Posted at 6:25 PM (CST) by & filed under General Editorial.

If one offered investors a fat tail put option that never decays or expires, costs about -1% pa to carry, has no counter party risk & no chance of ever becoming worthless, there would be a line out the door. But when one explains that this option is physical gold… no interest.

          S. Mikhailovich

Posted at 11:59 AM (CST) by & filed under Jim's Mailbox.

Courtesy of JB.













This is the front page of the NYT. The story is fake. As I have posted in the past, the bridge has never been open. It was not blocked because of the aid. The mouth piece of the Deep State knows it is false, but that doesn’t stop them because most people never fact check.

The real story is from Southfront below.


Trump Delivers Blunt Warning to Venezuela Military Over Aid Impasse
February 18, 2019

MIAMI — President Trump on Monday delivered his sharpest warning yet to Venezuela’s military authorities in an increasingly tense showdown over that country’s crisis, proclaiming they would “lose everything” by remaining loyal to President Nicolás Maduro and refusing to allow in emergency aid stockpiled on the border.

Mr. Trump gave the warning in a speech denouncing Venezuela’s brand of socialism to an enthusiastic crowd in Miami that included many Americans of Venezuelan descent who have fled Venezuela or have relatives in the country, once Latin America’s wealthiest but now facing the greatest economic collapse in generations.

He spoke five days before a deadline that his administration and the Venezuelan opposition leader, Juan Guaidó, have declared for getting humanitarian aid into the country — a move aimed at weakening Mr. Maduro, who is no longer recognized by the United States and roughly 50 other nations as the country’s president. Mr. Trump was the first to recognize Mr. Guaidó last month as Mr. Maduro’s replacement until new elections can be held.


Bridge “Blocked” At Colombia-Venezuela Border Crossing To Stop US Humanitarian Aid Has Been Never Opened
February 12, 2019












Allegedly blocked Colombia-Venezuela border crossing bridge appeared to be a permanently closed point. Contrary to MSM reports that it was blocked specifically to stop US humanitarian aid.


Posted at 11:51 AM (CST) by & filed under In The News.

Tom Fitton: Bill Barr Needs to Step Up and Defend Trump
February 19, 2019


Bill Holter’s Commentary

Webster’s dictionary might want to use this chart for its definition of monetization?

Posted at 3:10 PM (CST) by & filed under In The News.

Michael Oliver – We Are Going To See An Upside Crash In The Gold Market
February 19, 2019

With the Dow in the final phase of staging a bear market countertrend rally and gold surging to the $1,340 level, Michael Oliver, who is well known for his deadly accurate forecasts on stocks, bonds, and major markets, just said, “We are going to see an upside crash in the gold market.”

An Upside Crash In The Gold Market

February 19 (King World News) – Michael Oliver:  We are going to see an upside crash in the gold market. Gold will spike violently once it clears $1,350 – $1,360. Gold is doing this with a strong dollar. Gold is doing this with a strong S&P. That’s because there’s a crisis coming…


Posted at 11:07 AM (CST) by & filed under Jim's Mailbox.


Divide and conquer works ever time throughout history.


Disunited America
February 16, 2019

Disunited America

Paul Craig Roberts

Prior to the Democrats becoming the anti-American political party of Identity Politics, whites, blacks, and Puerto Ricans could laugh at themselves and at one another. Dean Martin turned a roast, in which good humored fun is poked at a prominent person, into mass entertainment. That blacks were equal opportunity targets was testimony to the success of black entertainers and athletes. In the humorless world of today, these roasts would be considered “hurtful,” “offensive,” and “hate crimes.”

Americans had to be trained to this new mentality. It was done in order to break us apart as a people, and it has succeeded. Recently, in response to overwrought reactions to youthful blackface experiences of current Virginia Democratic politicians, I posted a Dean Martin roast of Sammy Davis Jr. and asked if Davis was a self-hating black for permitting himself to be ridiculed on stage before a large audience.

The younger generation has been programmed to see Sammy Davis’ roast as a ‘step-and-fetch-it” black being ridiculed for white entertainment. That many of those roasting Sammy Davis were themselves black and Sammy Davis was a very successful multi-millionaire entertainer does not affect the modern perception of the event. I wonder if they see Ronald Reagan as a self-hating white:




Just like bankruptcy, “sanity” will return slowly…then all of a sudden!




Modern Monetary Theory (or as it should be known, Magic Money Tree).

“There is just one problem with this “theory”:

Alas, there is no free lunch. For one, the economy might not have enough resources — in the form of workers and industrial capacity — to meet the combined demand from the government and the private sector. The result would be inflation, as too much money chased too few goods and services.”

First Bill Gates saw the light:

‘… the establishment is starting to get worried. To wit, last week it was one of the world’s richest men, Bill Gates, who slammed MMT as “Crazy talk” saying that the theory’s core principle of “not worrying about the deficit” and that “we’ll just print the money and do it” is “Well crazy.

Now Dudley sees the light.

‘And not just inflation, but hyperinflation. However, to the socialists who pitch MMT, the fact that inflation hasn’t broken out yet – largely due to the relentless monetization of debt by central banks which has kept inflation in check so far, taking the experiment to its surreal extreme should not result in any dire outcome. And yet, that’s nothing but lunacy for two reasons. First, assume the current model remains in place indefinitely – the outcome would be as follows:

America as a whole consumes considerably more than it produces — and depends heavily on foreign investors to lend it the money needed to keep doing so. But they don’t have to make dollar-denominated loans or buy U.S. Treasury securities. If U.S. debts were to keep growing, at some point the Fed would face a dilemma. It could increase interest rates to maintain foreign (and domestic) demand for dollar assets, at the cost of damping U.S. economic growth. Or it could keep interest rates low and allow the dollar to weaken, which would push up inflation as imported goods and services became more expensive. Neither outcome would be pleasant.”

Lord help us all,

CIGA Wolfgang Rech

Bill Dudley Slams MMT: “It Failed In Germany, Venezuela And Zimbabwe”
February 19, 2019

While there has been much disagreement among the financial elite about the ultimate consequences of central bank activism and market manipulation, with some – usually those who do not manage money for a living and are not paid by investors – predicting fire and brimstone, while a separate, far more optimistic group expects the world’s greatest experiment in monetary policy to somehow have a happy ending, when it comes to socialism disguised as monetary policy, besides a certain, politically-influenced fringe, the condemnation against “helicopter money” wrapped in a convenient political wrapper has mostly been uniform.

We are talking, of course, about MMT, which stands for Modern Money Theory, but would make far more sense if it stood stand for Magic Money Tree, as the theory effectively espouses unlimited money printing and skipping central banks as intermediaries in money creation which, however, the theory claims does not result in hyperinflation because, somehow, taxation manages to limit the amount of money in circulation and the result is monetary utopia.

It is therefore hardly a surprise that MMT has emerged as the pet financial theory for such socialist politicians as Bernie Sanders and Alexandra Ocasio-Jones (the biggest proponent of MMT is finance professor Stephanie Kelton who previously worked on Sanders’ presidential campaign and was a “chief economist for the Dems on the Senate Budget Committee”), who get to promise their potential voters pretty much everything while also vowing not to worry about the insane costs that delivering “everything” would entail (AOC’s Green New Deal is said to cost over $6 trillion and according to some, the bill would be north of $20 trillion).


Posted at 12:22 PM (CST) by & filed under Jim's Mailbox.


The following YouTube video is Tom Wheeler talking 5G. I urge all readers to watch for a better understanding of what is taking place.


The Real 5G ‘Race’ Is To Serve All Americans
September 25, 2018

Note:Tom Wheeler served as the 31st chairman of the Federal Communications Commission from 2013 to 2017.

September 28 will see a White House rally to promote U.S. leadership in fifth generation (5G) wireless technology. I was part of a similar event at the Clinton White House in 1993 that promoted the importance of making more spectrum available through auctions that were then being considered by Congress. This time around, it looks like the messaging will be around the “5G race” between the United States and China.


What are some of the health effects? Watch…



For those of us who have hoped for the return of the rule of law, this is not a good sign.


Weiner Goes Free: Stiff Sentence Turns Soft As Ex-Congressman Gets Early Release
February 17, 2019

After he helped change the course of US history by prompting the FBI to reopen its investigation into Hillary Clinton’s use of a personal email server during the final days of the 2016 campaign, former New York Congressman and ex-husband of Hillary aide Huma Abedin has been released from federal prison a few months ahead of schedule thanks to his ‘good behavior’ on the inside, according to a TMZ report.

To be sure, Weiner must spend a few more months under federal supervision before he’s completely in the clear. Under the terms of his release, Weiner must now spend a few additional months in federal custody, either in a half way house or other supervised pre-release program, before he can lawfully reenter society. Weiner served his time at the Federal Medical Center in Devens, Mass., where he received treatment for his “condition” of being a sex offender.

Weiner resigned from Congress after his first sex offender scandal in 2011, then his comeback campaign for New York City mayor floundered in 2013 when he was…um…exposed for sexting porn star Sydney Leathers using the now infamous alias “Carlos Danger”.




This was the beginning of the end.


4,823 U.S. Banks Have Disappeared Since 1999
February 18, 2019

At the end of 1999, the year that President Bill Clinton and his Treasury Secretary Robert Rubin brokered the deal to repeal the Glass-Steagall Act of 1933 and allow the casino investment banks on Wall Street to gobble up deposit-taking banks, there were 10,220 federally insured banks and savings institutions in the United States. Today, that number stands at 5,397, a decline of 47 percent according to the Federal Deposit Insurance Corporation (FDIC). What exactly happened to those disappeared banks?

We examined FDIC data to see if the sharp falloff in bank numbers was from failures or mergers. We found that the vast majority of the decline resulted from banks being absorbed in mergers. By the end of 2005, six years after the repeal of Glass-Steagall, the U.S. still had 8,832 federally insured banking institutions. But in just that year alone, 315 banks were lost to mergers. By 2010, the number of U.S. banking institutions had dropped to 7,657 with 197 institutions absorbed that year through mergers. In years 2015, 2016 and 2017, there were a total of 786 federally insured banking institutions absorbed through mergers.

The loss of competition in banking services has unleashed an unprecedented concentration of the life savings of Americans being held as deposits at a handful of behemoth Wall Street banks which simultaneously engage in high risk securities and derivatives trading – the very combination that led to the epic Wall Street banking collapses in 2008 and the 1930s.




It is definitely showtime. Those believing there will be no repercussions (arrests) will be extremely wrong!






Q !!mG7VJxZNCI ID: 700827 No.5242957
Feb 18 2019 11:42:29 (EST)
The President of the United States, the Commander in Chief, AGREED that an illegal coup was attempted against him.
Stop and understand the GRAVITY of acknowledgement.
Do you believe nothing will happen?
Do you believe no one will be prosecuted?
POTUS making statements for no reason?
How do you introduce the TRUTH to those still asleep?
DECLAS coming?
The message must be direct (bypass the non reporting of the TRUTH (facts) by FAKE ‘spin the narrative’ NEWS).

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

Bill Holter’s Commentary

This was true then and still true today even if snowflakes cannot figure out the logic…












Bill Holter’s Commentary

$1.66 billion is more than double what the auto industry bailout was, AND the loans have produced countless snowflakes…such a deal!

$166 Billion In Student Debt Is Now Officially Delinquent
February 17, 2019

According to the Federal Reserve Bank of New York’s latest quarterly household debt report, student loan delinquencies surged last year, up to $166.4 billion in the fourth quarter. The report includes the total owed and the percentage of delinquent accounts past 90 days or in default.
























Posted at 12:17 PM (CST) by & filed under General Editorial.

Dear readers,

I believe in the following nine rules as fundamental truths.

1/ Foundation of law is the Constitution of the Nation.

2/ Law rises from the Constitution.

3/ Rule of law is the key ingredient to National success.

4/ Free markets are an absolute must.

5/ Free markets must eliminate unfair computer games and manipulators, plus front runners, especially the standing government.

6/ The Federal Reserve is the major manipulator in all things now.

7/ Free markets are the basis of capital creation, not casino.

8/ Without Free Markets capital creation dies.

9/ Without capital creation the nation dies.

I am not a capitalist. That notion eventually kills the creation of capital as above explained.

Economics is natural law and can never be eliminated but, yes, delayed.

Delaying the economic natural law destroys the fabricate of business.

Destruction of the fabric ate of business results in very long term consequences.

Democracy is a dream of the Greeks that has never happened there or anywhere else.

This is my personal belief, and does not necessarily reflect the beliefs of my associates.


Jim Sinclair

Executive Chairman


Posted at 11:14 AM (CST) by & filed under General Editorial.

The following are links to articles on the topics from our Saturday talk. As always, I encourage our listeners to read for themselves.



War is a racket. It always has been. It is possibly the oldest, easily the most profitable, surely the most vicious. It is the only one international in scope. It is the only one in which the profits are reckoned in dollars and the losses in lives. A racket is best described, I believe, as something that is not what it seems to the majority of the people. Only a small ‘inside’ group knows what it is about. It is conducted for the benefit of the very few, at the expense of the very many. Out of war a few people make huge fortunes.


Trump could not have become America’s President if he had not won the “vote” of his nation’s second-largest political donor in 2016, casinos-owner Sheldon Adelson.


In publicly recorded donations, as of 25 December 2018, Adelson and his wife donated $82,522,800 to Republican candidates


On the Democratic Party side, the largest 2016 donor was the largest of all political donors in 2016, the hedge fund manager Thomas Steyer, $91,069,795.


Tech; Are we so spied on, there is now no way out? They own us!


A key question that bears repeating is, should humans worry about their inept, bloodthirsty leaders handing over the reins of the war machine to… a war machine?


Boeing stock price 2003 25 dollars 2019 410 you do the math. This is the problem with appointing someone with “this deep of a conflict,” says Mandy Smithberger of the Project on Government Oversight’s Center for Defense Information. She told Politico that after Shanahan spent his entire career at Boeing, it would be “pretty close to impossible” for him to recuse himself from all Boeing-related matters.


Last October, the Trump administration pushed Iraqi officials to sign agreements with General Electric for multibillion-dollar power generation deals..


Police state? To serve and protect! The multi national corporations.


We’ve been railroaded into believing that our votes count, that we live in a democracy, that elections make a difference, that it matters whether we vote Republican or Democrat, and that our elected officials are looking out for our best interests. Truth be told, we live in an oligarchy, politicians represent only the profit motives of the corporate state, whose leaders know all too well that there is no discernible difference between red and blue politics, because there is only one color that matters in politics—green.


Multiple independent law enforcement experts, who agreed to review the incident, said the officers’ conduct was unlawful, potentially criminal, and one of the most cruel and troubling cases of police misconduct they’ve ever seen.


In addition to conducting a full and thorough check on the veteran’s body, the video also shows the federal agent checking Kolfage’s prosthetic legs and wheelchair, apparently for possible arms or explosives.


Shocked by the treatment of the most severly wounded airman in US history, the online community shamed TSA and united to express support for the veteran, who lost both his legs and his right hand in Iraq in 2004.


Laws once added almost never go away!


According to the Federal Register, 58 national emergencies have been declared since the National Emergency Act of 1976 was signed into law by President Gerald Ford…and 31 have been annually renewed and are currently still in effect, as listed in the Federal Register.

Here’s a list of the presidents who declared still ongoing national emergencies.




Venezuelan people have legitimate grounds for taking to the streets to protest against their president in times of hardship, but the French people do not. No siree!  To add insult to rubber bullet injury, Emmanuel Macron, the man who has triggered the biggest protests in France for over half a century, has the gall (no pun intended) to be right at the forefront of those supporting an un-elected leader in Venezuela, and all in the name of ‘democracy.’


They hate us for our freedom! Bulls#*t! They hate us because we gassed them during Saddam’s imposed war on Iran from 1980 to 1988, the Western governments provided the Iraqi regime with chemical weapons and sophisticated military equipment as well as strategic supports.


During Saddam’s imposed war on Iran from 1980 to 1988, the Western governments provided the Iraqi regime with chemical weapons and sophisticated military equipment as well as strategic supports.



WARSAW — Vice President Mike Pence used an American-convened conference on Middle East security to lash out at Washington’s three closest European allies on Thursday, accusing them of trying “to break American sanctions against Iran’s murderous revolutionary regime.”

Nothing better illustrates Washington’s opposition to democracy and self-determination than the blatantly public coup Washington has organized against the properly elected president of Venezuela


Fallar told lawmakers that China actively supports autocratic governments in Cuba, Nicaragua, and Venezuela, and employs predatory lending practices across the continent. He said Beijing has been instrumental in developing infrastructure such as a secret antenna located in the deserts of Patagonia.


Brian Weeden, a space policy and security analyst with the Secure World Foundation, indicated that the US military deploys antennas similar to the one in Argentina.

“Unless there is something specifically different about this, it’s a little bit of the pot calling the kettle black,” he said.

“To me, there is no specific piece of evidence other than it happens to be Chinese that signals that it is nefarious.”


The US dollar dying a thousand cuts.


More than 40 countries and international organizations, including China, Indonesia, and Israel, as well as some South American countries, have expressed interest in a free-trade deal with the EEU. The trade bloc has also held negotiations with South Korea, Egypt, and India.

Iran signed an interim agreement with the economic bloc last year, with a full-fledged agreement expected within three years.




US military scientists, hiding behind diplomatic activities, are testing artificially created viruses in Pentagon laboratories in 25 countries (countries of the former USSR (Azerbaijan, Armenia, Georgia, Kazakhstan, Moldova, Uzbekistan and Ukraine (three laboratories), Middle East, Southeast Asia and Africa ), exposing injections allegedly from dangerous pathogens and diseases to hundreds of thousands of people, and we, Kazakhstanis, have long been “guinea pigs.” If we recall the massive outbreaks of meningitis last year with fatal cases, as well as the deaths of hundreds a few saigak heads a few years ago, the emergence of foci of atypical diseases or those that have long been suppressed, then everything immediately falls into place.


I’ve always been fascinated by nuclear weapons and the self-destructive tendencies of mankind.  I discovered that as many as 400,000 American soldiers and sailors observed nuclear explosions just a few miles from ground zero in more than 200 atmospheric tests conducted between 1946 and 1962. It was difficult to get a precise count of how many men were involved, because most information was classified


Now approaching nearly a year after the April 7, 2018 alleged chemical attack in Douma, Syria — which the White House used as a pretext to bomb Syrian government facilities and bases throughout Damascus — a BBC reporter who investigated the incident on the ground has issued public statements saying the “Assad sarin attack” on Douma was indeed “staged”.


War and the end of the hegemon.


It’s curious that references to a major Asian power can be found in Bible prophecies that foretell in Revelation 16:12 that “the kings of the east” must come. Basically, this means that China is going to play a major role in the end of time event that quite possibly will be a nuclear holocaust also know WWIII.


Britain’s new aircraft carrier will be sent to China’s backyard in a show of strength as President Xi’s government increasingly disputes Pacific waters.  Meanwhile, just to make sure China is really pissed off, overnight two US warships sailed near islands claimed by China in the disputed South China Sea,


In response, Chinese Vice Premier Hu Chunhua cancelled scheduled trade talks with Britain’s finance minister Philip Hammond just “hours” after the remarks, Reuters revealed Thursday.


Japan wants Russian gas. It’s currently buying it as LNG from Yamal and shipping it via the Arctic Sea Route.


Prime Minister Shinzo Abe reiterated this position this weekend after signing a major agreement with German Chancellor Angela Merkel. At some point there is only so long you can hold countries as vassals. Their best interests eventually come to dominate the relationship.

The U.S. is feeling that now with Japan and Germany and it all because of Russia’s vast energy reserves and their ability to craft win/win relationships with everyone.


Markets & Economy


The US economy is struggling for two reasons: The scope for a powerful monetary and fiscal response is limited, and the current “leadership” under President Trump lacks the competence to adequately respond to a crisis, during an interview with Bloomberg in Dubai.


Congress should give the economy a bump. Once a slowdown begins, it will be too late.


Bill, you posted this.  What it proves is that Wall Street and Main Street are miles apart.


In the land of the Federal Reserve and its market-manipulating mechanisms, there’s now an unofficial market term called the “Powell Put” or the “Powell Pivot.”


The US equity market brushed off a sharp and surprising plunge in December retail sales, the worst since the Great Financial Crisis of 2008-2009. The numbers were so bad that analysts were tempted to dismiss them as an anomaly, although the Commerce Department insisted that the government shutdown did not affect the collection of data, and the drop occurred through most major sectors.


Markets are all rigged?


Once again, the Federal Reserve has upended markets.  Investors had been bracing for the Fed to keep raising interest rates and shrinking its vast portfolio of assets, the equivalent of tapping on the brakes of the United States economy.  But this year, the central bank has signaled that it was backing off.


Dow futs closed over 600 points higher than the overnight lows on the crappiest week’s macro-economic data in 8 years!! “Goldilocks, my ass” as one veteran trader said.




Unfortunately, there is no America. There is nothing to make great again. “America” is a fiction, a fantasy, a nostalgia that hucksters like Donald Trump (and other, marginally less buffoonish hucksters) use to sell whatever they are selling … themselves, wars, cars, whatever. What there is, in reality, instead of America, is a supranational global capitalist empire, a decentralized, interdependent network of global corporations, financial institutions, national governments, intelligence agencies, supranational governmental entities, military forces, media, and so on. If that sounds far-fetched or conspiratorial, look at what is going on in Venezuela.


In a globalized world what is an American company and to they care more about Americans than any one else?  So why is the US military, which we pay for, used as toll for these corporations?


What what about those American oil corporations? They want that Venezuelan oil, don’t they? Well, sure they do, but here’s the thing … there are no “American” oil corporations. Corporations, especially multi-billion dollar transnational corporations (e.g., Chevron, ExxonMobil, et al.) have no nationalities, nor any real allegiances, other than to their major shareholders. Chevron, for example, whose major shareholders are asset management and mutual fund companies like Black Rock, The Vanguard Group, SSgA Funds Management, Geode Capital Management, Wellington Management, and other transnational, multi-trillion dollar outfits. Do you really believe that being nominally headquartered in Boston or New York makes these companies “American,” or that Deutsche Bank is a “German” bank, or that BP is a “British” company?




“Starting my working life in a Swiss Bank in Geneva two years before Nixon’s fatal decision, I have experience of that fall of the dollar that the Chinese predicted. In 1970, there were 4.30 Swiss francs to the dollar. Today you get just under one Franc for one US$. That is a catastrophic collapse of 77% of the world’s reserve currency in almost 50 years. If we look at the graph of the dollar against the Swiss franc below, we can see that this currency pair has been in a long consolidation at the bottom since 1987.


The People’s Daily is the most influential and authoritative newspaper in China. It has been the official voice of the central government of the People’s Republic of China for the last 71 years.

The paper declared in 1971 when Nixon closed the gold window: “These unpopular measures reflect the seriousness of the US economic crisis and the decay and decline of the entire capitalist system.”


The paper further stated that the measures “mark the collapse of capitalist monetary system with the US dollar as its prop” and that “Nixon’s new economic policy cannot extricate the US from financial and economic crisis.” The article predicted instead that the measures would intensify the crisis.


Italy’s populist de facto leader Matteo Salvini seems set on shaking Europe’s financial establishment to the core.  One day after the Italian deputy prime minister and leader of the League party, called for the elimination of Italy’s central bank and the country’s financial regulator, Consob, saying the two institutions should be “reduced to zero.


So we may see negative interest rates in the US, meaning you earn more holding gold (nothing) than you do losing money in cash.


Deutsche Bank has agreed to pay nearly C$5.5 million to settle class-action lawsuits in Canada accusing the bank of manipulating the gold and silver markets, according to the Toronto law firm representing the plaintiffs.


Production of gold by South African mines retreated the most in six years in December as a strike at the nation’s top producer of the metal continued.


Gold output declined 31 percent from a year earlier, compared with a revised 14 percent drop in November, Pretoria-based Statistics South Africa said in a statement on its website Thursday.




A generation of the young with dead-end social and economic prospects, calling themselves “dirt spoons,” aimed to strike it rich. They’ve ended up with big losses.


JPMorgan Chase & Co.  (JPM – Get Report) will issue the first ever cryptocurrency by a U.S. bank, marking a significant change in tack for CEO Jamie Dimon, who once threatened to fire any employee he found trading bitcoin.