You read it here first: Gold slumps by $28

Today, gold lost 1.4% of its alleged ‘value’ in a single session, while oil rallied. Neither event was remotely natural. The law of supply and demand has been abolished to suit the greedy 3%.

Yesterday, I posted this on the subject of the gold “price”:

‘You may have noticed the price of gold dive from $1281 to $1267 this morning. New York opened and steadied it a little, and now it’s at a level in the $1270-80 range. Looked at in the context of the 2 years graph, this has been a decent rally, but nothing more. The price destruction continues, and the knack remains knowing when the central banks decide enough is enough.’

Today, in the daylight hours of CET, the gold price plunged to $1257. This time there’s been no NYSE rally as yet, and we’re two hours into the US session. In the context of what is (behind the spin) a global depression, such a move is completely counter-intuitive. As indeed is a three-day rally in the oil price – with Brent crude now back up to $56. You will perhaps note the absence this week of State Department drivel about Putin’s regime being “on the verge of collapse”.

But then, the oil-price rise isn’t bonkers looked at in the context of geopolitical manipulation: the only madness here was oil being oversold to the extent it was. And as is entirely evident, there was very obvious method in that madness. The European weather is also, at the minute, uncommonly cold….so Putin’s pipeline diversion means West Europeans must pay more.

Bloggers like myself are constantly searching for new ways to encapsulate the neoliberal/globalist/media scam which avers “Levitation is not just a Possibility but a Reality”. We’ve been through the Unsinkable Titanic, one spark required on the Hindenburg, IABATO (It’s all Bollocks and that’s Official), denialism, Trains coming off rails and heading for cliffs, Tsunamis of debt, and the Goebbels assertion that “if you’re gonna tell a lie, tell a big one”. But ultimately, I find myself returning to this simple Truth: the MoUs want us to believe that Page One of the handbook doesn’t exist.

It’s getting so silly now that one could extend this observation further and suggest that we are being asked to disbelieve the first immutable law of business: that of supply and demand.

Left to itself, every market – be it the sun-dried prune niche or the mass car market – obeys these simple rules within S&D theory: when supply is short and demand is high, prices rise; and when supply is infinite and demand suppressed (for whatever reason) prices fall. Is it possible, I wonder, to overestimate the hilarious irony of neoliberal ‘free marketeers’ tampering to such a degree in the price of currencies, safe havens, commodities and Libor rates?

There is no limit at all to where we could go with this…just so long as enough folks are asleep, or drooling over icons like Paris Hilton and Simon Cowell. We’ve got to here because of central government failures in providing education that encourages kids to think for themselves – rather than about nothing beyond narcissistic daydreams of fame, material wealth and self-indulgence.

None of this is a conspiracy: it is sheer incompetence alongside a one-size-fits-all obsession with ruling on a national or supra-national scale. Throughout Europe, not only has the Superstate been consistently rejected in both East and West, the trend now is to regional devolution. The revolution we need won’t be complete until we are at a level of communal power and inter-communal cooperation that restores the individual’s sense of responsibility.

The neoliberal agenda insists that our species success is solely down to bare-knuckle competition. It is not: rather, it has been a never-ending attempt to marry cooperation and competition – with compassion as the Maid of Honour.

Earlier at The Slog: Agitprop is alive & well & misleading in contemporary debate