When in Doubt Listen to the Equity Markets

Monthly Market Commentary: May 1, 2018

On March 16, 2018, the 50th anniversary of My Lai took place. Christopher J. Levesque wrote a captivating account what really happened at My Lai under the title, Vietnam 1967: The Truth Behind My Lai. According to Levesque, "Operating under the assumption that villagers of My Lai would be away at the market, Captain Medina planned an aggressive sweep through the area, ordering his men to destroy everything and to kill anyone who resisted. By the end of the day American forces had killed 347 to 504 unarmed Vietnamese women, children and old men, and raped 20 women and girls, some as young as 10 years old."

A massive cover up followed but the events at My Lai became public a year later. Several officers were brought to trial in 1971, but only one Lieutenant was convicted.

The exposure of the My Lai massacre helped to tip popular opinion against the US involvement in Indochina, which ended with the defeat of the US armed forces on April 30, 1975.            

The misuse of information, staging false flags, outright lies, deception and fakery in allegiance to truth (Henry Luce) is nothing new and my readers need to be prepared to live with these unfortunate and immoral conditions because invariably they will worsen even more once economic, social and political conditions deteriorate further, which will inevitably occur shortly.           

Based on the recent market action of stocks around the world and in particular in the US, I am growing increasingly confident that the January 26, 2018 high at 2,872 for the S&P 500 was a major top indeed.  

I hope my readers will remember in the context of misusing information and fakery in allegiance to truth the words of Mahatma Gandhi who wrote that,

"Truth resides in every human heart, and one has to search for it there, and to be guided by truth as one sees it. But no one has a right to coerce others to act according to his own view of truth."

Kind regards
Yours sincerely
Marc Faber

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