As a middle-aged American male, I'm told by my television that I should be concerned about "Low T"...Big Pharma slang for low testosterone. So far, so good on that one (as MrsF will attest ). A much bigger problem right now is "Low E"...Turd slang for low enthusiasm.
Maybe tomorrow I'll write a post that discusses the MOPE and crap of yesterday. That The Fed can/will end QE as soon as later this year is so nonsensical that it doesn't deserve logical refutation.
Maybe tomorrow I'll write a post that discusses the latest BLSBS, replete with buried statistics and mentions of participation rates and seasonal adjustments.
Maybe tomorrow I'll write a post that includes a bunch of charts with lines drawn all over them, showing where price might stop and reverse.
For now, I only want to write about the one thing that bothered me the entire time I was on vacation...the CFTC.
You see, here's the problem: I'd like to have hope. I see things. I talk to people. I read a lot. And I think. All of this leads me to the conclusions I espouse here. Namely, that the end of The Great Keynesian Experiment is upon us and we all need to prepare accordingly. The politicians are all corrupt. The U.S., and the world for that matter, is ruled in favor of the very few, particularly the international bankers. The global economic system is about to collapse and morph into something completely different from what we've all known our entire lifetimes.
But, I'd like to have hope. Hope that I'm wrong. Hope that I simply have an overactive imagination. Hope that I am just channeling Russell Crowe playing John Nash, seeing clearly nothing but make-believe conspiracies and foolishly connecting the dots.
But the problem is...the CFTC. There the illusion and hope unravels.
You'll surely ask me how I know and I'll say "I don't". So, don't bother. I have no proof. Only faith and trust which could also be misplaced. But I am entirely confident that the CFTC has been given, all wrapped up in a neat little package, everything they need to prove, beyond a shadow of a doubt, that the metals markets are wholly and entirely manipulated for the gain of a few bullion banks. Instead of acting promptly, to restore order and confidence in "free and fair markets", they dawdle. They stall. They issue no statements. They conclude no investigations. And, most importantly, they allow the crime to continue as if nothing has changed. Only now they are accomplices, to the point of being co-conspirators.
And this is the problem. Hope is gone. Not that the CFTC was some hoped-for, last bastion of integrity. That's not it at all. They are, instead, the proverbial "straw that broke my back". Because now that I know that the CFTC is negligent and corrupt and only serving to protect and defend their TBTF overlords, my hope is gone. And, again, I'm not talking about hope for a resolution to the metals manipulation, I'm talking about hope that the entire western political and economic system really isn't as corrupt and narcissistic as it seems. For it's impossible not to reach the following conclusion:
- The CFTC is protecting a major TBTF, Fed primary dealer by refusing to acknowledge the manipulation.
- If this one, government bureaucracy is in the back-pocket of the banks, all of the rest likely are, too.
- And if all of the agencies are in the back-pocket of the banks, then the politicians are, too, because most of the bureaucrats are political appointees.
- And if all of the politicians are in the the back-pocket of the banks, then the entire political system is a sham. There are no elections. It's all just an illusion designed to mollify the masses.
- And if that's the case, what kind of world do we really live in?
So, you can see my problem here. I suffer from "Low E". Why bother to write about all of the day-to-day stuff? Why mark up all my silly charts? Once hope is gone, soldiering on can get pretty challenging. Perhaps I can draw renewed inspiration from the idea of "awakening the masses". Logic suggests that only by operating within the matrix can you reach those still contained therein. But I don't know. I really don't. Inevitably, the first question is: Why try at all?
Let me work on that for a while and I'll get back to you soon. Maybe tomorrow.