In The News Today

Posted at 12:39 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

And now for the heinous reactions…This is a sickness that spreads our nation, the ignorance and hate is incalculable. As I asked yesterday regarding the NY Times, what would have been the reaction if the situation were reversed? Can you not see civil war as the most logical result?

Left-Wing Twitter Celebrates Shooting of Rep. Scalise [UPDATED]
June 14, 2017

No sooner did news break that a gunman shot Rep. Steve Scalise (R-La.) were left-wing Twitter users celebrating the attack — in which two Capitol Police were also shot, as well as a congressional staffer, and possibly more.

Activist and media personality, Tariq Nasheed, appeared to indicate support for the shooting on Twitter:

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Bill Holter’s Commentary

Another visual for you. China’s liquidity is now “growing” (actually shrinking?) at the lowest level in over 20 years. Please remember this, ALL Ponzi schemes must grow, and GROW exponentially over time to survive. The Chinese are well aware of this and why they have stocked up on real money (gold) over these past years. Could it be “they” are pulling the plug and will end up with all the marbles (gold and infrastructure)? The Chinese are very smart people and know history as well as anyone, Mao called it correctly on August 15, 1971!

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Jim Sinclair’s Commentary

You know they might really believe in their own propaganda. In this case all is lost!

Fed Hikes Interest Rates Despite Declining Inflation, Sets Plan For Balance Sheet Reduction
June 14, 2017

The Federal Reserve approved its second rate hike of 2017 even amid expectations that inflation is running well below the central bank’s target.

In addition, the Fed provided more detail on how it will unwind its $4.5 trillion balance sheet, or portfolio of bonds that includes Treasurys, mortgage-backed securities and government agency debt.

As financial markets had anticipated, the policymaking Federal Open Market Committee increased its benchmark target a quarter point. The new range will be 1 percent to 1.25 percent for a rate that currently is 0.91 percent.

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Jim Sinclair’s Commentary

If this was not written by Simon Black, I would not even be in this set of circumstances to believe or reprint it.

Anyone interested in a nice deposit of gold in Africa which actually looks politically more solid than the USA?

You Won’t Believe This Stupid New Law Against Cash And Bitcoin
June 14, 2017

This one is almost too ridiculous to believe.

Recently a new bill was introduced on the floor of the US Senate entitled, pleasantly,

“Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017.”

You can probably already guess its contents.

Cash is evil.

Bitcoin is evil.

Now they’ve gone so far to include prepaid mobile phones, retail gift vouchers, or even electronic coupons. Evil, evil, and evil.

These people are certifiably insane.

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Jim Sinclair’s Commentary

Madness, total madness. This is the 1930s all over again, insuring that the US and world economies will be in the “out house” for a considerable period of time. This may be the rest of my life.

10-Year Treasuries Break Key Trendline As Yield Curve Collapses
June 14, 2017

10-year US Treasury yields just broke to 2.10% for the first time since November 10th, and more importantly tumbling through a key trendline support from a year ago…

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Sending the yield curve near cycle flats…

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Jim Sinclair’s Commentary

Come on now. This chapter of financial history needs its own Tulip Craze. Be fair.

Bundesbank’s Weidmann: Digital Currencies Will Make The Next Crisis Worse
June 14, 2017

When global financial markets crash, it won’t be just “Trump’s fault” (and perhaps the quants and HFTs who switch from BTFD to STFR ) to keep the heat away from the Fed and central banks for blowing the biggest asset bubble in history: according to the head of the German central bank, Jens Weidmann, another “pre-crash” culprit emerged after he warned that digital currencies such as bitcoin would worsen the next financial crisis.

As the FT reports, speaking in Frankfurt on Wednesday the Bundesbank’s president acknowledged the creation of an official digital currency by a central bank would assure the public that their money was safe. However, he warned that this could come at the expense of private banks’ ability to survive bank runs and financial panics.

As Citigroup’s Hans Lorenzen showed yesterday, as a result of the global liquidity glut, which has pushed conventional assets to all time highs, a tangent has been a scramble for “alternatives” and resulted in the creation and dramatic rise of countless digital currencies such as Bitcoin and Ethereum. Citi effectively blamed the central banks for the cryptocoin phenomenon.

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Jim Sinclair’s Commentary

Barrack did it again! You have to love his consistency.

Barrick Meets With Government of Tanzania to Commence Negotiations
June 14, 2017

Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (“Barrick” or the “Company”) Executive Chairman John L. Thornton met today with the President of the United Republic of Tanzania, His Excellency Dr. John P. Magufuli, to discuss issues pertaining to Acacia Mining plc (“Acacia”), and the country’s current ban on mineral concentrate exports.

The meeting was constructive and open, with the parties agreeing to enter into negotiations to seek a resolution that is in the best interests of all stakeholders, including Tanzania, Barrick, and Acacia.

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Jim Sinclair’s Commentary

There is a very simple answer to that question. YES says JES & Free Gold.

Is The Global Gold Price Really Headed To A Jaw-Dropping $20,000 – $150,000?
June 13, 2017

June 14 (King World News) – Despite having been officially outlawed as money decades ago, gold still remains the primary monetary reserve asset of all major central banks. Based on our remarks in this report and the 10 preceding reports, it should be clear that we believe that gold must be regarded as a monetary asset.

We first presented the so-called “shadow gold price” calculated by Paul Brodsky and Lee Quaintance in 2011. This way of looking at the gold price is by no means a mere intellectual game. Rather, it is in line with how the exchange rate between paper money and gold was determined according to the Bretton Woods agreement (US monetary base divided by US gold reserves). As Brodsky and Quaintance explain:

“The Shadow Gold Price extrapolates forward the Bretton Woods model for valuing US dollars (USD base money/US official gold holdings), used from 1945 to 1973. Rather than fixing the gold/USD exchange rate (at 1/35 of an ounce, which assumed a static quantity of base money), it uses the actual quantity of base money vs. actual gold holdings.

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