Tuesday, September 17, 2013

17 Sept 2013

 Long term:  Overbought.
 Medium term:  Nearing overbought levels (70% and higher).  Lagging previous peaks.
Short term: Overbought.  Rallied some today.

"The evils of this deluge of paper money are not to be removed until our citizens are generally and radically instructed in their cause and consequences, and silence by their authority the interested clamors and sophistry of speculating, shaving, and banking institutions. Till then, we must be content to return quoad hoc to the savage state, to recur to barter in the exchange of our property for want of a stable common measure of value, that now in use being less fixed than the beads and wampum of the Indian, and to deliver up our citizens, their property and their labor, passive victims to the swindling tricks of bankers and mountebankers."
Thomas Jefferson to John Adams, 1819. ME 15:185
Thomas Jefferson on Money & Banking 

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