In The News Today

Posted at 10:46 PM (CST) by & filed under In The News.

Jim Sinclair’s Commentary

Reputation of management is extremely important in securities valuation. Reputation of management of a country will impact its common share, its currency.

As the economic status of the USA has begun a flow towards Asia, it is the military strength of the USA that has had much to do with the utilization of the US dollar in international trade contracts.

BOB WOODWARD: Obama Is Showing ‘A Kind Of Madness I Haven’t Seen In A Long Time’
Brett LoGiurato | Feb. 27, 2013, 9:23 AM

The Washington Post’s Bob Woodward ripped into President Barack Obama on "Morning Joe" today, saying he’s exhibiting a "kind of madness I haven’t seen in a long time" for a decision not to deploy an aircraft carrier to the Persian Gulf because of budget concerns.

"Can you imagine Ronald Reagan sitting there and saying, ‘Oh, by the way, I can’t do this because of some budget document?’" Woodward said.

"Or George W. Bush saying, ‘You know, I’m not going to invade Iraq because I can’t get the aircraft carriers I need?’" Or even Bill Clinton saying, ‘You know, I’m not going to attack Saddam Hussein’s intelligence headquarters,’ … because of some budget document?"

The Defense Department said in early February that it would not deploy the U.S.S. Harry Truman to the Persian Gulf, citing budget concerns relating to the looming cuts known as the sequester.

"Under the Constitution, the President is commander-in-chief and employs the force. And so we now have the President going out because of this piece of paper and this agreement. ‘I can’t do what I need to do to protect the country,’" Woodward said.

More…

 

Jim Sinclair’s Commentary

If you trade anything gold on margin you are asking for it.

clip_image001[1]

 

Jim Sinclair’s Commentary

A typical day in Toronto.

clip_image002[1]

Jim Sinclair’s Commentary

Show me slowly spreads.

Mexico’s audit office tells Bank of Mexico to verify gold held at Bank of England
Submitted by cpowell on Wed, 2013-02-27 02:32. Section: Daily Dispatches
9:30p ET Tuesday, February 26, 2013

Dear Friend of GATA and Gold:

Mexican financial journalist and agitator for accountability in government Guillermo Barba reports today that the Mexican government audit office has reprimanded the Bank of Mexico for failing to verify its supposed purchase of $4.5 billion of gold vaulted at the Bank of England. The audit office confirms Barba’s complaint last year that the Bank of Mexico had purchased only "paper gold" at the Bank of England and had no idea of the number of bars it had supposedly purchased, nor of the purity of the bars.

Barba writes that the audit office has recommended that the Bank of Mexico "make a physical inspection with the counterparty that has the gold under its custody, in order to be able to verify and validate its physical wholeness and the compliance with the terms and conditions of dealing with this asset." Barba adds that the Bank of Mexico does not want to do this but wants to trust the Bank of England not to play games with Mexico’s gold.

Of course this situation is almost identical to the situation that developed in recent months with the gold of Germany’s Bundesbank supposedly held in foreign vaults. Barba urges his country to repatriate its gold as a matter of basic national sovereignty just as Venezuela has done and as the Bundesbank has begun to do in tiny steps.

Barba’s report is headlined "Mexico’s Federal Audit Demands Physical Inspection of Sovereign Gold Holdings" and it’s posted in England at his Internet site, Global Financial Intelligence, here:

http://inteligenciafinancieraglobal.blogspot.mx/2013/02/mexicos-federal-…

Of course GATA urges its friends in Mexico to make themselves heard in support of Barba and Mexican sovereignty.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

More…

Jim Sinclair’s Commentary

When it is all said on done with millions of words in MSM and on the gold blogs, here is the situation defined.

clip_image001

Jim Sinclair’s Commentary

Sequester explained in a pie chart.

clip_image002

Jim Sinclair’s Commentary

To put things into perspective.

clip_image003