Jim’s Mailbox

Posted at 10:50 AM (CST) by & filed under Jim's Mailbox.

Hi Jim,

It looks like working groups with an opening address from Marc Uzan and The Reinventing Bretton Woods Committee.

Haven’t seen much coverage of this in the MSM.

CIGA Doug

Global Finance in Transition conference to take place in Istanbul
15 April 2013

On May 7-8, 2013, Istanbul (Turkey) will host the Global Finance in Transition conference. The event is organized by the Central Bank of the Republic of Turkey jointly with the Reinventing Bretton Woods Committee and the Russian Ministry of Finance.

Representatives of G20 finance ministries and central banks, international organizations, research institutions and businesses will take part in the conference. Head of Turkey’s Central Bank Erdem Basci, Deputy Minister of Finance of Russia Sergei Storchak and Executive Director for the Reinventing Bretton Woods Committee Marc Uzan will give the opening remarks at the conference.

Five panel discussions are planned as part of the event. They will cover the international financial architecture, in particular, changes in the flow of global investments, local bond markets and growth in emerging economies, incentives and determinants of investment and other issues. In addition it is expected that new instruments and incentives for making the global financial system safer will be suggested during the forum.

More…

 

Dear Jim,

I just had a client tell me that when she called her bank to cash out of her GICs in her RRSP account in Canada, they told her she has to write a letter explaining the reasons why she wants to cash out.

How arrogant can they be? Is this capital control, or what?

CIGA Bosko

Jim,

US equity markets go up every day. It is as if it is phony monopoly money, almost like the beginning of the Zimbabwe stock market run.

CIGA Kevin A.

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Jim Sinclair’s Commentary

A refresher of CIGA Bo Polny’s work, originally posted April 19th, 2013.

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Jim,

In an epic battle between Good Gold and the Evil Empire, stay calm, do nothing. Be right and sit tight. The Force is with us.

CIGA Dennis

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Good morning Jim,

I am having a tough time wrapping my mind around a concept and was hoping to tap your knowledge of the Federal Reserve.

Based on reports, the Fed has a little over $3 trillion of Treasuries on it’s balance sheet or roughly 20% of all US Treasury debt outstanding.

What is to stop the Fed from owning virtually all of the outstanding debt and in essence forgiving its debt to itself? What would be the ramifications?

I ask this as I watch the DOW Transports hit a high while the Baltic Dry index is down to 800 from a peak of 11,800.

Best wishes,
CIGA George S

George,

The value of the dollar is the limit to the Federal Reserve’s Balance Sheet, and nothing else.

Jim