Posted at 10:27 PM (CST) by & filed under Jim's Mailbox.

Jim,

Waste of time for those well within the safety of the 21 day incubation period. If you’re not sick at the screening you may be later after you mingle in the population for a number of days. Big biological experiment ongoing and we are the mice.

CIGA Dr. K.

New York airport is first in US to screen passengers for Ebola symptoms
Jessica Glenza in New York, David Batty and agencies
theguardian.com, Saturday 11 October 2014 20.14 BST

New York’s JFK airport on Saturday began screening passengers from the west African countries worst affected by Ebola, in an attempt to halt the international spread of the outbreak that has killed more than 4,000 people.

JFK is the first of five US airports to start enhanced screening of passengers from the countries worst hit by Ebola: checks will begin in the next few days at O’Hare in Chicago and at Newark, Washington DC’s Dulles and Atlanta.

Teams equipped with thermal guns will take the temperatures of travellers from Liberia, Sierra Leone and Guinea and ask them questions about their possible exposure to the virus as they enter the US.

“Already there are 100% of the travelers leaving the three infected countries are being screened on exit. Sometimes multiple times temperatures are checked along that process,” Dr Martin Cetron, director of the division of global migration and quarantine for the Centers for Disease Control and Prevention (CDC), said at a Saturday briefing at JFK.

Cetron added: “No matter how many procedures are put into place, we can’t get the risk to zero.”

More…

Posted at 9:45 AM (CST) by & filed under In The News.

The majority is never right. Never, I tell you! That’s one of these lies in society that no free and intelligent man can ever help rebelling against. Who are the people that make up the biggest proportion of the population — the intelligent ones or the fools? I think we can agree it’s the fools, no matter where you go in this world, it’s the fools that form the overwhelming majority.
– Henrik Ibsen (1828-1906) Norwegian playwright, theatre director, and poet

Jim Sinclair’s Commentary

The barrel might be turning.

- Broad U.S. Economy Is Not Growing 
- Sharp Deterioration Likely Will Continue in Domestic and Global Financial-Market, Economic and Political Stability 
- Confluence of Crises: U.S. Economy, Stocks and Dollar

"No. 664: Market and Economic Instabilities" 
Web-page: http://www.shadowstats.com

Fed Worried About Triggering Another ‘Taper Tantrum’
By Christopher Condon and Jeff Kearns Oct 8, 2014 6:38 PM ET

Federal Reserve officials meeting last month worried that changing their commitment to keep interest rates low for a “considerable time” would shake financial markets, minutes of the gathering show.

“Changes to the forward guidance might be misinterpreted as a signal of a fundamental shift in the stance of policy that could result in an unintended tightening of financial conditions,” according to a record of the Federal Open Market Committee meeting on Sept. 16-17 released today.

Officials opted instead to let their statement “evolve” at an undisclosed pace. Analysts said that although the minutes shed little light on when forward guidance would change, it was clear that officials wanted to avoid repeating missteps from last year.

“This likely reflects the scars from the ‘taper tantrum’ last summer,” when then-Fed Chair Ben Bernanke signaled that asset purchases might be scaled back sooner than investors expected, according to a note to clients from Bank of America Corp. Bernanke’s comments caused a jump in Treasury yields.

Fed officials last month questioned the signal their pledge was sending, and Dallas Fed President Richard Fisher and Philadelphia’s Charles Plosser dissented over the statement.

The meeting explored options on how to replace the forward guidance, including a numerical threshold based on the inflation outlook, as well as relying on quarterly Fed projections for the future path of the benchmark funds rate.

This debate yielded no conclusions on how the Fed would proceed, apart from acknowledging it would be a tricky process.

More…

 

Jim Sinclair’s Commentary

It starts small but ends up national.

WOW! Angry Staff at EBOLA HOSPITAL Throw Gloves And Vent RAGE At Spanish PM

 

Jim Sinclair’s Commentary

Civil rights to be suspended in Connecticut.

Public Health Emergency Declared In Connecticut Over Ebola: Civil Rights Suspended Indefinitely
Tyler Durden on 10/10/2014 14:53 -0400

We warned a week ago of the various possibilities surrounding an Ebola outbreak in America, and today we get some degree of confirmation of a medical-based martial-law coming to the US. Governor Dan Malloy has declared a Public Health Emergency in Connecticut, authorizing the "isolation of any individual reasonably believed to have been exposed to the Ebola virus." Simply put, as we noted previously, the State of Public Health Emergency allows bureaucrats to detain and force-vaccinate people without due process – despite not one single case being found in CT. If there is a major Ebola pandemic in America, all of the liberties and the freedoms that you currently enjoy would be gone.

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Jim Sinclair’s Commentary

This is exactly how Pol Pot got started. Isis is going to get increasingly serious in the region.

ISIS encroaches on ultimate prize in Iraq
Oct 10, 2014 12:41 PM EDT

BAGHDAD — Militants of the Islamic State of Iraq and Syria (ISIS) have infiltrated one of Baghdad’s outer suburbs, Abu Ghraib which is only eight miles from the runway perimeter of Baghdad’s international airport.

It’s cause for serious concern now that the Iraqi Defense Ministry has confirmed ISIS has MANPADs, shoulder fired anti-aircraft missiles.

The Iraqi army is still patrolling Abu Ghraib, but they play cat and mouse with the ISIS fighters who stage hit and run attacks on security forces.

It’s a mixed picture around the city. ISIS took over the city of Fallujah — only about 40 miles west of Baghdad — in January, and the Iraqi security forces have fought in vain for a year to force them out.

Instead, and in spite of weeks of U.S.-led airstrikes, ISIS has gradually extended its reach. The extremist group is now either present or in control of a huge swath of countryside, forming a 180-degree arc around the Iraqi capital from due north around to the west, and all the way to the south.

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Jim Sinclair’s Commentary

This would be a massive PR victory for the Yuan. Expect Washington to pull out all the stops on pressure not to have the Yuan in Euro reserves.

ECB Weighing First Step to Buying Yuan for Foreign Reserves
By Stefan Riecher and Jeff Black Oct 10, 2014 1:29 PM ET

The European Central Bank will discuss next week whether to begin laying the groundwork to add the Chinese yuan to its foreign-currency reserves, according to two people with knowledge of the matter.

Governing Council members gathering in Frankfurt for their Oct. 15 mid-month meeting will consider the move, said the people, who asked not to be named because the discussions aren’t public. Should officials eventually decide to buy the currency, initial purchases would be small and might start in a year at the earliest, one of the people said.

Such a measure by the ECB would mark a major step in the internationalization of China’s currency, also known as the renminbi. While China is the world’s second-largest national economy, the yuan isn’t ranked among the most-held foreign reserve assets, according to data from the International Monetary Fund. The U.S. dollar leads at 61 percent of holdings.

The agenda of the Governing Council is confidential, an ECB spokesman said, declining to comment further on the matter.

Speaking in Washington today, former Bundesbank President Axel Weber predicted a greater international role for the yuan.

“The emergence of the renminbi will be a big factor,” he said. “You will have an appreciation of the renminbi.”

The ECB’s push comes against a backdrop of global central bank diplomacy to ease the way for China’s currency, after a series of swap agreements on emergency liquidity.

More…

Jim Sinclair’s Commentary

There will be Ebola related medical staff problems.

Madrid hospital staff quit over Ebola fears
Carlos III hospital treating virus-hit nurse Teresa Romero Ramos suffers staff shortage amid concerns over training and safety
Ashifa Kassam in Madrid
The Guardian, Friday 10 October 2014 07.12 EDT

Carlos III hospital in Madrid is scrambling to contract extra personnel as worries about lack of training and safety standards have left some staff refusing to attend to possible Ebola cases.

Fourteen people are in quarantine, including four health workers who treated Teresa Romero Ramos, the Spanish nurse who contracted the virus after treating an Ebola patient repatriated from Sierra Leone. Seven people including two hairdressers who had given Romero a beauty treatment before she was diagnosed with Ebola turned themselves in late on Thursday to the isolation unit. None had so far tested positive for the disease except Romero, whose condition was described by the hospital as serious but stable. Her treatment has included injections with antibodies extracted from the blood of Ebola survivors.

While no official numbers were available, Elvira González of the SAE nurses’ union said fear of Ebola had caused some staff to refuse to treat certain patients, while others had resigned their posts.

Amid concerns over inadequate training and safety standards, one health worker told El País newspaper that many staff members were making excuses to avoid work. “They are saying they’ve got their period, that they’re getting dizzy, that they’re claustrophobic … People get anxious and they can’t work like that, being so nervous.”

Others worry about being stigmatised. “Their children aren’t being invited to birthday parties and their friends are cancelling joint vacation plans,” Juan José Cano of Satse, a nursing union member, told El País. “They’ve become known as the Ebola nurses. And it’s not fair.”

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Jim Sinclair’s Commentary

Sanctions blow back. Who is benefiting in the end?

Lebanon to Strengthen Cooperation With Russia: Ambassador
15:43 10/10/2014

MOSCOW, September 10 (RIA Novosti) – Lebanon will continue its long-standing cooperation with Russia, Lebanon’s Ambassador to Russia, Chawki Bou Nassar, said in an interview with RIA Novosti Friday.

"Lebanon supports friendly relations with Russiaon all issues concerning the situation in Arab countries. In 2006, after the Israeli aggression in Lebanon, Russia sent technology to assist in the reconstruction and restoration of Lebanon," Nassar said.

The ambassador noted that Lebanon plans to purchase Russian weapons, using part of the remaining funds it has received from Saudi Arabia. The purchases were discussed during the visit of a Lebanese military delegation to Moscow last week.

"Saudi Arabia has allocated financial aid [to Lebanon]. We will be buying Russian weapons," Nassar said.

According to the ambassador, Lebanon will also be working on developing trade cooperation with Russia, especially in view of the economic sanctions that have been imposed against Moscow by the West.

"Of course Lebanon cannot fill the Russian market with fruits and vegetables [to the full], but we can supply them as a token of support for Russia," Nassar said.

More…

Russia, UAE considering payments in national currencies
16:22 October 10, 2014 Interfax

Russia and the United Arab Emirates (UAE) are considering making payments in their national currencies, Industry and Trade Minister Denis Manturov and UAE’s Minister of Foreign Affairs Sheikh Abdullah bin Zayed Al Nahyan told journalists after a meeting. "This question was raised today for practically the first time ever, so it requires further review by specialists of both countries. But it has been added to the agenda and is being analyzed," Manturov said. Nahyan said the question of payments in national currencies was complex since the UAE’s currency, the dirham, is very closely connected with the dollar. "This creates added difficulties, but there are ways these difficulties can be overcome. From a political standpoint, the UAE is set on full cooperation with Russia. If there is the political will, then the technical difficulties can be overcome," he said.

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Posted at 1:23 AM (CST) by & filed under General Editorial.

Dear CIGAs,

We are happy to announce the next upcoming Q&A session will be held in South San Francisco, CA.

Date:

Saturday, November 15th, 2014 from 10am-3pm

Where:

Holiday Inn San Francisco International Airport
275 South Airport Blvd
South San Francisco, CA 94080

Cost:

A fee of $100.00US can be made in advance with any major credit card via the PayPal button on the webpage linked below (no PayPal account required). Please be sure to print out your transaction receipt as this will be your registration, confirmation and entry ticket to the meeting. No further confirmation will be sent.

Click here to purchase tickets…

If you prefer, you may alternatively pay $100.00US by cash, bank check or money order made payable to James Sinclair at the door. If you choose this option, you must pre-register via email with Anna Stoerzinger at [email protected]. Please be sure to note your name and number of seat(s) in your email. A confirmation will be sent to you within 5 business days to confirm this pre-registration.

We look forward to seeing you there!
Jim

Posted at 10:37 AM (CST) by & filed under In The News.

Medical Bill for First Person Diagnosed With Ebola in US Could Cost $500,000: Analyst
01:26 09/10/2014

WASHINGTON, October 9 (RIA Novosti) – The final medical bill for a Liberian native who was the first person to test positive for Ebola in the United States could range from $250,000 to as much as $500,000, a Washington D.C. health think tank analyst told RIA Novosti.

“It’s hard for hospitals to deal with these kinds of outlier situations,” said Dan Mendelson, the Chief Executive Officer of Avalere Health. “In the case of Ebola, there are the treatment costs, but also the costs of security, isolation.”

Another high cost that comes along with Ebola is disposing contaminated trash and equipment used to treat the patient.

Thomas Eric Duncan died fighting the disease at the Texas Health Presbyterian Hospital in Dallas, Texas on Wednesday where he was admitted for treatment on September 28.

Avalere Health further estimated that the average cost per day for treating a patient with an infectious disease is about $10,000 and that the average cost of treatment in the intensive care unit is roughly $14,000.

It is still not clear if the Dallas hospital will charge Duncan, and if they decide to do so, who will pay for it.

Secretary of State John Kerry urged the international community Wednesday to contribute more money to the Ebola response effort in West Africa. He said that although the region has had a lot of financial help already, that Ebola is a very costly disease that requires a lot of resources such as treatment units, test labs, medical evacuation capacity and technical support.

“The fact is more countries can and must step up in order to make their contributions felt,” said Kerry during a press briefing.

More…

Jim Sinclair’s Commentary

This is the path to a reserve currency by popular demand.

China Outlines Plan to Ease Capital Controls, Boost Yuan Use
By Bloomberg News 
October 09, 2014 5:35 AM EDT

China outlined plans to allow citizens to invest in overseas stocks and property as well as let the nation’s companies sell yuan-denominated shares abroad, furthering efforts to internationalize its currency.

Chinese nationals will be able to buy equities and real estate via a Qualified Domestic Retail Investor scheme, Wang Dan, a deputy director general at the central bank, said today at a conference in Beijing. There are also talks under way to give locals access to yuan capital markets in Singapore and London, she said, without giving any start dates or sizes for the programs. Agricultural Bank of China Co. announced plans today to become the first company to offer yuan-denominated Global Depository Receipts in London.

China, which is also scheduled to start an exchange link between Hong Kong and Shanghai this month, is seeking to give its citizens more investment channels amid a slumping property market and increased risks from local wealth-management products. The world’s second-largest economy is also trying to promote use of the yuan, which ranked seventh for global payments in August from 12th a year earlier.

“It’s a continuation of yuan internationalization and capital-account liberalization,” said Yii Hui Wong, Singapore-based currency and rates strategist at BNP Paribas SA. “Singapore is a hub for Southeast Asia and the U.K. is in a different time zone altogether, connecting China to European investors. They won’t just have Hong Kong and be dependent on Hong Kong only.”

More…

1.8 million fleeing ISIS in ‘deadly, life-threatening’ situation – UN
Published time: October 09, 2014 14:05

A total of 1.8 million people are in a “deadly, life-threatening situation” according to a UN report on Iraq. Their lives are in danger daily, while the influx of refugees is putting strain on locals – and schools have been delayed from opening.

The displaced people are being forced to take shelter wherever they can – even under bridges, and there are often not even blankets for them.

“I couldn’t bring anything with me,” refugee Sabria Suleiman told RT. “The only thing I have left is the children’s ID cards.”

Sabria’s and Ayham Suleiman fled with their family when radical Islamic State militants were attacking their settlement. They didn’t have time to take their belongings with them.

“We don’t really know what will happen. When we arrived here, we just followed other families to the school. We get no help from the authorities – we don’t even have blankets to keep us warm,” Marwan Murad Sabria, another member of the family, told RT.

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Jim Sinclair’s Commentary

Sanctions blowback.

China plans to sign about 50 agreements with Russia
October 09, 9:25 UTC+4

BEIJING, October 9. /TASS/. Prime Minister of Chinese State Council Li Keqiang will visit Russia on October 12-14.

The two countries plan to sign around 50 inter-governmental, inter-departmental and corporate documents on different aspects of bilateral cooperation, Chinese Deputy Foreign Minister Cheng Guoping said.

“This will be his first visit to Moscow as the prime minister of Chinese State Council. We hope that this visit will promote stronger political trust, higher mutual support between Russia and China in the field of sovereignty and territorial integrity,” Cheng Guoping said. China also plans “to build up practical cooperation with Russia in aviation and space, energy, high-speed railways, finance, innovations and projects for infrastructure development,” he added. Beijing will “develop humanitarian exchanges, particularly during the Year of Youth Exchanges between Russia and China, as well as joint preparation for celebrations on the occasion of the 70th anniversary of the Victory in World War II in 2015.” “China intends to expand cooperation with Russia in international issues,” the country’s deputy foreign minister added.

During the visit, Li Keqiang will focus on developing energy cooperation with Russia, Cheng Guoping said. “Gas cooperation is an important aspect of Russian-Chinese energy cooperation. Russia and Chinese energy agencies are working closely on creating ‘a western route’ (for Russian gas supplies to China). We hope to reach progress in this issue this year,” the Chinese high-ranking diplomat noted.

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Jim Sinclair’s Commentary

So it begins.

LaGuardia Airport cabin cleaners walked off the job claiming unsafe, unsanitary conditions
EXCLUSIVE: The workers, all of whom operate out of Terminal D, say they’re not properly equipped to handle the hazardous materials they regularly come into contact with — including blood, feces and hypodermic needles.
BY Rich Schapiro
Thursday, October 9, 2014, 12:38 AM

Fed up over what they say are unsafe and unsanitary working conditions, dozens of LaGuardia Airport cabin cleaners walked off the job Wednesday night.

The workers, all of whom operate out of Terminal D, say they’re not properly equipped to handle the hazardous materials they regularly come into contact with — including blood, feces and hypodermic needles.

“I have to deal with vomit, feces and a lot of chemicals, without proper equipment,” cleaner Johanna Cruz, 33 and from Queens, told the Daily News. “They give us gloves, but they might as well be made of paper because they rip so easily.”

Cruz and other workers complained they are transported to and from the planes in beat-up vans lacking seat belts. They receive little to no training for properly disposing of blood and other bodily fluids. And, they say, their pleas for better equipment are met with shrugs.

“They don’t care about our safety,” said Cruz, who like all of the striking workers is employed by Air Serv.

More…

Posted at 6:13 PM (CST) by & filed under In The News.

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Jim Sinclair’s Commentary

Totally outrageous. You might as well kill our kids.

Excalibur looks just like my Angel. You have no idea how dedicated dog people are. I would do anything to save my puppies.

They shoot Ebola dogs, don’t they? Outrage at Spain’s killing of infected nurse’s dog
Published time: October 08, 2014 17:56

The dog belonging to the Spanish nurse confirmed to have Ebola has been killed, despite a massive social media campaign and vigil by animal rights activists outside her flat.

The mixed-breed canine, called Excalibur, was finally put to sleep in the Complutense University of Madrid veterinary hospital on Wednesday at 14:30 local time, the Spanish daily El Mundo reports, citing sources at the university.

Sanitary authorities wearing special protective clothes forced their way into the home of Teresa Romero Ramos and her husband, Javier Limon, on Wednesday afternoon, after a judicial order from a Madrid court had granted special permission for entering the house, Spain’s EFE news agency reported.

The Madrid city government ordered the dog’s death Tuesday as a preventative measure to stop further infection.

Excalibur had been left home alone by the couple after they were both admitted to hospital Monday.

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Jim Sinclair’s Commentary

We would never do anything like that, would we?

Census Bureau Worker Blows The Whistle On The Employment Report
October 8, 2014

When I spoke with this whistleblower earlier this year as part of my investigation of Census, she told me that hundreds of interviews that go into the Labor Department’s unemployment rate and inflation surveys would miraculously be completed just hours before deadline.   John Crudele, NY It’s pretty much been accepted for many years now that the economic data being reported by the Government is unreliable and fraudulently manipulated.  Toxicity + toxicity does not equal purification.   Not only does the Government manipulate the data to suit its needs – like reporting a sub-6% unemployment rate a month before mid-term national elections – but the data itself is one big fraud.

A whitleblower from the Denver Census Bureau office has opened up to the NY Post’s John Crudele.  I’m sure she took the story first to the Denver Post.  But the Denver Post is nothing more than a megaphone for whatever news the powers that be want the hoi polloi to ingest.  For instance, the Denver Post did not even report the story on the Goldman Sachs/Fed tapes.

At any rate, I encourage everyone to read the article linked at the top.  In a testament to the complete criminality that has engulfed our political and economic system, I’m sure this story will be swept under the rug and this whistleblower will be silenced.

More…

Ebola virus: answering the 10 questions you were afraid to ask
Larry Elliott in Washington
The Guardian, Wednesday 8 October 2014 16.26 EDT

The president of the World Bank, Jim Kim, admitted on Wednesday that the international community had “failed miserably” in its response to the Ebola virus that has killed more than 3,800 people in west Africa and warned that the crisis now affecting Spain and the US was going to get much worse.

Amid signs that western governments were being forced to take the risks of a global pandemic more seriously, Kim said he wanted them to back a new $20bn (£12bn) global health fund that would be able to react instantly to emergencies.

“It’s late. It’s really late,” he said in an interview with the Guardian before the annual meeting of the Washington-based organisation this weekend.

“We should have done so many things. Healthcare systems should have been built. There should have been monitoring when the first cases were reported. There should have been an organised response.”

Kim’s warning that the global community was still not “moving fast enough” came as the Ebola virus claimed its first victim in the US and news of a case in Spain sent shares in travel and airline companies tumbling on stock exchanges.

More…

FOMC Talks Down Dollar, Fears Growth Slowdown, "Considerable Time" Misunderstood
Tyler Durden on 10/08/2014 14:04 -0400

With the S&P down over 3% from September’s FOMC statement, the market needed some ‘good’ news from the Fed minutes to save the ‘wealth’ that has been created…

*FED OFFICIALS SAW GLOBAL SLOWDOWN AMONG RISKS TO U.S. OUTLOOK (growth)

*FOMC SAID SOME DEVELOPMENTS COULD UNDERMINE FINANCIAL STABILITY (bubbles)

*FED SAW RISING DOLLAR AS RISK TO EXPORTS, GROWTH, MINUTES SHOW (jawbone USD)

So The Fed fears bubbles, fears growth slowing down, and appears to be talking down the dollar. In other word, dovish minutes confirming the dovish statement was indeed dovish.

Pre-FOMC Minutes: S&P Futs 1936.50, 10Y 2.38%, USDJPY 108.75, Gold $1206

The last FOMC Statement and Minutes day performance…

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Some of the key sections: on bubble fears:

Bankers in one District stated that, while they had eased the terms and conditions on loans in response to competition from other lenders, they had not taken on riskier loans. Some financial developments that could undermine financial stability over time were noted, including a deterioration in leveraged lending standards, stretched stock market valuations, and compressed risk spreads.

More…

Ebola Scare Sends Dallas County Sheriff’s Deputy To Hospital
October 8, 2014 1:50 PM
Updated 4:30 p.m.

FRISCO (CSBDFW.COM) – First responders have transported a Dallas County Sheriff’s deputy to Texas Health Presbyterian Hospital to be monitored for Ebola as a precaution.

The patient, Michael Monnig, was transported from a Frisco Care Now facility where he was complaining of “stomach issues,” according to sources.

Monnig’s children told CBS 11’s Andrea Lucia that their dad woke up this morning feeling sore and a little nauseated.

“We were told by federal officials, county officials that you would have to come in direct contact with Duncan or direct contact with bodily fluids, and he did not,” said Monnig’s son, Logan, about the possibility of his dad contracting Ebola.  Logan said it’s a very scary time for his family, but they do not expect that his dad will test positive for the virus.

Monning was not one of the 48 people being monitored by federal, state and local health officials because he never had direct contact with the patient.  Monnig did enter the apartment where Duncan stayed after Duncan had been admitted to the hospital.

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Jim Sinclair’s Commentary

Sanctions blow back.

German Industrial Output Drops Most Since 2009 in August
By Jana Randow  Oct 7, 2014 9:39 AM ET 

German industrial production (GRIPIMOM) fell more than economists forecast in August in the latest sign that the outlook for Europe’s largest economy is deteriorating.

Production, adjusted for seasonal swings, dropped 4 percent from July, when it expanded 1.6 percent, the Economy Ministry in Berlin said today. That’s the biggest decline since January 2009 and compares with a median estimate of 1.5 percent in a Bloomberg News survey.

Germany’s economy is losing momentum as sluggish growth in the euro area, its largest export market, and political tension with Russia weigh on confidence. The European Central Bank has enacted unprecedented stimulus to sustain the regional recovery while calling on governments to press ahead with structural reforms.

While “the setback in industrial production in August was a massive one,” there is “no reason to panic,” said Andreas Rees, chief German economist at UniCredit MIB in Munich. “German industrial activity will soften in coming months as already indicated by business sentiment but not tumble into the abyss. And no, there is no reason to dig up the R-word again.”

Weak economic data released in the past weeks have raised the specter of recession, commonly defined as two consecutive quarters of declining gross domestic product, after the German economy shrank in the second quarter.

More…

Popular Movement in Switzerland Looks to Repatriate Gold and Increase Reserves

There is a peoples’ movement in Switzerland to repatriate their gold and increase the percentage of gold reserves. This story has received very little attention in the media, even within the precious metals community. It could have significant ramifications for the gold market, increasing central bank demand and putting upward pressure on the gold price.

This November 30th, a popular Swiss Gold Referendum is going to a vote. Nearly one-third of the Swiss Franc used to be guaranteed by gold reserves, now it’s less than 8 percent.

If this vote goes through, the Swiss will be forced to raise the gold reserve back up to 20 percent.

Radio host Charles Goyette has spoken with Ron Paul about central banks at great length on his radio show. In the video below, he gives his input on the Swiss Gold Referendum.

The “Save our Swiss gold” referendum contains the following key elements:

The SNB should stop selling its gold.

The gold has to be stored in Switzerland.

Gold should represent at least 20% of the SNB assets

if the referendum passes the Swiss National Bank would have to buy about 1,500 tons of gold over the next three years. This equates to half of the world’s annual production and they would have to compete with China to secure supplies. COMEX manipulators can keep the paper prices low for so long, but eventually the overwhelming demand for physical is going to blow up that fraudulent exchange.

More…

"We Can’t Exclude The Possibility That Ebola Can Spread Through The Air," Expert Warns
Submitted by Tyler Durden on 10/08/2014 10:16 -0400

"At this point there is zero risk of transmission on flights," said CDC Director Dr. Thomas Frieden, supporting other public health officials who have voiced similar assurances, saying Ebola is spread only through physical contact with a symptomatic individual or their bodily fluids. However, as The LA Times reports, some scientists who have long studied Ebola say such assurances are premature – and they are concerned about what is not known about the strain now on the loose. Dr. C.J. Peters, who battled a 1989 outbreak of the virus, and who later led the CDC’s most far-reaching study of Ebola’s transmissibility in humans, said he would not rule out the possibility that it spreads through the air in tight quarters…"We just don’t have the data to exclude it."

As The LA Times reports, officials continue to stress how hard it is to get infected by Ebola…

"Ebola is not transmitted by the air. It is not an airborne infection,"said Dr. Edward Goodman of Texas Health Presbyterian Hospital in Dallas, where the Liberian patient remains in critical condition.

…Public health officials have voiced similar assurances, saying Ebola is spread only through physical contact with a symptomatic individual or their bodily fluids.

Yet some scientists who have long studied Ebola say such assurances are premature – and they are concerned about what is not known about the strain now on the loose. It is an Ebola outbreak like none seen before, jumping from the bush to urban areas, giving the virus more opportunities to evolve as it passes through multiple human hosts.

Dr. C.J. Peters, who battled a 1989 outbreak of the virus among research monkeys housed in Virginia and who later led the CDC’s most far-reaching study of Ebola’s transmissibility in humans, said he would not rule out the possibility that it spreads through the air in tight quarters.

"We just don’t have the data to exclude it," said Peters, who continues to research viral diseases at the University of Texas in Galveston.

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Jim Sinclair’s Commentary

This is well ahead of schedule.

China Just Overtook The US As The World’s Largest Economy
Mike Bird

Sorry, America. China just overtook the US to become the world’s largest economy, according to the International Monetary Fund.

Chris Giles at the Financial Times flagged up the change. He also alerted us back in April this year that it was all about to happen.

Basically, the method used by the IMF adjusts for purchasing power parity, explained here.

The simple logic is that prices aren’t the same in each country: A shirt will cost you less in Shanghai than San Francisco, so it’s not entirely reasonable to compare countries without taking this into account. Though a typical person in China earns a lot less than the typical person in the US, simply converting a Chinese salary into dollars underestimates how much purchasing power that individual, and therefore that country, might have. The Economist’s Big Mac Index is a great example of these disparities.

So the IMF measures both GDP in market exchange terms, and in terms of purchasing power. On the purchasing power basis, China is overtaking the US right about now and becoming the world’s biggest economy.

We’ve just gone past that cross-over on the chart below, according to the IMF. By the end of 2014, China will make up 16.48% of the world’s purchasing-power adjusted GDP (or $US17.632 trillion), and the US will make up just 16.28% (or $US17.416 trillion):

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Jim Sinclair’s Commentary

Resigning now will not prevent a legal look back.

Two leading HSBC directors quit in protest at tough new rules that will punish reckless bankers with jail terms
UK board member Alan Thomson is planning to leave at the end of this month while John Trueman, the deputy chairman, is preparing to resign
Regulator want senior banking executives to be criminally liable if bank fails because of their ‘reckless’ actions

By Daily Mail City & Finance

Published: 18:41 EST, 7 October 2014 | Updated: 09:10 EST, 8 October 2014

Two directors of HSBC’s operations in the UK have quit in protest ahead of tough new rules that could result in jail terms for reckless bankers.

Alan Thomson, who is on the board of the international bank’s UK subsidiary, is planning to leave at the end of this month – and John Trueman, the deputy chairman, is preparing to resign but has not yet formally done so.

The moves come as proposals for rules to make senior bankers more accountable were unveiled by the regulators.

The Prudential Regulation Authority is consulting on proposals until the end of this month under which senior staff could face criminal liability if their bank fails and they are subsequently found guilty of reckless misconduct.

Under the regime, which regulators want to be in force by January next year, the onus would be on bankers to prove they behaved appropriately.

Critics say this amounts to an overturning of the principle of innocent until proved guilty and claim banks will struggle to attract high quality directors.

Andrew Tyrie MP, chairman of the Treasury Committee, said: ‘A buck that does not stop with an individual often stops nowhere.’

The PRA has this week set out boardroom governance and legal requirements for the regime of ‘ring-fencing’ that will force banks to separate their casino operations from their retail arms.

The banks have been given until January to submit their plans for ring-fencing, which aims to protect depositors and taxpayers from collapses.

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Posted at 6:07 PM (CST) by & filed under Jim's Mailbox.

Jim,

I wanted to forward you something which I believe is quite important. There are currently ongoing discussions about some accounting changes in Europe. Below you can find the links to the Discussion Papers and a summary of the proposed changes:

1. For any managed exposures within a portfolio, only the managed risk will be required to be valued at fair market value; the managed exposures will not.

2. New IFRS rules will only be adopted in the EU if they are favourable to the public good, do not jeopardise financial stability and do not hinder EU’s economic development.

Forget about true and fair representation, which is what accounting should be about. Going forward, there will be even more mis-presentation and more obfuscation… all in an attempt to make the system look sound.

It is all too clear how this is going to end!

Sincerely,
CIGA Rose

IASB publishes Discussion Paper on accounting for macro hedging
17 April 2014
(Excerpts from article)

“As part of its comprehensive response to the global financial crisis, the IASB is replacing IAS 39 with an entirely new financial instruments accounting Standard, known as IFRS 9 Financial Instruments…  However, the IASB decided to treat as a separate project the macro hedging component of these reforms. The Discussion Paper published today represents the first stage in this project:

· Exposures that are risk-managed dynamically would be revalued for changes in the managed risk through profit or loss.

· Fair value changes arising from risk management instruments that are used to manage this risk (derivatives) would also be recognised in profit or loss.

· The success of an entity’s dynamic risk management is captured by the net effect of the above measurements in profit or loss.

· Fair valuation of the risk exposures that are dynamically managed is not required.”

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Dear Jim,

Big deal! It incubates for 21 days. If you contact someone, just get on a plane to Europe or the good old USA and your survival chances increase. You will never be detected early enough to stop your journey.

CIGA Dr. D

Five US airports to begin Ebola screenings for west Africa arrivals
Announcement comes amid mounting concern that not enough controls in place to prevent deadly disease from entering US
Lauren Gambino in New York
theguardian.com, Wednesday 8 October 2014 23.49 BST

Passengers travelling from west Africa will face additional Ebola screenings at five US airports, the White House said on Wednesday, amid mounting concern that not enough controls were in place to prevent the deadly disease from entering the US.

The additional screenings will be carried out by personnel from US Customs and Border Protection, US Coast Guard and the Centers for Disease Control and Prevention. Enhanced screenings will begin at John F Kennedy airport in New York on Saturday. They will begin next week at Liberty airport in Newark, New Jersey; Dulles, outside Washington DC; Chicago O’Hare, and Hartsfield-Jackson in Atlanta.

“These measures are really just belt-and-suspenders,” President Barack Obama told state and local officials on Wednesday. “It’s an added layer of protection on top of the procedures already in place at several airports.”

Passengers flying from the disease-ravaged west African countries already face screenings at their departure airport which include temperature checks and questionnaires about their exposure history.

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Posted at 12:47 PM (CST) by & filed under In The News.

Connecticut Governor Declares State of Emergency Over Ebola as a Precaution

The order gives the state the authority to quarantine and isolate people who may have been exposed to the virus
Tuesday, Oct 7, 2014 • Updated at 4:27 PM EDT

Connecticut Gov. Dannel Malloy has declared a public health emergency for the state as a precaution during the Ebola epidemic that is affecting several countries in western Africa.

He signed an order declaring the emergency on Tuesday and it gives the commissioner of the state Department of Public Health the authority to quarantine and isolate people whom the commissioner “reasonably believes has been exposed to the Ebola virus.”

Malloy said this is not in response to any specific case, but is meant to provide state health officials with the authority necessary to “prevent any potential transmission of the Ebola virus within the State of Connecticut,” the letter says.

“We are taking this action today to ensure that we are prepared, in advance, to deal with any identified cases in which someone has been exposed to the virus or, worst case, infected,” Malloy said in a statement. “Our state’s hospitals have been preparing for it, and public health officials from the state are working around the clock to monitor the situation. Right now, we have no reason to think that anyone in the state is infected or at risk of infection. But it is essential to be prepared and we need to have the authorities in place that will allow us to move quickly to protect public health, if and when that becomes necessary. Signing this order will allow us to do that.”

Without the declaration of emergency, officials have no statewide ability to isolate or quarantine people who might have been exposed or infected. Instead, each individual local public health director would have the authority, according to the governor’s office.

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Jim Sinclair’s Commentary

This is prevalent in every important market internationally.

Banker admits Libor fraud conspiracy
7 October 2014 Last updated at 06:08 ET

A senior banker from a UK bank has admitted conspiring to defraud over manipulating the Libor lending rate.

The banker, who can not be named for legal reasons, is the first person in the UK to plead guilty to the offence.

Two men have already pleaded guilty in the US to fraud offences linked to the rigging of Libor, for years the benchmark by which trillions of pounds of financial contracts are based.

The case arose from the Serious Fraud Office’s (SFO) investigations.

It began looking into Libor manipulation in 2012 after it emerged that it was being widely abused by leading banks to manipulate rates in their favour.

The SFO’s investigation continues and 11 other individuals stand charged and await trial.

Seven banks and brokerages have settled regulatory allegations of interest rate rigging in the UK and the US after global investigations.

So far, 17 men have been charged with fraud-related offences.

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Jim Sinclair’s Commentary

This could cause our and our allies boots on the ground.

NATO promises to protect Turkey against ISIS threat
Published time: October 06, 2014 16:30

NATO will not abandon Turkey if it is attacked by Islamic State fighters which are closing in on the member state’s border from Syria, the alliance’s secretary-general, Jens Stoltenberg, said.

Turkey should know that NATO will be there if there is any spillover, any attacks on Turkey as a consequence of the violence we see in Syria,” Stoltenberg said, as quoted by Reuters.

On Monday, Islamic State (IS, formerly ISIS/ISIL) militants raised their black flag on the eastern outskirts of the Syrian town of Kobani (Ayn al-Arab), which is situated near the Turkish border.

The secretary-general stressed that NATO’s main task is to  protect all allied countries, including Turkey, which joined the alliance in 1952.

Turkey is a NATO ally and our main responsibility is to protect the integrity, the borders of Turkey and that is the reason why we have deployed Patriot missiles in Turkey to enhance, to strengthen the airfence of Turkey," Stoltenberg said during a visit to Poland.

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Jim Sinclair’s Commentary

Confidence in government hangs on a weak string.

‘Protective clothing doesn’t work against Ebola’: Outrage grows after Spanish nurse caught disease DESPITE wearing a safety suit – and WHO now warns more cases in Europe are ‘unavoidable’
By Damien Gayle and Lizzie Parry and Stephanie Linning for MailOnline
Published: 04:13 EST, 7 October 2014 | Updated: 11:19 EST, 7 October 2014

Anger was growing in Spain today over how a nurse became infected with Ebola as it was claimed the protective suits given to health officials were not good enough.

Four suspected Ebola patients are now in hospital in Madrid after the nurse was confirmed as the first person to catch the virus outside of West Africa.

The escalation in Spain’s Ebola outbreak comes as officials revealed 30 people were being monitored for symptoms, including the woman’s husband.

It has also since emerged that a week before she tested positive for Ebola she had contacted health workers to complain of a fever and fatigue, telling them she had helped treat two priests who contracted Ebola in Africa and were repatriated to Spain.

But it wasn’t until she went to her local hospital on Monday that she was finally admitted and tested for the virus.

It is not the same hospital where she worked, raising questions over the number of people she has come into contact with.

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Jim Sinclair’s Commentary

Mickey Mouse needs to be bailed out and Bernanke can’t get a mortgage. Some recovery…

Disneyland Paris goes begging to parent company Walt as theme park reveals it needs £800million bail out to stay open
By Peter Campbell for the Daily Mail and Rachel Rickard Straus for Thisismoney.co.uk
Published: 18:39 EST, 6 October 2014 | Updated: 09:29 EST, 7 October 2014

America’s Walt Disney is poised to take full control of the ailing French firm that runs Disneyland Paris.

After decades of financial losses, Euro Disney yesterday said it required an £800million rescue package to keep the park open.

Despite attracting millions of visitors a year and owning the rights to all of the popular Disney characters, the French-operated theme park has never made a profit since launching in 1992.

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Jim Sinclair’s Commentary

Gold and silver should be on top of this list.

Big Banks Face Another Round of U.S. Charges
By BEN PROTESS and JESSICA SILVER-GREENBERG
OCTOBER 6, 2014 9:30 PMOctober 6, 2014 9:30 pm

The Justice Department is preparing a fresh round of attacks on the world’s biggest banks, again questioning Wall Street’s role in a broad array of financial markets.

With evidence mounting that a number of foreign and American banks colluded to alter the price of foreign currencies, the largest and least regulated financial market, prosecutors are aiming to file charges against at least one bank by the end of the year, according to interviews with lawyers briefed on the matter. Ultimately, several banks are expected to plead guilty.

Interviews with more than a dozen lawyers who spoke on the condition of anonymity to discuss private negotiations open a window onto previously undisclosed aspects of an investigation that is unnerving Wall Street and the defense bar. While cases stemming from the financial crisis were aimed at institutions, prosecutors are planning to eventually indict individual bank employees over currency manipulation, using their instant messages as incriminating evidence.

The charges will most likely focus on traders and their bosses rather than chief executives. As a result, critics of the Justice Department might view the cases as little more than an exercise in public relations, a final push to shape the legacy of Attorney General Eric H. Holder Jr., who was blamed for a lack of criminal cases against Wall Street executives.

Yet the breadth of the suspected wrongdoing in the currency inquiry — Deutsche Bank, Citigroup, JPMorgan Chase, Barclaysand UBS are among the dozen or so banks under investigation — might distinguish it from the piecemeal nature of the crisis-era investigations.

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Jim Sinclair’s Commentary

You have to love the anti Russian sanctions as long as you are not European.

German Industrial Output Drops Most Since 2009 in August
By Jana Randow Oct 7, 2014 6:39 AM MT

German industrial production (GRIPIMOM) fell more than economists forecast in August in the latest sign that the outlook for Europe’s largest economy is deteriorating.

Production, adjusted for seasonal swings, dropped 4 percent from July, when it expanded 1.6 percent, the Economy Ministry in Berlin said today. That’s the biggest decline since January 2009 and compares with a median estimate of 1.5 percent in a Bloomberg News survey.

Germany’s economy is losing momentum as sluggish growth in the euro area, its largest export market, and political tension with Russia weigh on confidence. The European Central Bank has enacted unprecedented stimulus to sustain the regional recovery while calling on governments to press ahead with structural reforms.

While “the setback in industrial production in August was a massive one,” there is “no reason to panic,” said Andreas Rees, chief German economist at UniCredit MIB in Munich. “German industrial activity will soften in coming months as already indicated by business sentiment but not tumble into the abyss. And no, there is no reason to dig up the R-word again.”

More…

"Common People Do Not Carry This Much Currency" – How Police Justify Stealing American Citizens’ Money
Submitted by Tyler Durden on 10/07/2014 12:45 -0400
Submitted by Mike Krieger via Liberty Blitzkrieg blog,

Police confiscating Americans’ hard earned cash, as well as a wide variety of other valuables, without an arrest or conviction is a disturbing and growing practice throughput these United States. Since cops get to keep the seized funds and use the money on pretty much anything they want, the practice is becoming endemic in certain parts of the nation. The theft is often referred to simply as civil forfeiture, or civil asset forfeiture. Incredibly, under civil forfeiture laws your property is incredibly “guilty until you prove it innocent.”

The extent of the problem came to my attention last summer after reading an excellent article by Sarah Stillman in the New Yorker. The article struck such a chord with me, I penned a post highlighting it and addressing the issue, titled: Why You Should Never, Ever Drive Through Tenaha, Texas. That article ended up being one of my most popular posts of 2013.

Fast forward a year, and many mainstream publications have also jumped on the topic. Most notably, the Washington Post published an excellent article last month titled, Stop and Seize, which I strongly suggest reading if you haven’t already.

Fortunately for us all, the issue has also caught the eye of the always hilarious, John Oliver of Last Week Tonight. The following clip from his show is brilliant. Not only is it hilarious, but it will hopefully educate a wider audience about this insidious practice so that it can be stopped once and for all.

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Jim Sinclair’s Commentary

Some great recovery here?

Food Stamp Recipients Top 46 Million for 35th Straight Month

October 7, 2014 – 2:03 PM
By Ali Meyer

(CNSNews.com) – The number of Americans on food stamps has topped 46,000,000 for 35 straight months, according to data from the Department of Agriculture (USDA).

From September 2011 through July 2014, the latest month for which data is available, the number of persons participating in the Supplemental Nutrition Assistance Program (SNAP) has exceeded 46 million. As of July 2014, there were 46,486,434 beneficiaries of the SNAP program.

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While the number of persons participating in SNAP in July declined slightly from the 46,496,252 who were participating in June, the number of households participating increased in that same time frame from 22,714,042 in June to 22,715,583 in July.

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Posted at 11:44 AM (CST) by & filed under Jim's Mailbox.

Jim,

Richard feels the bottom is set and we should be getting ready for a rising market.

CIGA Larry

Richard Russell – We Just Saw Ultimate Bottom In Gold & Silver

Today the Godfather of newsletter writers, 90-year old Richard Russell, said we have witnessed the “ultimate bottom” in the gold and silver markets.  The 60-year market veteran also warned that the world is going to see a new monetary system which will feature gold as the centerpiece.

Russell:  “Currently, the world is beset by a multitude of emergencies. The water shortage and the change in the earth’s climate along with the disasters of Ebola and ISIS must be solved. As a rule, we don’t address problems until they become emergencies. My belief is that in coming years, we will address all potential disasters and emergencies.

World Wars I and II plus the Holocaust may stand out as the worst episodes in human history (other than communist regimes, considered responsible for 85-100 million deaths).  The three worst epidemics in history were the bubonic plague, which wiped out one-third of Europe, the influenza epidemic which killed 50 million people in 1918 and most recently the AIDS scare, which has killed 36 million since its inception, according to the World Health Organization. As a sign of human progress, the world is taking the Ebola epidemic seriously. It remains to be seen whether Ebola can be confined to Africa. Time marches on and the human race really does make progress.

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Jim,

As to why a non-transferable disease is causing officials to go nuts… are they not telling us something??

CIGA JB Slear.

Ebola: Husband of quarantined Spanish nurse says officials want to put down their dog

THE husband of the Spanish nurse infected with Ebola has attacked health chiefs in Madrid after claiming they threatened to put down the couple’s pet dog.
By: Gerard Couzens
Published: Tue, October 7, 2014

Teresa Romero Ramos and Javier Limon Romero are being held in quarantine in separate rooms at the same hospital in the Spanish capital.

Teresa, 44, one of the medical team that treated the two repatriated Spanish priests who died from Ebola, was diagnosed with the killer disease yesterday.

Today, her husband Javier, who is being looked after at the Carlos III Hospital, claimed health chiefs in Madrid were trying to get their pet dog Excalibur put down.

An SOS message he sent to a friend ended up on the Facebook page of an animal welfare association.

Javier, who lives in the Madrid suburb of Alcorcon, said that he had left the dog with all the provision it needed while he was in hospital.

He claimed that health officials had asked for his permission to euthanise the animal, and then said they would seek a court order to enter his house and have the dog put down after he refused.

More…