Jim Sinclair’s Commentary
The following is a quote from King World News and Richard Russell
The Greatest Wealth Transfer In History
This is all part of a longer-term bottoming process in the gold market. It’s impossible to know if the bottom has already been made, but there is no question that when gold enters the next leg higher in this secular bull market, fortunes will be made on the upside in gold, silver, and the high-quality mining shares. Likewise, fortunes will be lost as paper assets such as bonds implode as one of the greatest wealth transfers in world history unfolds.
Russia Boosts Gold Reserves by Most in at Least Five Months
Eddie Van Der Walt
September 18, 2015 — 10:45 AM EDT
Russia’s appetite for gold accelerated last month, with the country adding the most to its reserves since at least March.
The nation increased holdings to 42.4 million ounces from 41.4 million ounces in July, the central bank said on its website Friday. The amount bought was about the same as the 30.5 metric tons that Russia purchased in March, then the highest amount in six months.
Russia, the sixth-biggest holder of the metal, more than tripled its hoard since 2005 and holds the most metal since at least 1993, International Monetary Fund data show. It’s been steadily buying bullion even as international sanctions over the Ukrainian conflict and a plunge in oil prices contributed to a collapse in the ruble. Gold priced in rubles jumped 60 percent in the past year.
“Russia has been building its holdings for a long time now for very political reasons,” Adrian Ash, head of research at BullionVault, said by phone from London. “It shows the emerging-market bid remains strong for gold, which is proving supportive.”
Russia added about 13 tons in July and 24 tons the month before that. China, Kazakhstan, Ukraine and Belarus are among other nations that have been accumulating gold.
Gold for immediate delivery has dropped 3.7 percent this year to $1,140.70 an ounce in London. Prices are heading for a third annual decline as the Federal Reserve moves closer to raising interest rates, diminishing bullion’s allure because the metal doesn’t pay interest, unlike some competing assets.
Jim Sinclair’s Commentary
That number will surely get the Brother’s attention. Time to get out the non-existent nukes.
One million Yemeni fighters prepare to invade Saudi Arabia
Thursday, 17 September 2015 14:52
A million Yemeni tribal fighters are gathering near the border with Saudi Arabia in preparation to invade the Kingdom, Iran’s Kayhan newspaper has reported.
The newspaper quoted what it described as “informed sources” in Sanaa as saying that “the political forces and the tribes of Yemen announced a general alarm to mobilise one million Yemeni fighters near the border with Saudi Arabia to invade its territory and curb its aggression on Yemen.”
The paper quoted a spokesman for the Yemeni army, Brigadier General Sharaf Ghalib Luqman, as claiming that his army has captured Saudi, Emirati, Bahraini and Qatari fighters in the province of Marib and will present them to the media in the coming days.
It added that Yemeni army units and Houthi rebels have besieged two Qatari battalions in Marib and that Qatar has appealed to Saudi Arabia not to bomb the region to ensure its citizens will not be victims of “friendly fire”.
Remarking on the Houthi attack on the Safer camp in Marib, Kayhan reported that Saudi Arabia has moved all soldiers from the base into its territory after the killing of 300 Emirati, Saudi and Bahraini fighters.
‘Mystery Inside an Enigma’: Why Are US Neocons Dying to Intervene in Syria?
American analysts are weighing pro et contra of a potential Syrian campaign; “aye, there’s the rub”: if Washington topples Syria’s Bashar al-Assad, the political vacuum will be most likely filled by the notorious ISIL and al-Qaeda extremists, Patrick J. Buchanan warns.
While the European refugee crisis goes on, voices have emerged demanding that the ongoing fighting in Syria should be ended; however, some Western experts go so far as to urge Washington to send US troops or well-armed American proxies to oust democratically elected Bashar al-Assad, claiming that the Syrian President is the root of all evil in the Middle East.
Furthermore, they accuse Russia of supporting Damascus and turn a blind eye to the fact that Moscow is contributing a lot to a difficult battle against terrorism in the region.
Referring to the fact that the American strategy in Iraq and Libya has proved ineffective and disastrous, Timothy E. Kaldas, a Cairo-based analyst and non-resident fellow at the Tahrir Institute for Middle East Policy, poses a question: how will the US’ Syrian operation be different?
“How will this be different? What specific changes in the strategy will mitigate the disastrous consequences of the invasion of Iraq or the air strikes in Libya so as to prevent continuing the cycle of violence that has contributed to the destabilization of the region and the displacement of tens of millions of people? Failure to begin by answering this question means forming a plan that will deliver the same tragic failures we have become all too familiar with,” Kaldas asks the advocates of intervention in his article for Defense One.
On the other hand, US conservative political commentator and author Patrick J. Buchanan warns that if Washington topples democratically elected Syrian President Bashar al-Assad, the political vacuum will be filled by Islamists, namely the notorious Islamic State.
Jim Sinclair’s Commentary
Thank God there is no inflation!
In America’s most expensive city THIS is what $350K buys you in San Francisco
- A dilapidated and tiny two bedroom, one bathroom home is being sold in the Outer Mission neighborhood of the city for $350,000
- The 765-square-foot wood siding house is being showcased as a ‘single family’ listing
- Built in 1906, it is described as a ‘distinguished home in need of work’
By REGINA F. GRAHAM FOR DAILYMAIL.COM
PUBLISHED: 19:33 EST, 17 September 2015 | UPDATED: 00:34 EST, 18 September 2015
In many cities across the country, $350,000 is enough to buy a nice sized home with all the trimmings.
But in America’s most expensive city, San Francisco, that amount of money is only enough to land a person in a wooden shack.
A new real estate listing in the Outer Mission neighborhood of the city has a dilapidated 765-square-foot wood siding home for sale for $350,000.
The two bedroom and one bathroom California dwelling sits on a 1,633-square-foot lot on 16 De Long Street in the city.