Stocks and Precious Metals Chart - Then the Flood Came - Fed Underpins Global Financial Assets

“The mob believes everything it is told, provided only that it be repeated over and over.  Provided too that its passions, hatreds, fears are catered to.   The grosser, the bigger, the cruder the lie, the more readily is it believed and followed.   The mob has no memory; no need to pretend to any truth: the mob is radically incapable of perceiving the truth: the mob can never comprehend that its own interests are what is at stake.”

Alexandre Koyré, Réflexions sur le Mensonge, January 1943


“Evil when we are in its power is not felt as evil, but as a necessity, or even a duty."

Simone Weil


“Each day we are becoming a creature of splendid glory, or one of unthinkable horror.”

C. S. Lewis

Stocks tried to reach a new high note again today, but fell back as the wanton disregard for risk failed to sustain the punters, and draw in more innocents to take the handoff of overpriced financial assets at the top.

Gold and silver continued to rebound after the calculated and fairly blatant price smackdown.

Even the spokesmodels took note of silver's impressive rebound.

The dollar has drifted sideways.

And because of the increase in wickedness, the love of most will grow cold.

Have a pleasant evening.

Stocks and Precious Metals Charts -Den of Vipers and Thieves - Risk On

"Gentlemen! I too have been a close observer of the doings of the Bank of the United States. I have had men watching you for a long time, and am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country.

When you won, you divided the profits amongst you, and when you lost, you charged it to the bank.  You tell me that if I take the deposits from the bank and annul its charter I shall ruin ten thousand families.  That may be true, gentlemen, but that is your sin!

Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves.  I have determined to rout you out, and by the Eternal, (bringing his fist down on the table) I will rout you out."

Andrew Jackson,  The original minutes of the Philadelphia bankers meeting from Andrew Jackson and the Bank of the United States (1928) by Stan V. Henkels


“Believe in truth.  To abandon facts is to abandon freedom.  If nothing is true, then no one can criticize power, because there is no basis upon which to do so.  If nothing is true, then all is spectacle.  The biggest wallet pays for the most blinding lights.  Fascists rejected reason in the name of will, denying objective truth in favor of a glorious myth articulated by leaders who claimed to give voice to the people."

Timothy Snyder, On Tyranny

Gold and silver had bounces that faded by the end of the day, after yesterday's brutal mugging.

The Dollar and the VIX were both lower.

It was a risk on day in the markets.

Financial TV had the pom poms out in force, cheering on the SP 500 a recovery of its previous blowout bubble high.

Alas, this was not to be. Although the index is within fairly easy reach, helped by slight volumes and high speculative fever.

Techs were off a bit, although APPL is burning bright in the overvalued firmament.

And despite the numbers this morning for core inflation growth, which was the greatest increase since 1991, the spokesmodel Bloomberg noted that gold has failed to rise, so there must not be any inflation, or it just does not work as a safe haven.

I guess we can forget the all time high its price hit in Dollars within the past week.

What a fix we are in.

Have a pleasant evening.

Stocks and Precious Metals Charts - Gold and Silver Mugged By Wall Street Insiders - Because They Can

"Day by day the money-masters of America become more aware of their danger, they draw together, they grow more class-conscious, more aggressive. The [first world] war has taught them the possibilities of propaganda; it has accustomed them to the idea of enormous campaigns which sway the minds of millions and make them pliable to any purpose.

American political corruption was the buying up of legislatures and assemblies to keep them from doing the people's will and protecting the people's interests; it was the exploiter entrenching himself in power, it was financial autocracy undermining and destroying political democracy. By the blindness and greed of ruling classes the people have been plunged into infinite misery."

Upton Sinclair, The Brass Check

Today was hardly a risk on day, judging from major stock indices and the VIX.

And the dollar itself was up only slightly.

But gold and silver were just hammered lower.  What's up with that?

The reason was hardly the announcement of a Russian vaccine.

Rather, it was almost certainly a measured 'technical' hit on a metals market that was very overextended to the buy side, with small specs and punters piling on the longs.

And then there were the trailing stops, which the Wall Street insiders get a peek at, which most likely presented a very tempting target, easy to hit and trigger a slide.

Gold and silver were bound to correct. They were starting to go parabolic.

I was sitting in cash waiting for this, and took the opportunity to pick up some trading positions.

Let's see how things go from here.

Have a pleasant evening.

Stocks and Precious Metals Charts - Global Market Cap Larger Now Than Global Economy

No merger Monday today. Just a slight upward drift in small caps and the SP, with the techs giving up some ground.

The dollar had a bounce. Just a bounce, so far.

Gold gave up a little bit of its recent gains, but silver managed to take back 29 and hold it.

Trading is very light, and so it does not take much to push the indices and certain stocks around, whether it be Robinhood key-pounders, or the PPT.

Let's see how the week progresses.

The markets are extra vulnerable to any adverse news, so proceed with caution.

I tangled with an underground nest of wasps last week when I was clearing storm debris from my yard.

The antihistamines make me sleepy. But with ibuprofen and vinegar wash and an ice pack my poor ankle seems to be slowly getting better. Wasp stings are fairly painful. Multiple stings in one area even more so. Their days are numbered. lol.

The swelling was fairly impressive. But it also slowly receding. No other effects, except some seriously annoying itching that also seems to be lessening.

Thanks be to God, always, for his loving kindness and tender mercies.

Have a pleasant evening.

On the Feast Day of Saint Edith Stein

“Do not accept anything as the truth if it lacks love.  And do not accept anything as love is it lacks the truth.  One without the other is a destructive lie.

When you seek truth you seek God, whether you know it or not.

My God, fill my soul with holy joy, courage and strength to serve You.  Kindle your love in me and then walk with me along the next stretch of road before me. 

I do not see very far ahead, but when I have arrived where the horizon closes down, a new prospect will open before me, and I shall meet it with peace.”

Edith Stein


"Dear brothers and sisters.  Because she was Jewish, Edith Stein was taken with her sister Rosa and many other Jews from the Netherlands to the concentration camp in Auschwitz, where she died with them in the gas chambers.  Today we remember them all with deep respect. 

From now on, as we celebrate the memory of this new saint from year to year, we must also remember the Shoah, that cruel plan to exterminate a people — a plan to which millions of our Jewish brothers and sisters fell victim.  May the Lord let his face shine upon them and grant them peace.

For the love of God and man, once again I raise an anguished cry.   May such criminal deeds never be repeated against any ethnic group, against any race, in any corner of this world.   It is a cry to everyone, to all people of goodwill, to all who believe in the Just and Eternal God, to all who know they are joined to Christ, the Word of God made man.  We must all stand together—  human dignity is at stake.

There is only one human family.  The new saint also insisted on this:  'Our love of neighbour is the measure of our love of God.   For Christians — and not only for them — no one is a ‘stranger’.  The love of Christ knows no borders'".

John Paul II, On the Canonization of Edith Stein, Teresa Benedicta of the Cross

Stocks and Precious Metals Charts - Shenanigans Abounding in Quiet Summer Trading

"Write this message plainly on tablets, so that even a passerby may read it.

For there is still a reckoning coming in its appointed time. It speaks of the end, and does not lie. If it seems to be late in coming, wait for it; it will surely unfold.

Look at the proud and the powerful. They trust in themselves, and so their lives are becoming twisted.  But the righteous will endure, and live by their faithfulness to God."

Habakkuk 2:2-4

Gold and silver both pulled back today to consolidate their recent spectacular break out gains that left them both short term very overbought.

Do I think their rally is over? Not hardly.

Gold and silver have hardly gained much notice or respect in the broader investing community, which is still chasing rainbows.

If you look at the gold clearing report below, you can see that every active financial playing was buying for their house account, at 2051.

Most of the gold and silver commentary on financial TV is shallow and dismissive.

There is more rally to come.

The Dollar bounced back a bit today.

Stocks in the non-techs managed to gain back their earlier losses of the day, thanks to the light trading of a Friday in midsummer.

Big cap techs were a serious divergence, with the NDX ending firmly in the red.

Washington is dead-locked, the political posturing and lies are flying thick and fast. The Trump administration is throwing out useless symbolic poses and gestures, with no leadership or competent governing skills, as usual.

See you next week.

Have a pleasant weekend.

Stocks and Precious Metals Charts - King Silver! - Non-Farm Payrolls Report Tomorrow

Gold and silver were both moving higher today, with the Dollar continuing its slide lower as measured by the DX index.

Gold closed just north of $2070.

Silver had a major move and finished up just shy of $29!

Stocks were a bit lackluster in the early trade, which was also especially light.

However in the afternoon the animal spirits of the pigmen stirred, and stocks were bid up towards new bubble highs.

There will be a Non-Farm Payrolls report tomorrow. Stocks may move on it. Trumpolini wants to see good numbers.

I put up a chart that shows the returns of a few of our familiar asset classes since the beginning of 2019.

And surprise, the winner was King Silver.

Hail to the king, baby.

Have a pleasant evening.