Posts Categorized: Jim’s Mailbox

Posted by & filed under Jim's Mailbox.

Dear Jim,

Regarding gold, it just never ends. The gold banks take away our gains as if it was their sole reason for existence.

CIGA Tony

Dear Tony,

When did a bully stop bullying unless the victim finally beat the crap out of the bully? Nothing stops unless the victim takes action to stop it.

There is only one action that will bring this daily raping of the Gold Market to an end.

If you are tired of being had by paper gold the following is the only course of action if you wish to take a positive step to end the games being played at your expense.

Do the necessary to stop the daily rape.

Delivery Process for Gold or Silver:

Delivery – Prudential holds the receipt in PFG’s account for customer

1. Client buys the futures contract.
2. Client will take delivery between First Notice Day and the Last Trading Day.
3. On delivery day account is debited cost plus a $50.00 delivery fee.
4. Receipt is booked to customers account
5. Monthly storage charge passed on to customer’s account(about $50.00).

Physical Delivery – Customer wants bars in their procession

1. Client buys the futures contract.
2. Client will take delivery between First Notice Day and the Last Trading Day.
3. On delivery day account is debited cost plus a $50.00 delivery fee.
4. We will provide the customer with name and phone number of the individual at the depository to contact.
5. Customer makes arrangements for the physical delivery

CIGA JB Slear, who is in the commodity business, offers his services to assist anyone seeking physical delivery of metals. He will guide you through the entire process, including arrangements for delivery.

To be totally clear, I expect JB not to discuss any type of speculation with you but ONLY help you acquire 100 ounce gold bars.

Once 21,000 bars have been taken the paper gold’s reign over the price of gold is over.

Gold can easily be shipped anywhere on the globe you want it as long as there is a bank to accept it on your behalf, even if they then hand it to you. All major armoured car services also have protected shipment methods.

For those wishing to learn more about international shipment for deliveries taken out of the COMEX warehouse, you will find it here soon.

JB will help you in the process of taking that actual delivery.

If you do nothing you by omission permit the daily market rape.

CIGA JB Slear can be reached at the following:
Fort Wealth Trading Co. LLC
www.FortWealth.com
866-443-0868 ext 104

Posted by & filed under Jim's Mailbox.

Hi Mr. Sinclair,

I am a roofing contractor in New Hampshire. I recently renewed my liability insurance with Essex Insurance. On the declarations page was a small annotation that last year’s policy did not have.

It was typed in red ink which does not show up on a fax or photocopy (coincidence?).

I quote verbatim – "If the company issuing this policy becomes insolvent, the New Hampshire Guaranty Fund shat not be liable for any claims made against the policy."

Regards,
CIGA Ted

Posted by & filed under Jim's Mailbox.

Dear Jim,

Here is another example of wafting anti-US dollar currency smoke.

Click here to view article…

This article lacks two big phrases:

1. "Possible" Future Gold backed currencies (Ruble or Yuan).
2. Trading in baskets of non US dollar currencies for trade settlement.

Now, is there a JSMinset reader who can parse Russian news releases? I know we have a few good Chinese interpreters. I think the Russians like to throw a lot of jabs when squaring off and they like to control the ring.

Ciga Ken

 

Jim,

I had a chance to travel cross country this past week and finally got a chance to begin reading Adam Fergusson’s book "When Money Dies: The nightmare of the Weimar collapse." While I have not completely finished it yet, I can say that much of what I have already read seems to be no different than opening up the newspaper on any given day here in November of 2008… including the corrupt cronyism, incompetence and political turmoil.

If anyone is calling you with questions about whether or not owning gold, silver or quality mining stocks is the right thing to do, please have them get a copy of this book. It is out of circulation but they can get a copy from one of Amazon’s used book dealers.

CIGA Buz

Posted by & filed under Jim's Mailbox.

Dear CIGAs,

The following is courtesy of CIGA Marc D

nationaldebt05

 

Jim,

The author is at least one of the "young geeks" you so often refer to who figured out himself that he was a fraud!

“Sooner rather than later, there would come a Great Reckoning when Wall Street would wake up and hundreds if not thousands of young people like me, who had no business making huge bets with other people’s money, would be expelled from finance.”

More…

CIGA Tim

Posted by & filed under Jim's Mailbox.

Jim,

"Colin Powell has made bizarre comments that echo the recent declaration by Democratic VP candidate Joe Biden that there will be an “international crisis” early into Barack Obama’s presidency that will test the new president by forcing him to make unpopular decisions.

Speaking on meet the press two days ago, Powell officially endorsed Obama and also made the following statement:

“The problems will always be there and there’s going to be a crisis which will come along on the 21st, 22nd of January that we don’t even know about right now.”"

More… 

I have heard the stories about riot troops being brought into the U.S. , not for release but for active duty here.

I suppose they could’ve been speaking hypothetically, especially with regard to the specific dates given. But thinking further about it, we may conclude that whatever unpopular actions Obama has to take, it would be more politically "correct" to do them quickly, especially because if it is early enough he would be able to justify these drastic actions by trying to correct the catastrophic financial and economical situation the Bush administration has created.

Regards,
Christopher

Jim,

I guess prosecution is out of the question. Perhaps a citizens should attend to the needful. If this, along with everything else, is not guilt beyond reasonable doubt, I don’t know what is.

CIGA Pedro

A Quiet Windfall for US Banks
Monday 10 November 2008
by: Amit R. Paley, The Washington Post

"With attention on bailout debate, Treasury made change to tax policy.

The financial world was fixated on Capitol Hill as Congress battled over the Bush administration’s request for a $700 billion bailout of the banking industry. In the midst of this late-September drama, the Treasury Department issued a five-sentence notice that attracted almost no public attention.

But corporate tax lawyers quickly realized the enormous implications of the document: Administration officials had just given American banks a windfall of as much as $140 billion…

"Did the Treasury Department have the authority to do this? I think almost every tax expert would agree that the answer is no," said George K. Yin, the former chief of staff of the Joint Committee on Taxation, the nonpartisan congressional authority on taxes. "

More…

Posted by & filed under Jim's Mailbox.

Dear Jim,

The Queen of England does not look happy. Are we entering the perp walk phase of the derivative meltdown?

Ciga Ken

Queen baffled at delay in spotting credit crunch
November 6, 2008 – 8:41AM

Queenie

Queen Elizabeth has been given an academic briefing on the origins of the credit crunch and wound up the "lesson" by asking why nobody had seen the crisis coming.

The 82-year-old monarch had the complexities of the current global financial crisis explained to her during the inauguration of a new building at the renowned London School of Economics (LSE).

The origins and effects of the crisis were explained to her by Professor Luis Garicano, director of research at the LSE’s management department, the Press Association reported.

Prof Garicano said afterwards: "The Queen asked me: ‘If these things were so large, how come everyone missed them? Why did nobody notice it’?"

When Garicano explained that at "every stage, someone was relying on somebody else and everyone thought they were doing the right thing", she commented: "Awful."

More…

Dear Ken,

The reason it will probably not happen is because you would have to arrest every international investment bank in the entire world, all their clients and half of both of their staff. After that the Federal Reserve would arrest past Chairmen followed by the Fed arresting itself.

The way the perp walk might happen is if someone really angry who has no clue how pervasive the OTC derivative scam is, like the Queen, demanded a criminal investigation by non-financial incorruptible criminal judges.

Who knows, it could happen.

Regards,
Jim

Dear Mr. Sinclair,

I decided to visit Bloomberg.com this morning to review the market news. Here is what I found. This appears very ugly for the US dollar and wildly bullish for gold.

CIGA Marc

AIG Bailout Swells to $150 Billion as Insurer Reports Fourth Straight Loss
U.S. Stock Futures Rise on China Stimulus Plan, G-20 Call for Lower Rates
Fannie Mae Posts Record $29 Billion Quarterly Loss After Asset Writedowns
Gendell, Scholes Are Losers as Hedge Funds Slide for Fifth Straight Month
Believing in Estimates Means S&P 500 Rallies Record 20% Before 2008 Closes
Circuit City Files for Bankruptcy Amid Competition From Best Buy, Wal-Mart
Deutsche Post Will Eliminate 9,500 More Jobs in U.S., Scale Back DHL Unit
Fed Refuses to Identify Recipients of $2 Trillion Emergency Loans to Banks
Russia Probes Nuclear Submarine Accident in Pacific That Killed 20 People

Dear Marc,

Yes, this and much more is coming at the technical money flow that has created this bear market dollar rally.

Regards,
Jim

Posted by & filed under Guild Investment, Jim's Mailbox.

Dear Jim,

One need only read the following article to see the absurdity of the proposition that the US dollar can stay strong. The interest on this $2.1 Trillion [so far] or excess debt alone will eventually swamp the budget. It is absurd and highly correlated with US money coming back to the US from overseas investing and foreign money coming to the US for a safe haven during a crisis. These are short term events, the dollar’s day in the sun is drawing to a close and soon it will reverse. By the way, after 9/11 the dollar rallied for 4 months and then fell for 7 years. Thus far the dollar rally is about 3 1/2 months old.

Respectfully yours,
Monty Guild
www.GuildInvestment.com

RPT-PREVIEW-US Treasury to expand debt arsenal as deficit rises
Tuesday, November 04, 2008 5:00:06 AM (GMT-08:00)
By David Lawder

WASHINGTON, Nov 4 (Reuters) – Facing the need to borrow up to a staggering $2.1 trillion in the current fiscal year to fund economic rescue programs, the U.S. Treasury is expected to significantly expand its debt securities arsenal.

Analysts anticipate that the Treasury on Wednesday will announce the return of the 3-year note and adopt more frequent offerings of 10-year notes and 30-year bonds. It may also consider more reopenings of shorter maturities.

“They are going to pull out all the stops. There’s a good chance they’ll come back to a quarterly 3-year note, monthly 5-year (note) auctions and increase issuance pretty subtantially across the board,” said Kim Rupert, head of global fixed-income analysis at Action Economics in San Francisco.

The Treasury Department said on Monday it would need to borrow a record $550 billion in the October-December quarter, including a likely $300 billion in financing for Federal Reserve liquidity operations.

The total was $408 billion higher than previous estimates announced in July 2008 due to outlays for economic assistance programs, lower tax receipts and lower issuance of non-marketable debt securities to state and local governments.

More…

Posted by & filed under Jim's Mailbox.

Jim,

Last Thursday afternoon I dropped into the local Suzuki automobile dealer in order to have a look at the new SX4 AWD mini crossover. The sales manager and I got chatting about the economy and as it turns out, he was quite knowledgeable on the subjects that we all read regularly on JSMineset.com. This gent was involved in real estate investing on the side; specifically going to bank auctions, the ones where the bank is doing an absolute auction of properties they have already taken under a prior foreclosure.

He told me that one should not listen to any of the ‘reports’ of housing price declines, because they do not honestly reflect what is going on out there for the educated buyers. He told me that he was at an auction last week of several fairly new 3 bedroom homes on 4 acres across the street from a local lake here in New Hampshire with water rights and they were selling for $35K each at auction. I asked him how much these houses had originally sold for and he said $300K a few years ago!! I asked how many he picked up… he said none! I asked why at 11 cents on the dollar did he not buy anything? He told me that he is watching the stress in the markets closely and he feels they still have much further to go on the downside. His high bid was $25K and that’s all he is willing to pay.

He then told me of a very nicely renovated old farmhouse with attached large barn on an in town city lot of about ½ acre up near the lakes region in NH that was quite valuable that sold for $65K at bank auction a week or so ago. He said the inventories are full of this stuff and it’s going to get much worse. WOW! And none of this is being broadcast anywhere! He explained that he is on a series of auction listing sites which supply him the [real] data and offerings. It’s getting very ugly out there if this is all true information.

CIGA Bruce

CIGA Bruce,

Who said things were much worse internationally than in the good ole USA?

Regards,
Jim