30 May 2017

Stocks and Precious Metals Charts - Swing Fever


Swing Kids - The Swing Kids (German: Swingjugend) were a group of jazz and swing dance fans in Germany in the 1930s, primarily in the port city of Hamburg and Berlin. They were 14 to 21-year-old boys and girls. They admired the British and American youth culture, defining themselves with swing music as opposed to the National-Socialist fashions and behaviours, especially those of the Hitler Youth (German: Hitlerjugend).

Their dress consisted of long, often checked English sports jackets, shoes with thick light crepe soles, showy scarves, Anthony Eden hats, an umbrella on the arm whatever the weather, and, as an insignia, a dress-shirt button worn in the buttonhole, with a jeweled stone. The girls too favored a long overflowing hair style. Their eyebrows were penciled, they wore lipstick and their nails were lacquered.

The Swingjugend rejected the Nazi state, its ideology and uniformity, its militarism, the 'Führer principle' and the conformity of the Volksgemeinschaft (people’s community). They rebelled against all this restriction of personal freedoms with jazz and swing, which stood for a love of life, self-determination, non-conformism, freedom, independence, liberalism, and internationalism.

On 18 August 1941, in a brutal police operation, over 300 Swingjugend were arrested. The measures against them ranged from cutting their hair and sending them back to school under close monitoring, to the deportation of the leaders to concentration camps. The boys went to the Moringen concentration camp while the girls were sent to Ravensbruck.This mass arrest encouraged the youth to further their political consciousness and opposition to National Socialism. They started to distribute anti-fascist propaganda. In January 1943, Günter Discher, as one of the ringleaders of the Swing Kids, was deported to the youth concentration camp of Moringen.

On 2 January 1942, Heinrich Himmler wrote to Reinhard Heydrich calling on him to clamp down on the ringleaders of the swing movement, recommending a few years in a concentration camp with beatings and forced labor.

The Swing Kids of Hamburg at some point had contacts with another famous resistance movement, when three members of the White Rose (German: Weiße Rose) developed a sympathy for the Swing Kids. No formal cooperation arose, though these contacts were later used by the Volksgerichtshof ("People's Court") to accuse some Swing Kids of anarchist propaganda and sabotage of the armed forces. Their consequent trial, death sentences and executions were averted by the end of the war.

There will be a Non-Farm Payrolls report on Friday of this week.

The inventory of physical bullion in Hong Kong continues to decline.

Stocks were little changed in a very quiet trade.

The Western establishment continues to grind against the impulse of democratic populism.

Swing heil.

Have a pleasant evening.







28 May 2017

Discussing The Recovery™ and Financialization With Alan Greenspan and the Limited Liability Establishment


"Patriotism is supporting your country all the time, and your government when it deserves it."

Mark Twain

Here is an encounter during a Congressional hearing that Bernie Sanders had with Alan Greenspan in 2003.

In the light of history, how do you think that events have shone any light on these two different perspectives?

The pity is that Senator Sanders could have this same conversation with Janet Yellen, and  most of the mainstream media, and the professional elite, and certainly the majority of his political colleagues on both sides of the aisle, today.  And their responses would still be substantially the same.

That is the shameless hypocrisy of the credibility trap.

And what excuses will they offer after the next financial crisis?







27 May 2017

And I've Got One More Silver Dollar...


Well, I've got to run to keep from hiding
And I'm bound to keep on riding
And I've got one more silver dollar
But I'm not gonna let them catch me, no
Not gonna let 'em catch the midnight rider.

And I don't own the clothes I'm wearing
And the road goes on forever
And I've got one more silver dollar
But I'm not gonna let them catch me, no
Not gonna let 'em catch the midnight rider.

And I've gone by the point of caring
Some old bed I'll soon be sharing
And I've got one more silver dollar
But I'm not gonna let 'em catch me, no
Not gonna let them catch the midnight rider.
No I'm not gonna let 'em catch me, no
Not gonna let them catch the midnight rider...

Celui qui est mort.

RIP Gregg Allman





26 May 2017

Stocks and Precious Metals Charts - Drawdown in Hong Kong Physical - Non-Farm Payrolls Next Friday


"Today, the top one-tenth of 1% owns nearly as much wealth as the bottom 90%. The economic game is rigged, and this level of inequality is unsustainable. We need an economy that works for all, not just the powerful.

The problems we face, did not come down from the heavens. They are made, they are made by bad human decisions, and good human decisions can change them."

Bernie Sanders

Stocks went mostly unchanged in a trade that became very quiet after noon in the US.

As a reminder this is a three day holiday weekend with the markets closed on Monday for Memorial Day.

There will be a Non-Farm Payrolls report for May next Friday 2 June.

VIX has once again fallen to single digits. This has been a sign of relative complacency in recent months.

As noted in the report below, the level of physical gold in Hong Kong has fallen to a lower level than usual.  This most likely is nothing of significance, but I like to keep an eye on such things.  Typical the inventory level has been closer to a million ounces.

Please remember God's creatures as best that you can, and those created in His image, the poor, the weak, the sick, and the lonely.

Have a pleasant weekend.











25 May 2017

Stocks and Precious Metals Charts -- A House of Desolation


"God who gave us life gave us liberty.   Can the liberties of a nation be secure when we have removed a conviction that these liberties are the gift of God?  Indeed I tremble for my country when I reflect that God is just, that His justice cannot sleep forever."

Thomas Jefferson Memorial, Northeast Portico


“A true opium of the people is the belief in nothingness after death, the huge solace, the huge comfort of thinking that for our betrayals, our greed, our cowardice, our murders, we are not going to be judged.”

Czesław Miłosz


"I urge you, brothers and sisters, to beware of those who cause arguments and put obstacles in your way with things that are contrary to the teachings you have learned. Keep away from them.  For such people are not serving our Lord, but their own vain appetites and inclinations.   By smooth talk and flattery they deceive the minds of naive people."

Romans 16:17-18

Stocks set new highs, and gold and silver corrected a bit on a quiet Comex option expiration. The charts continue to exhibit interesting patterns and excesses.

The economic news of The Recovery™ meanders along its mediocre path, with a rise in long term unemployment and the sluggish growth in the broader economy driven by an exhausted middle class and staggering working poor.

Several fellows sought to engage me in conversation yesterday, challenging the observation that 23 million people will be denied affordable access to healthcare for themselves and their families by this abomination that has slouched out of our House of Representatives.

Their points, while differently expressed, were that since these unfortunates do not have such access to reliable and affordable healthcare now, it is no great loss for them.   It is as if this is the result of the natural order, and not of a damnable system of apportioning out the wealth of the country, its products, and its benefits in a corrupt and distorted manner that is without equity, compassion or mercy.

And therefore it is implied that the fate of the weak, the elderly, the children and the disabled is deserved, because they are not life fully worthy of life.  If they were then they would be rising up in the world on its own terms through their innovation and diligent power as do the exceptional and the elect of this world and its favored few.

We all seem to be gifted with a rare talent for knowing the right things to do, and yet rationalizing exceptions to those principles for ourselves, not of any real necessity when you get right down to it, but for our convenience.  And we have a remarkable talent for broadly blinding ourselves to the nature and consequences of our own actions.

We are truly masters of deflection and self-deception. We see our elite boldly standing on their vain pedestals of patriotic righteousness and credentialed authority.  And can we not help but think that we have learned nothing, both from history and from the words of the prophets.

If our Lord came back, not as we expect in glory as the Son of Man, but as a humble lamb of innocent perfection, there should be little doubt that we would stand by while those from the established power structure would crucify Him again.

And this certainly is not because He would deserve it, not in the least.  Although there can be no doubt that we would hear some fine sounding reasons for it.

It is because by His very nature He is truth, and is therefore inconvenient to the established order of worldly powers, and the gods of the market that seek to measure the value of all in their twisted scales.  His casting of a light is the greatest offense of all to the lords of the darkness of this world.

If you ask any of our elite what they intend with their actions, none would say that yes, I set out this morning to damn myself eternally, with lies and profits from the abuse of the innocent.  No, they have achieved great wealth and power because they are the most capable, the most virtuous, the hardest-working:  exceptional.

In their own minds they might even see themselves as serving the order of God, or at least the god that they have erected themselves, and chosen to honor and obey.  And yet they do, if not in the rigorous sense, but in all practicality damn themselves in their selfishness and pride, and blind themselves to it.

Most cannot even imagine such a judgement as applying in their own case. We may think that there is no higher power than themselves and, if there is, that it is some immanent and disinterested source of power that is there for us to use, as in every other case, for our own ends.

After all, the elite have been able to use their words and their cunning wit to rise to such positions of power, and maintain on so many other occasions, that surely they will not fail them in their final reckoning.   Even God Himself could not find the ability to best them in their arguments and authority.

But the simple truth of the matter is this—  they will not serve any other but themselves.  Non serviam.

Surely those striving for power and rule over the well-being of others have taken on a higher obligation for justice by.

But before we cast judgement on others, we must look at ourselves, and in our own hands see the lash of vanity and the hammer of greed.  We too are wielding them against our brothers and sisters, the least of these, at the very foot of His cross.  Hypocrites and sinners, are we all.

And yet hope and forgiveness is there, if we will but take it, and cast off our blindness and see.

Forget now and go on, and do not thank or acknowledge His truth in any way, or take any obligation or restraint for ourselves that we do not willingly place there, at our pleasure, convenience, and discretion.

We will decide what is enough for Him. For this is what we do, every day, in our foolish blindness.

May God have mercy and forgive us, especially in that moment when we will finally see ourselves as we really are, stripped of all worldly ornaments and illusions, and then know what we have done, and what we have failed to do, with perfect clarity.

Have a pleasant evening.


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