Below is a link to a video that I know you and your readers will want to watch.
Hank Phillippi Ryan, an investigative reporter at Channel 7 News in Boston, interviewed John O’Brien, the outspoken Register of the Essex Southern District Registry of Deeds in a county just north of Boston, attorney Jamie Ranney from Nantucket, and me about fraudulent documents that have been recorded in Massachusetts registries that resulted in defective foreclosures.
You may view the link at: http://www1.whdh.com/features/articles/hank/BO145706/
Over the past five (5) months, I have been examining documents recorded in John O’Brien’s registry and will issue my findings by mid-June.
This is ground-breaking work and it is going to set the “gold standard” for authenticating title to real property in the county land records.
As I said to Hank in the interview, the extent and scope of the fraud is unimaginable and shocking…even for me, which is saying a lot!
Travel safely and I look forward to speaking with you upon your return.
Marie McDonnell, President
Jim Sinclair’s Commentary
Are there any comments on John’s figures?
Using the methodology you specified in your article today, I get a target price for gold of: $15,600.
Most current TIC report: http://www.ustreas.gov/tic/mfh.txt
Total Foreign Holdings of Treasury Securities: $4,479.2 Billion
-Less : China – Mainland (1,144.9)
-Plus: 50% of China – Mainland 572.5
Adjusted Foreign Holdings of Treasury Securities $3,906.8 Billion
Number of Fine Troy Ounces held in Custody by the US Mint for the US Treasury: http://www.usmint.gov/downloads/about/annual_report/2010AnnualReport.pdf
Note to Financial Statements 6, "Custodial Gold and Silver Bullion Reserves", page 59
Statutory value @ $42.2222 per FTO $10,574,053,000
Number of FTO 250,438,229
Valuation of Gold required to equal Adjusted Foreign Holdings of Treasury Securities
Adj Fgn Holdings $3,906,800,000,000
Number of FTO Gold at US Mint 250,438,229
Gold price Valuation $15,600
CIGA John M.