In The News Today

Posted at 11:56 AM (CST) by & filed under In The News.

Thought For The Day

If you do not hold the bullion, direct register or certificate your shares, you have nothing whatsoever but a paper statement, no matter who you buy through or buy from here or anywhere.

 

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Jim Sinclair’s Commentary

Here is a dog that we could all learn from. It is the antithesis of that disgraceful Mercedes advertisement posted today

 

Swiss Gold Repatriation Almost Reality 
Jan 27, 2013 5:45 AM

A year ago, 4 Swiss parliament members launched the "Swiss Gold Initiative" to repatriate their gold to Switzerland. Today, almost one year later we have 90000 supporters for this initiative. Once the 100000 supporters is reached, we are certain that the Swiss National Bank will repatriate their gold holdings. I’m sure those 10000 votes will be reached by March 2013.

So not only the Germans want their 3400 tonnes of gold back, now the Swiss want their gold back.

As of September 2012, the SNB had 55591 million CHF gold (Table 1). That’s 59139 million USD gold or 33.4 million ounces of gold or 1040 tonnes of gold. That’s one third of Germany’s gold and is pretty significant.

The SNB hasn’t said where its gold is and also hasn’t said if it will repatriate their gold all at once, but if they were to repatriate it all at once, it would be almost double the amount that Germany is now repatriating over 7 years: namely 674 tonnes of gold.

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Jim Sinclair’s Commentary

This kid is yelling at the top of his lungs, look at me!

North Korea imposes martial law, orders troops to ‘be ready for war’ – report
Published: 31 January, 2013, 23:37
Edited: 01 February, 2013, 12:54

North Korea has allegedly been placed under martial law and its ruler Kim Jong-un has ordered the army to “prepare for war”, a South Korean daily claims.

The North Korean leader issued a series of orders to his top defense and security officials on Saturday to conclude preparations for a new nuclear test, the Seoul based Korea JoongAng Daily alleges citing an unnamed source.

The source reportedly said that Kim Jong-un issued a secret order to “complete preparations for a nuclear weapons test <…>and carry it out soon”.

According to the source, Kim Jong-un also said, “The country will be under martial law starting from midnight January 29th and all the frontline and central units should be ready for war.”

The source told the South Korean daily that the nuclear test could come earlier than expected. Other analysts have said it would likely be held on February 16th, the birthday of the former leader Kim Jong-il, who died in 2011.

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Jim Sinclair’s Commentary

Here is a look at the common share of Euroland and the USA.

1.36764 +0.00544 (+0.40%)
2013-02-01 14:22:38, 0 min delay

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79.100 -0.106 (-0.14%)
2013-02-01 14:09:34, 30 min delay

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Jim Sinclair’s Commentary

Fascism at it corporate best.

If a Corporation (BP) Pleads Guilty to Manslaughter, Who Goes to Prison?
Friday, February 01, 2013

Pleading guilty to killing someone usually means going to prison…unless the perpetrator is a corporation.

This week, BP agreed to 11 counts of manslaughter for the workers killed during the 2010 Gulf of Mexico oil disaster, when the Deepwater Horizon oilrig blew up.

But no one from the oil giant will serve time for the convictions. Instead, BP will pay a $4 billion fine, which is equivalent to what the company made in revenue every four days last year.

Also, BP will have five years to pay the fine. This news left some family members of those killed on the rig feeling bitter.

“I think BP is the real winner today,” Chris Jones, whose brother, Gordon Jones, was killed in the Deepwater Horizon explosion, told the Houston Chronicle. “They got what they wanted—to resolve the criminal charges,” he added, “and they get a nice five-year payment plan to pay it off.”

In addition to the 11 felony manslaughter counts, BP’s plea deal included one misdemeanor count under the Clean Water Act; one misdemeanor count under the Migratory Bird Treaty Act; and one felony count of obstructing Congress by deliberately understating the amount of oil that flowed after the blowout.

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Jim Sinclair’s Commentary

If a banker dies he has to be nailed down to the grave with silver nails and a crucifix or he comes back as the undead and starts screwing up the world again.

No-money-down mortgages are back
By AnnaMaria Andriotis
Feb. 1, 2013, 1:25 p.m. EST

Some affluent buyers are getting the keys to their new home without putting a penny down.

It’s 100% financing—the same strategy that pushed many homeowners into foreclosure during the housing bust. Banks say these loans are safer: They’re almost exclusively being offered to clients with sizable assets, and they often require two forms of collateral—the house and a portion of the client’s investment portfolio in lieu of a traditional cash down payment.

In most cases, borrowers end up with one loan and one monthly payment. Depending on the lender and the borrower, roughly 60% to 80% of the loan can be pegged to the home’s value while the remaining 20% to 40% can be secured by investments. On a $2 million primary residence, for instance, the borrower could get a $2 million loan, which would require a pledge of assets in an investment portfolio to cover what could have been, say, a $500,000 down payment. The pledged assets can remain fully invested, earning returns as normal, without disrupting the client’s investment goals.

While these affluent clients may be flush with cash, this strategy allows them to get into a home without tying up funds or making withdrawals from interest-earning accounts. And given the market’s gains combined with low borrowing rates in recent years, some banks say clients are pursuing 100% financing as an arbitrage play—where the return on their investments is bigger than the rate they pay on the loan, which can be as low as 2.5%. Some institutions offer only adjustable rates with these loans, which could become more expensive if rates rise. In most cases, the investment account must be held by the same institution that’s providing the loan.

These loans also provide tax benefits. Since borrowers don’t have to liquidate their investment portfolios to get financing, they can avoid the capital-gains tax. And in some cases, they can still tap into the mortgage-interest deduction. (Borrowers can usually deduct interest payments on up to $1 million of mortgage debt.)

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Jim Sinclair’s Commentary

This illustration should rid the site of the anti gun liberals. This effort wants to speak to quality and not quantity.

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Jim Sinclair’s Commentary

If the illustration did not work, this video expressing good common sense will.

 

Jim Sinclair’s Commentary

The pretend recovery goes on pretending.
U.S. Adds 157,000 Jobs; Unemployment Rate Edges Up to 7.9%
Friday, February 1, 2013 8:36 AM EST

American employers added 157,000 jobs in January compared with a revised 196,000 jobs the previous month, the Labor Department reported on Friday. The unemployment rate was little changed at 7.9 percent, about where it has been stuck since September.

On the bright side, revised government data showed that the economy added 335,000 more jobs than originally estimated during all of 2012, including an additional 150,000 in the last quarter of the year. That was on top of the previously reported fourth-quarter job growth of 603,000 and 2012 growth of 2.2 million.

The higher revisions, in particular, encouraged traders on Wall Street, sending the Dow Jones industrial average over the 14,000-point mark for the first time since 2007.

Still, job growth has been modest compared with previous recoveries, and economists saw little in January’s report to suggest that hiring would pick up soon.

“I think it’s going to be a tough slog here,” said Joshua Shapiro, chief United States economist for MFR Inc. “There are plenty of headwinds out there for the economy. The cost of hiring somebody is great, with benefit costs and everything, and unless companies really absolutely need someone, they’re not going to hire.”

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Jim Sinclair’s Commentary

Now the court cases begin with I assume significant funding from both side of this question.

Injured veteran arrested in weapons investigation
By DAVID C. SHAMPINE
MONDAY, JANUARY 7, 2013

A former Fort Drum soldier who was injured in special forces training was arrested Sunday night when he was found with prohibited rounds of ammunition, the Jefferson County Sheriff’s Department said.

Nathan H. Haddad, 32, of 25240 Waddingham Road, town of LeRay, faces five felony counts of third-degree criminal possession of a weapon. He was released without bail before town of Watertown Justice Andrew N. Capone, and is ordered to appear Wednesday in town of LeRay Court.

Deputies made the arrest shortly before 7:30 p.m. Sunday on Steinhilber Road in the town of LeRay, where Mr. Haddad is accused of possessing five 30-round AR-15 magazines of ammunition. He is cited under a state penal law statute that prohibits possession of “a large capacity ammunition feeding device.” The ammunition was found in his vehicle during a traffic stop, according to the sheriff’s office.

Mr. Haddad was deployed four times during his decade in the Army, the Times reported in a story featuring him in September 2009. At that time, he was a staff sergeant with the 3rd Battalion, 85th Infantry, Warrior in Transition Unit at Fort Drum, undergoing aquatic physical therapy for an injury he suffered in South Korea during special forces training. He was discharged from the Army in October 2010, according to Fort Drum.

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Jim Sinclair’s Commentary

It is not just the stock market. It is every market thanks to the zeros, not heroes, of today’s

financial world.

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