Jim Sinclair’s Commentary
Pakistan, a rolling disaster becoming visible.
The Washington Post recently said that if Pakistan won’t or can’t uproot its home grown terrorists groups, said Robert Kagan, the world would have to step in. The international community should declare parts of Pakistan, "ungovernable" and send troops to help the Pakistan government round up and kill the bad guys.
The article goes on to ask itself "would this violate sovereignty? Of course it will answers the author. He went on to declare that nations should not be able to declare sovereign rights when they cannot control territory from which terrorist attacks are launched.
That seems to me like a slippery slope into financial and geopolitical Armageddon when the nation under discussion is nuclear capable with delivery systems. Keep in mind the military and intelligence is pro-Taliban. It seems to me the first to battle is not the government but rather the military with plans predicated on intel.
This is not Iran, Iraq or Afghanistan that truthfully lacks world class teeth. They do not vaporize their invaders, they just practice the age old strategy of bury your weapons, all fall down, now when the invading nation ensconce themselves, get up, get your weapons and bleed the enemy slowly using ancient technology until the war drains the invading nation to death.
This bunch can throw nukes if they deem themselves to be facing a force beyond their ability to repulse by traditional means, considering it not help but rather invasion. The government that the Washington Post has deemed a non nation’s present government has said, "do not do that." We will consider your offer of help if executed as an invasion of our sovereign territory.
There will be an invasion of Pakistan soon, by someone supported by the USA, GB and Israel. That you can be sure of.
Pakistan ‘linked to 75% of all UK terror plots’, warns Gordon Brown
December 14, 2008
Sam Coates, Chief Political Correspondent, and Jeremy Page, South Asia Correspondent, in Islamabad
Gordon Brown demanded "action, not words" from Pakistan today, blaming Pakistani militants for last month’s attack on Mumbai and revealing that three quarters of the gravest terror plots under investigation in the UK had links to Pakistan.
Winding up a two-day tour of Afghanistan, India and Pakistan, the Prime Minister urged Asif Ali Zardari, Pakistan’s President, to "break the chain of terror" linking Islamist militants in Afghanistan and Pakistan to attempted terrorist attacks in Britain.
British military officials believe there are a "handful" of British militants fighting alongside the Taleban in Afghanistan, often entering the country through northern Pakistan, where al Qaeda and Taleban leaders are thought to be sheltering.
Officials also believe that there are currently around 30 major terrorist plots in the United Kingdom with 2,000 suspects being watched by police and the intelligence services.
"Three quarters of the most serious plots investigated by the British authorities have links to al-Qaeda in Pakistan," said Mr Brown in a press conference alongside Mr Zardari in the presidential palace in Islamabad. "The time has come for action, not words."
Jim Sinclair’s Commentary
The financial problems are behind us? Not a chance. What OTC derivatives did not do, imploding earning and litigation will.
Wall Street shock as Goldman Sachs is expected to post losses of £1.35billion
By DAILY MAIL REPORTER
Last updated at 8:09 PM on 14th December 2008
As the shock waves of former Nasdaq chairman Bernard Madoff’s arrest over an alleged £33.5billion fraud continues to reverberate around Wall Street, dealers in New York are braced for yet more grief from the battered banking sector.
For the first time in a decade as a publicly listed company, Goldman Sachs is expected to report a loss for the fourth quarter tomorrow.
Analysts believe chief executive Lloyd Blankfein could post a loss of £1.35billion caused by further huge write-downs on the value of its investments and a fall in revenues as investment banking, sales and trading activity all take a further downturn.
The firm’s revenue for the first three quarters fell by almost 33 per cent from a year earlier, as investment banking fees dropped 26 per cent and trading and principle investment revenue slid 45 per cent.
Goldman, which converted into a bank-holding company in September to help it survive the global credit crisis, last month slashed about 3,200 jobs or one tenth of its staff.
Jim Comments on President Elect Obama’s appointments:
There are two similarities pervading Obama’s appointees.
1. Harvard University
Therefore decisions made will be from the overeducated and lead to impractical programs and solutions following closely to a liberal manifesto.
There is a tendency when you are surrounded by what boils down to same university fraternity house to have formed a team of YES people.
Jim Sinclair’s Commentary
The good guys at GATA bring this to our attention
Trace Mayer: A problem with GLD and SLV ETFs
Submitted by cpowell on 08:25AM ET Sunday, December 14, 2008. Section: Daily Dispatches
11:20a ET Sunday, December 14, 2008
Dear Friend of GATA and Gold:
In an essay published yesterday, Trace Mayer, an accountant, lawyer, journalist, and proprietor of the Internet site RunToGold.com, has done a wonderful job exposing the weaknesses of gold and silver exchange-traded funds, as those weaknesses are acknowledged in their own prospectuses. Mayer observes, "There is no assurance that the ‘gold’ held in the ETFs is actually the same gold as defined under the periodic table."
Mayer’s essay is headlined "A Problem with GLD and SLV ETFs" and you can find it at Run To Gold here: