Stocks and Precious Metals Charts – We Inflate Assets and Crush People

from Jesse’s Café Américain:

“Legitimate power always includes attentiveness to justice, When power is not attentive to justice it cannot endure. This is a summons to us to keep the agenda of justice for the vulnerable alive and front and center to maintain a kind of subversive stance toward power.

The market ideology is now the new form of imperial power and many of us, without any critical reflection, have signed onto that and organized our lives in that way…”

Walter Brueggemann

“In the eyes of the empire builders men are not men, but instruments.”

Napoleon Bonaparte

As a reminder there will be an option expiration for the precious metals on the Comex tomorrow.

The Fed’s minutes were released today. They showed a bias to raising rates in June if the recent economic weakness proved to be transitory.

The question of the Fed’s changing their benchmark interest rate is probably a little less significant than the question of what they will be doing with their enormous Balance Sheet. Currently they are rolling the instruments over, but will likely be looking to start capping those renewals of the current holdings.

Removing items from the balance sheet has a less predictable impact on financial assets as compared to interest rates which is easier to hedge.

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