The stock market was finally taken in hand by some adults, who worked to stabilize the prices, and then slowly and deliberately walked it backed up, getting a little greedy perhaps in the last hour when they started running the bears into short covering. I do not expect this to end well. It is just a matter of time, and timing. To that end I have posted intraday my favorite commentary on hubris and will to power that was American finance and politics in the 1920s. It is titled Remembering the Summer of 1929. You may wish to do yourself some service and watch the entire documentary. It is worth it. Today was an option expiration at The Bucket Shop. Gold and silver fell somewhat to the campaign of managing the wallets of passing speculators, as well as perceptions. The pinnacle of the Banks, the Fed, seeks to restore confidence in paper, and discourage even a thought of just about every other alternative. The dollar managed to rally a bit back up today. A stronger dollar is definitely not in the interests of the US economy, but it does favor the predatory financial class. And since they are 'in the driver's seat' of the markets these days, they bend them to their will as they may. Forces backing the supremacy of US dollar based paper financial assets and decision making are fighting this trend towards economic and monetary alternatives in the rest of the world with all their power. So we are watching an historic, great drama unfolding. The rise and decline of Empire are often not discernible to the participants at the time, and often tend to follow their own schedules, seemingly slow and then in great rushes of change that seemingly could not have possibly been foreseen. And never forget this great truth that in the long timescale of monetary history, gold and silver are almost constants, but purely paper money is just a glimmer, a relative flash in the pan that is here, and then it is gone, with whatever passing regime of the day that may have fathered it. Gold and silver are forged in the hearts of great and uncommon stars, and nowhere else. And the trappings and ornaments of mortal men are often powerful, and sometimes seemingly irresistible for a time, but in the end they are just dust, returning to the vanity and nothingness of their creators. As will even gold and silver return to nothingness, at some even more and very distant day. But the soul of even the most common and ordinary person will endure in its Creator forever. So let us mark our priorities accordingly. Have a pleasant evening.
