In The News Today

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Bill Holter’s Commentary

Sadly this is true…


Bill Holter’s Commentary

We have told you many times “it is all about credit”. We also see it as this hedge fund manager does. Watch what happens when liquidity dries up…!

Hedge Fund Manager Stakes Own Cash on a Bet Against Credit ETFs
November 5, 2018

After quitting his job at a $7 billion hedge fund to go it alone three years ago, Adam Schwartz happened upon a short so certain he built a notional position amounting to half his fledgling firm’s assets on it.

He’s been borrowing shares and stockpiling bearish options on exchange-traded funds that track major credit indexes, confident that a blow-up in fixed income will hit these passive vehicles the hardest.

Schwartz reckons it’s only a matter of time before rising rates choke off financing for highly leveraged companies, spurring a wave of bond defaults.

But running a hedge fund with mostly his own cash has given the 39-year-old freedom to bet on more extreme scenarios, like the one where credit ETFs — which have vaulted to prominence promising liquidity comparable to stocks — perish in the bloodbath.


BREAKING: Republic Metals Corporation (Gold & Silver Refiner/Private Mint) Files For Bankruptcy
November 5, 2018

ne of the largest gold and silver refineries in the world filed for Chapter 11 Bankruptcy in Federal Court on Friday. Here are the details…

Republic Metals Corporation has filed for bankruptcy.

Represented by Donlin Recano, we learn that Chapter 11 was filed in United States Bankruptcy Court, Southern District of New York on Friday, November 2, 2018:















Jim Sinclair’s Commentary

And now it’s time for the prosecution to look into the falseness of it all.

Senate Judiciary Committee Releases Full Brett Kavanaugh Report: ‘No Evidence’ To Back Sexual Assault Claims
November 04, 2018

The Republican-controlled Senate Judiciary Committee released a report late Saturday night that it said completely exonerates Brett Kavanaugh from “numerous allegations” of sexual misconduct.

“This was a serious and thorough investigation that left no stone unturned in our pursuit of the facts,” wrote committee Chairman Sen. Chuck Grassley, R-Iowa, in a statement about the 414-page report. “In the end, there was no credible evidence to support the allegations against the nominee.”

Kavanaugh, who was confirmed to be an associate justice on the U.S. Supreme Court last month, faced allegations from numerous women about sexual misconduct. He denied all of the claims levied against him.


Jim Sinclair’s Commentary

The latest from John Williams’

– Third-Quarter U.S. Real Merchandise Trade Deficit Was the Worst Ever
– Consumer Outlook Plummets
– Private Surveying of October 2018 Labor-Market Demand Showed Sharp Slowing
– October U.3 Unemployment Rose to 3.74% from Record-Low 3.68% in September; Broader U.6 Unemployment Eased to 7.43% from 7.45%; On Top of U.6, ShadowStats-Alternate Unemployment Notched Lower to 21.2% from 21.3%
– Intense Labor-Market Stresses Remained Consistent with Headline Unemployment Near a Record High, Not a Record Low
– October Payroll Gain of 250,000, versus 118,000 in September Likely Reflected a Relative Boost versus Hurricane-Depressed September Numbers
– Third-Quarter 2018 Real Construction Spending Contracted Quarter to Quarter, Total Construction Spending Fell at an Annualized Pace of 1.7% (-1.7%), Private Residential Construction Spending Contracted by 6.6% (-6.6%), Down by 2.8% (-2.8%) Before Inflation Adjustment
– Weakening Residential Construction and Sales Activity Reflect Impact of Federal Reserve Tightening and Related Consumer Liquidity Squeeze
– Annual M3 Growth Sank to a 14-Month Low in October 2018, with M2 at an 8-Year Low, and M1 at a 10-Year Low (Other Than For Recent Months); With the Level of the Monetary Base at a 21-Month Low

“No. 977: October Labor Numbers and Money Supply, September Trade Deficit, Construction Spending”