Stocks were on a tear today, on the reduced perception of risk in the recent budget deal between the two US parties at the higher levels, and the news out around 2 PM that trade talks with China are 'back on.'

I do believe that US stocks are heading to another blow-off top. Timing such a thing is always problematic, and it is not good to try and front-run such a thing. One only ends up exhausting themselves, their resolve and their capital.

Gold took another shot today. In part, it is because of the continuing strength in the Dollar, or perhaps better stated, the intentional weakening in the Euro, which is by far its major trading cross currency.

But silver held in quite well. Silver is not traded so much as a currency but is generally at least a 50% industrial commodity. 

But perhaps more importantly gold is heading into its August contract option expiration, and the reports show that speculators are very long the contract, and the Banks are quite short, with a very large open interest.

So we may most likely continue to see antics in the price of gold, including the days after as the Banks continue to try and knock down the weaker hands in the speculative longs.

I wish that I could believe that almost all people are basically good and rational most of the time and that it is only some unfortunate error in judgment, some quirk in human psychology, that causes them to not just tolerate but to wholeheartedly embrace genuine evil. 

I think at various times more people than we might care to admit can fall into a persistent and stubborn tendency to give themselves over to what in retrospect might be objectively called evil.

These modern psychological fallacies are often convenient ways used to enable and excuse what can only be described as a lack of empathy for others. Such a pathological lack of compassion is commonly born in an overwhelming self-absorption and greed. They seek to gain the world for their own sake, for themselves.

In pursuing themselves as the greatest good, they make a conscious decision to dehumanize themselves. They choose to discard what they perceive to be a source of weakness and pain and an insult to their pride in being exceptional. They seek redemption in themselves and the power of the herd.

They allow themselves to become beasts, not all at once, but by one by one decision at a time. They finally give themselves over to an imbalance so great as to be madness. And in choosing themselves and the power of the beast they lose themselves and, if you will, their souls.

Non-serviam. And the madness will serve none but itself.

We tend to look back on history, as an interesting story, but that we stand apart from it. We are different, and unlike those who have gone before.

And when it comes to stories of good and evil, well, those are quaint notions for some, but certainly not for us. Our insulation is our pride, and nihilism, and believe in the indifference nothingness, without any particular interest or judgment.

Have a pleasant evening.

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)