Dear CIGAs,
Do you have your gold investment position intact and free from the harm of the gold price top callers?
Jim Sinclair’s Commentary
When will they ever learn? They use a weapon of mass financial destruction, a credit default swap (CDS) OTC derivative, to rate creditworthiness.
This is madness!
Goldman Is Now A Bigger Credit Risk Than Citigroup
Jim Sinclair’s Commentary
Tanzania is a country of opportunity welcoming all.
Obama signs 4-year Patriot Act extension in France
Updated Friday, May 27, 2011 3:18 pm TWN, By Jim Abrams, AP
WASHINGTON — Congress on Thursday passed a four-year extension of post-Sept. 11 powers to search records and conduct roving wiretaps in pursuit of terrorists. Votes taken in rapid succession in the Senate and House came after lawmakers rejected attempts to temper the law enforcement powers to ensure that individual liberties are not abused.
Following the 250-153 evening vote in the House, the legislation to renew three terrorism-fighting authorities headed for the president’s signature with only hours to go before the provisions expire at midnight.
With Obama currently in France, the White House said the president would use an autopen machine that holds a pen and signs his actual signature. It is only used with proper authorization of the president. Minutes before the midnight deadline, the White House said Obama had signed the bill.
A short-term expiration would not interrupt ongoing operations but would bar the government from seeking warrants for new investigations.
Congress bumped up against the deadline mainly because of the stubborn resistance from a single senator, Republican freshman Rand Paul of Kentucky, who saw the terrorist-hunting powers as an abuse of privacy rights. Paul held up the final vote for several days while he demanded a chance to change the bill to diminish the government’s ability to monitor individual actions. The bill passed the Senate 72-23.
Jim Sinclair’s Commentary
OTC derivative hell revealed. The Lobbyists will be wild.
Can you imagine? Demanding margin (collateral) from a Bankster run entity, government or otherwise?
How dare you, I’m a sovereign
Posted by Izabella Kaminska on May 27 18:18.
Don’t mess with a non-US sovereign. They still have the power, even if they have deficits.
Risk reported reported in April that US regulators were proposing to make collateral-posting for sovereigns compulsory.
Until now, most had usually — due to a low-risk perception — been able to conduct market and investment operations without a need to post any sort of collateral at all.
But as Risk explained, US regulators had got increasingly jittery about the exception and wanted to reverse it, especially when it came to bilateral derivative trades:
All non-US sovereigns would be asked to start posting collateral on bilateral derivatives trades with US counterparties, under a new joint proposal from five US regulators – a radical attempt to change the status quo for sovereign derivatives users, many of which currently refuse to post collateral, despite the funding and capital costs this creates for dealers.
