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 11:09 AM (CST) by & filed under In The News.

Jim Sinclair’s Commentary

Mr. Williams share with us the REAL numbers.

– U.S. Economy and Markets Are Transitioning, and It Is Not Good News
– Excessive FOMC Rate Hikes and Tightening of the Last Year Have Pushed the Economy to the Brink of a New Recession, Exacerbated by the Shutdown
– Headline Back-to-Back First- and Second-Quarter 2019 GDP Contractions Likely Follow Still-Pending Reporting of Sharply Slowing Fourth-Quarter 2018 GDP; Consider Plunging Retail Sales, Production, Manufacturing and Freight Activity
– Unprecedented in 100 Years of Reported U.S. Manufacturing Activity, December 2018 Marked a Record Eleven Full Years of Economic Non-Expansion
– January 2019 Monetary Base Suffered Its Steepest Annual Decline Since Triggering the Second Down-Leg of the Great Depression
– Income Dispersion Worst Since Before the 1929 Stock Crash and Great Depression
– With a Tanking Economy, the Stock-Market Sell-Off Is Far from Finished; Political Discord in Washington Should Exacerbate and Intensify Market Instabilities
– Does This Concern the FOMC and Government Policy Makers? It Should!
– Driven by Energy Prices, 2018 Annual Inflation Measures Hit Multi-Year Highs, Not Driven by the FOMC Rate-Hike Canard of an Overheating Economy
– Time for Congress to Revisit the Concept of the Federal Reserve?
– U.S. Treasury Fiscal Operations Are Not Sustainable, Threatening Ultimate Financial-Market and U.S. Dollar Turmoil 

No. 983a: Updated ALERT, Advance Economic and Financial-Market 2018-2019 Review and Preview

www.shadowstats.com

Bill Holter’s Commentary

This unfortunately is correct…

Posted at 3:39 PM (CST) by & filed under General Editorial.

Dear readers,

As I had expected and published to you, the leadership of Tanzania

is truly anti-corruption, reasonable minded and pro free market business in a mutually fair setting.

My sincere congratulations to the leadership of Tanzania and of Barrack Gold on this extremely important step forward.

Jim Sinclair
Executive Chairman
j.sinclair@tanzanianroyalty.com

 

TZ, Barrick Agree On Plan To Settle Acacia Dispute
February 20 2019

Tanzanian President John Magufuli with Barrick Gold’s chief operating officer for Africa and Middle East Mr Willem Jacobs at State House Dar es Salaam on February 20, 2019. PHOTO | TANZANIAN PRESIDENCY 

Tanzanian authorities and Canadian miner Barrick Gold say they have worked out a plan to settle the disputes between the government and Acacia Mining Plc.

The announcement followed a meeting between President John Magufuli and Barrick’s chief operating officer for Africa and Middle East Mr Willem Jacobs at State House Dar es Salaam on Wednesday.

“Everything is all set, we are now ready to move on,” Tanzania’s Legal Affairs minister Mr Palamagamba Kabudi said, adding that the implementation is set to begin before end of March.

London-listed Acacia has been engaged in a longstanding row with Tanzania over tax evasion, breach of environmental regulations, among other issues.

In October 2017, Barrick, which holds a 63.9 percent stake in Acacia, agreed to a $300 million payment to resolve the tax claims, set up a local operating firm in Tanzania, and share Acacia’s economic benefits with the government on a 50-50 basis.

Acacia has three mines in northern Tanzania – Bulyanhulu, Buzwagi and North Mara.

“Significant amounts of real value have been destroyed by this dispute and, in Barrick’s view, this proposal will allow the business to focus on rebuilding its mining operations in partnership with their respective stakeholders,” Barrick said in a statement.

The detailed proposal between Barrick and Tanzania will be presented to Acacia, which has independent directors.

More…

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

Courtesy of JB.

Jim

 

 

 

 

 

 

 

 

 

 

Jim,

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.

Dave

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.

More…

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.

More…

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

More…

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…

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

Jim,

Divide and conquer works ever time throughout history.

Dave

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. https://www.paulcraigroberts.org/2019/02/07/was-sammy-davis-jr-a-self-hating-black/

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: https://www.youtube.com/watch?v=ve1z48hljYY

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Wolfgang,

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

Best,

Bill

Jim/Bill,

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).

More…