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In The News Today Posted: Jan 05 2010 By: Jim Sinclair Post Edited: January 5, 2010 at 7:02 pm
Filed under: In The News
Thoughts for Today:
1. Do you know what the practice of Federal Reserve repos are all about? The Fed wants to repo the toxic paper they absorbed from all over. The stuff cannot be valued because each item of the securitized vehicle has independent criteria. The OTC derivative nature of the entire pile of crap the Fed owns is impossible to assign value to and therefore impossible to quantify the losses on. The Federal Reserve would rather take in cash, put out garbage and guarantee the garbage to improve their balance sheet.
When will people learn? You cannot fool the big money, you can only fool the fools.
2. Foreclosures have made up no less than 1/3 of housing sales in 2009. Now Alt A and commercials are rolling over hard.
3. F-TV is offering a new book that blames the problems of the financial industry on Main Street. It offers a nonsensical thesis that Wall Street is the victim and Main Street is the criminal. That would fit in well with the banksters doing the work of god
4. I have received back the first run on a book that I and another wrote concerning what we feel is the consummate argument for gold. This book shows you a very powerful means of supporting gold without having to spend anything, risk anything, yet accomplish much. I will post more word on this when I know the timing of the first print run.
Jim Sinclair’s Commentary

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