Where Are We Going?

“My favorite poet is Aeschylus, who once said: ‘And even in our sleep, pain which cannot forget falls drop by drop upon the heart, until in our own despair, almost against our will, comes wisdom through the awful grace of God.’

What we need in the United States is not division. What we need in the United States is not hatred. What we need in the United States is not violence and lawlessness, but love and wisdom and compassion toward one another, a feeling of justice to those who still suffer in our country. ~ Robert F. Kennedy

It is not so much where are you going Lord, but rather, where are we as a people choosing to go. At the moment it appears to be on a darker path, led by fury and passions as old as Babylon and evil as sin. It is an old story. Nevertheless, let us not despair.

Gold has broken out and is holding its level above the high set in the aftermath of the Trump election upset. Silver is holding its level on the 18 handle.

Now gold seems to be consolidating, most likely for the attempt to push higher to take on the intermediate highs and resistance around 1370-1380. More pullbacks to test the breakout are not unexpected.

As you know, myself and others who have done some impressive investigation suspect that the ‘free float’ of gold in NY and London has become dreadfully thin, thanks to the long campaign to suppress the gold price on the world markets using the paper leverage on the Comex. Physical gold has been flowing to Asia for some time now, in excess of new production.

Why would anyone wish to manipulate the price of gold and silver? On the simplest level it is a way for the financiers to make money. They worship only themselves and their god Mammon. How can anyone suggest that market manipulation is not pervasive in our financial markets across a wide range of instruments? How many scandals and wristslaps does it take to convince someone?

But secondarily, gold and silver stand as pillars of value, at a time when shaping policy and printing money to benefit a corrupt elite of cronies is the fashion. As a direct result the organic growth of the economy continues to falter thanks to policy errors and a rapacious moneyed class. The Fed and the Bank of England are creatures of the banking system, and have failed miserable in their roles of public servants and sound regulators, which has been a false and almost farcical claim for many years now. The Bankers and their politicians have done nothing to benefit anyone but themselves.

If and when this latest ‘gold pool’ breaks, as they all must do at some time, we can expect the price of gold to spike higher in a sustained rally as the market seeks to reassert a more realistic clearing price. The rally will be driven by those who realize that the jig is up, and they must scramble to deleverage and cover.

We may experience a severe price test, especially for silver, if the equity market suffers a major selloff. I would most likely sit back and wait for it to find its level, and then come in and buy some more metal in my trading account. Unless the government takes action against them, the metals look ready to perform their traditional roles as safe havens.

I want to end with the idea that the [unregulated] market is capable of resolving all of our social conflict, fairly and justly. That is the great idea of the 1990’s. And we all know now what a crock that is. I think what we need in order to restore some kind of sense of fairness is not the final triumph of markets over the body and soul of humanity, but something that confronts markets, and that refuses to think of itself as a brand.” ~ Thomas Frank

The moneyed class and financiers may yet embrace their traditional penchant for fascism. They have done so, even in our exceptional empire, many more times that we might care to admit. They will hold their privileges with increasing self-righteousness, even at the expense of their own downfall.

I am not yet myself as you might expect. But I will be back more regularly in a few weeks.

Remember to pray for the people affected by the hurricanes. And not only prayer, but actions as well.

La Belle Aurore – We’ll Always Have Paris

Here’s looking at you, kid. To Mary from Jesse

Written by Jesse for and published at 24h GOLD ~ September 8, 2017.

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