- The most powerful weapon to conquer the devil is humility. As he does not know at all how to employ it, neither does he know how to defend himself from it.
- Saint Vincent de Paul
The US had streaks of humility and periods of ego. The pendulum is making the devil smile as the military has a strong grip on our government. We are not alone. North Korea and Russia embody the word. Netanyahu has Israel deep in ego with the false flag of doing whatever it takes to defend itself. They do have hope. A moderate leader has emerged. Yair Golan will work for peace. He has the rightful concerns for security for Israel. Peace is a two-way street. Palestine, if given recogition as a free state, must arrest any zealot against Israel. If they want to live, they must also let live. This is the way towards peace and end the reign of the devil.
Other Devils
The consumer is using a debt vehicle in shadow banking. Firms like Pay Pal have a plan for the consumer to "buy now and pay later." Interest payments are high and consumers using this loan are falling behind. Data is not accurate or known. It is only estimated. The figure of $50 billion is thrown around. If correct, that translates to one in three US households. We, at Evolution fear an unpleasant surprise is coming.
Enter the Fed
The Fed watches the above loans as well as all debt liabilities. Quietly, they have pushed our too big to fail banking institutions to process a "Living Will." If an unpleasant surprise happens to one of these firms, they must have a plan whereby their assets and liabilities will be "moved along." The Fed just reviewed the banks plan and they are unhappy. More news will be forthcoming. Negative commercial loans and derivatives could be causing a serious problem behind closed doors.
Speaking of which...
it must be nice to have in your banking firm a partner, Beth Hammock who is about to leave to take a position in the Fed. The corruption of big banks like Goldman Sachs has been going on for over 100 years. Of course, the poster child is JP Morgan Chase.
Meanwhile...
summer trading is in effect. That means there will be low volume on Monday and Friday. The market is showing signs that the Bulls have no more juice. Techs are retracing. We get a more definite indicator with King Dollar. It is rising. Last Friday it closed at 105.44. It is in its higher range. Commodities and the market do not like a strong dollar. It appears to want to test its last high at 107. If it does, look out below. With the national holiday approaching, we expect the change in direction after the Fourth.
During this interlude, be aware that the etf, XLK will reassess Apple and Nvidia. They will sell a lot of Apple and buy a lot of Nvidia. This well make some volatility. Then of course, this is campaign time...
"Yellen" Yellen
She is using her pulpit position to campaign for Biden. We got a laugh out of her latest rant. She says, "Biden is seeking to address the area of inflation." She goes on to admit this has been a problem, especially in healthcare costs, energy costs and housing costs. Can you see the irony in this past Fed Chief? Two of the three concerns are not included in the matrix formula of the Fed. Ha! Ha!
Sadly, the joke fades and this reality comes to the forefront. Deficit spending by both political parties and candidates is so bad that at the present rate, the US will reach a point in the 2034 budget that the interest alone will exceed the whole budget of 2006. Try not to ponder that too long. It will give room for the devil. So, I say in humility, peace.
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