Saturday, June 29, 2013
Gold and silver continue to be smashed. Most charts I look at show them to be oversold. However, I won't be buying until they break out of this downtrend.
"In the Colonies, we issue our own paper money. It's called 'Colonial Scrip.' We issue it to pay the government's approved expenses and charities. We make sure it's issued in proper proportion to make the goods pass easily from the producers to the consumers. In other words, we make sure there is always adequate money in circulation for the needs of the economy.
"In this manner, by creating ourselves our own paper money, we control its purchasing power, and we have no interest to pay, to anyone. You see, a legitimate government can both spend and lend money into circulation, while banks can only lend significant amounts of their promissory bank notes, for they can neither give away nor spend but a tiny fraction of the money the people need. Thus, when your bankers here in England place money in circulation, there is always a debt principal to be returned and usury to be paid. The result is that you have always too little credit in circulation to give the workers full employment. You do not have too many workers, you have too little money in circulation, and that which circulates, all bears the endless burden of unpayable debt and usury."
-- Benjamin Franklin
at 2:00 PM
Thursday, June 27, 2013
"Don’t you know, there are some things that can beat smartness and foresight? Awkwardness and stupidity can. The best swordsman in the world doesn’t need to fear the second best swordsman in the world; no, the person for him to be afraid of is some ignorant antagonist who has never had a sword in his hand before; he doesn’t do the thing he ought to."
at 10:49 PM
Wednesday, June 26, 2013
Short term continues to bounce from its oversold condition. Remember, we'd like a positive divergence between this low and the next low to show higher odds.
"Every gun that is made, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed.
This world in arms is not spending money alone.
It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children.
The cost of one modern heavy bomber is this: a modern brick school in more than 30 cities.
It is two electric power plants, each serving a town of 60,000 population.
It is two fine, fully equipped hospitals.
It is some 50 miles of concrete highway.
We pay for a single fighter with a half million bushels of wheat.
We pay for a single destroyer with new homes that could have housed more than 8,000 people.
This, I repeat, is the best way of life to be found on the road the world has been taking.
This is not a way of life at all, in any true sense. Under the cloud of threatening war, it is humanity hanging from a cross of iron."
-- Dwight D. Eisenhower, April 16 1953
at 10:46 PM
Tuesday, June 25, 2013
"Basically, what Economic Hit Men are trained to do is to build up the American empire. To create situations where as many resources as possible flow into this country, to our corporations, and our government, and in fact we've been very successful...We knew Saudi Arabia was the key to dropping our dependency, or to controlling the situation. And we worked out this deal whereby the Royal House of Saud agreed to send most of their petro-dollars back to the United States and invest them in U.S. government securities...The House of Saud would agree to maintain the price of oil within acceptable limits to us, which they've done all of these years, and we would agree to keep the House of Saud in power as long as they did this, which we've done, which is one of the reasons we went to war with Iraq in the first place...So we make this big loan, most of it comes back to the United States, the country is left with the debt plus lots of interest, and they basically become our servants, our slaves. It's an empire. There's no two ways about it. It's a huge empire. It's been extremely successful...This empire, unlike any other in the history of the world, has been built primarily through economic manipulation, through cheating, through fraud, through seducing people..."
-- John Perkins, "Confessions of an Economic Hitman"
at 8:31 PM
Monday, June 24, 2013
A rumor should be floated any time soon of some kind of bailout that will induce a short term rally.
I'm concerned at how the plundering of risk assets hasn't been enough fear to drive demand for treasuries, yet.
at 11:14 PM
Sunday, June 23, 2013
Thursday, June 20, 2013
The medium term indicator appears to have broken down out of its uptrend of higher lows since 2011.
The composite indicator of all time frames is in neutral territory. It also appears to have broken down out of its trendline.
Sorry I was out of town again this week.
at 7:36 PM
Monday, June 17, 2013
Thursday, June 13, 2013
Unfortunately, I don't have exact data for the last three days so that's why there are straight lines for those dates. I am sorry.
at 10:44 PM
Sunday, June 9, 2013
Thursday, June 6, 2013
Wednesday, June 5, 2013
Tuesday, June 4, 2013
Saturday, June 1, 2013
Short term didn't fall below previous low. Remains somewhat oversold.
at 4:30 PM