The day rapidly draweth nigh in which you will be officially declared "crazy" if you disagree with your U.S. government. Likewise the old Soviet Union declared anyone must be crazy who denied that the socialist paradise really was a paradise, so they shoved them into insane asylums. See "A Question of Madness" by Zhores Medvedev, who suffered that treatment. Prepared for all dissidents are several myth models into which the government can pour your case. For instance, there is the myth of the Rightwingextremist. If you share any of the likes or dislikes of the Rightwingextremist, like abhorring abortion, you must be one, too, & therefore should be at the very least institutionalized until your brain can be fixed. Same goes for the Leftwingextremist myth, or the Religiousfundamentalist, or the Antigovernmentype or Illegaltaxprotestor myth. All they need do is ring the myth bell, & the salivating public immeditely identifies YOU as the myth. And of course, you must be crazy, or sick, so you must be "fixed." Great example of this came through Catherine Austen Fitts' Solari.com blog yesterday, see http://bit.ly/16HLcML "New York Times Warning: Trust Authorities on Boston Bombing, or You're Nuts" by Russ Baker. If you don't believe the moth-eaten official explanations with all their contradictions, you must be nuts. You are sick, & must be healed by Official Shrinks. By the way, the Nazis used this same process to dehumanize the Jews, as did the Soviets to dehumanize the bourgeoisie or any other "enemy of the people." It is morally acceptable to do anything to these enemies, even kill them, because, after all, they are not really human like us. Are y'all beginning to catch on that we are not dealing with politics of "right" or "left," but the deepest questions of humanity and and human freedom? TODAY'S MARKETS Daily I search the news for pleasant or encouraging reports to share with y'all, but daily I only come away with acute hogwash poisoning. I notice that IMF apparatchik Christine Lagarde is warning of "somber trends" developing the world economy. I reckon Christine wants the world's central banks to print up more money, on the theory that although it hasn't worked already, it might work if they do a lot more of it. Akkk! Akkk! I can feel the hogwash poisoning climbing up my gullet! Stocks were not pleased with anything today. Dow backed off 76.87 (0.5%) to 15,177.16. S&P500, resplendent with GM, which, coming out of bankruptcy or tankruptcy or the government's financial hospital has been re-admitted in the place of ketchup cook Heinz, cheapened by 9.04 or 0.55%. Grief for stocks will begin when they break their 50 day moving averages (14,904 & 1,603), which roughly coincide with their trading channel bottom lines. Just to give y'all a notion how far away that lies, that's about 273 points for the Dow and about 28 points for the S&P500. Both fell almost that many points on 31 May. And downside points come easier than upside points. Dow in Gold and Dow in Silver both rose a leetle today, but continue to roll over toward the center of the earth. Dow in gold rose 0.54% to 10.863 oz (G$224.56 gold dollars), not quite breaching the 20 DMA in its close but still in a steady downtrend. Dow in silver closed 677.55, 6.01 oz or 0.9% higher than yesterday. It also rolleth over. 20 DMA at 667.38. That US dollar index really smashed its chart yesterday. Closed through the uptrend line AND the 50 DMA, and looks sick as a yellow cat eating bad meat. Oh, today it scrabbled around and climbed 7.2 basis points, which you could almost see with a 10 power microscope. Ended at 82.751. A close below 82.50 will accelerate its weight-loss program. I ought to be ashamed of myself. Making fun of the scrofulous, no-good, unbacked and spineless fiat currencies. Smacks too much of shooting fish in a rain barrel -- with a 12 gauge shotgun. 'Tain't no hard target to hit. Anyhow, yesterday's touch on the 50 DMA scairt that yen plumb to death. Today it shrank 0.55% to 99.98 cents/Y100. Euro edged up a microscopic 0.7% to $1.3085. Important to note there is that close lies above and outside the downtrend line, so promises more upside. By the way, don't forget that the US bond market has broken down, forecasting a lower dollar and higher interest rates. I'm so sorry, Ben. I was having so much fun I almost forgot about silver & gold! In a trading day as strange as 'tis bogus, silver lost 31.5 cents to end at 2240c while gold scraped off $14.60 to close comex at $1,397.10. In the late aftermarket gold has traded up to $1,400.15 and silver to 2258c. I say "bogus" because this is very odd trading. Usually markets either make it or break it. If they fail, they follow through downward; if they make a new high, they climb. What do you say about gold? Thursday it had a great up day, bursting through $1,395 resistanct to end around $1,415 -- then Friday giving nearly all back? And Monday bouncing right back, but Tuesday having its pockets picket again? Here's a guess about these last four days. That $1,491-$1,495 level was resistance, but gold shot through it. When it cam back Friday, it fell not through, but stopped at that resistance-now-become-support, $1,392.50. Yesterday it shot back to the top of the range, $1,415, then today fell back, but ratcheted higher with a $1,393.10 close. Clearly, many happy souls are delighted to buy gold at $1,392, while many unhappy souls are delighted to sell $1,415. A tense disagreement exists, & somebody's gonna lose & get a black eye. Battleground leans back & forth across the 20 DMA ($1,405.55). If gold can cross that, it shold shoot up to the 50 DMA ($1,461). However, it the Unhappy Ones can drive gold below $1,390, it might break. No point in pretending to clarity where none is. Momentum indicators are pointing up, gold resiliently keeps popping back, but gold must first prove itself with a jump over $1,425. I am buying modestly but gladly, but can't quite bring myself yet to make a big commitment. I feel the same way a pig, a chicken, and a cow feel about breakfast. The chicken & the cow are involved, but the pig is committed. In a burst of good cheer on 4 June 1674 the Massachusetts legislature prohibited horse racing. Spitting on the sidewalk was already illegal. On 4 June 1792 Captain George Vancouver claimed Puget Sound for Great Britain. Can you imagine how he felt when his eyes first fell on that unspeakable beauty? Of course, it was raining at the time. It rains all the time on Puget Sound, well, except for three days a year and in the rain shadow around Port Angeles. However, it is ALMOST worth it to wait through all that rain just to see one sunny spring day there.
Argentum et aurum comparanda sunt —
Silver and gold must be bought.
— Franklin Sanders, The Moneychanger
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