Posted at 7:25 PM (CST) by & filed under In The News.

Markets to Be Shutdown when Derivatives Chain Breaks; Societal Chaos – Bill Holter Interview
Kenneth Ameduri


WATCH: Turkish newsroom erupts in chaos as police arrest soldiers
By Elliot Smilowitz – 07/16/16 08:14 AM EDT

A Turkish TV station’s newsroom erupted into chaos Saturday as police and civilians battled soldiers in the aftermath of an attempted military coup.



Jim Sinclair’s Commentary

A surprise visit by US secretary of State Kerry to hold talks with Putin last week. Consider the following well because it is not idle talk.

“Influential Russian Foreign Ministry expert Sergey Karaganov says
    “Moscow has lost all trust in NATO
     fearing that the military alliance
     is planning an invasion
     and said the crisis is as bad as
     it was during the height of the Cold War.

© REUTERS/ Jonathan Ernst


Jim Sinclair’s Commentary

Should the headline not be “Longest Period of Blatant Lies” to maintain confidence in markets by skewing economic statistics since the “Pangea Revolutionary War.”

US Industrial Production Declines For 10th Straight Month – Longest Non-Recessionary Streak In History
Tyler Durden
Jul 15, 2016 9:23 AM

Following a 0.3% decline in May, Industrial Production rose 0.6% in June (better than the 0.3% rise expected) but year-over-year remains lower (-0.7%) for the 10th straight month. This is the longest non-recessionary streak of industrial production declines in US history. Gains on the month were driven by motor vehicle assembly (which is ironic given near-record inventories), but Q2 ended with a decline of 1.0% – the 3rd quarterly decline in a row (also not experienced without a recession).

The 0.7% decline YoY in June is the 10th in a row – the longest streak without a recession in US history…


For the second quarter as a whole, industrial production fell at an annual rate of 1.0 percent, its third consecutive quarterly decline.

Manufacturing output moved up 0.4 percent in June, a gain largely due to an increase in motor vehicle assemblies. The output of manufactured goods other than motor vehicles and parts was unchanged. The index for utilities rose 2.4 percent as a result of warmer weather than is typical for June boosting demand for air conditioning.





Jim Sinclair’s Commentary

Every step forward for the Yuan is a step backwards for the US$.

BRICS NDB to issue yuan-denominated bond in its maiden fundraiser

The New Development Bank (NDB), a one-year-old, infrastructure-focused lender backed by emerging BRICS economies, said this week it would issue 3 billion yuan, or US$ 447.8 million, worth of bonds in China’s interbank market on July 18.

It is also the first time the multilateral bank, set up by Brazil, Russia, India, China and South Africa, has issued bonds denominated in a currency of a member country.

The bond is a five-year green bond, which raises funds for projects that benefit the environment in ways such as improving energy efficiency and preventing pollution.

The bond yield will be decided on the day of issuance, according to the bank, which is headquartered in Shanghai. Analysts expect it to fall between 2.8 percent and 3.6 percent per annum.

Leslie Maasdorp, NDB’s vice president and chief finance officer, told Caixin the bank plans to sell bonds worth 10 billion yuan over an unspecified period of time. He said they were communicating with Chinese bond regulators to get approval for the sales.



Jim Sinclair’s Commentary

Note the Times does not headline the fact it is redacted.

In 9/11 Document, View of a Saudi Effort to Thwart U.S. Action on Al Qaeda

WASHINGTON — The long-classified document detailing possible connections between the government of Saudi Arabia and the Sept. 11 terrorist plot released on Friday is a wide-ranging catalog of meetings and suspicious coincidences.

It details contacts between Saudi officials and some of the Sept. 11 hijackers, checks from Saudi royals to operatives in contact with the hijackers and the discovery of a telephone number in a Qaeda militant’s phone book that was traced to a corporation managing an Aspen, Colo., home of Prince Bandar bin Sultan, then the Saudi ambassador to Washington.

The document, 28 pages of a congressional inquiry into the Sept. 11, 2001, attacks, is also an unflattering portrayal of the kingdom’s efforts to thwart American attempts to combat Al Qaeda in the years before the attacks.

But it is also a frustrating time capsule, completed in late 2002 and kept secret for nearly 14 years out of concern that it might fray diplomatic relations between the United States and Saudi Arabia. Subsequent investigations into the terror attacks pursued the leads described in the document and found that many had no basis in fact. But the mythology surrounding the document grew with each year it remained classified.

The Obama administration sent a declassified version of the document, with some redactions, to the congressional leadership on Friday. Its release on the website of the House Intelligence Committee later in the day marked the end of a years-long fight by lawmakers and families of the Sept. 11 victims to make public any evidence that Saudi Arabia may have played a role in the attacks.



Jim Sinclair’s Commentary

Redacted means do not waste your time reading it as key items are withheld from you.

If the 28 pages are redacted by one word it is not released.

Congress publishes redacted 28 pages from 9/11 report

The House Intelligence Committee on Friday released 28 previously classified pages from a 2002 congressional investigation into the Sept. 11, 2001, terror attacks.

The long-secret pages detail evidence linking Saudi Arabia to 9/11 uncovered in the immediate aftermath, though officials warn that it is merely preliminary and was later dismissed by subsequent investigations into the issue.

There is no single smoking gun within the pages to definitively implicate any senior Saudi leaders for supporting the al Qaeda terrorists.

Yet the evidence is nonetheless likely to inflame the relationship between the U.S. and Saudi Arabia, which has been rocky for the last year. In the U.S. in particular, release of the pages will likely lead to new scrutiny of the complex relationship between the two nations, which has previously been used as a foil during the political season.

Fifteen of the 19 hijackers were Saudi citizens, and rumors have simmered for years about possible links between the kingdom and al Qaeda.

According to the formerly top-secret pages, investigators uncovered “numerous reports” from FBI sources that at least two people in contact with some of the 9/11 hijackers may have been Saudi intelligence officers. Those two men may have provided financial, legal and social help to two of the hijackers in San Diego.


Posted at 9:28 AM (CST) by & filed under Bill Holter.

Dear CIGAs,

Today is Friday July 15. As written Wednesday, there are plans for demonstrations in some 3 dozen cities this afternoon and evening. No doubt there will be some violence, the only question is how much. The mayor of Atlanta mentioned “the National Guard” when he spoke earlier this week. If a National Guard is called out ANYWHERE in the country, you can then bet they will be called out everywhere. This in my opinion will lead to the implementation of martial law and allow Mr. Obama to use the executive orders he has written for himself.

I would urge you not to be in cities or anywhere near the proposed demonstrations. I would also urge that you do your grocery shopping for next week TODAY. The Republican national convention will also be next week …so another opportunity for violence to erupt. The downside to shopping today (and buying more than usual) is nonexistent as you would have done it next week and you will still eat what you buy. From this point forward you and your family should be on the highest alert possible. While I am not saying this will blow up here and now, the likelihood is extremely high.

Godspeed on your preparations and blessings on us all!

Standing watch,
Bill Holter
Holter-Sinclair collaboration

Posted at 10:08 AM (CST) by & filed under General Editorial.

Dear CIGAs,

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Please note this is for technical issues only – lost passwords, problems with access, payment inquiries etc. Emails sent to this address with general inquiries will not be answered.

Thanks for your support!
JSMineset Editor

Posted at 9:46 AM (CST) by & filed under General Editorial.

Dear CIGAs,

This is not an easy read, but it is the most IMPORTANT read of your lifetime.

I have asked Editor Dan to post Stockman’s article in total today on JSMineset because here is where we are now and where we are going in the future in a much larger way than anything before.

I have been looking for the reason for the Fed’s Chair visit at the White House recently. What this will do is bury the fiat currency system in terms of buying power. It is already dead as a storehouse of wealth. The carrot on the string to own money, interest rates, are presently history. This is what the present administration and its economic clone democratic candidate are counting on. This is the substance that the meeting between the Federal Reserve and the White House was all about. This has just been made public down under by a Fed female personality where it is least apt to be publicly discussed. It is simple money printing hidden in complexity so you have to change your understanding of the expanded QE theory. If you will not first read this then make the effort, you are lost. Please make that effort.

Unless we get rid of the Fed we the 99% are all dead financially and literally.

There is no better reason to own the limited supply of gold that is above ground and therefor freely obtainable. It is the reason that this gold and silver market has many more years to move forward to the final price determined not in the paper gold make believe futures market, but the Real Free Gold cash physical market.

The bull market that never ended has many more years in front of it than you can imagine and a final and permanent price dictated by Russia and China. This is the world war of all world wars where there are no borders. This is why this is the last time to protect yourselves, the gold rally that you do not sell. This financial power grab of all historical power grabs that you must understand, no matter how many times you must read the article below, will be discussed for years to come by the Freedom Bloggers of the modern world, as Patrick Henry was to the foundation of the Constitution. This work is to save you from yourselves via knowledge. This time it is the knowledge of the plan accepted by Chair Yellen at the recent and rare White house meeting between the occupant of the Oval Office and the occupant of the Chair.

We will work to help you, but this you must understand if you are to avoid the execution of everything we hold from the formation of this nation as true, good and holy. This is the end of all that. It has come. It is not coming in the future. It is here today.

It has the power to be the end of elections and permanent power resting between the oval office

and chair, making the 1% the new aristocracy of the globe. You think Putin does not understand this? This proves one more time there are no atheists in the fox hole. War in a different form is now being practiced and all out application is close. GOTS while you can.

The end:

Standing watch, The western economic Texas Ranger and the man with the longest career in finance and metals anywhere – 56 years. The Sinclair/Holter combined effort to save the 99% from the 1%.

Helicopter Money——The Biggest Fed Power Grab Yet
by David Stockman • July 13, 2016

The Cleveland Fed’s Loretta Mester is a clueless apparatchik and Fed lifer, who joined the system in 1985 fresh out of Barnard and Princeton and has imbibed in its Keynesian groupthink and institutional arrogance ever since. So it’s not surprising that she was out flogging—-albeit downunder in Australia—- the next step in the Fed’s rolling coup d’ etat.

We’re always assessing tools that we could use,” Mester told the ABC’s AM program. “In the US we’ve done quantitative easing and I think that’s proven to be useful.

“So it’s my view that [helicopter money] would be sort of the next step if we ever found ourselves in a situation where we wanted to be more accommodative.

This is beyond the pale because “helicopter money” isn’t some kind of new wrinkle in monetary policy, at all. It’s an old as the hills rationalization for monetization of the public debt—–that is, purchase of government bonds with central bank credit conjured from thin air.

It’s the ultimate in “something for nothing” economics. That’s because most assuredly those government bonds originally funded the purchase of real labor hours, contract services or dams and aircraft carriers.

As a technical matter, helicopter money is exactly the same thing as QE. Nor does the journalistic confusion that it involves “direct” central bank funding of public debt make a wit of difference.

Suppose Washington issues treasury bonds to the 23 primary dealers on Wall Street in the regular manner. Further, assume that some or all of these dealers stick the bonds in inventory for 3 days, 3 months or even 3 years, and then sell them back to the Fed under QE (and most likely at a higher price).

So what!

The only thing different technically about “helicopter money” policy is the suggestion by Bernanke and others that the treasury bonds could be issued directly to the Fed. That would just circumvent the dwell time in dealer (or “investor”) inventories but result in exactly the same end state. In that event, of course, Wall Street wouldn’t get the skim.

But that’s not the real reason why helicopter money policy is so loathsome. The unstated essence of it is that our monetary politburo would overtly conspire and coordinate with the White House and Capitol Hill to bury future generations in crushing public debts.

They would do this by agreeing to generate incremental fiscal deficits—-as if Uncle Sam’s current $19 trillion isn’t enough debt—–which would be matched dollar for dollar by an increase in the Fed’s bond-buying or monetization rate. That amounts not only to teaching children how to play with matches; it’s tantamount to setting fiscal forest fires across the land.

There are a few additional meaningless bells and whistles to the theory, which we will dispatch in a moment, but the essential crime against democracy and economic rationality should be made very explicit. To wit, this is a central bank power grab like no other because it insinuates our unelected central bankers into the very heart of the fiscal process.

Needless to say, the framers delegated the powers of the purse—spending, taxing and borrowing—–to the elected branch of government, and not because they were wild-eyed idealists smitten by a naïve faith in the prudence of the demos.

To the contrary, they did so because the decision to spend, tax and borrow is the very essence of state power. There is no possibility of democracy—-for better or worse—-if these fundamental powers are removed from popular control.

Yet that’s exactly what helicopter money policy would do. Based on some Keynesian gobbledygook about the purported gap between full-employment  or “potential GDP” and actual output and employment, the Fed would essentially set the Federal deficit target.

In practice, it would also likely throw-in some gratuitous advice about its composition between tax cuts, infrastructure spending and social betterment. The recommended mix would arise from an economic whim, of course, as to whether the FOMC in its wisdom thought household consumption or fixed asset investment needed to be goosed more.

Alas, the peoples’ elected representatives would relish this “expert” cover for ever bigger deficits and the opportunity to wallow in the pork barrel allocation of the targeted tax cuts and spending increases. There is not a hard core New Dealer turning in his grave who could have imagined a better scheme for priming the pump.

And that’s not the half of it. Helicopter money turns the inherently dangerous idea of fiscal borrowing in a democracy into an outright monetary fraud.

Even “New Deal” FDR worried about the rising public debt and “Fair Deal” Harry Truman positively loathed it.

Likewise, the power-mad Lyndon Johnson essentially vacated the oval office when he finally agreed to a substantial tax hike in early 1968 order to stem the deficit hemorrhage from his guns and butter policies.

Even the greatest deficit spender of all time—–Ronald Reagan—-thought the resulting explosion of the public debt was half Jimmy Carter’s fault and half due to defense spending increases, which didn’t count in his unique way of reckoning the national debt.

So what makes helicopter money so positively insidious is that it relieves elected politicians entirely from their vestigial fears of the public debt and from accountability for the burdens it imposes on future generations. And that’s especially true owing to the Bernanke fillip.

Folks, the Bernank is no hero whatsoever—–notwithstanding his self-conferred glorification for the courage to print. He is a demented paint-by-the-numbers Keynesian who has a worse grasp on the real world than the typical astrologer.

Indeed, the crucial element in his helicopter money scheme, as explained in a recent Washington Post op ed, is an explicit and loud announcement by the Fed that the incremental debt will be permanent. It will never, ever be repaid——not even in today’s fictional by-and-by.

Providing a purportedly scientific monetary cover story so that elected politicians can issue non-repayable public debt is a truly reprehensible idea in its own right. But the reason for it is downright lunatic.

To wit, unless current taxpayers are assured that future taxes will not rise owing to Washington’s helicopter money handouts and tax breaks, says the Bernank,  they won’t spend the government gifts they find strewn along the path of flight!

That’s right. When a road building boom from helicopter money appropriations results in surging demand at the sand and gravel pits, the small-time businessman involved won’t buy any additional trucks or hire any additional drivers until Washington assures them that they won’t pay higher taxes 20 years hence!

Only in the Eccles Building puzzle palace does such drivel not elicit uncontainable guffaws. Only in Sweden do they give Nobel Prizes for the academic obscurantism called “rational expectations theory” that is the basis for Bernanke’s toxic assault on fiscal discipline and sound money.

At the end of the day, the operative words here are “groupthink” and “coup d’ etat”. These baleful conditions flow from the essential predicate of modern central banking.

We are referring here to the erroneous notion that economic wealth can be permanently elevated through more public and private borrowing and that central bank falsification of financial asset prices will facilitate the achievement of those ends.

In fact, as we have repeatedly demonstrated, the Fed’s purported macro-management of the economy and business cycle is simply a variation of the old Keynesian parlor trick that is over and done.

That is to say, so long as households and businesses have unused runway on their balance sheets, they can be induced to leverage-up with cheap money, and thereby be enabled to spend more for consumption goods and capital goods than could otherwise be financed out of current incomes and cash flows, respectively.

But we are now at Peak Debt. There is no balance sheet runway left.

Accordingly, the impact of the massive flow of new central bank credit and the Fed’s sustained falsification of financial asset prices after 2008 never left the canyons of Wall Street. It did not stimulate the main street economy one bit; it merely generated vast windfalls to the top 10% and 1% who own most of the financial assets, while fueling ever more unstable, extreme and dangerous financial bubbles.

In short, the real issue is that the Fed was foolishly given a so-called Humphrey-Hawkins mandate to deliver full-employment and stable inflation 40 years ago. But in today’s global economy and financialized world, the FOMC’s crude tools of interest rate pegging, bond-buying and wealth effects pumping are utterly unsuited for the task.

And well they should be. In the first place, no politburo of 12 people can define full-employment in a gig-based, labor-driven globalized economy. The Fed can do nothing about an auto job that migrates to Germany because American consumers like Mercedes cars better than Cadillacs.

Nor can it fully employ a worker who scams the social security disability system or a road warrior who prefers to work only six months per year and party the rest of the time. Likewise, fiddling with interest rates can’t help a McDonald’s fry cook who gets canned because the Seattle City Council foolishly raised the minimum wage to $15 per hour and invited robots to take over the job.

Pure and simply, there is no such measurable as “full employment”.  Nor is there a chance in the world that the Eccles Building can cause the true creators of jobs—-enterprise, capital and technology—-to make more of them by fueling every larger financial bubbles.

As for the inflation side of its dual mandate, there is not a word in the 1977 Act that says a 2% annual gain in consumer prices is what Congress had in mind—even in the midst of its confusion about what central banking can actually do.  I remember well voting against it at the time, and not hearing a single speech in behalf of the magic 2%.

That’s because the sacred 2% inflation target was only adopted by the Fed 34-years later in 2011 under Bernanke’s relentless prodding. In fact, the very idea of “inflation targeting” is a stupid academic hobby horse invented by Bernanke in the 1990s— long after the Act was passed——and which bears no empirical relationship to the rate of GDP growth, jobs or anything else.

But it is a thinly disguised excuse for a power grab. That is, the Fed has been massively intruding upon financial markets and distorting and deforming prices in the capital and money markets for nearly two decades now on the pretext that there is a “shortfall” in the inflation rate.

Well, there hasn’t been. Not even close.

Based on what we call the “flyover CPI”, which weights the four horseman of inflation—–energy, housing, medical and food—–at 64% or by what most of America spends its paycheck on, inflation has been 3% or better for nearly two decades.


So the single most important thing that could be done by Congress to get the American economy functioning again would be to repeal the Humphrey-Hawkins Act and thereby eliminate the Fed’s legal basis for its rolling coup d’état.

At the same time, it could launch a modern equivalent of the Pecora hearings of the 1930s. Only this time they would be focused on the Fed’s role in generating massive Wall Street bubbles and their subsequent devastating collapses—–including for what will soon be the third time this century.

Such a probe could readily bring to the surface what amounts to the raging elephant in the room of national economic policy. Namely, that the Fed’s massive intervention in the financial markets and its feckless pursuit of ZIRP and QE is a battering ram of dangerous and worsening financial instability.

But the Eccles Building and its 12 branch offices are so mummified in Keynesian groupthink that they cannot even see the obvious. Thus, in touting its next grab for helicopter money power, the aforementioned Cleveland Fed President let loose of the following whopper:

Maintaining stability in financial markets should not be an explicit goal for the Federal Reserve, which should use interest rates to head off a crisis only if more precise and better-suited tools fail, a top Fed official said on Tuesday…….Cleveland Fed President Loretta Mester said in remarks prepared for delivery in Sydney, adding that the Fed’s key price stability and maximum employment goals usually align with its desire for a stable financial sector.

Oh, c’mon. The purpose of the systematic financial repression by the Fed and the rest of the world’s central banks is to flush savers and investors out of the money market and out the risk curve.

That’s why there is $13 trillion of subzero sovereign debt and growing by the day. That’s why there is a mad scramble for yield; and that’s why the global financial system is riven with FEDs (financial explosive devices) waiting to be ignited.

Today, Fitch Ratings spotlighted one more example of the Fed’s destructive regime of Bubble Finance at work.

The trailing 12-month junk-bond default rate hit a 6-year high in June at 4.9%, says Fitch Ratings, highlighting the ongoing pain from the oil patch.

Energy companies defaulted on $28.8 billion of debt the first half of this year, Fitch calculates, putting the sector’s default rate at 15%. For exploration and production, the rate is 29%.

A 29% default rate in the E&P sector!

Does Ms. Mester really believe that in a honest free market several hundred billions of high yield debt could have been sold by the rank commodity speculators who ply the shale patch?

Not in a month of Sundays.

By contrast, modern central banking is a doomsday machine of financial booms and busts and ever intensifying financial instability. One of these days—-perhaps when the current mother of all bubbles implodes——even the somnambulant Congressional Republicans may figure out the real enemy of American prosperity and productive capitalism.

That is, a rogue central bank that has seized plenary financial power already, and that is so mummified in groupthink that it will stop at nothing in the expansion of its remit. Even to the extent of sending clueless career apparatchiks like Loretta Mester to the ends of the earth to flog the unspeakable folly of “helicopter money”.

Link to full article…

Posted at 9:28 AM (CST) by & filed under In The News.



Tokyo Commodity Exchange to launch Physical Gold Market
By: Valentina Kirilova July 14, 2016

The Tokyo Commodity Exchange Inc. (TOCOM) has announced today that July 25th will be the start date of new Gold Physical Transaction, pending regulatory approval. Gold is the most actively traded commodity at the Exchange with both futures and options contracts listed.

Simultaneously, TOCOM will introduce a delivery at settlement option for the Gold Rolling Spot contract. Originally a cash-settled contract, the change is expected to better serve investor needs.

Financial markets fell in reaction to the Brexit vote and the world economy is turning increasingly uncertain. Hence, Gold is in greater demand as a safe asset that removes credit risk. It is also seen as an effective inflation hedge and superior for long-term asset protection. Additionally, gold provides portfolio diversification, since price movement tends to uncorrelated with equity and bond prices.

With the launch of this Gold Physical, TOCOM is providing a single platform where investors can conduct spot trading or hedge in gold with transparent pricing. TOCOM is the only regulated exchange that operates a gold market in Japan, and continues to improve investor convenience.

TOCOM plans to expand into OTC and physical commodity markets to create a reliable, “comprehensive commodity market” to better cater to the diverse needs of market participants.



It is enough that people know there was an election. The people who cast the votes decide nothing. The people who count the votes decide everything.
–Joseph Stalin. (1879-1953)

More Questions Emerge About Skewed Hillary Polls
by Tyler Durden
Jul 14, 2016 3:40 AM

One glimpse at the massive variance between the last two days polls in swing states suggests something very odd is going on.


Pennsylvania Trump +2

Ohio Tied

Florida Trump +3


Iowa Trump +2


Pennsylvania Clinton +9

Ohio Tied

Iowa Clinton +3

Or graphically…


[Pennsylvania white voters: Trump, 40% Clinton, 40% Pennsylvania black voters: Trump, 0% Clinton, 91%; Ohio white voters: Trump, 43% Clinton, 33% Ohio black voters: Trump, 0% Clinton, 88% -- WSJ/NBC/Marist poll]

Simply put, as The Daily Bell notes, given the post-Email-gate disapproval ratings…

A majority of Americans disapprove of the FBI’s recommendation not to charge Hillary Clinton with a crime over her handling of email while secretary of state, and a similar number in a new ABC News/Washington Post poll say the issue leaves them worried about how she would handle her responsibilities as president if elected.

Most also say the email controversy won’t affect their vote in the presidential election. But 28 percent say it leaves them less likely to support her, versus 10 percent who say it makes them more likely to do so. -ABC Poll

Pro-Hillary Clinton polls don’t make sense.

In fact, polling with such tiny samples doesn’t make sense anyway, but coming on the heels of other questionable polls favoring Hillary, this widely quoted poll only seems to raise further questions.

The poll, above, has been widely cited as presenting a negative picture of Clinton.


Posted at 11:05 PM (CST) by & filed under Bill Holter.

Dear CIGAs,

I finished my last writing with the question “will we still have the rule of law?” and commented what a can of worms this topic is. While I knew the question of the rule of law would certainly come up later this year, I had no idea how quickly! Normally forensic logic is a process of “connecting dots”, in this instance the “dots” are more like one giant blob of crap covering the page entirely. On many previous occasions we have seen election fraud, market riggings and bogus economic reports, the corruption is now no longer contained or done in secret… it is done in public. Maybe so the public can “see it”? Let’s take a look at “law”.

We have heard stories where the police are confiscating cash during traffic stops where the driver/passenger then has to prove “how or where” they got the money. In many cases, even after proof is delivered …the money is not returned. We also have recently seen where Oklahoma troopers/officers have technology to swipe debit cards and clear balances because “you might buy drugs or commit a crime” with that cash. Does this scare you? It should!

A week or so back, we heard of Bill Clinton meeting with Attorney General Loretta Lynch on an airport tarmac. Within a week, James Comey (who turns out to have many past trails crossing the Clinton’s path) recommended no charges for Hillary’s mishandling of classified information. This was the ultimate George Carlin joke, “it’s a big club and you ain’t in it”! The average Joe now knows because he has seen with his own eyes, the law does not pertain to the elite …but it and then some does pertain to you. While on the subject of public servants, I believe the breakdown in the rule of law truly reared its ugly head upon the death of Justice Antonin Scalia. How is it possible that an autopsy was mandatory for “Prince” but not for a Supreme Court Justice? Another public servant, Supreme Court Justice Ginsberg recently badmouthed Donald Trump in a very public fashion. “Impartiality”?

Of course we have seen some bad shootings. Two recently where blacks were shot and killed by police, which in turn was followed by police being shot or shot at in Georgia, Tennessee and Dallas. (Where was the media for LaVoy Finicum?). Next up will apparently be this Friday as information has surfaced that a list of protests will occur in three dozen major U.S. cities. There are also rumors of more than 10,000 being bussed in to protest the Republican convention for what is being called the “summer of chaos”. This, courtesy of the globalists and of course George Soros.

The rule of law has not solely been repealed within the U.S.. The world court in Hague recently ruled the Chinese have no claim to occupied islands To this I was quite surprised because many rulings and treaties after WWII clearly void Japanese claim to any and all of them. Now we will wait to see how this progresses. I would assume the Chinese will take the attitude of ignoring the ruling entirely with a stance of “we are here, come and take it”. Mr. Putin has and is clearly preparing to stand with China. No matter what happens, it cannot be good. It will either be war, or the U.S. loses more face and credibility. Because this ruling will force action, it is no doubt a step forward in strength and resolve by China and a step backward for the U.S..

The important thing to take from this writing is the fact that the previous “de facto” lack of law has now become “public” and in your face REAL! The mayor of Atlanta even mentioned the “National Guard” in passing yesterday. Please understand this, once the National Guard is called out anywhere …they will be called out everywhere. What was unthinkable will become the new normal. This will be your beginning to martial law which will sweep the country very rapidly.

I have said all year long, I believed the odds of having a November election were slightly less than a coin flip. I will now update that as I believe the odds have risen to somewhere between 65-70% …no election. Am I wrong? I believe we will very soon see. We will see the aftermath of protests this coming Saturday morning and also see whether or not the Republican convention is completed.

I know that many are very opposed to “guns” and believe the world would be a safer place without them, I personally do not understand the logic. I would only point out, there are no atheists in a foxhole and no anti-gun advocates when there are no police and you are the only one without a gun. The rule of law has and is breaking down …and doing so in very public fashion. We are facing societal breakdown right in the face and unfortunately this will play right into globalist hands. You see, the mass of “helpless” will BEG for safety and security in lieu of liberty. For years “safety and security” have been offered in the place of liberty. The next six months are extremely crucial for the direction of our country and the world. Sadly, for many it will mean a choice between liberty and death …”safety be damned’!

Standing watch, locked and loaded.

Bill Holter
Holter-Sinclair collaboration
Comments welcome

Posted at 8:12 PM (CST) by & filed under In The News.

Jim Sinclair’s Commentary

Free of Friday? Below is a list of places to vent anything and everything. Sorry, Angel is not for rent.


Day of Rage Protests and Chaos planned by Activist Groups on Friday, July 15th
July 12, 2016 Robert Richardson

A group claiming to be the hacktivist group Anonymous, along with a number of other radical activist groups, is calling for a nationwide day of protesting on Friday, July 15th. Day of Rage protests are being planned by various groups in dozens of major cities throughout the country and police are gearing up for some major problems.

The hacktivist group released the following video to their followers; I warn you though there are some very graphic and disturbing scenes in the video.

Day of Rage Protests across America

While the group claims the protests will be peaceful, during the last week multiple police officers have been attacked, shot, and even murdered throughout the country. Major cities have had their highways shut down, and transit systems have had to reroute buses and traffic after these groups took over major roadways.

The media will tell you these people are peaceful, but as we have been reporting all week, and as you will see in the video below, at these so-called peaceful protests the leaders of these groups are calling for violence.

Do these people sound like peaceful protesters?

List of Cities where Day of Rage Protests will be Taking Place

Below is a list of cities that already have planned protests, we advise anyone in these areas to stay as far away as possible. There are a number of groups out there that are trying to use recent event to spread chaos throughout the country. This is no longer about police shootings, civil rights, or any of the other phony excuses they are using to terrorize these cities; this is about creating chaos and bringing the system to its knees.

Please Stay Alert!!! We have no way of knowing how serious these threats are, these groups have made similar threats in the past and nothing came of them, but with everything that has happened over the last week and with the Republican and Democratic Conventions coming up I think there is at least a reason to be concerned.

Please be careful if you live in these cities, and you may want to consider getting out of town on Friday:

Phoenix: 5:00PM (EASTLAKE PARK, 1549 E Jefferson St , Phoenix, AZ 85034)

Tuscon: 5:00PM (CATALINA PARK, 900 N 4th Avenue, Tucson, AZ 85705)

Little Rock: 6:00PM (OUTSIDE STATE CAPITOL BUILDING, Dr Martin Luther King Jr Dr., Little Rock, AR 72201)

San Francisco: 4:00PM (CIVIC CENTER PLAZA, 355 Mcallister St, San Francisco, California 94102)

Oakland: 4:00PM (FRANK OGAWA PLAZA, 1 Frank H Ogawa Plaza, Oakland, CA 94612)

Los Angeles: 4:00PM (LEIMERT PLAZA PARK, 4395 Leimert Blvd., Los Angeles, CA 90008)

Denver: 5:00PM (CIVIC CENTER PARK, 100 W 14th Ave Pkwy, Denver, Colorado 80204)

Washington DC: 7:00PM (OUTSIDE WHITE HOUSE, 1600 Pennsylvania Ave NW, Washington, DC 20500)

Atlanta: 7:00PM (OLD DECATUR COURTHOUSE, 101 E Court Sq, Decatur, GA 30030)


Orlando: 7:00PM (LAKE EOLA PARK, 195 N Rosalind Ave, Orlando, Florida 32801)

Miami: 7:00PM (GWEN CHERRY PARK, NW 71 St., Miami, Florida, 33147)

Chicago: 6:00PM (RICHARD J DALEY CENTER, 50 W Washington St, Chicago, Illinois 60602)

Des Moines: 6:00PM (IOWA STATE CAPITOL, 1007 E Grand Ave, Des Moines, IA 50319)

New Orleans: 6:00PM (LAFAYETTE SQUARE, New Orleans, LA 70130)

Baltimore: 7:00PM (201 E Pratt St, Baltimore, MD 21202)

Boston: 7:00PM (MASSACHUSETTS STATE HOUSE, 24 Beacon St, Boston, MA 01233)

Detroit: 7:00PM (Campus Martius Park, Detroit, Michigan 48226)

Lansing: 7:00PM (STATE CAPITOL BUILDING, Capitol Avenue at Michigan Avenue, Lansing, MI 48933)

Ann Arbor: 7:00PM (THE DIAG, Burns Park, Ann Arbor, MI 48109)

Minneapolis: 6:00PM (MINNEAPOLIS URBAN LEAGUE, 2100 Plymouth Ave N, Minneapolis, MN 55411

St. Louis: 6:00PM (GATEWAY ARCH, St. Louis 63102)

Carson City: 4:00PM (NEVADA STATE CAPITOL BUILDING, 101 N Carson St, Carson City, Nevada 89701)

Manhattan, NY: 7:00PM (TIMES SQUARE, Manhattan, NY, 10036)

Newark: 7:00PM (NEWARK CITY HALL, 920 Broad Street, Newark, New Jersey 07102)

Durham: 7:00PM (200 E. Main St. Durham, North Carolina)

Columbus: 7:00PM (GOODALE PARK, Columbus, Ohio 43215)

Cleveland: 7:00PM (CLEVELAND PUBLIC LIBRARY, 325 Superior Ave E, Cleveland, Ohio 44114)

Portland: 4:00PM (PIONEER COURTHOUSE SQUARE, 701 SW 6th Ave, Portland, Oregon 97204)

Philadelphia: 7:00PM (LOVE PARK, 1599 John F Kennedy Blvd, Philadelphia, Pennsylvania 19102)

Pittsburgh: 7:00PM (PITTSBURGH CITY-COUNTY BUILDING, 414 Grant St, Pittsburgh, Pennsylvania 15219)

Nashville: 6:00PM (801 Broadway Nashville, TN 37203 Estes Kefauver Federal Building)

Memphis: 6:00PM (Health Sciences Park Memphis, TN)

Austin: 6:00PM (TEXAS STATE CAPITOL, Outside South Gate-11th and Congress Ave.)

Salt Lake City: 5:00PM (SALT LAKE CITY COMMUNITY COLLEGE, 4600 S Redwood Rd, Salt Lake City, Utah 84123)

Seattle: 4:00PM (QUEEN ANNE BAPTIST CHURCH, 2011 1st Ave N, Seattle, Washington 98109)

Milwaukee: 5:00PM (DINEEN PARK, Milwaukee, Wisconsin)



Jim Sinclair’s Commentary

Are you crazy? Of course screw the people and save the banks. This is the New Normal!

In the euro zone’s latest crisis, Italy is torn between saving the banks or saving its people

Italy’s leaders are caught in a bind. The UK’s June vote to leave the European Union set off shockwaves across the bloc, which in turn exposed …

More news for FALL OF ROME In the euro zone’s latest crisis, Italy is torn between saving the banks or saving its people The nonnas aren’t happy. (Reuters/Alessandro Bianchi) SHARE WRITTEN BY Cassie Werber OBSESSION United States of Europe 6 hours ago Italy’s leaders are caught in a bind. The UK’s June vote to leave the European Union set off shockwaves across the bloc, which in turn exposed long-simmering weaknesses in Italy’s banks—possibly leading to the euro zone’s next crisis. The country’s biggest banks’ share prices, which were already under pressure, plummeted after the Brexit vote. Many are carrying too much bad debt that cannot be recouped. The Italian government, which has been dragging its feet on reforming its sickly financial system (paywall), might now need to step in and forestall an institutional failure that would be disastrous for the economy. But if Italy bails out the banks, it could to drag tens of thousands of ordinary Italians into the mess, too.



Jim Sinclair’s Commentary

Not to worry, lower rates will not stimulate borrowing.

Bill Gross: The Economy Needs Credit Creation to Multiply Growth
By Surbhi Jain  | Jul 12, 2016 7:45 am EDT

Bill Gross stressed the importance of credit creation

In his Investment Outlook for July 2016, Bill Gross highlighted the importance of credit creation as the growth multiplier in the economy. Gross sees effective credit creation and velocity as the solution to current economic stagnation.


Bill Gross has an interesting analogy

To draw home his point, Gross etched out this very interesting analogy between the economy and a game of Monopoly. He likened the $200 that players collect every time they pass “Go,” to new credit creation in the economy. According to Gross, this credit is essential for the “ongoing health of our finance-based economy. Without new credit, economic growth moves in reverse and individual player ‘bankruptcies’ become more probable.”


The US (SPY) (QQQ) (IWM) Fed, the Bank of Japan (EWJ), and the European Central Bank (FEZ) (VGK) have all been printing enough money in the aftermath of the financial crisis of 2009 to keep their respective economic engine moving and translating to growth. The Fed alone has printed about $4 trillion in new money. However, what remains critical is whether new money has effectively translated to growth in the economy. The above table shows how recent increases in money supply, as gauged by M2, haven’t effectively translated to stock market growth in the developed market economies.

This is where credit creation becomes vital.



Jim Sinclair’s Commentary

I think the sheep are waking up.

“Panic Buying of Food in New Jersey?”
Tuesday, July 12, 2016 6:17

“Supermarkets in northeastern New Jersey are literally swamped with customers tonight, so much so that in some locations like Hoboken, lines are literally around the store to get it! It is a rather unusual situation since there are no closures or shortages of any kind, so SuperStation95 sent one of our intrepid editors, Chris Rivera, to ask what- if anything- is going on?  He reports below:

“ShopRite in Hoboken, NJ is one of the largest supermarkets in Hudson County, and certainly the largest in this upscale, preppie, city of one square mile. Situated on the western side of the mighty Hudson River, one can see the entire New York City Skyline from just about everywhere in Hoboken.  It’s a beautiful city.

So what is it that is causing lines out the door and wrapping around supermarkets in town? Despite the huge parking lot, I had to find street parking to head over to the ShopRite. I found a space about a block away. As I approached, I could see lots of typical Hoboken folks, chatting with each other as they patiently wait to get inside. I asked a few, why the big lines? 

“Banks in Italy are collapsing” said Margarie Sytola. ”People can’t get money to buy food, the ATM’s are all out of cash.” I asked her why a banking issue in Italy would send her to the supermarket in Hoboken, NJ and she snapped back “The world is connected. What happens in Europe eventually happens here. I’m not going to be one of the people caught with nothing if the banks close.”

Jeff Charles, a nearby shopper who overheard our conversation, chimed-in. ”The banks never stopped gambling with our money after they were bailed out in 2008″ he said. ”The oldest bank in Italy, been in business since the year 1472, is going under. If a bank that old is going under, the rest don’t stand a chance” he said.



Jim Sinclair’s Commentary

I stopped teaching it because:

As central banks buy nearly everything, technical analysis is a fraud
Submitted by cpowell on Tue, 2016-07-12 17:10.
1:07p Tuesday, July 12, 2016

Dear Friend of GATA and Gold:

Zero Hedge today reports the latest findings by Citigroup market analyst Matt King, who has determined that stock markets keep going up because selling in emerging markets has been more than offset by “a surge in net global central bank asset purchases to their highest since 2013.”

Soon, perhaps, central banks will have purchased nearly everything to maintain asset prices and prevent markets from functioning, thereby enveloping the world in “financial repression.” Or, as a high school graduate remarked at GATA’s Washington conference in 2008, “There are no markets anymore, just interventions”:

So what are the “technical analysts” among the financial letter writers really analyzing? Not markets but their own gullibility or that of their subscribers.

Zero Hedge’s report on King’s findings is headlined “The ‘Mystery’ of Who Is Pushing Stocks to All-Time Highs Has Been Solved” and it’s posted here:…

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

Posted at 7:05 PM (CST) by & filed under Jim's Mailbox.


For the uninformed, the desirability of gold hinges upon the return on investment as compared to bond yields.

More clearly, if bonds yield 2% and inflation is reported at 1%, then you are making 1% per year on your money.

However, if bonds yield only 1% and inflation is pegged at 2%, then you are losing 1% every year.

Many don’t look at this variable.

Now we all know that inflation is much greater than what the government reports (if you do any shopping).

Just imagine if the inflation genie rears its head (or the government reports more accurately), and we get inflation numbers around 5% or higher. Then 5% inflation, less 1% bond rates, yields a negative return of 4% on your savings.

That is the scenario when gold REALLY shines.

People would do well to begin focusing on this concept, not just on speculative activity or adverse political events.

Gold will no longer have a “cost of carry” with inflation higher than yields.

But harboring cash, savings deposits, bond investments, and dividend paying stocks will certainly have a high “cost of carry.”

CIGA Wolfgang Rech

Gold Is Just Getting Warmed Up: UBS Analyst
Wednesday July 13, 2016 15:08

It’s been a stellar six months for gold investors. The yellow metal has surged 28 percent year-to-date, its best first half of the year since 1974. And now there are signs that the rally is just getting started.

That’s the assessment of analysts from UBS and Credit Suisse, who see gold entering a new bull run. According to UBS analyst Joni Teves, gold could climb to $1,400 an ounce in the short term on macroeconomic uncertainty, dovish monetary policy and lower yields.

“These factors,” Teves writes, “justify strategic gold allocations across different types of investors” and should encourage hesitant investors to participate.

Already-low bond yields around the globe have fallen even further in Brexit’s wake, many of them hitting fresh all-time lows, including yields in the U.S., U.K., Germany, France, Australia, Japan and elsewhere. For the first time ever, Switzerland’s entire stock of bond yields has fallen below zero, with the 50-year yield plunging to negative 0.03 percent on July 5.





When you can longer convince people that gold is a bad investment, you attempt to re-direct their attention elsewhere.

In this case… diamonds.

Talk about an investment fraught with pitfalls!

-Notorious for their exorbitant premiums when you buy, and exorbitant discounts when you sell.

-Extreme difficulty in determining the quality of the product (color, clarity, carat weight, etc)

-Highly subject to geographical and political hazards

Always remember, never believe what the Street tells you.

CIGA Wolfgang Rech

Diamonds Seen as ‘Next-Best’ Commodity After Gold Rally: Chart
Joe Deaux
July 13, 2016 — 10:23 AM EDT


Commodity investors concerned that gold’s rally will sputter may want to consider another luxury item: diamonds. With odds of a U.S. rate hike creeping higher and long positions in bullion soaring, “it may make even more sense to look at a next-best commodity exposure such as diamonds, where there has been limited investor flow and presumably less downside in case the bear case unfolds,” Citigroup Inc. analysts including Barry Ehrlich said in a note. The bank recommends shares of Alrosa, the world’s largest rough-diamond producer.