Podcast EP 69 Empty Castles (Oct 13)

33 Liberty Street (NY Federal Reserve Building)From their website…The 22-floor, limestone and sandstone headquarters of the Federal Reserve Bank of New York contrasts sharply with the neighboring steel and glass skyscrapers of the Manhattan’s downtown financial district.Architecturally, the building is reminiscent of the Italian Renaissance period, featuring a robust palazzo design recalling the appearance of Florentine banking houses and elements of Florentine palazzos such as the Strozzi Palace and the Palazzo Vecchio.The Bank’s 20th century American designers, like their 15th century Italian predecessors, sought a structural expression of strength, stability and security. These planners intended to inspire public confidence in the recently formed Federal Reserve System through the architecture.Another example of empty castles and skulls comes from a post by Paul Krugman. He says if you take out food, energy, shelter and cars, that there is no inflation. Lol. It is like saying 1+1+1-3=3 *if you don't count the 3? And this man has won a Pulitzer prize for economics!This is how math works at the top of the pryamid to keep boots on our necks.https://twitter.com/paulkrugman/status/1712494317024026761Podcast Available onSpotify | Apple Podcast | Amazon MusicFollow on Substack NotesReferral Program for existing Subscribers* When you use the “Refer a friend” link below or the “Share” button on any post, you’ll get credit for any new subscribers. Here is the link you can copy and paste into any email, text or social media platform:“https://nyugrad.substack.com?r=1ec55c”* Once I launch a paywall, your referral credits earned will be retroactive immediatelyShow NotesSummary of the day and weekFriday the 13th Delivered! So much to cover today. I warned this morning that something smelled fishy and only the magnificent 7 were green while breadth was very weak. I then checked the equal weight Nasdaq and it was testing the 50 day ma already. While the equal weight S&P had not even reached it’s 50 day. Then I looked at VIX and saw it was rallying hard despite the market being fairly flat and the bullish earnings reports of JPM, C, WFC and BLK. Here is the actual Substack note: Breadth* 66 new highs* 502 new lows (7.6 x times!)* 34% advancing 60% declining* 79% below 50 day ma* 70% below 200 day maStuck outThe VIX exploded higher 15% today disproportionately to the selloff. You would think the Dow was down 1,000 points. At one point the VIX was up over 20%.StrongGoldVolatilityWeakWhat to watchWatch mag 7 Watch EnergyWatch yields Geopolitical Risk and new confrontationsEconomic datahttps://www.marketwatch.com/economy-politics/calendar Financial Freedom is not free, but the pursuit is worth the treasure. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.notyouradvisor.com/subscribe