In The News Today

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Jim Sinclair’s Commentary

You want shocking change? This US turndown in business will bring on QE to infinity sooner that anyone anticipates.

Consider the Golden Dawn political party in Greece originally expected to draw about 3% of the vote. It now appears to have gone above 8%.

Austerity runs politicians out of office in the election following the austerity initiative, and can bring in some strange replacements as did the Weimar situation.

This US downturn in business will bring on QE to infinity, which is debt monetization on steroids.

Golden Dawn (Greece)
From Wikipedia, the free encyclopedia

Golden Dawn (Greek: Χρυσή Αυγή, Chrysi Avyi, Greek pronunciation: [xriˈsi avˈʝi]) is a Greek nationalist far-right political organization founded in 1993, and led by Nikolaos Michaloliakos.

Golden Dawn temporarily ceased political operations in 2005, and was absorbed by the Patriotic Alliance. The Alliance in turn ceased operations after Michaloliakos withdrew support. In March 2007, Golden Dawn held its sixth congress, where Party officials announced the resumption of their political activism. At local elections on November 7, 2010 Golden Dawn got 5.3% of the vote in the municipality of Athens, winning a seat at the City Council. In some neighbourhoods with big immigrant communities it even reached 20%.[8] In the general elections held on 6 May 2012, exit polls showed Golden Dawn polling between 5 and 8 percent of the vote, enough to enter parliament for the first time.[9]

Golden Dawn described itself as a "People’s Nationalist Movement" and "uncompromising Nationalists."[10] Michaloliakos described Golden Dawn as opposing the "so-called Enlightenment" and the Industrial Revolution.[10][11] According to the Party’s charter, "only Aryans in blood and Greeks in descent can be candidate members of Golden Dawn".[11] The charter also puts the leader in total control of the party, and formalizes the use of the Hitlergruss for party members.[11] At first, the party embraced neo-Pagan beliefs, in accordance to Nazi occultism, describing Marxism and liberalism as "the ideological carriers of Judeo-Christianity."[12][Third-party source needed] Later, however, the party underwent ideological changes, embracing Eastern Orthodox Christianity.[13]

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Jim Sinclair’s Commentary

QE to infinity, which is debt monetization on steroids in the entire Western world.

Merkel loses power in state election
Published: 6 May 12 19:40 CET

German Chancellor Angela Merkel’s centre-right coalition lost power in the state of Schleswig-Holstein, first estimates showed Sunday, after a vote that could presage national elections next year.

Merkel’s Christian Democrats (CDU) scored 30.6 percent, according to ARD public television, with her junior partners at the national level, the Free Democrats (FDP), winning 8.3 percent – not enough to retain power in the northern state.

However, the opposition – combining the centre-left Social Democrats and ecologist Greens – also failed to gain sufficient support to form a government, with 29.9 percent and 13.6 percent respectively.

This left as a strong possibility a so-called "grand coalition" between the CDU and SPD, which many believe could be the final result of the national elections due in September or October 2013.

The big winners on the night were the Pirates, an upstart party that has shaken up the staid world of German politics with a campaign based on more transparency in the political process and internet freedom.

For the third consecutive regional election, they breached the five-percent mark needed to enter the state parliament, winning 8.2 percent of the vote.

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Jim Sinclair’s Commentary

In case you didn’t know, I have friends in high places.

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Jim Sinclair’s Commentary

Austerity removes politicians and makes strange replacements. QE to infinity is the only political choice.

British voters give Cameron a thrashing
Anthony Faiola
May 6, 2012

BRITAIN’S ruling coalition has sustained punishing losses in local elections, with final results showing the Conservatives and their partner Liberal Democrats giving up hundreds of seats in a stinging rebuke to the two-year-old government of Prime Minister David Cameron.

The results showed the opposition Labour Party gaining 823 seats – winning control of key cities including Birmingham and Cardiff – in what analysts saw as a protest against the Conservatives’ tough austerity drive, the flagging economy, and a series of missteps that left voters questioning the competence of the government.

The Conservatives, however, won a major consolation prize – the re-election of London’s eccentric mayor, Boris Johnson.

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He defeated his Labour challenger, Ken Livingstone, who had formerly held the top job in Europe’s largest city. The win further positions the gaffe-prone, blunt-talking Mr Johnson as a potential challenger to Mr Cameron’s leadership of the Conservatives in the years ahead.

But elsewhere, the results amounted to a major setback for the coalition.

A beaming Ed Miliband, head of the Labour Party, revelled in the opposition’s success, saying the local elections foreshadowed the national race in 2015. Seats on local councils are considered key to garnering votes in national elections.

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Jim Sinclair’s Commentary

Austerity changes political figures. You can be sure the present US Administration is paying close attention.

Change is coming.

France Selects Hollande as President
BY STEVEN ERLANGER and NICOLA CLARK
Published: May 6, 2012

PARIS — François Hollande swept into office on Sunday, becoming the first Socialist to become president of France since François Mitterrand left office in 1995. Mr. Hollande campaigned on a kinder, gentler, more inclusive France, but his victory over Nicolas Sarkozy will also be seen as a challenge to the German-dominated policy of economic austerity in the euro zone, which is suffering from recession and record unemployment.

French voters may not like belt-tightening, but both Mr. Hollande and Mr. Sarkozy had promised to balance the budget in the next five years. The vote was viewed domestically as a rejection of the unpopular Mr. Sarkozy and his relentless effort to appeal to the voters of the far right National Front. Mr. Sarkozy is the first incumbent president to lose since Valéry Giscard d’Estaing lost to Mr. Mitterrand in 1981.

With about half the votes counted, preliminary results released by the Interior Ministry shortly after the last polling stations closed at 8 p.m. showed Mr. Hollande had secured about 51 percent of the vote while Mr. Sarkozy, of the center-right Union for a Popular Movement, had about 49 percent. Opinion pollsters suggested that the final result would be closer to 52 percent versus 48 percent.

“François Hollande is the president of the republic, he must be respected,” Mr. Sarkozy said in a gracious concession speech shortly after the polls closed. “I want to wish him good luck in the midst of these tests.”

Mr. Sarkozy thanked “the millions of French who voted for me,” but said he accepted “total responsibility” for Sunday’s result.

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