Posted at 8:44 AM (CST) by & filed under Jim's Mailbox.

I went through this personally in 90-91, when light aircraft took a hit. European currencies were strong @ the same time and, as a result, but of the small plane fleet got sold to European interests.

You Know It’s Bad When… Prices For Used Jets Are Cratering
June 25, 2017

America’s wealthiest individuals are thriving thanks to an imbalance in wealth accumulation that favors the already asset-rich. But even though the number of millionaires and billionaires living in the US has been climbing, and is on track to increase by nearly 700,000 a year between now and 2021 – so long as the market avoids another crash – an influx of new potential buyers has done little to alleviate a supply glut that has been weighing on used jet prices for years.

As the Financial Times reports, sales prices for used jets have fallen as much as 35% over the past three years, with the average price falling from $13.7 million in April 2014 to $8.9 million today.


“Prices for second-hand private jets, many of which have barely been flown, have dropped as much as 35 per cent over three years to the end of April. The average price of a pre-owned business jet has fallen from $13.7m in April 2014 to $8.9m, according to research by Colibri Aircraft, which specializes in the marketing, resale and purchase of pre-owned private aircraft.



Jim Rogers Warns, Worst Crash In Our Lifetime Coming
June 26, 2017

Legendary investor Jim Rogers say the coming crash will rival anything he has seen in his lifetime.

“Later this year or next …. write it down…”

From Mark Obyrne:

Legendary investor Jim Rogers sat down with Business Insider CEO Henry Blodget on this week’s episode of “The Bottom Line.”

Rogers predicts a market crash “later this year or next …. write it down.” Rogers say the crash will rival anything he has seen in his lifetime.




See what a douchebag that Holder is, he shouldn’t be allowed to practice law. He is a criminal like Goldmans and JPMorgan!


Matt Taibbi on JPMorgan Chase’s Worst Nightmare: The $9 Billion Witness
June 23, 2017

“In reality, there is nothing surprising in Matt Taibbi’s latest piece since returning to Rolling Stone from the Intercept, as it tells a story everyone is by now is all too familiar with: a former bank employee (in this case Alayne Fleischmann) who was a worker in a bank’s (in this case JPM) mortgage operations group, where she observed and engaged in what she describes as “massive criminal securities fraud” and who was fired after trying to bring the attention of those above her to said “criminal” activity.

The story doesn’t end there…

Submitted by James Hall:

The attention that Taibbi is receiving for the Rolling Stone essay, The $9 Billion Witness: Meet JPMorgan Chase’s Worst Nightmare, may push forward a serious debate on the systemic corruption that is common knowledge among informed observers of the financial structure. Zero Hedge can always be depended upon to incisively sum up the issue.


Posted at 8:39 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

Pretty much what John Williams has been telling us…

Durable Goods Orders Tumble (Again) In May, Still 5% Below 2007 Peak
June 26, 2017

Following a big drop in April (revised worse), May’s preliminary durable goods orders tumbled 1.1% MoM (the worst since November). Across the entire report, numbers disappointed with Capital Goods Orders and Shipments both dropping considerably more than expected.


And as a reminder, the need for durable goods orders remains entirely irrelevant to America’s economy (if the latter is judged by the stock market as The Fed and so many others appear to do)…

Durable Goods Orders remain 5% below 2007’s peak (while the S&P is 55% above its 2007 peak).



Bill Holter’s Commentary

Did you even hear about this from the mainstream? Is it fake news or is it real?

The SCO Just Became the World’s Largest Political Organization
June 21, 2017

At the annual summit of the Shanghai Cooperation Organization (SCO), founded in 2001, both India and Pakistan were admitted as full members, alongside Russia, China and four Central Asian “stans” (Kazakhstan, Uzbekistan, Kyrgyzstan and Tajikistan).

So now the SCO not only qualifies as the largest political organization – by area and population – in the world; it also unites four nuclear powers. The G-7 is irrelevant, as the latest summit in Taormina made it clear. The real action now, apart from the G-20, also lays in this alternative G-8.

Permanently derided in the West for a decade and a half as a mere talk shop, the SCO, slowly but surely, keeps advancing a set up that Chinese President Xi Jinping qualifies, in a subdued manner, as “a new type of international relations featuring win-win cooperation.”


Bill Holter’s Commentary

Another warning from the central bank’s central bank.

Great Recession Fears As Bankers Warn Next Global Crash Could Arrive ‘With A Vengeance’
June 26, 2017

A new financial crisis is brewing in the emerging economies and it could hit “with a vengeance”, an influential group of central bankers has warned.

Emerging markets such as China are showing the same signs that their economies are overheating as the US and the UK demonstrated before the financial crisis of 2007-08, according to the annual report of the Bank for International Settlements (BIS).

Claudio Borio, the head of the BIS monetary and economic department, said a new recession could come “with a vengeance” and “the end may come to resemble more closely a financial boom gone wrong”.


Jim Sinclair’s Commentary

You call this a smoothly functioning government, or a successful resistance, or a Coup of Anarchy? You talk of kicking the can down the road.

The countries involved must find this is totally hysterical.

Trump Travel Ban Partly Reinstated; Fall Court Arguments Set
June 26, 2017

WASHINGTON (AP) — The Supreme Court is allowing the Trump administration to go forward with a limited version of its ban on travel from six mostly Muslim countries, a victory for President Donald Trump in the biggest legal controversy of his young presidency.

The justices will hear full arguments in October in the case that has stirred heated emotions across the nation. In the meantime, the court said Monday that Trump’s ban on visitors from Iran, Libya, Somalia, Sudan, Syria and Yemen can be enforced if those visitors lack a “credible claim of a bona fide relationship with a person or entity in the United States.”


Jim Sinclair’s Commentary

The latest from John Williams’

– May 2017 New Orders for Durable Goods Continued the General Pattern of Weaker-than-Expected Headline Economic Reporting
– Despite Downside Revisions to April, May Orders Declined for the Second Month, Both Before and After Inflation and/or Commercial Aircraft Orders
– As Consensus and the Fed Forecasts Shift Towards a Contracting U.S. Economy, Financial Markets Should Face Increasing Instabilities and Turmoil

“No. 895: May 2017 New Orders for Durable Goods”

Posted at 11:18 AM (CST) by & filed under In The News.

If you are a person of any faith, please watch this.  If you are not, these students ask that you stop “prayer shaming”.


Very, VERY powerful and not a single word spoken.

This is an excellent video made in the last few weeks by high school students who don’t say a word in it.

From a Catholic high school (Archdiocese of Hartford, CT) in response to a senator’s remark about  

“Where is God in all the tragedy in the world?”

The End Of Prayer Shaming from East Catholic High School on Vimeo.

Jim Sinclair’s Commentary

The latest from John Williams’

– U.S. Economy Is Turning Down Anew, Threatening Banking-System Stability, Likely to Roil FOMC Policy, with Sharply-Negative Impact on the U.S. Dollar and U.S. Equities, Spiking Inflation and Prices of Gold and Silver
– Major Market Turmoil Increasingly Likely in the Near Future
– Headline Economic Data in the Month Ahead Could Signal a Day-of-Reckoning at Hand
– Despite a Monthly Boost from Falling Gasoline Prices, May 2017 Real Median Household Income Was Statistically Unchanged
– Monthly New- and Existing-Home Sales Rose in May, Yet Both Series Were on Track for Second-Quarter Contractions
– May Existing-Homes Sales Down by 22.7% (-22.7%) and New-Home Sales Down by 56.1% (-56.1%) from Pre-Recession Peaks

“No. 894: Economic- and Financial-System Conditions, May Household Income and Home Sales”

Bill Holter’s Commentary

You can bet this will soon begin to spread, hang on to your insurance!

ECB shuts down Veneto Banca and Banca Popolare di Vicenza.
June 23, 2017

When banks fail and regulators decide to liquidate them, it happens on Friday evening so that there is a weekend to clean up the mess. And this is what happened in Italy – with two banks!

It’s over for the two banks that have been prominent zombies in the Italian banking crisis: Veneto Banca and Banca Popolare di Vicenza, in northeastern Italy.

The banks have combined assets of €60 billion, a good part of which are toxic and no one wanted to touch them. They already received a bailout but more would have been required, and given the uncertainty and the messiness of their books, nothing was forthcoming, and the ECB which regulates them lost its patience.


Bill Holter’s Commentary

Three cheers for the rule of law!

Judge Acts Quickly On Claim Comey Obstructed Justice
June 23, 2017

Hearing scheduled Friday on lawsuit over buried investigation into surveillance

(WND) – A federal judge in Washington, D.C., has acted quickly in a case alleging fired FBI chief James Comey obstructed justice by burying an investigation into the mass surveillance of Americans by their government.

As WND reported, whistleblower Dennis Montgomery – who worked as a contractor for the National Security Agency, the Central Intelligence Agency and the director of national intelligence – and his lawyer, Larry Klayman of Freedom Watch, filed a request for a temporary restraining order and preliminary injunction late Monday.

By late Tuesday, U.S. District Judge Richard Leon scheduled a status conference for Friday afternoon in his Washington courtroom.


Bill Holter’s Commentary

How is this even possible?

“Trading in short-term interest rate futures has also thinned. Tuesday saw no transactions in three-month Tibor futures — the first time that has happened since such trading began in 1989.”

Japan’s government bond market grinding to a halt
June 24, 2017

TOKYO — Yields on newly issued 10-year Japanese government bonds remained flat for seven straight sessions through Friday as the Bank of Japan continued its efforts to keep long-term interest rates around zero.

The 10-year JGB yield again closed at 0.055%, where it has been stuck since June 15. This marks the longest period of stagnation since 1994, according to data from Nikkei affiliate QUICK.

The implied volatility of Japanese government bonds reached its lowest point since January 2008. Trading in newly issued 10-year debt has become so infrequent that broker Japan Bond Trading has seen days when no bonds trade hands.


Bill Holter’s Commentary

You’ve got to be kidding, a socialist would never do anything like this…

Bernie And Jane Sanders, Under FBI Investigation For Bank Fraud, Hire Lawyers
June 23, 2017

Sen. Bernie Sanders, I-Vt., and his wife, Jane Sanders have hired prominent defense attorneys amid an FBI investigation into a loan Jane Sanders obtained to expand Burlington College while she was its president, CBS News confirms.

Politico Magazine first reported the Sanders had hired lawyers to defend them in the probe. Sanders’ top adviser Jeff Weaver told CBS News the couple has sought legal protection over federal agents’ allegations from a January 2016 complaint accusing then-President of Burlington College, Ms. Sanders, of distorting donor levels in a 2010 loan application for $10 million from People’s United Bank to purchase 33 acres of land for the institution.

According to Politico, prosecutors might also be looking into allegations that Sen. Sanders’ office inappropriately urged the bank to approve the loan.


Bill Holter’s Commentary

During private conversation Jim wondered what the percentage of the U.S. population is on anti depressants? It looks like the answer is 13%. When you add in opiod use and high blood pressure medicine the number jumps to 37%. No one as far as I know has asked the question, “what happens to these people after a week without these meds”? This is a very real question because when credit breaks down, distribution will immediately follow. …And we thought TV shows like Zombie apocalypse were fictional?

70 Percent of Americans take Prescription Drugs
June 24, 2017

Fueling the perception that America is an overmedicated society, a new Mayo Clinic study finds that nearly 70 percent of Americans are on at least one prescription drug, and more than half take two.

Researchers found antibiotics, antidepressants and painkilling opioids are the most commonly prescribed.

And one of five patients are on five or more prescription medications, according to the findings, published online in the journal Mayo Clinic Proceedings.


Posted at 2:48 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

It smelled wrong when the news first came out. If this is true, the ramifications are horrifying.

Chinese EMP Hit the Fitzgerald-Nimitz Racing to Scene As War Is Close
June 23, 2017

I publicly stated, on June 21, that the USS Fitzgerald was hit by an EMP. My belief is rooted in several factors which will be discussed by the end of the article. However, the foundation for my belief comes from a two-year-old declassified intelligence report.

The Chinese Make EMP Weapons a Priority

A 2015 declassified intelligence report, obtained by the private National Security Archive, provides details on China’s EMP weapons as well as the plans for their use.

The report details how much of China’s military is developing EMP weapons that the Chinese plan to use against targeted U.S. aircraft carriers with regard to any future conflict over Taiwan. Parts of the National Ground Intelligence Center study on the lethal effects of electromagnetic pulse (EMP) and high-powered microwave (HPM) weapons revealed that the arms are part of what China refers to as the “assassin’s mace”. This arsenal of EMP weapons allows a technologically inferior China to defeat U.S. military forces while leaving much of the surrounding infrastructure intact. It is like the neutron bomb of EMP weaponry.


Bill Holter’s Commentary

We might be able to file this under the “truth bomb” category.

Senate Announces Probe Of Loretta Lynch Behavior In 2016 Election
June 23, 2017

The Senate Judiciary Committee has opened a probe into former Attorney General Loretta Lynch’s efforts to shape the FBI’s investigation into 2016 Democratic presidential nominee Hillary Clinton, the committee’s chairman announced Friday.

In a letter to Ms. Lynch, the committee asks her to detail the depths of her involvement in the FBI’s investigation, including whether she ever assured Clinton confidantes that the probe wouldn’t “push too deeply into the matter.”

Fired FBI Director James B. Comey has said publicly that Ms. Lynch tried to shape the way he talked about the investigation into Mrs. Clinton’s emails, and he also hinted at other behavior “which I cannot talk about yet” that made him worried about Ms. Lynch’s ability to make impartial decisions.


Posted at 12:28 PM (CST) by & filed under

Jim Sinclair’s Commentary

This is logical. Everyone else is working to dump Trump out of the presidency, certainly the MSM and the Elite’s Snobs Club. You think increased interest rates or any kind of normalization is warranted? You are bonkers re: timing.

Fed Trying to Cripple Trump Economy-Danielle DiMartino Booth
June 21, 2017

Financial expert and former top Federal Reserve insider Danielle DiMartino Booth says the latest Fed rate hike is nothing less than an attempt to make life worse for President Trump. DiMartino Booth explains, “They are trying to do the opposite of what they did a year ago because the people who occupy the White House have changed. That’s the only feasible answer I can come up with to explain the Fed tightening into a weakening economy. Their own metrics don’t lie. Nonfarm payroll growth has slowed appreciably over the last 12 months, and their favorite inflation metric is back below 2%. These are the rules they have made up, not me. They (the Fed) are making policies against their own rules, and there has to be a reason for it.”

DiMartino Booth wrote a popular book called “Fed Up” that reveals the Fed’s manipulation of the financial markets and says flat out, “The Federal Reserve is bad for America.” DiMartino Booth says massive manipulation is the only way you can explain rising federal debt and stagnant or falling interest rates on the 10-year Treasury bond. DiMartino Booth contends, “The only way you can fabricate the surreal balance between growing debt and falling interest rates is to manipulate that. . . . These are central bankers gone wild. . . . In 2008 and 2009, the credit markets were closer to $200 trillion in size. Today the credit markets are closer to $300 trillion in size, and we still can’t say what and where the next systemic risk lies.”

On gold, DiMartino says, “I think gold is in the very late stage of a correction phase. Once we get a sniff of true market reaction to any of these geopolitical events, I think you could see gold take off like a boomerang or a hockey stick. . . . If there is any slowing in the global economy, then the safe haven will not necessarily be U.S. Treasuries. The ultimate safe haven is gold.”


Posted at 12:13 PM (CST) by & filed under In The News.

Jim Sinclair’s Commentary

It looks like BS is not floating well. That might well be part of why Trump is president.

Labor Cuts At Liberal Media Outlets, Hundreds Being Let Go
June 14, 2017

Major media outlets, including the Huffington Post, The New York Times, NBC, Vocativ, Newsweek and Time Inc., initiated major layoffs of their labor forces Tuesday and Wednesday.

The NYT and Newsweek have been whispering about mass layoffs for the past year, while HuffPost and Time made their cuts just this week. The move will put hundreds of journalists and media staff out of work while helping digital media continue its rise as the primary source of news and information.

Time announced that it will be laying off about 300 employees through a series of buyouts and layoffs. The move will eliminate 4 percent of its workforce as it looks to cut costs in the midst of lagging sales.