Posted at 5:39 PM (CST) by & filed under Jim's Mailbox.

Some mice only learn after the fact…others? Well, they observe.

JB

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Jim/Bill,

Somebody just got tricked…

JB

Court Forces Release of Clinton WikiLeaks Discussion Email that Confirms State Department Knew about Her Email Account — Judicial Watch
September 30, 2019

(Washington, DC) – Judicial Watch announced today that the State Department provided a previously hidden email which shows that top State Department officials used and were aware of Hillary Clinton’s email account.

On December 24, 2010, Daniel Baer, an Obama State Department deputy assistant secretary of state, writes to Michael Posner, a then-assistant secretary of state about Clinton’s private email address:

    Baer: “Be careful, you just gave the secretary’s personal email address to a bunch of folks …”

    Posner answers: “Should I say don’t forward? Did not notice”

    Baer responds: “Yeah-I just know that she guards it pretty closely”

More…

 

Jim /Bill,

This is a good read!

Dave

“There Is No Climate Emergency”: Scientists Call For Reasoned Debate
October 2, 2019

Authored by Richard Trzupek via The Epoch Times,

The message was clear: “There is no climate emergency.”

With those five simple words, a global network of scientists and professionals attempted to inject reasonableness and decorum into what should be a robust discussion about a complex scientific and public policy issue, but has instead degenerated into an ever more intense mud-slinging contest over the years.

People on one side of the argument dismiss their opponents as wild-eyed socialists attempting to leverage public fear and ignorance to further their political agenda. On the opposite side, people dismiss those who disagree with their supposedly settled scientific conclusions as nothing more than knowing shills or ignorant dupes of evil energy interests.

In between those extremes that are so popular with armies of public relations professionals, who shape the messages of public interest groups and professional politicians to maximum effect, are a not-so-quiet silent majority of scientists and professionals who take a more measured, reasoned view of the science when considering the supposed climate emergency some say we’re facing.

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Bill,

I know your email inbox, lately, has been overwhelmed with panic. I thought this article was timely and good.

Dave
October 1, 2019

You didn’t actually think that a couple of indictments were going to change things, did you? By now you must understand that The Banks will continue to manage and rig prices until the time comes that it is no longer profitable for them to do so.

In case you need a summary of recent events, please take time to review these three links:

What was once dismissed as “conspiracy theory” is instead becoming widely understood as “historical fact.” Yes, the market-making Bullion Banks seek to manage price for their benefit, and yes, gold price management dates back to the 1950s. However—and despite the recent indictments—these illegal schemes continue to this day.

Case in point? Last week.

https://www.sprottmoney.com/Blog/bank-gold-price-manipulation-continues-craig-hemke-01-102019.html

 

Bill,

Brandon does a good job on this.

Dave

Brandon Smith: Trump Cannot Be Anti-Globalist While Working With Global Elites
October 2, 2019

Authored by Brandon Smith via Alt-Market.com,

In the summer of 2016 during the election campaign I examined the Trump phenomenon and how it relates to the globalist narrative. I concluded that Trump would be president based on the fact that having a (supposedly) hardcore nationalist and populist conservative in the White House over the next four years would in fact be highly beneficial to the elites. At the time the Federal Reserve was getting ready to tighten liquidity, which would inevitably lead to market volatility and a crash in fundamentals. By the end of Trump’s first term, or perhaps at the beginning of his second term, the recessionary crisis would become obvious to the general public. Trump, and all conservatives, would be blamed for the resulting disaster that the banking elites engineered.

During the election it was unclear to me if Donald Trump was a puppet of the elites. He could have simply been a convenient scapegoat for the coming crash. Today, it is obvious that he is indeed controlled opposition.

As I’ve noted in numerous articles, Trump’s associations with the globalists go way back. He was saved by the Rothschild banking family from crippling debts in multiple property developments in Atlantic City during the 1990’s. The Rothschild agent that handled Trump’s bailout was none other than Wilbur Ross, the senior managing director of Rothschild New York. Ross is now Trump’s Commerce Secretary, which indicates that his relationship to the Rothschilds continues to this day.

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Jim/Bill,

We said a long time ago that the petro-dollar was dead and China was going to kill it without firing a shot.

Dave

Iran Is China’s Secret Weapon for Killing off the US Dollar’s Global Reserve Status
October 3, 2019

There is a strong current of change affecting the international political arena. It is the beginning of a revolution brought on by the transition from a unipolar to multipolar world order. In practice, we are faced with the combination of several factors, including the application of US tariffs on Chinese exports, Washington’s sanctions on Iran, US energy self-sufficiency, the vulnerability of Saudi industrial facilities, and Iranian capabilities for resisting US attacks, as well as its exportation of large quantities of gas and oil to China. Everything converges on one factor, namely, the looming decline of the US dollar as the global reserve currency

We have recently been witnessing events of considerable importance in the Middle East, almost on a daily basis. The tensions between Washington and Tehran are fueled above all by the Trump administration’s need to placate most of the US deep state, wedded to neoconservativism, who march in lockstep with Trump’s financiers from Wahhabi Saudi Arabia and Israel.

The aggressive policy towards Tehran, consisting of provocations and false-flags, has recently resulted in the type of public-relations disaster for the US military-industrial that I have anticipated for years would happen.

The attack by Yemen’s Houthis struck two major oil installations in the Kingdom of Saudi Arabia, exposing the shortcomings of the very expensive American Patriot air-defense systems.

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JB responds to the Brandon Smith article. I personally do not believe Mr. Trump is a cabal puppet. I may end up being sorely disappointed but as it stands now I don’t think so…
Bill

Bill,

This is just me venting. I love Dave’s views, it is truly a necessary voice, but then again, I still have doubts about his “everything is the same as before viewpoint’ and that this kabuki theater show does not have a rogue actor in it…comparing past and present has many facets, how about looking at that which is not comparable?

Let’s ignore all the things this president, who is “obviously” part of the cabal (as this writer suggests), but ignore the things that stand out as a “WFT?” if he is truly part of the banking sector cabal? Q (a branch of communication to bypass the cabal owned one-sided rigged media) has revealed more evidence of pedophilia, and the linked crimes of not only the Clintons and their Foundation, or Uranium One, or Fusion GPS, but let us also ignore the facts that MI 5 & 6 are now part of an investigation into crimes of trying to steal an election (are they cooperating?). Let us forget the facts that under the past administration an airplane that, might have been caught in a case of mistaken identity, was shot down at the same time the president of another country was rumored to be in Ukrainian airspace, with the bullet holed riddled fuselage of the crashed passenger plane videoed at the smoldering and smoking crash site.

Then let us forget the Judicial Watch Groups accusations finally gaining traction because this cabal picked president is allowing FOIA releases compared to how many denied? Or the past presidents absolute need for secrecy restricting this FOIA flow? Let us also forget the Veritas Video’s revealing who is controlling the crazies, who tried to use any action possible, who is controlling unions with almost all union fees going directly to one party (and GM’s Union strike going on right now). Let us also forget that the 9/11 investigation has been officially re-opened.

Let us also forget everything else we know is happening right now, like JPMorgan’s 3 guilty pleas, and the idea, that this is the first time the Morgue has ever been called a Criminal Element by the DOJ, when they have successfully kept that from happening since 1913 with the help of the cabal. Only then I can believe this article is correct in every way .. as long as I refuse to look at what’s different from this cabal elected president compared to the past cabal elected … Oh yeah, I love how this cabal elected president was allowed to out another royal pedophile directly related to the queen and Epstein Island which was a major part of the Clinton’s past travel plans. That must have been planned too, to make sure people believe this elected president is a card-carrying cabal member.

I am not as convinced as Dave is that Trump is on the side of the banker squad. If he is a cabal member, he simply may not be a good one … Just like he’s very bad at being a racist …. Besides, if one is a billionaire (I obviously am not), you may have no choice but to deal with criminals in $40k suits or pantsuits and/or royalty in banking …. Or the other idea, most cabal members are heavily involved in the stock market, yet this actor is?

I feel better now…Hope your day is good.

JB

Posted at 4:17 PM (CST) by & filed under In The News.

J. Johnson’s Latest – Our Currency Watch Continues To Prove The Precious Metals Rally
October 3, 2019

Great and Wonderful Thursday Morning Folks,   

      Day 4 of the week still shows positive price movements for both precious metals (at least in the very early morning) with Gold leading the way at $1,510.70, up $2.80 and close to the high at $1,511.70 with the low at $1,501.70. Silver is flat to higher at $17.70, up 1.7 cents with the high close by at $17.795 with the low down at $17.55. The US Dollar is flat to lower with the value pegged at 98.66, down 2.9 points closer to the low at 98.62 than the high at 98.875. All of this flatness happened before 5am pst, the Comex open, and the London close.   

      Our emerging markets currency watch continues to prove the rally and now shows Gold trading under the Venezuelan Bolivar at 15,088.12 showing a gain of 185.77 Bolivars with Silver at 176.779 Bolivar showing it too gained 3.546 Bolivars since yesterday morning. In Argentina, Gold holders now see its price at 87,358.71 Pesos, adding another 4 digits of value (1,229.73 Pesos) to the left of the decimal with Silver now trading at 1,023.65 Pesos proving it too gained 2.3653 Pesos in the overnight. The Turkish Lira now has Gold priced at 8,600.99 showing it gained 55.33 Liras with Silver at 100.773 showing it gained 1.4339 in T-Lira value.      

      Our October Silver Delivery Demands lost a little ground yesterday but nowhere near earlier with the total count now at 491 Demands for physical and with Zero Volume posted up on the board so far this morning. This demand count proves 54 Obligations where delivered upon either here or in London with no trading range to view so far today. Even though Silver rallied a little yesterday, the shorts didn’t leave nor did any longs as the Overall Open Interest gained 359 more positions giving us 212,658 Overnighters duking it out in the arena of play as the deliveries continue to dry up supply of the real all the while cash is being printed in order to keep the markets moving.   

More…

Jim Sinclair’s Commentary

Is the dollar up or are all other currencies down?

The Euro Has Kept Falling. Investors Wonder How Low It Can Go.[Subscription Required]
October 3, 2019

The euro has drifted toward its lowest levels against the dollar in years as Europe takes the brunt of a global growth slowdown. Investors are now questioning: How low can it go?

The currency briefly sank below $1.09 this week, the lowest since May 2017 and not far off the levels below $1.04 last reached in 2003.

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Jim Sinclair’s Commentary

The key to a currency union is a predetermined method of exit. Major countries in Africa are considering a single currency. I rather hope they learn the lesson of the Euro and write into the agreement the method, means, and agreement also for an exit.

U.K. Farmers Rush to Sell Produce Ahead of October Brexit Deadline .[Subscription Required]
October 3, 2019

British farmers are racing to ship this year’s abundant harvest out of the U.K. by Halloween, when Brexit could pull the country out of the world’s biggest free-trade zone overnight.

Leaving the European Union without a deal—as Prime Minister Boris Johnson has pledged to do at the end of October if the bloc doesn’t meet certain demands—would hit British agricultural exports with customs duties, extra paperwork and checks on animal and plant health.

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Jim Sinclair’s Commentary

The bottom line, who decides what constitutes illegal content? It is a broad definition. This is a difficult question because who decides? Who watches the watchmen? Who decides what is illegal? Who censors the censors?

EU’s Top Court Backs Global Removal Of Illegal Content On Facebook.[Subscription Required]

Jim Sinclair’s Commentary

Anybody who puts a tariff on, taxes themselves. Tariffs do nothing but backfire until everything is more expensive. Since we have a currency that has a number before the decimal point, everybody pours in the dollar. When the dollar rises is more than 20%, all the prices of our goods and services go up 20%.

U.S. to Put Tariffs on European Planes, Whiskey, Cheese After WTO Ruling
October 3, 2019

The price of Scotch, French wine, cheese and other European exports is about to go up in the U.S. after the Trump administration announced new tariffs on billions of dollars of EU products starting Oct. 18.

President Donald Trump got the go-ahead from the World Trade Organization to impose tariffs on as much as $7.5 billion worth of European exports annually in retaliation for illegal government aid to Airbus. The award is the largest in WTO history.

However, there was relief for some firms as the U.S. removed leather goods from its original proposed list and measures on wine and spirits weren’t as severe as some expected. Shares of European luxury companies gained after a Wednesday slide on concerns about tariffs and falling sales in the key Hong Kong market. LVMH gained as much as 2.4%, Kering SA ticked up as much as 1.7%, and Hermes International by 1.4% in European trading on Thursday.

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Posted at 11:05 AM (CST) by & filed under In The News.

A Second Day Price Rise In Silver And Gold, Plus Another Nuthingburger!
October 2, 2019

Great and Wonderful Wednesday Morning Folks,   

      This is the second day in a row where we see Gold trading higher than the previous day with the price at $1,492.10, up $3.10 after reaching up to $1,494.10 with the low at $1,480.50. Silver is tagging along today with the trade at $17.345, up 4.8 cents and closer to the high of $17.395 than the low at $17.240. The US Dollar is also under support (for different reasons) with its value pegged at 98.865 up 8.8 points after stretching up to 99.08 with the low close by at 98.740. All of this was done, before 5 am pst, the Comex open, and the London close.    

      We have nothing but solid gains in our emerging markets overnight currency watch with Gold trading at 14,902.35 Bolivar in Venezuela showing a healthy gain of 181.77 in Bolivar value with Silver at 173.233 Bolivar showing a gain of 1.847 over the past 24 hours. Argentina’s Peso now has Gold priced at 86,128.98, gaining 1,250.94 Pesos with Silver gaining 11.873 in Peso value with the price at 999.997 Pesos. The Turkish Lira now has Gold valued at 8,545.66 showing a gain of 162.72 in the overnight with Silver gaining 1.7339 Lira with the value pegged at 99.3391 Liras.    

      Silver Deliveries for the month of October really took a hit in count with the demands for physical now at 545 fully paid for contracts involving 5,000 ounces each proving a drop of 519 Obligations that where either delivered here or in London since yesterday’s early morning count. This morning’s trading range is in between $17.285 and $17.155 so far and with a Volume of 6 up on the board with the highest price being the last trade. Silver’s Overall Open Interest is continuing to drop in count as well. If the option numbers are any indication that an exit plan has been arranged a few years ago, we will see a slow and continuing drop in count from this point forward with the total Open Interest tally now at 212,299 Overnighters, proving a reduction of 1,068 from yesterday’s early morning count.    

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Bill Holter’s Commentary

This is only the beginning…!

NYC Housing Prices In Near ‘Free Fall,’ Conditions Mirror Recession Era Following Tax Hikes
October 1, 2019

NEW YORK – The Manhattan real estate market stumbled in the third quarter of 2019, new reports show, as prices plunged and fewer buyers were willing to purchase higher-priced properties in the wake of two recent tax increases.

The median sales price for properties fell 17 percent from the same quarter last year, to $999,950, according to new data from CORE. The average sales price dropped 12 percent, to $1.64 million.

Condo sales fell 8 percent, logging 946 transactions. Co-op sales, on the other hand, were up a modest 2 percent year over year.

“The third quarter of 2019 was undoubtedly the most challenging quarter in recent memory, especially for condo sales,” Garrett Derderian, managing director of market analysis at CORE, said in a statement. “Market prices have gone from what was once described as the kindest, gentlest correction to a near free-fall. The last time conditions were described in such a way was in the height of the recession.”

More…

Posted at 11:00 AM (CST) by & filed under USAWatchdog.com.

By Greg Hunter’s USAWatchdog.com

Top trends researcher Gerald Celente says if the Democrats impeach President Trump, the markets will tank and cause what he is forecasting to be the “Greatest Depression.” Celente explains, “What’s going to happen, as this impeachment process intensifies, go back to what happened when ‘Slick Willie’ Clinton got impeached, you saw the DOW go down almost 20% into correction territory. Now, it’s different than in 1998 because we still had growth going on. If this market goes down, it’s going to go down real hard because it’s already artificially being propped up with monetary methadone that morons and imbeciles call quantitative easing and negative and zero interest rate policy. So, now, when this thing goes down from the pressure of impeachment, there is nothing to hold it back up. . . . We have a global slowdown. We have pressure all over the world . . . . Economies have been artificially propped up, and the monetary methadone is wearing off. The addicted bull is ready to go under.”

Celente adds, “So, when you go back to impeachment, we look at a global economic process putting all the pieces together, and you have to look at what this is going to do in the climate that we are in. When this impeachment pressure starts hitting and hitting and hitting, the markets are going to collapse globally. . . . It will cause all the global markets to go down because the United States is the only semblance of a strong economy, and it’s weakening.”

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Posted at 8:22 AM (CST) by & filed under Jim's Mailbox.

Jim,

As I said on Saturday, America is being distracted from events “the powers that be” do want them to see.

Dave

The Real Reason Behind Democrats Impeachment Of Trump
September 29, 2019

The general debate of the General Assembly opened on Tuesday, 24 September at 9:00 a.m. (New York time). This year’s theme was “Galvanizing multilateral efforts for poverty eradication, quality education, climate action and inclusion”.

The internal properties of the C.I.A. newly revised “Disclosure of Urgent Concern” form, which the intelligence community inspector general (ICIG) requires to be submitted under the Intelligence Community Whistleblower Protection Act (ICWPA), show that the document was uploaded on September 24, 2019, at 4:25 p.m.

Thus, at some point on September 24th the C.I.A. decided to move forward with the Operation Impeachment, and uploaded an amended “Disclosure of urgent Concern” form to cover their asses with a fig leaf. They did this in response to something that was said during the day of September 24th at the UNGA and to what was about to be said the following sessions. The C.I.A. decided that Nancy Pelosi’s full statement on launching Trump impeachment inquiry will be sufficient enough scandal to detract the Media and the public from statements being made by the leaders and representatives of many nations. Pelosi announced a formal impeachment inquiry on September 24th at noon. So, the C.I.A. posting a revised “Disclosure of Urgent Concern” form four hours later was an afterthought. See the complete story here.

It shows that they had Trump phone conversation with the Kievan mamzer set aside to use when there is a need to create a side-show, but they weren’t completely ready for the UN General Assembly because they didn’t know about the diplomatic demarche and learned about it at the last moment.

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Courtesy of Dave.

Bill

Global Warming And The Ozone Layer: What’s More Dangerous, CO2 Or Nuclear War?
September 29, 2019

. . .

Global Warming. The Concepts

While climate activists express their concern regarding the nefarious impacts of global capitalism on climate, including those pertaining to militarization (and defense spending), the scientific analysis of climate under the auspices of the IPCC  largely focusses on a single variable: Carbon Dioxide (CO2), i.e. the impact of increased emissions of CO2 derived from fossil fuels (including fracking) on average global temperature.

Depletion of the ozone layer is what triggers global warming. The ozone layer is in the Earth’s stratosphere. “Ozone is constantly being produced and destroyed naturally. This ozone layer filters out ultra-violet (UV) rays from the Sun and protects life on Earth.”

Greenhouse gas emissions affecting the ozone layer largely consist of water vapor (50%), carbon dioxide (CO2) (20%) and clouds (25%).  The remaining greenhouse gases (5%) is made up of small aerosol particles, methane (CH4) and nitrous oxides (N2O) (both a greenhouse gas as well as an “ozone destroyer” with devastating impacts on climate). (approximate figures provided by NASA for 2011).

Decrease of the ozone layer “will increase the amount of Ultra Violet radiation reaching the Earth’s surface, and worsen the impacts due to UV exposure.”

More…

Jim/Bill,

A 4-minute truth bomb.  You know the truth when you hear it.

CIGA Chuck

 

Jim/Bill,

WOW!

CIGA Wolfgang Rech

Imagine what the interest expense would look like if interest rates were normalized…?

Bill

1,015,736,491,184 reasons to have a Plan B
October 1, 2019

Precisely one year ago today, the US federal government opened Fiscal Year 2019 with a total debt level of $21.6 trillion:

Specifically, the US federal debt on October 1st last year was $21,606,948,183,180.23

Today is the start of the government’s 2020 Fiscal Year. And the total debt is now $22,622,684,674,364.43

That means they accumulated more than $1 TRILLION in new debt over the course of the 2019 Fiscal Year.

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Jim/Bill,

Here’s some food for thought…..

The headline below is somewhat misleading.

As Dollar Reaches Record High

It’s not the Dollar that is soaring, but instead, other currencies that are crashing!

A bit simplistic but, much overlooked and very, VERY significant.

CIGA Wolfgang Rech

As Dollar Reaches Record High, Trump Slams “Clueless, Pathetic” Fed
October 1, 2019

On the heels of dismal manufacturing data, and soaring dollar strength vs global fiat currencies, President Trump has lashed out at who he feels is responsible…

“As I predicted, Jay Powell and the Federal Reserve have allowed the Dollar to get so strong, especially relative to ALL other currencies, that our manufacturers are being negatively affected. Fed Rate too high. They are their own worst enemies, they don’t have a clue. Pathetic!”

Indeed, with the broad dollar index at an all-time record high…

More…

Posted at 8:18 AM (CST) by & filed under In The News.

J. Johnson’s Latest – The World Seems To Be On The Verge Of Change
October 1, 2019

Great and Wonderful Tuesday Morning Folks,   

      October 1st greets us with a positive price for the precious metals with Gold trading at $1,473.90, up $1 after reaching up to $1,480.90 with the low at $1,465.00. Silver is leading the trade at $17.16, up 16.2 cents and close to its high of $17.185 with the low at $16.940. The currency that’s keeping it all together is the US Dollar, with its value pegged at 99.10, up 7.9 points after reaching up to 99.235 with the low that is too high at 99.030. All of this was done before 5 am pst, the Comex open, and the London close.    

      In Venezuela Gold is now priced at 14,720.58 Bolivar, still losing value as their currency strengthens with Silver priced at 171.386 Bolivar showing a reduction of 0.699 in value. Argentina’s Peso now has Gold priced at 84,878.04 showing a 521.40 Peso reduction with Silver at 988.124, proving a gain of 0.462 in A-Peso value. The Turkish Lira now prices Gold at 8,382.94 shaving off 28.28 T-Lira with Silver at 97.6052 gaining 0.3333 Lira’s.   

      October Silver Deliveries now show the demand count at 1,064 fully paid for contracts waiting for receipts proving a reduction of 109 obligations during yesterday’s trade and with a Volume of 2 up on the board so far this morning with a trading range between $16.96 and $16.925 with the last trade the high so far. Silver’s Total Open Interest drives the direction with the count now at 213,367 Overnighters showing a reduction of 5,465 from yesterday’s early morning count which may be proving some of the paper longs exiting but with the way things are these days who really knows?      

More…

Bill Holter’s Commentary

The bottom line is this, no paper currency can or will survive the fire of the coming defaults. The dollar may be the cleanest dirty shirt in the laundry basket today but the entire basket will catch fire. It is the dollar system (post 1971) itself that allowed the over use of debt in all currencies. As an aside, the “confessions of an economic hitman” suggests over levering foreign central banks and treasuries has been a plan all along? .56 on the USDX, par, or even 120 will be a moot point when all is said and done because anything times zero is still zero…

The US Dollar Beast
October 1, 2019

John Maynard Keynes (1883–1946) explains very well how to predict the winner of a beauty contest successfully. You must, he noted, think along the following lines: “(…) each competitor has to pick, not those faces which he himself finds prettiest, but those which he thinks likeliest to catch the fancy of the other competitors (…). It is not a case of choosing those which, to the best of use of one’s judgment, are really the prettiest, nor even those which average opinion genuinely thinks the prettiest. We have to reach the third degree where we devote our intelligences to anticipating what average opinion expects the average opinion to be.”1

This is a perspective that those may wish to take into consideration who think the US dollar is about to collapse, would be the ugliest of all currencies. Latest data from the Bank of International Settlement (BIS) speaks a rather different language. In its 2019 Triennial Survey,2 the BIS informs us that daily trading in foreign exchange markets had reached 6.6 trillion US dollar per day in April 2019 – compared to 5.1 trillion US dollar three years earlier – and that the US dollar remained the single-most important currency in the FX markets, being on one side of 88% of all the trades. For comparison: the euro was on one side of 32% of all trades, the Japanese yen of 17%, and the Chinese renminbi of just 4.3%.

More…

Posted at 9:45 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

This is a very interesting article, the first two paragraphs are exactly correct.

Hedge Fund CIO: You Should Be Buying Vol – MMT Is Coming Next And It Will Be Preceded By An Explosion In Volatility
September 29, 2019

Submitted by Eric Peters, CIO of One River Asset Management

We’re approaching a redistribution,” said the macro CIO, swinging through NY. We were discussing trades, themes, the big picture. “What lies behind us were all good things for asset owners, and what lies ahead is in many respects the opposite.” We were eating at some Greek place. “Investors rode a trend based on stock buybacks, high profit margins (which are the inverse of low wages), low taxes, and loose regulation of technology,” he said, holding up four fingers. “Now think about what lies ahead.” And he lowered each finger into a closed fist.

We hit peak inequality and it sparked a political response across the globe, I said. And it occurred at a time when monetary policy has largely hit its limit – those two things are obviously related. So now markets bump along with investors scrambling for sources of scarce yield, accepting more risk for less return, until something goes wrong – then the profound changes that are happening beneath the surface become clear. That’s when we see an enormous fiscal response, whether we call it MMT or not won’t matter. That’s what’s coming next.
“I spend a lot of time in Tokyo,” said the same CIO, dropping heavy names from his recent visit. “I’ve been pressing them for years to get seriously aggressive. When the government can borrow for 20-years at -0.20% in a nation filled with so many smart scientists, how can you not issue bonds and invest massively in primary science? Surely you’ll earn a positive return on that kind of investment – that’s not building bridges to nowhere,” he said. “But my contacts there can’t seem to wrap their heads around anything that challenges their orthodoxy.”

Established economic and political interests created myths about how economies work, I said in response. Entrenched interests fear change and will do everything possible to maintain the status quo. They created what we now call economic orthodoxy. But according to it, all this QE would have sparked massive inflation. Japan’s 250% Debt/GDP would have provoked economic collapse. But these things haven’t happened, because the myths are not truths. And as the faith in orthodoxy melts, established interests will fall, real change will come.

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J. Johnson’s Latest – The Beatings Continue, But So Do The Call Options Purchases in Silver!
September 30, 2019

Great and Wonderful Monday Morning Folks,   

      Today is the last day of our fiscal year (US federal government) and as usual the morality beatings continue with Gold trading at $1,489.80, down $16.60 after being pushed down to $1,486.20 with the high at $1,507.20. Silver is still being used as the Red Headed Step Child with its trade at $17.23, down 42.2 cents after being knocked to $17.16 with the high at $17.66. The US Dollars trade, on the last day of the year, is at 98.925, up 16.4 points and close to the high at 98.965 with the low at 98.71. All of this nonsense happened before 5 am pst, the Comex open, and the London close.   

      Everything we are seeing in the currency’s arena is all about the support of the internationally accepted US Dollar mechanism (for now) with the emerging markets taking hits as well. In Venezuela, Gold is now trading at 14,879.38 Bolivar down 1,168.50 over the weekend with Silver losing 4.845 with its super sale price now at 172.085 Bolivar. In Argentina, Gold is trading at 85,399.44 Pesos showing a reduction of 436.70 with Silver at 987.662 Pesos showing a reduction of 25.088. In Turkey, Gold’s price is at 8,411.22 Lira showing it too lost 84.98 with Silver at 97.2719 losing 2.9681 in T-Lira value.    

      October Silver Deliveries are now in full swing with the count at 1,173 fully paid for 5,000-ounce contracts and with a Volume of 25 up on the board so far today with a trading range of $17.505 and $17.165 with the last trade being the low and a single lot order. This is only 5,865,000 Ounces of a product that is needed in just about all electronics and showing only a slight 33 count reduction from Fridays tally. We know the criminal element is still allowed to trade precious metals, what we don’t know is what deal they made with the last administration and if that deal will be removed by Trump or if we’re to wait for the last bar to leave but one thing for sure is, the Resolutes are still Resoluting!    

More…

Jim Sinclair’s Commentary

My experience with China is that you don’t kick a sleeping dragon.

Hong Kong Protesters Taunt Beijing in Bid to Spoil Communist China’s Birthday
September 30, 2019

HONG KONG—Protesters here have dialed up attacks against the Chinese Communist Party ahead of mass demonstrations planned for the 70th anniversary of the People’s Republic of China on Tuesday, renewing momentum for the protest movement by shaping it as a fight against authoritarianism.

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China Quietly Doubles Troop Levels In Hong Kong, Envoys Say
September 30, 2019

Last month, Beijing moved thousands of troops across the border into this restive city. They came in on trucks and armored cars, by bus and by ship.

The state news agency Xinhua described the operation as a routine “rotation” of the low-key force China has kept in Hong Kong since the city’s handover from Britain in 1997. No mention was made of the anti-government protests that have been shaking the metropolis since June.

It was a plausible report: China has maintained a steady level of force in the territory for years, regularly swapping troops in and out. And days earlier, according to an audio recording obtained by Reuters, embattled Hong Kong leader Carrie Lam had told local businesspeople that China had “absolutely no plan” to order the army to put down the demonstrations.

A month on, Asian and Western envoys in Hong Kong say they are certain the late-August deployment was not a rotation at all, but a reinforcement. Seven envoys who spoke to Reuters said they didn’t detect any significant number of existing forces in Hong Kong returning to the mainland in the days before or after the announcement.

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Jim Sinclair’s Commentary

In the last two weeks, this headline is almost a daily event. It has greater implications than most reports are willing to give. If you take a look back, every time we have a systematic financial problem, the first market to start showing it is the repo market. It could be that a cashless society is not the great idea that everybody says it is.

Fed Adds $63.5 Billion To Financial System In Repo Transaction
September 30, 2019

The Federal Reserve Bank of New York added $63.5 billion to the financial system Monday, using the market for repurchase agreements, or repo, to relieve funding pressure in money markets.

Banks asked for $63.5 billion in overnight reserves, all of which the Fed accepted, offering collateral in the form of U.S. Treasury and mortgage securities.

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Jim Sinclair’s Commentary

The administration is backing off of their blanket statement, and that even should be considered last week’s news.

Exclusive: Nasdaq Cracks Down On Ipos Of Small Chinese Companies
September 29, 2019

(Reuters) – Nasdaq Inc (NDAQ.O) is cracking down on initial public offerings (IPOs) of small Chinese companies by tightening restrictions and slowing down their approval, according to regulatory filings, corporate executives and investment bankers.

Nasdaq’s attempt to limit these stock market flotations comes as a growing number of them end up raising most of the capital in their IPO from Chinese sources, rather than from U.S. investors.

The shares of most small Chinese companies trade thinly following their U.S. listing, because most of them stay in the hands of a few insiders. Their low liquidity makes them unattractive to many large institutional investors, to whom Nasdaq is seeking to cater.

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Jim Sinclair’s Commentary

The following is the party line of the operative thought that this is the first time since the Great Recession, and is not occurring because it is simple technical reasons.  You must find the real reason why this is happening.

The New York Fed Chief Is Facing His Biggest Test. Here’s His Response.
September 29, 2019

John C. Williams, president of the Federal Reserve Bank of New York, has spent the past two weeks grappling with the regional bank’s most tumultuous period in years.

Since Sept. 16, a shortage of dollars in an obscure but crucial corner of short-term Wall Street funding, called the repo market, has forced the New York Fed to engage in an ongoing series of market interventions — a first since the Great Recession. The effort is an attempt to keep the central bank’s benchmark rate from accidentally creeping higher.

The situation is the biggest test so far for Mr. Williams — who took the helm of the New York Fed in June 2018 — and one that many market analysts say deserves a less-than-stellar grade.

While officials have succeeded in getting interest rates under control, some investors have criticized the Fed for moving too hesitantly when problems first arose, waiting until rates on repurchase, or repo, agreements had skyrocketed and briefly spilled over, pushing the Fed’s benchmark rate above its intended range.

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Jim Sinclair’s Commentary

The market is driven heavily by computer decisions devoid of fear and greed. As long as momentum continues up, prices continue up.

U.S. Stocks Rise to Cap Volatile Quarter
September 30, 2019

The S&P 500 jumped Monday, on track to enter the fourth quarter with its biggest year-to-date gain in more than two decades.

The broad stock-market index has rallied 19% this year—its best performance in the first three quarters of a year since 1997. The advance comes alongside a rally in both bonds and commodities.

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Jim Sinclair’s Commentary

The scramble for yields is a primary reason for the appreciation of the dollar. It is one of the few currencies, and the only major currency to exist, with a number before the decimal point.

Investors Scramble for Yield as Growth Outlook Darkens
September 30, 2019

This article is part of the Journal’s quarterly markets review, “Investing in a Low-Yield World.”

The world is again running low on yield.

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Jim Sinclair’s Commentary

The entire world is experiencing economic reversal as US figures announce a questionable miracle of a boom of all time.

Beijing Takes Stakes in Private Firms to Keep Them Afloat
September 30, 2019

SHANGHAI—China is snapping up stakes in private companies at a record rate, as the trade war, economic slowdown and credit squeeze heap pressure on entrepreneurs.

The investments mark a reversal after decades in which state-owned enterprises have shrunk in importance, as reflected in measures such as their share of the workforce or asset ownership. Since China’s public-sector companies are typically less efficient or innovative than their private rivals, the shopping spree could lead to a fresh drag on growth.

Private enterprises are in a weaker position because they have comparatively poorer access to cheap bank loans and other types of financing, and have also been squeezed by Beijing’s moves to reduce pollution and overproduction.

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Jim Sinclair’s Commentary

What is not a technology share?

Apple And Merck Drive Wall Street Higher As Trade Worries Abate
September 30, 2019

(Reuters) – U.S. stocks rose on Monday, helped by surges in Apple and Merck & Co as investors set aside worries about the U.S.-China trade war.

Shares of Apple (AAPL.O) rose 2.4% after Chief Executive Officer Tim Cook told a German daily that sales of the company’s newest iPhones were off to a strong start, while JP Morgan raised its forecast for shipment volumes. Apple is struggling to reverse shrinking iPhone sales amid tepid global demand for smartphones.

The S&P 500 technology index .SPLRCT and the health care index .SPXHC both added about 1.3%, leading other sectors.

Sentiment on Wall Street also got a boost after White House trade adviser Peter Navarro dismissed reports that the Trump administration was considering delisting Chinese companies from U.S. stock exchanges as “fake news.”

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Posted at 11:19 AM (CST) by & filed under Jim's Mailbox.

Jim/Bill,

As we said what could go wrong?

Dave

CREsh Begins: London Property Market Hit As WeWork Deal Falls Through
September 27, 2019

In an ominous sign for the commercial real-estate market, a large Singaporean investment firm has walked away from an £850 million ($1.04 billion) deal to buy Southbank Place, an office building near London’s Waterloo Station that boasts one of the largest WeWork spaces in the world, the FT reports.

The deal collapsed shortly after WeWork called off its IPO, and is now scrambling to sell off businesses and assets like its corporate jet to raise capital. Since the offering was abandoned, not only is the company missing out on $3 billion that it was set to raise in the public markets, but it’s also losing out on a $6 billion loan that was contingent on the IPO.

Notably, this isn’t the only deal for a WeWork-occupied London office building that has fallen through recently.

Sources close to the deal blamed local factors like Brexit-related uncertainty and the expense of pulling out of a refinancing deal between the seller and an asset management firm that refinanced the development earlier this year. Supposedly, the seller, a firm with ties to Italy’s Agnelli family, backed out of the deal, despite having put the building on the market.

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Jim,

I brought this up on Saturday.

Dave

https://en.wikipedia.org/wiki/Weather_modification_in_North_America

http://www.nawmc.org/

Questions & Answers
For what purposes is weather modification practiced?

Weather modification, commonly referred to as cloud seeding, is currently used to increase precipitation from clouds, reduce hail from thunderstorms, and eliminate fogs that reduce visibility, usually at busy airports.

How does cloud seeding work?

Cloud seeding improves a cloud’s ability to produce precipitation by adding tiny particles called ice nuclei (which water needs to freeze) to a cloud. These nuclei help the cloud produce precipitation by acting on supercooled liquid water (SLW), the raw material from which precipitation is formed. These artificial ice nuclei promote freezing of SLW at warmer temperatures than it would naturally, accelerating the precipitation process and making more efficient use of the water in the cloud.

 

Jim,

This was discussed on Saturday. Does anyone see a pattern?

Dave

Greta Thunberg and Big-Biz’ Climate Charade
September 27, 2019

. . .

Greta Thunberg’s story isn’t one of inspiration and activism – it is one of child exploitation, one of manipulating public perception, and one of re-entrenched special interests desperately seeking an audience – any audience – still gullible enough to believe in and help reconstruct the facades used to cover up their otherwise transparent and self-serving agenda.

The environment needs to be saved, but not by big-business’ “Fridays for Future” charade.

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The Nayirah testimony was a false testimony given before the Congressional Human Rights Caucus on October 10, 1990 by a 15-year-old girl who provided only her first name, Nayirah. The testimony was widely publicized, and was cited numerous times by United States senators and President George H. W. Bush in their rationale to back Kuwait in the Gulf War. In 1992, it was revealed that Nayirah’s last name was al-Ṣabaḥ (Arabic: نيرة الصباح‎) and that she was the daughter of Saud Al-Sabah, the Kuwaiti ambassador to the United States. Furthermore, it was revealed that her testimony was organized as part of the Citizens for a Free Kuwait public relations campaign, which was run by the American public relations firm Hill & Knowlton for the Kuwaiti government. Following this, al-Sabah’s testimony has come to be regarded as a classic example of modern atrocity propaganda.[1][2]

https://en.wikipedia.org/wiki/Nayirah_testimony