Posted at 5:54 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

Imagine that? The question of course is “what exactly are they hiding”?

Posted at 8:08 AM (CST) by & filed under

July 1, 2018

By Greg Hunter’s (Early Sunday Release)

Macroeconomic analyst Rob Kirby says there is a lot you are not seeing with all the bad news coming from Deutsche Bank (DB). You’ve seen DB stock hit all-time lows, the Fed downgrading them and flunking the bank on a recent stress test. Rob Kirby says it’s much worse than you think and explains, “Basically, it is the German regulator telling DB you are going to get out of this pool, then the Americans realizing how hostile the Germans have become to the criminal activity of the U.S. monetary complex. They basically said you are getting out of our pool?  Well, we’re going to waterboard you first, and we’re going to bring public shame upon you.”

Is Kirby worried about DB going under? Kirby says, “I think Deutsche Bank could go under. It might very well deserve to go under, but will they be permitted to go under? In my view, there is no doubt what-so-ever that Morgan Stanley was insolvent in the 2008 and 2009 time frame. Their stock was at $5, and it looked like it was going to $0. They pulled out the stops and papered over the shortcomings at Morgan Stanley.” Kirby thinks European central bankers will do the same for DB.


Posted at 10:03 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

If you don’t toe the company line…you’re out? Do some research on vaccines, you will be shocked…!

California Doctor Critical Of Vaccines Is Punished For Exempting 2-Year-Old Boy From All Childhood Immunizations
June 29, 2018

In a decision that could signal how California’s fierce vaccine debates will play out in the coming years, the Medical Board of California has ordered 35 months’ probation for Dr. Bob Sears, an Orange County pediatrician well-known for being sympathetic to parents opposed to vaccines.

In 2016, the board threatened to revoke Sears’ medical license for wrongly writing a doctor’s note for a 2-year-old boy that exempted him from all childhood vaccinations. This week, the medical board settled on a lesser punishment.

Sears can keep practicing medicine but will be required to take 40 hours of medical education courses a year, as well as an ethics class, and also be monitored by a fellow doctor. He also must notify all hospital and medical facilities where he practices of the order and is not allowed to supervise physician assistants or nurse practicioners.

The doctor’s supporters expressed relief that he was not more severely punished, while critics were pleased that the state did more than simply reprimand him, as some had feared.


Posted at 10:43 AM (CST) by & filed under Jim's Mailbox.


The more you read the article, the bleaker the analysis.

A “mulligan?”

(For those not into gold, a mulligan, most simply put, is a “do-over” in golf. Hit a bad shot? Take a mulligan and replay that stroke.)

There’s technically two ways to “fail” the stress test — quantitatively and qualitatively. But no one has failed on a quantitative basis since 2013 because the Fed allows banks to take a “mulligan.”

“The stress tests showed Goldman Sachs and Morgan Stanley potentially at risk, and as a reminder, Wells Fargo is under Federal Reserve restrictions and all eyes are on whether Deutsche Bank is allowed to do anything.

Specifcally analysts have grown more skeptical that GS/MS can increase their payouts — or in Goldman’s case, that it can even maintain last year’s level. Why give up the safety of reserves? You’ve accumulated them as a safety net and now you disburse them to stockholders.”

You accumulate reserves for protection and then disburse them to stockholders after the test?

I don’t get it.

“The results overall were weaker than last year, although Fed officials noted that the regime had become stricter this year.”

“As a reminder, all 35 banks passed the stress test last week as The Fed confirmed they would all be fine if stocks crashed 65% and VIX spiked to 60.”

From what I’ve heard, no mention has been made of the enormous volume of derivatives held on the books.

We’ll see how this all works out in the next crash. The FED’s feet should be held to the fire if another bailout is needed.

CIGA Wolfgang Rech

Fed Test Fails Deutsche Bank, Forces JPMorgan, Goldman, Four Others to Limit Payouts
June 28, 2018

Tougher Federal Reserve stress tests forced six U.S. banks to scale back proposals for doling out more cash to shareholders, while failing Deutsche Bank’s US unit on “qualitative” grounds:

The Fed failed the U.S. subsidiary of Deutsche Bank AG, citing “widespread and critical deficiencies” in its planning, limiting the unit’s ability to send capital home to Germany.

Goldman Sachs Group Inc. and Morgan Stanley — agreed to freeze payouts at previous years’ levels. Both banks were required to rein in their dividend and stock buyback plans after the Fed warned their initial, more bullish, proposals would have left them with inadequate capital buffers.

JPMorgan Chase, American Express, KeyCorp and M&T Bank Corporation also rethought their original plans for payouts to shareholders, although they got the thumbs up after submitting more modest plans in the past week, the Fed said.

Twenty-eight other firms can proceed with their original proposals to boost stock buybacks and dividends after the Fed found they’d still hold enough capital to weather a hypothetical economic shock.

As the FT notes, given the disappointing results on Thursday for some banks, the industry’s overall payout ratio — capital distributed as a proportion of earnings — was expected to remain roughly unchanged from last year at about 95 per cent.

Even with the more conservative capital plans, Goldman and Morgan Stanley fell below some required capital thresholds. Yet the Fed gave the less punchy payouts the go-ahead anyway. Officials said weakness in the stress test partly reflected the accounting impact of landmark tax reforms that Mr Trump signed into law last year. Randal Quarles, the Fed’s regulatory chief, said they had created “one-time challenges”.



Meanwhile, media viewers are seeing their favorite pedophiles getting arrested or implicated as they parade these insane anti-Americans on the television. Trump is cleaning house of these freaks and their colluding agents inside government…it’s all coming down folks. Best be prepared to be surprised because Kevin Spacey, Bill Cosby, Woody Allen, Harvey Weinstein, et al. are simply the tip of the iceberg…WWG1WGA.




Regardless of who or what Q is, what follows is an interesting conversation. Courtesy of JB.

Jun 28 2018 23:59:18 (EST)
It must happen.
Conspiracy no more.
Think of every post made.
It would force us to prove everything stated to avoid looking crazy, correct?
What do they fear the most?
Public awakening.
If they ask.
They self destruct.
They know this is real.
See attacks.
The build is near complete.
Growing exponentially.
You are the frame.
You are the support.
People will be lost.
People will be terrified.
People will reject.
People will need to be guided.
Do not be afraid.
We will succeed.
Timing is everything.
Think Huber.
Think DOJ/FBI reorg.
Think sex/child arrests / news.
Think resignations (loss of control).
How do you remove evil in power unless you reveal the ultimate truth?
It must be compelling to avoid a divide (political attack/optics).
We are the majority (growing).
Sheep no more.


This is the bail out of all bank loans for the reset, a financial hurricane warning right in your face, if you have eyes to see, and have read real of monetary history.

This is akin to what was done in the Weimar experience to guarantee the banks would not lose value because of the collapse of currency. Their already granted mortgages were denominated in grams of gold, back dated to the date of the loan initiation. As such, the banks were protected from the demise of the currency in stated gold vs. currency value when the currency expired.

The banks never suffer in a Reset; therefore someone knows something that is unknown to the majority.

This, when passed now, or in the future is a huge event to protect the banks from the Reset. Precisely like the Weimar experience. The wording will be changed into define the dollar loans, made by banks in grams of gold on the day of the grant, which is before the RESET and / or looking back in time. Again like Weimar.

Courtesy of Crazy Horse.


This will not take place as written but as rewritten to pass.

H.R.5404 – To define the dollar as a fixed weight of gold.115th Congress (2017-2018) | Get alerts


Sponsor: Rep. Mooney, Alexander X. [R-WV-2] (Introduced 03/22/2018)
Committees: House – Financial Services
Latest Action: House – 03/22/2018 Referred to the House Committee on Financial Services.  (All Actions)


This bill has the status Introduced

Here are the steps for Status of Legislation:


Passed House

Passed Senate

To President

Became Law

Available here


Courtesy of Dave.


Gold: The Chinese Connection – David Brady (27/06/2018)
June 27, 2018

Unless you have been under a rock for the past few months, you know there is an escalating trade war going on between the U.S. and China. The U.S. is imposing tariffs on Chinese products, and China is responding in kind. But the Chinese have more retaliatory options available to them than just tariffs, and it seems they are already using them.

Since its low at 6.2470 on March 27, the USD/CNY exchange rate has risen 6% to 6.6150. Put a different way, that’s a 6% “devaluation” of the yuan.



Posted at 9:22 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

We have refrained somewhat from posting inflammatory items such as this…but this is too funny and especially too true not to post! On a serious note, we hope everyone truly realizes now just how important the last election was, especially when Donald Trump gets to nominate his third and possibly fourth Supreme Court justice! From the standpoint of the rule of law, we were on the precipice and are now taking a step back, financially…there is no way to step back other than to leave the game altogether!


Jim Sinclair’s Commentary

When Bill predicted this, even I thought not here. Well it is here!

The Liberal Mob Won’t Stop Until Someone Gets Killed, And Then Only Maybe
June 28, 2018

Something awful is coming, make no mistake about it. Someone is going to get killed, either by an angry liberal mob or fleeing from it. There really isn’t any other place the current state of progressive left-wing politics can lead. Democrats, who hope to benefit from keeping that mob angry enough to vote, is playing a dangerous game of chicken that the violence just not happen until after November.

I wrote in my Sunday column, “When the leadership of the party does not condemn mob action against a Cabinet Secretary while she’s having a meal or is at home, disrupting her entire neighborhood, the next steps are only more dangerous.” That column was written before White House Press Secretary Sarah Huckabee Sanders was chased from a restaurant in Virginia, before Secretary of Transportation Elaine Chao was confronted by goons in Georgetown, and before Congresswoman Maxine Waters encouraged all of that and more. I knew we’d get to this point, I just didn’t realize it would be at the speed of light.

Where we go from here is dark and dangerous – someone is going to get killed.

A mob is pretty easy to rile up, it’s nearly impossible to stop. The only way to stop it is for the leaders of the Democratic Party to speak out forcefully against it, to condemn its actions. Nancy Pelosi and Chuck Schumer, at least so far, have been reluctant to do it.


Bill Holter’s Commentary

We told you to watch for arrests like this one. This is not fake news and has to cross the red line of anyone with just one brain cell remaining. The “chairman” of an anti sex abuse organization? It always hides in plain sight folks! Life imprisonment is too kind, a public hanging might at least scare other perverts…

FBI: Clinton Campaign Official Arrested On Child Rape Charges; Feds Cashing in on Weiner Laptop Intel?
June 27, 2018

The head of a charity that campaigns against sexual violence has been arrested in New York for child pornography and allegedly trying to meet with children as young as two for sex.

Joel Davis, 22, is accused of trying to set up sexual encounters between himself and young children, as well as soliciting an undercover FBI agent to send sexually explicit videos of minors.

The New Yorker was arrested on Tuesday on child sex abuse and child pornography charges.

Davis is the chairman of the International Campaign to Stop Rape and Gender Violence in Conflict – an organization devoted to ending sexual violence.

Davis also reportedly worked for Hillary Clinton’s 2016 presidential campaign.

Davis allegedly told the agents that he was sexually interested in children of all ages. He is accused of sending the agents sexually explicit photographs of infants and toddlers, including some of the children engaged in sex acts with adults.

The 22-year-old allegedly arranged to meet the nine-year-old daughter of one of the undercover agents and with the purported two-year-old daughter of the officer’s girlfriend.

He allegedly went into detail in the text messages about what sexual activities he intended to engage in with the children.


Bill Holter’s Commentary

She shrinks like a violet the first time anyone “pushes back” on her? The woman reminds us too much of the big bad bully in high school who stood down when confronted by anything breathing on two legs…pathetic!

Maxine Waters Says She’s Faced Increased Threats, Cancels Attending 2 Events
June 28, 2018

Rep. Maxine Waters said Thursday she’s seen an increase in threats since she made controversial comments last week encouraging protesters to heckle and harass members of Trump’s Cabinet in public spaces.

The California Democrat canceled two scheduled appearances in Alabama and Texas this weekend after saying she got threatening messages and “hostile mail” at her office, including “one very serious death threat” on Monday from an individual in Texas.

“As the President has continued to lie and falsely claim that I encouraged people to assault his supporters, while also offering a veiled threat that I should ‘be careful’, even more individuals are leaving (threatening) messages and sending hostile mail to my office,” she said in a statement.

“There was one very serious death threat made against me on Monday from an individual in Texas which is why my planned speaking engagements in Texas and Alabama were cancelled (sic) this weekend,” she continued. “This is just one in several very serious threats the United States Capitol Police is investigating in which individuals threatened to shoot, lynch, or cause me serious bodily harm.”


Posted at 9:17 AM (CST) by & filed under Jim's Mailbox.

Courtesy of Dave.


Bank Stocks Are On Their Longest Losing Streak Ever
June 26, 2018

Bank stocks just hit a record — a record of losses.

The S&P 500 Financials Index fell for the 12th straight day Tuesday, the longest losing streak on record. Coming into the year, many cited the tax overhaul and a rising rate environment as reasons for banks to rally. Instead, they’ve endured pressure from a flattening yield curve. The losses also come ahead of the final phase of the Federal Reserve’s annual stress tests and waning consumer confidence.

“They’re facing a rising rate environment, which historically has been fairly positive for banks,” Mona Mahajan, U.S. investment strategist at Allianz Global Investors, said on Bloomberg Television. “What we’re seeing here is the shrinking yield curve is actually not a good sign for the banks. Obviously, they like to borrow short, lend long, and if that yield curve is shrinking, that margin goes down as well.”




Courtesy of Dave.


Gold Exports To London From U.S. Surge 152% In 2018
June 26, 2018

by Steve St. Angelo of SRSrocco

As U.S. gold exports to Hong Kong and China fell 25% in the first four months of the year, London picked up the slack. According to the USGS, U.S. gold exports to London more than doubled from January to April, compared to the same period last year (see chart).

Interestingly, the amount of gold exported to London during this period nearly equaled the total U.S. domestic gold mine supply.

From the data reported in the USGS Gold Mineral Industry Survey’s, U.S. gold exports to the U.K. (London) jumped to 64.3 metric tons (mt) Jan-Apr, versus 25.5 mt during the first four months last year:

Here is the breakdown of U.S. gold exports to London for each month:

Jan = 12.2 mt

Feb = 12.1 mt

Mar = 21.2 mt

Apr = 18.8 mt

Total 64.3 mt

As I have mentioned, a lot of London’s gold is exported to China and Switzerland.

And then, the majority of Switzerland’s gold is exported to Hong Kong and China. For example, according to the statistics on GoldChartsrus, in March, the U.K. exported 16 mt of gold to China and 32 mt of gold to Switzerland. In the very same month, Switzerland exported 80 mt of gold to Hong Kong and China.



Courtesy of Dave.


As Military Drops A Bomb Every 12 Mins, Supreme Court Upholds Ban on Refugees Created By US
June 26, 2018

As statistics show that the United States Military drops a bomb every 12 minutes, the Supreme Court has ruled in favor of a ban on refugees from the countries that are being destroyed by the U.S.

The decision was announced on Tuesday after the Supreme Court ruled, 5-4, that a ban on travel from Iran, Iraq, Libya, Somalia, Sudan, Syria, and Yemen, does not discriminate against Muslims, and is within President Trump’s authority to enact.

“The entry suspension is an act that is well within executive authority and could have been taken by any other president—the only question is evaluating the actions of this particular president in promulgating an otherwise valid proclamation,” Chief Justice Roberts wrote in the court’s opinion.

The White House released a statement calling the ruling a “moment of profound vindication following months of hysterical commentary from the media and Democratic politicians who refuse to do what it takes to secure our border and our country.”



Courtesy of Dave.


Morgan Stanley Adds Former S.E.C. Chairwoman to Its Board
June 26, 2018

By Emily Flitter

A former chairwoman of the Securities and Exchange Commission was named on Tuesday to the board of Morgan Stanley, the latest in a series of moves the bank has made to bolster its brokerage business.

The new board member, Mary L. Schapiro, led the commission from 2009 to 2012 after her appointment by President Barack Obama. She will join the Morgan Stanley board effective Sunday.

Morgan Stanley’s chief executive, James P. Gorman, has said he sees in his sprawling network of financial advisers a steadier source of growth than the more uncertain businesses of trading and investment banking. Wealth management accounts for almost half the bank’s total revenue.

Ms. Schapiro has held several top regulatory posts relevant to the brokerage business. In the 1990s, she was the chairwoman of the Commodity Futures Trading Commission under President Bill Clinton. She also spent three years as chairwoman and chief executive of the Financial Industry Regulatory Authority, an industry self-regulatory watchdog that oversees financial brokers.



Courtesy of JB.


Deutsche Bank’s US Unit Fails Fed Stress Test
June 28, 2018

Available via Financial Times Subscription