Posted at 1:07 PM (CST) by & filed under In The News.

Jim Sinclair’s Commentary

The latest from John Williams’ www.shadowstats.com

– Stresses Mount on Consumer Income, Credit and Wealth
– Cascading Consumer Liquidity Issues, Aggravated by Federal Reserve Tightenings, Wallop Headline Activity in Home Sales, Construction, Retail Sales and Manufacturing
– Can the GDP Be Far Behind?

“Consumer Liquidity Watch No. 5”

www.shadowstats.com

Jim Sinclair’s Commentary

The IMF Lagarde article is the basis of my long held and often discussed theory that there will be two resets.

The first is more of a con than a currency as the fabric of the FAKE numbers of the so-called market are revealed by the flash crash to sanity. Any fix will be accepted for a short period of time; however, it is the basic foundation of the thesis of “Free Gold” that will create the last man standing. The period of disruption is from June of 2019 going through into 2025.

I will soon take the vow of Muni which is the Indian version of silence because I have given you all the guidance you need. Now all you need is courage as the patience of job era is coming to an end.

I have clearly described to you what the first reset will look like and why it will not last.

IMF Reveals That Cryptocurrency Is The New World Order End Game
Wednesday, 21 November 2018 13:19

In a paper published last week by IMF head Christine Lagarde titled “Winds Of Change: The Case For New Digital Currency”, the IMF builds its argument for why central banks including the IMF should embrace crypto as the future of monetary policy.

As I warned last year, the shift into crypto was not at all a “revolution” against the globalists, but a con designed by the globalists in part to get liberty proponents to become unwitting salesmen for the next phase of the economic control grid. But how do they intend this end game to play out?

In 1988, The Economist, a globalist publication, “predicted” (or rather, announced) that a global currency system would be launched in the year 2018.  It is now clear that crypto and the blockchain are that system.  This system would eventually use the IMF’s Special Drawing Rights basket as a kind of bridge to a one world currency, which they referred to as the “Phoenix”. Though some people claim that the SDR itself is not a currency, globalists apparently disagree.

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Posted at 11:00 AM (CST) by & filed under Jim's Mailbox.

Democracy?

Jim

Voter fraud in California?

JB

Signature Gatherers Bribed Skid Row Homeless People in ‘Large-Scale Voter Fraud Scheme,’ DA Says
November 20, 2018

Nine people are accused of various fraud charges after allegedly bribing homeless people on Skid Row with money and cigarettes to sign ballot measure petitions and voter registration forms, the Los Angeles County District Attorney’s Office announced Tuesday.

The defendants allegedly solicited hundreds of false and/or forged signatures by offering homeless people $1 and/or cigarettes for their participation during the 2016 and 2018 cycles.

The charges include circulating a petition with false names, using a false name on a petition, registering a fictitious person and voter fraud.

Kirkland Kauzava Washington, 38, Harold Bennett, 53, and Louis Thomas Wise, 36, each face eight counts and six years and four months in prison if convicted.

Richard Howard, 62, Rose Makeda Sweeney, 42, Christopher Joseph Williams, 66, Jakara Fati Mardis, 35, Norman Hall, 61, and Nickey Demelvin Huntley, 44, each face four counts and four years and eight months in prison if charged.

Prosecutors recommended that bail be set at $25,000 for each defendant.

The arrests of the defendants were part of an LAPD crack down on voter fraud, according to the Los Angeles Times, and the FBI also investigated.

More…

 

Jim,

Looks like President Trump is worried about the Petro dollar and US policy!

Dave

Trump Says Oil Prices Would “Go Through The Roof” If We Broke With Saudi Arabia; Wants Lower Rates
November 20, 2018

Shortly before departing to Florida for the Thanksgiving holiday, Trump issued a flurry of statements to reporters, covering everything from geopolitics, to monetary policy, to currencies, to his daugher’s emailing habits.

Echoing previous remarks, Trump started by saying he would like to see lower oil prices and interest rates.

Trump also repeated his earlier statement, saying that abandoning Saudi Arabia would be a mistake and that the Saudi situation is “complicated” and “is what it is.” The president also said that he will meet the Saudi Crown Prince in Argentina “if he’s there.”  Earlier, Trump said the U.S. would remain “steadfast partner” of Saudi Arabia after the murder of Washington Post columnist Jamal Khashoggi.

More…

 

Courtesy of Dave.

Jim

America Has Built 800+ Military Bases Worldwide. So Why Can’t It Build a Mexican Border Wall?
November 20, 2018

 The US government has constructed at tremendous cost to its taxpayers some of the most impressive structures – both architectural and organizational – of all time. Yet somehow it has failed to build a viable wall on the Mexican border.

In 1931, during the Great Depression, the US government began construction of the Hoover Dam, one of the most ambitious civil engineering projects ever attempted. Employing thousands of US laborers, some 100 of whom reportedly lost their lives in the course of the project, the dam is mind-boggling due its sheer size, rivaling that of the pyramids.

At 726 feet tall, the wedge-shaped structure is 660 ft (200 m) thick at its base, narrowing to 45 ft (14 m) at the top, which provides enough room to accommodate a highway connecting Nevada and Arizona. The project required millions of cubic feet of concrete – said to be enough to pave a two-lane highway from San Francisco to New York – and tens of millions of pounds of steel.

Many decades later, the US government undertook another extensive project known as the US Embassy in Baghdad. Although rarely discussed in the US media, this 104-acre slice of American property in a foreign country is so immense that it rivals Vatican City in terms of size [the Vatican is an independent city-state, complete with its own euro-based currency and security detail, located inside of Rome].

More…

 

Jim/Bill,

A bank looking for a hedge……

Deutsche Bank Lost $60MM On Trade Meant To Minimize Risk

The most troubled German lender had put on a hedge to minimize risk at its U.S. equities business. Instead, the company lost tens of millions on the trade.    

    November 21, 2018

When it was right under their noses!

Weiner: “Buying Gold Is A Non-Expiring Hedge”

“In this scenario, the marginal buyer of gold will not be the speculator. It will be the mainstream investor who is desperate to protect himself from a financial system going mad again…”

    November 21, 2018

 

 

 

 

 

 

 

 

 

Diogenes, seeking the perfect hedge.

CIGA Wolfgang Rech

 

Jim/Bill,

You know the system’s broke when…….

You get paid for a job POORLY done!

 

 

 

 

 

 

 

 

Waiting for the bonuses.

CIGA Wolfgang Rech

Sears Asks To Pay Executive Bonuses Despite Bankruptcy
November 19, 2018

Struggling retailer Sears Holding Corp. this month asked a court to approve millions of dollars in bonuses to 18 company executives despite ongoing bankruptcy proceedings that led to the closures of dozens of store locations.

The company wants to pay a total of $8.5 million in bonuses to the executives as well as a further $16.9 million in retention bonuses to 322 other high-level employees, the Wall Street Journal reported on Monday. If approved, the payments would be dispersed over the company’s next two fiscal quarters.

Sears’ chief financial officer and chief digital officer are among the executives who would receive bonuses. The payouts to other employees would be tied to the company’s financial performance.

Sears declined to comment. A bankruptcy court is expected to decide on the request on Dec. 20.

The company, which includes Sears and Kmart stores, has struggled to maintain sales and store traffic amid the rise of e-commerce competitors. Sears filed for Chapter 11 bankruptcy last October and said it would close 142 unprofitable stores as part of the restructuring process.

Sears is attempting to sell about 400 of its top-performing stores. An auction of the stores is expected to take place in January.

More…

 

Jim/Bill,

California wildfires have taken center stage this year.

Will financial wildfires follow suit? Contagion?

 

 

 

 

 

 

 

 

 

A contagion in the banking community could prompt a rush for the exits and another FED bailout.

But hey, it’s only money.

CIGA Wolfgang Rech

These Banks Now Have A $41 Billion Problem With GE
November 21, 2018

Three weeks ago we reported that in the first nail to its investment grade coffin, GE had found itself completely shut out of the Commercial Paper market when Moody’s downgraded its senior unsecured rating to Baa1, from A2, and downgraded the short-term rating to P-2, from P-1, making future sales of CP impossible. So, in lieu of CP access, GE said it would replace that funding with a net $40.8 billion of available credit facilities committed from banks. Or, as we explained “GE will now use its revolver, which carries a higher interest rate, to fund what it previously achieved using CP.”

This transition in GE’s reliance from commercial paper to revolver is not just a problem for GE, however, which now faces higher funding costs and encumbered assets: with the industrial conglomerate’s business and operations deteriorating rapidly, GE has become a major headache for America’s largest banks almost overnight.

As Bloomberg reports, the five biggest Wall Street firms have committed to lending at least $3.5 billion each to GE even as the industrial giant is facing rising concerns about its viability and the sustainability of its debt.

More…

Posted at 10:56 AM (CST) by & filed under In The News.

Jim Sinclair’s Commentary

With happy Thanksgiving.
I am invited to a vegan family dinner.

Bitcoin Price Claws Back to $4,500 But Further Losses May Lie Ahead
November 20, 2018

The bitcoin price on Tuesday nursed extensive losses of over 12 percent against the US dollar, stabbing through $5,000 as it did.

BTC/USD Intraday Analysis

The BTC/USD index is currently trading at the 4513-fiat price level after a minor jump from its intraday low at 4035-fiat. The knee-jerk reaction after a massive sell-off does not confirm a substantial bias shift. It looks more like a bear pennant formation that is likely to extend the bearish action as it overreaches its downside targets.

 

 

 

 

 

 

 

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Bill Holter’s Commentary

Nothing to see here!

Subprime Rises: Credit Card Delinquencies Blow Through Financial-Crisis Peak at the 4,705 Smaller US Banks
November 20, 2018

So what’s going on here?

In the third quarter, the “delinquency rate” on credit-card loan balances at commercial banks other than the largest 100 banks – so the delinquency rate at the 4,705 smaller banks in the US – spiked to 6.2%. This exceeds the peak during the Financial Crisis for these banks (5.9%).

The credit-card “charge-off rate” at these banks, at 7.4% in the third quarter, has now been above 7% for five quarters in a row. During the peak of the Financial Crisis, the charge-off rate for these banks was above 7% four quarters, and not in a row, with a peak of 8.9%

These numbers that the Federal Reserve Board of Governors reported Monday afternoon are like a cold shower in consumer land where debt levels are considered to be in good shape. But wait… it gets complicated.

More…

On Watch: Exposing Mainstream Media Lies About the Illegal Alien Invasion
November 21, 2018

In this episode of “On Watch,” Judicial Watch Director of Investigations & Research Chris Farrell joins filmmaker Ami Horowitz to discuss his recent trip to Mexico investigating the migrant caravan.

More…

Posted at 5:06 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

Wiping out nearly two years of “growth”…

“It Could Never Happen Again…Right?”
November 20, 2018

Is it really different this time?

 

 

 

 

 

 

 

FANG Stocks just hit 10-month lows…

 

 

 

 

 

 

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Bill Holter’s Commentary

In Texas they call this “one drunk holding up another drunk”…

Lawmakers Consider Multibillion Bailout For Troubled Pensions, Retirees
November 20, 2018

WASHINGTON – Top lawmakers are considering a taxpayer-funded bailout for retirees who are members of certain failing pension plans, scrambling to solve a retirement crisis that threatens more than 1 million Americans.

A draft of the plan, obtained by The Washington Post, would direct the Treasury Department to spend up to $3 billion annually to subsidize payments for retirees from certain underfunded pensions.

The retirement programs are called “multiemployer” pensions, as workers from multiple companies pay into the same retirement benefit program. But many of these pensions lack the financial assets to cover the benefits they have promised retired workers, leading to a panic from retirees who were counting on the funds. These pensions have often been plagued by mismangement, inaccurate economic projections, and in some cases corporate bankruptcies.

In many cases, the companies these pensioners used to work for no longer exist or no longer participate in the retirement plan.

More…

Posted at 11:29 AM (CST) by & filed under Jim's Mailbox.

It’s who counts the vote that is the problem…or is it Common Core?

JB

 

 

 

 

 

 

 

 

 

Annual Meeting of the Summer Tires Club. Courtesy of CIGA Sister K.

Jim

 

 

 

 

 

 

 

 

 

 

 

 

Courtesy of Mike Martin, who has been with me from the days of the Sinclair Group Companies.

Jim

China Just Dumped The Biggest Load Of US Treasuries In 8 Months
November 19, 2018

In September, China’s share of US Treasuries holdings had the highest decline since January as ongoing trade tensions with Washington forced the world’s biggest economy to take measures to stabilize its national currency.

Still the biggest foreign holder of the US foreign debt, China slashed it’s share by nearly $14 billion, with the country’s holdings falling to $1.15 trillion from nearly $1.17 trillion in August, according to the latest data from the Treasury Department. The fall marks the fourth straight month of declines. China is followed by Japan, whose share of US Treasuries fell to $1.03 trillion, the lowest since October 2011.

Washington has accelerated the Treasury issuance to avoid potential growth in the federal deficit due to the massive tax cut pushed by President Donald Trump, as well the federal spending deal approved by the government in February.

More…

 

Jim,

Is President Trump concerned the Petro dollar is in danger?

Dave

Trump Affirms Support For MbS, Warns “World Is A Dangerous Place”
November 20, 2018

After promising to publish a “very full report” about the CIA’s findings related to Saudi Crown Prince Mohammad bin Salman’s complicity in the death of Saudi journalist Jamal Khashoggi, President Trump on Tuesday instead released a statement where he once again defended the US’s relationship with the kingdom, and questioned whether MbS even knew about the killing.

While Trump described the murder as a “terrible” and “unacceptable” crime, he claimed that as US intelligence agencies continue to investigate, they could still find that MbS wasn’t responsible for ordering Khashoggi’s murder.

Oil prices moved lower on the statement as investors interpreted it as just another sign that the US won’t follow through with any material sanctions or other punitive measures against the kingdom itself (though the Treasury Department did sanction 17 individual Saudis, including a senior aide to the prince, over their alleged involvement. Presumably, as long as the kingdom does everything in its power to keep oil prices low, Trump won’t give them any problems.

More…

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Saturday’s notes.

Dave

Greenwald: DOJ Prosecution Of Assange Poses “Grave Threats To Press Freedom”
November 17, 2018

The “accidental” disclosure that WikiLeaks founder Julian Assange has been secretly charged by Department of Justice in the Eastern District of Virginia has ignited a firestorm over the freedom of the press, and protections offered to journalists under the First Amendment.

Beginning in 2010, the Department of Justice under Obama began to draw a distinction between WikiLeaks and other news organizations. Former Attorney General Eric Holder insisting that Assange’s organization does not deserve the same first amendment protections during the Chelsea Manning case, in which the former Army intelligence analyst was found guilty at a court-martial of leaking thousands of classified Afghan War Reports.

Ultimately, the previous administration concluded that it could not criminally charge Assange and WikiLeaks due to First Amendment protections.

More…

Decoding The Hypersonic Putin On A Day Of Remembrance
November 13, 2018

By Pepe Escobar

. . .

Enter the Avangard

Vast sectors of the US Deep State are in denial, but Putin may have been able to impress on Trump the necessity of serious dialogue due to an absolutely key vector: the Avangard.

The Avangard is a Russian hypersonic glide vehicle capable of flying over Mach 20 –  24,700km/h, or 4 miles per second – and one of the game-changing Russian weapons Putin announced at his ground-breaking March 1 speech.

The Avangard has been in the production assembly line since the summer of 2018, and is due to become operational in the southern Urals by the end of next year or early 2019.

In the near future, the Avangard may be launched by the formidable  Sarmat RS-28 intercontinental ballistic missile and reach Washington in a mere 15 minutes, flying in a cloud of plasma “like a meteorite” – even if the launch is from Russian territory. Serial production of Sarmat ICBMs starts in 2021.

The Avangard simply cannot be intercepted by any existing system on the planet – and the US knows it. Here is General John Hyten, head of US Strategic Command:  “We don’t have any defense that could deny the employment of such a weapon against us.”

More…

Why Washington Blows Up over European Army
November 16, 2018

Insulting” – that’s how US President Donald Trump sharply reacted to the idea of a “real European army” proposed by French President Emmanuel Macron.

And it was how Macron rationalized the need for an independent military force for Europe that perhaps most irked the American leader.

Speaking on a tour of World War I battlefields in northern France last week, Macron said that Europe needed to defend itself from “China, Russia and even the United States of America”.

It was a pretty extraordinary choice of words by the French leader. To frame the US among an array of perceived foreign enemy powers was a devastating blow to the concept of a much-vaunted transatlantic alliance.

Since the Second World War, ending 1945, the concept of an American-European alliance has been the bedrock of a supposed inviolable, mutual defense pact. That nearly seven-decade alliance is now being questioned more than ever.

More…

Merkel Defies Trump, Backs Macron’s Call For European Army
November 13, 2018

Two days after French president Emanuel Macron snubbed President Trump, slamming nationalism as the antithesis of patriotism during a closely watched speech with Trump sitting just a few feet away, and which prompted a flurry of provocative and taunting tweets by the US president demanding that Europe pay for its own defense (or else Paris would now be speaking German), Germany’s Angela Merkel set out her own vision of a more assertive European Union, one which aligned with that of Macron and included a European army.

After spending the weekend commemorating the end of World War I in Paris alongside more than 60 global leaders and witnessed first hand the tensions between Trump and France’s Emmanuel Macron, the normally understated chancellor took an uncharacteristically bold stance as she addressed EU lawmakers in Strasbourg.

In Paris, Merkel defended her world view against the U.S. president’s barbs as he sparred with Macron. And, as Bloomberg reports, she went a step further in the EU parliament on Tuesday, telling deputies they need to adapt to a world in which Europe’s traditional allies may no longer guarantee the continent’s security.

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Saturday’s speaking points and articles for review.

Dave

https://www.thedailybell.com/all-articles/news-analysis/why-the-most-expensive-military-ever-still-cant-win-a-war/

https://www.zerohedge.com/news/2018-11-15/national-defense-strategy-commission-us-could-lose-wars-russia-china

http://www.atimes.com/article/us-drops-the-gauntlet-in-the-south-china-sea/

http://www.atimes.com/article/us-tells-china-to-remove-missile-systems-in-south-china-sea/

https://www.rt.com/usa/443911-pence-cold-war-china/

 

Jim,

Here are a few articles for further reading from Saturday’s talk.

Dave

https://www.zerohedge.com/news/2018-11-13/malaysian-prime-minister-obviously-we-have-been-cheated-goldman-sachs

https://www.cnn.com/2018/11/09/business/lloyd-blankfein-goldman-sachs-1mdb/index.html

https://www.cnbc.com/2018/11/12/ex-jp-morgan-silver-traders-guilty-plea-could-boost-manipulation-suit.html

https://www.reuters.com/article/us-goldmansachs-1mdb-probe-idUSKCN1NC0SN

 

Courtesy of Dave.

Jim

Saudi Crown Prince Ordered Khashoggi’s Assassination: CIA
November 17, 2018

By Shane Harris & Greg Miller

Washington: The CIA has concluded that Saudi Crown Prince Mohammed bin Salman ordered the assassination of journalist Jamal Khashoggi in Istanbul last month, contradicting the Saudi government’s claims that he was not involved.

The CIA’s assessment, in which officials have said they have high confidence, is the most definitive to date linking Mohammed to the operation and complicates the Trump administration’s efforts to preserve its relationship with a close ally.

A team of 15 Saudi agents flew to Istanbul on government aircraft in October and killed Khashoggi inside the Saudi consulate, where he had come to pick up documents that he needed for his planned marriage to a Turkish woman.

More…

 

Jim & Bill,

On Saturday, we talked about Trump losing it. This, from the Saker a few weeks ago.

Dave

Trump Goes Full Retard… (UPDATED)
November 02, 2018

I can’t say that I am ‘surprised’, but still, I am.  That he would actually do this really makes reality even weirder than fantasy.  Check out what The Donald posted today:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I think that if I was a kinder person I would probably be embarrassed for him, but I cannot muster enough kindness in me for that.  To me, he looks like one delusional and pompous ass with a serious narcissistic personality disorder to boot.  To think that he actually controls the US nuclear arsenal (at least in theory) is outright frightening.

I suppose that these “tweets” are this idiot’s idea of communicating a message so I will place this in the “speeches and statements” section and nevermind that “tweets” are something which is associated with bird and, hence, bird-brains.

More…

 

Courtesy of Dave.

Breaking/Exclusive: NEO, Why the Khashoggi Murder Really Matters
November 17, 2018

By Gordon Duff

[Editor’s note:  Today, the CIA threw MBS under a bus, telling the Washington Post that they have proof the Saudi Crown Prince ordered the brutal dismembering of Washington Post correspondent Jamal Khashoggi, a Virginia resident.

Their failed cover story is that they planned to “repatriate” him, an effort which began when they put a plastic bag over his head.  I am certain Khashoggi saw that as a sign things were beginning to go very wrong since CIA records now show the same folks who brought the Glad Freezer Bags for his body parts also brought electric bone saws with the proper connectors to run on the Turkish power grid.

We tell the real truth, that the “slice and dice rendition” is a Gina Haspel special. We might go a bit further, pointing out that Ms. Haspel is an Israeli citizen planted as a mole inside the CIA to destroy both the US and Saudi Arabia, but that is for another article. G]

[ Editor’s Note Two: As is often the case, only VT will touch the third rail of the Kashoggi killing. The others don’t have the background, the sources, or the connecting the dots talent without the necessary 30 to 40 years of experience in doing it.

No one has dared bring the Kashoggi killing to the door step of rogue operators in the US, at the highest levels. You have it all below, an early Thanksgiving present.

As for framing, Gordon used the massive coverage on the British Skirpal psyops, a pitiful affair, but one that mass media put wind in its sails by not punching holes in it early on, which a smart elementary school kid could have done.

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Jim,

With world markets priced for perfection, this is not good news.

Dave

Unexpected Decline In German Industry Output Hints At Economic Slowdown
October 7, 2018

Michelle Martin

BERLIN (Reuters) – German industrial output dipped unexpectedly in August for the third time in as many months, data showed on Monday, suggesting Europe’s largest economy lost steam in the third quarter.

Data from the Economy Ministry showed industrial output fell 0.3 percent in August, confounding a Reuters forecast for a rise of 0.4 percent. It followed a fall of 1.3 percent in July, itself a downward revision of an earlier, stronger number.

Jennifer McKeown, economist at Capital Economics, said the weak reading, combined with a recent downturn in retail sales, indicated the economy had not sustained its strong start to the year.

“August’s 0.3 percent fall in German industrial production is much weaker than expected and suggests that the economy is very unlikely to match the second quarter’s 0.5 percent expansion in the third quarter,” she said.

More…

 

Jim/Bill,

We warned listeners this was not going to end well.

Dave

“It Will Be A Cold War”: APEC Summit Ends In Unprecedented Chaos After Dramatic US-China Showdown
November 18, 2018

One day after vice president Mike Pence and China’s president Xi Jinping clashed after exchanging sharply worded barbs in a showdown between the two superpowers, on Sunday the annual Asia-Pacific Economic Cooperation summit ended in unprecedented chaos and disarray, without agreement on a joint communique for the first time in its history as the escalating rivalry between the United States and China dominated proceedings and reflected escalating trade tensions.

Competition between the United States and China over the Pacific was also thrown into focus with the United States and its Western allies launching a coordinated response to China’s Belt and Road program, Reuters added.

One diplomat told Reuters tension between the U.S. and China, bubbling all week, erupted when the Chinese government’s top diplomat, Wang Yi, objected during a leaders’ retreat to two paragraphs in a draft document seen by Reuters. One mentioned opposing “unfair trade practices” and reforming the WTO, while another concerned sustainable development.

“These two countries were pushing each other so much that the chair couldn’t see an option to bridge them,” said the unnamed diplomat. “China was angered that the reference to WTO blamed a country for unfair trade practices.”

More…