Mammon, God of Markets
“Wherever your treasure is, there the love of your heart will also be. Your eye is like a lamp that provides light for your body. When your eye is healthy, your whole body is filled with light. But when your eye is sickened, your whole body is filled with darkness. And if the light you think you have is actually darkness, how deep that darkness will be.
No one can serve two masters. For you will hate one and love the other; you will be devoted to one and despise the other. You cannot serve both God and Mammon.”
“Beware the leaven of the Pharisees, which is a pious, hollow hypocrisy.”
How lucky to have such important and accomplished luminaries to guide us, as these elite creatures from all the finest institutions.
Today was the end of the third quarter, and the paint was drying on the tape.
I think US equities are approaching another short term blow off top.
And the vulnerability of the markets to a trigger event is likely to be heightened for the next month or so at least, until some of this reckless disregard for risks becomes resolved.
Gold and silver especially had nice rallies today. I was pleased because I took new position in silver yesterday along with some gold. I don’t take trading positions in silver all that often, but it seems to have been beaten down substantially enough to demand some attention.
The smackdown in silver and gold yesterday was so obvious and heavy-handed as to remarkable.
I cannot say if they have put in a durable bottom or not. And I am not sure how they might react in the case of a major market dislocation in equities. But the antics of Wall Street are so clumsy and brazen now that only the ruling elite and its regulators could miss it— along with the other courtiers and poobahs in the employ of the moneyed interests.
Next week we will see a Non-Farm Payrolls report for September.
Need little, want less, and love more. For those who abide in love abide in God, and God in them.
Have a pleasant weekend.