Bernanke: America Facing Financial 'Armageddon'


CBO chief says debt 'unsustainable'.


The Fatal Flaw of Democracy is Here and Now...and What to Do


Meredith Whitney: Housing Will Fall Again



A Pocketbook Of Gold Posted: Apr 08 2010 By: Jim Sinclair Post Edited: April 12, 2010 at 2:18 pm
Filed under: General Editorial
Dear CIGAs,
With the assistance of a good friend and contributor to JSMineset, Mr. Peter Carlin, Jim has co-authored a book that will be released here on JSMineset before anywhere else.
A limited leather bound edition has been printed on top quality paper for JSMineset readers. Supply of these Pocketbooks are EXTREMELY limited. If you want a copy, this is your chance to order it.
The price is $39.99 plus a flat rate shipping cost of $5.00.
You can place your order by clicking the button below. You can pay via major credit card or PayPal.
http://jsmineset.com/2010/04/08/a-pocketbook-of-gold/
Synopsis:
"A Pocketbook of Gold gives you, in one easy handbook, the reasons why you should own Gold, the timing of when you should own Gold, and the types of Gold you should (and shouldn’t!) own. A Pocketbook of Gold also explains the true role of Gold in every individual’s financial planning as well as Gold’s place in the world monetary system. It is an all-in-one Pocketbook that answers your questions and guides you through the world of Gold as a personal form of investment and financial insurance in today’s increasingly uncertain financial outlook. A Pocketbook of Gold is a survival manual for monetary mayhem."


The Power of Gold


With 1 in 5 Americans Out Of Work, Obama Issues One Million Green Cards



Did The Fed Just (Surreptitiously) Bail Out Europe?



Gold hits record high for British investors; The price of gold has risen to an all-time high in sterling and euro terms.



S&P: US Companies Face $2T "Wall of Debt"- Bloomberg



Morgan Stanley Property Fund Faces $5.4B Loss- Wall Street Journal



Going for Broke in LA?- LA Times



Illinois Is "Poster Child" of Debt Crisis- Bloomberg



Jim Sinclair’s Commentary
At the time of the Lehman crisis, bailout money from the Fed could have been legally lent to banks, financial institutions, partnerships, individuals and hedge funds. This is why the facts cannot come out.
This is fact, not conjecture.


Fed Shouldn’t Reveal Crisis Loans, Banks Vow to Tell High Court By Bob Ivry
April 14 (Bloomberg) —


The biggest U.S. commercial banks will take their fight against disclosure of Federal Reservelending in 2008 to the Supreme Court if necessary, the top lawyer for an industry-owned group said.
Continued legal appeals will delay or block the first public look at details of the central bank’s $2 trillion in emergency lending during the 2008 financial crisis. The Clearing House Association LLC, a group that includes Bank of America Corp. and JPMorgan Chase & Co., joined the Fed in defense of a lawsuit brought by Bloomberg LP, the parent company of Bloomberg News, seeking release of records related to four Fed lending programs.
The U.S. Court of Appeals in Manhattan ruled March 19 that the central bank must release the documents. A three-judge panel of the appellate court rejected the Fed’s argument that disclosure would stigmatize borrowers and discourage banks from seeking emergency help.
“Our member banks are very concerned about real-time disclosure of information that could cause a run on the banks,” said Paul Saltzman, the group’s general counsel, in an interview yesterday. “We’re not going to let the Second Circuit opinion stand without seeking a review.”
Regardless of whether the Fed appeals, the Clearing House will take the next legal step by asking for a review by the full appellate court, Saltzman, 49, said at his office in New York. If the ruling is unfavorable, the bank group will petition the Supreme Court, he said.
More…





Quote of the day

"This year Americans will pay more in taxes than they will for food, clothing and housing combined!! And for every dollar we pay the government in federal taxes, Washington spends $1.60. Who pays the difference? I will give you one guess... Us! "

Peter Schiff