Showing posts sorted by relevance for query ossietzky. Sort by date Show all posts
Showing posts sorted by relevance for query ossietzky. Sort by date Show all posts

28 February 2025

Stocks and Precious Metals Charts - Awful Faces From Beyond

 

"We sit by and watch the barbarian. We tolerate him in the long stretches of peace, we are not afraid. We are tickled by his irreverence; his comic inversion of our old certitudes; we laugh. But as we laugh we are watched by large and awful faces from beyond, and on these faces there are no smiles.”

Hilaire Belloc, The Barbarians, 1912

"The Hitler Party likes to emphasize its uniqueness, and it really should not be measured against conventional yardsticks.   Even if it were to explode into smithereens today, the fact would remain that it recently won fifteen million voters.  It must satisfy not only a particular political need, but also a specifically German emotional condition. Its brutality, loud-mouthedness and brainlessness have acted not as a deterrent but rather as an attraction, and have generated unconditional and subservient followers."

Carl von Ossietzky, Die Weltbühne, January, 1933

"Representative institutions no longer represent voters.  Instead, they have been short-circuited, steadily corrupted by an institutionalized system of bribery that renders them responsive to powerful interest groups whose constituencies are the major corporations and wealthiest Americans.  The courts, in turn, when they are not increasingly handmaidens of corporate power, are consistently deferential to the claims of national security.

Elections have become heavily subsidized non-events that typically attract at best merely half of an electorate whose information about foreign and domestic politics is filtered through corporate-dominated media.  Citizens are manipulated into a nervous state by the media's reports of rampant crime and terrorist networks, by thinly veiled threats of the Attorney General and by their own fears about unemployment.  What is crucially important here is not only the expansion of governmental power but the inevitable discrediting of constitutional limitations and institutional processes that discourages the citizenry and leaves them politically apathetic.

No doubt these remarks will be dismissed by some as alarmist, but I want to go further and name the emergent political system 'inverted totalitarianism.'  By inverted I mean that while the current system and its operatives share with Nazism the aspiration toward unlimited power and aggressive expansionism, their methods and actions seem upside down.   For example, in Weimar Germany, before the Nazis took power, the 'streets' were dominated by totalitarian-oriented gangs of toughs, and whatever there was of democracy was confined to the government.

In rebuttal it will be said that there is no domestic equivalent to the Nazi regime of torture, concentration camps or other instruments of terror.  Instead, inverted totalitarianism has its own means of promoting generalized fear; not only by sudden 'alerts' and the publicized heavy-handed treatment of aliens and the Devil's Island that is Guantánamo Bay, but by a pervasive atmosphere of fear abetted by a corporate economy of ruthless downsizing, withdrawal or reduction of pension and health benefits; a corporate political system that relentlessly threatens to privatize Social Security and the modest health benefits available, especially to the poor. 

With such instrumentalities for promoting uncertainty and dependence, it is almost overkill for inverted totalitarianism to employ a system of criminal justice that is punitive in the extreme, relishes the death penalty and is consistently biased against the powerless.

Thus the elements are in place: a weak legislative body, a legal system that is both compliant and repressive, a party system in which one party, whether in opposition or in the majority, is bent upon reconstituting the existing system so as to permanently favor a ruling class of the wealthy, the well-connected and the corporate, while leaving the poorer citizens with a sense of helplessness and political despair, and, at the same time, keeping the middle classes dangling between fear of unemployment and expectations of fantastic rewards once the new economy recovers.

That scheme is abetted by a sycophantic and increasingly concentrated media; by the integration of universities with their corporate benefactors; by a propaganda machine institutionalized in well-funded think tanks and conservative foundations; by the increasingly closer cooperation between local police and national law enforcement agencies aimed at identifying terrorists, suspicious aliens and domestic dissidents.  What is at stake, then, is nothing less than the attempted transformation of a tolerably free society into a variant of the extreme regimes of the past century."

Sheldon Wolin, Inverted Totalitarianism, May 1, 2003


Stocks took a dive again today, but managed to rally back and post some measurable gains.

Gold and silver were smacked again, hard.

The bears were leaning pretty heavily on the miners, particularly some that were ex-dividend today.

Buying them on the dip was an edgy trade at times.

But they managed to come back again into the close, somewhat.

VIX declined.

The Dollar rallied.

And so we toddle on into the weekend. 

As a reminder there will be a Non-Farm Payrolls report on Friday March 7th.

The weather has become rather warm here the last few days, rising into the low 60s while the sun is out.

And so today was a good day to wear shorts while taking Daisy for her afternoon walk.

It's the little things that make life worth living.

Need little, want less, love more.

For those who abide in love, abide in God, and God in them.

Have a pleasant weekend.

12 March 2018

Stocks and Precious Metals Charts - The Primacy of Conscience


"All my life I have been fighting against the spirit of narrowness and violence, arrogance, intolerance in its absolute, merciless consistency.   I have also worked to overcome this spirit with its evil consequences, such as nationalism in excess, racial persecution, and materialism.  In regards to this, the National Socialists are correct in killing me.

I have striven to make its consequences milder for its victims and to prepare the way for a change.  In that, my conscience drove me – and in the end, that is a man's duty."

Helmuth James Graf von Moltke,  Executed in Plötzensee Prison on 23 January 1945

As journalist activist Carl von Ossietzky put it, 'we cannot hope to affect the conscience of the world when our own conscience is asleep.'

Heroic virtue shines across the vast seas of history like beacons to those in the troubled waters of general deception.

Stocks were led by a narrow group of big cap tech related stocks, with the NDX 100 driving all the gains.

Tomorrow we will have the CPI data, which *could* move the market. Some of the yield related futures are pricing in a four rate hike year. A strong CPI number may encourage that.

Gold and silver showed some mild strength, not as a flight to safety, but mostly off a slightly weaker dollar.

When traded as currencies, the precious metals are decoupled from their fundamental supply and demand dynamics as commodities.

Next week will be Jay Powell's first FOMC meeting. The Fed is widely expected to decide on a 25 bp rate hike.

This Friday is a stock option expiration. We may see some shenanigans on the precious metals related stocks.

The CBOE put-call ratio is back to the pre-meltdown levels.

Corruption and deception remain the coin of the realm in the halls of power in New York and Washington.

Have a pleasant evening.


16 March 2022

Stocks and Precious Metals Charts - The Darkness of This World - Quad Witching Expiration Friday

 

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

Carl von Ossietzky

 

"In the [60 Minutes] interview, Kroft asks [Michael] Lewis: 'What’s the headline here?'  Lewis responds: 'Stock market’s rigged.  The United States stock market, the most iconic market in global capitalism is rigged.'

Kroft then asks Lewis to state just who it is that’s rigging the market.  Lewis responds that it’s a 'combination of these stock exchanges, the big Wall Street banks and high-frequency traders.'

It’s just shy of eight years since Lewis wrote the definitive book on the corrupted structure of Wall Street, and yet, Congress has taken no meaningful action to reform it.

Congress has taken zero meaningful actions to reform Wall Street since it brought the U.S. to its economic knees in 2008 because much of Congress is receiving large chunks of campaign dough from Wall Street and its outside lawyers, as well as from hedge funds that drop $10 million to a Super Pac as casually as paying for lunch at Milos.

The failure of America to reform its campaign financing structure has corrupted Congress in its ability to reform Wall Street. In turn, the lack of reform of Wall Street has left the U.S. with a dangerous financial system...”

Wall Street On Parade, Fog of War Providing Smoke Screen for Dangerously Unreformed Wall Street
 

"Beware of false prophets, who come to you in sheep's clothing but inwardly are ravenous wolves." 

Matthew 7:15 

 

The Fed did as it was expected today and raised its benchmark interest rate by 25 bp.

After some initial fakeout moves, stocks went into full risk on rally mode, going out near the highs.

The Dollar fell about 75 cents, and the VIX dropped back to its 50 day moving average.

Surprisingly enough both gold and silver came well off their lows, and finished in the green.

Let's see how bully goes into the weekend tomorrow.

As a reminder, this Friday is a quad witching index option expiration. 

What a surprise.

Have a pleasant evening.


 







07 April 2015

SP 500 and NDX Futures Daily Charts - Where's The Recovery™ - Shout and Feel It

 
"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


There isn't any recovery.  Or at least the false recovery that has been erected is showing great holes through its painted canvas and thin veneer of distorted statistics.

The Fed will still raise interest rates at least once or twice, for 'technical reasons' that have nothing to do with the real economy and everything to do with their own financial engineering practices and the desires of the financiers.

The credibility trap remains a powerful snare for the pampered princes and princesses.  How can they admit what is wrong without endangering their own privileged positions and undermining the 'authority' that they so undeservedly enjoy?
 
And so by example and by continuing reinforcement, lies and deception have become the generally accepted way of doing business in the land of the exceptional.  Exceptionally self-deluded that is.
 
The Banks must be restrained, and the financial system reformed, with balance restored to the economy, before there can be any sustainable recovery.

Have a pleasant evening.


 





05 April 2022

Stocks and Precious Metals Charts - The Arsenal of Kleptocracy - Rinse and Repeat

 

"All the most noted destroyers and deceivers of our species, all the founders of arbitrary governments and false religions have been extraordinary people; and nine tenths of the calamities that have befallen the human race had no other origin than the union of high intelligence with low desires."

Thomas Babington Macaulay


"This empire, unlike any other in the history of the world, has been built primarily through economic manipulation, through cheating, through fraud, through seducing people into our way of life, through the economic hit men."

John Perkins

 

"Democracy has become a weapon of moneyed interests.  It uses the media to create the illusion that there is consent from the governed.  The notion of democracy is often no different than living under a plutocracy or a government by wealthy elites.”

Oswald Spengler, The Decline of the West


"Mischief springs from the power which the moneyed interest derives from a paper currency which they are able to control, from the multitude of corporations with exclusive privileges which they have succeeded in obtaining in the different States, which are employed altogether for their benefit."

Andrew Jackson, Farewell Address


"We’re told that we’re a polarized society, right?  That’s the way the ruling classes have manipulated people for more than two thousand years: divide and rule.   The only difference between the Republican and Democratic parties is the velocities with which their knees hit the floor when corporations knock on their door."

Ralph Nader

 

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

Carl von Ossietzky

Stocks took a dive today in a 'risk off' session that smelled like the rinse to yesterday's wash.

I hope you saw the article I linked on the sidebar that disclosed that the Fed provided north of a trillion dollars in liquidity to the global Banks during the stock market slump in March.

Gold and silver fell off today, a little surprising with regard to gold, but adding to the suspicion that this was not a conventional risk off day.

The Dollar took the 99 handle and then some.

VIX bounced back higher.

Wash, rinse, repeat.

The Banks and their systems seem to be the new dreadnoughts in the latest form of US international 'relations.'

Have a pleasant evening.







23 May 2025

Stocks and Precious Metals Charts - Large and Awful Faces From Beyond

 

"The Hitler Party likes to emphasize its uniqueness, and it really should not be measured against conventional yardsticks.   Even if it were to explode into smithereens today, the fact would remain that it recently won fifteen million voters.  Its brutality, loud-mouthedness and brainlessness have acted not as a deterrent but rather as an attraction, and have generated unconditional and subservient followers."

Carl von Ossietzky, Die Weltbühne, January, 1933

"The quiet words of the wise are worth more than the shouts of a ruler of fools. Wisdom is better than weapons of war, but one sinful man can destroy much that is good."

Ecclesiastes 9:17-18

"O Jerusalem, Jerusalem, you who murder the prophets and abuse those whom God has sent to you as messengers. As you have willed it, so your house is now yours to command— but it is made desolate.”

Matthew 23:37-38

"The Barbarian hopes — and that is the mark of him, that he can have his cake and eat it too.  He will consume what civilization has slowly produced after generations of selection and effort, but he will not be at pains to replace such goods, nor indeed has he a comprehension of the virtue that has brought them into being.  Discipline seems to him irrational, on which account he is ever marvelling that civilization, should have offended him with priests and soldiers. 

In a word, the Barbarian is discoverable everywhere in this, that he cannot make: that he can befog and destroy but that he cannot sustain; and of every Barbarian in the decline or peril of every civilization exactly that has been true.

We sit by and watch the barbarian. We tolerate him in the long stretches of peace, we are not afraid.  We are tickled by his irreverence; his comic inversion of our old certitudes and our fixed creed refreshes us; we laugh.  But as we laugh we are watched by large and awful faces from beyond, and on these faces there are no smiles.

We permit our jaded intellects to play with drugs of novelty for the fresh sensation they arouse, though we know well there is no good in them, but only wasting at the last.  The real interest of watching the Barbarian is not the amusement derivable from his antics, but the prime doubt whether he will succeed or no, whether he will flourish.  He is, I repeat, not an agent, but merely a symptom, yet he should be watched as a symptom."

Hillaire Belloc, This That and the Other, 1912

“If the devil tells you something is too fearful to look at, look at it. If he says something is too terrible to hear, hear it. If you think some truth unbearable, bear it.”

G. K. Chesterton, The Wisdom of Father Brown, 1914


The US will be observing Memorial Day this coming Monday.  The markets will be closed.

Stocks were weak on fresh tariff threats from Trump.

Gold and silver rallied as the Dollar swooned back down to the bottom of the 99 handle again.

There will be a precious metals futures option expiration this coming Tuesday. 

VIX ticked up a bit, but still remains relatively subdued.

Need little, want less, love more.  For those who abide in love abide in God, and God in them. 

Have a pleasant weekend.