14 August 2019

Angels of Light


Even in times of inhuman ugliness and epic greed, so pervasive as to seem to overwhelm us, it is good to remember that love is moving, always moving among us.   And that even today we are called, by a word or nod of a stranger, or a sudden impulse from our own hearts,  to forsake the dark powers of this world, and accept His will as our own, and thereby reaffirm life.

I have often highlighted such as these here on these pages, because they are a light for us in troubled times.

The world and its servants will hate them, and slander them, these angels of light.  Because they mark out for us a holy and more certain path, with a powerful light that shines down through even the darkest corridors of history.

"Upon her recent passing at the age of 76, I took the opportunity to reread Bubby's memoirs.  In four different instances, my grandmother had stood—amid the smoke of the crematoriums, the barking dogs, the trampling boots and swinging clubs—on the infamous selection line at the head of which Mengele and his minions stood, pointing left and right, sentencing some to back-breaking labor, and sending others to the gas chambers. 

In each of those instances, somebody would come along and say or do something that would change Bubby's fate from certain death to tenuous life. In one such incident, she already had been sent to the line of those marked for death when a man appeared as if from nowhere, physically removed her from that line and shoved her into the other, without saying a word.

Indeed, the miracles and the mysteries of the events of those days abound along with the horrors and the tragedies. In contrast to the vile actions of the 'Angel of Death' were the noble and heroic actions of many 'Angels of Life' who stood ready to risk their own lives for the sake of saving that of a stranger.

It is thanks in no small part to 'angels' like these, who stepped out from behind their own misery and grief to come to the aid of others, that generations now live on to tell the story. How clearly we see the infinite ripple effects of single acts of kindness and compassion, even if accomplished in a split second."

Yossi Refson, Angels of Light


"We who lived in concentration camps can remember the men who walked through the huts comforting others, giving away their last piece of bread.  They may have been few in number, but they offer sufficient proof that everything can be taken from a man but one thing: the last of the human freedoms -- to choose one's attitude in any given set of circumstances, to choose one's own way.”

Viktor E. Frankl


“If you can feel that staying human is worth while, even when it can't have any practical result whatsoever, you've beaten them.”

George Orwell


"Do not be surprised, my brothers and sisters, if the world hates you.  We know that we have passed from death to life, because we love one another.  Anyone who does not love is in thrall to death. Anyone who hates a brother or sister is a murderer.  And you know that no murderer has life eternal residing in him.

This is how we know what love is: the Lord laid down his life for us. And we ought to lay down our lives for our brothers and sisters.  If anyone has material plenty and sees a brother or sister in need but has no pity on them, how can the love of God be in that person?  Little children, let us not love with words or speech but with actions and in truth."

1 John 3:13-18


"Maximilian Kolbe, a Polish Franciscan friar, provided shelter to refugees from Greater Poland, including 2,000 Jews whom he hid from Nazi persecution in his friary in Niepokalanów. He was also active as a radio amateur, with Polish call letters SP3RN, vilifying Nazi activities through his reports.

On February 17, 1941 Kolbe was arrested by the German Gestapo and imprisoned in the Pawiak prison, and on May 25 was transferred to Auschwitz I as prisoner #16670.

In July 1941 a man from Kolbe’s barracks vanished, prompting SS-Hauptsturmführer Karl Fritzsch, the deputy camp commander, to pick 10 men from the same barracks to be starved to death in Block 13 (notorious for torture), in order to deter further escape attempts. One of the selected men, Franciszek Gajowniczek, cried out, lamenting his family ["My poor wife! My poor children! What will they do?"], and Kolbe volunteered to take his place.

During the time in the cell he led the men in songs and prayer. After three weeks of dehydration and starvation, only Kolbe and three others were still alive. Finally he was murdered with an injection of carbolic acid [14 August 1941] ...

Kolbe is one of ten 20th-century martyrs from across the world who are depicted in statues above the Great West Door of Westminster Abbey, London."

Jewish Virtual Library, Maximilian Kolbe


“No one in the world can change Truth. What we can do and and should do is to seek truth and to serve it when we have found it. The real conflict is the inner conflict. Beyond armies of occupation and the catacombs of extermination camps, there are two irreconcilable enemies in the depth of every soul: good and evil, sin and love. And what use are the victories on the battlefield if we are ourselves are defeated in our innermost personal selves?”

Maximilian Kolbe

Even in your own small and simple ways, seemingly unnoticed, walk with the angels, for His sake, and for your own.


13 August 2019

Stocks and Precious Metals Charts - Boss, Da Tweet, Da Tweet - Stock Option Expiration this Friday


“The narcissist devours people, consumes their output, and casts the empty, writhing shells aside.”

Sam Vaknin

Stocks reversed their early declines and went on a rocket launch higher, and gold tanked after a strong overnight rally,

All thanks to a tweet suggesting that the Trump Administration would have a phone call with China after all. Call me!

The man-child gets his kicks by being able to pull levers with a few strokes of the keyboard.  His acolytes and well-heeled entourage enjoy the foreknowledge of major market reversals. Trading on privilege and connections— that's what they do.

The CPI came in a little hot on the core this morning, giving some juice to the doleur du monde DX index, on the hopes that the economy is really strong after all, and the Fed will not have to cut rates much after all.

I was waiting to see how they might pull the trigger on this option expiration week, and we were certainly not disappointed.

It was an opportunity if one was set up for it. It is hard to be too cynical about our governing elites.

And if not, better to just ignore these jokers and their antics.

Let's see how the rest of the week goes, and how many turns on the tilt-o-wheel the financial system can take.

Have a pleasant evening.


Performance of Various Assets of Interest In Several 'Market Crashes'


Let's lead off with a 'where we are to date' chart.

1929 is perhaps not a good example becuase there was a major repricing of gold involved.

But the dot-com bubble crash and the market debacle of 1987 may suffice.

I epseically like the dot-com bubble example as an analog for today.


Gold Longer Term Chart Formation Targets $1825



Despite the stock option expiration shenanigans and tweet driven, government-banks sponsored harmony of illusions of recovery, the longer term chart formation on gold remains intact.

Here is an earlier view and one updated for today.

I would expect a retest of the all time high from 2011 as well.




12 August 2019

Stocks and Precious Metals Charts - Flight To Safety - Stock Option Expiration on Friday


"He made me understand, speaking to me saying, 'I have come to give you insight and understanding. At the beginning of your prayers for mercy the command was given, and I have come to tell this to you, for you are greatly loved. Therefore consider these words, and understand this vision.'"

Daniel 9:22-23


"So then, from now on, obey the Lord.  Do not be stubborn and stiff-necked any more. For the Lord your God is the God of gods and the Lord of lords.  He is the great and powerful God and is to be honored with fearful respect. 

He does not show favor, and cannot be bought with money.  He does what is right and fair for the orphan and the widow.  He shows His love for foreigners by giving them food and clothing.  So show your love for foreigners and strangers as well.  For you too were foreigners and strangers in the land of Egypt.  Fear the Lord your God.  Work for Him, hold on to Him, and hold the truth in His name.  For He is your glory and your God."

Deuteronomy 10:16-21

Stocks dropped steadily today, going out near the lows of the day.

The recent rally back from the previous plunge has ended, at about the fifty percent retracement level.

Gold rose sharply to $1520 in the afternoon before settling back to $1511 in what was a clear flight to safety.

This is the cash 'spot' price.  The continuous contract futures actually rose to $1531.

Silver had some participation, but does not have the same effect in an initial flight to safety.

Gold leads the way, but silver follows, often with bounding energy.

I have long term holdings in both metals. There is no need to favor one or the other over time.

What exactly sparked such a dramatic 'flight to safety?'    Information is being disseminated asymmetrically.  So we may have to wait a little while.

There will be a stock market option expiration on Friday.

Have a pleasant evening.






History Lesson on Blindly Buying and Holding the Dips in Volatile Markets


"Stocks have fallen sharply as a trade war between the world’s two biggest economies ramped up in the past week, and according J.P. Morgan, it’s a good time to start buying.

Equity markets could still be in for a few more weeks of pain, but J.P. Morgan head of global and European equity, Mislav Matejka, expects an eventual rebound. In the meantime, he recommended that clients “look to buy the dip.”

“Our core view remains that one should use the prospective weakness as an opportunity to add,” Matejka said in a note to clients Monday. “We continue to believe that global equities will advance further before the next U.S. recession strikes.

CNBC, Stocks still have room to fall, but look to buy the dip, JP Morgan says, 5 August 2019

I will never forget the sage wisdom and comfort that was given by one of the regulars on bubblevision in the bloody aftermath of the first tech 'dot com' bubble crash in 2001, after cheerleading it all the way up and beyond.

"Nobody made you buy stocks."

'Investing' by buying dips in volatile markets is a dangerous business, suitable only for professionals who know how to hedge and manage risk.

Especially the 'unexpected' risks.



"There is no cause to worry. The high tide of prosperity will continue."

Andrew W. Mellon, Secretary of the Treasury, September 1929


"This is the time to buy stocks. This is the time to recall the words of the late J. P. Morgan that any man who is bearish on America will go broke. Within a few days there is likely to be a bear panic rather than a bull panic. Many of the low prices as a result of this hysterical selling are not likely to be reached again in many years."

R. W. McNeal, New York Herald Tribune, October 30, 1929




10 August 2019

Gold and Silver Commitments, Holdings, and Technicals - What Is Hidden Will Be Revealed


"Gold will be around, gold will be money when the dollar and the euro and the yuan and the ringgit are mere memories."

Richard Russell


"'We didn't truly know the dangers of the market, because it was a dark market,' says Brooksley Born, the head of an obscure federal regulatory agency -- the Commodity Futures Trading Commission [CFTC] -- who not only warned of the potential for economic meltdown in the late 1990s, but also tried to convince the country's key economic powerbrokers to take actions that could have helped avert the crisis. 'They were totally opposed to it,' Born says. 'That puzzled me.  What was it that was in this market that had to be hidden?'"

PBS Frontine, The Warning


"Those entrapped by the herd instinct are drowned in the deluges of history.  But there are always the few who observe, reason, and take precautions, and thus escape the flood. For these few gold has been the asset of last resort."

Antony C. Sutton


"Gold in US dollars is 25.7 % away from its all time high.

Gold in renminbi is 13.8 % away from its all time high.

Gold in euros is 3.2 % away from its all time high.

In many other (major) currencies gold is at an all time high."

Jan Nieuwenhuijs, the artist formerly known as Koos Jansen