Posts Categorized: Jim’s Mailbox

Posted by & filed under Jim's Mailbox.

Dear Wolfgang,

The people who plan this are anything, but dopes. They are the smartest sociopaths on the planet and above the elites.



I find this a very moving article.

Many eye opening facts that should shake you to the core.

“If you recall, Article I, Section 8, of the U.S. Constitution empowers Congress – not the Federal Reserve – to coin money and regulate its value.

What’s more, Article I, Section 10, specifies that money be coined of gold and silver and cannot be bills of credit – such as paper legal tender notes.”

“As far as we can tell, paper dollars are illegal money on two counts. First, they’re issued by the Federal Reserve. Second, they’re bills of credit with no ties to gold or silver.

What gives? Isn’t the U.S. Constitution supposed to be the supreme law of the land?”

“Several years ago JP Morgan Chase stopped accepting cash as payment for credit cards and mortgages. Now Visa is dangling carrots in front of merchants with hungry stomachs. Visa will upgrade a merchant’s payment system and in return the merchant will no longer accept cash payments from customers.

Aren’t these actions by JP Morgan Chase and the merchants that take up Visa on their offer also illegal? The last we checked, cash, as in paper dollars, say: This note is legal tender for all debts, public and private.”

“Anyone with half their wits about them knows the U.S. Constitution has been reduced to a mere artifact of history.

Does this bother you?”

CIGA Wolfgang Rech

Congress’ Radical Plan To End Illegal Money
July 21, 2017

One of the many downfalls of being the United States Secretary of the Treasury is the requirement to place one’s autograph on the face of the Federal Reserve’s legal tender notes. There, on public display, is an overt record of a critical defect. A signature endorsement of a Federal Reserve note by the Treasury Secretary represents their personal ratification of unconstitutional money.

If you recall, Article I, Section 8, of the U.S. Constitution empowers Congress – not the Federal Reserve – to coin money and regulate its value. What’s more, Article I, Section 10, specifies that money be coined of gold and silver and cannot be bills of credit – such as paper legal tender notes.

As far as we can tell, paper dollars are illegal money on two counts. First, they’re issued by the Federal Reserve. Second, they’re bills of credit with no ties to gold or silver.


Posted by & filed under Jim's Mailbox.


So, I give you…the Bernanke!



No offence.


Dismal Dave.


Our friend CIGA Norbert dug up this little gem. Another application for silver, how long before increasing demand overwhelms supply?


New Nano Light Detector Could Change Solar Panels Forever
July 16, 2017

In today’s increasingly powerful electronics, tiny materials are a must as manufacturers seek to increase performance without adding bulk. Smaller is also better for optoelectronic devices—like camera sensors or solar cells—which collect light and convert it to electrical energy.

This image shows the different layers of the nanoscale photodetector, including germanium (red) in between layers of gold or aluminum (yellow) and aluminum oxide (purple). The bottom layer is a silver substrate. (Credit: U. Buffalo)




More excellent points from our friend Robert.



“In the second quarter, Chinese entities accounted for half of the commercial real estate purchases in Manhattan.”

The real question is when they stop buying, how far will prices drop? The same question can be asked of residential real estate where dubious assets serve as a basis for borrowing at Chinese banks coupled with mortgages at local banks. The ripple effect is bound to be widespread. A classic Chinese street game is to cause the sale of an item to show it’s bench value while then selling many other similar items using the first one as a benchmark, and letting everyone else take the hit who jumped in, when it collapses. Pigeons are many I am told for this game.

Even Deutsche may have issues as it is likely the share ownership in the bank is likely 100% debt financed while HNA is a borrower. When they hit water who do they sell the shares to, or are they already pledged, and if so to who ? Seems like a easy way to transfer a sizable block to a Chinese bank or the state itself. And that too raises other issues. Certainly explains why the ECB is looking into the ownership.



Bank of America Pulls Ripcord on Chinese Conglomerate HNA
July 20, 2017

Are the Conglomerates the Black Swan in China?

Bank of America suddenly pulled back from doing business with HNA Group, a privately held Chinese conglomerate that has been on the forefront of highly leveraged, opaque Chinese conglomerates out on a mind-boggling debt-funded acquisition binge around the world.

“We simply don’t know what we don’t know, and are not prepared to take the risk,” Bank of America president for Asia Pacific, Matthew Koder, wrote in an internal email, dated June 28 that was leaked to The New York Times. “Given the importance of maintaining rigorous client selection standards, we have decided not to be involved with transactions with the HNA Group at this point in time.”

So Bank of America is getting scared and won’t do business with HNA. It’s walking away from a lucrative customer that has been generating piles of fees and interest income for the banks. The Times:


Posted by & filed under Jim's Mailbox.

Bill Holter’s Commentary

From our friend Robert.

China Is Training Africa’s Next Generation Of Transport And Aviation Experts
July 18, 2017

China is moving beyond building Africa’s roads, railways and ports to investing in the continent’s transportation and aviation industries as a whole.

Plans to build five transportation focused universities and a China-Africa aviation school on the continent are going ahead, according to the dean of Chang’an University in Xi’an, China, speaking at a conference in South Africa last week. Starting this year, 500 aviation personnel from Africa will start training in China each year, Chinese officials said earlier this year.

Education and the transfer of technological know-how are increasingly part of China’s soft power efforts in Africa. There are more than 20 Chinese-run agricultural training centers and over 40 Chinese language schools, Confucius centers, across the continent. China’s minister of foreign affairs Wang Yi said last week his government would offer 10,000 scholarships to African officials to study in China over the next decade. China is already the top destination for African students from English-speaking countries, ahead of the United Kingdom and the United States.



Dear Wolfgang,

Gold is the most superior of assets. Gold will in time assert itself without the need to make any comparisons to anything. Relax.



A little “Bit” of this and a little “Bit” of that.

Somehow, I received this on my work email.

I am not into Bitcoins, yet I still got this.

The fact that I somehow received this aside, it appears from reading the message (if true) that there may be trouble ahead.

Clouds (pun intended) on the horizon!

It’s difficult enough following the relationship of gold to the US Dollar.

Now one has to evaluate user activated hard forks and its use to change and increase the blockchain!

Getting too old for this.

CIGA Wolfgang Rech

Dear Coinbase Customer,

The User Activated Hard Fork (UAHF) is a proposal to increase the Bitcoin block size scheduled to activate on August 1. The UAHF is incompatible with the current Bitcoin ruleset and will create a separate blockchain. Should UAHF activate on August 1, Coinbase will not support the new blockchain or its associated coin.

The User Activated Soft Fork (UASF) is a proposal to adopt Segregated Witness on the Bitcoin blockchain and could result in network instability. It is scheduled to activate at the same time as the UAHF.

To ensure the safety of customers’ funds, we will temporarily suspend bitcoin deposits, withdrawals, and buy/sell starting approximately 4 hours before activation of either fork.

• If you currently have bitcoin in your Coinbase account, and do not wish to have access to UAHF coins or have immediate access to your bitcoin, you are not required to take any action.

• If you wish to have access to UAHF coins or you wish to have immediate access to your bitcoin, you should send your bitcoin from Coinbase to your external address by July 31.

For more information on how to send bitcoin from your Coinbase account, please refer to this article:

Thank you,

Coinbase Team



“Holy Cell/Sell Batman”.


This ought to go over well. May trigger something bigger than a drop in Apple. After all, markets are all tied together.

Like Dominos.

But wait…….2018 is still OK!

CIGA Wolfgang Rech

JPM Slashes iPhone Sales Forecasts: Expects Only 2MM Units Sold In September Vs 9MM Previously
July 19, 2017

With the launch of the iPhone 8 just around the corner, sellside analysts are scrambling to revise their forecasts and position themselves “correctly” ahead of what will be the most anticipated new event in recent Apple history. In that context, JPM’s Rod Hall today updated his projections of how he envisions the upcoming launch will look, stating that he now expects a slower OLED production start, and adding that JPM is reducing its iPhone Pro volume expectation “to reflect data points we have been picking up since late May related to a slower production start for the flagship OLED phone.” In doing so JPM has slashed its September iPhone sales forecast from 9 million to just 2 million, and its Q4 sales forecast from 49.5 million to 42.2 million.

Specifically, Hall writes that “various data points post our initial March 26 “Super-cycle Me” report support a slower start to production of the OLED iPhone. In our original model we had forecast 9m units sold in September, and we now reduce that number to ~2m units. We increase our FY18 unit forecasts by about the same amount to reflect time-shifted demand.”

Some other forecast revisions from JPM:

New iPhone shipments estimate: Our total iPhone shipments estimate for FQ4 is now 42.2m, reduced from our prior 49.5m forecast. Our FY18 iPhone shipments estimate is now 270.2m, up from our previous estimate of 262.9m.

Assuming higher iPhone ASP: We are increasing our ASP assumption for the iPhone Pro by $100 to $1,100 as we believe production costs are slightly higher than we had originally anticipated. We also believe that the higher ASP is a critical demand control variable for a new tier of iPhone.

New iPhone ASP estimate: We reduce our blended iPhone ASP estimate for FQ4 to $629 from $681 due to a lower mix of iPhone Pros. Our FY18 iPhone ASP estimate increases to $759 from $717 consistent with our ASP and mix changes.


Posted by & filed under Jim's Mailbox.


Statistician, Jim Willie, has a nice article out.

Debt, masquerading as an asset!

“Numerous countries have a core foundation to their national banking system. They maintain core assets and ratios. It is not gold bullion, but rather the USGovt debt. It is the USTBond denominated in USDollars. Of course, such practice is upside down and lunatic. Debt operating as core assets in the global banking system is utterly reckless, insane, and bound to force a systemic breakdown. Such is the heresy and risk from the banker cabal.”

Nicely put.

We saw how that worked out in 2007.

CIGA Wolfgang Rech

Jim Willie Issues ALERT: “Global Currency Reserve at Risk”
July 16, 2017

Submitted by Jim Willie, Golden Jackass:

Within the US borders, the population remains largely ignorant of the true significance of the global currency reserve concept. It is of paramount importance, yet almost never discussed in the financial press. The public within the United States simply assumes the country operates with the USDollar as its currency, with near blindness to its global role in trade and banking. The end of an era is coming, as the change will be powerful in its effect. The shock wave could hit this year in some form, in a manner to highlight its importance.


The term is tossed around in common manner, often without an explanation of what it means. A strict meaning is followed by a practical meaning. The USDollar serves as global currency reserve, insofar as the USTreasury Bond is the standard for bank reserve core asset usage. Numerous countries have a core foundation to their national banking system. They maintain core assets and ratios. It is not gold bullion, but rather the USGovt debt. It is the USTBond denominated in USDollars. Of course, such practice is upside down and lunatic. Debt operating as core assets in the global banking system is utterly reckless, insane, and bound to force a systemic breakdown. Such is the heresy and risk from the banker cabal.

The practical side of global currency reserve system is that trade payments are standardized as being executed in USDollar terms. A crude oil shipment, a grain shipment, a container vessel shipment, they are paid in USD terms, often with short-term USTreasury Bills. Also, international contracts like for consulting services or for installation of IT systems typically are written for payment in USD terms. As a result, the nations set to pay for a shipment or contract maintain huge USTreasury stores in their banking systems, ready to complete the trade payments.


Posted by & filed under Jim's Mailbox.

Dear Jim/Bill,

Khamenei calls Trump.


Iranian Supreme Leader Ali Khamenei calls Trump and tells him, “Donald, stay out of office. because last night I had a wonderful dream. I could see America , the whole beautiful country, and on each house I saw a banner.”

“What did it say on the banners?” Trump asks.

Ali replies, “United States of Iran.”

Trump says, “You know, Ali, I am really happy you called, because believe it or not, last night I had a similar dream. I could see all of Tehran , and it was more beautiful than ever, and on each house flew an enormous banner.”

“What did it say on the banners?” Ali asks.

Trump replies, “I don’t know. I can’t read Hebrew.”

Posted by & filed under Jim's Mailbox.


The USD index is breaking below the 95 level; it is 95.16 at the moment. Hence why gold and silver are rising. See the chart of gold form Forex analytics below, it bounces off exactly at its support!






I did not know Bill Holter did Western’s.



One of my favorite movies of all time has to be TOMBSTONE, with Kurt Russell.

The casting and content (Biblical references) is excellent.

Instead of Ike Clanton, Wyatt could be GOLD himself, talking to the current governments and financial system.


Wyatt Earp: All right, Clanton… you called down the thunder, well now you’ve got it! You see that?

[pulls open his coat, revealing a badge]

Wyatt Earp: It says United States Marshal!

Ike Clanton: [terrified, pleading] Wyatt, please, I…

Wyatt Earp: [referring to Stilwell, laying dead] Take a good look at him, Ike… ’cause that’s how you’re gonna end up!

[shoves Ike down roughly with his boot]

Wyatt Earp: The Cowboys are finished, you understand? I see a red sash, I kill the man wearin’ it!

[lets Ike up to run for his life]

Wyatt Earp: So run, you cur… RUN! Tell all the other curs the law’s comin’!


Wyatt Earp: You tell ’em I’M coming… and hell’s coming with me, you hear?…


Wyatt Earp: Hell’s coming with me!


Enjoy the movie and the move to come in gold.

CIGA Wolfgang Rech

Posted by & filed under Jim's Mailbox.

While we haven’t verified the claim of 3.5 billion silver ounces, this is a very interesting point of view.



I was scribbling some thoughts on a note pad and did some basic calculations that I thought you might want to share with your subscribers.

I’ve read various estimates of the total current global inventory of silver. The estimates range from about 1 billion ounces to 5 billion ounces. For sake of simplicity, I used 3.5 billion for my calculations.

There are about 7 billion people on Earth. If the silver were distributed evenly, based on my estimate of total global inventory, everyone would receive just one-half ounce of silver. That’s all there is!

If you distributed the silver in 5oz bars, you could only give a bar to one person in ten.

If you had only 100oz bars available to distribute, you could give a bar to just one person in 200. The recipients would represent just 0.5% of the population.

If you only had sealed monster boxes containing 500 one ounce coins, you could only give a box to one person in 1000, or 0.1% of the population.

We usually refer to those holding the top 0.1% net worth as the “elite class”. The purchase of just one monster box of Silver Eagles will enable you to join the elite class of silver owners!

In fact, it’s probably even better than this. Since the ownership of silver is not evenly distributed ( i.e. a small number of entities have huge holdings), it is likely that you would be much higher in the hierarchy than these numbers suggest.



Posted by & filed under Jim's Mailbox.

CIGA Chris from Britain checks in with some interesting history.


Dear Bill,

Reading the intro to the article about ‘fake temperature charts’ allegedly concocted by Michael Mann makes me think of something brought about by the Medieval Warm Period that is part of local culture here in south-west London.

My son went to a primary school in Richmond on Thames, a part of Greater London, called The Vineyard School. (Richmond, by the way, gave its name to Richmond, Virginia.) Now why would a school in England be called by that name? Well, during the Middle Ages, when temperatures were on average, 10º F higher, the bluffs overlooking the River Thames which flows close by were ideal for growing grapes. The vineyards along the Thames were mainly owned by monasteries and the wine they produced was sold to the local population to fund their charitable activities. (There is an ancient vine at nearby Hampton Court Palace which is over 300 years old and still produces grapes but it is under glass.)

So, I challenge anyone to ‘eradicate’ all of this cultural history!

It is only in the last 50-60 years that it has again been possible to grow grapes in the open this far north, so Britain is a little warmer than it used to be (but our winters have become much colder).

With best wishes,




Get used to it folks. This is what has become of our country. Your informed only on a “Need To Know” basis.

Censorship in its most egregious form.

Claiming felonious assaults falsely as petty crimes when they are actually felonious assaults, and then denying you the right to protect yourself by being aware of your surroundings and possible perpetrators?

What next?

Not advising you of Islamic terrorist assaults on civilians?

Not advising you of gang related assaults?

Not advising you of contaminated water because those in charge happen to be of another race, color, or creed?

CIGA Wolfgang Rech

BART Withholds Video Of Attacks Over Concern About “Stereotypes”
July 12, 2017

Over the last few months, several attacks by large groups have targeted riders on San Francisco’s Bay Area Rapid Transit (BART) trains, resulting in robberies and injuries. The first of these took place in April [6] and involved as many as sixty youth and seven victims, two of whom were beaten. The two most recent came at the end of June, including an armed robbery with a knife and another incident with a dozen perpetrators robbing a woman.

BART riders have begun to fear for their safety, and want video released to see who are committing these robberies. BART won’t release the video, however, and BART board member Deborah Allen tells CBS [7] that it’s because they are afraid that the videos will “unfairly affect and characterize riders of color”:

According to a memo distributed to BART Directors, the agency won’t do a press release on the June 30 theft because it was a “petty crime” that would make BART look “crime ridden.” Furthermore, it would “unfairly affect and characterize riders of color, leading to sweeping generalizations in media reports.”

The memo was from BART Assistant General Manager Kerry Hamill.



What have they been taught if it’s not about work?

Bosses Say Graduates Can’t Cope With Office Life
July 11, 2017

From Daily Mail: A third of companies are concerned about young people’s attitude to work, a report by business leaders says today.

With many graduates and school leavers lacking the mindset and skills required to thrive in the workplace, the CBI said teachers needed to better reflect the importance of ‘attitude and aptitude for work’.

There are also worries about the literacy and numeracy skills of young employees, with firms admitting they have had to run classes for recruits.

The CBI/Pearson survey of 344 firms found that 32 per cent were dissatisfied with graduates’ ‘attitudes and behaviours of self-management and resilience’, with 40 per cent saying they lacked customer awareness.

Some 33 per cent of business leaders were unhappy with the literacy of young applicants, while 29 per cent said their numeracy wasn’t up to scratch. Faced with a skills shortage, two in five businesses (41 per cent) have been forced to do remedial training for school or college leavers.




The best laid plans of mice and men….


With all the hubbab the last week or two about the detailed plans of the Fed to reduce the balance sheet; the amounts this year, next year, and going forward; you would think this was a “fait accompli”.

Not so!

Suddenly “hesitancy” rears it head and a lot “ifs” and “buts” come into play.

CIGA Wolfgang Rech

Yellen Says a Sizable Rate Cut Would Halt Fed’s Balance Sheet Reduction
July 12, 2017

The Federal Reserve will probably start trimming its $4.5 trillion balance sheet later this year, Chair Janet Yellen says, but any economic deterioration bad enough to prompt a sizeable cut in interest rates would halt that effort.

The central bank “would be prepared to resume reinvestments,” she said during semi-annual testimony before the House Financial Services Committee on Wednesday, July 12. For now, Yellen said, the U.S. economy is continuing to grow moderately, with unemployment of 4.4% well below its financial-crisis peak.

Even without a severe downturn, some members of the Fed’s monetary policy committee have expressed concern that paring the portfolio, which expanded more than fivefold with securities purchases intended to buoy the economy after the 2008 financial crisis, might amplify the effects of gradually rising rates.