Jim Sinclair’s Commentary
CIGA Rusty Bayonet says; "If it moves or dies, securitize it. LOL"
Seriously, these guys will not be stopped, cannot be stopped. They will not be satisfied until they have destroyed every semblance of normal markets. Now they profit openly on DEATH.
Now that they have created need, what alternatives do seniors have? Green Hornet joins Rusty Bayonet in total shock at how low Wall Street has fallen. China has the only solution.
Sep 6, 2009, 4:48 p.m. EST
‘Life settlements’ bonds could be Wall Street’s next big act
SAN FRANCISCO (MarketWatch) – Wall Street is developing a product that packages life-insurance policies into investable bonds, and the plan already is generating controversy, according to a media report Sunday.
Investment banks expect to buy life insurance policies that ill and elderly people sell for cash, then package hundreds or thousands of them into bonds. Institutional and other buyers would be the primary buyers of these bonds, receiving a payout when people with the insurance die, the New York Times reported in its online edition.
With $26 trillion of life insurance policies in force in the U.S., the market for these "life settlements" bonds could be immense, the Times said.
Investment banks stand to profit from the creation, sale and trading of the bonds.
Wall Street has been searching for a product to replace the once-lucrative mortgage business, and life settlements policies are being seen as the answer, the Times said.
The article cited industry predictions that the market for the bonds could reach $500 billion. It noted that Credit Suisse Group , for example, bought a firm that originates life settlements and has dedicated efforts to structuring deals and selling the bonds.
Jim Sinclair’s Commentary
For many reasons it is all happening in the space of time and at the price we have discussed for many years. As Wall Street discovers how to securitize DEATH, gold is your key to maintaining your standard of life.The dollar will suffer the karma of its kings, the Wall Street and Bankster demons. These awful people are truly the dark side.
Mon, Sep 07, 2009, 01:53 GMT
Dubai in bilateral gold rush with China
06 September 2009
Emirate targets export and investment driven demand amid flourishing bilateral ties – China to debut at Dubai International Jewellery Week
Dubai’s gold traders are increasingly targeting China as global volatility hits domestic consumer demand. The ‘City of Gold’ has been quick to bolster its commercial ties with the republic given China was the world’s largest gold producer, second-largest consumer and fifth-largest holder of reserves in 2008.
Dubai Multi Commodities Centre’s (DMCC) gold trade through Dubai topped $14.69 billion in the first half of 2009, a 12% increase on 2008. A total of 300 tonnes of gold was imported, a 13% increase, while exports grew 19% to reach 213 tonnes.
At present Switzerland and Iran are Dubai’s top gold importers, but trading opportunities with China are growing due to an increasingly liberalised and competitive retail market and range of two-way initiatives.
"China is our best bet right now," said Harendra Kailath, director for gold at the DMCC. "I would say that China has the highest demand for gold and this will help jewellers in the UAE make up for the losses they may have seen in the local market."