I would like to say that today was something different, but it was not.

It was more of the same old wash and rinse, on an economy-sized scale (pun), designed to benefit a relatively few insiders at the expense of all the rest.

Fed Chair Powell came out and laid on a heavy tone of hawkish, and the 'rally' from yesterday went into a meltdown, tout de suite.

The public and real economy must once again pay the price for the sins of the Banks and their bubbles.

Everything was down in the risk assets, improperly priced as they were from the rally just yesterday. 

What a coincidence.

Gold and silver took a hit.

The Dollar rose on the rise in short-term interest rates.

Many of the miners were clocked, although some bounced back a little at the end.

September could be a dangerous month for the markets as I have cautioned previously.

The bulls need to take out the second high on the Crashtrak model.  

Today they were going in the wrong direction.

There are some benefits to staying on the higher ground.

Have a pleasant weekend.

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