SP 500 and NDX Futures Daily Charts - First and Last

“There was a certain rich man who was splendidly clothed in purple and fine linen and who lived each day in luxury. 20 At his gate lay a poor man named Lazarus who was covered with sores. As Lazarus lay there longing for scraps from the rich man’s table, the dogs would come and lick his sores.

“Finally, the poor man died and was carried by the angels to be with Abraham. The rich man also died and was buried, 23 and his soul went to the place of the dead. There, in torment, he saw Abraham in the far distance with Lazarus at his side.

“The rich man shouted, ‘Father Abraham, have some pity! Send Lazarus over here to dip the tip of his finger in water and cool my tongue. I am in anguish in these flames.’

“But Abraham said to him, ‘Son, remember that during your lifetime you had everything you wanted, and Lazarus had nothing. So now he is here being comforted, and you are in anguish. And there is a great chasm separating us. No one can cross over to you from here, and no one can cross over to us from there.’

“Then the rich man said, ‘Please, Father Abraham, at least send him to my father’s home. 28 For I have five brothers, and I want him to warn them so they don’t end up in this place of torment.’

“But Abraham said, ‘Moses and the prophets have warned them. Your brothers can read what they wrote.’

“The rich man replied, ‘No, Father Abraham! But if someone is sent to them from the dead, then they will repent of their sins and turn to God.’

“But Abraham said, ‘If they won’t listen to Moses and the prophets, they won’t be persuaded even if someone rises from the dead.’”

Luke 16:19-31

 

And so it was then, and is now.

Was yesterday's sharp downdraft in equities just another rinse day in the land of fools and grifters?

 

The global economy has become a deception and then a farce, which will end in tragedy. 

 

And this is because of the greed and self-delusion of a shameless few and their enablers, whose foolishness would make even the angels tremble.

 

It would have been better for them if they had never been born.

Have a pleasant evening.

 

 

 

 

 

 

Gold Daily and Silver Weekly Charts - How Unusual: Precious Metals Hit on Option Expiration

"Certainly there were many others as reprehensible and irresponsible as those who played the leading roles. The German people were the victims. The battle, as one who survived it explained, left them dazed and inflation-shocked.    They did not understand how it had happened to them, and who the foe was who had defeated them."

Adam Fergusson, When Money Dies: The Nightmare of the Weimar Collapse

June is a big, active month for gold on the Comex.

And today was the option expiration for the precious metal June contracts.

Le voilà, comme prévu.

What else might we have expected?  Honesty?  Price discovery?  A market clearing price between users and suppliers?  

These are markets that have been willfully overwhelmed and misdirected by speculation.  There are no fundamentals in The Bucket Shop, just what is essentially full time market rigging, with little to no product changing hands between long term investors and suppliers.

And similarly, like healthy nourishment in a snack cake, so there is still little to no recovery in The Recovery™.  

When the reckoning for this protracted folly and organized plunder finally comes, they will all be so amazed.

 

It is so very modern to think that things are just as we say they are, because we say so.  And nowhere is this psychosis more apparent than in modern economics and money.  

 

 It is the ultimate tyranny of selfishness and egoism, and will last as long as the masters can keep extending their power and their will, crushing all dissent and all others in their path,

 

And then comes the downfall, the sickening plunge, and the moment of terrible lucidity when the music stops.  And the illusion dies.

Have a pleasant evening.

 

 

 

 

SP 500 and NDX Futures Daily Charts - Rinse Day

 

They don't always put up a billboard with flashing lights, but often enough the next move in the market is pretty well-illuminated for those who are not from out of town.

And so we had the downdraft in stocks today, because of 'better than expected economic data' that 'might cause the Fed to raise rates sooner' rather than later.

Complete and utter baloney, a story for the tourists.

Stocks were jammed up against overhead resistance, and the pros were handing off their inflated shares to the specs and institutions, and positioned themselves for a downdraft.

And so today I covered the 'aggressive' short and took the profit. Maybe we will get more downside, or upside, but it won't be because of any economic news of the mild sort we got this morning.

Durable good are notoriously volatile, and anyone who bases investment decisions off squiggles like this, or the consumer index which is a lagging indicator of the stock market. The housing data was pretty much inline, but housing data these days makes the work of the BLS look good.

So there you are, another day in the Imperial Republic.

Have a pleasant evening.

 

Why We Fought: On the Four Freedoms Speech, 6 January 1941

There should be not doubt that the work for the four freedoms was not nearly finished after the end of the Second World War. The rights of minorities, and women, and the working classes took a long time to come, and are still in the process of being fulfilled and protected as the forces of progress and repression, of money and power versus moral principles, ebbs and flows.

But in judging what has gone before us, we ought not to forget the context in which the great lights of history existed and fought.

And before we judge the Roosevelts, Lincolns, and Jeffersons of history too harshly and out of context, as is the fashion for those who would tear down giants to make their own lack of stature and accomplishment less appalling, let us first look at our own times, and our own actions, and judge ourselves first with these same strict measures we would apply so blithely in our ignorance and oversimplified prejudices to others.