Captain's Quarters

[JD400]

Winds and Whirlwinds - Quad Witch Option Expiration

“It has always been the habit of privileged groups to deny the oppressed classes every opportunity for the cultivation of innate capacities and then to accuse them of lacking what they have been denied the right to acquire...

A laissez-faire economic theory is maintained in an industrial era through the ignorant belief that the general welfare is best served by placing the least possible political restraints upon economic activity.

The history of the past hundred years is a refutation of the theory; but it is still maintained, or is dying a too lingering death."

Reinhold Niebuhr, Moral Man and Immoral Society, 1932


It never really gets old, does it? Evil that is. It just keeps coming back, with different names and faces. But the basic proposition remains surprisingly simple and the same. You cheat, you win, you cash in, and there are no consequences.

Today was a quadruple stock option expiration in US markets.

Stocks were initially smacked lower, but gradually regained most of their losses into the close.

Gold and silver were utterly hammered by the dumping of large numbers of contracts in their futures markets, with a fairly clear intent to drive the prices lower, breaking out of their recent trading range.

The US dollar did not do much. The Chinese Yuan did gain some in value against the Dollar.

Why did these things happen?

Today was a quadruple stock option expiration in US markets.

Those who were playing leverage on leverage, that is, playing positions using stock options on mining companies or even paper gold pools were most likely feeling a bit put off.

Perhaps a stance supporting little to no regulation in the markets and in life in general might be reconsidered when one sees the abuses to which powerful insiders, aka 'market forces,' may engage. Some might say that history shows that this is the very reason why men and women combine to create a least some semblance of the rule of law, and not the rule of money and power.

Apparently a small group of civic minded citizens named Kushner, Giuliani, and Mnuchin are urging Trumpolini to grant a presidential pardon to the disgraced junk bond king, Michael Milken, patron of the Gordon Gekko generation.

How come? Is he not completely free now, and living very well, an influential public figure, excepting he is prohibited from re-involving himself in public markets as a part of his plea deal? He was guilty and judged not particularly harshly. What is the purpose of such a pardon now?

Perhaps this blot on one the record of one of the well-connected is a reminder of a barbaric past when the law meant something for the professional class. Bad example and all that.

Today was a quad witch option expiration in US markets.

Are you not entertained?

Need little, want less, love more. For those who abide in love abide in God, and God in them.

Have a pleasant weekend.

MMgys

Friday Night Spot Light Grind

Howdy everybody

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