Stocks And Precious Metals Charts - Polyphony And Cacophony

"When we talk about company culture in the context of financial services, the first thing that comes to mind is the risky, unethical, and sometimes criminal behavior in the banking industry, particularly during the financial crisis. And ten years on from the crisis, this behavior persists.  [Persists?It remains their very business model] Instances of fraud, money laundering, and scandals related to foreign exchange and LIBOR continue to make the headlines.

This behavior puts a spotlight on the essential role of robust regulation and strict enforcement [which is the primary responsibility of the NY Fed]. But illicit and unethical behavior is rarely the result of an isolated 'bad apple.' [or a rogue trader]It’s more often the symptom of a rotten culture. And rotten cultures don’t appear overnight—nor for that matter do positive, inclusive ones, where people feel empowered and accountable to upholding the values of the organization.

Culture is created—intentionally or otherwise—by the structures, incentives, and behavioral norms that shape our working lives."

John C Williams, President, NY Fed, Getting to the Core of Culture, 14 January 2020, London

Stocks were mixed today and the major indices finished largely unchanged to slightly weaker.

Gold and silver were hit very hard in the quiet overnight trading by the usual suspects but managed to take most of that back during regular hours and also finished largely unchanged along with the Dollar.

I think that we all see what has been going on. And some are slowly coming to their senses.

But lawlessness thrives, and there are few consequences. And so the love of most has grown cold. 

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Disclosure: Information in “The Felder Report” (TFR), including all the information on the Felder Report website, comes from independent sources believed reliable but accuracy is not ...

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