Posted at 11:06 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

I can still remember the days when actual due diligence was done prior to an IPO being offered…

Blue Apron Plans to Cut 24% of Staff Barely a Month After IPO
August 4, 2017

Blue Apron Holdings Inc. is cutting almost a quarter of its staff barely a month after its initial public offering as the meal kit delivery company struggles to become a profitable business.

The company is cutting 1,270 jobs from its New Jersey facility according to a public notice Friday. It had 5,202 workers as of March 31.

Last month the company said Chief Operating Officer and co-founder Matt Wadiak is stepping down. Blue Apron has been battered by the public market following a disappointing IPO in June. Its shares have tumbled 37 percent since then.

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Bill Holter’s Commentary

Does he think coming clean now will save his legacy from ruin?

Greenspan: Bond Bubble About To Break Because Of ‘Abnormally Low’ Interest Rates
August 4, 2017

Former Federal Reserve Chairman Alan Greenspan issued a bold warning Friday that the bond market is on the cusp of a collapse that also will threaten stock prices.

In a CNBC interview, the longtime central bank chief said the prolonged period of low interest rates is about to end and, with it, a bull market in fixed income that has lasted more than three decades.

“The current level of interest rates is abnormally low and there’s only one direction in which they can go, and when they start they will be rather rapid,” Greenspan said on “Squawk Box.”

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Jim Sinclair’s Commentary

There was a time when this was the home of many heroes. Now it is sneak city operating against it own for political reasons.

Wikileaks Release Docs On How The CIA Is Hacking Your Webcams
August 3, 2017

Wikileaks released new Vault 7 documents on Thursday, which discloses information on the CIA’s “Marble” software, used to disguise cyber attacks.

The documents that were published give insight on the CIA’s code-named ‘Dumbo’ project.

From a WikiLeaks press release:

Dumbo is a capability to suspend processes utilizing webcams and corrupt any video recordings that could compromise a PAG deployment. The PAG (Physical Access Group) is a special branch within the CCI (Center for Cyber Intelligence); its task is to gain and exploit physical access to target computers in CIA field operations.

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Posted at 1:33 PM (CST) by & filed under Jim's Mailbox.

Our friend JB sent this, he has a very straightforward sense of humor!

Bill

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Dear Wendy,

Your assumption we ship real currency in settlement of contacts which is not true. They settle via debits and credits over bank wire systems. From that point they become entires on the books of companies, banks and central central banks. There are no fiat dollars in exchange. In fact there are not enough fiat dollars to settle all transaction now computer entires on SWIFT type systems. It is just one more reason why every effort is made to camouflage the real economy, and thereby hold the banking system from a global run thereupon.

Herein is the unseen hand that will in time deliver hyper-inflation no one understands now or then.

The global debt cannot be paid in today money or cox fined also worthless virtual money.

Best Regards.

Jim

Jim,

I have been reading your page for years.

Here is something nagging at me that will get your grey matter moving.

Do you ever stop and think about our trade with China and the Pacfic Rim in General? For 20 plus years almost EVERYTHING on our retail shelves has been coming from that region. Now, think about how much money we’ve sent them!!!! They ONLY take US dollars (I know this from our local business people) for anything we import. How much money of ours could they have accumulated in over 20 years? Yes, the real estate market is up but, not in relative terms to how much money has been shipped abroad. It’s almost unfathomable to even quantify!!!!!

Our inflation has been exported!!!! (for now) The crap we have purchased is now mostly in our landfill sites and, they still have the cash. They can’t spend the cash in their country as it’s in US dollars. It has to return…that cash is currently driving the real estate and equity markets however, (in my opinion) there will be much more to come as these dollars make their way home.

Thoughts????

Posted at 11:45 AM (CST) by & filed under Bill Holter.

After listening to Jim’s 3 part autobiography, please send your questions regarding Jim’s life experiences to bholter@hotmail.com.  These questions will be this weekend’s topic.  Nothing is off limits …unless Jim decides to take the fifth!

Bill

Posted at 11:53 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

This adds some credibility to the claim.

Bill Holter’s Commentary

…and the naysayers tell us we can’t eat gold?  (sarc.)

Inside The $600-A-Head Silicon Valley Restaurant Where Google And Apple Executives Eat Gold-Flecked Steaks
August 1, 2017

Hiroshi is an unusual restaurant for unusual clientele.

Located in Los Altos, California, the newly opened Japanese restaurant accommodates only eight people per night and has no menus, no windows, and one table. Dinner costs at minimum $395 a head, but it averages between $500 and $600 with beverages and tax.

Hiroshi Kimura, the chef and owner, left his restaurant in Hawaii and moved to Silicon Valley in 2016 to launch a concept that would appeal to the deep-pocketed tech elite. Hiroshi hosts three to five dinners a week and is booked solid when a convention comes to town.

We toured the restaurant to see why it’s becoming a favorite in Silicon Valley.

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Bill Holter’s Commentary

Mad scientists playing with highly flammable matches!

Drunk Employee Arrested at CERN After Causing 3.2 Magnitude Earthquake
Russian physicist Alexandreï Ziouganov has been accused of “breaking CERN security rules” by “attempting highly risky and dangerous maneuvers” after he urged technicians to push the giant 27 km long particle accelerator to its limits, avoiding potential warning signs given by his coworkers while intoxicated by alcohol and under heavy medication.

The operation is believed to have caused an earthquake of 3.2 magnitude on the Richter scale, comparable to the impact of a large lightning bolt, assess experts.

    « No serious damage was dealt to the Large Hadron Collider but several hyper-capacitors were damaged during the tests »

    – CERN spokesman, Olaf Gaardsteen

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Bill Holter’s Commentary

If there are any CDS on Venezuela, then you must ask, when is a default not a default? Kind of reminds me of Al Pacino yelling at the judge; “I’m out of order? No, you’re out of order! The whole world is out of order!”

Venezuelan Default Fears Rise With Billions in Debt Coming Due Soon
August 2, 2017

Investors have been bracing for a Venezuela debt default for more than a year, but fallout from the country’s widely criticized election last weekend could prove to be the tipping point.

The government and state-owned oil company Petróleos de Venezuela SA, also known as PdVSA, together owe $5 billion in principal and interest payments due between now and the end of the year, according to Caracas Capital Markets.

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Bill Holter’s Commentary

How does the old saying go? “What’s good for the goose…”

Dem Sen. Goes Bonkers Over Trump Threat Against His Obamacare Exemption
July 31, 2017

(WND.com) Democrats in Congress have been in lockstep on almost every subject lately, adopting a party-line position and never relinquishing one inch of its ground.

But none so definitively as on Obamacare, where they have, as a bloc, refused every effort made by President Trump and the GOP majority to take the failing health-care mandates’ worst problems and fix them.

Maybe it’s because those problems are really a worry for their constituents, not them.

At least, that’s the suggestion from a series of social media postings by Sen. Chris Murphy, a Democrat from Connecticut.

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Posted at 11:51 AM (CST) by & filed under Jim's Mailbox.

Greenspan seeks redemption.

Jim

Jim/Bill,

What caught my eye were 2 comments:

1- significant inflation

2- major currencies erosion

‘Whilst interest rates are likely to rise, so is inflation which as Greenspan has previously argued, is good for gold:

“Significant increases in inflation will ultimately increase the price of gold. Investment in gold now is insurance.” [6]

Gold is not only insurance against inflationary pressures but it is insurance against the unknown whether that be the outlook for the dollar or for the survival of the euro itself which Greenspan warned about earlier this year.

Earlier interviews with Greenspan have provided insight into how often bodies such as the Federal Reserve misjudge economic situations which then results in poor policy making. Of course, no one knows how the financial future will evolve, especially as each crisis comes with new financial strategies, technology and human behaviour.

Greenspan is unable to predict when the bond bubble will burst, and many disagree that it will happen, instead pointing to a stock market problem.

The bottom line is no one has a crystal ball. We simply don’t know now how this will pan out.

But we do know that the current situation is unsustainable. Most asset markets look overvalued and the value of major currencies are slowly being eroded.

Gold will hedge and insure against these real risks.’

CIGA Wolfgang Rech

Stagflation: Inflation without growth. Stagnation with inflation.

We had that in the 1970’s (just before gold soared!)

Greenspan Warns Moving Into “Stagflation Not Seen Since the 1970s”
August 2, 2017

Greenspan warns of Bond Bubble

‘We are experiencing a bubble, not in stock prices but in bond prices. This is not discounted in the marketplace.’

There are a lot of warnings on Bloomberg, CNBC and other financial media these days about a bubble in the stock market, particularly in FANG stocks and the tech sector.

But former Fed Chair Alan Greenspan is not in agreement. He is continuing his message of the last two years, that there is a bond bubble and which is more dangerous than what is going on in the stock market.

He is not the only one, in recent months there has been a growing number of those who are concerned that real bond yields in the U.S., UK, EU and elsewhere are well below where growth and inflation rates seem to suggest they should be.

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Jim/Bill,

It’s no coincidence that we see these headlines back to back.

With the job market (primarily manufacturing) sliding into oblivion, drastic measures are being taken, even it means trade wars.

President Trump must save face regarding his promises to the “Rust Belt”.

And we all know where trade wars lead to…..depressions.

CIGA Wolfgang Rech

Manufacturing Loses Most Jobs Since Election As ADP Employment Growth Weakens
August 2, 2017

After April and June’s disappointment, ADP reports the US economy added 178k jobs in July (less than the 190k expectation and below June’s upwardly revised 191k). This is somewhat in line with the 180k expectation for NFP on Friday.

Two months in a row, ADP has weakened as ISM surveys suggested employment is rolling over.

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Trump Set To Retaliate To China’s “Unfair Trade Practices”
August 2, 2017

President Trump has given China six months to prove that it is committed to preventing a nuclear-armed North Korea, and it seems his tolerance for China’s dithering has finally reached its limit. Now that President Xi Jinping has established that his government is unwilling to engage in a meaningful crackdown on its neighbor, the era of using carrots like improving trade relations to coax China into helping solve the “North Korea problem” has ended. It is now time for the stick.

According to reports in the New York Times, Wall Street Journal and Associated Press, the Trump administration is planning to use an obscure 1970s law to launch a “broad-based” investigation into whether China’s trade-related intellectual property policies constitute “unfair trade practices.

The US inquiry could become an obstacle for one of the Communist Party’s top economic priorities: the Made in China 2025 initiative, while calls for China to become a “global leader” in ten industries with the help of huge infusions of state money.

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Posted at 12:15 PM (CST) by & filed under Jim's Mailbox.

Jim/Bill,

Look at these charts the momentum is clearly down the yen will break the 110 level followed by a break of the 100 level and the US dollar index needs to break the 92 level followed by 88 and 80 and then 72.

The continuous manipulation and dilution of the currencies is having its effect. You can be the ESF or Exchange Stabilization Fund but when it is time, it is time and the purchasing power of your current and thus even that of the reserve currency is going to give, exactly what we are witnessing today.

This should propel the precious metals because investors will look for an alternative safe haven for the loss of their wealth/purchasing power. Just ask you yourself do you want to hold a promise of a politician or a tangible asset with a history of validation of 6,000 years.

Best,

CIGA Gijsbert

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Posted at 12:12 PM (CST) by & filed under In The News.

Jim Sinclair’s Commentary

Mr. Williams once again informs us.

– Positive Variance (Nonsense Reporting) in Revamped GDP Detail Intensified versus Softening, Non-Expanding Underlying Economic Reality
– Advance Estimate of Second-Quarter 2017 Real GDP Came in at a Near-Consensus 2.57% versus a Revised First-Quarter 1.24% (Previously 1.42%)
– Despite Rapidly-Faltering Activity in Key Underlying Economic Series, Second-Quarter GDP Gained both Quarter-to-Quarter and Year-to-Year
– With Headline Real GDP Growth Approaching, but Still Below Historical Averages, Slowing Quarterly Inflation and Relatively Stronger Inventory Changes More than Accounted for the Increase in Real Second-Quarter Growth
– Benchmark Revisions Lowered 2016 Annual Real Growth to Its Lowest Reading Since the 2009 Depths of the Recession
– With Advance Second-Quarter Activity Yet to Be Reported, Real First-Quarter Gross National Product (GNP) Revised Lower to 0.94% (Previously 1.07%)
– The Theoretical GDP Equivalent, Real Gross Domestic Income (GDI), Revised Higher to 2.23% (Previously 1.01%) in the First-Quarter, Thanks to Massive Downside Revisions to Second-, Third- and Fourth-Quarter 2016
– Better-Quality Series Continue Showing Protracted-Economic Collapse, with No Recovery of Pre-Recession Highs, No Economic Expansion

“No. 902-B: Second-Quarter GDP, 2017 Annual Benchmark Revisions “

www.shadowstats.com

Bombshell dropped on ‘Russia, Russia, Russia’ mantra

July 30, 2017

WASHINGTON – Something very odd but extremely significant just happened in American politics, in practically the blink of an eye.

The establishment media have gone from virtual 24/7 coverage of the narrative that President Trump colluded with Russia to crickets, and they did it overnight.

How far has Russia fallen off the media’s radar? So far, that, in a jaw-dropping role-reversal, it is actually the White House now pushing the story on the media.

And why is the White House suddenly embracing the Russia story? Because it is now poised to boomerang on the Democrats, big time, following a pivotal Senate Judiciary committee hearing on Thursday.

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Posted at 6:59 PM (CST) by & filed under In The News.

Jim Sinclair’s Commentary

The real question is not the the dollar look rather stressed but what was it doing at 103 interday high?

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Why the MSM Is Quiet About the Awan Arrest
July 30, 2017

A member of Congress, Debbie Wasserman Schultz, has had her #1 IT employee arrested attempting to flee the country. This is huge news in and unto itself. Adding fuel to the fire is that this employee was working on the controversial emails related to DNC voter fraud. This brings in the Seth Rich Murder. This is bigger than Watergate!

Yet, the mainstream media is strangely quiet on this issue, suspiciously quiet. Crickets chirping is the best way to describe the media’s reaction to this blockbuster news!!! Why? The following video casts light on these questions and more. Additionally, below the video, is information related to new and very concerning information on this case.

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Ignore Today’s Noise, The Gold Market Just Experienced A Major Breakout
July 31, 2017

July 31 (King World News) – Gold overcame a quarterly momentum hurdle this past week. It was enough of a structural event that we label it a major secondary upside breakout (the first being the breakout in February 2016, when annual and quarterly momentum broke out between the $1140 to $1160 zone).

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Schumer Says ‘Our Founding Fathers Intended’ for Congress to ‘Improve Our Healthcare System’
July 28, 2017

Senate Minority Leaders said last night at the end of the debate over the Republicans “skinny repeal” of Obamacare that the Founding Fathers of the United States intended for Congress to improve the healthcare system.

The constitutionality of the Obamacare law was challenged all the way to the Supreme Court because the federal government never before had attempted to order citizens to buy a particular product. It was upheld on a 5-4 vote because Chief Justice John Roberts determined the individual mandate to buy insurance was really a “tax” not a mandate.

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