In The News Today

Posted at 4:54 PM (CST) by & filed under In The News.

Jim Sinclair’s Commentary

The Birthday Boy all dressed up for his party. If you cannot laugh at yourself you cannot live.

What is 27 backwards? 72 of course!

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Jim Sinclair’s Commentary

The West sits on their hands while China buys Africa.

Rare Earth Elements may not be discussed now, but they are critical to the future of technology in the world. The two major sources of REEs are China and Tanzania.

The Chinese invests $10 billion, and the USA invests ZERO! This is a world class lost opportunity.

Xi set to unveil $10bn Tanzania port project
By Leslie Hook in Beijing
updated 7:16 AM EDT, Mon March 25, 2013

(Financial Times) — Chinese President Xi Jinping is expected to unveil a big port project in Tanzania during his first visit to Africa as head of state, highlighting China’s growing infrastructure investments in the resource-rich continent.

Chinese investment in and trade with Africa have soared over the past decade, with China’s lending to developing country governments and companies surpassing that of the World Bank during certain periods.

The visit to Tanzania is rich in symbolism because the Tanzania-Zambia railroad, built in the 1970s, was one of China’s first major infrastructure projects in Africa.

During his trip, Mr Xi is expected to sign several co-operation agreements with Tanzania, including plans for a $10bn port project in Bagamoyo, Philip Marmo, Tanzania’s ambassador to China, told the Chinese newspaper 21st Century Business Herald.

The port, which is located north of Dar es Salaam, will be linked to a special industrial zone and function as a trade hub linking Asia and east Africa, with the state-owned China Merchants Group leading the port construction, according to Mr Marmo.

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Tanzania: China Aid to Boost National Budget
By Pius Rugonzibwa, 27 March 2013

THE 17 agreements signed last Sunday between Tanzania and China are worth 14 billion US Dollars (about 22tr/-), it has been revealed.

The Minister for Finance and Economic Affairs, Dr William Mgimwa, told the ‘Daily News’ that the huge funding will cover many strategic economic areas and will have a direct impact on the national budgets at least for the coming two fiscal years.

The minister said that his ministry would prepare the exact statistical details contained in the agreements and areas which would be directly or indirectly benefit from the agreements.

The minister, however, confirmed that many areas will be covered in the framework agreements which embrace various economic and technical co-operations.

"We have got a number of projects that will benefit from this huge funding and some of them will enjoy interest free loans. What is important is that this economic boost will definitely have a great impact on our budgets," he stressed.

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Jim Sinclair’s Commentary

Sage words from CIGA Patrick with which I totally agree:

“The euro and the dollar are 2 ugly entities, but the euro is showing the jewelry of gold, marked to the market, so the world will dance with the euro.

Currencies are for transactions. Gold for saving. That’s where we are going.”

Mark-to-market accounting
From Wikipedia, the free encyclopedia

Mark-to-market or fair value accounting refers to accounting for the "fair value" of an asset or liability based on the current market price, or for similar assets and liabilities, or based on another objectively assessed "fair" value. Fair value accounting has been a part of Generally Accepted Accounting Principles (GAAP) in the United States since the early 1990s, and is now regarded as the "gold standard" in some circles [1]

Mark-to-market accounting can change values on the balance sheet as market conditions change. In contrast, historical cost accounting, based on the past transactions, is simpler, more stable, and easier to perform, but does not represent current market value. It summarizes past transactions instead. Mark-to-market accounting can become inaccurate if market prices fluctuate greatly or change unpredictably. Buyers and sellers may claim a number of specific instances when this is the case, including inability to value the future income and expenses both accurately and collectively, often due to unreliable information, or over-optimistic or over-pessimistic expectations.

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Jim Sinclair’s Commentary

The sun is now setting in the West and they do not have a clue it has happened.

BRICS agrees to create $100 bin contingency fund.
The Times of India
27 Mar, 2013, 08.14PM IST, PTI

DURBAN: In a major achievement for India in its campaign for reforming the international financial architecture, BRICS nations on Wednesday decided to establish a new development bank to finance infrastructure and to create a USD 100 billion Contingency Reserve Arrangement to tackle any financial crisis in the emerging economies.

The decision was taken at the BRICS Summit here which also launched a Business Council to encourage investment and trade in member countries and to expand business cooperation. Leaders of the inter-continental grouping including Prime Minister Manmohan Singh, met here this morning for an extended session and accepted the report of their finance ministers saying "we are satisfied that the establishment of a New Development Bank is feasible and viable".

"We considered that developing countries face challenges of infrastructure development due to insufficient long-term financing and foreign direct investment, especially inestment in capital stock. "This constrains global aggregate demand. BRICS cooperation towards more productive use of global financial resources can make a positive contribution to addressing this problem," the laders said in a statement after the two-hour summit.

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Jim Sinclair’s Commentary

Today celebrating my birthday with the gang. Catch the athletic socks. You know this boy is from the 1940s.

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