In The News Today

Posted at 12:55 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

…Watch the credit markets!

Bitcoin Explodes Higher As Chinese Interbank Liquidity Freezes; Overnight Yuan Rate Hits 45%
January 4, 2017

As one veteran trader noted “something is very broken.” After a massive short-squeeze sent the offshore yuan soaring during the US day session, overnight yuan deposit rates have exploded 31.5 percentage points higher to 45% – just shy of the record highs – as China’s interbank liquidity crisis is front-and-center. At the same time, coincidence or not, Bitcoin denominated in yuan has gone vertical, smashing through previous record highs.

Continuing the recent trend of demonstrably withdrawing liquidity, the People’s Bank of China injected a paltry CNY10 billion via seven-day reverse repos and skipped both 14-day and 28-day reverse repos at its open-market operations Thursday, according to traders. The moves resulted in a net drain of CNY140 billion for the day and a whopping CNY435 billion in liquidity at OMMOs so far this week. Yes, nearly half a trillion yuan in liquidity has been withdrawn in just the past week, a time when banks are already scrambling for every spare source of cheap funding.

As a result of this forced drain which was likely orchestrated by the central bank to crush any remaining shorts, and the utter desperation for liquidity, has prompted deposit rates to explode.

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Jim Sinclair’s Commentary

Anyone want a war?

Would it not be better for all if the President retiring and President elect simply did the battle of the balls (dancing type) and “A” list entertainers?

Washington seems to be enacting The “Lord of the Flies”. (During an unnamed time of war, a plane carrying a group of British schoolboys is shot down over the Pacific. The pilot of the plane is killed, but many of the boys survive the crash and find themselves deserted on an uninhabited island, where they are alone without adult supervision).

US Special Forces Deployed At Russian Border To Defend Baltic States ‘Scared To Death’ By Vladimir Putin
January 4, 2017

US Special Forces have been deployed close to the border with Russia as part of a “persistent” presence of American troops in the Baltics.

Dozens of special ops solders are being stationed along Europe’s eastern flank to reassure Nato allies Latvia, Lithuania and Estonia.

The move will also allow the US to monitor Russian manoeuvres amid fears of further destabilisation following its annexation of Crimea in 2014.

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Jim Sinclair’s Commentary

Be sure to click on bottom video as this film is being shown in Washington and Moscow tonight. Is it any wonder why the CIA is being reorganized?

B-52 loses engine over North Dakota
January 5, 2017

A B-52 Stratofortress bomber lost one of its eight engines while conducting a training flight off Minot Air Force Base in North Dakota.

“Earlier today, a B-52 dropped an engine while in flight,” a US Air Force spokesperson told Military.com in an email on Wednesday. “The aircraft landed safely with no injuries.”

The engine broke up and debris landed in an unpopulated area, the report said. No immediate information of injuries or damage on the ground was available.

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Jim Sinclair’s Commentary

This world has slipped beyond all ethical boundaries. I suspect 2017 is going to be a very interesting year. Our patience will pay off big time.

WashPost Is Richly Rewarded for False News About Russia Threat While Public Is Deceived
January 4, 2017

IN THE PAST six weeks, the Washington Post published two blockbuster stories about the Russian threat that went viral: one on how Russia is behind a massive explosion of “fake news,” the other on how it invaded the U.S. electric grid. Both articles were fundamentally false. Each now bears a humiliating editor’s note grudgingly acknowledging that the core claims of the story were fiction: The first note was posted a full two weeks later to the top of the original article; the other was buried the following day at the bottom.

The second story on the electric grid turned out to be far worse than I realized when I wrote about it on Saturday, when it became clear that there was no “penetration of the U.S. electricity grid” as the Post had claimed. In addition to the editor’s note, the Russia-hacked-our-electric-grid story now has a full-scale retraction in the form of a separate article admitting that “the incident is not linked to any Russian government effort to target or hack the utility” and there may not even have been malware at all on this laptop.

But while these debacles are embarrassing for the paper, they are also richly rewarding. That’s because journalists — including those at the Post — aggressively hype and promote the original, sensationalistic false stories, ensuring that they go viral, generating massive traffic for the Post (the paper’s executive editor, Marty Baron, recently boasted about how profitable the paper has become).

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