Stocks and Precious Metals Charts - The Great Desolation and Falling Away

 

"What will you do on the day of reckoning, and in the time of desolation which follows?  To whom will you flee for relief?  Where will you safeguard your riches?" 

 Isaiah 10:3

 

"We have learned nothing, and are emboldened by our willful ignorance.   We make beasts of ourselves, to avoid the pain of our lack of humanity.   We make a private cult out of our own childlike selfishness, sinning shamelessly against the word and the spirit.   We lay down with swine, and call it greatness."

Jesse, 8 October 2021 

"But if not, I will not bow, and God grant that we will never bow, before the gods of evil." 

 Martin Luther King, But If Not, Ebenezer Baptist Church, 5 November 1967 

 

"For it is impossible to bring to repentance those who have once been enlightened, and have tasted the heavenly gift, and have shared in the Holy Spirit,  and have tasted the goodness of the word of God and the powers of the age to come,  and then have fallen away, since on their own they are crucifying again the Son of God and are holding him up to contempt."

Hebrews 6:4-6

 

"Satan, who is the lord of this world, has blinded the minds of the fallen. They are unable to see the glorious light of the good news."

2 Corinthians 4:4

 

 "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."

Matthew 23:37

 

US Markets will be closed on Monday in observance of Martin Luther King.

Have a pleasant weekend.

 

Stocks and Precious Metals Charts - Jay Powell's International Silver String Submarine Band

 

"Easy money, sudden fortunes, increasingly powerful political machines and blatant corruption transformed much of the nation; and the Senate, as befits a democratic legislative body, accurately represented the nation.  Corporation lawyers and political bosses, not constitutional orators, were the spokesmen for this roaring era."

John F. Kennedy, Profiles in Courage

 

"The abuse of buying and selling votes crept in and money began to play an important part in determining elections.  Later on, this process of corruption spread to the law courts.  And then to the army, and finally the Republic was subjected to the rule of emperors."

Plutarch, The Roman Republic

 

"The desire to gain wealth and the fear to lose it are our chief breeders of cowardice and propagators of corruption." 

William James, Varieties of Religious Experience

 

“Government has coddled, accepted, and ignored white collar crime for too long.  It is time the nation woke up and realized that it's not the armed robbers or drug dealers who cause the most economic harm, it's the white collar criminals living in the most expensive homes who have the most impressive resumes who harm us the most.  They steal our pensions, bankrupt our companies, and destroy thousands of jobs, ruining countless lives.” 

Harry Markopolos

 

Stocks slumped again today after yesterday's save.

Gold and silver declined, but managed to take back some of the losses. 

The Dollar chopped sideways.

The VIX climbed higher.

Weakness permeates the markets' underpinnings.

Slowly, gradually, and then all at once.

Have a pleasant evening.

 

 

 

Stocks and Precious Metals Charts - Credibility Trap de Luxe - Are You Not Entertained?

 

"The central bank gold lending market, centered in London, is probably the most secretive financial market in the world, with very little known about its transactions and market structure.  The gold lending market’s opacity is further supported by regulators who protect the secrecy of the central banks, and mainstream financial news agencies whose editorial policies seem to forbid any market investigations, in-depth or otherwise.

It is in the gold lending market that the central banks of the world lend out their gold holdings to commercial bullion banks, where the physical gold is sold and shipped out, and where the central banks then claim to hold interest-earning ‘gold deposits’ with the bullion banks.  These gold-deposits (which are merely a claim on a bullion bank) then mostly roll over short-term, passed around indefinitely between the clubby LBMA cartel of bullion banks, in a totally opaque behind the scenes network. 

The physical gold bars lent out are long gone to Switzerland and the Far East, and the central banks then deceptively claim that they still hold the gold on their balance sheets when in fact all they have is a liability to the bullion banks.   In the middle of this market sits the Bank of England, offering gold custody and storage to other central banks (in the vaults under the Bank of England headquarters in London) and offering gold accounts to the bullion banks concerned." 

Ronan Manly, French central bank and JP Morgan team up to boost Gold Lending 

 

“If you shut up truth and bury it under the ground, it will but grow, and gather to itself such explosive power that the day it bursts through it will blow up everything in its way.” 

Émile Zola

 

"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 George, Governor Bank of England in conversation with Nicholas J. Morrell, of Lonmin Plc, 1999

 

"What is offensive is that they lie, and worship their own lying." 

Fyodor Dostoevsky, Crime and Punishment

 

The Dollar took a dive today, and lost its grip on the 94 handle.

Gold and silver rallied.

Stocks managed to edge higher in another volatile day.

The VIX dropped.

The mispricing of risk is profound.

Few people love the truth and are willing to serve it.  It has no place in their hearts.

They serve false gods, con men, and themselves, and live in fantasies of superior knowledge and power.

They may become a narcissist, or the banal follower of narcissists.

In any case they have no love in them, no way to love or be loved.

Pride and passionate distractions fill their silence and fragile emptiness.

And it seems that there is little we can do for them except to pray. 

Have a pleasant evening.