21 August 2014

The White Rose, In the Land of the Willfully Blind


This is one of my favorite leaflets from Die Weiße Rose. I enjoy their observation that "German intellectuals fled to their cellars, there, like plants struggling in the dark, away from light and sun, gradually to choke to death."

One cannot blame them in some ways, since from the very beginning the National Socialists were backing their words with violent street thugs in brown shirts. And so many among the very wealthy and the highly trained professional classes threw themselves into the arms of the powerful like hypocrites and whores.

But even if we rightfully condemn the failure of those whose obligation it is to speak, how often are we seeing this in our own time?

When the economy was very obviously building towards the financial crisis of 2008, how many economists were ignoring the bubble conditions, preferring to keep their noses in their statistics, a willful condition that I call data blindness. How many lawyers look at outrageous miscarriages of justice and say and do nothing? How many of those who have been blessed by circumstances sit back and smugly attribute their good fortune to their natural superiority as a the new ubermensch?

It is not safe to see too much, and even less safe for the career minded to speak out against the actions of powerful insiders who control the benefactions of position, and the perks of the privileged class. 

It is much more judicious to hide one's nose in a selective book of statistics, ignoring the reality, and relying instead on being data blind or ideologically blind to what is really happening.

It is easier to say 'I didn't know of this injustice' and afterwards, 'who could see such a thing approaching?'

And then to do it all over again.


The White Rose
Second Leaflet
Munich, 1942

We will not be silent.

It is impossible to engage in intellectual discourse with National Socialist philosophy, for if there were such an entity, one would have to try by means of analysis and discussion either to prove its validity or to combat it. In actuality, however, we face a totally different situation.

At its very inception this movement depended on the deception and betrayal of one's fellow man; even at that time it was inwardly corrupt and could support itself only by constant lies. After all, Hitler states in an early edition of "his" book (a book written in the worst German I have ever read, in spite of the fact that it has been elevated to the position of the Bible in this nation of poets and thinkers): "It is unbelievable, to what extent one must betray a people in order to rule it."

If at the start this cancerous growth in the nation was not particularly noticeable, it was only because there were still enough forces at work that operated for the good, so that it was kept under control. As it grew larger, however, and finally in an ultimate spurt of growth attained ruling power, the tumor broke open, as it were, and infected the whole body.

The greater part of its former opponents went into hiding. The German intellectuals fled to their cellars, there, like plants struggling in the dark, away from light and sun, gradually to choke to death.

Now the end is at hand. Now it is our task to find one another again, to spread information from person to person, to keep a steady purpose, and to allow ourselves no rest until the last man is persuaded of the urgent need of his struggle against this system. When thus a wave of unrest goes through the land, when "it is in the air," when many join the cause, then in a great final effort this system can be shaken off.

After all, an end in terror is preferable to terror without end.

We are not in a position to draw up a final judgment about the meaning of our history. But if this catastrophe can be used to further the public welfare, it will be only by virtue of the fact that we are cleansed by suffering; that we yearn for the light in the midst of deepest night, summon our strength, and finally help in shaking off the yoke which weighs on our world.

We do not want to discuss here the question of the Jews, nor do we want in this leaflet to compose a defense or apology. No, only by way of example do we want to cite the fact that since the conquest of Poland three hundred thousand Jews have been murdered in this country in the most bestial way.

Here we see the most frightful crime against human dignity, a crime that is unparalleled in the whole of history. For Jews, too, are human beings - no matter what position we take with respect to the Jewish question - and a crime of this dimension has been perpetrated against human beings.

Someone may say that the Jews deserve their fate. This assertion would be a monstrous impertinence; but let us assume that someone said this - what position has he then taken toward the fact that the entire Polish aristocratic youth is being annihilated? (May God grant that this program has not yet fully achieved its aim as yet!)

All male offspring of the houses of the nobility between the ages of fifteen and twenty were transported to concentration camps in Germany and sentenced to forced labor, and all the girls of this age group were sent to Norway, into the bordellos of the SS!

Why tell you these things, since you are fully aware of them - or if not of these, then of other equally grave crimes committed by this frightful sub- humanity? Because here we touch on a problem which involves us deeply and forces us all to take thought.

Why do German people behave so apathetically in the face of all these abominable crimes, crimes so unworthy of the human race? Hardly anyone thinks about that.

It is accepted as fact and put out of mind. The German people slumber on in their dull, stupid sleep and encourage these fascist criminals; they give them the opportunity to carry on their depredations; and of course they do so.

Is this a sign that the Germans are brutalized in their simplest human feelings, that no chord within them cries out at the sight of such deeds, that they have sunk into a fatal consciencelessness from which they will never, never awake?

It seems to be so, and will certainly be so, if the German does not at last start up out of his stupor, if he does not protest wherever and whenever he can against this clique of criminals, if he shows no sympathy for these hundreds of thousands of victims. He must evidence not only sympathy; no, much more: a sense of complicity in guilt.

For through his apathetic behavior he gives these evil men the opportunity to act as they do; he tolerates this "government" which has taken upon itself such an infinitely great burden of guilt; indeed, he himself is to blame for the fact that it came about at all...

Please make as many copies of this leaflet as you can and distribute them.

20 August 2014

Gold Daily and Silver Weekly Charts - Zzzzzzzz... The Mad Doctors


Sleepy summer days.

Madame Tussaud's-on-the-Hudson is acting according to form.

Nothing happened in the Comex precious metals reports yesterday. 

Price discovery based on real market demand and the exchange of goods is reserved for the neighborhood luncheonettes.

Someone suggested, on an economics forum today, that the Fed should raise interest rates to encourage people to save more.  

Let's see, median wages are so stagnant that they are forming economic shale deposits in the middle class, and most potential consumers below the multimillionaire class are living paycheck to paycheck.  The recovery is carefully directed to the wealthiest few, compliments of the Fed's highly targeted-to-financial-assets top down stimulus.

So let's raise interest rates to encourage savings in the face of slack aggregate demand and stagnant wages.  
 
That is like an emergency room doctor suggesting that the heart attack patient just wheeled in should go do wind sprints until he finishes the job that Dr. Greenspan's bacon rinds and milkshakes with intravenous butter chasers diet had created.

Have a pleasant evening.


SP 500 and NDX Futures Daily Charts - When the Music Stops


“When the music stops, in terms of liquidity, things will be complicated.

But as long as the music is playing, you’ve got to get up and dance. We’re still dancing,"

Chuck Prince, CEO Citigroup, 9 July 2007

In this record inequality and atmosphere of serial policy errors by the privileged ruling class, the markets no longer need the broad, direct participation of the public.

The Fed is taking care of the moneyed interests, and the sychophants in government will do anything to smooth their way.

Have a pleasant evening.








NAV Premiums of Certain Precious Metal Trusts and Funds


"She is more precious than jewels, and nothing you desire can compare with her."

Proverbs 3:15

As you may recall this proverb is about Wisdom.  But the pronoun is apt.

My wife is on vacation with the girls at grandma's house in Georgia. So I am keeping things running without her.  A family without a father is a burden, but a home without a wife and a mother is just a house. 

Fed Minutes at 2:00 PM.

Otherwise just another lazy Summer day in the kleptocracy.

The fundamental things apply, as time goes by.





19 August 2014

Gold Daily and Silver Weekly Charts - Cap, Cap, Cap


If I were of a mind to discredit the precious metals, I would not continually suppress the price.

For one thing, this is not practical, since the lower the price goes the more strain it creates on supply by incenting those who are not buying the story about gold's irrelevance to buy even more of the metal. 

Rather, once I got the price down to a level with which I was comfortable for the management of perception purposes, I would inject all sorts of uncorrelated and meaningless volatility into the market, both up and down.

Nothing discredits an asset with the hallmark as a safe have than uncorrelated and almost incomprehensible volatility. Prices shoot up and down for no particular reason. Who wants to base their wealth in that sort of thing.

The paper metals are a charade. The day of reckoning comes a little close with each passing cycle of shenanigans. And the central bankers and their Banks and sycophants fear it.

They may act even more bold to hide their fears, which is their wont to do.  The bigger the lie, the more brazen the delivery.

But at the end of the day they will have to stand and deliver. What they will deliver is a pile of paper IOUs, lies, and a load of outrageous bollocks to be gobbled up by the bourgeoisie who will all be the powerless outsiders.  And no one will be held accountable.  It will be MF Global writ large.

Have a pleasant evening.





SP 500 and NDX Futures Daily Charts - Blue Skies As Far As One Can See


So how do you like the big turnaround.

Not too long ago stocks were dropping, and the bears were slavering for a market break and talking crash.

And today the punters are talking about new highs, and 20% returns on the year for the SP 500 with permanent prosperity for the rentier class.

Its a wash and rinse. Or as Al Capone put it, "It's a racket."

I wonder if we have time for another cycle before the Alibab IPO in September.

Have a pleasant evening.







US Minimum Wage Compared to Other Countries


"The point is that we are all capable of believing things which we know to be untrue, and then, when we are finally proved wrong, impudently twisting the facts so as to show that we were right. Intellectually, it is possible to carry on this process for an indefinite time: the only check on it is that sooner or later a false belief bumps up against solid reality, usually on a battlefield."

George Orwell

I think we can stipulate that these charts do not compare US minimum wages to some of the worst sweatshops of Asia and the Southern hemisphere with whom US workers are expected to compete thanks to undiscriminating 'free trade' treaties. 

And so human rights and the public good are invariably and consciously driven towards the lowest common denominator of cruel and abusive government corruption.

These charts are from Tim Taylor at the Conversable Economist.

I am sure people will draw from them whatever they wish to support their own policy biases and pre-conclusions.

But the one thing we need to internalize is that the US has become all about setting policies and enforcing laws to create and maintain a working underclass as a vulnerable food source for the predator class, a condition that is inimical to a thriving democracy.

And people are becoming more aware of this now that a good portion of the former middle class is falling into that underclass category that lives from hand to mouth, paycheck to paycheck. 

It is becoming undeniable that the political class is no longer listening to 'the people,' but to the richest and most powerful individuals and the organizations that support them and give them that power.

This is not 'capitalism.'  This is crony capitalism, and the deadly corruption of oligarchy.