In The News Today

Posted at 12:13 PM (CST) by & filed under In The News.

Dear CIGAs,

Ok, I am proud. My first daughter, the African, clears the water jump in the World Cup qualifying competition. This lady is not lacking in courage.

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My Dear Friends,

Ok we must admit it. We are gold investors, some traders, so we are in that 1% which differs from the 99% of Sheeple.

People can be really nasty to the 1% they so disagree with.

Not to worry. This video will make it all ok. You will need sound.

Click here to watch the video…

 

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Jim Sinclair’s Commentary

And to seek assets in Africa outside of RSA.

Rightsizing the SA gold sector
South Africa’s gold sector has been pushed by recent labour unrest to consider carefully its next steps and productivity is a focal point.
Author: André Janse van Vuuren
Posted: Tuesday , 20 Nov 2012

JOHANNESBURG (Mineweb) -  South Africa’s recent labour unrest has given fresh impetus to the gold sector’s long-predicted need for a structural shift and could force major producers to contemplate downsizing operations sooner than first anticipated.

The higher cost base brought about by the new wage settlements, with expectations that future salary increases would continue to exceed inflation, could also accelerate the efforts by South African producers to do away with low-margin ounces and pursue higher yielding reserves instead.

AngloGold Ashanti, the country biggest producer, was first to announce a review of its asset base when CEO Mark Cutifani said earlier this month the company would, in future, concentrate its efforts on higher margin, higher quality operations.

While Gold Fields is yet to announce a similar initiative – it is likely to do so when it releases September-quarter results on Monday – CEO Nick Holland has been vocal about the fact that some damage is permanent and would result in sweeping structural changes across the industry.

A research report on the need for the restructuring of South Africa’s gold mining industry, released in July prior to the onset of the strikes, even then painted a grim outlook for the prospects of the country’s mature mines.

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Jim Sinclair’s Commentary

The US is over a cliff more serious than just economic, and there is no going back.

CIGA SE reminds us not to put anything on an email that you would not want to see on a billboard with your name. This is an attempt to legitimize the NSA keyword search on every email sent or received in North America and elsewhere.

The sheeple have traded our liberty for some imagined protection. Many wonder why the Jewish people in Germany did not see what the Nazis were and ran. They saw it but found reason not to pay attention to what their intuition was screaming at them.

The US is over a cliff and there is no going back. Hillary is more than likely our next president.

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Senate bill rewrite lets feds read your e-mail without warrants
Proposed law scheduled for a vote next week originally increased Americans’ e-mail privacy. Then law enforcement complained. Now it increases government access to e-mail and other digital files.
by Declan McCullagh
November 20, 2012 4:00 AM PST

A Senate proposal touted as protecting Americans’ e-mail privacy has been quietly rewritten, giving government agencies more surveillance power than they possess under current law.

CNET has learned that Patrick Leahy, the influential Democratic chairman of the Senate Judiciary committee, has dramatically reshaped his legislation in response to law enforcement concerns. A vote on his bill, which now authorizes warrantless access to Americans’ e-mail, isscheduled for next week.

Leahy’s rewritten bill would allow more than 22 agencies — including the Securities and Exchange Commission and the Federal Communications Commission — to access Americans’ e-mail, Google Docs files, Facebook wall posts, and Twitter direct messages without a search warrant. It also would give the FBI and Homeland Security more authority, in some circumstances, to gain full access to Internet accounts without notifying either the owner or a judge. (CNET obtained the revised draft from a source involved in the negotiations with Leahy.)

It’s an abrupt departure from Leahy’s earlier approach, which required police to obtain a search warrant backed by probable cause before they could read the contents of e-mail or other communications. The Vermont Democrat boastedlast year that his bill "provides enhanced privacy protections for American consumers by… requiring that the government obtain a search warrant."

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Jim Sinclair’s Commentary

The cage is the system, specifically DTCC. The pup with great determination is how you should seek to exit your trap. You are fully out when you certificate and hold your own certificates.

DRS is the 2nd best option especially for anyone who habitually misplaces their car keys.

 

Jim Sinclair’s Commentary

John Williams, a man who should be paid his small fee for his information.

- Barreling Down the Road, Big-Government Spending Tries Careening Around the Pothole of the Fiscal-Cliff and then Accelerates, Blithely Ignoring the Road-Closed Sign Ahead
- Do or Die, Incoming Government Is Last Frail Hope for Avoiding Hyperinflation
- Economy Already in Renewed Contraction
- Four-Year High in October Housing Starts Still Is 61% Below 2006 Peak
No. 484: Preview of Special Commentary, Housing Starts
http://www.shadowstats.com

Jim Sinclair’s Commentary

Dogs show us how to relax. Please take their lesson and relax regarding the gold price.

Forget the two bears published by a major coin dealer. They will be as right as their resident bear has been over the past 10 years.

The only logical reason for their often promotion of the bearish side is they want to buy back coins they may have shorted to clients.

Gold will trade at $3500 and beyond.

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Jim Sinclair’s Commentary

The hint of the form of the new reserve currency.

Tied to the price of gold, but not convertible into gold, is a hint of how the new reserve currency will work.

What will help this bond is the aura of gold, most certainly as inflation rates expand. What will help the new reserve currency is gold tied to a M3 of the Western world and price.

VTB Turns Alchemist as Bond Ties Return to Gold: Russia Credit
By Lyubov Pronina – Nov 20, 2012 3:14 AM ET

VTB Group, the first Russian lender to sell perpetual bonds and debt linked to the country’s benchmark equity index, is selling the nation’s debut notes tied to the price of gold.

VTB is offering 1 billion rubles ($32 million) of securities the company will redeem in December 2013 that pay a rate based on returns from gold up to a limit of 20 percent, according to a Nov. 16 regulatory filing. Gold for immediate delivery rose 11 percent this year to $1,730.44 an ounce. VTB’s dollar bonds due in February 2018 gained the same amount this year, according to data compiled by Bloomberg.

The bonds from Russia’s second-largest bank will offer pension funds a way to invest in gold within the limits placed on commodity holdings by regulators, according to ZAO Raiffeisenbank. VTB, which has sold debt in Turkish liras, Swiss francs and Singapore dollars this year, issued its first $1 billion of perpetual bonds in July, prompting OAO Gazprombank to follow suit last month.

“VTB is a pioneer on the Russian market,” Denis Poryvay, an analyst at Raiffeisen in Moscow, said by phone yesterday. “It’s similar to an exchange-traded fund on gold for Russian investors.”

Banks including JPMorgan Chase & Co. and Barclays Plc sold 11 structured notes tied to gold in November, according to data compiled by Bloomberg. Credit Suisse Group AG sold $2 million of reverse convertibles — high-yielding bank bonds that suffer losses if a reference asset plummets — that are linked to the gold price on Nov. 5 with a coupon of 4 percent. VTB Capital’s press service declined to comment on its planned issue.

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