"Sin has many tools, but a lie is the handle which fits them all."
Edmund Burke
We live in an age when breaking the rules for personal profit, cheating if you will, and telling lies about it has become an accepted means of acting in public, quietly fashionable, almost admirable to some, provided that the lying is done skillfully well more as a distortion than an outright whopper, and with
style.
I have noticed of late that some seem to lie now quite freely almost as a convenience, in imitation of their 'betters,' those more verbally acute and skillful in the deceptive arts. And when caught out in a lie, seem
offended that you would take notice of it. They are ashamed, not of the lie, but of having done it poorly.
It seems as though even more have been given over to this sort of self-deception, perhaps not originating the falsehoods as such, more from a lack of creativity than scrupulous honesty. They will pass along the lies of others aggressively and without shame, even when they are shown to be false. What matters is that the lies flatter us, our biases, our positions, and our passions. Team spirit.
I had a friend, who to all appearances was an upstanding person and quite proud of it, who passed along some things that were blatantly false, unkind, and quite nasty to some others. I implored him to stop. And when it was shown to be false, in a fairly indirect and non-confrontational manner, he was quick to respond indignantly, 'what is truth?'
This is ironically the quote that marked Pontius Pilate's great moment of moral failure for the sake of personal expediency. I am not sure what was more injured in this: my long loyalty as a friend or his character as a man. It is not that most of our sins are so great; they are not, they do not rise to greatness in any sense of the word. Rather, it is that they obtain for us so little while costing us so much. What does it profit a man indeed.
What is truth? This could be the motto for the generation that is passing. Truth is whatever we say it is, and woe to any who dare to disagree or bring any light to their fanciful imaginings.
The Central Fund's NAV discount has contracted quite a bit from what it had been.
Sprott Gold has raised its cash by selling additional units.
Sprott Silver is priced at a slight discount, which is a bit unusual given its historical norms.
The gold/silver ratio is still a bit high, but not as high as it had been.
The rally in gold is being driven by a flight to safety, among other things. Although Year-To-Date silver is still leading gold on a percentage basis, and many other financial assets as well.
We will be hearing from the FOMC within the hour.
