Posted at 2:52 AM (CST) by & filed under In The News.

Time For Torches & Pitchforks——-The Little Guy Is About To Get Monkey-Hammered Again
by David Stockman • December 29, 2015

The reputations of Ben and Janet are going to be eviscerated in 2016. That’s because the US economy will slide into recession in defiance of every claim they have made for their snake oil monetary policies. The plain fact is, massive falsification of financial markets via their “wealth effects” doctrine did not levitate main street prosperity at all; it just fueled another giant speculative mania in the Wall Street casino.

The prospect that the leaders of our monetary politburo are about to be tarred and feathered by economic reality might be satisfying enough if it led to the repudiation of Keynesian central planning and a thorough housecleaning at the Fed. Unfortunately, it will also mean that tens of millions of retail investors and 401k holders will be taken to the slaughterhouse for the third time this century.

And this time the Fed is out of dry powder, meaning retail investors will never recover as they did after 2002 and 2009. Moreover, the overwhelming share of main street losses will be the among baby-boom demographic——sixty and seventy something’s who will be down for the count.

As Jim Quinn so graphically put it an the adjacent piece,

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Posted at 10:20 AM (CST) by & filed under General Editorial.

Dearest James,

Out of curiousity, I have found your Preparedness article all over the internet in many odd places and around the world. Tonight, I found an excerpt (not attributed to you) in a Russian News Feed…

http://www.therussophile.org/daily-digest-1228-the-year-nothing-worked-chinas-1t-nuclear-plan.html/

See the Fourth paragraph down for this…

Be Prepared! (reflector)

The main thing about preparedness is that regardless of the emergency, for the most part, preparedness is the basically the same. The second thing about preparedness is that, it is better to prepared and not need it, than to need it an not be prepared. The third thing about preparedness is that it will do no harm. Being prepared for any emergency is like insurance. You hope that you never need it, yet you acquire insurance because you prefer the protection and peace of mind it offers. In this, you prepare for the worst, but hope for the best. You get the insurance, but hope you never need it. If you do need it – it can be priceless.

I just can’t believe your article has such a broad scope.

I certainly hope this article helps others.  You are so wonderful to want to help people from what is coming.

CIGA A to Z.

Dear CIGA A to Z,

Many people read but few do anything whatsoever.

Writing about the corruption in financial markets, in general business, in politics and everywhere in the Western world cures nothing and protects few.

There are consequences that cannot be avoided such as was pointed out from weather disasters like this weekend in California to logistical blockages common to currency disruptions in every such incident in world history.

Thank you and best regards,
Jim

Posted at 6:14 PM (CST) by & filed under Jim's Mailbox.

Jim,

Dr. Roberts brings up the fact that 50% of all 25 year olds are still living at home with their parents. If I were a bankster or elite I would be very concerned about the 50% figure.

CIGA Larry C

US Stupid Enough to Cause Nuclear War-Paul Craig Roberts
By Greg Hunter On December 27, 2015

Former Assistant Treasury Secretary Dr. Paul Craig Roberts has a dim view of the so-called “economic recovery.” Dr. Roberts contends, “There has been no recovery whatsoever. . . . If you look at the economy realistically, and that means you don’t use their phony numbers, there has been no recovery whatsoever and, in fact, it continues to worsen. We see that the “Labor Force Participation Rate” continues to sink. . . . When you consider the full measure of unemployment . . . we still have an unemployment rate of 23% after 7 years of an alleged recovery? I think this is the first so-called recovery where the labor force fell. Normally, when you have a recovery, people re-enter the labor force and the participation rate rises. . . . How do you have 5% unemployment when half of all 25 year old people have to live at home with their parents? What kind of a “recovery” is that? They say there is no inflation, but everyone that goes shopping knows that is a lie. . . . It’s all just a package of smoke, mirrors and lies.”

Don’t expect this to turn around anytime soon. Dr. Roberts says, “There is no opportunity for the middle-class. It must be shrinking. I would say the U.S. economy is in long-term decline. Rigging the way you measure inflation, rigging the way you measure unemployment, that may fool ordinary people, but that does not fool those of us who look at the numbers.”

On war, Dr. Roberts’ view is dire and goes on to explain, “Everything that previous presidents have done to try to defuse the kind of tensions between nuclear powers that could lead to war, all this has been thrown away by Clinton, George W. Bush and the current White House fool. It’s all due to the Neoconservatives. So, yes, we are in a more dangerous situation than in the worst part of the cold war. Thanks to the Neoconservatives and thanks to the American ‘presstitute’ media with people who lie for a living, we are in more danger than we have ever been. A war could result, and if it doesn’t, then it’s just because Putin has got too much sense. I don’t think Putin is going to absorb these provocations forever, and I don’t think he’s going to put up with any more nonsense in Ukraine. That was a part of Russia longer than the United States has existed. . . .Can you imagine anything more insane and reckless than you go into a part of Russia, that has only been independent for a few years, and overthrow a democratically elected government that is getting along with Russia and stick in an American puppet with all these crazed right-wing Nazi people and cause all this trouble with Russia and tell endless lies about it? What is more reckless and irresponsible? That is the way the United States government is behaving. If you can do things that stupid, you can cause a nuclear war.”

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Posted at 6:50 PM (CST) by & filed under Jim's Mailbox.

Hi Guys,

I’m not sure if you noticed the blog post on GATA the other day… but a couple of Canadians and three Canadian law firms are launching a class action against the Gold fix participants:

http://www.gata.org/node/16046

I’ve emailed the principal of the lead law firm a few links that detail the rampant abuse of Paper Gold in the price discovery process. If you have any info you think might help, please send it to Kirk Baert – http://kmlaw.ca/lawyers/kirk-m-baert/

I’ve also suggested to Kirk that the Class Action be expanded to include the COMEX and it’s various related entities.

CIGA Dean Dean

Posted at 3:59 PM (CST) by & filed under Bill Holter.

Dear CIGAs,

Merry Christmas, Happy Hanukah, happy holidays whatever your faith or no faith may be!  We have become a “politically correct” society where people get offended for the most ridiculous, or should I say “we are told” to be careful what we say or do because we might offend someone. A reader sent me the below regarding “political correctness.”

What is meant by the modern term referred to as ‘POLITICAL CORRECTNESS’…

Someone found the definition of “political correctness” in 4 telegrams at the Truman Library and Museum in Independence Missouri.

The following are copies of four telegrams between President Harry Truman and Gen Douglas MacArthur on the day before the actual signing of the WWII Surrender Agreement in September 1945..  The contents of those four telegrams below are exactly as received at the end of the war – not a word has been added or deleted!

(1) Tokyo,Japan
0800-September 1,1945
To: President Harry S Truman
From: General D A MacArthur
Tomorrow we meet with those yellow-bellied bastards and sign the Surrender Documents, any last minute instructions?

(2) Washington, D C
1300-September 1, 1945
To: D A MacArthur
From: H S Truman
Congratulations, job well done, but you must tone down your obvious dislike of the Japanese when discussing the terms of the surrender with the press, because some of your remarks are fundamentally not politically correct!

(3) Tokyo, Japan
1630-September 1, 1945
To: H S Truman
From: D A MacArthur and C H Nimitz
Wilco Sir, but both Chester and I are somewhat confused, exactly what does the term politically correct mean?

(4) Washington, D C
2120-September 1, 1945
To: D A MacArthur/C H Nimitz
From: H S Truman
Political Correctness is a doctrine, recently fostered by a delusional, illogical minority and promoted by a sick mainstream media, which holds forth the proposition that it is entirely possible to pick up a piece of shit by the clean end!

Now, with special thanks to the Truman Museum and Harry himself, you and I finally have a full understanding of what ‘POLITICAL CORRECTNESS’ really means…..

I’d like to point something out obvious to me but apparently lost on some of those who want to impose “political correctness” on others.  We are told we should not offend anyone with different religious beliefs than our own …so wishing a Merry Christmas, Happy Hanukah or whatever is “offensive”.  Really?  I think it is offensive being told this is offensive!  Just how do you believe this nation was formed in the first place?  We are a nation of religious refugees who came to America to practice their religion freely.

We are now told we should take 1,000′s of “religious” refugees from the Middle East (mostly men under 45 years old who forgot to flee with their women and children), 99+% are Muslim.  Today it is politically incorrect to oppose people whose religion believes everyone should convert to their religion and condones (suggests) death to anyone who doesn’t convert.  Being “politically incorrect” as I am, I’m not so sure it’s a great idea to allow this transparent Trojan horse in.  I know, having this view sort of makes me a terrorist doesn’t it?

While on the subject of terrorists, how is it American soldiers are considered terrorists when they return home?  It’s not as if these patriotic men and women were drafted and protected our country against their own will …no, these men and women WILLINGLY joined the armed forces!  Why are they considered threats that should be precluded from purchasing firearms after they return home?  What happened?  Did they see or learn something while in the service that make them terroristic?  I say “God bless them” even if it is politically incorrect!

Here in Texas (God bless Texas!) we have a restaurant chain who took “political incorrectness” to the limit!  Berryhill Baja Grill whose CEO is Jewish posted a sign:

unnamed (22)

http://abcnews.go.com/Business/texas-restaurant-chain-touts-politically-incorrect-holiday-policy/story?id=35910460

WOW!  Can you imagine that?!!!  They salute the flag, say Merry Christmas, God bless America …AND they give thanks to our troops, firefighters and police?  This is definitely a terrorist organization!  The best part is this, they say “If this offends you, you are welcome to LEAVE”!  Followed by the blasphemy of all blasphemies “In God we Trust”!  I can’t believe it …a corporation telling you to go away if you are offended by their good wishes and belief in God!  Of course, some of you are snickering thinking  “there goes their sales and bottom line”.  I would not be so sure, the “politically correct ” movement has gone so far (too far?) as to create a backlash where the “offense” is being taken by the believers and the patriots.  I think this “backlash” will continue to grow!

To finish, I wrote earlier this year I thought people should prepare “physically, mentally and spiritually”.  I received many encouraging e-mails for publicly saying I am a Christian.  I received a few e-mails laughing at me for believing in an “eye in sky” or some such.  Let me say this, whether you are Christian, Jewish, Hindu, Muslim, agnostic or atheist …would it not be a pretty cool world if everyone walked the Earth and treated others like Jesus did as written in the Bible?  I believe in Jesus and believe the Bible to be a historical account.  If I am wrong, is not the life and deeds of the “character” named Jesus a pretty righteous way to live?

I wrote this piece because we have been divided so deeply as a society and have strayed so far from our roots.  We live in very dangerous times, financially, economically and geopolitically.  Americans were a close knot breed in the 1930′s during the hard times, I am afraid we will buckle as a society when our true and real circumstances are finally revealed.  Do not postpone until that moment your preparations physically, mentally and with your God whoever that may be!

Standing watch,

unnamed (23)

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

Posted at 2:05 PM (CST) by & filed under General Editorial.

Jim Sinclair’s Commentary

Mr. Williams shares the following with us.

- Existing-Homes Sales Collapse Consistent with Deepening Recession, Even Allowing for Special Factors
- Rapidly Mounting Odds for Fourth-Quarter GDP Contraction
- GDP Revisions Were No More than Statistical Noise; Third-Quarter Gain of 1.98% Was Not Statistically Significant; Annual Growth at Six-Quarter Low
- With Rate-Hike Speculation Temporarily Sated, Deteriorating Economy Should Hit U.S. Dollar Hard, Boosting Gold, Silver and Oil Prices, and Domestic Inflation

“No. 775: GDP Revision, November Existing-Home Sales ”
Web-page: http://www.shadowstats.com

 

- Net of Inflation and Commercial Aircraft Orders, November Durable Orders Were Stronger than the Headline “Unchanged”
- Nonetheless, Smoothed Orders in This Volatile Series Still Were Consistent with an Unfolding Recession
- New-Home Sales Continued in a Smoothed Pattern of Deepening Down-Trend, Low-Level Stagnation 

“No. 776: November Durable Goods Orders, New-Home Sales ”
Web-page: http://www.shadowstats.com

 

Russia, Iran eye monetary agreement to boost trade
December 22, 2015, 1:25 pm

A senior Iranian official said on Tuesday that Iran and Russia will sign a joint monetary agreement to facilitate mutual trade transactions, state media reported.

The agreement is aimed to facilitate exchange of Iran’s rials and Russia’s roubles, and it will also pave the way for boosting Tehran-Moscow economic relations, Iranian Minister of Communications Mahmoud Vaezi was quoted as saying by state news agency IRNA.

Vaezi made the remarks after a meeting with visiting Russian Minister of Industry and Trade Denis Manturov.

Vaezi said two sides discussed the ways to remove obstacles to bilateral cooperation during the meeting, adding that Russia will take steps towards decreasing its customs tariff in line with Iran’s interests.

For his part, the Russian minister stressed the importance of increasing joint investments.

Cordial relations between Tehran and Moscow have prepared good grounds for expansion of economic cooperation, Manturov said.

Following the downing of a Russian warplane by Turkey near Syrian border last month, Iran urged Russia for the ease of customs duty for its agricultural exports.

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Jim Sinclair’s Commentary

Merry Christmas from Mr. Black and Yahoo

December 23, 2015
En route to Abu Dhabi

Do you remember the first website you ever visited?

I do. It was Yahoo!

The year was 1995. Toy Story was the #1 movie in the world. The Oklahoma City bombings claimed the lives of 168 people. War and genocide raged in the ongoing Balkan conflict.

America Online and Prodigy, both early Internet pioneers, offered the public access to the “information superhighway” for the first time.

And a couple of engineers from Stanford University formally incorporated their new ‘search engine’ and brought it online as Yahoo.

It was mesmerizing. The site was a treasure trove of information with vast lists of other websites pertaining to every category under the sun.

And the search feature could help you find exactly what you were looking for. It was amazing.

The first time I used it I remember feeling like I had been transported into the future.

Yahoo quickly became one of the kings of Silicon Valley, drawing in more visitors than any other website in the world.

The following year they went public at a price of $13 per share. Investors loved the company and were convinced it would go to the moon.

And it did. For a time. Yahoo’s stock price peaked at $118 on January 3, 2000, marking almost to the day the top of the dot-com bubble.

Fast forward nearly 16 years and the company is a shell of its former self.

Its stock is down more than 70% from its all-time high, and the price hasn’t gone anywhere for more than two years.

More importantly, Yahoo isn’t making money.

The company has posted several consecutive quarters of negative operating income. Revenue is declining. Its traffic rank has fallen.

They’ve had to lay off thousands of brilliant engineers they can no longer afford to retain.

Plus they’ve made tons of bonehead acquisitions, squandering billions of dollars on investments that have produced nothing for the company.

One would think that a company in such obvious decline would demonstrate a modicum of frugality.

Think again. Yahoo’s annual Christmas party this year was a Roaring 20s / Great Gatsby theme, complete with champagne towers and a vintage Rolls Royce.

The party itself, right down to the theme, was a symbol of waste, indulgence, and excess; it reported costly between $7 and $10 million to stage.

I mean, the only thing more excessive would have been a Caligula remake.

I have to imagine stakeholders are wondering: what are these people thinking?

The good old days are long gone. This is no longer a company that can afford such largess. And everyone seems to realize it… except Yahoo.

Frankly I find this the perfect metaphor for the United States of America.

Despite political candidates saying that “America’s best days are ahead of us,” the United States peaked a long time ago.

US debt is higher than it’s ever been, and the government still loses money every year.

Even in their most wildly optimistic projections, they have no expectation of a budget surplus. Ever.

The Congressional Budget Office estimates that the national debt, both nominally and as a percentage of GDP, will continue to increase.

You’d think they would recognize such an obvious fiscal reality.

But no. They keep spending, oblivious to the fact that they can no longer afford the largess. These guys are partying like it’s 1929.

Like Yahoo, the US used to be king of the hill. But now it’s in clear decline.

Government finances are a total mess. The middle class has been vanquished and no longer comprises the majority of the population anymore.

The monetary and regulatory systems encourage debt and consumption, instead of savings and production.

Political power is derived from fear and intimidation. And the government rules with an ethos that debt, money printing, and more bureaucracy will make the country prosperous and strong.

When it comes time to spend money, there’s no frugality. No agency left behind.

And after they ink the legislation that will spend a record $4 trillion of taxpayer money on war, debt, and unsustainable entitlement programs, they slap each other on the back for a job well done.

If you step back and look at the big picture, it’s obvious that this ‘party like it’s 1929’ mentality is not consequence free.

No one (least of all Yahoo!) would have predicted back in 1998 that they would soon become an irrelevant has-been. Yet it happened nevertheless.

History shows us that nations too rise and fall– gradually, then suddenly.

It’s not like there’s some cataclysm that’s going to cause the ground to open up and swallow America tomorrow morning. This isn’t that kind of emergency.

Plus governments and central bankers have an astonishing ability to kick the can down the road just a little while longer.

But no one can stop the tidal wave of consequences that grows with every terrible decision they make.

Whether people like it or not, whether they choose to acknowledge it or not, this decline is a long, slow grind that’s already in progress.

Maybe it takes 3 years to play out. Maybe it takes 30. No one can say for sure where the bifurcation point is that tips stability into chaos.

But to simply buy into the official propaganda and make a conscious decision to ignore such obvious data is completely foolish.

Rational people have a Plan B.

And it’s hard to imagine you’ll be worse off for taking sensible steps to protect yourself against the consequences of one of the biggest trends in history.

Enjoy the holidays,

Simon Black
Founder, SovereignMan.com

Posted at 4:36 PM (CST) by & filed under General Editorial.

Zimbabwe to expand use of yuan as China cancels $40 mn debt

Zimbabwe said Monday that China plans to cancel $40 million in debts as the southern African country seeks to expand use of the yuan in its multi-currency economy.

“They (China) said they are cancelling our debts that are maturing this year and we are in the process of finalising the debt instruments and calculating the debts,” Minister Patrick Chinamasa said in a statement.

Chinamasa also announced that Zimbabwe will officially make the Chinese yuan legal tender as it seeks to increase trade with Beijing.

Zimbabwe abandoned its own dollar in 2009 after hyperinflation, which had peaked at around 500 billion percent, rendered it unusable.

It then started using a slew of foreign currencies, including the US dollar and the South African rand.

The yuan was later added to the basket of the foreign currencies, but its use had not been approved yet for public transactions in the market dominated by the greenback.

Use of the yuan “will be a function of trade between China and Zimbabwe and acceptability with customers in Zimbabwe,” the minister said.

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Minnesota Muslims Demand Pork-Free Halal Food From Minnesota Welfare Food Bank

by Jason DeWitt

Whoever said “beggars can’t be choosers” never met Somali Muslim refugees inMinnesota.

These Muslim imports in Minneapolis are now demanding a tax-funded “halal” non-pork food shelf at a free food pantry for the poor.

As if it’s not bad enough that nearly all the “American” Muslims who have joined ISIS have been Somalis from Minneapolis, their relatives here are demanding that Americans adhere to the same Sharia Laws the Islamic State fighters are trying to impose throughout the Middle East.

A group of first-generation Somali Americans says they need help in developing a food shelf that specializes in healthy foods that do not contain pork or pork byproducts. “It’s about human rights also, basic human rights to get the proper food and also healthy food,” said Imam Hassan Mohamud.

“Human rights”? Seriously? Their arrogance and self-entitlement has to be unprecedented for a group on the public dole.

Tens of thousands of Somalis settled in Minneapolis/St. Paul after Bill Clinton, George W. Bush and later Barack Obama imported them and funded massive “refugee” centers there. Welfare, schools, hospitals and social services have been crushed by the burden of immigrants who lack the most basic skills to live in a modern society.

This is hardly the first demands Somalis have made on the good people ofMinneapolis. When the influx of Somali thugs naturally resulted in a massive increase in crime a decade ago, Somalis demanded a $48 million Sharia-compliant “youth center” to keep Somali gangs “out of trouble.”

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