"What is good? All that enhances the feeling of power, the will to power, and the power itself in man. What is bad? All that proceeds from weakness. What is happiness? The feeling that power is increasing--that resistance has been overcome. Not contentment, but more power; not peace at any price, but war; not virtue, but competence.
The first principle of our humanism is that the weak and the failures shall perish. And they ought to be helped to perish. What is more harmful than any vice? Active pity for all failure and weakness— christianity."
Friedrich Nietzsche, The Antichrist
"For we wrestle not against flesh and blood, but against principalities and powers, against the rulers of the darkness of this world, against spiritual wickedness in high places."
Ephesians 6:12
“A true opium of the people is a belief in nothingness after death— the huge solace of thinking that for our betrayals, greed, cowardice, and murders that we are not going to be judged.”
Czesław Miłosz
Stocks were doing well today as investors continued to pile into the 'relative safety' of the small caps of the Russell 2000.
Big cap tech put its moonshot in place, but fell off into the close.
The Dow continued its string of losses, the longest since March 2017.
This may be late stage blowoff top action. We'll have to keep an eye on where we go with this next.
The market was cheered that Trumpolini signed an order putting some modification into the wholesale separation of immigrant children from their parents. The manner in which he phrased the words around this were interesting. Like Obama he seems able to look at something that he has done, and address it in the non-involved third person.
I think caution in US equities is advisable, and it may be time to take some profits off the table,
especially if we get the kind of initial drop and breakdown with a failure to recover that I had been discussing with examples from history yesterday.
I'll let you know if I see a major tsunami warning, but even now caution is advisable.
The Dollar was a little higher with gold and silver off a bit.
I was a little surprised to see the dual drop in gold marked available for delivery on the Comex. Gold in the NY warehouses dropped by half to only 230,000 ounces!
This matches up with a similar drop in the gold in the inventory in Hong Kong. Let's see what happens next there. I will be curious to see what amount of gold shows up in Hong Kong to meet delivery demands there.
There will be an option expiration next week on the Comex, that is not likely to be consequential for gold. August is the month for gold trading action. It may be of more interest for silver.
Bloomberg had some transmission problems in my area in the last hour, and so I flipped over to CNBC. Now I recall why I had stopped watching that infomercial channel some time ago.
Two of my wonderful goddaughters came over for a visit today. We (they) did a nice job tidying up some things that did not meet with their approval. I have to admit that I lack their touch. Like my son, they are my joy and my consolation.
People are funny. They just don't get it. They think that they are in the know, that they are some kind of superior beings, and that they are winning the game. They don't even understand what the game is really all about. It can be almost heart-breaking to see what they do to themselves and to others, for less than nothing. For what does it profit a man...
Need little, want less, love more. For those who abide in love abide in God, and God in them.
Have a pleasant evening.
