Stocks and Precious Metals Charts - Bell, Book, and Bubble - The Vaccinated, the Cured, and the Dead

 

"What we see at present is a battle between the central banks and the collapse of the financial system fought on two fronts.  On one front, the central banks preside over the creation of additional liquidity for the financial system in order to hold back the tide of debt defaults that would otherwise occur.  On the other, they incite investment banks and other willing parties to bet against a rise in the prices of gold, oil, base metals, soft commodities, or anything else that might be deemed an indicator of inherent value. 

Their objective is to deprive the independent observer of any reliable benchmark against which to measure the eroding value, not only of the U.S. dollar, but of all fiat currencies.  Equally, their actions seek to deny the investor the opportunity to hedge against the fragility of the financial system by switching into a freely traded market for non-financial assets." 

Peter Warburton, The Debasement of World Currency, April 9, 2001  [with gold at $259 per oz.]

"And then, Wall Street blew up the global economy.  Empowered by bank deregulation and regulatory capture, Wall Street enlisted those tough-minded men of the media again to sell the world on the idea that financial innovations were making the global economy more stable by the minute.  Central banks puffed an asset bubble like the world had never seen before, even if every journalist worth his byline was obliged to deny its existence until it was too late...

If economists— and journalists, and bankers, and bond analysts, and accountants— don’t pay some price for egregious and repeated misrepresentations of reality, then markets aren’t efficient after all." 

Thomas Frank, Too Smart to Fail, March 2012

 

"The business model of Wall Street is fraud.   Wall Street won’t change until we make it clear that no bank is too big to fail and no CEO is too big to jail.   Billionaires and Wall Street should not be buying elections.  The reason that Congress isn’t doing what the overwhelming majority of Americans wants has everything to do with the power of the monied interests.  Let us bring our people together to take on and defeat a ruling class whose greed is destroying our nation.” 

Bernie Sanders, September 22, 2016

 

"After a sustained advance in an asset class's price, the prior four factors lead to new-era thinking that cycles have been eradicated/eliminated and that a long boom in value lies ahead. 

Bad valuation methodologies drive out good valuation methodologies.  

Rapid growth of a new financial product that is not understood.  

When everyone thinks central bankers, money managers, corporate managers, politicians or any other group are the smartest guys in the room, you are in a bubble."

Doug Kass, Ten Laws of Stock Market Bubbles, November 11, 2013

 

“The worst crimes were dared by a few, willed by more, and tolerated by all.” 

Tacitus 

 

Today is the 58th anniversary of the public execution of John F. Kennedy in Dallas Texas.

Whip-saw!

Biden took the path of least resistance, and nominated Jay Powell again as Fed Chairman.

He threw his party a bone by nominating Lael Brainard as Vice-chair.

Stocks took off and almost achieved escape velocity, based on some fantasy that Powell is pledging to be more hawkish.

But alas, as the initial front running euphoria waned, stocks crashed back down to earth again and left a crater as well.

The Dollar jumped to the middle of the 96 handle as well, based on the same assumption of rate increases to come.

Gold and silver were just brutally hammered lower.   

How fitting since tomorrow is the most significant gold and silver futures contract option expiration on the Comex. 

Never waste an opportunity.

Today the German health minister Jens Spahn said that 'probably by the end of this winter pretty much everyone in Germany — as has sometimes been cynically put — will be vaccinated, cured or dead.'

The US today has issued an advisory against travel to Germany.  

Déjà vu all over again.

Who could have seen it coming?

 "O Jerusalem, Jerusalem, you who murder your prophets, and persecute those whom God has sent as messengers to you.  As you have willed, your house is now yours— but is made desolate."

And the band played on.

Have a pleasant evening.

 

 

 

 

Stocks and Precious Metals Charts - The Leaven of the Pharisees - Comex Option Expiry Nov 23

 

"As time goes on they get into a fair way of business or other mode of making money; then they marry and settle; and their interest coinciding with their duty, they seem to be, and think themselves, respectable and religious men; they grow attached to things as they are; they begin to have a zeal against vice and error; and they follow after peace with all men.

Such conduct indeed, as far as it goes, is right and praiseworthy.  Only I say it has not necessarily anything to do with religion at all; there is nothing in it which is any proof of the presence of religious principle in those who adopt it; there is nothing they would not do still, though they had nothing to gain from it except what they gain from it now: they do gain something now, they do gratify their present wishes, they are quiet and orderly because it is their interest and taste to do so; but they venture nothing, they risk, they sacrifice, they abandon nothing, on the faith of Christ's word." 

John Henry Newman

 

"Beware the leaven of the Pharisees, which is a pious, hollow hypocrisy." 

Luke 12:1

 

"The problem Newman addresses here is with those long time believers who have grown in the faith, and may exhibit many of its gifts, but stop there without bearing the kind of fruit of which they are capable.  And why do they do this?  Simply because they never grow to fully love Him and His, more than they love their own fears, desires, and selves. 

They always hold some better portion of themselves back and in reserve.  They love God as they think that they must only in order to avoid punishment and to be comfortable, while being blinded to their own sinful shortcomings, never fully growing into the love which is the substance and the salvation of their true selves. 

And in the worst cases, they become self-righteous, being proud in their gifts and their selection as they think it in their own minds.  They may even harbor private hatreds, sins against the Spirit, judging others and seeing admonitions to take up the cross of His obedience with love as intended for all those others, but not for themselves.  They are imbued with the leaven of the Pharisees, which is hypocrisy and spiritual pride. And it is the road to a dwindling of the spiritual life, and a gradual erosion of faith as a vital element of our every action." 

Jesse, 5 April 2017 

 

Stocks were mixed again today, with a narrow group of tech names powering the NDX to new highs, while the broader market and mundane, non-tech muggle world was lackluster at best.

The Dollar powered higher, and took back the 96 handle.

Gold and silver were lower.

The VIX rose a little but is below its key moving averages.

There will be an important option expiration for the precious metals on the Comex next week on  Tuesday 23^rd.

Need little, want less, love more.

For those who abide in love abide in God, and God in them.

Have a pleasant weekend.

 

 

 

 

Stocks and Precious Metals Charts - Why Do You Still Waver and Doubt - Option Expiration Tomorrow

 

"And when He had fed the multitudes and sent away, He went up on the mountain by Himself to pray.  Now when evening came, He was alone there.  But the boat was now in the middle of the sea, battered by the waves, for the wind was against them. 

Now in the fourth watch of the night Jesus went to them, walking on the sea.  And when the disciples saw Him walking on the sea, they were troubled, saying, 'It is a ghost!'  And they cried out for fear.   But immediately Jesus spoke to them, saying, 'Take heart and have courage!  It is I; do not be afraid.'

And Peter answered Him and said, 'Lord, if it is truly You, command me to come to You on the water.'  So He said, 'Come.'  And when Peter got out of the boat, he walked on the water to go to Jesus.  But when he saw that the wind was so powerful he was afraid; and beginning to sink he cried out, saying, 'Lord, save me!'

And immediately Jesus stretched out His hand and took hold of him, saying, 'O you of little faith, why do you doubt?'"

Matthew 14:23-31

 

"To have even a portion of illuminative reason and true philosophy is the highest state to which nature can aspire, in the way of intellect; it puts the mind above the influences of chance and necessity, above anxiety, suspense, unsettlement, and superstition, which is the lot of the many.  

Men, whose minds are possessed with some one object, take exaggerated views of its importance, are feverish in the pursuit of it, make it the measure of things which are utterly foreign to it, and are startled and despond if it happens to fail them.  They are ever in alarm or in transport.  

Those on the other hand who have no object or principle whatever to hold by, lose their way, every step they take.  They are thrown out, and do not know what to think or say, at every fresh juncture; they have no view of persons, or occurrences, or facts, which come suddenly upon them, and they hang upon the opinion of others, for want of internal resources."

John Henry Newman

 

The longest partial lunar eclipse in nearly 600 years will appear in the night sky late Thursday evening and early Friday morning.  According to NASA, the eclipse will last three hours and 28 minutes, making it the longest partial eclipse in 580 years. 

Too bad we have lines of storms making their way to us for tonight.

Stocks advanced with a narrow leadership, led by some of the usual suspects.

 The Dollar was lower.   The VIX was a bit higher.

Gold and silver was lower.  The miners were hit.

Tomorrow must be a stock option expiration.

Little children, love one another.

Have a pleasant evening.