The further markets become detached from reality, the greater the need for distraction. Justice is displaced by a rash of propaganda. The methods may be absurd, but they are effective.
Over the summer, the big news in the world of silver has been the official end to the old (London fix) and the beginning of the new (electronic) fixing.
It has been a very slow and uneventful beginning to say the least. Confusion over who would ultimately participate culminated in a great distraction from what truly ails price discovery in the silver market.
The London fix was archaic.
It was an obscure old men's pricing club that became obsolete as the COMEX came to full fruition under guidance of the CME.
COMEX remains the real center of corruption. From New York - via Washington, D.C. Essentially, the fix narrative forms a layer of protection around the COMEX and CME. These are the two entities that no one will touch outside of the blog fringe.
It's like all serious discussions involving economic indicators. Without acknowledging that the measuring stick is broken, there really isn't anything to discuss.
Of course, this bleeds all the way through to the dollar.
Will the real market ever stand up? Or crash hard enough to break the chains of big finance?
Intervention makes these markets. The majority either doesn’t know or don't care.
A minority feeds off whatever comes out. Like pigs to the trough, they will eat anything.
Most of the commentary, discussion, and advice trickle down from these pigs.
Pundits hail recovery with a straight face.
Recovery “oranges” are compared with rotten “apples” of CPI.
The next crisis will be a complete surprise to all because few have anything to lose. And most couldn't see it in the charts, after the flash crash.
This is despite the geometric, blatant, and historic amount of monetary expansion taking place now and over the last few decades.
Even those who acknowledge - as a warning - the massive creation of our currency nothing have not collectively sought the safety of hard assets (and precious metals in particular).
Alas, the fix mattered very little; it was an obscure back room mechanism that exemplified everything that is currently wrong with a financial system out of control and with two tiers of justice.
CME and COMEX are where the main action is; they have simply absorbed the old fix.
And everything will seem fixed for now. Traders will cheer the new gospel.
The great irony is that it's all electronic now, making it theoretically easier to manage and perhaps more obscure.
Once these lies reflect perfectly in the culture, the chance of any orderly return to reality is long passed. For the few who choose to walk in the reality, the burden of loss fades.