Stocks and Precious Metals Charts - As Old As Babylon, and Evil As Sin - Another Wash and Rinse

 

"Few today remember or are even aware that leading members of America’s elite, Corporate America, were busily engaged in planning to overthrow the United States government in 1933."

David Turner, Corporate America's Failed Coup d'Etat, Jerusalem Post, June 17, 2017


"In the last few weeks of the committee's official life it received evidence showing that certain persons had made an attempt to establish a fascist organization in this country.  No evidence was presented and this committee had none to show a connection between this effort and any fascist activity of any European country.  There is no question that these attempts were discussed, were planned, and might have been placed in execution when and if the financial backers deemed it expedient.

MacGuire denied these allegations under oath, but your committee was able to verify all the pertinent statements made by General Butler, with the exception of the direct statement suggesting the creation of the organization.  This, however, was corroborated in the correspondence of MacGuire with his principal, Robert Sterling Clark, of New York City, while MacGuire was abroad studying the various forms of veterans organizations of Fascist character."

House of Representatives Report, 73d Congress, February 15, 1935.


"Finally, from one of my oldest friends and colleagues in Wash- ington, to whom I was indebted for past favors, I got confirma- tion of what I had learned in Newport and New York.

I use the word conspiracy; I really am talking of a plot—a serious, long-discussed plan to—shall I say—capture the President. The idea was not to kill him; none of these people was as crazy as John Wilkes Booth. Nor was it to kidnap him for negotiation, as had happened in the case of Chiang Kai-shek. Rather, proceeding in the pattern of certain South American revolutions engineered by the palace guard, the idea was to impose a firm restraint, for the good of the country.

So what happened?  Well, as you know, the President never was captured by the enemy.  Neither was any conspiracy exposed, with public scandals and punishments.

Of the industrialists and the social leaders who conspired or went along, some have died, some have lost power and influence. Others live in Monaco. We can afford to forget them all. But at the time the whole affair had a tremendous effect on me; I lived at high tension for months. I remembered once asking Goebbels, ‘And how would you destroy the United States?' And his reply: 'From within.'” 

Cornelius Vanderbilt Jr., Man of the World, 1959


"This perennial classic of political literature remains the only book to document the trading of the American financial establishment with Hitler's Germany in World War II, from Pearl Harbor to V-E Day." 

Advert for Charles Higham, Trading with the Enemy: The Nazi-American Money Plot March 27, 2007


"A fascist is one whose lust for money or power is combined with such an intensity of intolerance toward those of other races, parties, classes, religions, cultures, regions or nations as to make him ruthless in his use of deceit or violence to attain his ends. The symptoms of fascist thinking can be identified by their appeal to prejudice and by the desire to play upon the fears and vanities of different groups in order to gain power.

The American fascists are most easily recognized by their deliberate perversion of truth and fact. Their newspapers and propaganda carefully cultivate every fissure of disunity, every crack in the common front against fascism. They use every opportunity to impugn democracy. They claim to be superpatriots, but they would destroy every liberty guaranteed by the Constitution. They demand free enterprise, but are the spokesmen for monopoly and vested interest."

Henry Wallace, The Danger of Fascism, 1944

"There were a number of Wall Street scions who most infamously associated themselves with Hitler's financiers, and were more than willing to ride the National Socialist tide in Europe for their own benefit come what may, to the extent that they did not stop their activities in supporting the Reich until called out by the government through the Trading with the Enemy Act in 1944.

Why bring that up now?  Because that same sort of short term, greedy, amoral thinking is taking the US down a similar path with nations who, while the comparison with Hitler is inappropriate, are certainly no kindred spirits or friends of liberty.  The perpetrators will claim ignorance, or victimization, when in fact they have been roundly selling out their country through the blind pursuit of crony capitalism, to the detriment of the people and their country."

Jesse, Currency Wars: Selling The Rope, 7 July 2010


"Those who are at present so eager to be reconciled with the world at any price must take care not to be reconciled with it under this particular aspect: as the nest of The Unspeakable.  This is what too few are willing to see." 

Thomas Merton

 

Crazy talk.   Could not happen here.  Move along. Nothing to see.

Another day of the endless wash and rinse.

The underpinnings of the equity markets are porous, with the consistency of styrofoam.

"The most important problem in the world today is your soul, for that is what the struggle is about."

Fulton J. Sheen

Have a pleasant evening.

Stocks and Precious Metals Charts - Wash Cycle - Bear Market Rally or Bull Trap

 

"These violent delights have violent ends.
And in their triumph die, like fire and powder."

William Shakespeare, Romeo and Juliet


“The disposition to admire, and almost to worship, the rich and the powerful, and to despise, or, at least to neglect, persons of poor and mean condition is the great and most universal cause of the corruption of our moral sentiments.”

Adam Smith


"The heart of the problem is that because of the credibility trap, we have never had a proper public discussion on what went wrong with the policies of the US.  The apathy of the people enables this. There are plenty of staged discussions in the media, where two paid talking heads and a moderator who carefully stages the parameters and definition of the 'discussion' shout slogans past one another that play to the emotions of their deeply polarized and propagandized constituencies.

Since we have not yet been able to speak frankly and openly about the massive fraud and abundant soft and overt corruption of the political and professional class, there can be no meaningful reform. Until one admits they have a problem and are able to face it, they cannot begin to address it.

So like any other type of hopeless addict, the US and much of its client states in the West will most likely have to finally hit rock bottom before they can begin to face their addiction to deceit and corruption, money and power.  This will be difficult because so many of those who control the platforms for the conversation about corruption are also those hands are dirty with it, either by participation or acquiescence.  It is the same phenomenon that compels a country to remain in protracted, winless wars long beyond any rational expectation of 'victory.'

Jesse, Moving Beyond Corporatism and Corruption, 10 April 2015

 

Bear market rally or bull trap?

And for the eternal optimists and market strategists a bottom followed by a long recovery rally.   LOL

I'd guess a bull trap because the pundits were out talking about time to put your cash to work again.

Have a pleasant evening.

CrashTrak Update With Preliminary Targets

 

Needless to say this is highly speculative and dependent on the formation remaining active.

As I have previously noted this feels more like a long, grinding bear market than a 'crash.'

Ultimate bottoms may be much lower depending on how the Fed and especially the government react.

The tone was set in 1987 for massive intervention to rescue the financial system, if not the public.  

The policy has continued and strengthened in the last three bubble and busts.

Or it may not continue on like this at all.  

But for now it is 'in the pipe, 5 by 5.'