Stocks and Precious Metals Charts - Slowly We Turn

 

"They will be unloving and unforgiving; they will slander others and have little self-control.   They will be harsh and hate what is good.  They will betray their friends, be reckless, be puffed up with pride, and love their own pleasures more than God.   They may act religious, but they will reject the grace that could make them righteous." 

2 Timothy 3:2-5

 

 “Above all, don't lie to yourself.  The man who lies to himself and listens to his own lie comes to a point that he cannot distinguish the truth within him, or around him, and so loses all respect for himself and for others.” 

Fyodor Dostoyevsky, The Brothers Karamazov

 

“Not everyone who says to me, ‘Lord, Lord,’ will enter the kingdom of heaven, but the one who does the will of my Father in heaven.  Many will say to Me on that day, ‘Lord, Lord, did we not prophesy in Your name, and in Your name cast out demons, and in Your name perform many miracles?’  And then I will say, ‘I never knew you.  Begone, you who serve lawlessness.’

Matthew 7:21-23

 

Another ranging day in the markets. 

This is a sign that the markets are nearing a trend turn, probably linked to a taper in the abundcane of cash and liquid assets being delivered by the Fed to the Banks.

Gold was up a bit, silver was almost unchanged, after another test of lower support.

There will be more inflation data this week, with an eye to the next FOMC meeting.

There will be a quad witching option expiration on Friday.

Do not be deceived, for God is not mocked. Whatever a man sows, so shall he reap. 

Need little, want less, love more. For those who abide in love abide in God, and God in them.

Have a pleasant evening.

Stocks and Precious Metals Charts - Go Down Gambling - Quad Witching Option Expiration Next Week

 

"Recently, Palantir Technologies, the secretive software company that collects and analyses huge amounts of data on behalf of clients which include a broad array of US intelligence and spy agencies, announced in a that it had purchased $50 million in gold bars as part of an investment strategy... 

Probably more than any other commercial technology company in the world, Palantir, due to it’s access to US Government data and other Governments’ data around the world, that could show patterns, shifts, and potential risks in the future political and economic landscape. 

So when Palantir buys a large quantity of physical gold bars and states that it has bought physical gold as a hedge against black swan risk events, then you better sit up and take notice, because this is no ordinary corporate treasury investment and no ordinary company." 

Ronan Manly, Can Corporate Treasurers Afford to Ignore Palantir’s Gambit on Gold?
 

"Down in a crap game, I've been losing at roulette
Cards are bound to break me but I ain't busted yet,
'Cause I've been called a natural lover by that lady over there
Honey, I'm just a natural gambler but I try to do my share
Go down gamblin'".

Blood, Sweat and Tears, Go Down Gambling

Stocks tried again to rally, and then ended reversing in the afternoon, going out near the lows at support. 

Maybe all that selling was due to a couple of the Fed Bank Presidents unloading their very substantial 'legal' person stock trading positions which were recently exposed to the outrage of the investing public.
Gold and silver were also lower, going out near those lows. 

The VIX rose higher.  

There will be a quad witching stock option expiration next week.

We may already be in the Shenanigans Zone, down at Wall and Broad.

Our crooks are more dishonest than your crooks.
Our crooks are bolder than yours.
Our crooks are brazen because we embrace deregulation
Our crooks are less honest than yours.

Have a pleasant weekend. 

 

Stocks and Precious Metals Charts - Take It To the Limit, One More Time - The Downward Spiral of Dumbness

 

“Benign remedies are for the innocent.  Misdeeds, once exposed, have no refuge but in audacity.  And they had accomplices in all those who feared the same fate.” 

Tacitus, Annals

 

"If we are dealing with psychology, then the thermometers one uses to measure it have an effect.  I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.  There's an interesting question here because if the gold price broke [lower] in that context, the thermometer [price of gold] would not be just a measuring tool.  It would basically affect the underlying psychology. 

Now, we don't have the 'legal' right to sell gold but I'm just frankly curious about what people's views are on situations of this nature because something unusual is involved in policy here.  We're not just going through the standard policy where the money supply is expanding, the economy is expanding, and the Fed tightens. This is a wholly different thing." 

Alan Greenspan, Federal Reserve Minutes, May 18, 1993

 

"We looked into the abyss if the gold price rose further.   A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake.   Therefore at any price, at any cost, the central banks had to quell the gold price, manage it.  It was very difficult to get the gold price under control but we have now succeeded.  The US Fed was very active in getting the gold price down.  So was the U.K." 

Sir Edward 'Steady Eddie' George, Governor Bank of England in conversation with Nicholas J. Morrell, of Lonmin Plc, 1999

 

Stocks attempted to rally, but fell into the red in the afternoon, and went out near the lows.

The Dollar dropped to the mid-range of the 92 handle.

Gold and silver rallied back a bit from the recent 'mini-me' smackdown.

The gold bullion readily available in Hong Kong for Comex delivery is getting a bit sparse again.

Time to milk the ETFs for gold bullion again?

Robbing Peter to pay Ping.

Just keep the music playing as long as the punch and profits are flowing.

They'll never learn.   Because their paychecks depend on maintaining a downward spiral of dumbness.

And so gold keeps flowing, from West to East.

Have a pleasant evening

 

 

Stocks and Precious Metals Charts - This Attractive But Deceitful World - Dr Evil Followed Up By Mini-Me

 

"The wealthiest 1 percent of Americans are the nation’s most egregious tax evaders, failing to pay as much as $163 billion in owed taxes per year, according to a new Treasury Department report released on Wednesday.

The analysis comes as the Biden administration is pushing lawmakers to embrace its ambitious proposal to invest in beefing up the Internal Revenue Service to narrow the 'tax gap,' which it estimates amounts to $7 trillion in unpaid taxes over a decade. 

The White House has proposed investing $80 billion in the tax collection agency over the next 10 years to hire more enforcement staff, overhaul its technology and usher in new information-reporting requirements that would give the government greater insight into tax evasion schemes.  The proposals have been met with deep skepticism from Republicans and business lobbyists." 

DNYUZ, The top 1 percent are evading $163 billion a year in taxes

 

"Ayn Rand's 'philosophy' is nearly perfect in its immorality, which makes the size of her audience all the more ominous and symptomatic as we enter a curious new phase in our society.  Moral values are in flux.  The muddy depths are being stirred by new monsters and witches from the deep.  Trolls walk the American night.  Caesars are stirring in the Forum.

To justify and extol human greed and egotism is to my mind not only immoral, but evil. "

Gore Vidal,  Comment, Esquire, July 1961

 

"But there is a sort of 'Ok guys, you're mad, but how are you going to stop me' mentality at the top." 

Robert Johnson, Audacious Oligarchy

 

Gold and silver were hit again today down to trend resistance, but managed to bounce back a bit into the close.

Not a Dr Evil class market swindle as we saw a week or so ago, but maybe a 'mini-me.'

Stocks were lower, even the storied big cap tech stocks.

The Dollar moved a little higher.

Again this looks like a very technical trade.

But we are entering what has proven historically to be a volatile season for stock bubbles.

Let's see what the rest of the week brings.

Have a pleasant evening.