On the Feast Day of Saint Edith Stein

“Do not accept anything as the truth if it lacks love.  And do not accept anything as love is it lacks the truth.  One without the other is a destructive lie.

When you seek truth you seek God, whether you know it or not.

My God, fill my soul with holy joy, courage and strength to serve You.  Kindle your love in me and then walk with me along the next stretch of road before me. 

I do not see very far ahead, but when I have arrived where the horizon closes down, a new prospect will open before me, and I shall meet it with peace.”

Edith Stein


"Dear brothers and sisters.  Because she was Jewish, Edith Stein was taken with her sister Rosa and many other Jews from the Netherlands to the concentration camp in Auschwitz, where she died with them in the gas chambers.  Today we remember them all with deep respect. 

From now on, as we celebrate the memory of this new saint from year to year, we must also remember the Shoah, that cruel plan to exterminate a people — a plan to which millions of our Jewish brothers and sisters fell victim.  May the Lord let his face shine upon them and grant them peace.

For the love of God and man, once again I raise an anguished cry.   May such criminal deeds never be repeated against any ethnic group, against any race, in any corner of this world.   It is a cry to everyone, to all people of goodwill, to all who believe in the Just and Eternal God, to all who know they are joined to Christ, the Word of God made man.  We must all stand together—  human dignity is at stake.

There is only one human family.  The new saint also insisted on this:  'Our love of neighbour is the measure of our love of God.   For Christians — and not only for them — no one is a ‘stranger’.  The love of Christ knows no borders'".

John Paul II, On the Canonization of Edith Stein, Teresa Benedicta of the Cross

Stocks and Precious Metals Charts - Shenanigans Abounding in Quiet Summer Trading

"Write this message plainly on tablets, so that even a passerby may read it.

For there is still a reckoning coming in its appointed time. It speaks of the end, and does not lie. If it seems to be late in coming, wait for it; it will surely unfold.

Look at the proud and the powerful. They trust in themselves, and so their lives are becoming twisted.  But the righteous will endure, and live by their faithfulness to God."

Habakkuk 2:2-4

Gold and silver both pulled back today to consolidate their recent spectacular break out gains that left them both short term very overbought.

Do I think their rally is over? Not hardly.

Gold and silver have hardly gained much notice or respect in the broader investing community, which is still chasing rainbows.

If you look at the gold clearing report below, you can see that every active financial playing was buying for their house account, at 2051.

Most of the gold and silver commentary on financial TV is shallow and dismissive.

There is more rally to come.

The Dollar bounced back a bit today.

Stocks in the non-techs managed to gain back their earlier losses of the day, thanks to the light trading of a Friday in midsummer.

Big cap techs were a serious divergence, with the NDX ending firmly in the red.

Washington is dead-locked, the political posturing and lies are flying thick and fast. The Trump administration is throwing out useless symbolic poses and gestures, with no leadership or competent governing skills, as usual.

See you next week.

Have a pleasant weekend.

Stocks and Precious Metals Charts - King Silver! - Non-Farm Payrolls Report Tomorrow

Gold and silver were both moving higher today, with the Dollar continuing its slide lower as measured by the DX index.

Gold closed just north of $2070.

Silver had a major move and finished up just shy of $29!

Stocks were a bit lackluster in the early trade, which was also especially light.

However in the afternoon the animal spirits of the pigmen stirred, and stocks were bid up towards new bubble highs.

There will be a Non-Farm Payrolls report tomorrow. Stocks may move on it. Trumpolini wants to see good numbers.

I put up a chart that shows the returns of a few of our familiar asset classes since the beginning of 2019.

And surprise, the winner was King Silver.

Hail to the king, baby.

Have a pleasant evening.

Stocks and Precious Metals Charts - Risk On!

Today was one of those 'risk on' days when the punters on Wall Street decide that there are blue skies ahead.

Gold and silver were off a bit, and the Dollar bounced a little higher off the recent low.

Tropical Storm Isaias is due to rip through here tomorrow, so I was taking the usual precautions for one of these late summer storms coming up the coast.

This one looks to be a proper nor'easter, with 60 mph winds and 4-6" of rain.

Have a pleasant evening.