Jim Sinclair’s Commentary

Stratfor outlines three lousy choices for the military of Egypt. Any one of these will serve to increase tensions.

There are 10 countries with similar problems. Saudi Arabia is not exempt.

"This now creates a massive crisis for the Egyptian military. Its goal is not to save Mubarak but to save the regime founded by Gamal Abdel Nasser. We are now less than six hours from dawn in Cairo. The military faces three choices. The first is to stand back, allow the crowds to swell and likely march to the presidential palace and perhaps enter the grounds. The second choice is to move troops and armor into position to block more demonstrators from entering Tahrir Square and keep those in the square in place. The third is to stage a coup and overthrow Mubarak."

 

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Jim Sinclair’s Commentary

Omar Sulieman is the head of the Egyptian Intelligence Service.

Egypt is the place that captured insurgents in Iraq were sent to be tortured. Therefore Omar’s hands are the undercurrent that accepted them.

Financial TV is reporting this as a success. The Brotherhood does not want Omar.

There is much more to come.

 

Jim Sinclair’s Commentary

The supply of US Treasuries increases at a time when QE has been the only swing buyer.

The final Pillar of Gold at $1650 is in.

Jim Sinclair’s Commentary

You have to have a Gold dog regardless of what Martin says.

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Jim Sinclair’s Commentary

When you sell your liberty for supposed protection this is what you get, Nazis.

Ontario Woman Sues Over Strip-Search At Ambassador Bridge
February 10, 2011 1:01 AM

DETROIT (WWJ) –  An angry and embarrassed Ontario woman who says she was strip-searched at the Ambassador Bridge without justification has sued two U.S. Customs and Border Protection agents.

The Detroit Free Press says Loretta Van Beek of Stratford filed the suit in Detroit federal court against the unnamed agents. She says she was en route to her Georgia vacation home last March when one agent strip-searched and groped her while the other one watched.

Van Beek says she was detained for two hours, then sent to a windowless cell and ordered to strip because she neglected to disclose she had raspberries in her vehicle.

The lawsuit claims one agent aggressively groped her breasts and genital area while the other watched. Van Beek says she was then photographed and fingerprinted and sent back to Canada.

Attorney S. Thomas Wienner of Rochester tells the Free Press the experience traumatized Van Beek and “She’s concerned she might not be the only victim.”

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Jim Sinclair’s Commentary

There is a number whereby Martin Armstrong’s reaction is nullified. Many people in finance read him but will not admit it.

His second before last missive has contributed to the reaction we have experienced.

There is no way I will say the price because why should we give the opposition more ammunition?

 

Jim Sinclair’s Commentary

This is the birth of a durable democracy? You have to be kidding.

Omar Suleiman warns of coup as tension rises between Egyptian demonstrators, army
Protesters occupy new territory near the Egyptian parliament building, sparking a temporary confrontation with troops. Vice President Omar Suleiman warns of tougher measures to prevent a possible coup.
By Timothy M. Phelps and Kim Murphy, Los Angeles Times
February 10, 2011

Egypt’s government and protesters edged closer to violent confrontation Wednesday as demonstrators escalated their tactics and the vice president warned of a coup if the unrest continued, saying protests must end or "the dark bats of the night" would emerge to terrorize the nation.

Labor unrest continued in the nation for a second day, threatening to merge the political goals of the opposition with the more focused economic issues that have long plagued Egypt.

And violence spread to a normally peaceful desert oasis 500 miles southwest of Cairo, where police killed four people.

Protesters in central Cairo’s Tahrir Square, reenergized by a massive crowd Tuesday after turnout began to flag on Monday, promised the biggest demonstrations yet on Friday, this time nationwide as well as in multiple locations in Cairo. On Wednesday, they defied the Egyptian army by occupying the street in front of the parliament building, creating a second front in downtown Cairo.

Egyptian Vice President Omar Suleiman, in comments to Egyptian newspaper editors published Wednesday, warned sharply that the demonstrations could not continue. Suleiman, who until now has presented himself as a soft-spoken voice of reason in discussions with opposition leaders, sounded rattled as he warned of tougher measures.

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Jim Sinclair’s Commentary

Israel supports democracy with one present exception – Egypt. What do they know that the Western world media and financial TV missed?

How Egypt resolves itself is the singular most important fundamental in the political and economic world today.

Egypt is more important than Afghanistan, Pakistan, Iran and Iraq at this moment in time.

Israel urges U.S. to reaffirm support in light of Egypt unrest
U.S. officials meeting Barak stress administration’s ‘unshakeable’ commitment; Israeli envoy: Foreign aid to Israel can’t be taken for granted.
By Natasha Mozgovaya

Defense Minister Ehud Barak on Wednesday stressed the importance of U.S. support for Israeli security in light of the political unrest in Egypt, while Ambassador Michael Oren urged the Obama administration to reaffirm its commitment to that regard.

Barak met with Secretary of State Hillary Clinton, Secretary of Defense Robert Gates and National Security Advisor Tom Donilon at the White House on Wednesday evening,  to discuss the tense situation in Egypt.

The White House press office said the meeting dealt with “the need to move forward on Middle East peace, our efforts to prevent Iran from acquiring nuclear weapons, and other regional and bilateral issues.”

The U.S. officials stressed their country’s “unshakeable commitment to Israel’s security, including through our continued support for Israel’s military, and the unprecedented security cooperation between our two governments,” the White House said in its statement.

Barak’s spokesman characterized the meeting as “excellent”.

Israel envoy Oren later Wednesday conveyed a similar message when he urged the administration to reaffirm its commitment to Israel, in an address to the Congressional Israel Allies Сaucus reception on Capitol Hill.

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Jim Sinclair’s Commentary

A military coup can’t supply food at reasonable prices and jobs for the Egyptian unemployed.

Yes, but only if they draft the entire population.

This is no road to a sustainable democracy as the media would have us believe. Why anyone believes the media today is baffling to me.

Egypt’s Army Signals Transfer of Power
By ANTHONY SHADID AND DAVID D. KIRKPATRICK
Published: February 10, 2011

CAIRO — The command of Egypt’s military stepped forward Thursday in an attempt to end a three-week-old uprising, declaring on state television it would take measures “to maintain the homeland and the achievements and the aspirations of the great people of Egypt” and meet the demands of the protesters. The development appeared to herald the end of President Hosni Mubarak’s 30-year rule.

Several military leaders and officials in Mr. Mubarak’s government indicated that the president intended to step down on Thursday. Some reports said he aimed to pass authority to his hand-picked vice president, Omar Suleiman, but what role Mr. Suleiman would play in a military government, if any, remained uncertain.

In testimony before the House Intelligence Committee, C.I.A. Director Leon E. Panetta said that there was a “strong likelihood” that Mr. Mubarak would step down by the end of the day. State television said Mr. Mubarak will appear tonight with an announcement.

The character of the military’s intervention and the shape of a new Egyptian government remained uncertain. A flurry of reports on state media on Thursday indicated a degree of confusion — or competing claims — about what kind of shift was underway, raising the possibility that a competing forces did not necessarily see the power transfer the same way.

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Jim Sinclair’s Commentary

Few, other than here, thought that China could do it. Few, other than here, thought India would do it.

Joseph Kahama is writing a new book – "Boom, Insights and Visions into Economic Opportunities in the African Bull Market." Africa is the best of opportunities for continued growth over the next many years.

Africa’s share of mine deals triples
February 9 2011 at 05:19pm

Africa’s share of global mining deal flows tripled from 5% in 2009 to 15% in 2010, according to a report released on Wednesday by Ernst & Young.

The bulk of these deals was inbound and showed a significant growth in volume, signifying the increased interest of the rest of the world in Africa.

“In one major deal, Rio Tinto offered US$3.9 billion to buy Mozambican coal miner Riversdale, while Xstrata is paying US$513 million for Sphere Minerals, with the goal of gaining three iron ore projects in Mauritania,” said Adrian Macartney, mining sector leader for Africa at Ernst & Young.

“When one takes into account the increasing interest in Africa’s mining sector from companies in China, India, Brazil and Russia, it is easy to see why the future looks rosy,” added Macartney.

When it was suggested a year ago that Africa’s economic recovery was on track, many thought this premature. However, a quick look at current figures shows that there can be little doubt that the continent is definitely “open for business”.

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Jim Sinclair’s Commentary

This is easy. China only needs one ounce to accomplish this.

China may increase gold reserves beyond ‘Fort Knox’ level – Hale
By: Martin Creamer

CAPE TOWN (miningweekly.com) – China’s central bank is being advised to increase its gold holdings nearly tenfold to a level greater than the world’s biggest bullion depository, the US’s "Fort Knox".

Global economist David Hale, who addressed the packed Mining Indaba in Cape Town attended by a record 5 700 people, says that China’s gold reserves are currently at 1 050 t – only $30-billion to $40-billion compared with the country’s total assets of $2,8-trillion.

Various officials in China have proposed the central bank should increase its gold reserves to 10 000 t, which would give China larger gold reserves than Fort Knox.

“This would be a huge development for the gold market,” he says, with global mining output of gold only at 2 500 t a year.

“China will probably start to buy gold in the near future, but they won’t report it for two or three years,” Hale says.

When China announced new gold reserves from 600 t to 1 050 t in April 2009, purchsing had been done in the preceding years..

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