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Stocks came in on the sell side this morning, with a fairly significant gap down.

The downgrade of US sovereign debt by Moody's was the cause.

But miracle of miracles, stocks managed to finish the day in the green, affirming the big, beautiful economy that we enjoy.

Gold came in hot over night, but was fairly firmly capped in NY trading hours.

Silver did not do much, being even more tightly capped.

The Dollar lost the 101 handle but managed to retain a firm hold on 100.

VIX came in high but then fell back below the 200 DMA. 

See, all is well.

These attempts to erect a Potemkin economy result in a great deal of misallocation of risk, and are ultimately very damaging to those not in on the scheme. 

But at the end of the day, there is only one scheme, one great deception that really matters.

Do not allow the hatred, the anger, the forces of darkness gain a hold in your hearts, even for the best of reasons, and your 'righteous anger.'

Have a pleasant evening.

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