Posted at 6:38 PM (CST) by & filed under In The News.

Jim Sinclair’s Commentary

Three guesses what this is primarily about. How many of the brothers are Isis?

Hundreds of Refugees Vanish Without a Trace in Germany
00:53 28.10.2015(updated 00:58 28.10.2015

Roughly seven hundred of 4,000 asylum-seekers who had been initially accommodated in the German state of Lower Saxony have mysteriously disappeared, and because of administrative breakdowns, local authorities are clueless about who and where they are.

The staggering figures were revealed by local officials in the northwest German state by a survey conducted by the Neue Osnabrücker Zeitung (NOZ) newspaper. Because many of the refugees hadn’t been registered yet, nothing is known about who they are or where they might have gone.

Some have speculated that the immigrants departed from the mostly rural province to either reunite with their relatives or to look for more attractive places to stay elsewhere in Germany or even abroad, according to the Local. Others point to failures to provide adequate housing for refugees.

Moreover, refugees are often disoriented after arriving in Bavaria.

“Most of the time they don’t know where they are. We recently put up a map of Germany so they can orientate themselves,” Timo Frers, spokesman for the town of Delmenhorst, Lower Saxony, told the Local.

In Lingen, an hour and a half west of Delmenhorst, nearly half of the 212 immigrants initially placed in the local refugee center left and moved on to undisclosed locations soon after arriving, according to officials.

German officials slammed the current situation, stressing the need to get all people looking for asylum in Germany registered promptly once they’ve entered the country. Angelika Jahn, a spokeswoman for the Christian Democratic Union (CDU), said that non-compliance to that rule is “unacceptable.”

According to the Federal Ministry of Labor, some 300,000 immigrants arriving in Germany are expected to move on to other European states.


Posted at 11:29 AM (CST) by & filed under Bill Holter.

Dear CIGAs,

Calling your attention to two recent stories, the debate over the debt limit and Russia’s new moves into the Middle East, are they mutually exclusive or are they somehow connected?

Looking at the debt ceiling first, we are yet again living the lunacy where the U.S. tells its people and the rest of the world “see, we are not broke”! In a sense this is true because when all is said and done, the U.S. can incur any amount of debt required or desired because dollar bills (FRN’s) can be printed or issued to pay for the debt and its service. From a practical point however, this is not true. Should the ceiling be raised to $19.6 trillion and promptly funded to that amount, we will be poking our heads over the 110% debt to GDP level.

Please don’t tell me I am nuts …because the true debt, unfunded liabilities and promises amount to more than $200 trillion …and the GDP number of close to $18 trillion “may” include a bit of “double counting”. Just assuming the official numbers are real at 110% of debt to GDP poses a problem. The problem is this, as previously mentioned 100% debt to GDP is the doorway to becoming a banana republic. And yes, there are “worse” (particularly Japan over 300%) but, we are talking about the issuer of the world’s reserve currency. How can they walk through the banana republic door and still expect any respect from the rest of the world?

Moving on to the next story, a mere month after Russia began aid to Syria’s Assad, Afghanistan is now asking Moscow for aid …and they very well may receive it! But why? And why now? First, “why” is simple, the U.S. has acted like a mob owned cop enforcing only what they wanted and actually stirring the pot so that calm and peace have had no chance in the Middle East. Why now is also simple, the U.S. was scheduled to pull 9,000 of the remaining 10,000 troops put of Afghanistan over the next year. This would have left a void the Afghani government could not fill. This exodus has since been called off, maybe “harvest” season came to mind?

These two stories I do believe have some commonality. They both illustrate “power” slipping from the grasp of the U.S.. The two big sticks, the dollar and military are being seen as weakening. Can you imagine five years ago …or especially 10-20 years ago the Russians militarily entering the Middle East? Or the Chinese importing the current tonnage of “blasphemous gold” or worse, setting up an alternative to the SWIFT clearing system?

I mention these two latest developments and ask you to look back in time because prior, it would be UNBELIEVABLE. Yet now after being in a pot of heated water, we are being boiled while people don’t even question it. It’s like business as usual and no one cares …in the U.S. that is. I assure you many foreigners see this far differently than most Americans! Many foreigners see exactly what is happening, why, how and how it will end. We have gone morally, socially and financially broke slowly to this point …now we await the “then all at once” part.

To finish, the U.S. is being respected like a banana republic who issues hollow threats. The most recent, and we still need to see the outcome are U.S. naval vessels being sent to the South Sea Islands. China has already publicly said “what in the world can the Americans be thinking?” Yesterday president Obama ordered the USS. Lassen to sail within the 12 mile international limit

I hate to say the following but it is obvious. China is the largest creditor to the U.S.. Should they become irritated and angry enough, they could simply sell Treasury securities and cripple our debt markets. For those of you who will surely write me saying “China will never do this and even if they did, the Fed will just buy all the Treasuries sold”, I say this …and what if China sells just a relatively small amount of U.S. Treasuries …and uses that capital to bid for every ounce of gold the West has to offer? Can the Fed “print” tonnage for delivery? How much would this operation take? $5 billion? $10 billion? Does it really matter as China can surely bid for every single Western ounce many times over with money to spare? Do not laugh at this potential as I am sure it has crossed more than one Eastern mind years ago!

Standing watch.

Bill Holter
Holter-Sinclair collaboration
Comments welcome, [email protected]

Posted at 11:28 AM (CST) by & filed under In The News.

Jim Sinclair’s Commentary

Mr. Williams shares the following with us.

- September Durable Goods Orders Sank Year-to-Year for Eighth Straight Month, Both Before and After Any Consideration for Inflation or Aircraft Orders
- Detail Remained Consistent with an Unfolding Recession
- Some Tightening in Home-Buyer/Seller Liquidity Conditions?
- Existing-Home Sales in Foreclosure Notched Higher as Did All-Cash Sales
- Low-Level Stagnation in Smoothed New-Homes Sales Activity Shifted from Flat- to Down-Trending in September Detail

“No. 762: September Durable Goods Orders, New-and Existing-Home Sales “


Jim Sinclair’s Commentary

More good economic news.

U.S. New-Home Sales Tumble in September
Decline suggests a highly volatile segment of the housing market could be cooling
By Anna Louie Sussman And Kris Hudson
Updated Oct. 26, 2015 12:34 p.m. ET

WASHINGTON—Sales of newly built homes fell across the country in September, suggesting a segment of the housing market could be cooling.

Purchases of new single-family homes fell to a seasonally adjusted rate of 468,000 in September, the Commerce Department said Monday, down 11.5% from August’s downwardly revised rate of 529,000.

The reported figure has a margin of error of plus or minus 11.3%.

Economists surveyed by The Wall Street Journal had expected a figure of 555,000.

September’s pace of newly built home sales is up 2% from September a year ago.

There were 5.8 months’ supply of newly built homes in September, the highest level since July 2014. The number of homes for sale at the end of September stood at 225,000, the most since March 2010, although most of the 9,000-home uptick was in homes that weren’t yet started or still under construction.

Home builders have reported labor shortages as many construction workers who lost jobs during the recession moved on to other industries or left the labor market altogether.

Edwin Woods, a division president of Dan Ryan Builders, which operates in six East Coast states, said inventories are tight in his region in North Carolina because supply isn’t keeping up with demand. He hasn’t been able to keep speculative homes—those that go under construction without a buyer lined up—in stock.

“We barely have any homes currently available that will deliver in the next 60 days,” Mr. Woods said.



Jim Sinclair’s Commentary

Things getting tough in the Saudi oil patch?

Saudi prince arrested on private plane with 2 tons of drugs – reports
Published time: 26 Oct, 2015 13:19
Edited time: 27 Oct, 2015 12:45

Lebanese security forces are interrogating a Saudi prince on charges of carrying drugs on his private plane after they allegedly retrieved 2 tons of narcotics from the aircraft, local media reported.

Abd al-Muhsen bin Walid bin Abd al-Aziz Al Saud was detained on Monday in Beirut’s Rafik Hariri International Airport.

The prince was about to conduct a flight on his private plane to Saudi Arabia.

Lebanese TV station Al Mayadeen also said that 40 packages of drugs, weighing 2 tons in total, were confiscated.

The prince was arrested and taken in for questioning along with four other people.

According to Press TV they were charged with attempting to smuggle pills of captagon, an amphetamine allegedly widely used among fighters in the Middle East.


Posted at 1:05 PM (CST) by & filed under In The News.

SILVER is the CHEAPEST ASSET on Earth — Bill Holter


Jim Sinclair’s Commentary

Each step forward for China is a step forward for the Yuan and backwards for the dollar.

Britain goes out on a limb to pivot with China

Britain really rolled out the red carpet this week for China’s President Xi Jinping.  In addition to the usual pomp, pageantry and banquets in white tie at Buckingham Palace and the Guildhall in the City of London, there were an almost bewildering variety of official visits to squeeze into the president’s four-day trip, from universities to football clubs, from London to Manchester, reported the Economist. Mr. Xi even addressed both houses of Parliament, a privilege reserved for very few dignitaries.

The United Kingdom has a lot on the line here as it tries to embrace the world’s second-largest economy. While the small UK market isn’t of much interest to China, the Bank of England was the first G7 central bank to sign a swap agreement with China’s central bank; Chinese commercial banks recently sold offshore yuan-denominated bonds in the City; and on October 20th, the first full day of Mr. Xi’s visit, China sold its first sovereign bond in London, worth over $4 billion, reported the Economist.

China was very happy that Britain became the first western nation to join the China-led Asian Infrastructure Investment Bank in March.

And the UK seeks to get some of the investment money China is throwing around, on Oct. 21st the government sanctioned a £6 billion ($9.3 billion) investment by a Chinese state power company in a nuclear plant being built at Hinkley Point in Somerset by the French company EDF with the promise of more nuclear deals to come. There are also expectations that the Chinese will invest in several projects to help develop a “Northern Powerhouse” of English cities.

Not everyone in Britain is happy at the move to a closer relationship with China and Britain risks alienating the US which criticized the recent moves as separating Britain from America and undermining western resolve to stand up to China in regions like the South China Sea, and on questions of human rights, said the Economist. But in the end, human rights usually take a back seat to economic interests. So whether the displeasure of the US has any effect remains to be seen.


Posted at 12:17 PM (CST) by & filed under Jim's Mailbox.


The Fed and former Fed Chairman Ben are advocating negative interest rates. Now you’ll have to pay the government to save your money and be fiscally responsible.

They fear people are saving money and not getting deeper in debt.

They want everyone to spend as much as possible, even if it means getting in over your head.

CIGA Wolfgang Rech

The Fed’s next move? Negative interest rates
Michael Pento, president and founder of Pento Portfolio Strategies

Ben Bernanke told Bloomberg Radio that, despite having the “courage to act” by printing trillions of dollars, he thought other unconventional issues (such as negative interest rates) would have adverse effects on money-market funds. However, anemic growth in the U.S., Europe and China over the past few years has now changed his mind on the subject.

Supporting this notion, New York Fed President William Dudley recently told CNBC, “Some of the experiences [in Europe] suggest maybe can we use negative interest rates and the costs aren’t as great as you anticipate.”

Strategies such as pushing interest rates into negative territory, outlawing cash, and sending electronic credits directly into private bank accounts may appear more palatable in the midst of market distress. The point is that central banks and governments can produce either monetary condition of inflation or deflation if the necessary powers have been allocated.




Take your cue from a major corporation. It’s an ominous sign of things to come.

If you’re not familiar with Weimar Germany of the 1920′s, google it and see what you’re in for.

Others are getting ready for the finale’.

CIGA Wolfgang Rech 

This Major Internet Company Has Stockpiled Three Months of Food and $10 Million In Gold For Their Employees: “We Don’t Trust Wall Street”
October 25, 2015

While the world’s super elite prepare everything from stylish bunkers to emergency submarines, most couldn’t care less about their millions of employees should a widespread crisis strike financial markets or the economic system.

There is, however, one notable high-net-worth exception according to a recent speech from Chairman Jonathan Johnson who notes that after many years of getting hammered by short-sellers they’ve lost total trust in Wall Street and the government’s ability to look-out for the little guy.

As such, Johnson’s company has taken preemptive measures in anticipation of a major event that could take down payment systems, lock up credit flows and make it impossible for employees to meet their basic needs.




Ever hear of a Double Barrel Shotgun?

Here we have a situation that uses this moniker as a metaphor for China AND Saudi Arabia dumping their US Treasuries.

CIGA Wolfgang Rech

Forget China, Saudi Arabia Could Demolish The US Dollar
Submitted by Secular Investor on 10/25/2015 10:59 -0400

You probably have heard this numerous times before; the Chinese position in US Treasuries is outright dangerous and China could single-handedly force the US Dollar to weaken quite substantially. Whilst that’s definitely correct, it sure looks like one is overlooking the impact the low oil price has on the public finances of Saudi Arabia.

As the country is mainly depending on exporting its oil to keep its government budget balances, the Kingdom has been hit extremely hard by the 60% drop in the oil price as an almost certain budget surplus was suddenly converted in a huge budget deficit. In fact even during the darkest hours of the Global Financial Crisis, not a lot of countries saw their government budgets dip into the red by in excess of 20%!





Where is the recovery? Nowhere I can see!

CIGA Larry M


Last month was a pleasant surprise for new home sales, but September brought reality back in focus. New home sales crashed by 11.53%.


New homes sales remain in “Death Valley” along with mortgage purchase applications and wage growth.


Despite “Death Valley” new home sales, The Federal Reserve has helped create a rapid rise in the median price for new home sales.


Posted at 4:51 AM (CST) by & filed under Guild Investment.

Dear CIGAs,

Recently we have been hearing from some of our old friends from the gold world.  Except for the occasional trading position, we have not been positive on gold for about four years.  Our attitude has recently changed.  A few weeks ago, and last week as well, we mentioned that gold was becoming more attractive.  In this note we hope to explain our renewed optimism about gold in the intermediate term.

First, a little history.

We view a core holding of gold as an “insurance policy,” and like many Europeans of the 20th century, who lived through two world wars, the Weimar Republic, and all sorts of political irrationality, we believe some gold bullion or coins should be kept in one’s home or in an appropriate facility for safekeeping.  We continue to recommend an “insurance policy” in gold to everyone.

We began investing in gold and gold shares in the 1970s.  When Richard Nixon closed the gold window in 1971, we began to buy aggressively for clients.  We were out of gold for clients above $850/ounce, and received a lot of criticism for abandoning gold, which (some believed) was surely going much higher.  We stuck to our view, and did not buy gold back for all clients until 2003, at $325/oz.  Since late 2011, we have argued for investors to be patient and wait for an entry level for an intermediate-term up move.  Traders have been advised to trade occasionally.

Since we believe that a new entry level has been found for a longer-term move upward, we are using weakness in price to gradually increase positions in gold. We may go further into gold if conditions warrant in the coming weeks and months.

Gold has gradually been moving up for several weeks now, and we see the outline of a bullish case for gold taking shape:

1.  A weaker U.S. Dollar.  As we have been saying in these pages for a few weeks, a weaker or sideways Dollar is necessary for stocks, foreign currencies, oil, and gold to do well.  We have been seeing the Dollar move sideways for several months.


Source: Bloomberg

2.  Inflation heating up a little in some countries (India is one of them).

3.  The U.S. labor market is tight, and although no data has yet been disseminated about higher wages, we see many individual companies raising wages.  Walmart (NYSE: WMT), with about 1.4 million U.S. employees, is raising its minimum wage by 25 percent to $10/hour by February, 2016, in addition to raises for other workers and managers.  Wages are also rising in restaurants and other service industries where qualified employees are in short supply; the same is true in construction.  Unemployment is at a multi-year low, and new claims for unemployment for the week ending October 10 came in at 255,000 — the lowest in over a decade.  Low unemployment means higher wages, and we are already seeing that in several sectors of the US economy.

4.  The probability that El Niño this winter will be one of the most powerful on record; that could upset the price for grains in the U.S. by affecting the production of feed grains in the U.S., South America, and Canada.  This year’s El Niño has already brought an underperforming monsoon in India, leading to expectations of lower agricultural production in the current growing season.  Less crop production creates higher prices for crops, feed grains, and food.  The data to defend these views have not yet become completely clear, but if we wait for the data, gold will already be higher by the time the mass of investors realize that inflation is coming.

5.  Middle Eastern instability and the return of Russia as a serious regional player for the first time in decades.  Henry Kissinger recently wrote an about this in The Wall Street Journal.  Mr. Kissinger has been a shrewd, realistic, and prescient advisor on global political events for decades.  His recent comments in the Journal are a key to understanding the region, as well as past and present U.S. involvement in it.  (Interested readers can find it here: A Path Out of the Middle East Collapse.)  We could summarize his main points simply by saying that the current situation in the Middle East — including the collision of rigid Shi’ite and Sunni blocs, the retreat of the U.S. as a competent power-broker, the rise of non-state actors, the arrival of Russian power, and the threat of nuclear proliferation — presents an exceptionally difficult picture for U.S. policymakers.  Our takeaway is that there are many obvious and hidden triggers and flashpoints which could powerfully affect gold and oil prices.  Given the rising prospects for disruptive events in the region, it seems naïve not to hold substantial positons in gold and oil.

6.  The Chinese Yuan (renmenbi) is growing in clout as a world trade currency, not a reserve currency.  Because the Chinese banking system is not open, the Yuan has a long way to go to become a world reserve currency.  However, it is increasing in stature as a currency of world trade.  We see the formation of a new trade bloc in Asia, with China at the head, as well as the potential for China to be a backup currency for the International Monetary Fund’s SDR basket (along with the Euro, Japanese Yen, British Pound, and U.S. Dollar).  This inclusion is a technical matter, but will increase the status of the Yuan.  A rising Yuan will mitigate upward pressure on the U.S. Dollar, and thus be bullish for gold.

7.  Gold is acting better technically.  Gold hit its recent low in the middle of the night on July 17, 2015 at $1,072/oz.  After most participants have gone to bed, the markets are thin and easier to manipulate.  We have often noticed such manipulations in gold and other commodities over the last four decades.  Often when such manipulations fail to create another downward panic, they lead to market bottoms.

8.  The efficiency of gold mining operations is increasing due to cost-cutting and technological advancements.  Inefficient gold producers are losing money and being forced to sell assets or liquidate.  Well-managed gold mining companies are becoming increasingly efficient (which is bullish for efficient operators).

9.  Last but not least, fear.  Fear of the Fed and its interest rate policy, first, but that’s only a part of something greater: the fear that those entrusted with the reins of the global economy will fail in their charge, whether that’s the Fed, central banks in general, or national politicians.  Investors doubt that these groups have the wisdom or courage to implement a solution to the slowing economic growth that is gripping the world economy.  When investors are generally unsettled or modestly frightened, they walk slowly in the direction of gold.  When investors fear inflation or imminent war, they run to gold.

The rise will gradually continue as the public and government buyers of gold come to the realization that some or all of the following may come to pass.

  • Major disruptions take place in the production of oil.
  • Greater instability begins to be seen in the Middle East, and for the first time in decades the U.S. has little of no control over the outcome, endangering western interests and allies in the region.
  • Global economic growth continues to stagnate in spite of QE, because of unwise actions by politicians as they pander to special interests and neglect their countries’ economic growth.
  • Governments come to the realization that more fiscal and monetary action will be required to maintain growth.
  • Currencies of most countries need to be depreciated to handle debt repayments.
  • Inflation turns out not to be as quiescent as some expect.
  • World gold production falls due to high cost of mining.
  • Short sellers begin to take profits and seek other avenues for investment.
  • Central banks increase the percentage of gold in the foreign exchange reserves in order to protect themselves from economic disruptions.

Until a few months ago we were in the “lower-for-a-few-years” inflation camp.  We changed our view based upon many of the variables mentioned above.

What are the investment implications?  We also made one new recommendation this week.

To learn more about Guild Investment Management, please visit Guild Investment

Posted at 2:24 PM (CST) by & filed under Bill Holter.

Dear CIGAs,

We will no doubt look back upon the current era as the “crime of the century” for so many different reasons. Actually, current times represent the worst financial crimes of ALL TIME! The various crimes and how they are operated are too numerous to list and would probably fill a three volume set of books, let’s concentrate on just one. Central to everything is the U.S. issuing the global reserve currency by fiat knowing full well it truly means “non payment”. The absolute cornerstone to the dollar retaining confidence and thus value has been the suppression of the price of gold.

Before getting to specifically what I’d like to point out, let’s look at a couple common sense points which beg questions. How is it China has been importing 2,400 tons of gold over the past two and a half years without any upward push to the gold price? This amount equals almost EXACTLY the TOTAL amount of gold mined annually around the world! How is it possible that ALL production has been purchased by China and yet the price goes down? The answer of course is quite simple unless you purposely close your eyes or disingenuously “apologize”.

The argument from the apologists is that “traders” on COMEX and LBMA believe gold will go lower so they are sellers and this is where the downward pressure has come from. You as a reader already know that much of the “selling” is done at midnight (or off hours) in the U.S. which is the lunch break in Asia, China specifically. The massive selling (as much as total global production in less than two trading days) has usually taken place during off hours when the volume is lightest and price moves the most, especially with any significant volume. The result has been gold now trades at or very near the cost of production and silver well below production costs. None of this is new, only a refresher. The reaction in the actual physical markets is backwardation, premiums over spot prices and actual shortages. Put simply, low price has brought out additional physical demand.

To the point, the following is a snapshot of inventory movement (or the lack of) within the COMEX gold vaults this month:

Initial standings
Oct 21/2015



Withdrawals from Dealers Inventory in oz


Withdrawals from Customer Inventory in oz  nil


Deposits to the Dealer Inventory in oz


Deposits to the Customer Inventory, in oz


No of oz served (contracts) today

13 contracts
1300 oz

No of oz to be served (notices)

650 contract (65,000  oz)

Total monthly oz gold served (contracts) so far this month

364 contracts

36,400 oz

Total accumulative withdrawals  of gold from the Dealers inventory this month


Total accumulative withdrawal of gold from the Customer inventory this month

184,991.8  oz

Only 185,000 ounces have been withdrawn from the customer (eligible) accounts and ZERO from the dealer (registered) accounts. What is not shown is there have been ZERO dealer deposits and ONLY TWO customer deposits in all month. One of 32,150 ounces and another of just over 300 ounces for the entire month! It is clear the large entry was a “kilo” deposit of one ton even though COMEX deals, quotes and supposedly delivers in ounces.

Why is this interesting you ask? Because at the beginning of the month there were over 10 tons worth of contracts standing for delivery with dealers only having just over 5 tons available to deliver. This figure has now dropped to about 3 tons standing …but the amount of registered gold for delivery is right where it was at the beginning of the month? How could this be if gold has been delivered? Is there a “secret stash” where gold is being delivered from or has “settlement” occurred using cash?

I have my own idea as to why no gold at all has entered the dealer’s vaults, it is a symptom of the disease. If gold was so plentiful we should have seen all sorts of movements of gold into dealer accounts to support deliveries, we have seen none, zero, NADA! Remember, October is an active delivery month which originally had over 10 tons standing for delivery versus 5+ tons available. If we go out to Dec., this contract has open interest representing some 11+ million ounces … while dealers claim only 182,000 to deliver!

Yes, yes, the open interest ALWAYS collapses and delivery “always gets made”. But doesn’t it seem strange to you that a market with less than $200 million worth of inventory is the pricing to a $5 trillion monetary asset? In comparison, a single ranch in Texas just got sold for nearly 4 times the size of what COMEX claims they have available for delivery. It used to be the tail was wagging the dog. Now, COMEX inventory has been bled down so far it can be said just a few hairs on the tail is wagging the dog!

Surely I will receive comments like “this will go on forever” or “don’t worry, nothing ever comes of these delivery months”. It should be pointed out, as it stands right now a single trade of 1,820 contracts represents the entire deliverable inventory and we have seen on multiple occasions where 3,000-6,000 contracts have been sold (in one trade) to collapse the price. I ask, how does COMEX keep this in the box when something very “REAL” happens? “Real” meaning a mere push of our financial system by China? Or a military shove by Russia? Or something as simple as a “truth bomb” being released on the American public? Can an inventory of less than $200 million fiat dollars make good and keep hidden the core crime to the crime of the century? Is this why China is moving toward a physical exchange? Once they “take it out …they will take it up”!

Standing watch,

Bill Holter
Holter-Sinclair collaboration
Comments welcome, [email protected]

Posted at 2:21 PM (CST) by & filed under Jim's Mailbox.


Does Money Supply include all the below?

-Equity investments
-Bond investments
-Credit investments
-Derivative investments

If not, if it is only cash and deposits held in banks (and those are slowly being eliminated), then wouldn’t it be impossible to track the velocity and supply of money in order to judge inflationary pressures?

It seems all money is being diverted into risk assets.

Is true money supply, as an indicator, dead?

CIGA Wolfgang Rech

Dear Wolfgang,

This is a complex item that we have no way of changing. The BLS and Fed will continue to report their data on flawed metrics as you and I see. In this administration it will not change.

Your conclusions are totally correct, but what do we do about the false data we inundated with every day?

The money went to the banks and has disappeared into the monstrous debits created by failed OTC derivatives that still exist. The debits covered transformed the program cash into the vaults of the winners on the derivative and was reported by them as trading profits. It thereby created the 1%.

The worldwide financial entities were broke and are still if “mark to market” accounting was reinstated by the gatekeepers on truthful accounting who have sold their souls, also known as the FASB.

These falsehoods will not stop the economic reactions to the truth, just slow it down. The result is certain, and will occur and are now taking form.

Stay the course and do not allow the hired hands of the opposition scare you out here. Payment can be made in many ways including acceptance by the elite they strain to become.

Remember them all when Gold closes over $2100.


Banks Are Now Rejecting Deposits… Is a Cash Ban Next?
Submitted by Phoenix Capital Research on 10/22/2015 10:11 -0400

The Central Banks hate physical cash. So much so they there will likely try to ban it in the near future.

You see, almost all of the “wealth” in the financial system is digital in nature.

1) The total currency (actual cash in the form of bills and coins) in the US financial system is a little over $1.36 trillion.

2) When you include digital money sitting in short-term accounts and long-term accounts then you’re talking about roughly $10 trillion in “money” in the financial system.

3) In contrast, the money in the US stock market (equity shares in publicly traded companies) is over $20 trillion in size.

4) The US bond market  (money that has been lent to corporations, municipal Governments, State Governments, and the Federal Government) is almost twice this at $38 trillion.