Stocks and Precious Metals Charts - Light Equity Trading, Brisk December Gold Contract Action Reported

“Whoever commits a fraud is guilty not only of the particular injury to him who he deceives, but of the diminution of that confidence which constitutes not only the ease but the existence of society."

Samuel Johnson


"The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version.”

John Kenneth Galbraith


"Make no mistake about it, just as Lehman Brothers was set up to take the fall for triggering the 2008 collapse, China is being groomed as the new scapegoat for the coming crisis. But China’s economic slump is only a symptom, not the disease.

The reality is that the repeal of Glass-Steagall ushered in the greatest wealth transfer scheme in the history of America, allowing six mega banks in America to control the vast majority of insured deposits, use those taxpayer-backed deposits to gamble for the house, loot the bank from the inside by paying billions of dollars to select employees and customers and then hand the gambling tab to the taxpayer when the casino burns down. This model is a staggering headwind on both U.S. and global growth because it has created the greatest wealth and income inequality since the Great Depression."

Pam and Russ Martens


“Each day we are becoming a creature of splendid glory, or one of unthinkable horror.”

C. S. Lewis

There was the expected brisk action in the December gold contract reported today. I have included the clearing report below. Because of the holiday there were no inventory reports at the market close.

Stocks drifted lower, in anticipation of a protracted lack of forward progress in the US-China trade talks.

Market risks remain elevated and under-anticipated.

There will be a Non-Farm Payrolls report next week.  I have included the economic calendar for next week below.

The banks must be restrained, and balance restored to the economy, and the dark money power limited from its manipulation of policy, politics, and public discourse, before there can be any sustainable recovery.

We had these things, put in place many years ago, and we allowed them to be slowly but surely eroded away.

Have a pleasant weekend.

Thanksgiving 2019

"Rejoice in the Lord always; and again I say, rejoice.   Let your gentleness and consideration be known to all, for the Lord is always near.   Do not be anxious about anything.  But with prayer, and by supplication, and with thanksgiving, let your needs be made known unto God.  And the peace of the Lord, which surpasses all understanding, will guard your hearts and your minds, in Christ Jesus."

Philippians 4:4-7


"Our Lord's love shines forth as much in the simplest of souls as it does in the most highly gifted, as long as there is no refusal of His grace."

Thérèse Martin de Lisieux

May the peace of the Lord, which surpasses all understanding, be with you and yours, always.

DÜRER, St. Jerome In His study

"The blessed John the Evangelist lived in Ephesus until extreme old age [age 94 c 100 AD).   His disciples could barely carry him to church and he could not muster the voice to speak many words.  During individual gatherings he usually said nothing but, 'Little children, love one another.'   The disciples and brothers in attendance, annoyed because they always heard the same words, finally said, 'Teacher, why do you always say this?'  He replied with a line worthy of John: 'Because it is the Lord's commandment, and if it alone is kept, it is sufficient.'"

Jerome, Commentary on Galatians, based on the commentaries of Origen of Alexandria

Stocks and Precious Metals Charts - Weighed, and Found Wanting - Shameless Arrogance

"Congratulations to the Federal Reserve. You've successfully created the most extreme, pre-collapse yield-seeking bubble in U.S. history! With lower return prospects than Aug 1929. While encouraging a debt bubble where half of all 'investment grade' debt is one step above junk."

John P. Hussman


"All the world marveled at this, and gave their allegiance to the Beast. And they worshiped the dragon for giving such power to him. as they also worshiped the Beast. 'Who is as great as the Beast?' they exclaimed.  'And who is able to resist him?'   The Beast was allowed to commit great blasphemies against God.  And he was given the authority to do as he willed, but only for forty-two months."

Revelation 13:3-5


"Daniel answered the king, 'Keep your gifts or give them to someone else, but I will tell you what this means.

Number, number, weight, division.  And this is what it means: number, God has numbered the days of your kingdom and will bring it to an end;  weight, you have been weighed on the scales of justice and are found to be wanting;  division, your kingdom will be divided up and given to others.”

Daniel 5:17, 26-28

Stocks closed at new highs on very high holiday trading volume.

Gold and silver were off a bit in similar light trading.

US markets will be closed tomorrow for a national holiday of Thanksgiving.

They will be open until 1 PM on Friday, in what is likely to be very light volume.

And no one could have possibly seen it coming.

Have a very happy Thanksgiving.

And for the rest of the world, please try and carry on without the guidance of the pampered princes of empire.

The Defenses Being Offered So Far in the Matter of Alleged Abuse of Presidential Power

This is a fairly even handed and thorough review of the facts and defenses offered in the situation before the House.

I thought it might be of interest based on some things that various readers have asked me or commented upon so far.

The case for obstruction of justice is not dealt with here, and is particularly compelling as it so often proves to be. It's not the crime but the coverup and the perjury.

But in all seriousness, the major defense is going to be political. This is going to be the 'so what' defense.  When you don't have the law or the facts, just pound the table.  Just lie boldly, yell at people, attack them personally, and try to scare them into silence and submission.

So what if Trump did all these things. They are not impeachable, and the GOP in the Senate will not act upon any charges in a suitably judicial manner, because they can.

And they may do so as long as it appears that their base is buying it. If public opinion were to swing against him, the GOP establishment would be on their man like a pack of jackals, as I have stated before.  They are unbelievable hypocrites, being politicians.

What's the point? It is useful for you to know what you may be doing, and why you are doing it. Unfortunately in the end it is an assault on justice and the rule of law itself.

And so you can see what others are doing, and are thereby showing who and what they are, and what they are capable of doing and saying to further their own advantages.