"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat

Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput


Friday, June 6, 2014

D Day - 70 year Anniversary

Many us of tend to get so engrossed in the markets that we often forget or are distracted to the point of forgetting, that the reason we are able to sit in comfort in front of a computer screen or engage in arguments over the Internet, without fear of the government knocking down our doors, etc., because brave men, paid the ultimate price to secure our liberty for us.

Such was indeed the case, 70 years ago to this very day, when American and Allied troops waded ashore in the face of a wall of lead and explosions, on the beaches of Normandy, France. Every single time I read their stories and about the events of that day, I am moved by their courage, their dedication and their honor and bravery.

I try to think what it must have been like to approach a beach in those landing crafts, knowing full well that the moment that ramp goes down, you are exposed to enemy gunfire which is not going to end unless you can somehow reach that enemy and silence him before he silences you. Amazing, amazing bravery.

Thank you.



  1. Amen, brother.

    All you have to do is watch "Saving Private Ryan" to get a grip on what that day was like.

    1. yes, and it was "only" a movie, so imagine the real thing... :(

  2. Well, its now official.

    It's undisputable and not subject to debate any longer.

    Printing money in unlimited quantities is the perfect elixer to boost stock prices and increase household wealth, without ever needing to worry about inflation or higher interest rates.

    In fact, as shown today, printing faster and faster actually causes gold prices to fall and commodity prices in general follow suit.

    Rising interest rates will no longer be an issue, as long as Draghi, Uncle Abe, and Janet continue to put their foot on the gas and print faster and faster.

    Inflation is no longer an issue, as long as the Fed heads have the "Jawbone" at the ready in order to spook the Algos to dump commodities and cause an instant bear market in the CRB Index.

    We are now living in financial "nirvana", whereby all problems can be easily conquered by one or more central bankers.

  3. Yes! Merci à tous les vétérans!

  4. KWN: "This Will End in Disaster"

    It already has.

    In the mining sector, especially gold, silver, and coal.

    Those who were overweight those groups have seen their net worths decimated.

    Wonder how much longer those guys will continue sitting around in a circle talking about gloom and doom amongst themselves.

    What will get them to stop?

    Dow 18,000?

    Gold $1,000?

    Nasdaq 5000 +??

    Just wondering.

  5. Well more proof that the consumer is stronger than ever.

    And that the TBTF banks are in no danger of failing anytime soon.

    Check out the charts of COF, DFS, and AXP, all these giant credit card lenders are exploding to new, lifetime highs.

    1. We both know this sonofabitch is gonna end in tears. California Chrome is the play tomorrow, so everybody have a great weekend!

  6. Nice to see we stayed with the message on D day and did not launch back into meaningless money making talk!!!!!

    Wow what is this world coming to. So much me me me and sod everyone else. Thank you Dan for remembering this important day.

    By the way I think we should say American, British and Candian forces as they were the vast majority.

    The facts are that the plan for Operation Overlord -- as D-Day was codenamed -- was largely that of Gen. Bernard Montgomery, the land force commander.

    The Royal Navy had overall responsibility for Operation Neptune, the naval plan. Of the 1,213 warships involved, 200 were American and 892 were British; of the 4,126 landing craft involved, 805 were American and 3,261 were British. two-thirds of the 12,000 aircraft involved were also British, as were two-thirds of those that landed in occupied FranceOn D-Day.

    The Allies landed around 156,000 troops in Normandy. The American forces landed numbered 73,000: 23,250 on Utah Beach, 34,250 on Omaha Beach, and 15,500 airborne troops. In the British and Canadian sector, 83,115 troops were landed (61,715 of them British): 24,970 on Gold Beach, 21,400 on Juno Beach, 28,845 on Sword Beach, and 7900 airborne troops.

    1. This comment has been removed by the author.

    2. Luckily 75% of the german army, and most its veterans, were busy fighting the russians at the eastern front.
      Stalingrad alone : 300.000 dead both sides.
      French resistance at the time : 200.000 men (the battle of the rail).
      Let's thank the courage of everyone who thought there those days, no matter their numbers or their flag.
      Not to forget german resistance, by the way.

  7. World record closing highs in the S & P 500 and breakout in the DJIA confirmed by the Transports.

    Russell 2000 rapidly catching up, as Investor's Business Daily reported last week that the ratio of "small cap growth" vs. "big cap growth" was the lowest in 12 months.

    Gold holders continue to suffer a "bail-in" seeing many mining stocks sink to the lowest in 2 1/2 years.

    Platinum continues to outperform due to the extraordinary strength of the automobile sector.

    Bugs and the GATA boys watching in horror as U.S. common stocks, corporate bonds, leveraged loans, and junk bonds hit all time record highs.

    A lifetime opportunity missed.

  8. Churchill said it best. "Never have so many owed so much to so few"


  9. Operation Overlord & Neptune - a documentary worth watching for those interested in D-Day...



Note: Only a member of this blog may post a comment.