Posted at 10:31 AM (CST) by & filed under Jim's Mailbox.

Jim Sinclair’s Commentary

Actually a good suggestion from CIGA Dismal Perks.

Jim1 Jim2 Jim3


Jim Sinclair’s Commentary

Get ready to learn the art of barter. Alaskan citizens need not be concerned, most certainly in those the far north, where barter or sluiced gold transactions are the economy. Barter exceeds fiat transactions in trade almost completely there. Ask Heimo North or Bob Harte in the Alaskan Wildlife Preserve or Curly at Port Protection Alaska how to barter fair and effectively, if you cannot find a book.


Here are 2 examples of bartering going on in Venezuela and Brazil as I send this email to you!

Subject: Some Countries that are Bartering Right Now

It’s difficult for most American’s to believe that the dollar can lose all value. The following quote is from the father of the modern fiat currency system, John Maynard Keynes.

“By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.

A sentiment of trust in the legal money of the state is so deeply implanted in the citizens of all countries that they cannot but believe that someday this money must recover a part at least of its former value…. They do not apprehend that the real wealth, which this money might have stood for has been dissipated once and for all.”

Barter activity explodes across Venezuela as failed socialist economic policies leave entire nation on verge of economic collapse Sunday, December 06, 2015 by: Jennifer Lea Reynolds

Learn more:

Homepage | Mon Nov 30, 2015 11:34am EST

In Brazil, farm barter is back – and bigger than ever

Greeks switch to bartering because there’s not enough currency by Jonathan Chew@sochews SEPTEMBER 21, 2015, 10:57 AM EDT

Posted at 9:53 AM (CST) by & filed under Bill Holter.

Dear CIGAs,

Jason Burack of Wall St for Main St interviewed returning guest, precious metals expert and author on JS Mineset, Bill Holter.

Bill has decades of experience working in the financial industry and he now works in collaboration with “Mr. Gold” Jim Sinclair doing weekly podcasts and also writing articles (pay subscription required for most content). Bill’s articles can be found here:…

During this 20+ minute interview, Jason starts off by asking Bill about his article he published the end of April… why he thinks that the global financial system won’t last until October.

Posted at 11:10 AM (CST) by & filed under In The News.

Every drop of blood spilled to save this worthless currency will haunt every father and grandfather for generations to come.


Jim Sinclair’s Commentary

The latest from John Williams.

- Intensifying Economic Downturn Continues
- Nominal Retail Sales Jump Reflected Rising Inflation and a One-Time, Unsustainable Monthly Boost in Auto Sales
- April 2016 PPI Goods Inflation Rose by 0.19%, PPI Services Profit Margins Rose by 0.09%, Leaving Aggregate Final-Demand PPI Inflation Up by 0.18%
- April’s Monthly Construction Inflation of 0.79% Will Take a Toll on Real Construction Spending
- Presidential Politics Affecting Consumer Sentiment?

“No. 806: April Retail Sales and the Producer Price Index “


Bill Holter’s Commentary

Bombs away!

China’s Debt Bomb: No One Really Knows the Payload [Chart]
Jeff Desjardins
May 13, 2016 at 10:51 am




Bill Holter’s Commentary

From the “gold bulls” at Kitco …have not retail stocks been hammered one by one all week long as they reported horrible earnings and even worse guidance? This is “Alice in Wonderland” circa 1984!

Gold Sells Off After Upbeat U.S. Retail Sales Report
Friday May 13, 2016 08:41

(Kitco News) – Gold prices are weaker in early U.S. trading Friday. Moderate overnight gains were erased in the immediate aftermath of an upbeat U.S. retail sales report. The firmer U.S. dollar index today is another negative for the precious metals markets. June Comex gold futures were last down $2.90 an ounce at $1,268.30. July Comex silver was last down $0.163 at $16.94 an ounce.

This week has been a quieter week on the markets-moving news front. The most important U.S. data point of the week was just released, as the April retail sales report came in at up 1.3%, month-on-month. Retail sales were forecast to come in at up 0.8% from February. The stronger-than-expected data falls into the camp of the U.S. monetary policy hawks.

World stock markets were mostly lower overnight. U.S. stock indexes are also pointed toward weaker openings when New York trading begins.

In overnight news, the Euro zone first-quarter gross domestic product was reported up 0.5% from the fourth quarter and up 1.5%, year-on-year. Those numbers was just slightly below market expectations.



Bill Holter’s Commentary

What difference does it make now?

New Emails Reveal Hillary Clinton Used Unsecure Private Line To Talk With Top Aides
Submitted by Tyler Durden on 05/13/2016 07:39 -0400

Hillary Clinton may want to lay low from all forms of communication for a while. On top of everything Hillary has been dealing with as of late, starting with her email server probe (where the FBI is supposedly nearing a conclusion), her painful inability to answer voter questions, and having to double down on her innocence as her top aides meet with the FBI, a new stunning discovery has been made.

According to newly released emails, Hillary talked to her top aides on unsecured phone lines.

From The Hill

New emails released by a conservative watchdog group on Thursday appear to show former Secretary of State Hillary Clinton directing a top aide to call her via an unsecured phone line when technical troubles prevented a secure phone conversation.

“I give up. Call me on my home #,” Clinton told then-chief of staff Cheryl Mills in a February 2009 email, after more than an hour of trouble trying to communicate via a secure line.

“I just spoke to ops and called you reg line – we have to wait until we see each other b/c [the] technology is not working,” Mills said in another email sent at almost exactly the same time.

“Pls try again,” responded Clinton, a few moments later.


Posted at 10:47 PM (CST) by & filed under General Editorial.

Dear Comrades in Golden Arms,

I was there and considered by some to have been the largest gold trader from 1968 to March 1980. I recall every day of it like it was yesterday.


  1. I do not believe that gold has registered its all-time high by a long shot.
  2. I do not accept the recent decline from above $1900 as a gold bear market.
  3. I believe all accepted tools for market timing will fail in the long term super bull market.
  4. I believe the recent long decline to be but a reaction in the giant bull gold market.

Click here to read the full article…

Posted at 10:13 PM (CST) by & filed under Jim's Mailbox.


There’s more to this than meets the eye.

It’s not just international trade for corporate profitability.


-commodity pricing
-gold pricing
-equity markets
-interest rates
-unwinding of cross currency carry trades

The Central Banks are boxed into a corner.

Triffin’s Paradox: learn it!

Let the currency races (to the bottom) begin!

CIGA Wolfgang Rech

The Coming War Of Central Banks
Submitted by Tyler Durden on 05/11/2016 09:40 -0400

Submitted by Charles Hugh-Smith of OfTwoMinds blog,

Welcome to a currency war in which victory depends on your perspective.

History has shifted, and we’re leaving the era of central bank convergence and entering the era of central bank divergence, i.e. open conflict. In the good old days circa 2009-2014, central banks acted in concert to flood the global banking system with easy low-cost credit and push the U.S. dollar down, effectively boosting China (whose currency the RMB/yuan is pegged to the USD), commodities, emerging markets and global risk appetite.

That convergence trade blew up in mid-2014, and the global central banks have been unable to reverse history. In a mere seven months, the U.S. dollar soared from 80 to 100 on the USD Index (DXY), a gain of 25%–an enormous move in foreign exchange markets in which gains and losses are typically registered in 100ths of a percent.

This reversal blew up all the positive trades engineered by central banks: suddenly the yuan soared along with the dollar, crushing China’s competitiveness and capital flows; commodities tanked destroying the exports, currencies and economies of commodity-dependent nations; carry trades in which financiers borrowed cheap USD to invest in high-yielding emerging markets blew up as currency losses negated the higher returns, and global risk appetite vanished like mist in the Sahara.

The net result of this reversal is global markets have struggled since mid-2015, when the headwinds of the stronger dollar finally hit the global economy with full force.

In one last gasp of unified policy convergence, G20 nations agreed to crush the USD again in early March 2016, to save China from the consequences of a stronger yuan and the commodity markets (and lenders who over-extended loans to commodity producers).

That Shanghai Accord lasted all of two months. The engineered collapse has already reversed, and the USD is gaining ground, reversing the gains in risk assets, commodities and China’s export-dependent, debt-based stability.

The problem is there is no win-win solution to this foreign exchange battle. Japan and the Eurozone benefit from a stronger USD as the euro and yen weaken, but China loses as the USD soars.

Commodities lose when the USD gains, but the domestic U.S. consumer’s purchasing power increases as the USD strengthens.

It’s Triffin’s Paradox writ large: As the primary global reserve currency, The USD plays both a domestic and an international role, and each set of users has a different set of priorities.


Posted at 10:54 PM (CST) by & filed under Bill Holter.

Dear CIGAs,

I will be taking a short break through Wednesday.  I always try to respond to as many e-mails as I can, this week I will read all e-mails but will not be able to respond to anything sent prior to Thursday. Time to recharge my batteries a little and don’t want to come back on Thursday and try to respond to over 1,000 e-mails, that would defeat the purpose of taking a break. I should have another article out either Thursday or Friday and plan next weekend’s topic to be mainly about the Fed bailing out the big five derivatives players, something has already happened or they Fed would not be changing the rules. Of course, if something big does break I promise to comment.

Standing watch but a bit weary,

Bill Holter
Holter-Sinclair collaboration