In The News Today

Posted at 10:43 AM (CST) by & filed under In The News.

Dear CIGAs,

According to Dean Harry Schultz, the way to live your life involves the following:

– Money in one country
– Citizenship in a different country
– Body in another country where neither your citizenship nor money resides.

I have resisted this sage advice from Harry for many years knowing that the day might come when his genius proves true.

That day has come.

Seriously consider this advice.

Respectfully,
Jim

 

Jim Sinclair’s Commentary

Touching is good. The big girl continues to get bigger. She still will not get into a truck, spreading out all four paws in protest.

Mr. Fred sleeps like a koala bear. Ditti dislikes everybody except me, and sometimes he even doubts that.

All are fully relaxed knowing the real range for gold in 2012 will be $1700 – $2111.

QE is going to infinity. The global drag on the US will be the cause.

Fed Ex shipments are down which is not good news for the bulls on the US economy. The dollar is becoming yesterday while the Euro and Yuan are the new settlement currencies for international transactions.

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Jim Sinclair’s Commentary

These suits must settle if even on the court house steps. The financial OTC derivatives are all flawed to fraud. No OTC derivative from this period can stand the light of day

Goldman loses bid to end lawsuit over risky CDO
By Jonathan Stempel
NEW YORK | Thu Mar 22, 2012 8:17am EDT

(Reuters) – Goldman Sachs Group Inc lost its bid to dismiss a lawsuit accusing it of defrauding investors by selling risky debt linked to subprime mortgages that it planned to bet against.

The decision by U.S. District Judge Victor Marrero in New York keeps alive a hedge fund’s claims over a $2 billion offering of collateralized debt obligations, amid intense scrutiny over Goldman’s activities before and after the 2008 financial crisis.

Marrero said the hedge fund Dodona I LLC may pursue nearly all its claims against Goldman, including that the Wall Street bank recklessly or intentionally sold the Hudson Mezzanine Funding CDOs to offload subprime risk on unsuspecting investors.

“Goldman’s sudden — and prescient — shift to reducing subprime risk supports the inference that it possessed some unique insight” about the “bittersweet potion” of CDOs it was selling, Marrero wrote in a 64-page decision.

A Goldman spokesman, Michael DuVally, declined to comment. Richard Klapper, a lawyer for the bank and co-defendants Peter Ostrem and Derryl Herrick, who were Goldman structured finance executives, did not immediately return a call seeking comment.

Lawrence Lederer, a lawyer representing Dodona, called Marrero’s decision “extremely well-reasoned, measured, and very substantially supported. We are eager to ultimately try the case on behalf of our client and other investors in the Hudson CDOs.”

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Jim Sinclair’s Commentary

There is no end to debt ceiling increases in our lifetimes.

What makes you think this is just an aberration that returns to good times will cure? Who said a return to good times is a reality?

 

Jim Sinclair’s Commentary

Gold is moving towards the system, not away from it.

What is below is a way to make gold go underground in Turkey.

Turkey Targets Gold Stashes
BY YELIZ CANDEMIR AND JOE PARKINSON
Updated March 22, 2012, 9:29 a.m. ET

ISTANBUL—The Turkish government, facing a bloated current-account deficit that threatens to derail the country’s rapid expansion, is trying to persuade Turks to transfer their vast personal holdings of gold into the country’s banking system.

The push to tap into the individual gold reserves—the traditional form of savings here—is part of Ankara’s efforts to reduce a finance gap that is currently about 10% of gross domestic product.

Government officials say the banking regulator will soon publish a plan to boost incentives for consumers to park their household wealth inside the financial system. Banking executives said they are considering new interest-yielding gold-deposit …

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