Jim’s Mailbox

Posted at 10:36 PM (CST) by & filed under Jim's Mailbox.

“A Soft Coup Against Donald Trump Is Underway” Declares Major Turkish Daily
January 8, 2018

The op-ed declares case closed for any doubts about a fierce resistance seeking to subvert Trump within his own administration:

If there was ever any doubt that the resistance within the Trump administration wasn’t real, what happened in light of Trump’s decision to leave disproved the skeptics. Bolton and several other members of the Trump administration are committing a serious crime by preventing the current president of the United States from reversing his predecessor’s misguided decisions in the Syrian theater. What is happening today isn’t a policy debate, but a direct challenge to American democracy by un-elected paper-pushers. Indeed, “many of the senior officials in his own administration are working diligently from within to frustrate” President Trump’s agenda

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Jim,

The dollar is used less and less in trade as you said would happen.

Dave

India Begins Paying For Iranian Oil In Rupees
January 8, 2018

Three months ago, in Mid-October, Subhash Chandra Garg, economic affairs secretary at India’s finance ministry, said that India still hasn’t worked out yet a payment system for continued purchases of crude oil from Iran, just before receiving a waiver to continue importing oil from Iran in its capacity as Iran’s second largest oil client after China.

 

 

 

 

 

 

 

 

 

 

 

 

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Jim/Bill,

Since childhood we were always taught to “Mind Your Own Business”.

When did that change?

Was it with the advent of Mass Media?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

What America has been doing for years now, in justifying its involvement in the internal affairs of other  nations, would make Goebbels proud.

CIGA Wolfgang Rech

How The US Spent Billions To Change The Outcome Of Elections Around The World: A Review
January 8, 2019

Authored by Danny Haiphong via BlackAgendaReport.com,

The U.S. military state overthrows democratically-elected governments that it deems to be a threat to corporate interests.

“There is plenty of evidence that the United States is the most depraved and dangerous “meddler” in the affairs of other nations that history has ever know

Dan Kovalik is a labor and human rights lawyer, but most of all he is an anti-imperialist and an author of three books. Kovalik’s first two books tackled the specific US war drives against Russia and Iran. His third installment, The Plot to Control the World: How the US Spent Billions to Change the Outcome of Elections Around the World, addresses the broad scope of US election meddling abroad. The book provides much needed political and ideological life support to an anti-war movement in the U.S that has been rendered nearly invisible to the naked eye.

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Creature From Jekyll Island…one of the most complete studies of the events are the Federal Reserve.

JB

 

 

 

 

 

 

 

 

 

 

 

 

As Apple and Amazon go, so goes Trump.

Jim

Jim/Bill,

Apple…..

THE stalwart of today’s market.

The high priestess of finance.

The global dominatrix.

First production cuts, then price cuts, and now Apple services is suddenly in trouble…

Summarizing, the “Kvaal call”, the Nomura analysts concludes that “It’s not just units but services too.” Of course, looking at the AAPL stock price over the past week, which has rebounded strongly on hopes of an imminent US-China trade deal (which we now know isn’t coming) and more stimulus by the Fed and FOMC, and recouped much of last Tuesday’s shocking revenue guidance cut, one would think that it is only smooth sailing from this point on for Tim Cook. One would be dead wrong.

As GM goes, so goes America.  Remember that old adage?

(From Charlie Wilson, President of GM, back in 1953.)

Well………(you can extrapolate from there)

CIGA Wolfgang Rech

Even More Bad News For Apple
January 9, 2019

For those who thought that the latest news that Apple was slashing iPhone production again, this time by 10%, for the second time in 2 months was as bad as it would get, we have some bad news.

Earlier, when commenting on the latest production cut, we had a modest proposal: “Maybe, just maybe, they should consider cutting prices?”

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Bill,

It’s coming, like it or not and everyone in the know accepts it, and is planning on it cohesively and collectively. Everything else is kabuki theatre.

A substantial decline in the value of the US dollar is required to bring the US trade account into balance. That means a huge devaluation and a loss of its reserve status among oil producers and central banks. It means a huge increase in inflation of imported goods into the US during the lengthy transition. It means a huge increase in taxes on income and wealth for U.S. citizens. It means a wholesale liquidation of debt and equities followed by hyperinflation. It means social and political unrest. It means an end of an empire.

CIGA Kevin

Crude Oil and Other Petroleum Distillate and Gold Facts:

  • World Oil Imports grew about 1.4% to roughly US $886B representing about 15bb/year up from US$873B in 2017. Oil Imports represents about 5.0% of the worldwide value of all import products http://www.worldstopexports.com/crude-oil-imports-by-country/
  • http://www.worldstopexports.com/worlds-top-oil-exports-country/
  • World Imports All Products amounts to about US $18T
  • World Oil Supply/Production as of Q3 ’18 amounted to 100.9 mb/d or 36.9 bb/year & $2.2T
  • China Oil Imports amount to about 10 mb/day or 3.6 bb/year or 20% of total world crude oil and petroleum distillates imports. In 2017 that amounted to roughly US$177B; in 2018 some US $200B. http://www.worldstopexports.com/crude-oil-imports-by-country/
  • China Domestic Gold Production amounted to 426 MT or 13.7m oz in 2017 accounting for 13.03% of global gold production, making China the world’s largest gold producing nation for the 11th consecutive year and double that of the U.S.

http://www.chinabankingnews.com/2018/10/22/china-first-world-annual-gold-production/

  • World Gold Production amounted to about 3276 MT or 100M oz +/- in 2017 and declining trend
  • China’s Established in Ground Gold Resource Reserves were 13,195 MT in 2017 , for YoY growth of 8.45%
  • 100% Gold Exchange for Oil Trade in China– a 100% gold exchange for oil trade-backed RMB would require about a 263:1 ratio of gold price per ounce to barrel of oil (3.6 bb/year oil imports)/(13.7M gold ounces produced) to fund 100% of China oil imports via China’s domestic annual gold production (not including the gold resources they own in foreign countries) about $13,500/oz
  • 100% Gold Exchange for Oil Trade Worldwide –  a 100% gold exchange for oil trade in a one world currency would require about a 150:1 ratio of gold price per ounce to barrel of oil

(15.0 bb/year oil imports)/(100M gold ounces produced) or about $7800/oz

  • 5% Gold Exchange for All Products Trade Worldwide – a 5% gold exchange for all products traded worldwide would require a value equal to 5% of the US $18T in worldwide trade or US $900B worth of world gold production. That would require about a $9000/oz gold price ($900B/100M oz annual gold production).
  • 5% Gold Exchange for All Products Trade Worldwide China – China being a net exporter with a $450B trade surplus could accumulate 1500 MT physical gold each year with a worldwide 5% gold exchange trade currency and $9000/oz gold never touching their 13,195 MT in Ground Gold Resource Reserves or 450MT of annual gold production.
  • 5% Gold Exchange for All Products Trade Worldwide U.S.-  The U.S. would require 2073 MT of gold to finance its $600B annual trade deficit but domestically produces only 6.7M oz of gold.

Consequently a substantial decline in the value of the US dollar is required to bring the US trade account into balance. That means a huge devaluation and a loss of its reserve status among oil producers and central banks. It means a huge increase in inflation of imported goods into the US during the lengthy transition. It means a huge increase in taxes on income and wealth for U.S. citizens. It means a wholesale liquidation of debt and equities followed by hyperinflation. It means social and political unrest. It means an end of an empire.

 

It looks like Tanzania means business. Mr. Magafuli and Mr. Bestow may become the shining capitalist stars of the African continent?

Courtesy of JB.

Bill

Tanzania’s Magufuli Orders Central Bank To Create Gold Reserve
January 9, 2019

Tanzanian President John Magufuli on Wednesday ordered the central bank to create a gold reserve, as he urged the government to better control mineral exports from the country, Africa’s fourth largest gold producer.

“We should start buying gold, the central bank must invest in this. We must have our reserves in dollars but also our reserves in gold, because gold is money,” Magufuli said at a ceremony in Dar es Salaam.

Magufuli is intent on regulating his country’s mining sector, which has faced allegations of fraud and underreporting of production and profits, and has locked horns with foreign mining companies.

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