Posted at 6:51 PM (CST) by & filed under Jim's Mailbox.

Jim,

This story is spot on and I am afraid Europe has already lost because they don’t have the weapons and DO mentality like the Americans have. Americans next to that have more an awareness and concept of property and of ownership, boundaries and nationalism (you see the american flag everywhere, Europe doesn’t have that). Europeans just don’t want to SEE it they don’t have the VISION till it will be too late.

Europeans want to be TOO social and TOO politically correct and they don’t see that they are undermining their own right of existence because these tribal people are still living in the Middle Ages and need to conquer and everybody that is being considered weak will be overrun. You can’t fight brutes with teddybear!!!

The US is an ocean away so just from a logistic point of view it will be more difficult though we always have to watch out for the trojan horse born outside or inside the US. It is about the motivation and beliefs that lone wolf crap of media doesn’t have any meaning look what motivates people.

Troubling times also with the increasing standoffishness between the rival parties in the US. It seems it is all converging the financial, social and geopolitical breakdowns, they always go together because tolerance evaporates.

Best

GG

Germany: Police Powerless Against Middle Eastern Crime Gangs
June 18, 2017

A court in Hanover has handed suspended sentences to six members of a Kurdish clan who seriously wounded two dozen police officers during a violent rampage in Hameln. The court’s ruling was greeted with anger and derision by police who said it is yet another example of the laxity of Germany’s politically correct judicial system.

The case goes back to January 2014, when a 26-year-old clan member, arrested for robbery, tried to escape from the magistrate’s office by jumping out of a seventh-floor courtroom window. The suspect was taken to the hospital, where he died. Members of his clan subsequently ransacked the hospital, as well as the court, and attacked police with rocks and other projectiles; 24 police officers and six paramedics were injured.

The judge said he was lenient because the defendants witnessed the death of the 26-year-old and were traumatized. The judge also revealed that he had reached a deal with the clan, which among other effects prevented police from testifying in court.

More…

Soft Sharia in Turkey
June 18, 2017

The good news about Turkish justice is that despite 15 years of not-so-creeping Islamization, court verdicts do not yet sentence wrongdoers to public lashing, stoning, amputations or public hangings in main city squares. The bad news about the Turkish justice system is that it is increasingly religiously ideological, reminiscent of the Ottoman justice system where non-Muslims were legally inferior to the Muslims and were, in principle, expected to be constantly reminded of their inferiority to the dominant community through restrictions and markers.

In 21st century Turkey, fortunately, there are not [yet] markers revealing non-Muslim citizens or laws discriminating against non-Muslims. Nevertheless, with or without markers, there is positive discrimination in favor of pious Muslims and against the others. Turkish law enforcement is embarrassingly pro-pious Sunni Muslim.

Turkey, nominally, is not a Sharia state. But it is becoming one on a de facto basis. In January, President Recep Tayyip Erdogan’s government issued a decree stipulating that law enforcement officials, including security officials, police and coast guard officers, could lose their jobs if they marry a “known adulterer.” The legislation reads that law enforcement officials cannot “intentionally marry a person who is known to be impure, or to stay in a marriage, or continue to live with such a person.” The offense is punishable by up to 24 months’ suspension from work. In addition, the decree covers stricter rules against drinking, gambling, the vague and emphatic “going to places that would ruin your reputation,” as well as “excessive spending,” all while off duty.

More…

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

Bill Holter’s Commentary

Don’t worry, Illinois is an isolated case…

Official Warns Illinois Finances In ‘Massive Crisis Mode’
June 17, 2017

CHICAGO (AP) — The Illinois official responsible for paying the state’s bills is warning that new court orders mean her office must pay out more each month than Illinois receives in revenue.

Comptroller Susana Mendoza must prioritize what gets paid as Illinois nears its third year without a state budget.

A mix of state law, court orders and pressure from credit rating agencies requires some items be paid first. Those include debt and pension payments, state worker paychecks and some school funding.

More…

Bill Holter’s Commentary

Her favorite number is now “5”, and afforded her under a rule of law she selectively upheld for some and withheld for others.

Senate GOP shifts focus to Lynch
June 18, 2017

Senate Republicans are clamoring to hear from Loretta Lynch after former FBI Director James Comey raised concerns about her involvement in the Hillary Clinton email investigation.

Republicans on the Senate Judiciary Committee are seizing on Comey’s testimony earlier this month that he was concerned over the former attorney general telling the FBI to refer to the Clinton investigation as a “matter,” which resembled the Clinton campaign line.

The move could allow Republicans to attempt to pivot away from the investigation into Russia’s election meddling — which top GOP lawmakers have signaled belongs to the Intelligence Committee — and focus on Lynch, who has long been a target of Republicans.

More…

Jim Sinclair’s Commentary

Interesting when written by a person without our outlook on things.

The 2016 Election and the Demise of Journalistic Standards
May/June 2017

The following is adapted from a speech delivered on April 20, 2017, in Atlanta, Georgia, at a Hillsdale College National Leadership Seminar.

I’ve been a journalist for a long time. Long enough to know that it wasn’t always like this. There was a time not so long ago when journalists were trusted and admired. We were generally seen as trying to report the news in a fair and straightforward manner. Today, all that has changed. For that, we can blame the 2016 election or, more accurately, how some news organizations chose to cover it. Among the many firsts, last year’s election gave us the gobsmacking revelation that most of the mainstream media puts both thumbs on the scale—that most of what you read, watch, and listen to is distorted by intentional bias and hostility. I have never seen anything like it. Not even close.

More…

Bill Holter’s Commentary

Normally, one only has two feet to shoot off, CNN is starting to look like a centipede…

Huge CNN Fail! Audience Survey Backfires & Shows 75 Percent Of Audience Thinks Trump Should Not Be Investigated For Obstruction
June 18, 2017

CNN is having a bad day…. strike that, they are having a very, very a bad month if their ratings are anything to go by as the numbers for the week of June 5, 2017, they didn’t even make the top five ‘Basic Cable Top 5 – Prime time (Total Viewers)’ and came in number 4 out of five in ‘Basic Cable Top 5 – Total Day (Total Viewers)’, behind Fox News, Nickelodeon, and MSNBC.

From their own voter panel survey backfire on June 8, 2017, to their public challenge to President Trump to provide proof of MSM “fake news”, which the Daily Caller was only to happy to do in an article in response to that challenge, to their most recent “unscientific” online survey (meaning they could not weight the demographics to skewer the poll results for results they want), they are seeing backfire after backfire in their attempts to “spin” their liberal bias.

Is it any wonder that Americans marched over to CNN headquarters on Saturday to protest the “journalistic malpractice on a daily basis,” that CNN airs.

More…

Bill Holter’s Commentary

This is the predictable event that must take place when under stress conditions you mingle the culture of the village with the culture of advanced society. Villagers see all of the related as friend, all others as enemy. They see village safe and outside of the village as dangerous. Law is only the traditional value of the village and in no way the highest good of all. This IS what Merkel and Obama have given us all. The gift is more lack of the rule of law and potential societal break down as a reaction to the primitive ways of much of the Middle East. Just look how the Venezuelan people are handling internal crime amongst their own. How will the German people deal with crime from a foreign and invading force? Will Americans accept this or will they turn it into a cage match where two enter but only one leaves?

Germany: Police Powerless Against Middle Eastern Crime Gangs
June 18, 2017

A court in Hanover has handed suspended sentences to six members of a Kurdish clan who seriously wounded two dozen police officers during a violent rampage in Hameln. The court’s ruling was greeted with anger and derision by police who said it is yet another example of the laxity of Germany’s politically correct judicial system.

The case goes back to January 2014, when a 26-year-old clan member, arrested for robbery, tried to escape from the magistrate’s office by jumping out of a seventh-floor courtroom window. The suspect was taken to the hospital, where he died. Members of his clan subsequently ransacked the hospital, as well as the court, and attacked police with rocks and other projectiles; 24 police officers and six paramedics were injured.

The judge said he was lenient because the defendants witnessed the death of the 26-year-old and were traumatized. The judge also revealed that he had reached a deal with the clan, which among other effects prevented police from testifying in court.

More…

Soft Sharia in Turkey
June 18, 2017

The good news about Turkish justice is that despite 15 years of not-so-creeping Islamization, court verdicts do not yet sentence wrongdoers to public lashing, stoning, amputations or public hangings in main city squares. The bad news about the Turkish justice system is that it is increasingly religiously ideological, reminiscent of the Ottoman justice system where non-Muslims were legally inferior to the Muslims and were, in principle, expected to be constantly reminded of their inferiority to the dominant community through restrictions and markers.

In 21st century Turkey, fortunately, there are not [yet] markers revealing non-Muslim citizens or laws discriminating against non-Muslims. Nevertheless, with or without markers, there is positive discrimination in favor of pious Muslims and against the others. Turkish law enforcement is embarrassingly pro-pious Sunni Muslim.

Turkey, nominally, is not a Sharia state. But it is becoming one on a de facto basis. In January, President Recep Tayyip Erdogan’s government issued a decree stipulating that law enforcement officials, including security officials, police and coast guard officers, could lose their jobs if they marry a “known adulterer.” The legislation reads that law enforcement officials cannot “intentionally marry a person who is known to be impure, or to stay in a marriage, or continue to live with such a person.” The offense is punishable by up to 24 months’ suspension from work. In addition, the decree covers stricter rules against drinking, gambling, the vague and emphatic “going to places that would ruin your reputation,” as well as “excessive spending,” all while off duty.

More…

Jim Sinclair’s Commentary

If you send it by email or text, you might as well put it on a billboard. I am sure many of the assumed encrypted sites are operated by the NSA and CIA. How about free conference calls and meeting sites? There is no such thing as free.

‘CIA’s Cherry Bomb’: WikiLeaks #Vault7 reveals wireless network targets
June 15, 2017

The latest Wikileaks Vault7 release reveals details of the CIA’s alleged Cherry Blossom project, a scheme that uses wireless devices to access users’ internet activity.

The Cherry Blossom program also provides a means to perform software exploits on particular ‘targets’, meaning the hacker can take advantage of vulnerabilities on the target’s device, according to a Wikileaks press release.

Wikileaks notes that the common use of WiFi devices in homes, offices, and public spaces makes them ideal for these so-called ‘Man-In-The-Middle’ attacks as the Cherry Blossom program can easily monitor, control and manipulate the Internet traffic of connected users.

More…

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

Bill Holter’s Commentary

So why is it they continually say “gold doesn’t matter”? It seems in this case it mattered a lot!

Hillary Emails Reveal NATO Killed Gaddafi to Stop Libyan Creation of Gold-Backed Currency
June 16, 2017

One of the 3,000 Hillary Clinton emails released by the State Department on New Year’s Eve (where real news is sent to die quietly) has revealed evidence that NATO’s plot to overthrow Gaddafi was fueled by first their desire to quash the gold-backed African currency, and second the Libyan oil reserves.

The email in question was sent to Secretary of State Hillary Clinton by her unofficial adviser Sydney Blumenthal titled “France’s client and Qaddafi’s gold”.

From Foreign Policy Journal:

The email identifies French President Nicholas Sarkozy as leading the attack on Libya with five specific purposes in mind: to obtain Libyan oil, ensure French influence in the region, increase Sarkozy’s reputation domestically, assert French military power, and to prevent Gaddafi’s influence in what is considered “Francophone Africa.”

Most astounding is the lengthy section delineating the huge threat that Gaddafi’s gold and silver reserves, estimated at “143 tons of gold, and a similar amount in silver,” posed to the French franc (CFA) circulating as a prime African currency.

More…

Posted at 2:46 PM (CST) by & filed under In The News.

Judicial Watch Sues for Comey Memo
June 16, 2017

(Washington, DC) – Judicial Watch today announced it filed a Freedom of Information (FOIA) lawsuit against the U.S. Department of Justice for information about former FBI Director James Comey’s memorandum written after his meeting with President Trump regarding potential interference by the Russians in the 2016 presidential election (Judicial Watch v. U.S. Department of Justice (No. 1:17-cv-01189)).

The lawsuit was filed in the U.S. District Court for the District of Columbia after the Department of Justice failed to respond to a May 16 FOIA request seeking:

The memorandum written by former Director James Comey memorializing his meeting and conversation with President Trump regarding the FBI’s investigation of potential Russian interference in the 2016 United States presidential election. For purposes of clarification, this memorandum was reportedly written on or about February 13, 2017 and is the subject of a New York Times article … dated May 16, 2017

More…

Posted at 11:58 AM (CST) by & filed under Jim's Mailbox.

Jim/Bill,

One down……..49 to go.

CIGA Wolfgang Rech

Illinois’ Economic Growth Is Worse Than During The Great Depression
June 14, 2017

Illinois’ total state economic activity has increased by only 4 percent since 2007, which is lower than the U.S.’ 10 percent GDP growth during the worst decade of the Great Depression

There are fewer Illinoisans working today than there were 10 years ago. Millions of Illinoisans are feeling the brunt of the state’s economic pain and financial meltdown in the form of joblessness and hopelessness. Too many families are dealing with unemployment and underemployment, and too few are able to find their dream jobs in the Land of Lincoln. That’s because Illinois has the Great Depression economy of the Midwest.

In fact, Illinois’ economic growth is worse than during the worst years of America’s Great Depression. Illinois’ gross state product, which measures total economic activity, has increased by barely more than 4 percent over the past decade. In comparison, the U.S. gross domestic product during America’s Great Depression increased by nearly 10 percent during the worst decade of the Great Depression, from 1930-1939.

clip_image002

More…

Unable To Pay Bills, Illinois Sends “Dear Contractor” Letter Telling Firms To Halt Road Work On July 1
June 15, 2017

The state of Illinois has not passed a budget for close to three years.

Arguably it’s just as well because Illinois budgets for decades have been nothing but a moth-eaten collection of lies, one time deficits repeated endlessly, and financial wizardry statements designed to disguise Illinois’ real problems: failure to rein in spending coupled with a very business unfriendly environment.

As Illinois’ bond rating careens towards junk, Illinois Unpaid Bills Jumped to $14.3 Billion. Today, the state told contractors to halt roadwork other than that required for safety.

More…

Posted at 10:35 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

While the tree huggers scream “global warming”, no one even mentions Fukushima. The article doesn’t say where this (these?) fish was found, I would ask if it is a “Fukushima special”? If you recall, we did see some freaky mutations after Chernobyl.

Two-Headed Porpoise Caught In Fishing Net Is First Ever Found
June 14, 2017

Fishers off the coast of the Netherlands got quite a shock when they caught what has now been confirmed as the first case of conjoined twin harbour porpoises (Phocoena phocoena).

With a single body and two fully grown heads, this is a case of partial twinning, or parapagus dicephalus. The sighting is extremely rare: these male porpoises are only the 10th known case of conjoined twins in cetaceans, a group of animals that also includes whales and dolphins.

“The anatomy of cetaceans is strikingly different from terrestrial mammals with adaptations for living in the sea as a mammal. Much is unknown,” says Erwin Kompanje at the Erasmus MC University Medical Center in Rotterdam, and one of the authors of the paper describing the find. “Adding any extra case to the known nine specimens brings more knowledge on this aspect.”

More…

Jim Sinclair’s Commentary

Nice for gold, if it is true.

India Said to Plan Gold Policy Overhaul for $19 Billion Sector
June 15, 2017

India, which vies with China as the world’s top consumer of bullion, is working on new policies to improve transparency and help expand its $19 billion gold jewelry industry, according to people with knowledge of the matter.

The plans being worked out by the finance and commerce ministries along with industry groups should be finalized by the end of March, the people said, asking not to be identified because they aren’t authorized to speak publicly. D.S. Malik, spokesman for the finance ministry, didn’t answer calls to his cellphone. A spokeswoman for the commerce ministry didn’t immediately reply to an email seeking comment.

The launch of a spot bullion exchange, to make gold supply more transparent and help enforce purity standards, is under consideration, the people said. An import tax of 10 percent could also be reduced as the government seeks to eliminate smuggling, they said. The plans also include a dedicated bank for the jewelry industry, according to one of the people.

More…

Why The Almighty Dollar Is Headed For A Fall — Even As Yellen Sounds Hawkish
June 15, 2017

Brace for some risk-off action this morning as discontent is in the air.

A day after the Fed hiked rates as expected and laid out plans to ease off the balance-sheet gas, global equities are sagging, with U.S. stocks, particularly techs, getting hit and precious metals also in meltdown mode.

“The Fed appeared relatively optimistic on the outlook, but investors don’t appear to agree, which is understandable given the mixed first half of the year,” said Craig Erlam, Oanda’s senior market analyst.

More…

Jim Sinclair’s Commentary

A look back to interest rates in the 1930s. Maybe it should be forwarded to our esteemed economic leaders at the Federal Reserve.

The Great Depression of the 1930s and Its Origins

The following graph shows the trends. In 1932 the real interest rate was almost 16 percent per year. The long term average real interest rate for the U.S. is about 3 percent.

The high real interest rates which came as a result of deflation could have been a major factor in the collapse of investment which was the immediate cause of the Depression.

More…

Bill Holter’s Commentary

Filibusters are out…coup’s are in!

Our country borders on anarchy, President Trump can play defense or offense. Judging by his tweets today he has decided on offense and probably did so prior to the inauguration. Has he been playing possum while the evidence was collected? If I had to guess, this has been a very high priority since Jeff Sessions assumed office and the primary reason for the sacking of Comey. All I can say is bring it on along with the resumption of the rule of law! If true, it’ll be one heck of a TRUTH BOMB!

coup

(ko͞o)

n. pl. coups (ko͞oz)

1. A brilliantly executed stratagem; a triumph.

2.

a. A coup d’état.

b. A sudden appropriation of leadership or power; a takeover: a boardroom coup.

3. Among certain Native American peoples, a feat of bravery performed in battle, especially the touching of an enemy’s body without causing injury.

SOURCES: Hillary Clinton To Be Prosecuted Under RICO Act, May Face Prison Time For Selling Influence
June 14, 2017

For decades Bill and Hillary Clinton have gotten away with just about anything they’ve wanted to — and it’s been a lot. They have weathered political scandal after scandal, from Bill’s earliest days as an Arkansas politician and governor, to his time in the White House as president — and Hillary’s years as a lawyer, first lady, U.S. senator and secretary of state.

And while they have suffered some hefty defeats along the way — Bill Clinton became one of just two presidents, along with Andrew Johnson, to be impeached by the House of Representatives, and he lost his law license for a time after having lied to Congress over his affair with Monica Lewinsky; while Hillary has twice failed to follow her husband into the Oval Office — they have never been held legally liable for a number of shady business and political dealings.

The closest either of them came, short of Bill’s impeachment, was last year during the 2016 election cycle, when Hillary was under a criminal investigation for improper use of a private email server and criminal mishandling of highly classified intelligence information. She was never formally charged with any of those crimes; then-FBI Director James Comey laid out several reasons why she should be charged, but then refused to recommend that she actually be charged in what is now being revisited in the current political drama surrounding the Trump White House.

More…

Posted at 3:31 PM (CST) by & filed under Jim's Mailbox.

Jim/Bill,

The labor force participation rate declined by 0.2 percentage points to 62.7 percent in May, but has shown no clear trend over the past 12 months. The employment-population ratio edged down to 60.0 percent in May. (See table A-1).

Don’t forget that the figures are misleading because a lot of people that work part time are included in the employment rate. It is all optics!

CIGA GG

——————————————————————————-

I expect we will see a belated reaction when people finally wake up to what is happening or when we again see some weak economic figures. The US dollar is toast!

CIGA GG

Jim/Bill,

I have only one question………

Who will buy the “crap” (MBS)?

and the bigger “crap” (TRSY’s)?

CIGA Wolfgang Rech

Fed Reveals Balance Sheet “Normalization” Schedule: Will Reduce Reinvestments By $10BN/Month
June 14, 2017

Coming in earlier than many expected, the Fed for the first time laid out how it plans to “normalize” its balance sheet which it expects to reduce by trimming reinvestments in TSYs at a rate of $6Bn/month initially, and MBS at $4Bn/month, or a total of $10bn/month, and will increase the reinvestment caps in steps of 10bn at 3 month intervals over 12 months until it reaches a total 50bn per month.

Indicatively this is well below Goldman’s expectation of $10bn and $5bn initial caps for TSYs and MBS, as we showed over the weekend.

clip_image001

As its said in the addendum to the materials, “the Committee currently expects to begin implementing a balance sheet normalization program this year, provided that the economy evolves broadly as anticipated” with directions to read a Policy Addendum.

More…

——————————————————————————-

One noteworthy reality about Europe’s current political leadership is summarised here by Phil Lawler:

“• Macron, the newly elected French president, has no children.

• German chancellor Angela Merkel has no children.

• British prime minister Theresa May has no children.

• Italian prime minister Paolo Gentiloni has no children.

• Holland’s Mark Rutte,

• Sweden’s Stefan Löfven,

• Luxembourg’s Xavier Bettel,

• Scotland’s Nicola Sturgeon—all have no children.

• Jean-Claude Juncker, president of the European Commission, has no children.

“So a grossly disproportionate number of the people making decisions about Europe’s future have no direct personal stake in that future.”

If true, this is most interesting…

CIGA B

——————————————————————————-

Jim/Bill,

Yields on the 10 year bond crashed from 2.20 to 2.11 this morning, indicating worsening economic activity, continued loose monetary policy, and after today, possibly no more rate hikes…lest we dive into a depression.

The smart money (Bond Market) has voted.

CIGA Wolfgang Rech

GM Extends Plant Shutdowns As Toxic Trifecta For Auto Loans Fuels Carmageddon
June 14, 2017

In yet another unsurprising headline, The Wall Street Journal reports that GM will extend the typical summer shutdown at certain U.S. factories to deal with slumping sales and bloated inventory, a sign the industry’s hot streak is grinding to a halt.

The No. 1 U.S. auto maker in terms of sales will idle its Chevrolet Malibu factory near Kansas City for five weeks starting in late June, Vicky Hale, president of the United Auto Workers Local 31, said. Job cuts will be needed if GM is forced to slow assembly-line speeds when those workers return.

Additional downtime is also slated in Lordstown, Ohio, a small-car factory already stung by deep layoffs related to a pullback in demand for passenger cars. A GM spokesman declined to comment on specific plans.

More…

——————————————————————————-

Tanzania’s Acacia Spat Shows Deepening Battle With Business
June 14, 2017

Tanzanian President John Magufuli’s escalating battles with business risk alienating the very investors he needs to drive his multi-billion dollar industrialization policy.

On Monday, the 57-year-old leader ratcheted up his dispute with miners by accusing Acacia Mining Plc of operating illegally in Tanzania and insisting the government is owed billions of shillings of unpaid taxes. It’s the latest in a series of broadsides against private investors who are being unnerved by his administration’s stance and its lack of consultation on policy. Shares in Acacia, which denies any wrongdoing, slumped as much as 16 percent.

More…

Posted at 12:39 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

And now for the heinous reactions…This is a sickness that spreads our nation, the ignorance and hate is incalculable. As I asked yesterday regarding the NY Times, what would have been the reaction if the situation were reversed? Can you not see civil war as the most logical result?

Left-Wing Twitter Celebrates Shooting of Rep. Scalise [UPDATED]
June 14, 2017

No sooner did news break that a gunman shot Rep. Steve Scalise (R-La.) were left-wing Twitter users celebrating the attack — in which two Capitol Police were also shot, as well as a congressional staffer, and possibly more.

Activist and media personality, Tariq Nasheed, appeared to indicate support for the shooting on Twitter:

More…

Bill Holter’s Commentary

Another visual for you. China’s liquidity is now “growing” (actually shrinking?) at the lowest level in over 20 years. Please remember this, ALL Ponzi schemes must grow, and GROW exponentially over time to survive. The Chinese are well aware of this and why they have stocked up on real money (gold) over these past years. Could it be “they” are pulling the plug and will end up with all the marbles (gold and infrastructure)? The Chinese are very smart people and know history as well as anyone, Mao called it correctly on August 15, 1971!

clip_image002[6]

More…

Jim Sinclair’s Commentary

You know they might really believe in their own propaganda. In this case all is lost!

Fed Hikes Interest Rates Despite Declining Inflation, Sets Plan For Balance Sheet Reduction
June 14, 2017

The Federal Reserve approved its second rate hike of 2017 even amid expectations that inflation is running well below the central bank’s target.

In addition, the Fed provided more detail on how it will unwind its $4.5 trillion balance sheet, or portfolio of bonds that includes Treasurys, mortgage-backed securities and government agency debt.

As financial markets had anticipated, the policymaking Federal Open Market Committee increased its benchmark target a quarter point. The new range will be 1 percent to 1.25 percent for a rate that currently is 0.91 percent.

More…

Jim Sinclair’s Commentary

If this was not written by Simon Black, I would not even be in this set of circumstances to believe or reprint it.

Anyone interested in a nice deposit of gold in Africa which actually looks politically more solid than the USA?

You Won’t Believe This Stupid New Law Against Cash And Bitcoin
June 14, 2017

This one is almost too ridiculous to believe.

Recently a new bill was introduced on the floor of the US Senate entitled, pleasantly,

“Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017.”

You can probably already guess its contents.

Cash is evil.

Bitcoin is evil.

Now they’ve gone so far to include prepaid mobile phones, retail gift vouchers, or even electronic coupons. Evil, evil, and evil.

These people are certifiably insane.

More…

Jim Sinclair’s Commentary

Madness, total madness. This is the 1930s all over again, insuring that the US and world economies will be in the “out house” for a considerable period of time. This may be the rest of my life.

10-Year Treasuries Break Key Trendline As Yield Curve Collapses
June 14, 2017

10-year US Treasury yields just broke to 2.10% for the first time since November 10th, and more importantly tumbling through a key trendline support from a year ago…

clip_image002[8]

Sending the yield curve near cycle flats…

clip_image003

More…

Jim Sinclair’s Commentary

Come on now. This chapter of financial history needs its own Tulip Craze. Be fair.

Bundesbank’s Weidmann: Digital Currencies Will Make The Next Crisis Worse
June 14, 2017

When global financial markets crash, it won’t be just “Trump’s fault” (and perhaps the quants and HFTs who switch from BTFD to STFR ) to keep the heat away from the Fed and central banks for blowing the biggest asset bubble in history: according to the head of the German central bank, Jens Weidmann, another “pre-crash” culprit emerged after he warned that digital currencies such as bitcoin would worsen the next financial crisis.

As the FT reports, speaking in Frankfurt on Wednesday the Bundesbank’s president acknowledged the creation of an official digital currency by a central bank would assure the public that their money was safe. However, he warned that this could come at the expense of private banks’ ability to survive bank runs and financial panics.

As Citigroup’s Hans Lorenzen showed yesterday, as a result of the global liquidity glut, which has pushed conventional assets to all time highs, a tangent has been a scramble for “alternatives” and resulted in the creation and dramatic rise of countless digital currencies such as Bitcoin and Ethereum. Citi effectively blamed the central banks for the cryptocoin phenomenon.

More…

More…

Jim Sinclair’s Commentary

Barrack did it again! You have to love his consistency.

Barrick Meets With Government of Tanzania to Commence Negotiations
June 14, 2017

Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (“Barrick” or the “Company”) Executive Chairman John L. Thornton met today with the President of the United Republic of Tanzania, His Excellency Dr. John P. Magufuli, to discuss issues pertaining to Acacia Mining plc (“Acacia”), and the country’s current ban on mineral concentrate exports.

The meeting was constructive and open, with the parties agreeing to enter into negotiations to seek a resolution that is in the best interests of all stakeholders, including Tanzania, Barrick, and Acacia.

More…

Jim Sinclair’s Commentary

There is a very simple answer to that question. YES says JES & Free Gold.

Is The Global Gold Price Really Headed To A Jaw-Dropping $20,000 – $150,000?
June 13, 2017

June 14 (King World News) – Despite having been officially outlawed as money decades ago, gold still remains the primary monetary reserve asset of all major central banks. Based on our remarks in this report and the 10 preceding reports, it should be clear that we believe that gold must be regarded as a monetary asset.

We first presented the so-called “shadow gold price” calculated by Paul Brodsky and Lee Quaintance in 2011. This way of looking at the gold price is by no means a mere intellectual game. Rather, it is in line with how the exchange rate between paper money and gold was determined according to the Bretton Woods agreement (US monetary base divided by US gold reserves). As Brodsky and Quaintance explain:

“The Shadow Gold Price extrapolates forward the Bretton Woods model for valuing US dollars (USD base money/US official gold holdings), used from 1945 to 1973. Rather than fixing the gold/USD exchange rate (at 1/35 of an ounce, which assumed a static quantity of base money), it uses the actual quantity of base money vs. actual gold holdings.

More…