The Power Elite and the Deep State + Stocks and Precious Metals Charts

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The Power Elite and the Deep State + Stocks and Precious Metals Charts by Jesse – Jesse’s Crossroads Cafe’

“We suddenly have documentary proof that key elements of the U.S. intelligence community were trying to short-circuit the U.S. democratic process.  And that puts in a new and dark context the year-long promotion of Russia-gate.  It now appears that it was not the Russians trying to rig the outcome of the U.S. election, but leading officials of the U.S. intelligence community, shadowy characters sometimes called the Deep State…

But the main casualty is the FBI’s 18-month campaign to sabotage candidate-and-now-President Donald Trump by using the Obama administration’s Russia-gate intelligence ‘assessment,’ electronic surveillance of dubious legality, and a salacious dossier that could never pass the smell test, while at the same time using equally dubious techniques to immunize Hillary Clinton and her closest advisers from crimes that include lying to the FBI and endangering secrets.”

Ray McGovern, The FBI Hand Behind Russia-gate

Stocks were on a roll higher today, with the major indices setting new all time highs.

No one can really see what will derail this new ‘super bull’ market, as they say on financial TV.

I can think of about a dozen things off the top of my head, but all of them are relatively low probability events.  But I do think this market is a bit frothy, with underpinnings made out of meringue.

But with the lift of the corporate tax cuts coming in under earnings, I would not get in the way of these markets.

So the VIX was down, stocks were up, and all is very well in tax cut land.

The precious metals managed to eke out some small gains.

I wonder if Dandy Don is ‘mouse-trapping’ himself by hanging his hat on the stock market as validation of his presidency.   I don’t think it is a genuine validation, especially given its speculative nature..  But I wonder how he might feel if the market tosses his administration a ten to fifteen percent correction later this year.  Live by greed, die by greed.

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Jesse

NEED LITTLE - WANT LESS - LOVE MORE THE BANKS MUST BE RESTRAINED, AND THE FINANCIAL SYSTEM REFORMED, WITH BALANCE RESTORED TO THE ECONOMY, BEFORE THERE CAN BE ANY SUSTAINABLE RECOVERY. WELCOME TO JESSE'S CAFÉ AMÉRICAIN - THESE ARE PERSONAL OBSERVATIONS ABOUT THE ECONOMY AND THE MARKETS. IN PROVIDING INFORMATION, I HOPE THIS ALLOWS YOU TO MAKE YOUR OWN DECISIONS IN AN INFORMED MANNER, EVEN IF IT IS FROM LEARNING BY MY MISTAKES, WHICH ARE MANY. AS A STANDING POLICY I NEVER PROVIDE INDIVIDUAL INVESTMENT ADVICE TO ANYONE. I WILL ONLY OCCASIONALLY DISCLOSE MY PERSONAL POSITIONS FOR PURPOSES OF ILLUSTRATION. UNDERSTAND THAT MY OWN CIRCUMSTANCES COULD DIFFER GREATLY FROM YOUR OWN, AND THEREFORE WHAT IS SUITABLE FOR ME MAY NOT BE SUITABLE FOR YOU. MY COMMENTS ARE INTENDED TO BE REFLECTION ON GENERAL MACRO FINANCIAL AND ECONOMIC EVENTS AND TRENDS.