Posted at 9:52 AM (CST) by & filed under Bill Holter.

Bill forecasted 2017 as “the year of the truth bomb” which looks to be happening in spades.  As year end approaches we ask for your help in compiling a list of events to be filed under the “truth bomb” category.  We ask that between now and year end you send Bill whatever you believe to be a truth bomb (with a link to story if possible) at

Please title your e-mail “2017 Truth Bomb” so it will be easily recognizable to archive.

Bill will use this list for a year end article the last week of the year.

Thank you in advance for your help and efforts!

Posted at 11:12 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

The missing $21 Trillion…

$21 Trillion Dollars Is Missing From The US Government. That Is $65,000 For Every Person In America. That Is More Than Our Entire National Debt!

What’s going on? Where is the money? How could this happen? How much has really gone missing? What would happen if a corporation failed to pass an audit like this? Or a taxpayer?

This means the Fed and their member banks are transacting government money outside the law. So are the corporate contractors that run the payment systems. So are the Wall Street firms who are selling government securities without full disclosure. Would your banks continue to handle your bank account if you behaved like this? Would your investors continue to buy your securities if you behaved like this? Would your accountant be silent?

This is the reason that there is such a strong push to change or tear up the US Constitution. This is why members of the establishment say it is “old,” “outdated!” This is why there is such a push for gun control. Don’t buy it! We can use the Constitution to get our money and our government back. It is time to enforce the US Constitution.


Bill Holter’s Commentary

I didn’t realize the United Nations had jurisdiction in Chicago?

Boykin Asks United Nations For Help Fighting Chicago Violence

December 14, 2017

CHICAGO (WLS) — Cook County Commissioner Richard Boykin headed to the United Nations in New York Thursday to ask for help fighting violence in Chicago.

“I’m hoping to appeal the UN to actually come to Chicago and meet with victims of violence and maybe even possibly help out in terms of peace keeping efforts,” Boykin said.

Boykin boarded a plane to New York City for a meeting with an Assistant Secretary General of the United Nations. It’s a meeting that’s been planned for more than a month and stems from disconcerting violence numbers seen this year in Chicago. Violence which is felt particularly hard in many African American communities.

“We’ve had over 600 people killed by gun violence already this year alone. That is a huge number, in my community of Austin we’ve had 450 people shot and 80 people killed this year alone 18 so we have to do more to protect these communities,” Boykin said.

The mayor’s office says the call for UN peacekeepers is a political stunt. The police superintendent said it’s a nice idea, but it’s not the answer to Chicago’s violence.


Posted at 1:17 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

Weekend comedy from the Boston Globe.  Our fiscal situation mathematically will blow up yet we are told all is well!

With Interest Rates Low, Facts Don’t Justify Panic Over National Debt
December 15, 2017

You’ve heard the fearmongering. America is broke. Government debt already is measured in tens of trillions of dollars and will soon be as big as our entire economy. To top it off, Republicans are poised to pass a tax bill that will add at least another trillion in red ink.

In lieu of panic, though, maybe the more appropriate response is just to shrug. Sure, someday the government’s oversized debt load may get us into trouble. But right now, the situation seems manageable.

Month by month, and year by year, the debt doesn’t actually cost that much. We have interest payments to make — just like the interest you pay on your mortgage or student loans — but those bills are relatively small, and stable.

Which is not to say we should adopt a breezy attitude toward government spending, where Republicans pass giant tax cuts, Democrats pursue Medicare for all, and we pay for it with bottomless borrowing. At some point, there would be a reckoning.


Bill Holter’s Commentary

If you recall, this is exactly what our pal Dave (in the witness protection program) told us was going to happen during one of our weekly calls after the hurricanes hit.  “No income equals foreclosure” is what he told us.

The Next Crisis for Puerto Rico: A Crush of Foreclosures
December 16, 2017

Puerto Rico has had an awful decade — and it’s about to get worse.

First came a brutal 10-year recession and financial crisis that drove businesses from this island and left 44 percent of the population impoverished. Then, in September, Hurricane Maria, a powerful Category 4 storm, shredded buildings, wrecked the electrical power grid and possibly led to more than 1,000 deaths.

Now Puerto Rico is bracing for another blow: a housing meltdown that could far surpass the worst of the foreclosure crisis that devastated Phoenix, Las Vegas, Southern California and South Florida in the past decade. If the current numbers hold, Puerto Rico is headed for a foreclosure epidemic that could rival what happened in Detroit, where abandoned homes became almost as plentiful as occupied ones.

About one-third of the island’s 425,000 homeowners are behind on their mortgage payments to banks and Wall Street firms that previously bought up distressed mortgages. Tens of thousands have not made payments for months. Some 90,000 borrowers became delinquent as a consequence of Hurricane Maria, according to Black Knight Inc., a data firm formerly known as Black Knight Financial Services.

Puerto Rico’s 35 percent foreclosure and delinquency rate is more than double the 14.4 percent national rate during the depths of the housing implosion in January 2010. And there is no prospect of the problem’s solving itself or quickly.

“If there is no income, the people cannot make payments,” said Ricardo Ramos-González, coordinator of a consumer legal aid clinic at the University of Puerto Rico School of Law. “Thousands have lost their jobs, thousands of small business have closed, and thousands more have left the country.”


Bill Holter’s Commentary

Yet “all is well”?

Metlife Says It Failed To Pay Some Pensions, Flags Hit To Reserves
December 16, 2017

NEW YORK (Reuters) – Metlife Inc (MET.N) failed to pay pensions to potentially tens of thousands of people and will have to strengthen its reserves because of the costs of finding and repaying them, the New York insurer said. Metlife said in a filing on Friday that it believed the group missing out on the payments represented less than 5 percent of about 600,000 people who receive benefits from the company via its retirement business. Those affected generally have average benefits of less than $150 a month, it said.

A MetLife Inc building is shown in Irvine, California, U.S., January 24, 2017. REUTERS/Mike Blake

When taken, however, the increase to reserves could be material to Metlife’s financial results. The insurer said it would provide further disclosure on its fourth-quarter earnings call and in its annual report for 2017.

MetLife did not say how many years of missing income was owed.

The people who missed out on the payments have changed jobs, relocated or are otherwise unreachable based on currently available information, the company said, adding that it was widening its search efforts and making better use of technology.


Bill Holter’s Commentary

Please note, the second listed donor is the late Mr. Sherman’s company…And another one bites the dust?

Canadian Billionaire, Wife, Found Dead In “Suspicious” Suicide
December 16, 2017

The billionaire founder of Canadian generic drug Apotex Inc, Barry Sherman, and his wife Honey, were found dead in their Toronto home on Friday under what police described as “suspicious” circumstances.
Honey and Barry Sherman

Police said they were investigating the mysterious deaths after responding to a midday medical call at the Sherman’s home in an affluent section of northeast Toronto. Two bodies covered in blankets were removed from the home and loaded into an unmarked van on Friday evening.

“The circumstances of their death appear suspicious and we are treating it that way,” said Constable David Hopkinson. Homicide detectives later told reporters gathered outside the home that there were no signs of forced entry, and no suspects were being sought as of this moment.


Dispensing Hope: Transforming US Medicine Surplus

In 2014, Mindset Social Innovation Foundation, and its partners, committed to expand access to affordable prescription medications in the U.S. Mindset has developed a five-year plan with the Dispensary of Hope that will enable the organization to receive over $100 million of donated medicine per year and distribute this medicine through hospital-based and community-charitable pharmacies that will deliver impact to more than 1.2 million people over the next 5 years.


Posted at 1:15 PM (CST) by & filed under Jim's Mailbox.

The time has come to begin the splash of the many private crypto currencies, so as to give birth in time to a single crypto, which is only tradable between central banks as a new reserve currency to replace a dethroned dollar. Courtesy of JB.


U.S. Top Diplomat Calls For Release Of Two Reporters Arrested In Myanmar
December 15, 2017

UNITED NATIONS (Reuters) – U.S. Secretary of State Rex Tillerson said on Friday that the U.S. government has demanded the release of two Reuters reporters being held in Myanmar.

Reuters journalist Wa Lone, who is based in Myanmar, is seen in this undated picture taken in Myanmar. REUTERS/Stringer

“Our local representatives at the mission in Myanmar, at the embassy, are expressing our concerns over the detention of individuals, demanding their immediate release or information as to the circumstances around their disappearance,” Tillerson told reporters.

Myanmar’s information ministry said on Wednesday that the reporters faced charges under the British colonial-era Official Secrets Act, though officials have since said they have not been charged.


Posted at 12:37 AM (CST) by & filed under Jim's Mailbox.

Bill Holter’s Commentary

Courtesy of JB.


Courtesy of JB.


Arrested Saudi Prince’s Business Empire Apparently Collapsing
December 13, 2017

The Kingdom Holding Company, founded by Prince Alwaleed bin Talal, has lost nearly a fifth of its value since its billionaire owner was detained last month as part of a Saudi nationwide anti-corruption campaign.

According to Forbes, the value of the Riyadh-based conglomerate fell $8.5 billion, shrinking the tycoon’s net worth by two billion dollars to $16 billion. Prince Alwaleed reportedly owns 95 percent of Kingdom Holding.

The company has more than $12.5 billion under management globally and “enjoys a solid financial position underpinned by a prudent and conservative funding plan,” according to the chief executive Talal Al Maiman.

However, any meaningful activity by the corporation has been halted in Alwaleed’s absence, according to unnamed Saudi bankers, as quoted by the FT. Local and international banks are so concerned over the arrest that they reportedly put on hold one billion dollars in loans to fund the acquisition of a 16 percent stake in Saudi Fransi Bank from Credit Agricole, planned by KHC.



Posted at 11:28 AM (CST) by & filed under In The News.

Jim Sinclair’s Commentary

The latest from John Williams’

– Unable to Escape 2008, FOMC Boosted Rates a Quarter-Point, Nonetheless, Amidst Fed Projections of Lower Unemployment and a Stronger GDP
– Yet, Fundamentals Still Point to a Weaker Economy as Fed Chair Janet Yellen Described the Economic Outlook as “Highly Uncertain”
– Prospects for U.S. Economic and Financial-Market Activity Continued to Darken; Faltering Real Consumer Credit and Earnings Do Not Support the Purported Boom
– Amidst Downside Prior-Period Revisions, Fourth-Quarter 2017 Real Average Weekly Earnings Were on Track for Second Consecutive Quarterly Contraction
– Monthly and Annual Jumps in CPI and PPI Were Due to Gasoline Price Swings; Headline Inflation Gains Were Not Due to Strong or Over-Heating Economic Activity
– November 2017 CPI-U Monthly Inflation Jumped by 0.39% (Was 0.11%) Pulling Annual CPI-U Inflation Higher to 2.20% (Was 2.04%), with CPI-W at 2.32% (Was 2.06%) and ShadowStats at 9.9% (Was 9.8%)
– November 2017 Final-Demand PPI Inflation Monthly Gain of 0.44% Pulled Annual Gain to a 70-Month High of 3.07%, versus 2.79% in October 2017
– Continuing Monthly Jump of 0.44% in November PPI was Dominated by Gain of 0.98% in Goods Inflation (4.63% Energy Gain), Versus Gain of 0.17% in Services
– Inflation Will Soften November Real Retail Sales Growth versus Nominal Growth by 0.4% (-0.4%) Month-to-Month, 2.2% (-2.2%) Year-to-Year

“No. 925: November CPI and PPI Inflation, FOMC ”

Bill Holter’s Commentary

A two minute article by Zerohedge proclaiming stocks no longer “cheap” in relation to bonds.  My simple question is this, what does this really mean in the grand scheme of things if interest rates are basically at 5,000 year lows …which means “bonds” are at a 5,000 year high?  Ponder this very carefully because it is key to your understanding and thus financial survival!

TINA’s Dead – US Equities Are No Longer ‘Cheap’ To Bonds
December 14, 2017

For almost 7 years, asset-gatherers and commission-takers have exclaimed “There Is No Alternative” to stocks, given how low interest rates are. However, given the recent buying-panic in stocks, TINA is now dead BAB is back (Bonds Are Better)…

In a sign the U.S. equity rally may be looking stretched, Bloomberg notes that the forward dividend yield on the S&P 500 has dropped below the return on Treasuries for the first time since 2011.

Shares in Europe and Japan, by contrast, continue to yield well above their equivalent government bonds.

Here’s what happened the last time the spread between Forward dividend yields and treasury yields was this wide…

To make matters worse for income investors: the Bank for International Settlements warned in its recent quarterly review that U.S. stock valuations are looking “frothy” and dividend growth may slow.


Bill Holter’s Commentary

Just another confidence builder…

Head of Congressional Ethics Office Sued for Abusing Position, Accused of Assaulting Women
December 14, 2017

A top congressional ethics official who oversees investigations into misconduct by lawmakers is accused in a federal lawsuit of verbally abusing and physically assaulting women and using his federal position to influence local law enforcement, according to a complaint filed in a federal court in Pennsylvania last month.

The ongoing lawsuit against Omar Ashmawy, staff director and chief counsel of the Office of Congressional Ethics, stems from his involvement in a late-night brawl in 2015 in Milford, Pennsylvania, and includes a range of allegations relating to his behavior that evening and in the following two-and-half years.

Ashmawy’s office conducts the preliminary investigations into allegations of misconduct in the House of Representatives, deciding which cases to pursue or refer to the Committee on Ethics. He is named in congressional documents as the official who presented one of the investigations into John Conyers, the Democratic lawmaker from Michigan accused of sexual harassment, to the ethics committee for further action.

Among other allegations, Ashmawy is accused in the lawsuit of “threatening to use his position as staff director and chief counsel of the Office of Congressional Ethics to induce a criminal proceeding to be brought against Plaintiff and/or others,” according to the federal lawsuit filed against him.

In court filings and in statements to Foreign Policy, Ashmawy denied the allegations laid out in the lawsuit.

“To be clear, I did not harass anyone that evening, physically or verbally,” he wrote in a statement to FP. “To the contrary, I was the victim of a wholly unprovoked assault for which those responsible were investigated, arrested and charged. Any allegation to the contrary is unequivocally false.”

The lawsuit, previously unreported, stems from Feb. 14, 2015 — Valentine’s Day. The evening appeared to start off well for Ashmawy: a nearly $400 dinner with his girlfriend at an upscale restaurant in Milford, followed by late-night drinks at a local bar.

It ended, however, with him bruised and bloody in the back of a police car.


Bill Holter’s Commentary

Quite interesting and well worth watching. I have a few questions; 1996? And they needed a “platform” (such as the internet)? Does it really matter “who” created Bitcoin et al? And if it does, who is “Satoshi”? What if the creator really is an agency like the NSA? Would that matter to you? On a side note, do you remember the Winklevoss twins? What were they involved in, in the past? Can you imagine the elation of the German Stasi if they had a system where people would willingly and even anxiously divulge personal information as they do with Facebook today? Can you imagine the smiles on their faces if they could have “tracked” every single penny (mark) bought, sold, spent, or accepted? How, all the way back to 1988 did the Economist magazine forecast 2018 as the year of a global currency with the similar image to a bitcon on their cover? Do you smell what I smell? Please watch this with these questions in the back of your mind…

Posted at 11:47 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

Mortgaging their houses because a “crypto kitty” at $122,000 is more than pocket change?

People Mortgaging Their Homes To Buy Bitcoin, Report Says
December 12, 2017

CBS Local — How much would you put at risk to invest in the hottest digital currency in the world? For some people, the skyrocketing value of Bitcoin is worth putting their own homes at stake.

According to reports, a number of investors looking to cash in on the soaring prices have resorted to putting their houses up as collateral to fund the venture.

“We’ve seen mortgages being taken out to buy bitcoin. People do credit cards, equity lines,” Joseph Borg of North American Securities Administrators Association said, via Business Insider.

The president of the securities firm added that he believes the risks outweigh the rewards tied to the popular cryptocurrency. “This is not something a guy who’s making $100,000 a year, who’s got a mortgage and two kids in college ought to be invested in.”


Posted at 11:39 AM (CST) by & filed under Jim's Mailbox.

Courtesy of GG.


ISIS Jihadis Have Left Syria And Are Heading Back To Europe To Mount Terror Attacks, Says Captured Militant
December 12, 2017

A former Islamic State militant captured after the fall of Raqqa says that jihadist fighters have left Syria intending to travel to Europe to launch attacks. 

Saddam al-Hamadi, 26, was arrested by Turkish security forces last month after exploiting an evacuation deal designed to free civilians. 

He was detained as he reached the Turkey-Syria border. 

But the ex-ISIS fighter has warned that extremists planned to use the chaos of the fall of Raqqa to travel to Europe.

A threat issued by Islamic State on its channels showing a bloodied knife with the Eiffel Tower and a Christmas market in the background and the caption, ‘Soon in your holidays’