Guest Post: Monsters and Metaphors

Mon, Feb 22, 2016 - 8:19am

Much discussion this weekend that is relevant to the central aim of our blog seems to center around the legitimacy of this recent metals rally and whether or not “this time is different.” Our fine host Craig has warned us on Friday that this time may not be different. In fact, key signals that have traditionally preceded a metals smash are present.

Yet several others here over hte weekend argued that this time really may be different. Oil is struggling to remain above 30. … ZH article are mongering fear at an unprecedented rate. Global markets are falling. But in other news, it is business as usual The G20 is meeting on schedule. Banks are open. Hillary is ahead of Sanders. When we start having some bank holidays, and when metals bust higher in the face of the paper shorting, then we can all be certain. As of this AM, metals have been taken down in an all too familiar overnight pattern. And I have to take that as an indicator that the bankers are still in the driver’s seat. Trade accordingly and do not lose heart if we run flat today and continue to fall tonight. We seem to be sitting on support in gold and silver has formed a classic head & shoulder pattern and moved well below the neckline. The USD/JPY has been pushed up to 113.20—nearly a dollar higher (whatever a dollar means these days). So far, we are not looking so different. But my fingers are crossed.

Meanwhile, the S&P has rallied and is trying to break above resistance. Other markets are all moving higher on the good news… Uh… I’ll let you know when I see what that "good news" is though. Bloomberg seems a tad pessimistic this morning.

DUST is trading higher this morning and I am considering buying a bit after the morning profit-taking. And you should only follow my trading advice if you want to profit occasionally and enjoy licking your wounds the rest of the time. Edit: I bought a little just now (9:40am)

Well enough metals talk. Let's about other Keynesian things things, like monsters…

In 1818* Mary Shelley wrote the novel Frankenstein. (sorry, Mel Brooks did not write the book, but I noticed this classic version is reading the WSJ) The idea came to her in a dream after making a wager with a friend about who could write the best horror novel. Well, you know the story, but as with all great literature, there is a deeper meaning that bears hearing. Monsters are scary. Perhaps the muses inspiring these stories needed to warn humanity about very real dangers? I think this deserves a closer look.

We can all agree that there is “evil” in this world--way too much evil. But it is not often that someone is able to define or put a face and explain it clearly to all of us. Perhaps Jesus and other religious leaders have tried to identify and warn us. But most of us are dense and think that evil is just an ambiguous term we use to define that which we do not like. Yet these captivating stories about monsters have sneaked into our modern culture—indeed all cultures in the world and in our past. Something is afoot. Our subconscious psyche is fascinated. We saw them under the bed as children, leaping in and out of bed so our feet did not get too close to that dark place at hte edge. But we still watch modern movies, cringe in horror, and feel the denouement as the film ends with another monster destroyed. But I am suggesting that these characters from literature are no accident—each of the classics represents a threat to our culture today.

Mary Shelley was married to a scientist. There is our first clue about Frankenstein. One can read her novel, understanding the monster as a metaphor for when science goes awry. In this case, a scientist was attempting a project involving the creation of life that he should not have been attempting. His project developed a life of its own and and he lost control of it, mildly speaking. Explain, predict, and control--that has traditionally been the goals of science. Frankenstein--science gone awry--and science that emanated from a need to be like god and create life. I call that an accurate description of any number of bad science projects in human history--nuclear weapons, genetic engineering... you get the picture. Zika, Monsanto, Round-Up ™

I am intrigued with this idea. I wonder what other “monsters” have to teach us?

Godzilla is easily recognized as the metaphorical threat to Japanese society, fishermen (initially) and then the entire Japanese society courtesy of testing by the US and the subsequent direct assaults Japan by the American military at Hiroshima and Nagasaki. A monster that attack and destroys entire cities, with Japanese military units vainly trying to kill it: “We’re gonna need bigger guns.” But alas, they had none. The fears of an entire culture found catharsis in seeing the military, science and the heroism of individuals overcoming the monster and driving it away—only to return in the sequel. Hard to get enough catharsis, you know.

One of the great literary theorists of our time, Kenneth Burke, taught that "magic" is just "primitive science" of people attempting to control the world around them.

Notable among “monsters” who use magic, who try to control those around them, are those known as witches, witch doctors, or warlocks--perhaps the occasional wizard (but not Craig, of course) . We can surely see the parallels with the corrupt priests & ministers of modern organized religion,. Religions provides the “thou shalt nots” that control the masses of citizens. Using their secret knowledge and expertise of theology, they create elaborate systems of rules to guide our behavior. (Hmmm… that is not how Jesus approached religion. He actually waged a war of ideas with these priests, ultimately being murdered by them. But I digress…) Witches try to control people as we all do at times, but invoke spiritual power in their attempts to influence. Beware of corrupted religion. And alas, but my own field of Rhetoric is accused, rightly so, of using words to influence people to make choices they would not otherwise make. I guess we have to beware of PR and Advertising industries also. [insert green Hillary pic here]

Zombies have been revived in modern movies and without much argument speak to us of the factory workers, enslaved to a system that drains their lives, and steals their humanity. They have ceased to think and live only for the lust of eating. Moving slowly, but dangerous in numbers that can ultimately corner a “normal.” They kill and eat the brains of others, converting that poor soul to their ranks, destroying their ability to think freely and reason out answers and responses to the challenges of life. Here on this blog we too often call them “sheep,” obscuring the reality of the mindless obedience to the lust of hunger to which these people are doomed.

Vampires are another monster that teaches us about a class of people--politicians and government ministers. The most famous was a "count"--the ruler of a county in the feudal system of monarchial government. He lived in a castle--or a palace, from where the surrounding countryside was ruled, only appearing at night. Sophisticated, charming, and dangerous if he sets his eye upon you, feeding upon the lifeblood of the people around him--living on the taxes. He must maintain a balance of gathering all the tax possible while leaving the economy alive. Take too much money from the local economy and it dies. Many victims are seduced into his world, living on the blood of the people, bureaucrats, agency directors and corrupted employees, abusing their office and power, living on those lifeblood taxes and contributing very little to the community except bondage.

Finally, this brings us to werewolves -- interesting creatures. Human (and respectable) most of the time, but transforming into a ravenous, destructive animal when the moon is full--in other words, once a month (NO… not your wife). I am afraid that I am reminded of bankers as I ponder their characteristics. They can be your best friend when keeping your money or making loans, but, the interest they charge eats a person bite, by bite. And just miss that monthly payment and their monstrous side emerges. I find it instructive and revealing that they can only be killed by a silver bullet. I am reminded of a story I read (Roots) about a slave in New England who saved up the little silver he could earn in bottom of the cooking pot hanging over the fireplace. Year after year, he added coins until he had enough saved to buy his freedom. No inflation to eat him alive with that silver money--the bane of bankers.

Now if we were to discuss Dr. Jekyll and Mr. Hyde, I’d have to indict myself, and warn all of you to be aware of the dangers of giving to your own vices--fear or greed in my case.

The root of "monstrum" is "monere"—which does not only mean to warn, but also to instruct, and forms the basis of the modern English demonstrate. Thus, the monster is also a sign or instruction. Monsters are the stuff of our dreams—subconscious fears that we are dealing with in real life. They are the overpowering force that children are helpless to defend against. But we are all children (especially when trying to trade competing with algos and TBTF bankers) that have to negotiate life with these sociopathic entities seeking to consume us at every turn. The monsters are created when vice overcomes the natural talents of these specific individuals, when their hubris, greed, avarice, lust drag someone with talent to a dark place. Then they are transformed into a monster, eating our children, drinking our blood, tearing us to pieces when we miss a payment, and often when we do not. Only the community can fight a monster after a certain line is crossed.

The muses who inspire our literature and dreams are shouting at humanity with some basic principles. Our monsters are warnings--a coded taxonomy of those people and offices that we must keep in check. Only the people, bonding together, marching out with torches and pitchforks, can stand against their power. Once cornered, these monsters, their true nature is on display, are executed by the entire community, with not one citizen wondering if they did the right thing or not. Monsters have to be put to death. Prisons cannot hold them, they corrupt all those they can seduce, destroying a society. They are too powerful for a single individual to confront. Superheroes are just a myth, keeping the sheep satisfied with reading fiction about justice**, instead of experiencing real justice through community action against evil.

Each of these monsters has its legitimate corollary in our society when vice does not overcome their humanity-- as long as they cannot grow beyond their place, as long as they are not overtaken by various lusts. We need scientists and inventors to help us solve practical problems, to control our environment to make life more enriching. We need a helping hand from the community, in some form, to help us build projects that are too large for one person, projects that cost more than a person can bear. But rather than rich, greedy bankers, we have barn raisings, we help neighbors build homes, and they in turn help us. Religion has its proper place--holding the codes of our culture and society, teaching us the “Thou shalt nots" that if left unchecked will break down that community. We lift our eyes to our creator to honor him, and nurture the principles that he has imbued in us--justice, mercy & humility. And somebody has to lead a community of people, making the daily decisions, administering the justice of the state, but not to excess, keeping taxes as low as possible and doing only what is needed to keep communities safe and secure. Been a long time since we have seen such a leader and I am still waiting for the crowd to form.

Only as an honest collective of people, who have disagreements but bond together when our entire community is threatened, only as a community do we discover the power to overcome these monsters… monsters that are not as fictitious as our movie industry would have us think.

Until that grass roots movement appears to take down corruption, a person is brave buy perhaps wasting their time to fact it alone. For now, get to know your neighbors. Stand by them. Watch their back, come to their aid when need arises (and it will). Humans thrive when they work together and all move in the same direction, and when they keep stacking.

Frankly, the metaphors here are rather transparent.

* For you numerologists out there, have fun with that year! 1=8=9 (2x) 9+9=18 and 1=8 =9, and the number nine signifies something significant, I'm sure.

** I am also guilty of taking pleasure in dramatized justice, my favorite crime series being NCIS, closely followed by Bones and X-files and Johnny English.

About the Author


Feb 22, 2016 - 8:24am
Feb 22, 2016 - 8:40am

good artilce as always

just for fun here is the definition of a monster from Bouvier's law dictionary

MONSTER, physiology, persons. An animal which has a conformation contrary to the order of nature. Dunglison's Human Physiol. vol. 2, p. 422.

2. A monster, although born of a woman in lawful wedlock, cannot inherit. Those who have however the essential parts of the human form and have merely some defect of coformation, are capable of inheriting, if otherwise qualified. 2 Bl. Com. 246; 1 Beck's Med. Jurisp. 366; Co. Litt. 7, 8; Dig. lib. 1, t. 5, l. 14; 1 Swift's Syst. 331 Fred. Code, Pt. 1, b. 1, t. 4, s. 4.

3. No living human birth, however much it may differ from human shape, can be lawfully destroyed. Traill. Med. Jur. 47, see Briand, Med. Leg. 1ere part. c. 6, art. 2, 3; 1 Fodere, Med. Leg. 402-405.


Feb 22, 2016 - 8:45am

4th? Nope 3rd

Darn it!!!! 3rd, Now to read. Keep Stacking

Mr. Fix
Feb 22, 2016 - 8:53am


Marchas, I was waiting for you to try again. I would have.cheeky

Dr. Jerome, thank you for holding down the fort here.

Feb 22, 2016 - 9:08am

Excellent article Dr. J

Very good read.

Thank you

andrewbyrd LostMind
Feb 22, 2016 - 9:12am

Always a pleasure reading

Always a pleasure reading your musings Dr. Jerome.

No this has a long, long ways to go. This will turn out to be another buy the dip opportunity in the markets. They are in full control as always. Better just to live life. I was hoping to sell some silver on this rally but didn't make it high enough.

Feb 22, 2016 - 9:25am

7th! I blinked

Did I beat Marchass?

Edit: No, he is like Tiger, whereas I only have moments of Tigerishness left!

Now to read Dr J.

1.30am Tuesday here

Feb 22, 2016 - 9:50am

I see a nice setup for...

  • SLV Calls
  • SPY Puts
Joseph Warren
Feb 22, 2016 - 9:51am

The Worst Monsters are the Ones Youre Unaware Of (Rob Kirby)

I was made aware of these videos a few years ago when Rob Kirby mentioned them. I was reminded of them when, in a recent interview, Kirby said that he had watched these critically important videos more than a dozen times. Hmmm . . .that endorsement is a good enough reason for me. Time to watch them again -

(P.S. - The significance of the last video really hit me in my last viewing of the series.)

Feb 22, 2016 - 10:02am

Thanks Dr J

Always love your writing.

You attribute Craig, which is funny to me, because were I to see him in a Sydney bar, I'd yell "Hey Turd, how the fuck are you?" and not hey Craig.

I have been reading him for so long, that would be my reflexive greeting.

The rest of the pub might be wondering who the hell would be called Turd!

When I see posters acknowledge Craig, it always sounds so strange to me.

Some of my friends from my military and skydiving days I have great difficulty remembering their real monikers, as their nicknames were always used.

I'm watching Armageddon in the background, and always feel that this 'monster' event would negate all our earthly concerns over our corrupt leadership - we spend more time looking for ways to destroy each other, instead of looking for cures to our human diseases, and looking for ways to protect our planet from these monster planet killers.

Rambling a bit, so enough from me.

Donno Out!

Feb 22, 2016 - 10:56am

Dr. J I'm My Biggest Montster Fear.

I believe you hit it on the head with "fear or greed" for most of we Stackers. For me I fight with it on a daily basis but most of the time I win. laugh Keep Stacking

Feb 22, 2016 - 10:57am


The war in the middle east is about to explode. There are estimates of over 350,000 troops on the Syrian border ready to attack the Assad government. The first nuke fired will bring the global financial system to its knees. You can sell all the paper gold you want but that monster will be slain!!

Feb 22, 2016 - 11:17am

Great Post Dr J

Apparently another peace agreement has been reached between Russia and the US over Syria but than I also saw a report that Turkey was going to close The Bosphorus Strait. To me after watching the Dr. Stephen Greer Video it is all just an illusion and pony show including the political theatre of Trump etc. Cliff High was mentioning this week should be interesting for the metals as well. We shall see. I see monsters everywhere.

I see monsters - Ryan Adams
Feb 22, 2016 - 11:37am


Holding on to PHYS, but took Craig's thoughts into consideration and bought some DUST ...

I determined that DUST= (total PHYS)/7.5 would probably act as a decent hedge for me.

I'm worried about Gold if it breaks 1,190 ... could go down to the 200 DMA ?!

Also Gold Miners (GDX) are way above the 50 DMA ...


Feb 22, 2016 - 11:49am

Governor Zhou Xiaochuan

Recently Governor Zhou Xiaochuan had an interview with Caixin and talked about the yuan exchange rate regime reform, macro-prudential policy framework, digital currency and other topics. The following is an edited transcript of the interview.

The direction of the reform of yuan exchange rate regime

What will be the direction and pace of the yuan exchange rate regime reform in the next stage?

The exchange rate regime reform will be carried out unwaveringly. We are patient. We hope to see substantial progress in the exchange rate regime reform during the 13th Five-year Plan period, moving toward greater reliance on market forces and a more flexible exchange rate.

The direction of yuan exchange rate regime reform remains unchanged, that is, a managed floating exchange rate regime based on market supply and demand and with reference to a basket of currencies. First, market supply and demand are emphasized. The market is to be respected despite the existence of short-term speculative forces. In the mind of the central bank, there is not an optimal, model-produced exchange rate level. The reference to a basket of currencies is a natural choice for China as a country with diversified trade partners and investment in multiple regions. The reference to a basket of currencies was not emphasized in the past with our focus on the U.S. dollar. In the next step, we will strengthen the reference to a basket of currencies. We have always held the view that the efficient market hypothesis cannot be relied upon 100 percent. A market deficiency may demonstrate itself from time to time when the market is dominated by speculative forces, short-term sentiments or herding behaviors, and therefore certain management is necessary for a floating exchange rate. Our aim is to have the exchange rate "broadly stable at an adaptive and equilibrium level," and there are interactions between the two. Although the equilibrium level defies an accurate assessment, a broadly stable exchange rate level can only be achieved when it is around the equilibrium level. Stability is impossible when the exchange rate is at a wrong level or in disequilibrium. Meanwhile, the pursuit of an equilibrium level can only be facilitated by the presence of general stability. Few will heed fundamentals or equilibrium analysis in times of turbulence and turmoil.

For a country as big as China, to achieve the reform goal may require a considerable period of time. To press ahead with reform, one should take decisive actions when windows of opportunities open up, but refrain from reckless moves in the absence of such windows. We can wait a bit and create more favorable conditions for reform. We emphasize balancing reform, development and stability for the Chinese economy. The international economy is recovering from the crisis. This emphasis is still relevant. We are pragmatic, patient and determined with our goals, but do not target to move in a straight line toward reform goals. We will continue with reform efforts, and will also continue to be a responsible big economy.

Dyna mo hum
Feb 22, 2016 - 12:24pm
James Crighton Dyna mo hum
Feb 22, 2016 - 12:41pm

@Dyna mo hum 12:24pm

Gary Powers ...........................

It all comes home to roost, eh.....


Feb 22, 2016 - 12:49pm
Verus nemo
Feb 22, 2016 - 1:04pm

I think the monster's name is MOAR

and he inhabits each and everyone of us,without exception. It is why I've chosen to be a simple stacker rather than trade. I do not trust myself; I have the capacity within myself to want ever MOAR. I have learned in my ongoing maturation to be content with what I have today and not always be a slave to the monster within that whispers ever so seductively that what I have today isn't enough. That goes for the accumulation of metals, as well. If the ability to earn more tomorrow (income) than what tomorrow costs (expense) is removed, I am determined to count it a blessing that I had as long in life as I did to accumulate true wealth.

Not to speak for Charlie (Marchas45) above but rather to expand on his succinct post, I grow uneasy whenever I read so much talk from fellow precious metals advocates about the desire to "make money" through trading. Hum. Isn't the "making of money" (with little effort/sweat, seemingly from nothing) exactly what we detest from the money-changing banksters? Maybe the problem isn't a dichotomous, the 'banksters vs. us' but is instead a spectrum upon which we each occupy our place. When I was young, we spoke of earning a living rather than making money; where's E.F. Hutton when we most need them? It seems to me that even the language we use today betrays us.

As an American, I desire a restoration of my Republic if for the simple fact that I want my children too to benefit from hard work. To my simple mind, that Republic mandates three preconditions: a (true) rule of law, a respect for the sanctity of private property rights, and honest money. One or even two out of three isn't sufficient; all three are required. The longer that we believers continue participating----even when to our own benefit-----in the fraud that is the FRN-based monetary system, the longer that fraud and the tyranny it entails will continue.

I rather think that even with his boorish nature sometimes that Spartacus Rex (over on the Main Street thread) is absolutely correct; we each must be actively accumulating lawful money (as it is defined here in the US). To his assertion I would only add this: if we are serious we'd best be looking for opportunities too to spend some of that lawful money into circulation with other, like-minded individuals similarly committed to liberty. It is the participation in and the honest contribution to a community of integrity that is going to ultimately get us out of this mess, if it even still possible.

I do not mean to disparage those of you who engage in trading these markets as it clearly is your right to do so. I hope that you succeed! But at the same time, from all your puts & calls, all your shares of DUST and NUGT, etc., I hope that you'll plow virtually all of that profit into the purchase of physical metals so that-----together with us stackers------we can bring this corrupt system to its knees sooner rather than later.

Monsters indeed. I know because I have been and remain even today...him.

Feb 22, 2016 - 1:20pm

2/22/16 - Musings on the final chess moves

Dr. J., This is indeed a timely article. I've personally been grappling with my final strategies and positioning at this juncture. I've been so busy lately, in fact, that I haven't had time for any therapeautic musings here on Turdville. I've been grappling with wrapping up a number of projects, as well as tying up loose ends financially. Here are some of my resolutions on the topics.

One of the issues I've been grappling with is taking a position in miners. Two weeks ago, I read the link below:

I had a online trading account with some stock in it from a local company I'd accumulated a fair number of shares in some years back. I had a notion to liquidate the position and invest in HUI listed mining companies. Then, I read that link. This is "Mr. Gold" himself. If there's any mining company in the world that would have the best ground, the best management, and the best positioning to survive the coming turmoil, it would be "Mr. Gold's" mining company. Obviously, if this company is declaring a force majuere this early on in the end game, what chance do the rest of them really have in the face of the approaching tsunami?

Still, given that the odds of this small company I owned a small percentage of wouldn't survive the coming depression, it was prudent to liquidate the position, anyway. I feel kind of sorry, in fact, for whoever it was who bought out my position. I know their chances of seeing any return on that stock, let alone return of their capital on that stock, are slim to none. So, I got as completely out of the system as I possibly could. I ended up taking a loss on the transaction, but I felt fortunate to get anything out at all.

So, I've got a chunk of money that I want to stack... Do I wait for the coming slam as indicated by the COT structure, or do I stack all I can now because this might really be (finally) the first glimpse of the iceberg that the Titanic is about to strike? I came to the resolution that I should only stack half. If I get the smackdown in price because this is just another wash and rinse cycle on the charts, than I still have half left that I can buy more ounces with. If there's all out mayhem, at least I got more ounces in the stack.

To my thinking, it is simply not prudent to sit on a pile of fiat at this stage in the game. When the run begins on gold and silver, the supply lines are going to seize up just like they did in Q3 of last year, and it won't be available. The collapse could come tomorrow, next week, next month, next quarter, next year, it doesn't matter. It's inevitable and immenent at this point in time. Trying to time an optimal exit from paper and into physical assets is folly. One is likely to end the game with a great big handfull of nothing.

Feb 22, 2016 - 1:21pm

Thanks DrJ

Hello, everyone.

Frustrating but strangely rewarding to see gold and silver smashed again overnight. It's hard to watch but it's also somewhat reassuring to know that we've got Them figured out. Again, knowledge is power and we use this knowledge to our advantage (and sanity).

I have just a few topics that I'd like to address so I hope to record a brief podcast later today.

Have a great day.

p.s. How about the miners?!?

Angry Chef
Feb 22, 2016 - 1:27pm

Dr. Jerome....Here's a Monster For You...

The War on Terror ! And he only thing that can slay it is phyzzzzz...kryptonite to the Banksters !

Feb 22, 2016 - 1:34pm

Monopoly is going cashless

yes, you heard that right. Hasbro is introducing a new version

of their famous game "Monopoly" and yes it will no longer include cash.

Players will each have a handheld device instead......

Feb 22, 2016 - 1:35pm

Home safe ideas: Big business getting real big with NIRP

In light of the negative interest rates coming I was thinking of picking up a few more for when I dredge the river for my lost gold and silver and if I find them to store them in the new safe.

Any recommendations?

Also anyone throwing a few coins at safe manufacturers as a stock investment?

Feb 22, 2016 - 1:37pm

@Turd Re: how about the miners

Last I looked, Au down 1.67% HUI down only 0.3%

Update, Au down 1.67%, HUI now up .09%

Feb 22, 2016 - 1:46pm


can you look at the sweet spot for march silver options expiration?

Feb 22, 2016 - 1:50pm
Feb 22, 2016 - 2:00pm

Real talking dead

Great post Dr J! One for the bookmarks!

Akin to this timely theme, for fellow affectionados of the walking dead:

Feb 22, 2016 - 2:12pm

RE Alex Jones - Trump

I hope not....but in the event they do.....DIBS ON HIS WIFE !!!

Feb 22, 2016 - 2:24pm

Good luck trying to remove the Donald

I have a feeling that his hair will stop 3" nails from any range. That means 3 sides and top "covered", and his bluster would surely vaporize projectiles from the front.

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