17 March 2018

Pro America Rally Tonight - In the Garden of Beasts

“You demagogues are like the fishers for eels; in still waters they catch nothing, but if they thoroughly stir up the slime, their fishing is good; in the same way it's only in troubled times that you line your pockets.”

Aristophanes, The Knights

"They claim to be super-patriots, but they would destroy every liberty guaranteed by the Constitution. They demand free enterprise, but are the spokesmen for monopoly and vested interest. Their final objective, toward which all their deceit is directed, is to capture political power, so that using the power of the State and the power of the market simultaneously they may keep the common man in eternal subjection.

American fascism will not be really dangerous until there is a purposeful coalition among the cartelists [Big Money], the deliberate poisoners of public information, and those who stand for the K.K.K. type of demagoguery."

Henry A. Wallace, former Vice President of the US

"It [Citizens United] violates the essence of what made America a great country in its political system. Now it’s just an oligarchy, with unlimited political bribery being the essence of getting the nominations for president or to elect the president."

Jimmy Carter, former President of the US

There is no good thing that cannot be turned to evil purposes by an unbalanced passion that crushes all distinctions and reason and commitments to virtue.  Nothing.

Evil makes virtue its servant by elevating one portion of a thing as above all others, including its own inner logic and broader principles.  It is when love of one thing turns into an instrument of hatred.

It takes patriotism and turns it into a paranoid fear of the deplorable other.  It takes one part of an otherwise benevolent ideology and turns it into a blinding affliction. 

It  provides a means for the individual to excuse themselves and provide a rationale for increasingly terrible actions.  It can infest the former victims of oppressors, and take what they have learned and turn it towards the very things that they themselves have hated and resisted.

It is above all a hypocrisy that lures the naive by filling their emptiness with something that they think serves them, benefits them, gives them meaning and purpose without having to think.  It crushes all distinctions and reason.

It finds its moment when harshness is enshrined as exceptional, as unfortunate but necessary, rising above even the self-evident truths of equality and the public good, above the normal restraints of both good and evil.

Its name is expediency and exceptionalism.  Its tools are fear and deception.  Its methods are violence and harshness.   Its fruits are blood and destruction. 

And above all, it is the very opposite of love.   It has no substance of its own; it is a pure opposition to that which has life and existence.   Without hate and anger it has nothing to say. 

You will find no love in it.

16 March 2018

Stocks and Precious Metals Charts - And the Love of Most Will Grow Cold

"We labor and labor and labor for stuff that never satisfies us.  The market ideology is now the new form of imperial power and many of us, without any critical reflection, have signed onto that, and organized our lives in that way so we do not have any time, energy or capacity for the things that are rightly important to us, our human-ness."

Walter Brueggemann, Truth To Power

"And then many will fall by the wayside, and will hate and betray one another. False prophets will arise, and lead the people astray. And because of the increase in wickedness, the love of most will grow cold.    But those who stand firm in faithfulness to the end will be saved."

Matthew 24:10-14

There seems to be a crescendo of corruption and a storm of deceitfulness rising all around us.  How we react to these trials of the day will determine many things, not the least of which is the choice of whom we will serve, whether we realize it or not.

Be wary of the stories being woven that are designed to lead to your fearful acceptance of the unspeakable towards its intended victims.   And be especially wary of interpretations of the faith that are centered on worldly riches for the believer, as an end of faithfulness in itself.  Our Lord did not say, 'Pick up your big fat wallets and follow me to the mall.'

Stocks were attempting to rally today on supposedly good news about consumer sentiment and industrial production. The pundits on bubblevision are celebratory.   And the cash stock indices ended about unchanged.  However the futures sold off into the close, once the technical games in the market had been played for the day.

Gold and silver were off a bit again, most likely because of the stock option expiration and some additional Dollar strength.  After all, the latest addition to the three ringed circus in Washington, Larry Kudlow, said to sell gold and buy 'King Dollar.'   Let's see if those who are not clients and courtiers to the prevailing monetary powers will agree.

Next week we will have an FOMC meeting. There is a 99.95% chance that they will raise rates 25 bp.  And so the focus might be on wording moreso than actions.

Please remember to care for God's creatures, the least of these, during the hard winter months. And pray for your brothers and sisters,  all of whom are carrying heavy burdens and crosses of their own.

Have a pleasant weekend.

15 March 2018

Stocks and Precious Metals Charts - Waiting For Godot

I had an appointment this afternoon that went on far longer than anticipated.

So for tonight it is just charts.

Have a pleasant evening.

14 March 2018

Stocks and Precious Metals Charts - What Can I Do?

"Which of these three was a neighbor to him?  Go and do likewise."
"Jesus gave us a new norm of greatness.  If you want to be important—wonderful.  If you want to be recognized—wonderful.  If you want to be great—wonderful. 

But recognize that he who is greatest among you shall be your servant.  That is a new definition of greatness...  Everybody can be great,  Because everybody can serve.  You only need a heart full of grace, and a soul generated by love.  And you can be that servant."

Martin Luther King

"Non serviam.  (I will not serve)."


Stocks were wobbly most of the day. An effort to take the big cap tech stocks fizzled, with the Dow and the SP 500 lagging most of the day.

Gold and silver were listless. The Dollar finished unchanged.

As a reminder there will be a stock option expiration on Friday.

We will see Jay Powell's first FOMC meeting as the Chairman next week.  A 25 bp rate hike is widely expected.

Have a pleasant evening.