No Updates Tonight - Snow Day - FOMC Tomorrow

See you tomorrow.  I am taking a snow day.

Postscript:    We had about ten inches of snow.   There was a period of sleet that kept the totals down, but made the snow very heavy and packed.   And we had a blizzard for a while this morning, so there were some fairly substantial drifts across the drive.

I bought a Toro 826 OXE at the end of last year, and it just tore that snow up, and did not clog once.   I may only use it a few times a year, but it is worth it.  

Stocks and Precious Metals Charts - Snow Day Tomorrow, Snow Job on Wednesday

"The world would be better off if people tried to become better,   And people would become better if they stopped trying to be better off.   For when everyone tries to become better off, nobody is better off.   But when everyone tries to become better, everyone is better off.

Everybody would be rich if nobody tried to become richer.   And nobody would be poor if everybody tried to be the poorest.   And everybody would be what he ought to be if everybody tried to be what he wants the other fellow to be."

Peter Maurin

As you may have heard a nor'easter will be blowing up the coast and through the northeastern US late tonight and tomorrow.  They are talking about a foot and a half of snow with blizzard conditions nearer to the coast.

Fitting that the usual FOMC snowjob also begins tomorrow, with an expected rate hike of 25 bp on Wednesday.   They must raise rates to keep the economy and particularly wages from overheating, or else we might experience inflation.  

This from the Daily Kos:  According to CBO, a 64-year-old with income of $26,500 pays $1,700 for ACA coverage. Under Ryan's bill that person would pay $14,600. That is more than half their income.

This, to cover increased military spending.  And tax cuts for the wealthiest few and corporations.  Nicely done.

There was some intraday information on the Trust and Funds NAV. I have also included the press release regarding the Sprott unsolicited takeover attempt of the Central Fund.

I am going to be posting some updates tomorrow, storm conditions and snow shoveling duties allowing.

As you may recall I purchased a Subaru Forester last fall.  We are very pleased its feature set, and the 32 MPG mixed city and highway mileage it is getting, despite having a very responsive engine and all wheel drive.  I am glad I made the change.

Have a pleasant evening.

NAV Premiums of Certain Precious Metal Trusts and Funds

Sprott Offer For Central Fund of Canada Press Release dated March 8

Sprott Asset Management LP (“Sprott”), a wholly owned subsidiary of Sprott Inc. (TSX:SII), today announced that it has filed an application (the “Application”) with the Court of Queen’s Bench of Alberta (the “Court”) to formally commence proceedings which, if successful, would result in the Class A shareholders of Central Fund of Canada Limited (“CFCL”) (NYSEMKT:CEF) (TSX:CEF.A), effectively, exchanging their Class A shares for trust units of a newly-formed Sprott Physical Gold and Silver Trust (the “New Sprott Trust”) on a net asset value (“NAV”) for NAV basis pursuant to a plan of arrangement (the “Arrangement”). The aggregate value of the proposed Arrangement is approximately US$3.1 billion and stands to unlock $304 million in shareholder value as a result of CFCL’s persistent discount to NAV.

The New Sprott Trust would be managed by Sprott and be substantially similar to the existing Sprott Physical Gold Trust (NYSE Arca:PHYS)(TSX:PHY.U) and Sprott Physical Silver Trust (NYSE Arca:PSLV)(TSX:PHS.U) and would include Sprott’s best-in-class physical bullion redemption feature.

Democratic Establishment and the 'Professional Class': Whom Do You Serve?

"No one can serve two masters, for he will hate the one and love the other, or he will be devoted to the one, and be neglectful of the other; and so you cannot serve both God and Mammon."

Matt 6:24


"What is good? All that heightens the feeling of power in a man, the will to power, power itself. What is bad? All that is born of weakness. What is happiness? The feeling that power is growing, and that resistance is overcome."

Friedrich Nietzsche, The Antichrist

It's time for a new New Deal.

But it is not going to happen.   The corporate Democrats won't back it, or even mention it.   And the Republicans are busy rolling every shred of the old New Deal back, from sound financial regulation to basic safety nets for the weak, the sick, the unfortunate, and the old.

Why?

Because their Big Money master, Mammon, would not be pleased.

News flash.

Not everyone who suffers misfortune does so because they are lazy and purposely made bad choices.

Not everyone who is working a full time job or several part time jobs is in good financial shape, because too many jobs are paying poverty wages with inadequate benefits.

One half of the US population is now living below the poverty level, and are one unfortunate event away from impoverishment and possible homelessness.

Free market competition of the fittest, and might makes right, appears to be the theme of the US elite of both parties.  And they are fine examples of the best getting what they deserve, which is the most. Of everything.

And if they have the most because they deserve it, it follows that those who have a hard time of it, the unfortunate, the underprivileged, the other 90% of the country, have less because they deserve that too.  How can I be a real winner if there are no losers?

The fortunate think that the others are unworthy, are not human to the same degree as the best and the brightest.  They are flawed, disabled, stupid, and they deserve to be deprived, and then eliminated by the market forces.  Unfortunate, but necessary.  This is the law of nature.

Everyone can cite some example of people that cause all their own problems.  And so everyone who has problems is just like them.  Losers.  If they could only be like me, so good, so virtuous.  Winning....

How is this all that essentially different from some of the worst, most vile civilizations in history, except they have not carried this perversion of justice to the next level—  yet?

Many do not have healthcare not because they make bad choices, or eat wrong, or don't act like you do.   They have problems because it is a dirty rotten system that rips the financial hearts out of people all for the sake of a fortunate few.   It is like the financial system that weaves a series of traps for the common person, and then despises them for their weakness.

Here's another news flash.

We are not all that much by ourselves. We may think that we are, but we are not.  We may have worked hard, yes, but many people work hard. Most I would say, although we like to imagine some example of unworthiness, and then think ourselves victimized, deprived in some way, by their mere existence.

'All I want it so be left alone.' And so it will be given to you, and that long loneliness will be yours.

The 'lesser of two evils' is not a strategy.   It is a convenient rationale to accept a form of evil.

We are making our own choice in this, just as one might judge others harshly to 'make their choices as well.'   Just know whom it is that you serve by that choice.  Because you will take the consequences of that choice, as it has been promised to you.  No one can serve two masters.

Such pride, such perverted justice, such hypocrisy is as old as Babylon, and as evil as sin.

“Beware of the leaven of the Pharisees, which is hypocrisy."


Caution on language.

Stocks and Precious Metals Charts - The Metals Hold the Line

Despite some intraday action, stocks finished largely unchanged.

Precious metals managed to hold their key levels in the face of the 'better than expected' Jobs Report.

The FOMC will be announcing their decision on rates next Wednesday.  I have included the economic calendar for next week below.

The SEC has rejected the Winklevoss twins proposal for an ETF for Bitcoin, sending the value of the digital currency lower after hours.   I am not a fan of Bitcoin for anything but a trade.

I have taken down my short position off the Russell 2000, which I had placed at the end of the first trading day for the SNAP IPO.   What a piece of crap.

I did pull the trigger on some silver purchases.   As I said, I will be much more impressed if silver can hold its level here and start moving back higher.  I have the '30' target in mind as a measuring objective on the chart as you can see below.  But first silver must break out above 21.50, again as you can see on the chart.

I wish them well, but if the Trump administration does not implode sometime in the next two years I will be very surprised.  They are in a tough position, surrounded by willful ideologues on both the left and the right, and in the calmer moments they do seem to seize the initiative to figuratively shoot themselves in the foot.

We are in the typical wacky weather month for March, with 70 degree days followed by snow.  Next week I hear we might be enjoying a classic nor'easter blizzard.  Let's see if that develops, as it may affect the NY trade.  It may also impede activity in Washington DC, but that is often a good thin.

Please remember God's creatures in this hard weather, and the poor both materially and spiritually as always.

Have a pleasant weekend.