Some Charts At 7 PM

"Two-thirds of the directors at the New York Fed are hand-picked by the same bankers that the Fed is in charge of regulating.

Today, the United States is No. 1 in corporate profits, No. 1 in CEO salaries, No. 1 in childhood poverty, and No. 1 in income and wealth inequality in the industrialized world.

Today, the top one-tenth of 1% owns nearly as much wealth as the bottom 90%. The economic game is rigged, and this level of inequality is unsustainable. We need an economy that works for all, not just the powerful.

I think what the American people are saying is enough is enough. This country, this great country, belongs to all of us. It cannot continue to be controlled by a handful of billionaires who apparently want it all."

Bernie Sanders

The Banks must be restrained, and the financial system reformed, with balance restored to the economy, before there can be any sustainable recovery.

No Updates Tonight - Jerzy Popiełuszko, martyr de la vérité

Busy making ready for the return of the monarch of the household.

"You have to live in Truth to remain spiritually free. Life in Truth consists of giving testimony, acknowledging the Truth and defending it in each situation. Truth never changes. It cannot be destroyed by any decision or legal act. Our slavery stems from our surrender to the rule of the lie, our failure to unmask a lie, and to protest against it in everyday life. Instead of correcting the lie we keep silent, or pretend to believe it is true.

This means living in falsehood. Telling the Truth with courage is a way leading directly to freedom. A person who tells the Truth is a free man despite external slavery, imprisonment, or official custody. If in the present political situation the majority of the Polish people followed the one and only Truth, our nation would become spiritually free today! The external or political freedom would follow sooner or later as a consequence of the spiritual freedom and faithfulness to the Truth.

Overcoming fear is a key element in the process of setting Man free. Fear springs from threats. We fear suffering; we fear the loss of some goods, the loss of freedom, health or a job. This fear makes us act against our conscience, and it is by means of our conscience that we take the measure of Truth. We overcome fear the moment we agree to lose something for the sake of a higher value. If Truth becomes a value worth suffering for, worth taking a risk, then we will overcome the fear that keeps us in slavery...

Any nation is bound to perish if deprived of bravery, if it pretends that everything is good when it is not, and if it is satisfied with half-truths. Every day we must be aware that when we are demanding truth from others we must live in truth ourselves, demanding justice we must be just, demanding bravery we must be brave."

Jerzy Popiełuszko, chaplain of Solidarity, martyr de la vérité

Gold Daily and Silver Weekly Charts - The Gathering Storm

"Some touch of the artist wells up within me, and calls insistently for a well-staged performance. Surely our profession, Mr. Mac, would be a drab and sordid one if we did not sometimes set the scene so as to glorify our results. The blunt accusation, the brutal tap upon the shoulder - what can one make of such a denouement?

But the quick inference, the subtle trap, the clever forecast of coming events, the triumphant vindication of bold theories - are these not the pride and the justification of our life's work? At the present moment you thrill with the glamour of the situation and the anticipation of the hunt. Where would be that thrill if I had been as definite as a timetable?”

Arthur Conan Doyle, Sherlock Holmes: The Valley of Fear

When gold and silver finally are able, through price action, to have their say about the state of Western fiscal and monetary policy actions, it may break a few ear drums and shatter a more than a few illusions about the wisdom and honesty of the money masters.

Slowly, but surely, a reckoning is coming.  And what has been hidden will be revealed.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Slithering Off Into the Close

Stocks went out on their lows in a weak, somewhat lackluster trade.

Have a pleasant evening.

Charts at 3:30 PM - Fractal Cup and Handles - Hard Tutelage of Lessons Unlearned

"Our mistakes have become our secrets. Editors and journalists tear up with a guilty air all that reminds them of the party promises unfulfilled, or the party ideals reproaching them. It is true of our statesmen that socially in evidence they are intellectually in hiding. The society is heavy with unconfessed sins; its mind is sore and silent with painful subjects; it has a constipation of conscience.

There are many things it has done and allowed to be done which it does not really dare to think about; it calls them by other names and tries to talk itself into faith in a false past, as men make up the things they would have said in a quarrel. Of these sins one lies buried deepest but most noisome, and though it is stifled, stinks: the true story of the relations of the rich man and the poor in England."

G. K. Chesterton, Eugenics and Other Evils

Taking visitors back to the airport.

Notice how the gold chart looks like it might be forming a little 'fractal' cup and handle on the larger handle. And even this bottom formation appears to be embedded in a much larger cup and handle.

For you non-technicians, this merely means that gold may be forming an epic bottom that will result in a push to much higher prices.

But let's take this one day, and one chart formation, at a time. Right now the push through the psychologically important $1300 level is more important.

Silver is looking particularly attractive on the charts.

Someone remarked to me yesterday that gold was following the USD/JPY almost tick for tick. I have not looked at it but it would not surprise me since gold is being traded as a currency by speculative traders and central banks in the 'crosses' as I have noted.

But unlike paper money, in which a sovereign technically 'can never default' because they can print more and often obtain enough power to make their actions into laws, those who engage in the longer term abuse of gold will find that they cannot so easily manipulate a money that endures and exists in its own substance, and which cannot be replicated except by deception and the abuse of power.

 History is littered with the practical defaults of sovereigns through inflation and devaluation.  But these are lessons unlearned by a generation of willful moderns.

Have a pleasant evening.

Angels Among Us

"And do not forget kindness to strangers, for in this way some who, while they were unaware and unworthy of it, were made fit to receive His angels."

‘Come, you who are blessed by my Father, be welcomed into the kingdom prepared for you from the foundation of the world. For I was hungry and you gave Me something to eat, I was thirsty and you gave Me something to drink, I was a stranger and you took Me in, I was naked and you clothed Me, I was sick and you looked after Me, I was in prison and you visited Me.’

"Are there no prisons?"
"Plenty of prisons..."
"And the Union workhouses." demanded Scrooge. "Are they still in operation?"
"Both very busy, sir..."
"Those who are badly off must go there."
"Many can't go there; and many would rather die."
"If they would rather die," said Scrooge, "they had better do it, and decrease the surplus population."

“It is inevitable that stumbling blocks to faith and goodness will come, but woe to the one through whom they come! It would be more profitable for that man to have a millstone hung around his neck and to be thrown into the sea than to cause one of these simple, innocent people to stumble."