Martin Luther King: Unfulfilled Dreams

Martin Luther King was murdered, 45 year ago, on April 4, 1968, one month after giving this sermon Unfulfilled Dreams in his church in Atlanta, Georgia.

His assassination was one year to the day after he had given his famous speech, A Time To Break the Silence against the war in Vietnam at Riverside Church, New York City, on April 4, 1967.

"...So many of us in life start out building temples: temples of character, temples of justice, temples of peace. And so often we don’t finish them. Because life is like Schubert’s "Unfinished Symphony." At so many points we start, we try, we set out to build our various temples. And I guess one of the great agonies of life is that we are constantly trying to finish that which is unfinishable. We are commanded to do that. And so we, like David, find ourselves in so many instances having to face the fact that our dreams are not fulfilled.

Now let us notice first that life is a continual story of shattered dreams. Mahatma Gandhi labored for years and years for the independence of his people. And through a powerful nonviolent revolution he was able to win that independence. For years the Indian people had been dominated politically, exploited economically, segregated and humiliated by foreign powers, and Gandhi struggled against it. He struggled to unite his own people, and nothing was greater in his mind than to have India’s one great, united country moving toward a higher destiny. This was his dream.

But Gandhi had to face the fact that he was assassinated and died with a broken heart, because that nation that he wanted to unite ended up being divided between India and Pakistan as a result of the conflict between the Hindus and the Moslems. Life is a long, continual story of setting out to build a great temple and not being able to finish it.

Woodrow Wilson dreamed a dream of a League of Nations, but he died before the promise was delivered.

The Apostle Paul talked one day about wanting to go to Spain. It was Paul’s greatest dream to go to Spain, to carry the gospel there. Paul never got to Spain. He ended up in a prison cell in Rome. This is the story of life.

So many of our forebearers used to sing about freedom. And they dreamed of the day that they would be able to get out of the bosom of slavery, the long night of injustice. And they used to sing little songs: "Nobody knows de trouble I seen, nobody knows but Jesus." They thought about a better day as they dreamed their dream. And they would say, "I’m so glad the trouble don’t last always. By and by, by and by I’m going to lay down my heavy load." And they used to sing it because of a powerful dream. But so many died without having the dream fulfilled.

And each of you this morning in some way is building some kind of temple. The struggle is always there. It gets discouraging sometimes. It gets very disenchanting sometimes. Some of us are trying to build a temple of peace. We speak out against war, we protest, but it seems that your head is going against a concrete wall. It seems to mean nothing. And so often as you set out to build the temple of peace you are left lonesome; you are left discouraged; you are left bewildered.

Well, that is the story of life. And the thing that makes me happy is that I can hear a voice crying through the vista of time, saying: "It may not come today or it may not come tomorrow, but it is well that it is within thine heart. It’s well that you are trying." You may not see it. The dream may not be fulfilled, but it’s just good that you have a desire to bring it into reality. It’s well that it’s in thine heart.

Thank God this morning that we do have hearts to put something meaningful in. Life is a continual story of shattered dreams.

Now let me bring out another point. Whenever you set out to build a creative temple, whatever it may be, you must face the fact that there is a tension at the heart of the universe between good and evil. It’s there: a tension at the heart of the universe between good and evil. Hinduism refers to this as a struggle between illusion and reality. Platonic philosophy used to refer to it as a tension between body and soul. Zoroastrianism, a religion of old, used to refer to it as a tension between the god of light and the god of darkness. Traditional Judaism and Christianity refer to it as a tension between God and Satan. Whatever you call it, there is a struggle in the universe between good and evil.

Now not only is that struggle structured out somewhere in the external forces of the universe, it’s structured in our own lives. Psychologists have tried to grapple with it in their way, and so they say various things. Sigmund Freud used to say that this tension is a tension between what he called the id and the superego.

But you know, some of us feel that it’s a tension between God and man. And in every one of us this morning, there’s a war going on. It’s a civil war. I don’t care who you are, I don’t care where you live, there is a civil war going on in your life. And every time you set out to be good, there’s something pulling on you, telling you to be evil. It’s going on in your life. Every time you set out to love, something keeps pulling on you, trying to get you to hate. Every time you set out to be kind and say nice things about people, something is pulling on you to be jealous and envious and to spread evil gossip about them.

There’s a civil war going on. There is a schizophrenia, as the psychologists or the psychiatrists would call it, going on within all of us. And there are times that all of us know somehow that there is a Mr. Hyde and a Dr. Jekyll in us. And we end up having to cry out with Ovid, the Latin poet, "I see and approve the better things of life, but the evil things I do." We end up having to agree with Plato that the human personality is like a charioteer with two headstrong horses, each wanting to go in different directions. Or sometimes we even have to end up crying out with Saint Augustine as he said in his Confessions, "Lord, make me pure, but not yet." We end up crying out with the Apostle Paul, "The good that I would I do not: And the evil that I would not, that I do." Or we end up having to say with Goethe that "there’s enough stuff in me to make both a gentleman and a rogue."

There’s a tension at the heart of human nature. And whenever we set out to dream our dreams and to build our temples, we must be honest enough to recognize it.

And this brings me to the basic point of the text. In the final analysis, God does not judge us by the separate incidents or the separate mistakes that we make, but by the total bent of our lives. In the final analysis, God knows that his children are weak and they are frail. In the final analysis, what God requires is that your heart is right. Salvation isn’t reaching the destination of absolute morality, but it’s being in the process and on the right road.

There’s a highway called Highway 80. I’ve marched on that highway from Selma, Alabama, to Montgomery. But I never will forget my first experience with Highway 80 was driving with Coretta and Ralph and Juanita Abernathy to California. We drove from Montgomery all the way to Los Angeles on Highway 80—it goes all the way out to Los Angeles. And you know, being a good man, being a good woman, does not mean that you’ve arrived in Los Angeles. It simply means that you’re on Highway 80. Maybe you haven’t gotten as far as Selma, or maybe you haven’t gotten as far as Meridian, Mississippi, or Monroe, Louisiana—that isn’t the question. The question is whether you are on the right road. Salvation is being on the right road, not having reached a destination.

Oh, we have to finally face the point that there is none good but the father. But, if you’re on the right road, God has the power and he has something called Grace. And he puts you where you ought to be.

Now the terrible thing in life is to be trying to get to Los Angeles on Highway 78. That’s when you are lost. That sheep was lost, not merely because he was doing something wrong in that parable, but he was on the wrong road. And he didn’t even know where he was going; he became so involved in what he was doing, nibbling sweet grass, that he got on the wrong road. Salvation is being sure that you’re on the right road. It is well—that’s what I like about it—that it was within thine heart.

Some weeks ago somebody was saying something to me about a person that I have great, magnificent respect for. And they were trying to say something that didn’t sound too good about his character, something he was doing. And I said, "Number one, I don’t believe it. But number two, even if he is, he’s a good man because his heart is right." And in the final analysis, God isn’t going to judge him by that little separate mistake that he’s making, because the bent of his life is right.

And the question I want to raise this morning with you: is your heart right? If your heart isn’t right, fix it up today; get God to fix it up. Get somebody to be able to say about you, "He may not have reached the highest height, he may not have realized all of his dreams, but he tried." Isn’t that a wonderful thing for somebody to say about you? "He tried to be a good man. He tried to be a just man. He tried to be an honest man. His heart was in the right place." And I can hear a voice saying, crying out through the eternities, "I accept you. You are a recipient of my grace because it was in your heart. And it is so well that it was within thine heart."

I don’t know this morning about you, but I can make a testimony. You don’t need to go out this morning saying that Martin Luther King is a saint. Oh, no. I want you to know this morning that I’m a sinner like all of God’s children. But I want to be a good man. And I want to hear a voice saying to me one day, "I take you in and I bless you, because you try. It is well that it was within thine heart." What’s in your heart this morning? If you get your heart right . . . [gap in tape]

...On this morning, if I can leave anything with you, let me urge you to be sure that you have a strong boat of faith. The winds are going to blow. The storms of disappointment are coming. The agonies and the anguishes of life are coming. And be sure that your boat is strong, and also be very sure that you have an anchor. In times like these, you need an anchor. And be very sure that your anchor holds.

It will be dark sometimes, and it will be dismal and trying, and tribulations will come. But if you have faith in the God that I’m talking about this morning, it doesn’t matter. For you can stand up amid the storms. And I say it to you out of experience this morning, yes, I’ve seen the lightning flash. I’ve heard the thunder roll. I’ve felt sin-breakers dashing, trying to conquer my soul. But I heard the voice of Jesus, saying still to fight on. He promised never to leave me, never to leave me alone. No, never alone. No, never alone. He promised never to leave me. Never to leave me alone.

And when you get this faith, you can walk with your feet solid to the ground and your head to the air, and you fear no man. And you fear nothing that comes before you. Because you know that God is even in Crete. If you ascend to the heavens, God is there. If you descend to hell, God is even there. If you take the wings of the morning and fly out to the uttermost parts of the sea, even God is there. Everywhere we turn we find him. We can never escape him."

Martin Luther King, Ebenezer Baptist Church, Atlanta, Georgia, 3 March 1968

Martin Luther King: The Drum Major Instinct

So many, like the apostles in this sermon, wish to take what they want from the message of faith, and to leave the rest, have nothing to do with it. As Martin Luther King so wisely points out, this is a problem for all of us.

People wish to have the power to otherwise do what they will. They wish to use God as a sort of vending machine, a compliant God, if one knows the right words to compel Him to give them what they want.  And they think that they have no sin, when they choose to give what they wish to Him, grudgingly, as they serve themselves.   And this pride, and refusal to serve, is the sin of the Fallen.

"This is how we know who are the children of God and who are the children of the Satan: anyone who does not do what is good is not God’s child, nor is anyone who does not love their neighbor." 1 John 3:10

"And he answered, ‘Love the Lord your God with all your heart and with all your soul and with all your strength and with all your mind’ and, ‘Love your neighbor as yourself.’

'You have answered rightly,' Jesus replied. 'Do this and you will live.'

But he wanted to justify himself, so he asked Jesus, 'And who is my neighbor?' Luke 10:27-29”

And Martin Luther King corrects this tendency to be self-serving, rather than serving, in a most remarkable way in this famous sermon, an excerpt of which was played at his funeral observance.

From India: Corrupting Power Of Wealth In Politics Is Making the People Angry

This could be a headline in any number of countries.

Sonia Gandhi (born Edvige Antonia Albina Maino, 9 December 1946) is an Italian-born Indian politician and the President of the Indian National Congress, one of the major political parties of India. She is the widow of former Prime Minister of India, Rajiv Gandhi and belongs to the Nehru–Gandhi family.

Times of India
Corruption in politics riling people, Sonia Gandhi warns party
By Subodh Ghildiyal & Palak Nandi
Jan 19, 2013

JAIPUR: Taking serious note of middle class protesters taking to the streets over corruption, Congress president Sonia Gandhi said the lifestyles of leaders is giving rise to questions about the source of their wealth.

Speaking at Congress's chintan shivir (brainstorming session) here, Sonia said, "Celebrating weddings, festivals and happy events is one thing, what of lavish and ostentatious displays of wealth, pomp and status? Does this not beg the question, where is this wealth coming from?"

Her direct remarks caused a hush to descend on the meeting. "Our citizens are rightly fed up with the levels of corruption that they see in public life at high levels, but equally with the corruption they have to deal with in their daily lives,'' she said.

Sonia urged the party not to lose touch with the middle classes that backed the Congress in the 2004 and 2009 general elections. The party cannot afford "our growing educated and middle classes to be disillusioned and alienated with the political process".

The candid references to the middle class drift away from Congress, the need to keep alliances intact, a commitment to make women feel safer, and an admission that the party's base has eroded in traditional strongholds were key aspects of her speech as she set out the political tasks for her party.

Some of her comments were also seen to reflect her concern over the government's response to the outpouring of public anger over the Nirbhaya gang rape and criticism of police action against young protestors. "We have to recognize the new changing India, peopled by a younger, more aspirational, more impatient and more demanding generation. Our people are expecting much more from their political parties. Today's India is better informed and better equipped to communicate. This is a phenomenon, a churning that we must understand and continue to respond to."

Taking cognizance of the growing concern about women's safety, she said, "Atrocities on women, both in urban and rural India, are a blot on our collective conscience and a matter of great shame."

Sonia's carefully crafted speech referred to the principal political challenges before the party and the government at a time when UPA 2's credibility is seen to have taken a beating due to corruption scandals, an anemic economy and demoralizing electoral losses. "Is it not the case that we have squandered many opportunities that people are willing to give us simply because we have been unable to function as a disciplined and united team," she said...

Gold Daily and Silver Weekly Charts - RIP Adrian Douglas

I was sorry to hear that GATA Director Adrian Douglas passed away today.

US markets will all be closed on Monday in observance of Martin Luther King day.

Have a pleasant weekend.

SP 500 and NDX Futures Daily Charts - Triple Witch Highs, Complacency Reigns

As you probably know today was a triple witch and the put buyers were being beaten soundly especially in the non-tech areas.

VIX, which is a measure of risk sensitivity, took a big dive today. I used this to buy some volatility (long VIX) for a hedge on my long bullion.

I would not jump ahead of this ramp job in equities however since it looks like the debt ceiling confrontation will be deferred into April. This gives the wiseguys more room for antics.

We have a three day weekend in the US with Martin Luther King Day on Monday, on which all markets will be closed.

Have a pleasant weekend.

Hitlerland: Making a Deadly Peace with the Devil

"We cannot look to the conscience of the world when our own conscience is asleep."

Carl von Ossietzky, German editor of Die Weltbühne, awarded the Nobel Peace Prize in 1935


"It would be no sin if statesmen learned enough of history to realize that no system which implies control of society by privilege seekers has ever ended in any other way than collapse."

William Dodd, historian and US Ambassador to Germany, 1933

I am reading a new book titled Hitlerland, by Andrew Nagorski. Thank you to reader Andrew for recommending it. He knows I am very widely read in this period of history and find it fascinating both from an economic, sociological, and political perspective.

I was prepared for a rehashing of things I have already known and read, and I must admit I was initially put off a bit by the title which sounds frivolous. I was pleasantly surprised, even a bit amazed.

The book is highly original, and extraordinarily factual, in that Nagorski spent an extraordinary effort investigating eyewitness accounts, many of them unpublished, by Americans who lived there during the period in Germany from the Weimar Republic to the rise of Hitler and the beginning of the Second War.

He inserts minimal personal opinion and analysis into the writing, being more the journalist than the historian. He does treat the after-the-fact accounts with the proper regard for posturing and self promotion. He does have some very charming vignettes as well that make it a highly readable book.

It is well done, a 'must read' for anyone who wishes to understand that period of time from the perspective of those who lived it.  It adds a new dimension to a much written about period of time.  Remarkably so.

If there is anything that was surprising, it is the abject misery and despair of the German people during the Weimar Republic with the hyperinflation, and how few people actually saw the worst to come politically, after a false economic recovery, with the Crash of 1929. One knows these things, but they do not really understand them, not having lived it.

 Personal accounts help in this. This is why I found the book, When Money Dies by Adam Fergusson so helpful in this regard, as well as Ken Burns masterful documentary, The Civil War.

The fear of the Socialists and the Communists in particular is a key driver for the events of that time, and is not to be discounted.  The cynical dealing and irresoluteness of the Weimar politicians is another factor.  There were open fights in the streets on a regular basis, although they were often surprisingly 'orderly' as this book relates. Some of the passages are quite amusing for those familiar with the German penchant for orderliness, even in the midst of urban warfare.

The capacity for self-delusion and a bad compromise is amazing, especially during periods of confusion, fear, and distraction. And the moral base in Germany at that interwar period was already notoriously relativistic and given to occultism, odd theories, and Nietzchean extremes.  And after war, hyperinflation, and a new Depression, their spirit and will to resist evil was simply exhausted, especially when it was backed by systematic terror and force.

We ought not to be too critical of those people, many of the Americans included, who did not see the worst coming. Did you see the recent financial collapse coming, and what has followed? Do you even understand it yet? History may be amazed at your ignorance. And yet all the signs of trouble were there during the period from 1999 to 2007.

Some people were warning of the credit bubble, the imbalanced financial sector, and widespread fraud.  And the American people were distracted by a 'war on terror,' and not the collapse of their lives and savings after the decimation from a brutal world war that left the flower of their youth dead, crippled, or broken.

And then in Germany there was another Crash, and the onset of Great Depression, and the people thought, no, not again. Anything is better than this. And so the bargain with the devil was made, and after a brief blaze of false glory, hell followed.

This is not to excuse anything that was done, or permitted to happen. Far from it. But it is to place this sort of tragedy within its human context, and to remind us that we are all capable of such confused cowardice and acquiescence in the face of evil.  We must remain steadfast and resolute against it, especially before resistance demands the type of heroism of which few are capable.

The consensus of those who met Hitler was that he was a most ordinary person, with little charisma or appeal.  Dorothy Thompson called him 'the very prototype of the Little Man.'  He seemed nondescript, but inwardly mad, illogical and ineffective, and they were incredulous that he could rise to power.

A key tenet of the Nazis was the rejection of objective fact and reason in favor of the passions of 'the blood' and of instinct.  Truth was not an impartial consideration or serious limitation to conclusion and action.  That is a familiar refrain amongst ideologues and the more extreme elements of both left and right on the political continuum.

There are a few heroic figures in this book, and prominent among them is the Pulitzer prize winning journalist Edgar Ansel Mowrer, whom I had never heard about before this, which is a shame. I will let you read about him for yourself.

I had not realized how badly the prospects of the National Socialist party had fallen in the years after Hitler's imprisonment for the abortive putsch and before his sudden rise to power as chancellor.  They were essentially done.  But they served a purpose as a cat's paw for those wealthy bankers and industrialists who feared the Communists and Socialists, and for cynical Weimar pols who were too busy fighting for power amongst themselves to see the rising threat of fascism.

I had not remembered that during the Night of the Long Knives not only the SA leadership was taken on shot, but old political rivals as well, some of whom were retired from political life. Hitler's ruthlessness was exhaustive, and examples were often made. Again, we ought not to discount the regular use of domestic terror as party policy from the very onset of its ascendancy.

That rise to power was supported by the fresh fears and concerns brought on by the Great Depression which knocked Germany back off course, and the craven weakness of spirit of the politicians of his day. In the manner of Mussolini he gained power almost by default, and then secured it with a brutal iron fist. I am now convinced that without that terrible economic collapse after 1929 to provide a ready platform, he would have died a relatively forgotten crank.

One thing that I wonder about often is the attention given to Hitler because of his abominable atrocities, and the relatively little time spent on his role model, Mussolini. I have read a bit more on him, and he was despicable, a ruthless thug. The early Nazis were referred to by the Americans as the fascisti.  

Here is a brief excerpt from the accounts of the American journalist Edgar Mowrer. It is not anything I had not known from other readings but gives one a sense of the style in which Nagorski allows events to unfold through the words of his witnesses to history, and how he weaves their testimony into a rich tapestry.

If You Remember Nothing Else About the Financial Crisis, Remember This

Few knowledgeable people talk about the need for financial reform anymore, just a few short years after the financial crisis and collapse.

The right talks about getting tough on the weak and settling old scores, and the left is losing its way in obtuse gimmickry and quack economics that promote their own statist agendas. Pile enough rancid margarine on the bread and you won't see its thinness or the mold.

The broad center, independents, and progressives are largely silent, having averted one almost certain disastrous choice in the most recent national election, only to find themselves still on unsteady ground with a weak and wavering 'champion' who may once more betray their trust for his own interests, and the deal.

And yet this is not nearly our darkest hour. That may be yet to come.

All the reform that has occurred so far has been largely window-dressing. Financial and political corruption is a tax that the real economy cannot support or endure while remaining free.

 Until there is substantial reform, there will be no sustainable recovery. This is only the appearance of recovery in the empire of illusion.

"From 1973 to 1985, the financial sector never earned more than 16 percent of domestic corporate profits. In 1986, that figure reached 19 percent. In the 1990s, it oscillated between 21 percent and 30 percent, higher than it had ever been in the postwar period. This decade, it reached 41 percent.

Simon Johnson, 13 Bankers


"The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes emerging markets, and is at the center of many emerging-market crises.

If the IMF’s staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are to prevent a true depression, we’re running out of time."

Simon Johnson, The Quiet Coup

Gold Daily and Silver Weekly Charts

It is interesting to see stocks and the metals moving back together again.

I would very much like to see gold and silver return to and take out the pre-December levels. And if there is a stock market correction I would like even more to see a divergence and a flight to safety in the precious metals.

So far gold has made a bottom at a 60% correction off the prior range, aka the 'cup.' Yes, I am still keeping an eye on that one.

So let's see what happens.