Jim Sinclair’s Commentary
John Williams shares the following with us.
- October Annual Inflation: 1.7% (CPI-U), 1.5% (CPI-W), 9.4% (ShadowStats)
- Inflation Held at 1.7% for Third Month, Despite Tumbling Oil Prices That Reduced CPI-U by 0.5%
- Annual Real Retail Sales Growth Fell Back to Recession Level, Amidst Suggestions of Much-Slower Fourth-Quarter Activity
- Third-Quarter GDP Headline Growth of 3.5% Should Revise to Below 2.5%; Fourth-Quarter GDP Activity Fair Bet for Outright Contraction
- Existing-Home Sales Gained 1.5% for the Month, 2.5% Year-to-Year, But Fell 3.7% in the Trailing 12 Months of Activity
"No. 676: October CPI, Real Retail Sales and Earnings, Existing-Home Sales"
Swiss Gold Initiative Leader Banned From Televised Debate
November 20, 2014
Today King World News was stunned to learn that the Swiss politician who launched the Swiss Gold Initiative was actually banned from participating in the televised debate. Luzi Stamm, who was one of the primary architects of the Swiss Gold Initiative, spoke with KWN about why he was banned from the televised debate and why “It is not possible (to continue) what’s (currently) going on in the Western world.” Below is his remarkable interview.
Eric King: “Luzi, it’s very interesting because so much energy is being spent by Western central planners, by the Swiss National Bank and Swiss politicians — the whole (mainstream) world seems to be lined up together against you. They are extremely concerned about this Swiss Gold Initiative, aren’t they?”
Stamm: “Yes, that’s true. And Switzerland has this unique political system, so we can vote on it. And my general impression is that the (Swiss) National Bank and the political elite think totally different than the broad population. So let’s hope the best for this vote.”
Eric King: “A new poll has come out that signaled there was a shift in voter sentiment, but you have to wonder how real this (poll) is and how much of it is (orchestrated for the purposes of) propaganda?”
Stamm: “The political propaganda in Switzerland is an increasing problem
“And of course we hope that a large percentage of the broad population is going to vote. The higher the percentage is (of voter turnout), the more certain we move towards a ‘Yes’ outcome.”
Obama, Daring Congress, Acts to Overhaul Immigration
By MICHAEL D. SHEARNOV. 20, 2014
WASHINGTON — President Obama chose confrontation over conciliation on Thursday as he asserted the powers of the Oval Office to reshape the nation’s immigration system and all but dared members of next year’s Republican-controlled Congress to reverse his actions on behalf of millions of immigrants.
In a 15-minute address from the East Room of the White House that sought to appeal to a nation’s compassion, Mr. Obama told Americans that deporting millions is “not who we are” and cited Scripture, saying, “We shall not oppress a stranger for we know the heart of a stranger — we were strangers once, too.”
The prime-time speech reflected Mr. Obama’s years of frustration with congressional gridlock and his desire to frame the last years of his presidency with far-reaching executive actions. His directive will shield up to five million people from deportation and allow many to work legally, although it offers no path to citizenship.
“The actions I’m taking are not only lawful, they’re the kinds of actions taken by every single Republican president and every Democratic president for the past half-century,” Mr. Obama said. “To those members of Congress who question my authority to make our immigration system work better, or question the wisdom of me acting where Congress has failed, I have one answer: Pass a bill.”
Jim Sinclair’s Commentary
How much came from the Ukraine?
Dutch Bring 120 Tonnes of Gold Back to Amsterdam From New York
November 21, 2014
The Dutch central bank has secretly brought a large part of the national gold reserves being held in a secure depot in New York back to Amsterdam.
In total, 120 tonnes of gold valued at €4bn has been brought back to the Netherlands by ship, Nos television said.
The high security reparations for the move took months.
The central bank decided to bring some of its gold reserves back to the Netherlands to ensure a better spread, the bank said in a statement.
In addition, the bank hopes to boost consumer confidence by showing there is enough gold in the Netherlands to take the country through a new economic crisis.
Now 31% of the Dutch gold reserves are in Amsterdam, the same percentage as in New York. The rest is in Ottawa and London.
Central banks: The new gold bugs?
Catherine Boyle | @cboylecnbc
Tuesday, 18 Nov 2014 | 7:03 AM ET CNBC.com
Gold’s sudden increase in price took the markets by surprise Tuesday, and it could be policy plans by the world’s central banks that are driving the precious metal ever higher.
Gold hit a two-week high of $1,193.95 on Tuesday, getting close to the key $1,200 per ounce level. This compares to just $1,131.85 on November 7, less than two weeks before.
The rise in the price of gold could be a "quiet signal of people revising expectations of outlook for US policy," Simon Derrick, head of the BNY Mellon markets strategy team, told CNBC.
In recent weeks, analysts and economists have started expecting the U.S. Federal Reserve to raise interest rates sooner. This has strengthened the dollar, and helped drive down gold. However, Tuesday’s relative dollar weakness, coupled with the expected actions of other central banks, has helped send it up again.
Jim Sinclair’s Commentary
Extremely good question. Maybe the Ukraine and GLD?
Was GLD Gold Moved To The Dutch Central Bank?
November 21, 2014
In a move that is much more significant and relevant than the Chinese interest rate cut news, it was revealed that Netherland’s Central Bank repatriated 120 tonnes of gold this year. The move was accounted for as a transfer of gold from the NY Fed to De Nederlandsche Bank (DNB). I say “accounted for” because I believe it is highly likely that the physical transfer took place from the GLD custodial vaults to the DNB. Here’s the article: LINK.
I think this also explains the 33 tonnes of gold that the U.S. military airlifted out of Ukraine: Original Source – Translated Version. (“Jesse” of Jesse’s Cafe Americain reminded about the Ukraine gold)
Recall that the Fed, together with Germany’s Bundesbank, explained that it would take 7 years to move 300 tonnes of gold from NY to Germany because it was complicated and expensive. As we know, that was a glaringly transparent cover story for: “the Fed does not have 300 tonnes to ship back to Germany and it will take 7 years to buy and move that amount of gold without driving up the world price of gold.”
Why do I make this assertion? This is from the link above: “In total, 120 tonnes of gold valued at €4bn has been brought back to the Netherlands by ship, Nos television said.”
So, why was the DNB able to move 120 tonnes in a matter of months but it will take 7 years to move 300 tonnes to Germany?
I think we all know the answer to that question, which is why I make the assertion that the bars shipped to the DNB came from GLD (click to enlarge):