Posted at 9:03 AM (CST) by & filed under In The News.

O’Keefe: Did NYT Fire Audience Strategy Editor Nick Dudich?
October 17, 2017

O’Keefe Confronts NYT Dep Managing Editor Clifford Levy About Employment of Unethical Staffers
October 18, 2017

This morning, James O’Keefe confronted Deputy Managing Editor Clifford Levy in the streets of Brooklyn to get comment on the status of Nicholas Dudich’s employment at The Times.

Nicholas Dudich was featured in Parts I and II of the American Pravda NYT investigation. He was caught on camera admitting his bias, and describing how he uses his position at The Times to achieve his personal agendas.


Bill Holter’s Commentary

Another for the truth bomb category that just 18 months ago would have been considered the thoughts of a raving conspiracy lunatic…yet here it is infested both sides of the isle!

Mainstream Media Just Admitted Hollywood Infested With ‘Child Sex Trafficking’
October 18, 2017

Harvey Weinstein’s sacrifice by the elite through revealing his alleged rampant sexual abuse has appeared to have removed the stigma from those who expose child sex trafficking.

Weinstein’s ousting seems to have served as a catalyst for the mainstream media to finally cover the real-life horror movie that is Hollywood sex abuse.

While many brave actresses and actors have come forward with allegations of their abuse by adults, some of those inside the industry are calling out the horrifying reality of rampant child sex trafficking that takes place behind the silver screen.

Although TFTP has faithfully exposed this depraved group of Hollywood elite and politicians who deal in the lives of children for years, even the mainstream media is being forced to cover it now.

One such outlet to jump on the expose Hollywood train is the FOX News Channel whose hot-tempered pundit, Judge Jeanine Pirro went on a massive — albeit entirely partisan — rant about the powers that be and their nature to ignore and also facilitate Hollywood’s sick addiction.

Starting her rant, Pirro laid into Clinton and how she is using this Weinstein scandal to use Trump — who said he could just walk up to women and grab them in the genitalia — as a distraction from her husbands years of sex abuse scandal.


Bill Holter’s Commentary

The lengths Mr. Krugman is going to disparage “gold bugs” has become astonishing…as he links gold bugs to racism. I guess he figures if he alters the argument, people will forget that DEBT itself equals SLAVERY!

Krugman Goes Insane: Links Racism And Goldbugs
October 17, 2017

Following the goofy comments by Marc Faber (SEE: Oh Boy, Forecaster Marc Faber: If the US ” had been settled by black people instead of whites.”; Sprott to Fire Him), the Keynesian Paul Krugman sent out this mad series of tweets:



Posted at 9:02 AM (CST) by & filed under Jim's Mailbox.

Wolfgang has a very good, although probably understated point!



Goldman put out a gold positive article today but they are missing one, very important point:

What is the REAL price of gold today? All manipulative pressures from Central Banks and speculators aside.

“We apologise if we are getting a bit “picky” (not for “serious Goldbugs” perhaps), but Goldman doesn’t address the fact that the global gold market, including the LBMA (over 95% of the trading in unallocated “paper gold”), is a fractional reserve system, in which the ratio of paper to physical was estimated by the Reserve Bank of India at 92:1.”

At a 92-1 ratio of paper gold to physical, that means there is 92 times as many paper contracts outstanding as there is physical gold to cover them!

If you were to eliminate such manipulative speculation, and force these speculators to cover, the gold price (in my humble estimation) should shoot up 92 times in value. That would make gold close to $120,000 per ounce today!

Just a thought.

CIGA Wolfgang Rech

What Goldbugs Have Been Waiting For: Goldman’s New Primer On Gold
October 17, 2017

The good news is that Goldman believes “precious metals remain a relevant asset class in modern portfolios, despite their lack of yield” and disagrees with Ben Bernanke and the naysayers “They are neither a historic accident or a relic. Indeed, by looking at each of the physical properties of an ideal long-term store of value…we can clearly see why precious metals were initially adopted and why they remain relevant today.”

It was sounding really good – and there was 91 pages to go – although when it came to the drivers of precious metal prices, Goldman did not exactly re-invent the wheel “We see two key drivers of the precious metals markets: Fear and Wealth”

That said, there was a new take on what, in Goldman’s eyes constitutes fear as “in our new framework we see a closer link to growth expectations. However, we ?nd that many risk factors are relevant, depending on the sub-component of gold demand: real interest rates, debasement risks, sovereign balance sheet risks, geopolitical risks and other market tail-risks. Stated more simply, we are talking about the drivers of “risk-on”/”risk-off” behavior in markets.”

On the wealth angle, the good news for gold was that “as economies grow, they tend to go through a rapid gold accumulation phase at around per capita GDP of $20,000-$30,000, following a ‘hump-shaped’ relationship between per capita income and gold demand. As more EM economies (including China) are set to grow to these income levels over the next few decades.”

As in-depth students of gold market research, our mood was lifted by some genuinely original research. Goldman found that the ratio between gold purchases and household savings (global we assume) has been broadly stable at around 1.7% for almost 40 years. Who knew that.


Posted at 9:29 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

Truth Bomb! Of course we already knew this but it now comes out publicly for Joe Six Pack’s perusal. Actually, it was a surprise it did not become a major issue during the election? Let’s call this one the “Uranium One” truth bomb and add it to the growing list…

FBI Uncovered Russian Bribery Plot Before Obama Administration Approved Controversial Nuclear Deal With Moscow
October 17, 2017

Before the Obama administration approved a controversial deal in 2010 giving Moscow control of a large swath of American uranium, the FBI had gathered substantial evidence that Russian nuclear industry officials were engaged in bribery, kickbacks, extortion and money laundering designed to grow Vladimir Putin’s atomic energy business inside the United States, according to government documents and interviews.

Federal agents used a confidential U.S. witness working inside the Russian nuclear industry to gather extensive financial records, make secret recordings and intercept emails as early as 2009 that showed Moscow had compromised an American uranium trucking firm with bribes and kickbacks in violation of the Foreign Corrupt Practices Act, FBI and court documents show.

They also obtained an eyewitness account — backed by documents — indicating Russian nuclear officials had routed millions of dollars to the U.S. designed to benefit former President Bill Clinton’s charitable foundation during the time Secretary of State Hillary Clinton served on a government body that provided a favorable decision to Moscow, sources told The Hill.

The racketeering scheme was conducted “with the consent of higher level officials” in Russia who “shared the proceeds” from the kickbacks, one agent declared in an affidavit years later.


Bill Holter’s Commentary

A heart warming example of sense of duty and loyalty. Most employers can only dream of this kind of employee…And probably not a bad dude to have by your side in a bar fight!

Goat-Herding Dog Refused To Abandon Flock Amid Firestorm, Miraculously Survived
October 16, 2017

SANTA ROSA (CBS SF) — With the deadly flames of the Tubbs Fire bearing down on his property, Roland Tembo Hendel knew it was time to round up his family, dogs and cats flee.

But there simply was no room for the family’s flock of goats.

“By 11:10 we could see the first of the flames across the valley,” he wrote on his Facebook page. “By 11:15 they were growing larger and the winds went mad. We had loaded up the dogs and cats, but Odin, our stubborn and fearless Great Pyrenees would not leave the goats.”

Odin — living up to the Norse god he is named after — would not abandon the flock.

So the family reluctantly and with heavy hearts, watched Odin was they were departing, hoping they would see him again but knowing it was likely he would not survive.

“Even under the best of circumstances it is nearly impossible to separate Odin from the goats after nightfall when he takes over the close watch from his sister Tessa,” Hendel wrote. “I made a decision to leave him, and I doubt I could have made him come with us if I tried.”


Bill Holter’s Commentary

WOW! What a shock, the NY Times tried to sway the elections? No “Russians” on their payroll!

Undercover Video: NYT Editor Slams Pence As ‘F***ing Horrible,’ Says Reporters Tried To Sway Voters Against Trump
October 17, 2017

The newest Project Veritas video reveals a New York Times editor trashing Vice President Mike Pence as “f***ing horrible” and indicating that reporters wrote stories during the presidential campaign with the intention of persuading them to vote against Trump.

“I think one of the things that maybe journalists were thinking about is like, oh, if we write about him, about how insanely crazy he is and how ludicrous his policies are, then maybe people will read it and be like, oh wow, we shouldn’t vote for him,” Desiree Shoe, the London homepage editor for the NYT, says in the video. She claims in the video that it’s hard for journalists to cover Trump in an “unbiased” manner, describing him as “an oblivious idiot.”

Shoe is open about her clear bias against Pence in the video, describing the vice president as “f***ing horrible” and mocking him as “extremely, extremely religious.”

As a London editor, it’s unclear how large of a role Shoe may have played in the NYT’s election coverage. At the very least, her comments are indicative of a left-wing, anti-Trump culture at the NYT that usually remains out of the public eye.

TheDC has reached out to the NYT for comment and will update when they respond.

The video is the latest release from Project Veritas, as part of a project meant to unmask liberal media bias at establishment media outlets like the NYT and CNN.


Bill Holter’s Commentary

Add this one to the “truth bomb” list!

Kobe Steel Scandal Goes Nuclear: Company Faked Data For Decades, Had A “Fraud Manual”
October 16, 2017

Last week we reported that in the latest instance of criminal Japanese corporate malfeasance, Japan’s third-biggest steel producer admitted falsifying data about the quality of steel, aluminum, copper, iron powder and other products it sold to customers across virtually every single industry. The news sent the company’s stock tumbling 43% from levels before the scandal broke, to the lowest price since 2012.


The downstream impact was quickly felt, with selling hitting names across the global supply chain…



Judicial Watch: State Department Reveals 2,800 Huma Abedin Government Documents on Weiner’s Laptop
October 17, 2017

(Washington, DC) – Judicial Watch revealed today that the U.S. Department of State admits it received 2,800 Huma Abedin work-related documents from the Federal Bureau of Investigation (FBI) that were found on her estranged husband Anthony Weiner’s personal laptop. Abedin was former Secretary of State Hillary Clinton’s deputy chief of staff. Weiner is a disgraced former congressman and New York mayoral candidate who recently plead guilty to transferring obscene material to a minor. Abedin kept a email account that she used repeatedly for government business on Hillary Clinton’s notorious email server(s).

The revelation was produced in a May 5, 2015, lawsuit Judicial Watch filed against the State Department (Judicial Watch, Inc. v. U.S. Department of State (No. 1:15-cv-00684)). Judicial Watch sued after the State Department failed to respond to a March 18, 2015, Freedom of Information Act (FOIA) request seeking: “All emails of official State Department business received or sent by former Deputy Chief of Staff Huma Abedin from January 1, 2009 through February 1, 2013 using a non-‘’ email address.”

In accordance with a court ordered production of documents, the State Department’s court filing states: “The State Department has identified approximately 2,800 work-related documents among the documents provided by the Federal Bureau of Investigation.” By December 31, 2017, the State Department expects to complete its review and production of the FBI records. The government suggests some of the material may be “duplicative” of other records.

“This is a disturbing development. Our experience with Abedin’s emails suggest these Weiner laptop documents will include classified and other sensitive materials,” said Judicial Watch President Tom Fitton. “When will the Justice Department do a serious investigation of Hillary Clinton’s and Huma Abedin’s obvious violations of law?”

Judicial Watch previously released 20 productions of documents in this case that show examples of mishandling of classified information and instances of pay to play between the Clinton State Department and the Clinton Foundation. Also, at least 627 emails were not part of the 55,000 pages of emails that Clinton turned over, and further contradict a statement by Clinton that, “as far as she knew,” all of her government emails had been turned over to department.


Posted at 12:41 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

Everything is “hackable” …except of course cypto currencies, their exchanges and wallets?

Every Wi-Fi network at risk of unprecedented ‘Krack’ hacking attack

October 16, 2017

Every Wi-Fi connection is potentially vulnerable to an unprecedented security flaw that allows hackers to snoop on internet traffic, researchers have revealed.

The vulnerability is the first to be found in the modern encryption techniques that have been used to secure Wi-Fi networks for the last 14 years.

In theory, it allows an attacker within range of a Wi-Fi network to inject computer viruses into internet networks, and read communications like passwords, credit card numbers and photos sent over the internet.

The so-called “Krack” attack has been described as a “fundamental flaw” in wireless security techniques by experts. Apple, Android and Windows software are all susceptible to some version of the vulnerability, which is not fixed by changing Wi-Fi passwords.

“It seems to affect all Wi-Fi networks, it’s a fundamental flaw in the underlying protocol, even if you’ve done everything right [your security] is broken,” said Alan Woodward of the University of Surrey’s Centre for Cyber Security.


Bill Holter’s Commentary

Why, why not just ask for National Security Clearance as a firm? Or, they should just team up with Google to run the “ministry of truth”? Had Trump not been elected…we would already have a “czar” of said ministry and you would not be reading this presently…!

Facebook Is Looking for Employees With National Security Clearances
October 16, 2017

Facebook Inc. is looking to hire people who have national security clearances, a move the company thinks is necessary to prevent foreign powers from manipulating future elections through its social network, according to a person familiar with the matter.

Workers with such clearance can access information classified by the U.S. government. Facebook plans to use these people — and their ability to receive government information about potential threats — to search more proactively for questionable social media campaigns ahead of elections, according to the person, who asked not to be identified because the information is sensitive. A Facebook spokesman declined to comment.

Job candidates like this are often former government and intelligence officials or contractors. The status can carry over to private-sector jobs, as long as the position still requires access to sensitive information. Previously granted clearances become inactive when intelligence workers leave government employment, but they can be reactivated on Facebook’s behalf, the person said.

The Office of the National Director of Intelligence and the Department of Homeland Security didn’t respond to requests for comment on Sunday.


Bill Holter’s Commentary

So maybe I was wrong when I have said “no one could be so stupid as to put current policy in place …it has to be a plan”?  Maybe they really DON’T KNOW what they are doing.  Truly scary either way!

Pharmacist Who Shuttles Carloads Of Pharma Drugs To Congress Admits They’re Senile, Brain-Damaged Patients Who “Might Not Even Remember What Happened Yesterday”
October 15, 2017

(Natural News) Many of the nation’s top lawmakers appear to be pharmaceutical drug addicts who rely on a steady stream of pharma pills being covertly shipped into them daily at Capitol Hill via a local pharmacy in D.C. known as Grubb’s. It’s a quaint little place that a recent article published by featured in an almost sentimental light, while also admitting that many members of Congress who utilize its services likely “aren’t all there” in terms of their brain function.

Mike Kim, the head pharmacist and owner of Grubb’s, should know; he’s the one who’s responsible for filling prescriptions for members of Congress. And he says that what he sees are plenty of prescriptions for things like diabetes and circulation issues, as well as for more serious conditions like Alzheimer’s disease and other forms of dementia. This, he says, is somewhat concerning because it calls into question whether or not the people crafting our country’s laws are cognitively fit to be making such important decisions.

“It makes you kind of sit back and say, ‘Wow, they’re making the highest laws of the land and they might not even remember what happened yesterday,’” Kim reportedly told

Grubb’s has apparently been involved in legally trafficking pharmaceuticals to and from the Capitol building on a daily basis since at least 1997. It operates through the Office of the Attending Physician (OAP), which basically functions as the personal physician for members of Congress. The OAP is secretive in its dealings – and understandably so, seeing as how the personal medical affairs of members of Congress should remain private, just as they do for every other American.


Bill Holter’s Commentary

Who could have seen this one coming??? Make sure to read some of the comments!

Backlash: Week 6 of the NFL Reveals Several Nearly Empty Stadiums As Fans Continue to Leave the League
October 16, 2017

The NFL likely hoped for a return to normalcy for Week 6, especially after Commissioner Goodell’s call to “move past the anthem controversy,” and address the issue in detail at league meetings on Tuesday. Instead, what the NFL got was a return to what has become the “new normal” in the age of anthem protests: empty seats.

Throughout the league, stadiums could be seen with thousands of empty seats at kickoff, and, in some cases in the middle of the game.

Here is a pic with several empty, or near empty stadiums at kickoff on Sunday:



Fusion GPS, Company Behind Anti-Trump Dossier, Fights House Subpoenas
October 16, 2017

The political research firm behind a controversial and unverified anti-Trump dossier is fighting subpoenas from the House Intelligence Committee, with its lawyer seeming to lay the groundwork for company representatives to plead the Fifth on Capitol Hill.

Joshua Levy, the attorney for Fusion GPS, said in a letter to the panel Monday that House Intelligence Chairman Devin Nunes, R-Calif., is acting “in bad faith.”

“Based on this Committee’s bad faith interactions with the undersigned counsel and its pattern of unprofessional conduct exhibited during different points throughout this investigation, you have left us with no choice but to advise our clients to assert their privileges in the face of these subpoenas,” he wrote, in a 17-page list of reasons why the company would not comply.

Levy noted that Fusion GPS co‐founder Glenn Simpson spoke recently to another congressional committee, but asked that the company be excused from testimony before Nunes’ panel as sought by the subpoenas.

A congressional official familiar with the matter fired back, saying in a statement to Fox News:

“Democrats and Fusion GPS have tried to obstruct every effort to get the facts about the compilation of the Steele dossier and who paid for it, so it’s no surprise that Fusion GPS is saying they’ll continue to obstruct these efforts. Fusion GPS is clearly paving the way to plead the fifth, and Congress is trying to find out if they’re trying to hide something.”


Firm Behind Trump Dossier Refuses To Comply With Russia Probe Subpoena
October 16, 2017

The political consulting firm behind an infamous dossier alleging ties between President Trump’s campaign and the Russian government refused Monday to comply with a subpoena from the House intelligence committee.

Lawyers for the firm, Fusion GPS, dismissed the subpoenas as “shameful” in a letter to the committee’s chairman, Rep. Devon Nunes, R-Calif., whom they accused of having launched his own “parallel investigation to the detriment of any serious attempt by this Committee to obtain information about whether the Russian government and its associates influenced the 2016 presidential election.”

Fusion GPS commissioned former British intelligence officer Christopher Steele to research Trump in the months before the election. The result was an explosive — and, so far, unverified — dossier alleging extensive ties between Trump and the Russian government, which Trump has said are both false and “disgraceful.”

The dossier — both its accuracy and its role in the FBI’s probe of Russian influence — has become a subject of the three separate congressional Russia investigations.

Fusion GPS’ lawyers, Joshua Levy and Robert Muse, said in a letter Monday that Nunes signed subpoenas on Oct. 4 seeking records and testimony from three people connected to the firm. Among other things, lawmakers have been trying to determine who paid Fusion GPS to investigate Trump. The subpoenas had not previously been made public.


Firm Tied to Trump Dossier Objects to House Panel Subpoenas
October 16, 2017

A firm that helped produce a salacious opposition-research dossier that said President Donald Trump’s campaign colluded with Russians is objecting to subpoenas issued by the House Intelligence Committee.

Joshua Levy, a lawyer for the firm, Fusion GPS, said in a letter Monday the subpoenas violate the Constitution’s First Amendment and would “chill” those running from office from conducting opposition research in an election. He also questioned whether Republican panel Chairman Devin Nunes of California was authorized by his committee colleagues to issue them.

“His subpoenas are a clear abuse of power: They are designed to obfuscate the facts and conjure up rank conspiracy theories at the behest of the president and his most obsequious allies in Congress,” Levy said in a statement.

The subpoenas seek information on the creation of the dossier, written mostly by former British spy Christopher Steele. The 35-page document included unverified allegations about Trump, including collusion with Russia and compromising information about the president. Trump has denied the allegations.

A Republican congressional official familiar with the matter responded to the letter by saying Fusion GPS is paving the way to plead the Fifth Amendment, as Congress attempts to learn whether the firm is trying to hide something.


Dossier Firm’s Lawyers Accuse Devin Nunes Of ‘Unprofessional Conduct’
October 16, 2017

Lawyers representing the firm that put together the so-called Trump dossier wrote a scathing letter to House Intel Chairman Devin Nunes (R-CA) — who has recused himself from the committee’s Russia probe, but nonetheless issued subpoenas to the firm — accusing Nunes and his staff of operating with a “pattern of unprofessional conduct.”

“Now that you, and by extension, your staff, have proven to be unreliable partners in good faith negotiations, we cannot reasonably be expected to trust anything that you or your staff would represent to us,” the lawyers for Fusion GPS said Monday in the letter. “We cannot in good conscience do anything but advise our clients to stand on their constitutional privileges, the attorney work product doctrine and contractual obligations.”

The lawyers signaled that Fusion GPS would not be turning over the documents Nunes’ subpoena requested (though the firm did preserve them). The lawyers said that, if compelled to appear in front of the committee, Fusion GPS representatives would invoke their constitutional privileges not to testify. They laid out a number of reasons they believed Nunes and his staff had acted in “bad faith” in issuing the subpoenas, including him doing so unilaterally despite his recusal as well as various “infirmities” in the subpoenas themselves.

The dossier and the private investigators who put it together have become of interest to the various entities investigating Russian meddling in the 2016 election. Fusion GPS co-founder Glenn Simpson was interviewed for 10 hours by the Senate Judiciary Committee and Special Counsel Robert Mueller’s team has reportedly met with the dossier’s author Christopher Steele, a former British spy.


Bill Holter’s Commentary

Here we go into stupid season! Guess I was wrong, I figured a Trump mask would be number one? Way back in the day, I wore a Reagan mask to a Ted Kennedy rally which got me immediately surrounded by secret service, I had no idea a Halloween costume could be so scary!

The Five Most Triggering Halloween Costumes of 2017
October 14, 2017

As the days get shorter and cooler, a familiar pre-Halloween ritual is swinging into high gear. Of course I’m talking about the spasms of faux outrage and virtue-signalling over Halloween costumes we are seeing as the big day draws near.

Business Insider has a list of fourteen costumes “you shouldn’t wear this year” because some common Halloween costumes can be “problematic.”

As a public service, I’ve whittled the number down to the top five politically incorrect costumes you should avoid this year if you don’t want to trigger outrage, emotional meltdowns, and even fisticuffs on Halloween.

  1. Hobo Costume:


Posted at 3:31 PM (CST) by & filed under In The News.

Tom Fitton discusses the Awan Brothers, New Clinton/Lynch Docs, Sanctuary City Policies…And More!
October 13, 2017

JW Presents: A Discussion on the Awan Brothers IT Scandal w/ Congressional House Members
October 10, 2017

URGENT UPDATE: Imran Awan Operated Out of Pakistan While Managing House Cybersecurity
October 12, 2017

BREAKING: FBI Hid Clinton/Lynch Tarmac Meeting Records
October 13, 2017

Gold Rush: Russia Stockpiling Bullion Like There’s no Tomorrow
October 14, 2017

The Central Bank of Russia has recently been buying bullion at an unprecedented pace. According to Argentine financial expert Gabriel Rubinstein, this policy is aimed at protecting the Russian economy in the event of crisis situations, including against dollar-related “manipulations” by the US.

“Countries stockpile gold for strategic and defensive reasons; for instance, in case relations between nations are damaged and their currencies lose their value,” Gabriel Rubinstein, a financial consultant and former representative of the Argentine Central Bank, told Sputnik Mundo.

If there is such a situation, according to the expert, gold reserves would be the basis for a new currency or other valuable assets in the future.

“Gold, this eternal financial resource, has a real value if compared to other financial assets. The Russian government believes that it’s better to have more gold resources than dollars. Hypothetically speaking, if Russia holds tons of US dollars and the US wanted to damage its economy, this would be possible through currency manipulations,” Rubinstein said, adding that gold guarantees against such a scenario.

The Russian Central Bank has significantly increased the pace of its gold purchases. In the period between January and September 2017, the regulator bought 4.2 million troy ounces of the precious metal worth over $5 billion, 15 percent more than in the same period last year.


Posted at 6:11 PM (CST) by & filed under Bill Holter.

As many of you know, I worked in the brokerage industry as a stockbroker/branch manager for 23 years. During that time and the 10+ years since, I have seen the “herd” move(d) violently in tandem many times. For years, smart investors would discern what retail investors were doing as a group and do the opposite quite profitably. It has been said and I have to agree, “the little guy is almost always wrong, and wrong at the wrong time”. Fade the little guy, it is usually quite profitable!

We are again seeing this phenomenon as evidenced by the VIX trading at all time lows and huge capital betting on continued non volatility. This thought process has obviously been aided and abetted by central bank’s massive liquidity flows and “official” purchases of anything and everything to support amarkets. Just to point out, it is not so much the fault today of market participants as it is central banks for “fooling” them into their complacency.

Another area where we can see public action is with official mint sales of coins. Zerohedge recently wrote about this here;

The public has largely shunned purchasing metals since Feb/March of this year after 18 months of very strong appetite


The above chart is only half of the story because it relates only to retail demand as opposed to “supply” (selling) in the retail space. (Before going any further, please do not panic as what I am talking about is “retail” as opposed to institutional or even sovereign demand, which has remained strong. And rest assured, the little guy buying retail lots will never determine the market but more on this in a moment).

What has actually happened this year is something we have NEVER seen before, the little guy has not only backed away from purchasing coin, they have actually been sellers unlike never before. It is hard to say “why” but I have a couple of suspicions. First, “burnout”. People have watched as stocks/ bonds/real estate have continually inflated since 2013 while gold and silver prices have been suppressed. (This is a topic already covered extensively by GATA and others, if you don’t believe metals prices have been suppressed, I have some ocean front property in Arizona for you.)

Basically, the little guy has gotten “tired” of waiting, in this sense the central banks have won by holding an exploding system together longer than the average investor can wait. Obviously another factor is “the other pasture”, it is hard for people to watch markets go higher and not be on board. Never mind interest rates at 5,000 year lows or stocks and real estate priced at all time high multiples of cash flow, earnings etc. We even see “air” trading at $4,900!

The mass retail selling has done what one would suppose, coin premiums have sunk to all time lows. This has however created an incredible opportunity! You can now purchase AU Liberties (almost uncirculated 1933 and earlier gold coins) for LESS than current 2017 Eagles. Not only that, the premiums for higher grade “uncirculated” coins in the MS 61-MS 63 grade range are such that pricing is roughly equal to or only slightly higher than one ounce Gold Eagle prices. The anomaly is so severe, even when sourcing 1/4 and 1/2 ounce Liberties, there is little to NO PREMIUM over the one ounce coins! At this point, 1/4 and 1/2 ounce Liberties can be purchased at 5% and larger discounts to their same weight American Eagle counterparts. This makes no sense and has never happened before but it is in fact the case currently.

To put this in perspective, Liberties were being “bid” (what dealers were paying customers) 60%-70% OVER spot back in 2009. Higher graded uncirculated coins were being bid even higher. The fear back then was president Obama would lead a charge of gold confiscation. Capital moved away from bullion and into these numismatics as an effort to cover from confiscation. The thought process was, and I believe rightly so, pre 1933 coins would be considered your “coin collection” rather than current bullion subject to confiscation. The best thing to have done then was turn numismatics into 60% more bullion, the situation is reversed today.

The bottom line is this, given the choice of purchasing bullion or numismatics today, the choice is a no brainer. You can purchase coins with numismatic value for equal or less than a current sovereign coin. You will own a rare coin with numismatic value where premium in the future is highly likely (if not guaranteed?) to increase and maybe increase drastically …while paying a discount today to do so. Alternatively, if you own Gold Bullion the opportunity exists to swap into rare coins for very close to even up. If you wanted to swap in higher grade uncirculated coins, you might be giving up only 5%-10% weight but owning coins where the premiums will likely come back and probably substantially. Remember, these Libs and Saints have not been minted since 1933 while sovereign mints create several million of their coins each and every year …and only change the dates on them!

The opportunity currently exists and has never existed before. Should retail investors (or even institutions if they figure this out) begin to move back in to the tiny numismatic space, the window will close rapidly. If you would like to learn more about the existing opportunity available, please contact me at or contact Miles Franklin at 800-255-1129. We currently have substantial inventory available and the ability to source more if needed. Obviously, once the market recognizes the mispricing, older and rare coins will be bought up to correct the current mispricing!

Standing watch,

Bill Holter

Holter-Sinclair collaboration

Posted at 10:12 AM (CST) by & filed under In The News.

James Mattis Calls B.S. On NBC’s Nuclear Weapons Story
October 11, 2017

Today NBC News reported that at a July 20 meeting that President Trump expressed a desire to expand the US nuclear arsenal from 4,000 to 32,000 warheads. The object of the report was clear, to further push the Democrat narrative that Trump is an idiot. Trump protested,

giving rise to yet more anti-Trumpian rage.

Now someone who was there has issued an on-the-record statement:

Defense Secretary James Mattis disputed an NBC News report Wednesday that President Donald Trump sought a tenfold increase in the U.S. nuclear stockpile during a summer meeting

“Recent reports that the president called for an increase in the U.S. nuclear arsenal are absolutely false. This kind of erroneous reporting is irresponsible,” Mattis said in his statement. Trump, during a brief interaction with reporters ahead of a meeting with Canadian Prime Minister Justin Trudeau, mentioned that Mattis would be releasing a statement contesting the NBC News report.


Bill Holter’s Commentary

May God have mercy and help these people. We survived a wild fire that took 1,700 homes, ours included. Many lives will change in ways not even contemplated now. I can state from first hand experience that some of the change is good, especially the new found appreciation of life itself!

New Satellite Photos Reveal The California Wildfire’s Shocking Damage From Space
October 11, 2017

More than a dozen wildfires ignited on Sunday in Northern California, a region at its driest this time of year.

Flames have consumed more than 170,000 acres of land, killed at least 23 people, destroyed thousands of homes, and forced tens of thousands of people to evacuate. Napa and Sonoma counties — the heart of California wine country — are especially hard-hit.

Officials have yet to determine the origin of the Santa Rosa wildfires, but dry and powerful “Diablo winds” that blow in overnight may have stoked and spread the infernos.

Satellites in space are recording shocking views of the disaster, an event that some experts are calling one of the worst firestorms in the state’s history.

On Wednesday night, DigitalGlobe — a satellite-imaging company that captures 100 terabytes’ worth of new photos of Earth each day — released some of the first close-up views of the disaster from orbit.


Bill Holter’s Commentary

The problem is…they cannot pay what is not there and does not exist.

Teamsters Rally In Springfield To Fight Pension Cuts At UPS
October 12, 2017

SPRINGFIELD, Mo. — A large group of teamsters gathered in Springfield Thursday, holding rallies at the local UPS center and at the teamsters Hall.

They are rallying because they oppose a plan by UPS to cut pensions by 20%. Many retired Teamsters from this area and the Kansas City area held a “no cuts rally.”

They started the morning at the UPS center. Ralliers say the change would affect over 400,000 teamsters and their families Nationwide. UPS says they have proposed the cuts because the pension plan is in trouble and if something isn’t done now, the cuts could be more extreme in the future, or the plan could completely fail.

A UPS spokesman says, “UPS is troubled by the difficult and potentially life-changing impact of pension benefit reductions on current and future retirees. Allowing multiemployer plans to default likely brings far deeper cuts than addressing the funding issues today, while there is time to make a difference. Simply hoping for a full federal bailout of failing multiemployer plans is not a viable solution. The company is working to develop alternative solutions that will help address the declining health of multiemployer pension plans.”

Many of those rallying today are from the Kansas City area as well as some from the Springfield area. many are former UPS employees, but some Teamsters worked for other companies, like Burley Swift, who retired from Consumers grocery store in 2001.


Bill Holter’s Commentary

More proof of movement away from the dollar. How much is too much?

China Establishes Yuan-Ruble Payment System
October 12, 2017

SHANGHAI (Reuters) – China has established a payment versus payment (PVP) system for Chinese yuan and Russian ruble transactions in a move to reduce risks and improve the efficiency of its foreign exchange transactions.

The PVP system for yuan and ruble transactions was launched on Monday after receiving approval from China’s central bank, according to a statement by the country’s foreign exchange trading system.

It marks the first time a PVP system has been established for trading the yuan and foreign currencies, said the statement, which was posted on Wednesday on the website of the China Foreign Exchange Trade System (CFETS).

PVP systems allow simultaneous settlement of transactions in two different currencies.


Posted at 1:35 PM (CST) by & filed under Jim's Mailbox.

CIGA Dwight sends us a good one! Surely this is equitable? We should not be surprised when viewed from the standpoint of “swamp world”!

Posted at Miles Franklin by our good friend Jeremiah Johnson. Courtesy of JB.


Print Till It Dies
October 11, 2017

The US Dollar has had a wonderful run in its life time. Not too many fiat currencies have had the ability to sustain its usage for as long as this mighty experiment has and all who have reported on this instrument of trade are pretty much pointing to the same outcome that it can’t last much longer.

Today, the US Dollar trade sits at 93.55 down 8.6 points in the early morning on this Columbus Day. Not too long ago the dollar broke thru a multiyear downside target of 91.88 which originally happened in May 2016, just before we all went thru the election cycle and surprise of a lifetime, MAGA! That is until we hit a newer low of 90.795 on Sept 8th, 2017 which was just 1 week before the Triple Witch Roll Over (which includes the rolling over of all US debt as well as rolling out of the G7 currencies). It is also the end of the fiscal year for the United States Government (Sept 30), and another point of interest, the beginning of the Chinese National Golden Week.

Since these events have occurred we have witnessed nothing but a lull in all things trade-able. We even had an eclipse that covered almost all of United States and since that event, our side of the planet has had numerous catastrophic weather events surrounding the “New World” with the USA, Mexico, Cuba, The Virgin Islands, Puerto Rico, Tortola, and countless other islands. These people living in these areas have had life altering changes in infrastructure and livelihood, yet, when it comes to the markets, all we get is float.

Hundreds of billions of dollars (and possibly topping a trillion) have been lost in all things from daily life to all the jobs that are needed to have one. Yet, our stock market has done nothing but continue to rally as if the consequences that have affected millions of citizens no longer matter. What are we watching here in the markets when we have so much at stake and yet nothing works like it did in the past?


Our very good friend David (from the witness protection program) avails us with some very interesting statistics and commentary.


Interesting statistics!

There are 30,000 gun related deaths per year by firearms, and this number is not disputed.

The U.S. Population is 324,059,091 as of June 22, 2016. Do the math: 0.009257% of the population dies from gun related actions each year. Statistically speaking, this is insignificant! What is never told, however, is a breakdown of those 30,000 deaths, to put them in perspective as compared to other causes of death:

• 65% of those deaths are by suicide, which would never be prevented by gun laws.

• 15% are by law enforcement in the line of duty and justified.

• 17% are through criminal activity, gang and drug related or mentally ill persons – better known as gun violence.

• 3% are accidental discharge deaths.

So technically, “gun violence” is not 30,000 annually, but drops to 5,100. Still too many? Now lets look at how those deaths spanned across the nation.

• 480 homicides (9.4%) were in Chicago

• 344 homicides (6.7%) were in Baltimore

• 333 homicides (6.5%) were in Detroit

• 119 homicides (2.3%) were in Washington D.C. (a 54% increase over prior years)

So basically, 25% of all gun crime happens in just 4 cities. All 4 of those cities have strict gun laws, so it is not the lack of law that is the root cause.

This basically leaves 3,825 for the entire rest of the nation, or about 75 deaths per state. That is an average because some States have much higher rates than others. For example, California had 1,169 and Alabama had 1.

Now, who has the strictest gun laws by far? California, of course, but understand, it is not guns causing this. It is a crime rate spawned by the number of criminal persons residing in those cities and states. So if all cities and states are not created equal, then there must be something other than the tool causing the gun deaths.

Are 5,100 deaths per year horrific? How about in comparison to other deaths? All death is sad and especially so when it is in the commission of a crime but that is the nature of crime. Robbery, death, rape, assault are all done by criminals. It is ludicrous to think that criminals will obey laws. That is why they are called criminals.

But what about other deaths each year?

• 40,000+ die from a drug overdose–THERE IS NO EXCUSE FOR THAT!

• 36,000 people die per year from the flu, far exceeding the criminal gun deaths.

• 34,000 people die per year in traffic fatalities(exceeding gun deaths even if you include suicide).

Now it gets good:

• 200,000+ people die each year (and growing) from preventable medical errors. You are safer walking in the worst areas of Chicago than you are when you are in a hospital!

• 710,000 people die per year from heart disease. It’s time to stop the double cheeseburgers! So what is the point? If the liberal loons and the anti-gun movement focused their attention on heart disease, even a 10% decrease in cardiac deaths would save twice the number of lives annually of all gun-related deaths (including suicide, law enforcement, etc.). A 10% reduction in medical errors would be 66% of the total number of gun deaths or 4 times the number of criminal homicides ……………. Simple, easily preventable 10% reductions! So you have to ask yourself, in the grand scheme of things, why the focus on guns?

It’s pretty simple:

Taking away guns gives control to governments. The founders of this nation knew that regardless of the form of government, those in power may become corrupt and seek to rule as the British did by trying to disarm the populace of the colonies. It is not difficult to understand that a disarmed populace is a controlled populace.

Thus, the second amendment was proudly and boldly included in the U.S. Constitution. It must be preserved at all costs.

So the next time someone tries to tell you that gun control is about saving lives, look at these facts and remember these words from Noah Webster:

“Before a standing army can rule, the people must be disarmed.” We now know what they’re trying to do, rule the defenseless.

Wolfgang checks in with some common sense.



What’s in your wallet?


Or should I say “What would you rather have in your wallet”?

3 solid gold coins?

Or 300 silver coins?

Or 1 virtual (intangible, promissory virtual note) bitcoin?

You always try on a pair of shoes before you buy them. Why not try a few precious metal coins on for size?

Then compare.

Look, there’s talk of bitcoin going to $10,000 or higher. Perhaps $50,000. To be fair, you have the same talk about gold and silver.

Furthermore, silver (and to a lesser extent gold) are indispensable components in today’s high tech world and medical arena.

You get double protection, not only from a global fiat implosion, but also an investment in vital and strategic metals.

Bottom line, either way you will ride the wave higher….unless, of course, someone pulls the light switch on cryptos.

And don’t kid yourself, it’s easy to pull the switch on the “cloud”.

Not so easy taking gold and silver from you!

CIGA Wolfgang Rech

Economics trends are a function of CREDIT, so what else is the article saying, please comment for readers?


Dear Jim,

As you know, the world runs on credit from financial markets to the real economy. Withdrawing “added liquidity” is like taking the punchbowl away or the next hit away for an addict. “Liquidity” has masked the fact of an insolvent system for years. If they (central banks) do actually stop adding liquidity it will be the same thing as backing out the oil drain plug to an oil pan, the motor will seize up. Maybe slowly at first but then all of a sudden…and totally frozen solid.

The credit system not only needs current liquidity adds but always will need MORE exponentially. Think of the old saying “a snowball’s chance in hell”, this is exactly the chance of central banks withdrawing liquidity (AND raising rates) without financial markets and the real economy going into seizure and death. If “zero liquidity add” is truly the future from central banks, they are guaranteeing the greatest credit contraction of all time as a result. This will happen on its own one way or the other, if they truly try to tighten then they will not have any cover to blame the carnage on other than themselves.



“This Is Most Worrying”: In One Year, Central Bank Liquidity Will Collapse From $2 Trillion To Zero
October 11, 2017

Is it complacency, or simply trader paralysis?

A question we first asked three months ago is getting a second wind this morning, when in a report by Deutsche Bank’s Alan Ruskin – “Vol: freeze or flight?” – the macro strategist points out that “the new 2017 Nobel laureate for Economics is not the only one at a loss to explain low stock market volatility, and thinks investors are in ‘freeze mode’ in the midst of global uncertainties.”

According to Ruskin, however, it’s all about to change.

But why? And what is “the most likely causes of a shift to ‘flight mode’ and a rise in volatility? Here’s one possibility: by the end of next year, the combined expansion of all the major Central Bank balance sheets will have collapsed from a 12 month growth rate of $2 trillion per annum to zero.”