China Offtakes 59.12 Tonnes of Gold For Week Ending 13th February

China withdrew 59.12 tonnes of gold bullion from the Shanghai Gold Exchange for the week ending 13 February.

 

This makes 374 tonnes year to date.

 

China has withdrawn a total of 8,288 tonnes of gold from the SGE.

Gold Daily and Silver Weekly Charts - Ounce by Ounce - Farewell to Empire

The Capitol stuffs its ears when it hears you; the world reviles you. I can blush for you no longer, and I have no wish to do so.  

The howls of Cerberus, the dog of the underworld, though resembling your speeches, will be less offensive to me, for I have never been associated with Cerberus, and I need not be ashamed of his howling.

Farewell, but make no music; commit murder, but write no verses; poison people, but do not dance; be an incendiary, but play no harp. This is the wish and the last friendly advice sent to you by me.

Petronius, Arbiter Elegantiae, Farewell to His Emperor

The Western gold market is a bucket shop.  Its manipulations are slowly depleting their prospects and their reserves.

 

Their vaults are being drained of gold, ounce by ounce, day by day, year by year.

 

They have taken flight from the moral high ground, and have found their true place, in wallowing with pigs.

 

It is a long walk down a dark hallway to the waiting crowd, and the inevitable day of reckoning, when you too are fallen.    You can and do extend your time by hiding and running, masquerading and lying, but you will never rest, in this world or the next.

 

Besides the incremental output from mining, the basis for the great Ponzi scheme keeps getting smaller, and smaller. 

 

Time is on our side.  And this is the nature of our warfare;  we rise by falling.

For we wrestle not against flesh and blood, but against principalities and powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.

 

Have a pleasant evening.

 

 

 

 

SP 500 and NDX Futures Daily Charts - Complicity of the Advantaged in the Nakedness of Kings

"Folly is a more dangerous enemy to the good than evil. One can protest against evil; it can be unmasked and, if need be, prevented by force. Evil always carries the seeds of its own destruction, as it makes people, at the least, uncomfortable. Against folly we have no defence. Neither protests nor force can touch it; reasoning is no use; facts that contradict personal prejudices can simply be disbelieved — indeed, the fool can counter by criticizing them, and if they are undeniable, they can be just pushed aside as trivial exceptions.

So the fool, as distinct from the scoundrel, is completely self-satisfied; in fact, he can easily become dangerous, as it does not take much to make him aggressive. A fool must therefore be treated more cautiously than a scoundrel; we shall never again try to convince a fool by reason, for it is both useless and dangerous."

Dietrich Bonhoeffer

"You have repeatedly confessed to-night, by direct avowal or ignorant statement, that you do not know the working class. But you are not to be blamed for this. How can you know anything about the working class? You do not live in the same locality with the working class. You herd with the capitalist class in another locality. And why not? It is the capitalist class that pays you, that feeds you, that puts the very clothes on your backs that you are wearing to-night. And in return you preach to your employers the brands of metaphysics that are especially acceptable to them; and the especially acceptable brands are acceptable because they do not menace the established order of society.

Be true to your salt and your hire; guard, with your preaching, the interests of your employers; but do not come down to the working class and serve as false leaders. You cannot honestly be in the two camps at once. The working class has done without you. Believe me, the working class will continue to do without you. And, furthermore, the working class can do better without you than with you."

Jack London, The Iron Heel

 

No warning will suffice to powerful fools who, driven mad by hubris and lust for power, weave the hangman's ropes of their own destruction.  They preach the necessity of hardness, and practice the circumvention of the law for themselves and their associates in injustice. 

 

But when the reckoning comes for them, as it eventually does, they always seem astonished, but unfortunately never to the point of speechlessness.  They will harangue fortune, and all those imaginary enemies who conspired to their downfall, to the bitter end.

The Western elite are in a denial, and a bubble of delusion, so profound that I am concerned that when reality intrudes their reaction will be mishandled, provocative, and likely to hasten a generational change that is already occurring and being fiercely resisted, slowly.

Have a pleasant evening.

 

Gold Daily and Silver Weekly Charts - Bucket Shop

Gold was hit fairly hard for no apparent reason this morning, but recovered shortly afterwards.

 

See the Dr. Evil strategy  favored by some of the large trading firms, and running afoul of the regulators from time to time when they step on the wrong toes, or skin the wrong cats.

 

Here is an account of Barclays being specifically fined for stepping on a big customer using gold manipulation.

This is the liar's poker market on the Hudson. 

The Comex is now the kind of market where speculators and trading companies wager with many thousands of paper positions representing various real world items, with no intent to actually take or give delivery of them with any connection to the real world of commerce.  

They wager with almost wholly synthetic positions.   As such, the Comex has become a virtual bucket shop that is by tradition and custom still setting many critical prices for the world markets.

As defined by those august solons on the US Supreme Court in Gatewood v. North Carolina, 27 S.Ct 167, 168 1906 a bucket shop is:

"an establishment, nominally for the transaction of a stock exchange business, or business of similar character, but really for the registration of bets, or wagers, usually for small amounts, on the rise or fall of the prices of stocks, grain, oil, etc., there being no transfer or delivery of the stock or commodities nominally dealt in."

These sorts of long term price manipulations have very corrosive effects on real world supply factors, and are often the source of market dislocations as they collapse, not to mention large fortunes for a few, and human misery for many.

 

There was intraday commentary here, Pictures of a Currency War, With Narrative.

 

They say that no non-purely defensive war can occur unless the moneyed interests see it as a profitable opportunity.   And I say, that goes double for 'financial wars' such as we are seeing now.

 

A little gold and silver were shoved around the plate today in the 'Delivery Report' and the warehouses.

 

Have a pleasant evening.