Posted at 11:57 AM (CST) by & filed under Jim's Mailbox.

CIGA Carlos with a shocking find! I had no idea we had inked a 25 year deal?



1) Buying Russian LNG while there are sanctions.

2) Selling US LNG to China as the US Navy plays chicken in the China Sea.

All while Boston was freezing.

By the way Boston’s customer (home owner) natural gas costs did NOT go down after the LNG tanker Gaselys offloaded cheaper Russian natural gas in Everett

It’s not personal. It’s strictly business.

Thought for sure somebody would have picked up on this from last week already.

CIGA Carlos

US Largest LNG Exporter Strikes Major Long-Term Contract With China
February 11, 2018

US liquefied natural gas (LNG) supplier Cheniere Energy will supply energy giant China National Petroleum with about 1.2 million tonnes of LNG annually beginning this year and continuing through 2043, the American company announced Friday.

The US first-ever long-term LNG supply and purchase agreements were built on a memorandum of understanding Cheniere signed with China’s state-owned energy company in November 2017.

Analyst Explains Why US Giving Green Light to Second Batch of Russian LNG

US President Donald Trump’s November 2017 visit to China was fruitful in terms of business interests, although critics said many of the deals reached were merely memorandums of understanding or other non-binding accords. In the biggest development among the deals, China National Petroleum Corporation and Cheniere Energy reached an agreement set to significantly boost US exports of liquefied natural gas.


Posted at 11:53 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

“Conspiracy theory”? We should hope it is because if not, one must ask what it really means to the lives we believe we are leading…

Behold! 1991 Book Warned Us ‘Secret Government’ Would Use School Shootings To Disarm Americans! Was Florida School Shooter ‘MK-Ultra-Cated’?
February 17, 2018

All the way back in 1991, former US Navy Intelligence Briefing Team member Milton William Cooper wrote a book titled “Behold A Pale Horse” within which he reveals a wealth of great information long hidden from the public eye, some dating all the way back to the 1940’s. Elaborating upon the assassination of John F. Kennedy, UFO’s and ‘the secret government’, on page 225 of his book, Cooper dropped the following bombshell paragraph that should be looked at much more deeply in light of what recently happened in Florida.:

The government encouraged the manufacture and importation of military firearms for the criminals to use. This is intended to foster a feeling of insecurity, which would lead the American people to voluntarily disarm themselves by passing laws against firearms. Using drugs and hypnosis on mental patients in a process called Orion, the CIA inculcated the desire in these people to open fire on schoolyards and thus inflame the antigun lobby. This plan is well under way, and so far is working perfectly. The middle class is begging the government to do away with the 2nd amendment.

With the ‘secret government’ that Cooper warned of long ago now confirmed, it’s time to take another look at that shocking paragraph, particularly in light of new revelations coming out about the ‘event’ in Florida which ANP and other independent news websites have warned was likely coming as the globalists seek to continue their ‘take down of America’.


Posted at 3:13 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

Ted Butler on silver manipulation. If he is as correct about JP Morgan’s physical long as he is about their paper short, silver will move from last to first in terms of performance versus currencies. We believe it is a very good probability!

No Manipulation, After All?
February 15, 2018

In the never-ending search to either verify or rebut one’s own findings, I’d like you to consider something different today. I’m going to ask you to set aside my highly specific allegations of wrong-doing in the silver and gold markets, mostly centering on JPMorgan, and focus instead on whether if what I allege is really wrong or even matters much. Even though my allegations are based upon data published by the CFTC and CME Group, I would ask you to put that aside and consider that I may have been making a mountain out of a molehill about silver (and gold) price manipulation.

The best way of determining whether there is anything wrong in silver is to do a controlled experiment, namely, by removing it from the equation (along with any mention of JPMorgan) and substitute any other world commodity or entity in its place. In other words, would it be patently and outrageously illegal or no big deal at all if what is transpiring in silver occurred in any other commodity? I’ll present the facts and leave you to be the judge.

Pick any and every commodity with an active futures derivatives market that comes to mind and plugin the facts that are known to have existed in COMEX silver over the past ten years. Any and every commodity – corn, copper, crude oil, no exceptions. Now let’s plug in what we know in terms of facts that exist in silver.


Bill Holter’s Commentary

Interesting read!

The End Of The Low-Volatility Regime.

February 16, 2017

As John Authers wrote for The Financial Times last Friday: “The violence of the move on the basis of still skimpy evidence…does suggest something strange is afoot. That raises questions about the machinery. Are market structures still in good working order after years in which volatility was suppressed?” The Dow fell 700 points in 20 minutes. It took only nine trading days for the S&P to lose 10% of its value — it has never fallen so far so fast from a record high. And automatic selling triggered by the turmoil added up to more than $200 billion, according to the FT.

In these pages, we have time and again warned about how the lowest interest rates in 5,000 years had generated a toxic co-dependence between algorithmic strategies and low volatility (WILTW August 3, 2017). Last week, that threat manifested — the VIX spike triggered an algorithmic sell cascade. But as Chris Cole, Artemis Capital’s CIO and a thought leader on the volatility threat, told The New York Times: “This is just an appetizer.”


Bill Holter’s Commentary

This is the letter David spoke of on our weekly call.

Taliban Try’s to Talk Peace to U.S. Audience in New Letter
February 15, 2018

“Information Clearing House” – The Taliban sent a detailed letter Wednesday addressed to U.S. officials making demands and urging them to stop fighting and settle the war peacefully. The letter was sent also sent electronically to media outlets in various languages.


Bill Holter’s Commentary

This is a well-done interview.

What Is The Turbulence In The Bull Market & What Is To Be Done About Physical Gold?
February 16, 2018

Bill Holter’s Commentary

Facebook is being called “fake news” by Brazil’s largest newspaper?

Brazil’s Largest Newspaper Abandons Facebook; Says News Feed is “Banning Professional Journalism”
February 15, 2018

São Paulo, Brazil— The largest newspaper in Brazil, Folha de S Paulo, announced late last week that due to Facebook’s recent changes to their news feed algorithm resulting in what the paper claims is “effectively banning professional journalism,” it would cease publishing content on the social media platform.

The Guardian reported that the popular Brazilian newspaper has an online and print subscription base of nearly 285,000 subscribers and had roughly 204 million page impressions last December, according to the Communication Verification Institute, a non-profit media auditor. The company’s Facebook page has nearly 6 million Facebook followers.


Posted at 3:11 PM (CST) by & filed under Jim's Mailbox.

Thanks so much Betsy, how do you top this story?


Hi gents!

This is a great story. Endal was featured, I believe, on the TV show NatGeo. His future owner, a military veteran, was so seriously injured in the Gulf War, that upon returning home he had no memory, no facial expression and could not recognize his wife or family members. Endal, as a young service dog in training was in danger of getting kicked out of the program for being too forward and “ pushy “.

The two get paired up in training in a grocery shopping simulation exercise. Endal puts a can of food in the vet’s lap and looks for approval. No expression. Endal empties the shelves, burying the man under cans of food until…he gets a smile! The two get paired up, the vet recovers … remarries his wife (Endal is best man ), reconnects with his kids. Endal even saves his life later when he was struck by a car!!

The vet said “he saved my life twice, my family and my marriage. When he passed, he gave me the ability to feel the emotion sadness!!“

CIGA Betsy

Endal The Wonderdog’s Road To Immortality Receives Street Tribute
November 15, 2012

Wonderdog Endal, who was credited with saving the life of a veteran who returned from the first Gulf War with a serious head injury, is to be forever remembered in Hampshire.

A road on a housing development in Clanfield, built on fields where he was taken for walks, has been named “Endal Way” in his memory.

Endal’s former owner, Allen Parton, 52, hopes those who live on the estate will be blessed with what Endal stood for – “hope, companionship, loyalty, support and independence”.

The yellow Labrador became Mr Parton’s assistance dog when he returned from war with little memory and limited speech. He was his trusted companion up to his death three years ago.

“My life was a jigsaw puzzle blown up in the Gulf War, Endal brought those pieces back to me,” said Mr Parton, who has used a wheelchair since his injury.


Posted at 10:24 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

Knowing what we do about how and what the institutions are teaching…and the quality snowflakes they are graduating I have to ask, WHAT COULD POSSIBLY GO WRONG?

Jumbo Loans Are New Threat in U.S. Student Debt Market
February 16, 2018

During the housing boom of the 2000s, jumbo mortgages with very large balances became a flashpoint for a brewing crisis. Now, researchers are zeroing in on a related crack but in the student debt market: very large student loans with balances exceeding $50,000.

A study released Friday by the Brookings Institution finds that most borrowers who left school owing at least $50,000 in student loans in 2010 had failed to pay down any of their debt four years later. Instead, their balances had on average risen by 5% as interest accrued…


Posted at 10:23 AM (CST) by & filed under Jim's Mailbox.

When all is said and done, it is all about debt and the fact it all cannot perform as promised…


Selloff Spreads to Company Debt
February 16, 2018



Michael, this was inevitable…!



I guess this explains the teflon coated markets against rising interest rates…


Is The Fed Back To “Quantitative Easing?”
February 15, 2018

The Fed added $11 billion to its SOMA account for the week ending yesterday. It purchased $11 billion in mortgage securities directly from banks. This injects $11 billion into the banking system. Cash is “high powered” money, meaning it can be leveraged 10x (banks need to hold 10% in reserves against “high powered” money. $11 billion is $110 billion of leverage for the banks to use for activities such as propping up the stock market.


This certainly explains why there appears to be another “V” recovery in the stock market after a near-10% drawdown in the Dow and the SPX. This is very similar to the 10% market plunges in August 2015 and January 2016, both of which were followed with highly unusual “V” recoveries.



Maybe people do not remember what happens to trade when tariff barriers like this are raised? Guess they will find out!




Inflation……Fait accompli.

We raise prices on foreign goods, our companies get to raise prices also.

In reciprocal actions taken by foreigners, they will impose tariffs on our goods, raising prices there which affect our sales and we go into trade deficit and must fund it.

Either way you look at it, inflation is being stoked and commerce is being smothered.

CIGA Wolfgang Rech

Global Trade Wars Begin: Ross Recommends Major Tariffs On Steel, Aluminum Focusing On China, Russia
February 16, 2018

Update 3:

As previewed earlier, at noon on Friday the commerce department released reports on the U.S. Department of Commerce’s investigations into the impact on our national security from imports of steel mill products and from imports of wrought and unwrought aluminum. These investigations were carried out under Section 232 of the Trade Expansion Act of 1962, as amended. All classified and business confidential information in the reports was redacted before the release.

Specifically, the department, found that the quantities and circumstances of steel and aluminum imports “threaten to impair the national security,” as defined by Section 232.

“I am glad that we were able to provide this analysis and these recommendations to the President,” said Secretary Ross. “I look forward to his decision on any potential course of action.”

Others were less sanguine. A former senior government trade official quoted by Axios, said that without major exemptions, these recommendations would represent: “[T]he opening shot in a trade war… a declaration of war against the world on aluminum and steel… These are some of our closest treaty allies… These are some serious numbers.”

And another quote from a trade expert: “This would be beyond a trade war. You’re talking about blowing up the WTO.”

As the Commerce Dept’s press release adds:

the reports are currently under consideration by the President, and no final decisions have been made with regard to their contents. The President may take a range of actions, or no action, based on the analysis and recommendations provided in the reports. Action could include making modifications to the courses of action proposed, such as adjusting percentages.

The President is required to make a decision on the steel recommendations by April 11, 2018, and on the aluminum recommendations by April 19, 2018.


Posted at 11:52 AM (CST) by & filed under Jim's Mailbox.

Courtesy of JB


Dog Foods Pulled From Shelves Nationwide After ABC7 Investigation Finds Euthanasia Drug
February 14th 2018

WASHINGTON (ABC7) — Retailers pulled at least 31 varieties of dog food off the shelves nationwide after a months-long investigation found the euthanasia drug, pentobarbital.

After releasing the results of lab tests that identified the drug, the FDA launched an investigation. And now, just days later, Smucker’s, the owner of almost all the brands in question, announcing a voluntary withdrawal. It includes products in the Gravy Train, Kibbles ‘N Bits, Skippy and Ol’ Roy lines of canned food.

Retailers, including the nation’s largest, Walmart, removed it from all 4,700 stores.

For seven months, we investigated what’s in dog food. Analytical labs conducted hundreds of tests across dozens of brands.

“Consumers, they’re tired of their pets dying. They’re tired of being worried and this needs to change,” said Susan Thixton, who’s been researching and writing about the pet food industry for years.

Thixton says based on current labeling standards, it’s impossible for consumers to know what they’re really feeding their pets.

“They have no information,” said Thixton. “A consumer has to become a private detective to learn what’s really in their food.”



In regards to today’s post:

Russia inks huge energy deals with Saudi Arabia, challenging US dominance in Gulf region

Will the Dollar be excommunicato?

The icing on the cake would be to route all payments through China and eliminate the USD.

With Chinese involvement here, it may well come to pass.

“These statements are a significant boost for MBS and his IPO advisors, as the participation of a Russia-China investment fund also shows the interest of Chinese parties in the stakes. While Chinese parties are expected to be willing to hand over tens of billions, Dmitriev’s statements have widened the scope. Russian and Chinese parties will not only involve the expected oil and gas companies, but others as well.”

CIGA Wolfgang Rech

Wolfgang, the same could be said for any phone made anywhere in the world?



“We’re deeply concerned about the risks of allowing any company or entity that is beholden to foreign governments …”

The same could be said for Boeing.

This is nothing more than an alternative method of conducting a trade war. (or perhaps protecting Apple investors, as their sales are sliding)

Note the wording used. It’s all supposition, no substance.


are positioned

expressing their concerns

deeply concerned about the risks

provides the capacity to conduct undetected espionage.”

CIGA Wolfgang Rech

FBI Warns Americans Against Buying Huawei, ZTE Phones
Feb 14, 2018

Several U.S. intelligence agencies believe that Chinese phone makers Huawei and ZTE are positioned too close to their government and could commit acts of espionage through their devices.

FBI Director Chris Wray joined officials from the CIA, NSA and Defense Intelligence Agency in expressing their concerns to the Senate Intelligence Committee.

“We’re deeply concerned about the risks of allowing any company or entity that is beholden to foreign governments that don’t share our values to gain positions of power inside our telecommunications networks,” Wray said.

“It provides the capacity to maliciously modify or steal information,” Wray said. “And it provides the capacity to conduct undetected espionage.”



I’m sure, by now, everyone has heard the McDonalds downsizing news.

No more cheese on cheeseburgers and less french fries in a serving. All in the name of good health. Doing the youngin’s a favor by giving them less so they retain their health.

But they WILL retain the $1 price tag.

Perhaps McDonalds should give you nothing. Just go by the Drive In window, hand them a dollar, and go on your way. That’d be called the “Healthy Request Meal”.

Why do I get the feeling that the BLS (Bureau of Labor Statistics) will jump all over this? Price stability….but less product.

No inflation!

No kidding. Imagine how many poor and lower class people dine on the dollar menu just to get by! The BLS will surely have this in their stats.

Just waiting for they day when they sell me a car with 3 wheels, but retain the price.

Only in America.

CIGA Wolfgang Rech

RIP Happy Meal Cheeseburger: Why McDonalds Is Getting Rid of a Kids’ Menu Mainstay
February 15, 2018

Your McDonald’s Happy Meal is about to look a little different.

The fast food giant announced a series of changes to its Happy Meal menu Thursday, as part of a broader plan to provide healthier options for children. Cheeseburgers will no longer be a menu option, and french fry servings will be downsized. Bottled water will be added as a beverage option, while the chocolate milk will be reformulated to reduce added sugars.

The move comes as the first step in a commitment to limiting calories, sodium, saturated fat, and added sugar in its Happy Meals. By the end of 2022, McDonald’s wants at least half of its Happy Meal options to meet the new nutrition criteria: 600 calories or less; no more than 10% of calories from saturated fat; less than 650 mg of sodium; and no more than 10% of calories from added sugar.

Today, 28% of its Happy Meal combinations meet this criteria in 20 major markets across the world. McDonald’s U.S. will hit the calorie, sugar, and fat goals, and be 78% compliant on sodium by June of this year, reports Reuters.

Cheeseburger enthusiasts need not fear, however: the Happy Meal cheeseburger will in fact still be available, but by request only. The chain hopes that removing unhealthy items from the menu will nudge diners to change their consumption habits.


Please note the drop down bar at the top right of the chart…the chart showing the crash in interbank loans we alerted you to last week has suddenly been discontinued! As CIGA Chris mentions, “too much information!” I would call it too much truth, and we cannot have that now can we? On the bright side, I guess the Fed must be reading the work of us crazy alt media types? Just because they discontinued the chart doesn’t make the problem go away…


Hi, Bill.

A MineSet premium here.

Hmmm. “Discontinued”.

When was that??? I (you) looked last week.

(Too much information)?

CIGA Chris


Posted at 11:25 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

Of HUGE significance!!!

Russia Inks Huge Energy Deals With Saudi Arabia, Challenging US Dominance In Gulf Region
February 15, 2018

Hidden by the fog of the ongoing oil market volatility and the Turkish adventures in Syria, OPEC leader Saudi Arabia has been cementing its geopolitical position for years.

In Riyadh meetings this week between Saudi and Russian officials, major energy deals were sealed, changing the regional constellation dramatically. At the same time, the geopolitical shift of the century now starts to bear fruit.

Russia has directly offered to invest in the upcoming Aramco IPO, supporting the efforts of Saudi Crown Prince Mohammed bin Salman (MBS) to diversify the economy of the kingdom. During the meetings, not only new Saudi investment deals in Russia were sealed, but also the commitment of several Russian investment parties in the Aramco IPO.

After weeks of receiving a hell of a beating in the press (analysts started to doubt that it would ever happen), not only positive news has come from the NYSE and LSE, but also — as expected — from Russian institutions.

Kirill Dmitriev, CEO of the main Russian sovereign wealth fund, Russian Direct Investment Fund (RDIF), stated in Riyadh that he expects that a Russian and Chinese joint investment fund, working in conjunction with several major Russian banks, will be part of the Aramco IPO. He also indicated that other Russian financial institutions and investors are very interested to take a part of the 5 percent of Aramco being offered in the IPO.


JP Morgan Beats Investor Suit Over Mutual Fund Fees
February 14, 2018

Law360 (February 14, 2018, 10:16 PM EST) — A New York federal judge granted J.P. Morgan an early exit Wednesday from a proposed shareholder action over allegedly excessive fees charged to investors in one of its mutual funds, dismissing the case after finding the investor failed to show the fund’s rates were disproportionately high.

J.P. Morgan Investment Management Inc. moved to toss the suit in June, arguing shareholder Joan Pirundini used unfair comparisons to allege the .72 percent annual fee charged by the bank’s U.S. Large Cap Core Plus Fund was “eye-popping.”


VA Sec. Against Prosecuting Army Vet for “Posting” U.S. Flag, Misled by Staff
February 14, 2018

The Secretary of Veterans Affairs was misled by his inner circle about a case involving an elderly Army veteran criminally prosecuted for displaying the American Flag at a southern California VA facility, documents obtained by Judicial Watch show. After seeing a news report about the preposterous case, VA Secretary David J. Shulkin asked his chief of staff, Vivieca Wright, to check if the story was correct, the documents show. In an electronic mail to his chief of staff, Shulkin writes that if the story is accurate “we should not be pressing charges and we should do a release saying so.” Shulkin adds: “I understand that media reports do not always tell the real story.”

Incredibly, the story is real. Rosebrock was federally charged for supposedly hanging a four-by-six-inch American Flag on the outside fence of a VA facility in West Los Angeles on Memorial Day in 2016. The fence is part of the “Great Lawn Gate” and marks the entrance to the Los Angeles National Veterans Park. The public facility is part of a larger, 388-acre parcel that includes the Veterans Home of West Los Angeles. Since 2008, Rosebrock and a group of fellow veterans have assembled at the gate weekly and on Memorial Day to protest the VA’s failure to make full use of the property to benefit veterans, particularly those who are homeless. Judicial Watch helped represent Rosebrock, who faced up to six months in jail for the ghastly offense of reportedly affixing Old Glory at a site honoring those who served their country. He was also charged with taking unauthorized photographs of both the Flag and VA police, but a judge ruled in mid-April that the charges violated the First Amendment. The Trump Department of Justice (DOJ) has appealed the dismissal of the two charges, however.


Stimulus Puts US Debt On An Upward Trajectory
February 9, 2018

Washington (AFP) – As part of a pledge to “Make America Great Again,” President Donald Trump and Republican lawmakers are pursuing aggressive economic stimulus while slashing taxes at the same time.

The result, budget analysts say, is likely to be swelling debts and deficits for the world’s largest borrower.

America’s budget deficit was already on an upward trajectory, thanks to an aging population and rising health costs. But it is now poised to take off.

After December’s sweeping tax cuts, which are expected to cut federal revenues by $1.5 trillion over ten years, the budget deal Trump signed Friday calls for an additional $300 billion in defense spending over two years.

The White House and lawmakers have also huddled over a $1.5 trillion plan to upgrade the nation’s infrastructure, with perhaps several hundred billion in taxpayer funds contributed in a possible public-private partnership.

Former President Barack Obama’s administration acted to reduce the deficit after the emergency spending in the wake of the 2008-2010 Great Recession, bringing it down from 9.8 percent of GDP in 2009 to 2.4 percent by 2015.