Posted at 1:01 PM (CST) by & filed under Jim's Mailbox.

Jim Sinclair’s Commentary

This article is written by CIGA Perks. Our CIGA is called Perk by his friends, I call him a total genius.

When it comes to political commentary, keep in mind we will all in the USA have a favorite when voting, but “None of the above” should be a legal mandate for a do-over with all contenders eliminated.

February, 2016 Review

World Economy.

‘We cannot solve our problems with the same thinking we used when we created them.’ Albert Einstein. (1879-1955)

Back in the day, the world’s successful economies largely ran on three basic principles:

  1. Free and open markets.
  2. Small government.
  3. Sound money. (ie. currency units redeemable in a precious metal unit.)

Sadly, all three have been largely replaced by debt, debt instruments and debt derivatives; the proliferation driven by institutions dependent on their usage; banks and governments. In that order.

Despite the clear failure of this methodology in 2000 and 2008 and the application of the remedy to simply do even more of the same, we now arrive at another crisis; the same, only larger.

A certain Four Horsemen are mounting up.

Regional Economies.

The USA:

‘A great civilization is not conquered from without, until it has destroyed itself from within. The essential causes of Rome’s decline lay in her people, her morals, her class struggle, her failing trade, her bureaucratic despotism, her stifling taxes, her consuming wars.’ Will Durant, The Story Of Civilization III, Epilogue, 1944.

‘By 2020, the US Government will be spending more annually on debt interest than the total combined military budgets of China, Britain, France, Russia, Japan, Germany, Saudi Arabia, India, Italy, South Korea, Brazil, Canada, Australia, Spain, Turkey, and Israel.

‘Through government spending, the indulgence of one is the burden of another; through government borrowing, the excess of one generation becomes the yoke of the next; through international bailouts, one nation’s extravagance becomes another nation’s debt.

‘Everyone takes, nobody makes, work doesn’t pay, indulgence doesn’t cost, money is free, and money is worthless.’ Pierre Poilievre (1979- ), Canadian Member of Parliament.

‘Remember, democracy never lasts long. It soon wastes, exhausts, and murders itself. There never was a democracy yet that did not commit suicide.’ John Adams. (1735-1826)

Sadly, the 2015 review of the US economy is almost exactly the same this year. Only worse:

The beginning of the end has been reached for American hegemony. The desperation in its economic ‘management’ and Foreign Policy is tangible, as is the fear of any rise in interest rates which would be the death knell for the economy. Such as it is.

With the on-going shredding of its Constitution, major corporations representing Banking, Energy, Food, Big Pharma, Armaments and the Media, now effectively control Congress, and the regulatory watchdogs; ie. The Government. This once bastion of Capitalism has descended into Crony Capitalism. Defn.: Big Government + Big Business = Fascism. Head fer the hills, Billy-bob.

Government/Banking manipulation and corruption of all markets, has now become embarrassingly obvious, with class-action suits beginning.

There is also a growing awareness of the inevitable concomitant rise in social unrest as its economy and culture disintegrates. Army ‘exercises’ have begun in urban areas together with a militarization of police forces, nation-wide.

Years of meddling in the Middle East to control oil supplies has transformed the region into one huge powder keg, and the wick is lit….and ISIL has the petrol.

The disastrous, obvious attempt to goad Russia into war over Ukraine has only resulted in an almost complete loss of support from allies and made plain its increasing ineffectiveness as a World power.

Summary of statistics for 2015:

Decreasing: GDP, tax receipts, housing starts, corporate earnings and CAPEX, exports, dollar hegemony, ‘petro-dollar,’ military capability, household income/consumption, vehicle sales, productivity, wealth, water, gold ‘reserves,’ food production, water, birth-rate, hope. Some ‘recovery,’ Mr. Obama.

Increasing: Debt (federal, state and municipal government, personal and ‘student.’), debt service, inflation, US$ devaluation, government spending, wage disparity, welfare/entitlements/food stamps, unemployment, ‘money printing,’ corruption, financial/banking fraud, trade and budget deficits, taxes, college tuition, infrastructure decay, poverty, drought, hunger, guns ownership, social disorder, crime, government/bank manipulations in all markets (incl. algorithmic ‘trading!’)


1. No government data have been used in the above summation. Severe credibility gap, to put it mildly.

2. No markets; currency, bond, precious metals, or stock, can be relied on due to constant, heavy, government/bank manipulation/corruption. Too Big To Fail has now apparently become Too Big To Jail.

3. There is no means of rescuing an economy that is 70% consumption, with vast debt and unemployment, no industry, accelerating growth in entitlements, and no mo money. Say Good Night, Uncle Sam, the party’s over!

Watch: The dying dollar and revaluation/default (perhaps a re-issue as a new ‘dollar.’), loss of dollar reserve currency status, Bond market (partic. 10-yr. yields.), derivatives/bank failures/bank runs, ‘bail-ins,’ food stamp levels, Hillary Clinton, shrinkage of entitlements, Donald Trump, loss of personal freedoms/rights, ‘terrorism’/false flag incidents, social disorder; the militarization of the police forces and the DHS grows apace; the camps and trains are ready.

Fund implications: The economy, and the dollar are now being ‘Marked to Market’ and are clearly sinking.

Short markets/dollar; long precious metals/stocks (espec. silver.).


‘We are asking the nations of Europe between whom rivers of blood have flowed to forget the feuds of a thousand years.’ Winston Churchill. (1874-1965)

As with the USA, more of the same this year; only worse. The naked aggression of the Americans/NATO towards

Russia/The Middle East and the growth of Chinese/Russian economic influence and you have the early stages of the Union’s final days.

Summary of statistics for 2015:

Decreasing: Same as the US. More or less.

Increasing: Same as the US. More or less. Plus the invasion of ‘refugees,’ and inherent major social issues.

Watch: Further state defaults/near defaults; Italy, Spain, etc., negative interest rates, bail-ins, gas supply for this Winter, broadening take-up of AIIB/NDB funds, sovereign gold repatriations from the US (you wish!).

Fund implications: The European/UK economies are clearly dying. Long precious metals/stocks (espec. silver.)


‘No asset is safe now. The only choice to hedge risks is to hold hard currency, as in gold.’ Zhang Jianhua, Peoples Bank of China.

Even in Ancient Kingdoms, new brooms sweep clean. China gets a new one every five years.

To continue the reformation of the economy from production-based to consumer-based, the 2014 Plenum of the current 11th. Central Committee released the following reform agenda (it remains the same through 2018.)

  • Land, fiscal and legal reform.
  • Freer markets (resources, stock, interest rates, etc.) to allow normal asset allocation; less state control.
  • Competition in the banking system. (private, gasp, banks!)
  • Competition between private corporations and state-owned-enterprises. (and more accountability for same.)
  • National social security.
  • Exposure of corruption at every level.
  • Birth policy adjusted. (Someone’s discovered demographics! Japanese consultant?)
  • No more labour camps.

For this year, the comments remain largely the same. They are well aware of what’s coming, hence the massive accumulation of gold and silver.

Click here to view the full article…



No more study for now.

CIGA Huguette


Posted at 5:51 PM (CST) by & filed under General Editorial.


Bill Holter from JS Mineset is back to discuss the current state of global economic affairs, and I have one simple question for him. Where is the collapse!?

To sign up for premium content at JS Mineset. Click HERE.

Posted at 11:45 AM (CST) by & filed under General Editorial.

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Posted at 4:34 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

I’m sorry, I cannot resist commenting on this as I have written this so many times I became blue in the face …and now it comes to you from none other than CNBC!  I have asked the question all along, how can the Fed actually tighten given the real economy versus the fairy tale statistics?  Now, we are told it was “all a joke” (maybe because April 1st is right around the corner?).  Seriously, we are now at the point where mainstream mush heads are even saying “rate hikes were a bunch of nonsense” …do you see how close a total and complete financial panic really is?

Why the Fed rate talk was ‘a bunch of nonsense’
Jeff Cox

The Federal Reserve was never hiking rates four times this year. Investors didn’t believe it, and now Fed Chair Janet Yellen has all but explicitly acknowledged it.

Indeed, Yellen’s blockbuster speech Tuesday assuring that the central bank would go slowly on future adjustments to monetary policy only caught some of the market by surprise. Others realized there was virtually no chance of a hawkish Fed in 2016.

“Central bankers at the Fed bark but they won’t bite,” Peter Schiff, frequent Fed critic and founder of Euro Pacific Capital, told “I knew all that talk was a bunch of nonsense.”

At their December meeting, Federal Open Market Committee officials indicated that the likely level for their interest rate target by the end of the year would be about 1 percentage point higher than it was at the end of 2015, translating to four quarter-point hikes.

Events afterward were a roller coaster: A violent market reaction lower, dueling public comments from Fed officials alternating between hawkish and dovish, a market rally, then, most recently, strongly dovish language after the March FOMC meeting and then Yellen’s speech.



Bill Holter’s Commentary

This adds new meaning to “respect your elders”!

Four Young Boys ID’d After SEPTA Outburst Caught On Video
March 29, 2016 8:18 PM By Rahel Solomon

PHILADELPHIA (CBS) — SEPTA police say a group of children were not on a subway train for very long and it is unclear what provoked the incident that was captured on video.

The video has been shared over 1,000 times and the SEPTA police chief says it is outrageous.

The video depicts vulgar language from several very young aggressors while riding on the subway.

“When you watch that video as a parent, as a human being you are alarmed for the well-being of those children,” said SEPTA Police Chief Thomas Nestel.



Bill Holter’s Commentary

I guess the question is this; which one is the fool and which one is not?

Kim Jong-un accepting American aid packages despite vow to ‘destroy entire US territory’
Exclusive: American NGO says it has stepped in to help North Korea despite its leader’s nuclear threats as “unless something is done, patients will die”
By James Rothwell
4:24PM BST 30 Mar 2016

He has threatened to “burn Manhattan down to the ashes” and “destroy the entire US territory” with a nuclear strike.

But North Korean leader Kim Jong-un is quietly accepting aid from an American NGO to tackle his country’s spiraling tuberculosis crisis, the Telegraph has learned.

The Eugene Bell Foundation, which combats drug-resistant tuberculosis (MDR-TB), has delivered its first package to the secretive regime since it carried out its fourth nuclear test in January.



Bill Holter’s Commentary

Where have you heard this before? Central bankers playing the game of “CYA” after leaving office …did they finally “get smart” once they left?

Former Fed President: “Living In Constant Fear Of Market Reaction Is Not How You Manage Central Bank Policy”
Submitted by Tyler Durden on 03/30/2016 09:29 -0400

In the past three months, former Dallas Fed president (before he was replaced with a former Goldman M&A banker) and current Barclays senior advisor, has not minced his words when it comes to his ongoing criticism of the Fed.

Back in January Fisher said (what even Liesman has now suggested) that “We Frontloaded A Tremendous Market Rally” and there is “No Ammo Left”, followed by a second appearance earlier this month when he said that the Fed “Injected Cocaine And Heroin Into The System To Create A Wealth Effect.”

This morning Fisher was again on CNBC to discuss Yellen’s dovish speech at the Economic Club of NY, and said that the Fed is “living in a constant fear of a market reaction. This is not how the way you manage central bank policy.”

Fisher also says that the asymmetry of risks, by which he means the ability to only cut so much when recession hits, is “a big deal and what that means is that Fed does not have a whole lot to give back”, although he adds that “the nice thing is that there was no mention of negative interest rates, and nothing much left.”

No mention of negative interest rates this time: compare that to late 2015 when there was quite a bit of mention of negative interest rates. There will be again.

At this point Liesman interjects about the clear discord at the Fed, pointing out that you had John Williams, Dennis Lockhart who all “move markets by giving speeches” which were clearly hawkish, adding that “if you don’t have your people on board then you create tumult.” Well, he is right: the Fed is now making it up as it goes along meeting by meeting.



Bill Holter’s Commentary

Hillary’s and Soros’ fingerprints all over this one!

The New Part-Time Job: “Get Paid $15 An Hour To Protest At The Trump Rally”
Tyler Durden on 03/30/2016 12:59 -0400

For those wondering why Trump rallies tend to devolve to pugilistic matches, where even belligerent 15-year-old protesting (or perhaps “provocative” is a better word) girls end up getting pepper sprayed much to the media’s fascination, the answer is Craig’s List ads such as the one below, in which allegedly “I’m feelin’ the Bern”-affiliated organizers provide paid positions for protesters at Trump rallies, and which provide not only shuttle buses, parking, and signs (as well as time cards) but also hand out $15/hour (as a “part-time employment”) for said protest activity “due to the economic inequality.”


Well that’s one way to cover the “minimum wage.”

This particular ad has since been removed by its author, although as the Daily Caller recently pointed out, this is a recurring pattern as anti-Trump protesters openly admit answering Craigslist ads and getting paid to protest at Trump rallies. This is what the DC said previously:

The Establishment on both the left and the right, who want to disenfranchise the millions of Republican voters who support Donald Trump, have blamed the staged riots near Trump rallies on Trump or on Bernie Sanders. That’s like blaming the Russians for the Reichstag Fire. Bernie has little to do with these manufactured protests. This is a Clinton operation, a faux protest.

False flag operations have long been common in politics, but these riots are poisonous to the electorate, intentionally designed to turn violent and stifle free speech.

This free speech-busting goon squad operation is directed by supporters of Hillary Clinton. It is paid for mostly by George Soros and and pushed by David Brock at Media Matters for America. It’s also funded by reclusive billionaire Jonathan Lewis, who was identified by the Miami New Times as a “mystery man.” He inherited roughly a billion dollars from his father Peter Lewis (founder of Progressive Insurance Company).



War Drums – The End Of An Empire

In this week’s KWN interview Egon von Greyerz takes a closer look at the geopolitical environment, areas of potential conflict, social unrest and war, and shares his insight on why it is important for today’s investor to identify and understand these risks.

“In the last stages of an empire, a major war is normally the final act to divert attention from the distraught economic situation…”

Egon continues to talk about the many conflict areas that could develop into a major war and how this is linked to the coming economic downturn.

He also looks at an interesting historic correlation between silver and annual wage – a measurement that has got out of sync – and why silver is likely to come back to the historic norm.



Jim Sinclair’s Commentary

Gig jobs are part time without employment benefits. They are part of the myth of a recovery.

Gig jobs should be called also Rig Jobs to make the statistics looks better when they are not.

Gig Economy Take II: Nearly Entire Increase in Employment Since 2010 is in Gigs!
by Mike Mish Shedlock •  March 28, 2016

In my report, How Big is the “Gig” Economy? What about “Permatemps”? I accidentally put commas in the wrong place when reporting the estimated increase in “gig” employment.

With commas in the correct place, the estimated increase in gig employment between 2010 and 2015 is 10,058,540 not 1,005,854 as originally shown.

The BLS shows employment rose 10,628,000 in the same period.

Thus, nearly the entire increase in employment (94.6%) since 2010 has been in the gig economy!

Gig Statistics

1. Total employment in December 2010: 139,301,000

2. Total employment December 2015: 149,929,000

3. 2010 “gig” employment (10% of line 1): 13,930,100

4. 2015 “gig” employment (16% of line 2): 23,988,640

I used “Civilian Employment“, a household survey measure, in my calculations, for reasons fully explained in the original article.

According to the BLS, the growth in employment from December 2010 to December 2015 was 10,628,000. This number was reported correctly.

The study estimates 10% of employment in 2010 was 10% and was 16% of employment in 2015.

Putting commas in the right place on lines three and four, the increase in gig employment in the same period is 10,058,540 not 1,005,854 as originally shown.

Only one person caught this error. Thanks Jan “JdJ”!

Virtually the entire increase in employment (94.6%) since 2010 was in the “gig” economy!

Mike “Mish” Shedlock.


Posted at 1:35 PM (CST) by & filed under Jim's Mailbox.

Jim Sinclair’s Commentary

Courtesy of CIGA St.

March 31, 2016

  1. Gold slipped a bit yesterday, and so “team correction”, who has bought absolutely nothing on the decline from $1280 to $1208, put on their “the correction is on, let’s micro manage these generational lows while buying nothing” hats once again, as they do on every down day in the gold market.
  2. Don’t micro manage generational lows, whether it is in the Chinese stock market, or with even bigger generational lows in gold. Jim Sinclair, who was the world’s largest COMEX gold trader in the 1970s, has suggested this week that a gold revaluation type of event is coming, and could take gold to $3500 in one night.
  3. Jim is from one of America’s most powerful bankster families, the Seligmans, so price tends to do as he projects, but does so bankster style, not extended family style. Blood is thicker than extended water. A lot thicker. Keep that in mind. Look in the mirror. Are YOU Jim’s real family blood, or extended family water? Eat the pain that water brings, using the pen to manage it professionally. Get richer from what the real blood ultimately brings, via reval and what the ultimate asset truly is.
  4. I’ve told you that type of scenario that Jim projects via reval is highly likely. Ben Bernanke transferred wealth to the banksters via deflationary QE, and Janet will transfer more to them via inflation.  Get with the inflationary wealth transfer program that is the here and now, and get out of the past.  Wake up: Ben is gone.
  5. Jim’s target for the C wave that may already be in play is $2100. Team correction will analyse it all the way to $2100, buy there, and get smoked as it sells off hard from around there.  Then they’ll short it on the sell-off, and the banksters will then revalue them, permanently, into the garbage can.
  6. Business owner investors are trying to use their business owner skills to handle themselves in the gold market. The business owner bets that if he recovers to break-even in fiat terms, the odds of the market taking him heavily underwater again are low, and so he/she can buy with more confidence then.
  7. At the rawest level, that strategy has some merit. Under the hood of that race car, though, there are engine
  8. e problems; value funds won’t be in play.  Banksters don’t play many games with price in a market when the value funds are engaged in massive buy programs, as they are with gold now.
  9. When the value funds are replaced with levered hedge funds, which occurs when the business owner is roughly near his break-even zone on price-chased buys of the past, the games begin, and the business owner gets whipped around like a rag doll as those games go on relentlessly.
  10. The tactics that work with the ultimate asset are, by definition, the ultimate tactics used by Indian jewellers, Western banksters, value funds, and some top FOREX economists. The gold investor’s tools are the pgen, real interest rates, risk-off fiat, massive HSR (horizontal support and resistance), demand versus supply, and fundamental mine company profit cycles.  The COT reports work, but work best as a pgen assistance device around major HSR.
  11. As Janet hammered the US stock market with her first rate, Captain Ewave and I told you the Dow Industrials could make a marginal new high (probably not accompanied by the Transports), and then collapse to new lows. A number of top bank econs said the same thing.  The gurus told you how terrified they were of lower prices.
  12. Already these gurus are starting to point their price projection arrows into the sky, as all glorified price chasers do on every rally. 
  13. Real rates fell with the first nominal hike, and yet the Dow couldn’t do anything but implode at a .50% nominal level. The entire Western gold community, almost without exception, was maniacally shorting the Dow at the Oct 2008 lows, and into the rally from the March 2009 lows, and I mean  
  14. They learned zero from that exercise. They then bought the Dow, equally maniacally, into the 2014 highs, while selling gold stocks even more maniacally at beyond-epic losses, at the same time, beginning the loss of sanity lows period for gold stocks. 
  15. I told you Janet would give the Dow price chasers a break, but she may be eager to hike in April, so she can watch them get blown away in May.
  16. The Western gold community is not going to buy any gold or gold stocks in size, until after gold rises above $1923. You can write that down and spike it to your head with a gold railway spike, or the headmaster of the bull era, Raj Mehta of India, will do it for you. 
  17. After they sell that at huge losses on the massive hit that follows, gold will almost certainly be revalued, and that will mark the permanent end of the Western gold community.
  18. Whether you are permanently destroyed alongside those idiots or not, Raj Mehta, most of China, and all of India really won’t care, and nor will the value funds that are chasing price now.
  19. There’s only one time to chase price in an asset class that can work, and that’s when the value funds are buying. One guru who was stupidly shorting gold into the Dec $1045 lows while bragging he knew it was going to $800 now is ridiculing the head of trillion dollar fund manager Blackrock for buying gold.
  20. Like all the other stupid gurus, after puffing on his crackpipe, he imagines that Ben Bernanke the deflationist is still head of the Fed. Earth to gurus on Mars: Janet tapered Ben’s deflationary QE crap into the garbage can, and blasted gold higher with her first rate hike. She’s going to move the QE money ball into the financial system, blast money velocity higher, and make you richer.  The only question is, can YOU handle that?  Or, are you going to be shorting gold and “calling a correction” with your micro manager master tools, while she revalues it?
  21. If you want to follow some guru crackhead into his toy time machine and pretend that Janet is Ben, feel free to do so, but neither Blackrock nor I will be joining you, and nor will 2.7 billion goldaholic Chindians.
  22. To get into a time machine that actually works, to take yourself to 1950s America, please click here now: The Chinese stock market is in a massive consolidation, and when it breaks out to the upside, it’s probably going to $500 and higher. 
  23. Gold revaluation is only going to add to that mega-party. Does anyone really understand how rich the citizens of India are going to become, as gold is relentlessly revalued higher? 
  24. He who has the gold makes the rules, and the only question is, do YOU have any to make rules with? I’ll cover the Indian stock market, via INDA-nyse, today in video on the GU site.
  25. Gridtime! America’s 1950s time in the economic leadership sun is going to look like a caveman scene, compared to what is coming from China and India.  Don Trump will do just fine as that happens.  After all, take a look inside his home; it’s soaked in gold!  Let’s hit the cusp of the bull era gridlines now, as they shimmer, with your gold!  I’ll see you there!





Actually, it doesn’t matter who wins. Any candidate will be good for gold.

The Democrats, of course, will increase spending and debt to support welfare programs. The Republicans, aside from Trump, are all looking to go to war by playing policeman to the world, and thusly increase deficits.

Trump on the other hand, although against supporting a multitude of wars throughout the world (by making our Allies pay for them), will nonetheless increase spending also. Only this time, on infrastructure. Hence, more debt and money printing.

On a side note, Trump said in a recent debate that he was disappointed to see Caterpillar and John Deere lose market share to Japan’s Komatsu (because the Yen’s weakness makes CAT and DE uncompetitive). If he was president, that would stop. You’d only see CAT and DE on construction sites. Hence, buy their stock when he gets elected.

Of course, if you could find a solid gold tractor by CAT or DE, then by all means… go for it.

CIGA Wolfgang Rech


We agree with most all of this. The only thing is, if Trump wins we hope they take the “football” away from him!


If The Fed Can’t Help Gold, Can Trump?
By Sarah Benali
Wednesday March 16, 2016 13:54

(Kitco News) – In only four months, American voters will find out who the next presidential nominees are and in a mere eight months will hit the polls to elect the leader of the world’s largest economy.

The real question remains: who will best benefit your portfolio?

According to U.S. Global Investors CEO Frank Holmes, it just might be front running Republican Candidate Donald Trump.

‘It is whoever has the best fiscal policies and right now it appears to be Trump,’ he told Kitco News Wednesday.

However, when it comes to gold investments, it may be a democratic candidate that will help the yellow metal, he said. ‘I think Bernie would be the best for gold.’

According to Holmes, socialist countries tend to suffer economic problems, which helps gold. And, Sanders, in Holmes’ opinion, is a socialist.

Tuesday, Donald Trump significantly increased his number of delegates, despite his loss in Ohio. Trump managed to push Senator Marco Rubio out of the race, beating him in his home state of Florida in the latest string of primary results. On the democrat side, Hillary Clinton extends her lead, beating Bernie Sanders in Florida, Ohio, Illinois and North Carolina. Missouri results are yet to come out.


Posted at 12:28 PM (CST) by & filed under In The News.

My Dear Friends,

  1. As Bill has mentioned previously, neither he nor I ever disagreed with Armstrong and Dent of the advent of dire business circumstances.
  2. Our difference was in what such a re-occurrence of 2007 to 2009 would mean in the market for silver and gold.
  3. You need no more proof than today’s presentation by Chair Yellen as to how all central banks in the global community will react.
  4. They will simply burn their own and everyone else’s barn to the ground.
  5. Helicopter Ben was only a side show compared to Air Attack (airborne fire pilot’s rating) Yellen.
  6. She will fly in tight formation with other central banks, bomb bays open and drop unlimited credit cards in all denominations of fiat currency.
  7. The hawk statements are pure lies.
  8. The worst fabricators are the make believe economic statistics.
  9. The cheerleaders are the talking heads and MSM.
  10. The rally from the low in gold has $2100 written on it.
  11. The angels are starting to function again. That function is simply a welcome back by those who made them rise above $1900.
  12. The key to $3500 in gold is your answer to a simple question. What is the value of a commodity in gold that cannot function? These are now starting to compete with the old OTC derivatives in the leverage of traded ounces to warehouse ounces. Just like how the OTC derivative failed, so shall the Comex contracts.
  13. The next morning the gold price on physical will be whatever Russia and China desire. This is the overnight change that will shock the world.
  14. China and Russia do not buy gold to make an investment or diversify their reserves. The buy gold as an economic and political policy.
  15. This overnight event will prove the saying true that the right time to buy gold is anytime.

In gold nobody ever promised us a rose garden. The violence we will see in this market is only hinted at now. It is not for the faint of heart. It is, however, for your protection and the only device that will offer that.

Yellen: Fed to move ‘cautiously’ on rate hikes
Paul Davidson, USA TODAY 5:59 p.m. EDT March 29, 2016

Federal Reserve Chair Janet Yellen said Tuesday the central bank will move cautiously as it weighs interest rate hikes in light of a weak global economy and stubbornly low inflation, raising questions about whether policymakers will make a move this spring.

“Given the risks to the outlook, I consider it appropriate for the (Fed’s policymaking committee) to proceed cautiously in adjusting policy,” Yellen said in a speech to the Economic Club of New York.

Her remarks are consistent with the surprisingly wary posture the Fed adopted after a March 15-16 meeting in the wake of a rebound in financial markets and an uptick in inflation. That view was cast into doubt last week after Atlanta Fed President Dennis Lockhart and St. Louis Fed chief James Bullard provided generally upbeat appraisals of the economy and said policymakers could lift rates as early as an April 26-27 meeting.

Yellen, however, said  the risks of raising rates too soon and derailing growth outweigh the hazards of the Fed needing to catch up to a stronger-than-expected economy, largely because policymakers have fewer weapons to jolt the economy with its benchmark rate still near zero.  The Fed raised the rate in December for the first time in nine years.

“If economic conditions were to strengthen considerably more than currently expected, (the Fed) could readily raise (rates) to stabilize the economy,” Yellen said. “By contrast, if the expansion was to falter or if inflation was to remain stubbornly low (the Fed) would be able to provide only a modest degree of additional stimulus by cutting the federal funds rate back to near zero.”

If there is a downturn, Yellen said still has tools. It could assure markets that it will keep its benchmark rate lower for longer. And she said policymakers could resume bond purchases to hold down long-term rates. But she made no mention of negative interest rates – a strategy being pursued by the European Central Bank, Japan and several other countries — possibly indicating she doesn’t consider that a viable option.



Bill Holter’s Commentary

“Especially warranted” if she doesn’t want to take the blame for the coming financial panic!

Yellen Says Caution in Raising Rates Is ‘Especially Warranted’
Craig Torres

Federal Reserve Chair Janet Yellen said it is appropriate for U.S. central bankers to “proceed cautiously” in raising interest rates because the global economy presents heightened risks.

The speech to the Economic Club of New York made a strong case for running the economy hot to push away from the zero boundary for the Federal Open Market Committee’s target rate.

“I consider it appropriate for the committee to proceed cautiously in adjusting policy,” Yellen said Tuesday. “This caution is especially warranted because, with the federal funds rate so low, the FOMC’s ability to use conventional monetary policy to respond to economic disturbances is asymmetric.”

Fed officials left their benchmark lending rate target unchanged this month at 0.25 percent to 0.5 percent while revising down their median estimate for the number of rate increases that will be warranted this year to two hikes, from four projected in December.

U.S. Treasuries advanced following her remarks, while the dollar weakened and U.S. stocks erased earlier losses. The Standard & Poor’s 500 Index was up 0.5 percent to 2,046.90 at 1:52 p.m. in New York, after falling as much as 0.4 percent.



Bill Holter’s Commentary

Say it isn’t so!?

Top German Journalist Admits Mainstream Media Is Completely Fake: “We All Lie For The CIA”
Submitted by Tyler Durden on 03/28/2016 22:40 -0400

With the increasing propaganda wars, we thought a reminder of just how naive many Westerners are when it comes to their news-feed. As Arjun Walia, of, notes,  Dr. Ulfkotte went on public television stating that he was forced to publish the works of intelligence agents under his own name, also adding that noncompliance with these orders would result in him losing his job.

He recently made an appearance on RT news to share these facts:

I’ve been a journalist for about 25 years, and I was educated to lie, to betray, and not to tell the truth to the public.

But seeing right now within the last months how the German and American media tries to bring war to the people in Europe, to bring war to Russia — this is a point of no return and I’m going to stand up and say it is not right what I have done in the past, to manipulate people, to make propaganda against Russia, and it is not right what my colleagues do and have done in the past because they are bribed to betray the people, not only in Germany, all over Europe.



Bill Holter’s Commentary

What are they expecting?


WASHINGTON (AP) — The State Department and Pentagon ordered the families of U.S. diplomats and military personnel Tuesday to leave posts in southern Turkey due to “increased threats from terrorist groups” in the country.

The two agencies said dependents of American staffers at the U.S. consulate in Adana, the Incirlik air base and two other locations must leave. The so-called “ordered departure” notice means the relocation costs will be covered by the government.

Pentagon press secretary Peter Cook said no specific threat triggered the order, but said it was done “out of an abundance of caution” for the safety of the families in that region. He said he was not aware of a deadline for the families to leave, but said “this will move very quickly.”

In a statement, the military’s European Command said the step “allows for the deliberate, safe return of family members from these areas due to continued security concerns in the region.”

The orders cover the Adana consulate, U.S. military dependents in Incirlik, Ismir and Mugla as well as family of U.S. government civilians at Ismir and Mugla. The State Department also restricted official travel to that which it considers “mission critical.” Cook said that the order does not affect about 100 family members who are based in Istanbul and Ankara.



Jim Sinclair’s Commentary

You could not make this stuff up. No one would believe you.

Full Metal Retard Part Deux: CIA-Backed Rebels Now At War With Pentagon-Armed Fighters In Syria’s Aleppo
Tyler Durden on 03/28/2016 19:45 -0400

It would be difficult to find a program that better exemplifies the word “failure” than the Pentagon’s “train and equip” effort in Syria.

Last May, US Central Command issued a hilariously absurd press release outlining what was quite obviously going to be a disastrous effort to arm rebel fighters. “The US military and partner forces have begun training the initial class of appropriately vetted Syrian opposition recruits this week to support the effort to degrade and ultimately defeat ISIL in Syria,” the PR read.

The idea was to field a contingent of more than 5,000 fearsome warriors by the end of the year.

Long story short, the effort was a fiasco – a complete debacle – a hilarious screwup. First, Colonel Nadim al-Hassan and an unknown number of other fighters from “Division 30” were kidnapped in the Aleppo countryside in July. “A senior U.S. defense official confirmed the snatched fighters had gone through the initial vetting process to receive training in Turkey,” The Daily Beast wrote at the time. “But then, for reasons that remain unclear, they traveled to Syria before they were ready to do battle with ISIS.” Subsequently, al-Nusra simply arrested them at a checkpoint near Zahart al-Malkia.

“We warn soldiers of (Division 30) against proceeding in the American project,” the al-Qaeda affiliate said in a statement distributed online. “We, and the Sunni people in Syria, will not allow their sacrifices to be offered on a golden platter to the American side.

As humiliating as that most certainly was, it got far, far worse. In late September, rumors circulated that Division 30 commander Anas Ibrahim Obaid had defected to al-Nusra after he disappeared in Aleppo.