In The News Today

Posted at 11:03 AM (CST) by & filed under In The News.

What matters is the determination to climb, the resistance with which the tendency to slide is met, the yearning to rise, to progress, to conquer the lower impulses and instincts. If you have that, the hidden spring of power will surge up within you.
–SSB 1959

Jim Sinclair’s Commentary

Contemplation of the gold price.

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Jim Sinclair’s Commentary

The political standard operating procedure is to remain fully intact for all economic problems. However, if you listened to financial TV, you would think every possible economic problem is fully under control. All hail to the Fed.

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Jim Sinclair’s Commentary

The way people are reacting, I am surprised there is even 5% bullishness left.

This is what lows in reactions look like.

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Jim Sinclair’s Commentary

Bloomberg is reporting that Jack Lew, presently Chief of Staff of the Administration, is being named Secretary of the US Treasury.

It is only right in our present financial world that one of the primary manufacturers and distributors of OTC derivatives should be made Secretary of the Treasury.

God help us all.

Obama Said to Name Jack Lew to Replace Geithner at Treasury
By Hans Nichols – Jan 9, 2013 8:03 AM MT

President Barack Obama plans to name White House Chief of Staff Jack Lew tomorrow as his choice for Treasury secretary, replacing Timothy F. Geithner, a person familiar with the process said.

Lew, 57, who also has served as director of the Office of Management and Budget, has been offered the Treasury post by Obama, according to the person, who asked for anonymity to discuss personnel matters.

Geithner, 51, the only remaining member of Obama’s original economic team, has told White House officials he doesn’t’ want to serve in a second term and intends to leave the job by the end of the month.

Lew’s nomination as Treasury secretary is subject to confirmation by the Senate.

The next Treasury secretary will play a leading role in working with Congress to raise the government’s $16.4 trillion debt ceiling. The U.S. reached the statutory limit on Dec. 31, and the Treasury Department began using extraordinary measures to finance the government. It will exhaust that avenue as early as mid-February, the Congressional Budget Office says.

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