Jim’s Mailbox

Posted at 2:21 AM (CST) by & filed under Jim's Mailbox.

My Dear Extended Family,

When you hear talk of paying the banks to have dollars on deposit, remember you are not the holder of an asset, dollars in the bank, but rather a unsecured lender to the bank paying the banksters for the privilege of being at risk to the dollar, and at risk to the bank itself. That is simply insane.

Respectfully,
Jim

Jim,

Yes, of course, you saw this one coming. Here is the link…

Although I’m sure a dozen other CIGAs sent this to you, I’ll send it anyhow, just to make sure you see it.

I personally have moved most of my assets safely over to Singapore and am proud to participate in SGPMX with you. I’m getting as much out of the system I a possibly can, and owe you a great debt of gratitude for your foresight.

Happy Thanksgiving,
CIGA Bill in Las Vegas

 

Dear Jim,

U.S. borrowers are increasingly missing payments on home equity lines of credit they took out during the housing bubble, a trend that could deal another blow to the country’s biggest banks.

The loans are a problem now because an increasing number are hitting their 10-year anniversary, at which point borrowers usually must start paying down the principal on the loans as well as the interest they had been paying all along.

More than $221 billion of these loans at the largest banks will hit this mark over the next four years, about 40 percent of the home equity lines of credit now outstanding.

The number of borrowers missing payments around the 10-year point can double in their eleventh year, data from consumer credit agency Equifax shows. When the loans go bad, banks can lose an eye-popping 90 cents on the dollar, because a home equity line of credit is usually the second mortgage a borrower has. If the bank forecloses, most of the proceeds of the sale pay off the main mortgage, leaving little for the home equity lender.

Regards,
CIGA David Madisonstyle

Insight: A new wave of U.S. mortgage trouble threatens
Peter Rudegeair Reuters
5:31 a.m. CST, November 26, 2013

(Reuters) – U.S. borrowers are increasingly missing payments on home equity lines of credit they took out during the housing bubble, a trend that could deal another blow to the country’s biggest banks.

The loans are a problem now because an increasing number are hitting their 10-year anniversary, at which point borrowers usually must start paying down the principal on the loans as well as the interest they had been paying all along.

More than $221 billion of these loans at the largest banks will hit this mark over the next four years, about 40 percent of the home equity lines of credit now outstanding.

For a typical consumer, that shift can translate to their monthly payment more than tripling, a particular burden for the subprime borrowers that often took out these loans. And payments will rise further when the Federal Reserve starts to hike rates, because the loans usually carry floating interest rates.

More…

Jim,

It would be funny but unfortunately, it is true!

CIGA Perry

 

Jim,

I wonder if in the fine print in the Iran deal there is a provision that requires Iran to do some percentage of their oil sales in dollars. If so, this would tell you the U.S. government is more concerned with loss of dollar reserve status than nuclear war!

Ralph

Ralph,

The US cares more about petro dollars than anything else. If the Saudis get mad enough they could sink the petro dollar.

Jim

 

Jim,

Have you heard this from Harvey Organ’s site below:

"I was informed by my son that his friend entered the Bank of Nova Scotia to purchase $50,000 worth of gold.  The Bank of Nova Scotia refused the order as they stated that they must see at least 6 months records to make sure that the source of funds was legal."

The real gold and silver markets are about to explode!

Your Singapore exchange should rock and roll.

Regards,
CIGA Mark

 

Hi Jim,

With the action in gold and silver over the last 2 years it is fairly obvious that the powers that be do not want the common man invested in precious metals. I hold in my own hands some gold and silver. Do you think these paper certificates traded as gold and silver have hurt the owner of physical? How do we stop the fraud that is " buy some silver" and you will be exposed to the silver price. What a joke.

Cheers
Simon

Simon,

There is no doubt that the paper gold market is very influential when it comes to the price of gold currently. The advent of physically backed precious metals exchanges will start to see a change in the way the price discovery mechanism functions for gold and silver. Jim’s involvement in the Singapore Precious Metals Exchange (SGPMX) is intended to assist in that change whereby we effectively go back to the period before 1973 when gold and silver prices were determined by the demand for physical metal rather than paper.

The manipulation will be over once exchanges such as SGPMX get up and running and provide a real physical precious metals market based on demand for the actual metal itself and not for paper.

Regards,

Peter Mickelberg
Communications Consultant
www.jsmineset.com

 

Jim,

Regarding the 7 loopholes for a nuclear Iran. Interesting… in that I am to understand one of the items agreed upon is that Iran cannot sell oil for gold. Why is this included (at all) let alone included in a nuclear non-proliferation accord?

I have understood the CBs not to want gold to be used, but this is more extreme than what I felt was ‘resistance’ before this.

CIGA Andrew

Andrew,

You take dollars for oil and buy gold with those dollars. Big change = no.

Jim

 

Jim,

So US so called signs a deal one day then joins in these exercises the next day! Seems like the deal we are reading in papers might not be what really went down. I’m thinking the meeting was NOT DOLLAR POSITIVE…

CIGA David Madisonstyle

Coincidence? Israel Launches Largest Ever Air Force "Exercise" The Day After Iran Deal
Submitted by Tyler Durden on 11/25/2013 – 22:19

We are sure it was all planned a long time ago but the irony is not lost on us. A day after the US pisses the Israelis off with a sorta kinda deal with Iran, for the first time in Israel’s history, the Israel Air Force launched the “Blue Flag” training exercise – an international air force exercise with participation by the US, Italian and Greek air forces.

More…