicles, and the trample of the rules and financial responsibility is almost disheartening.

There is a lot of money being made.  But not by the 99%.

The price of lack of reform and the moral hazard of allowing criminal behaviour to not only escape punishment and correction, but be richly rewarded with outrageous rewards, is beginning to come back and collect the wages of our apathy in the face of injustice and corruption.

Let's see how the rest of the week goes.

Have a pleasant evening.

The Psychopath Next Door - Snakes In Suits - The Will To Power

What is good? All that enhances the feeling of power, the Will to Power, and the power itself in man. What is bad? All that proceeds from weakness. What is happiness? The feeling that power is increasing— that resistance has been overcome. Not contentment, but more power; not peace at any price, but war; not virtue, but competence.

The first principle of our humanism is that the weak and the failures shall perish. And they ought to be helped to perish. What is more harmful than any vice? Active pity for all failure and weakness — Christianity.

Friedrich Nietzsche

“They often make use of the fact that for many people the content of the message is less important than the way it is delivered.

A confident, aggressive delivery style - often larded with jargon, clichés, and flowery phrases - makes up for the lack of substance and sincerity in their interactions with others ... they are masters of impression management; their insight into the psyche of others combined with a superficial - but convincing - verbal fluency allows them to change their personas skillfully as it suits the situation and their game plan.

They are known for their ability to don many masks, change 'who they are' depending upon the person with whom they are interacting, and make themselves appear likable to their intended victim...

Psychopathic workers very often were identified as the source of departmental conflicts, in many cases, purposely setting people up in conflict with each other. “She tells some people one story, and then a totally different story to others...The most debilitating characteristic of even the most well-behaved psychopath is the inability to form a workable team.

Paul Babiak and Robert Hare, Snakes in Suits

Politicians do not get the attention that so many of them deserve in this documentary.

I think organizations, and even nations, can give themselves over to a kind of collective madness, and harden their hearts over time through fear and fashion.

One of the most concerning trends is the sanctification of violent, deceptive, selfish, and self-deluding behaviour in our society.   We fear nothing but power, respect nothing but power, despise and abuse the weak in our bitterness, and believe that anything goes in the service of greed and power.

And the worst is that with all this endless war culture of selfish thieving, we fancy ourselves to be a paragon of history, the culmination of progress, and exceptional for our virtue.   There is a downfall, and a tragedy, in the making.

Fed Custodial Gold Continues to Decline in the Post-Bretton Woods II Monetary Interregnum

The avalanche of gold that fled the Second World War is going home.

This is a return to a more 'normal' currency regime, and a move towards monetary autonomy in the aftermath of the of Bretton Woods era.

In the post-Bretton Woods II era it appears that independent regional currencies may predominate.

Unless of course the nations can forge a more equitable agreement for an SDR-like clearing currency for international trade that is not dominated by any one nation or group of nations.

And the times, they are a-changin'.