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Dancing on a Volcano - Metals Option Expiration

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Published : June 24th, 2022
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Category : GoldWire
"I am willing to believe that history is for the most part inaccurate and biased, but what is peculiar to our own age is the abandonment of the idea that history could be truthfully written.  In the past people deliberately lied, or they unconsciously coloured what they wrote, or they struggled after the truth, well knowing that they must make many mistakes; but in each case they believed that ‘the facts’ existed and were more or less discoverable.

In Spain, for the first time, I saw newspaper reports which did not bear any relation to the facts, not even the relationship which is implied in an ordinary lie.  I saw great battles reported where there had been no fighting, and complete silence where hundreds of men had been killed.  I saw troops who had fought bravely denounced as cowards and traitors, and others who had never seen a shot fired hailed as the heroes of imaginary victories, and I saw newspapers in London retailing these lies and eager intellectuals building emotional superstructures over events that had never happened.  I saw, in fact, history being written not in terms of what happened but of what ought to have happened according to various ‘party lines’."

George Orwell, Looking Back On the Spanish War and Other Essays

"The whole town and all its inhabitants are quite drowned in carnival din, masks and confetti. And on top of that the news of the Reichstag fire. 

Dancing on a volcano."

Alban Berg, Letter from Berlin, September 1, 1933

"The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated communist, but people for whom the distinction between fact and fiction, true and false, no longer exists.”

Hannah Arendt, The Origins of Totalitarianism

"Never relinquish your ability to love, to love others and to love the truth, whether it be from fatigue, or confusion, careerism or expediency.  For in that simple act of the will to love we maintain a critical linkage to our humanity.  

The real capitulation of a people to the will to power occurs, not in the mob as one might think, for by then it is an almost forgone conclusion.  The guardians of the public conscience are in the professional class, for they are the enablers of a moral voice and caution.  They possess a platform and provide an example, and therefore bear a heavier than normal responsibility for speaking for the truth."

Jesse, The Great Temptation and the Rise of the Will to Power, January 1, 2017

 Stocks managed to rally despite some weaker economic news early on.

The bulloney boys were cheery today, managing to turn that frown upside down, and the market strategists were out hawking their (be)wares.

The recession was a topic of interest, with the general line being that stocks have already discounted it and now is nearly the time to start putting that cash to work.

I would say that a recession, as concerning as it may be,  is among the least of our more serious concerns. 

Keep an eye on Europe, and also on the Asian Pacific rim.

Contagion is a very serious concern given the shoddy and poorly regulated nature of our financial system.

But not to worry, after the close the Fed says that all the banks have passed their stress tests.  LOL

Time to head for higher ground.

The Dollar was higher, and gold and especially silver were lower.

There will be a Futures options expiration for the metals on Monday the 29th.

Never has so much self-serving baloney been fed to so many by so few.

And they seem to be getting better at it.   Bernays would be pleased. 

Tell us lies, tell us sweet little lies.

This is going to be a memorable year.

Have a pleasant evening.

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