“The world says: 'You have needs— satisfy them. You have as much right to it as the rich and the mighty. Do not hesitate to satisfy your needs; indeed, expand your needs and demand more.' This is the worldly doctrine of today.
And they believe that this is freedom. The result for the rich is isolation and suicide, and for the poor, envy and murder.”
Fyodor Dostoyevsky, The Brothers Karamazov
The marketeers were massaging perception today, putting up a good front of confidence despite the many, many geopolitical and economic risks.
This smells like a bubble topping. That can take quite a bit of time, or not. It depends on what happens to specifically break the illusion that is driving the hot money to chase mispriced risks.
Gold and silver finished largely unchanged. The Comex is becoming a betting parlor that happens to have a little physical metal in the back room. This is more true for gold rather than silver, given the activities of some parties in Comex silver to use it as a delivery mechanism for their wholesale operations.
I still like gold and silver here, but until they can break out this is an uncertain position on the charts. The formations have not yet activated, but are there waiting to open up. The resistance by the metals bears has been determined, but paper driven.
As I mentioned the other week, the tumor in the queen's brain has come back and is so deeply positioned as to be inoperable So tomorrow we begin radiation treatments every day for three weeks with the goal of eliminating it. It will be a tough go, and I may be late or miss a few postings.
This week we remember the events of one of the most meaningful weeks in all human history. And in this is our freedom, not of the world that seeks to master us, but in spite of it.
You, my brothers and sisters, were called to be free. But do not use your freedom to indulge your desires and your greed; rather serve one another, with humility and love. For the entirety of the law is fulfilled in keeping this one commandment: 'Love your neighbor as yourself.'
This we have not only forgotten, but mocked and trampled into the dirt. We live in an age when greed has been declared the greatest good, and the measure markets. And so in the name of such false freedom, we may once again make a hell on earth.
Have a pleasant evening.