Bread and Circuses - No Meaningful Financial or Political Reform

"Some time ago I suggested that this implausible and histrionic Russia-gate investigation fomented by the Clintonistas appears to be a thinly-veiled fishing expedition.   The target is not any significant 'collusion' to throw the election, but much more likely [to be] obstruction of justice, coming off dodgy private real estate deals and assorted financial arrangements involving money laundering..."

Jesse, 11 January 2018

Russiagate was a diversion and a distraction from the real work to be done, that of reforming the political and financial systems and putting an end to this predatory economy and its damaging bubbles.

No one in the public was a winner in this.

The criminal investigations will be conducted by the Southern District of New York.  And those are underway.   Anyone who has followed Donald's career knows how deep into the seamier side of NYC real estate development he has been, with all that this implies.

Stocks failed to plant a close over key support today.

Gold has moved to the top of the short term trend channel on the chart. It either moves higher and breaks out or is likely to retrace some of its recent upwards move. Let's hope for a consolidation and a breakout higher, but be prepared for whatever the market gives us.

Companions are a joy and consolation of life. But sometimes they demand our attention and caring. I was up most of the night with Dolly, who was sicker than at anytime since we had her. The poor little thing was losing it from both ends, and mostly in incovenient places. But as she has settled down and is feeling better, and holding down a little rice and chicken broth, I too will kick back and rest with her. And so I will say no more for now.

There will be precious metals expirations on the Comex this week. They are not for contracts of consequence.

The Banks must be restrained, and the financial system reformed, with balance restored to the economy, before there can be any sustainable recovery.

Have a pleasant evening.