In The News Today

Posted at 5:21 PM (CST) by & filed under In The News.

My Dear Friends,

I am in the process of putting together a legal team to specialize in redress concerning the strategy of "Short and Distort." There will be both lead legal counsel and attorneys at counsel.

If you know of any attorney licensed to practice in New York with a firm track record of success in fraud, common commercial practice and securities law, I would appreciate the recommendation.

Thank you,
Jim

 

Jim Sinclair’s Commentary

2.2 trillion dollar gap in retirement funds?

New rules expose bigger funding gaps for public pensions
By Michael A. Fletcher, Published: August 16

Already-strapped state and local governments are coming under increasing pressure to reduce pension benefits or increase taxpayer contributions that help pay for them because of new rules that would require them to report those obligations more honestly, advocates say.

The latest rules come on line from the bond-rating firm Moody’s at the end of this month. They are projected to triple the gap between what states and municipalities report they have in their funds and what they have promised to pay out to retirees. That hole would stand at $2.2 trillion.

For the worst-off cities, the new pension debt calculations could mean bond rating downgrades and increased borrowing costs when localities try to raise money for new projects, Moody’s has warned.

The accounting changes themselves will not force policymakers to alter how they fund pensions. But finance experts say that by simply highlighting greater funding gaps, the rules will intensify pressure on state and local governments to allocate more of taxpayers’ dollars to their pension funds. More likely, public workers may have to contribute more to their retirements or see promised benefits curtailed, measures that have already been implemented in more than 40 states.

Virginia and Maryland have cut benefits for new hires while preserving retirement packages for current employees.

“It is hard to believe that higher numbers would not put increased pressure on governments to deal with this,” said Scott D. Pattison, executive director of the National Association of State Budget Officers. “If you only have so many dollars, if you are going to put more into pensions, that means less for other things.”

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Jim Sinclair’s Commentary

A note to your investment vehicle on the direct registration system:

1. All US listed companies are required to offer direct registration.
2. There is no charge to companies anywhere to be part of direct registration.

 

Jim Sinclair’s Commentary

Here is an interesting discussion in Europe, not in Western MSM.

Germany Considers Holding EU Referendum
By Florian Gathmann and Philipp Wittrock

A bottle of liquor and a half-empty glass stand on the table next to Angela Merkel, who is studying a confidential document with a sullen expression. "How to Break Up the Euro," is the title.

That, at least, is how Britain’s Economist imagines the chancellor’s predicament these days. "Tempted, Angela?" is the headline on the cover of the current issue.

Indeed, the chancellor is in a tricky position at the moment, as she fails to get the euro crisis under control. Of course, theEconomist’s notion of a secret plan to break up the euro zone is purely fictitious. But it fits into the current debate, where more and more politicians from Germany’s coalition government are talking about radical steps to solve the euro crisis.

Officially, though, Merkel’s line is that she wants more Europe, not less. In the chancellor’s bid to save the common currency, she is willing to go to the very limits of what is permissible under the German constitution. That was made clear by her support for the permanent euro rescue fund, the European Stability Mechanism (ESM), and her pet project, the fiscal pact. But Merkel still wants more. "We need a political union," she recently said on German public television station ARD. "That means we have to give up further competencies to Europe, step by step, in an ongoing process."

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Jim Sinclair’s Commentary

The majority of CIGAs cannot be bothered with the modest work it takes to protect themselves. There is nothing I can do to change the attitude of readers. However, since I care, the following is the exact plan of what to do if your broker/clearing house/country etc. agent declares bankruptcy.

It is quite simple:

All you need to do is enter on the left red dot and exit on the right red dot. Then you MIGHT get some of your money back.

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Jim Sinclair’s Commentary

Here is an example of our planner planning for improved employment figures.

Click here to watch the video…

 

Jim Sinclair’s Commentary

The least used legal document in the United States is a warrant.

Police allowed to track cell phones in US without court warrants
Published: 18 August, 2012, 00:06

The US Circuit Court of Appeals ruled that Americans have no reasonable expectation of privacy when carrying cell phones, allowing police to track GPS signals without a warrant or probable cause.

The decision came the court ruled in United States v. Skinner that the Drug Enforcement Administration (DEA) abided by the Constitution by using a drug runner’s cellphone data to track his location and determine his identity.

Melvin Skinner, also known by his false name as “Big Foot,” was a drug mule with more than 1,100 pounds of marijuana in his Texas motorhome.

The throwaway mobile phone he was using was registered under a false name, so agents did not know the identity of the drug trafficker.

By using GPS data from his disposable phone, police learned that “Big Foot” was planning to deliver a large shipment of marijuana from Arizona to Tennessee in his mobile home.

In 2006, agents obtained a court order – but not a warrant – to track the disposable phone’s location using its GPS.

After tracing the phone’s exact location, police dogs discovered the mobile home and indicated a presence of drugs. “Big Foot” was arrested and charged for drug trafficking and conspiracy to commit money laundering.

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