Jim’s Mailbox

Posted at 12:57 PM (CST) by & filed under Jim's Mailbox.

The moment of truth approaches. Compliments of CIGA David.

Rand Paul Introduces Bill to Audit the Fed, Says it Has Trump Support
January 4, 2017

Literally nothing is going to happen here. Let’s not pretend Congress will actually pass a Rand Paul bill that simply requests for the Federal Reserve to be audited. After all, they’re the central bank for the world now, rigging markets and fixing rates almost on demand. There are a lot of people with a lot of questions for the Fed — an entity who presides over an unlimited balance sheet and the power to both print fiat currency at will and to increase the amount of interest it charges the U.S. government.

Any person or entity under the auspices of the SEC or FINRA is forced to undergo routine audits, just to make sure everything is kosher. Why isn’t the same standard used for the Fed?

Rand Paul wants to change that and he says it has the support of President elect Trump.

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It’s worse than I even thought…coming on the heels of massive closures from past 18 months…shows you the bleeding…..also notice how MSM now talking about high end property crumbling….things much worse and now the admission has begun….have to wonder if things are truly changing in media….another 30 days and we will know…Obamacare going down is a start….

CIGA David

Macy’s Posts Disappointing Holiday Sales, Likely To Cut 10,000 Workers And Move Forward With Store Closures
January 4, 2017

People carry retail shopping bags during Black Friday events on November 25, 2016 in New York City.

Holiday aftermath leaves retail wreck in its wake.

Macy’s shares tumbled more than 9 percent after the market’s close Wednesday after it posted disappointing holiday sales and released the locations of 68 of the 100 stores it plans to close as it looks to turn around its performance.

Macy’s comparable sales fell 2.1 percent in November and December, which was at the low end of its previous guidance. It maintained its 2016 comparable sales guidance of a 2.5 percent to 3 percent decline, but expects full-year diluted earnings to be in a range of $2.95 to $3.10. It had previously been expecting $3.15 to $3.40.

Macy’s outgoing Chairman and CEO Terry Lundgren said the company expects “our 2017 change in comparable sales to be relatively consistent with our November/December sales trend.”

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So you ruin people lives, take money from them and just pay a fine and get off the hook! “Justice” — that is funny!

CIGA Gijsbert

Jim Sinclair’s Commentary

The rule of law depends on who you are.

Jon Corzine Settles Over MF Global Collapse: Agrees To Lifetime Ban, $5 Million Fine
January 5, 2017

Three years ago, in February 2013, traders were outraged upon learning that the National Futures Association refused to ban former MF Global chief Jon Corzine from trading with other people’s money, rejecting a motion brought before that body’s board of directors to do so. The decision was a blow to a vocal group within the commodities trading world who – noting that Corzine has not been held accountable by the government for alleged crimes – wanted to see him publicly upbraided by his peers in the market.

All that changed today when Corzine agreed to pay a $5 million civil fine to settle a lawsuit by the U.S. Commodity Futures Trading Commission over the 2011 collapse of the former New Jersey governor’s brokerage, MF Global Holdings. More importantly, under the settlement disclosed on Thursday, Corzine also agreed to be barred for life and never again work for a futures commission merchant, or register with the CFTC in any capacity.

Which means Corzine’s dreams of running a hedge funds are now over.

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