In The News Today

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Jim Sinclair’s Commentary

You think the problem is limited to the Western world?

Bill Holter’s Commentary

I don’t even know what to say about this one? How about…it takes one to know one?

Pope Francis Compares Vatican Whistleblower to Satan
September 11, 2018

Satan, the “Great Accuser,” has been unleashed against the bishops of the Church, Pope Francis said Tuesday, in a thinly veiled reference to the former Vatican nuncio to the United States.

The former nuncio, Archbishop Carlo Maria Viganò, recently accused a number of prelates of dereliction of duty in dealing with clerical sex abuse and claimed that the pope had rehabilitated serial abuser Cardinal Theodore McCarrick, elevating him to a position of influence despite knowledge of his misdeeds.

In an 11-page testimony published on August 25, Viganò alleged that he had personally informed Pope Francis in 2013 of the serial homosexual abuse perpetrated by Cardinal McCarrick, along with sanctions imposed on his ministry by Pope Benedict XVI, and yet the pope lifted those sanctions and involved McCarrick in the naming of future bishops.

“The Great Accuser, as he himself tells God in the first chapter of the Book of Job, roams around the earth looking for someone to accuse,” Francis said in his morning homily at Mass in the chapel of the Santa Marta residence in the Vatican.


Jim Sinclair’s Commentary

Every step forward for the Yuan is a step backwards for the dollar. The only positive dollar item is the Synthetic Dollar Short. That has no meaningful legs.

Russia’s Wealth Fund Boosting Ruble-Yuan Trade With China To Substitute US Dollar
September 12, 2018

 Moscow and Beijing are increasing the share of trade in local currencies, Russian Direct Investment Fund (RDIF) head Kirill Dmitriev said on Wednesday at the Eastern Economic Forum (EEF) in Vladivostok.

“The first deals will be [conducted in national currencies] in the beginning of the next year. We have an agreement with the China Development Bank on a large fund in Chinese yuan worth $10 billion,” Dmitriev said.

The two countries are seeking to reduce the share of US dollars in trade. Russia and China expect trade to hit $100 billion this year, with prospects of reaching $200 billion in the mid-term.

“Recently, we have launched a regional fund in Chinese yuan jointly with the Heilongjiang province. It has already started examining projects and we expect [the] first investment in the near future,” Dmitriev added.

China is Russia’s largest trading partner, accounting for 15 percent of Russian international trade last year. Bilateral trade increased by 31.5 percent in 2017, reaching $87 billion.

According to the Russian Central Bank, both Russian and Chinese companies are willing to pay in ruble and renminbi, and this can be backed by real numbers. Last year, nine percent of payments for supplies from Russia to China were made in rubles, the regulator told RT in June.


Jim Sinclair’s Commentary

The third world war is economic and is on now.

America’s $20 Trillion Debt Makes US Dollar A Risky Asset – Putin
September 12, 2018

There is a global trend among countries reducing the share of the dollar in international settlements, Russian President Vladimir Putin said at the Eastern Economic Forum in Vladivostok.

“Given what we are facing when paying in dollars, more and more countries have the desire to trade in their national currencies,” Putin said Wednesday.

“Moreover, it is right for financial sustainability to develop bilateral trade in national currencies. We will move towards this gradually,” he added.

The Russian president noted that there are risks in settlements in national currencies, but they could be minimized. “Risks exist everywhere and they need to be minimized, and in order to minimize them diversification is required.”

According to Putin, the US dollar is also a risky financial tool. “US foreign debt amounts to $20 trillion. What will be next? Who knows?”

Putin added that Russia is diversifying its foreign reserves and public debt. “All this creates the stability of our financial system,” he said.

Russia has been dumping US debt securities in recent months. The latest data from the US Treasury shows that Russia’s share hit an 11-year minimum and totaled only $14.9 billion. Russia held $96.1 billion in US Treasuries in March. In 2010, Russia was among the top 10 holders of US Treasuries at $176.3 billion.

Meanwhile, Russia’s gold holdings have been steadily increasing, bringing its share of the precious metal to its highest level in nearly two decades – almost 2,200 tons.


Jim Sinclair’s Commentary

I guess India’s politicians dropped the idea of raiding the “Golden Temple” in order not to start a war with their citizens.

India Getting Rid Of US Treasury Securities And Buying Gold
September 6, 2018

 The world’s second biggest gold consumer continues to replenish its bullion reserves, a Reserve Bank of India (RBI) report shows. At the same time, New Delhi is slowly but surely reducing its share of US debt bonds.

The annual report from the Indian financial regulator reveals that the country followed other BRICS partners in adding physical gold to its foreign exchange reserves. The RBI reportedly bought 8.46 metric tons of gold during the last fiscal year ending in March.

As of the end of June, the country’s central bank held 566.23 metric tons of gold against 557.77 metric tons a year ago. The RBI purchased gold for the first time in nearly a decade. The regulator acquired 200 metric tons of the precious metal in 2009 shortly after the global financial crisis.

According to the RBI, India’s international reserves rose by five percent from June 2017 to June 2018 in comparison to the 6.3 percent growth seen in the same period in the previous year.

“Diversification of India’s Foreign Currency Assets continued during the year with attention being ascribed to risk management, including cybersecurity risk. The gold portfolio has also been activated,” the report added.