Today is December 7, 2011. Seventy years ago today, "the United States of America was suddenly and deliberately attacked by naval and air forces of the empire of Japan". That this war of imperial expansion could have been avoided is lost on most people.
Yes, thousands died that day and in the years that followed and their sacrifice must be remembered. However, the seeds of the Pacific War were sown 40 years earlier by the racist, imperialist policies of American leaders such as Teddy Roosevelt and William Howard Taft. If you are interested in learning more about this, I strongly encourage you to read "The Imperial Cruise" by James Bradley. Here's a link if you're interested:
OK, three quick items this morning. First up, a gold chart update. You'll recall this chart from Monday morning. Well, I've updated it and you can see how the trend continues but is getting close to resolution. For today, the top of the "pennant" is at about 1750. Tomorrow it will be even lower. The likely breakout direction is UP and, from there, gold will target 1800 and then maybe even 1840-50 before the end of the month.
Next, if you haven't read this yet, I encourage you to do so now. That a major TBTF, sell-side bank would publish "research" such as this is breathtaking. How close to the end must we truly be?
Lastly, as you know, I watch very little television. One program that I have taken a liking to, however, is Judge Napolitano's nightly show on Fox Business. He seems to be a true leader, libertarian and patriot. Last week, the U.S. Senate passed a "defense authorization bill" grants the U.S. president the authority to detain, without trial or counsel, any U.S. citizen he deems a threat to security. That this blatant constitutional travesty has been actually approved by the Senate should send shivers down the spine of every American citizen. As you might imagine, The Judge is all over it and last night he interviewed one of only seven senators to have voted against the bill. I urge you to watch the segment now.
We here at TFMR should be "all over this", too, as yours truly and, frankly all of you reading this, may one day find ourselves subject to this "detention". Soon I hope to publish a special "op-ed", written by a fellow Turdite, that details this clear and present danger to your civil liberties. Until then, please take the time to research this yourself and warn your friends and family.
12:45 EST UPDATE:
Glad to see the PMs holding in there today, albeit in a choppy trade. I am currently listening to a "webinar" of Gonzalo Lira, James Turk and Charles Hugh Smith. Pretty interesting and I'll be sure to share anything that deserves your attention once it's finished. In the meantime, I just received this from Chris Martenson. It's worth your time.
More later. TF