Posts Categorized: Jim’s Mailbox

Posted by & filed under Jim's Mailbox.

The “wrap up smear”.  These people are lying pigs sucking off of the taxpayer teet in an effort to destroy the country …and almost half of the population has no clue and falls for it every time!  All I can say is one half of the population is armed and just so happens to be the half who believe in The Constitution, the other half believes in anything including skittles, rainbows and elusive unicorns!

Bill

 

And the hits keep coming!

JB

Congress Wants Info: Former Top FBI Lawyer Being Investigated For Leaks
January 15, 2019

James Baker, the former top lawyer for the FBI, has been under a Department of Justice investigation since 2017, for allegedly leaking sensitive national security information to the media. The information regarding the leak investigation was confirmed in a letter from top House Republicans on Tuesday who are seeking more information on Baker from the Department of Justice.

Rep. Jim Jordan, R-Ohio, and Freedom Caucus Chairman Rep. Mark Meadows, R-NC, included a transcript of the congressional hearing with Baker in their five page letter to DOJ United States Attorney John Durham. Jordan and Meadows said the investigation into Baker was confirmed during the October, 2018 hearing when Baker’s attorney, Daniel Levin, told the lawmakers his client was under investigation.

In the transcripts, Levin says, “you may or may not know, [Baker has] been the subject of a leak investigation…a criminal leak investigation that’s still active at the Justice Department. So I’m cutting off —”

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You gotta love Grannies with guns!

Bill

What’s not to love? Grannies with guns.

JB

 

JB,

It’s about to get really good!

Bill

Federal Court Orders Discovery on Clinton Email, Benghazi Scandal: Top Obama-Clinton Officials, Susan Rice and Ben Rhodes to Respond to Judicial Watch Questions Under Oath
January 15, 2019

Seven Other Top State Department/Clinton Aides Must also Respond to Judicial Watch Queries

(Washington, DC) — Judicial Watch announced today that United States District Judge Royce C. Lamberth ruled that discovery can begin in Hillary Clinton’s email scandal. Obama administration senior State Department officials, lawyers, and Clinton aides will now be deposed under oath. Senior officials — including Susan Rice, Ben Rhodes, Jacob Sullivan, and FBI official E.W. Priestap — will now have to answer Judicial Watch’s written questions under oath. The court rejected the DOJ and State Department’s objections to Judicial Watch’s court-ordered discovery plan. (The court, in ordering a discovery plan last month, ruled that the Clinton email system was “one of the gravest modern offenses to government transparency.”)

Judicial Watch’s discovery will seek answers to:

Whether Clinton intentionally attempted to evade the Freedom of Information Act (FOIA) by using a non-government email system;

whether the State Department’s efforts to settle this case beginning in late 2014 amounted to bad faith; and

whether the State Department adequately searched for records responsive to Judicial Watch’s FOIA request.

Discovery is scheduled to be completed within 120 days. The court will hold a post-discovery hearing to determine if Judicial Watch may also depose additional witnesses, including Clinton and her former Chief of Staff Cheryl Mills.

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Jim,

We have talked, on Saturdays, about new highs in gold in many countries.

Bill

Gold Hits An All Time High In 72 Currencies
January 15, 2019

It is natural that we measure things by a familiar yardstick – the problem is that being so-biased or lazy, we can be deceived.

Take gold. Popular belief has it that gold prices have not performed especially well despite some egregious geopolitical and economic factors. Well measured in 72 currencies, gold is at … or within a few percentage points … of being at an all time high for people in those countries. Not on the list are the British Pound, the Swiss Franc, the Euro and Chinese Yuan – but we are not far off in all of those currencies too. Only in USD does gold lag – and not all of us live in the US.

Using the dollar gold price, as most of us do, has disguised what is actually quite a powerful bull market. If my memory serves me right, we saw the same phenomenon – a stealth rally in minor currencies – ahead of the last major gold bull run (in dollars) in the late 1990’s. Arguably this may be a very good leading indicator.

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Jim,

This is why Junior miners sitting on known deposits are so important.

Dave

Yet Another MAJOR Reason To Buy Gold
January 14, 2019

For almost a year now, I’ve been advising you that gold production is plunging…

By itself, declining gold production isn’t a huge deal.

It takes hundreds of millions of years for minerals to form deep in the earth’s crust… but humans only need a few decades to extract it.

That’s why mining companies need to constantly explore for new deposits.

And that’s where the problem comes in… mining companies haven’t been exploring.

Large mining companies have been cutting their exploration budgets for years. By the end of 2016, exploration budgets hit an 11-year low.

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Jim,

This is the world’s worst nightmare.

Dave

White House Sought Options to Strike Iran
January 13, 2019

President Trump’s National Security Council asked the Pentagon to provide the White House with military options to strike Iran last year, generating concern at the Pentagon and State Department, current and former U.S. officials said.

The request, which hasn’t been previously reported, came after militants fired three mortars into Baghdad’s sprawling diplomatic quarter, home to the U.S. Embassy, on a warm night in early September. The shells—launched by a group aligned with Iran—landed in an open lot and harmed no one.

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Jim,

I am sure the protester’s will soon go home and eat cake.

Dave

Watch Absolute Mayhem As Yellow Vests Battle French Riot Police In 9th Week Of Protests
January 12, 2019

The Yellow Vest movement has taken to the streets across France for a 9th week of anti-government protests, as the Gilets Jaunes movement appeared to surge in both number and intensity. While the demonstrations were largely peaceful for most involved, there were several violent skirmishes with police.

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CIGA Alex sends us the trading history of the last two bear markets.

 

 

 

 

 

 

 

 

 

Bill,

No need to read between the lines. The storm is in view. It will be nothing you have seen before. Cognitive dissonance and wilful ignorance are your enemy.

Time is running out on the debt bubble and fiat money experiment. Liquidity and counter party free collateral disappearing. Finish making preparations for massive wealth redistribution that ensues from financial and monetary collapse. Then fasten your seatbelt

Kevin

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

https://www.advisorperspectives.com/dshort/updates/2019/01/11/ecri-weekly-leading-index-update-colliding-with-the-economic-cycle-again

Posted 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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Bill,

You and Jim have said this would happen.

Dave

Is This Why Gold Just Had Its Best Month In 2 Years?
January 7, 2019

Spot Gold prices rallied for three straight months to end 2018, with December seeing the biggest monthly gold gains in around two years (since Jan 2017)…

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At the same time, China’s official gold reserves rose for the first time in around two years (since Oct 2016)…

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Jim,

President Trump wants out of Syria. This story should make us ask just who are John Bolton-Lindsey Graham Mike Pompeo that they rolled back Mr Trump’s decision.

Bolton Puts Conditions on Syria Withdrawal, Suggesting a Delay of Months or Years
January 6, 2019

WASHINGTON — President Trump’s national security adviser, John R. Bolton, rolled back on Sunday Mr. Trump’s decision to rapidly withdraw from Syria, laying out conditions for a pullout that could leave American forces there for months or even years.

Mr. Bolton, making a visit to Israel, told reporters that American forces would remain in Syria until the last remnants of the Islamic State were defeated and Turkey provided guarantees that it would not strike Kurdish forces allied with the United States. He and other top White House advisers have led a behind-the-scenes effort to slow Mr. Trump’s order and reassure allies, including Israel.

“We don’t think the Turks ought to undertake military action that’s not fully coordinated with and agreed to by the United States, at a minimum so they don’t endanger our troops,” Mr. Bolton said in Jerusalem, where he was traveling ahead of a visit Tuesday to Turkey.

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Jim,

Flynn was hung out to dry on a lie.

Dave

‘Secret’ Evidence Vindicates Michael Flynn’s ‘Treasonous’ Dinner with Putin
January 5, 2018

Tyler Durden

Over the last month we have learned much more about the circumstances surrounding the departure of former Trump national security adviser Michael Flynn.

Flynn pleaded guilty to making false statements to the FBI about a conversation with then-Russian ambassador to the United States Sergey Kislyak; one on December 29, 2016 in which Flynn urged the Russians to “refrain from escalating the situation in response to sanctions that the US had imposed against Russia,” and another conversation in which Kislyak told Flynn that Russia had decided to moderate its response following the request.

Nothing earth shattering, illegal, or collusive in the “witch hunt” sense – but Flynn was not forthcoming with the Justice Department, or Vice President Mike Pence. He was fired from his post and subsequently pleaded guilty in December 2017 to making false statements to the FBI.

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Jim,

We ran short of time on Saturday’s talk, so I have posted this for listeners.

Dave

Chinese Scholar Offers Insight Into Beijing’s Strategic Mindset
January 5, 2019

The top story of 2019 – and the years ahead – will continue to revolve around the myriad, dangerous permutations of the economic ascent of China, the resurgence of nuclear superpower Russia and the decline of the US’s global hegemony.

Two years ago, before the onset of the Trump administration, I sketched how the shadow play might proceed in the New Great Game in Eurasia.

Now the new game hits high gear; it’s the US against the Russia-China strategic partnership.

Diplomatic capers, tactical retreats, psychological, economic, cyber and even outer space duels, all enveloped in media hysteria, will continue to rule the news cycle. Be prepared for all shades of carping about authoritarian China, and its “malign” association with an “illiberal” Russian bogeyman bent on blasting the borders of Europe and “disrupting” the Middle East.

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Bill,

As you keep saying, with out the rule of law we have nothing.

Dave

Death of Democracy, America’s Loss of Rule of Law
January 5, 2018

As of the beginning of 2019, America enters a meltdown. Congress, under the House leadership of Nancy Pelosi, says President Trump may well be indicted for crimes, election fraud, conspiracy, obstruction of justice, tax evasion, no one is sure except maybe Special Counsel Robert Mueller.

What is known, however, is that the deterioration of rule of law in the US has gone on for decades with the scales of justice under the absolute control of the powerful and corrupt. What is also know to anyone who pays remote attention is that it is the GOP, which doesn’t necessarily mean Donald Trump, that has been bought and paid for by special interests.

This issue has come to light only recently, and to a degree few are aware, as moves unseen by the public are bringing potential reforms into play. The powerbases within the military and intelligence community, never well understood and too often assumed to be owned by Israel or Wall Street, are close to quietly assuming power.

Past that, business leaders are also organizing, terrified of runaway policies that have led to even deeper debt, potential civil unrest and, most threatening of all, the collapse of the dollar.

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Jim/Bill,

We covered this on Saturday. The $450 billion lost is just the start of it, hold on.

Dave

In Price and Value, Chinese Phone Makers Outpace Apple in Much of the World
January 4, 2018

BEIJING — To most Americans, the names are unfamiliar, maybe a little hard to pronounce: Huawei, Xiaomi, Oppo, Vivo.

They are China’s biggest smartphone brands. Around the world — although not in the United States — they are making the handset business brutally competitive. This week, after Apple warned of disappointing iPhone sales in China, industry observers said that devices from the Chinese brands were a major culprit.

As the phone market in China reaches saturation and sales shrink over all, the country’s hardware makers are pushing hard, and increasingly winning fans, in places like France, Germany, India and Southeast Asia, where consumers find that the phones can do just about everything an iPhone can do at a fraction of the cost.

Apple sits comfortably atop the market in many countries, including China, for the highest-end handsets. But companies like Huawei have started to do elsewhere what they have done in China, competing with the iPhone on experience and value and luring customers with price comparisons that make them rethink buying Apple’s signature product.

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Nothing else to say.

JB

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Jim,

You and Bill have told people be ready. I hope they listened.

Dave

Start Prepping! Electric Grid ‘Prime Target’ Of Terrorists, ‘Profound Threat,’ Says Council
December 10, 2018

In a new report that warns that the electric grid is the “prime target” of terrorists, Americans are being urged prepare for the up to six months without electricity, transportation, fuel, money, and healthcare.

“People no longer keep enough essentials within their homes, reducing their ability to sustain themselves during an extended, prolonged outage. We need to improve individual preparedness,” said a just-published report to President Trump.

“There needs to be more individual accountability for preparedness,” adds the report, “Surviving a Catastrophic Power Outage,” from the President’s National Infrastructure Advisory Council and published by the Department of Homeland Security.

It looked at the potential of a power outage of up to six months and recommended Americans have enough supplies on hand for a minimum 14 days, a standard for some prepper organizations.

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Jim,

It’s ugly, but true.

Dave

The Ugly Truth
For years critics of central bank policy have been dismissed as negative nellies, but the ugly truth is staring us all in the face: Market advances remain a game of artificial liquidity and central bank jawboning and not organic growth and now the jig is up. As I’ve been saying for a long time: There is zero evidence that markets can make or sustain new highs without some sort of intervention on the side of central banks. None. Zero. Zilch.

And don’t think this is hyperbole on my part, I will present the evidence of course.

In March 2009 markets bottomed on the expansion of QE1 which was introduced following the initial QE1 announcement in November 2008. Every major correction since then has been met with major central bank intervention. QE2, Twist, QE3 and so on.

When market tumbled in 2015 and 2016 global central banks embarked on the largest combined intervention effort in history to the tune of over $5 trillion between 2016 and 2017 giving us a grand total of over $15 trillion in central bank balance sheet courtesy FOMC, ECB and BOJ:

 

 

 

 

 

 

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