by Andy Hoffman, MilesFranklin.com:
Just two days from a “debt ceiling breach,” I recall one of the first pieces I wrote upon joining Miles Franklin two years ago. With the “Teflon Dow” now subject to the same government algorithms that have been suppressing PAPER PM prices – and thus, unable to experience significant declines or volatility; it occurred to me TPTB are attempting to create a “Philosopher’s Stone” for the financial markets.
The Philosopher’s Stone was said to have the ability to turn lead to gold; i.e., an allegory for bankers’ current attempts to turn PAPER PMs into PHYSICAL metal. And, for that matter, stock indices that historically represented economic expectations to “digital financial weapons” programmed to rise in value, no matter the circumstances. In other words, a form of modern “alchemy”- in which the Philosopher’s Stone is a combination of derivatives, government intervention, and illegal, but unregulated trading practices. Somehow, TPTB believes that, by influencing market prices, they can change the laws of “Economic Mother Nature.” Or, in the case of Precious Metals, delete a 5,000-year history of monetary superiority.
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