“Once completely freed, the bankers very quickly ran their institutions off the cliff, taking much of the global economy with them. Not only did they create and sell a huge amount of junk, but they turned the financial system into a gigantic casino, one in which they played mainly with other people’s money.
Both parties make a public show of how bitter their conflicts are, and how dangerous it would be for the other party to achieve power, while both prostitute themselves to the financial sector, powerful industries, and the wealthy.”
Charles H. Ferguson
And they are hard at work running that same playbook once again.
Why not? It pays well, and there are little to no personal consequences.
Congress is to busy trying to nickel and dime the unemployed so they don't become lazy, and the Fed is a faithful servant to its owners and masters.
Stocks continued to correct, although big cap tech was able to haul itself up off the lows in the last hours of quiet trading.
Let's see how things proceed next week.
The bulls may not be ready yet to throw in the towel.
Gold and especially silver put in a stellar performance this week.
The dollar continued to slide.
On the close gold was hanging on to the 1900 level, and silver at 23.
It seems as though there has been some heavy building in the related stock market options.
I will not be at all surprised if the bullion banks don't give the punters a stiff gut check next week.
Depending on where gold and silver end up this *could* be a constructive measure to firm up the base with stronger hands.
Geopolitical risks remain elevated.
Domestically, the pampered princes and princesses of the Congress and White House continue dither away every opportunity to truly heal the economy, for the sake of their Big Money masters.
The Banks are truly the heart of darkness.
Have a pleasant weekend.
