Gerald Celente On GoldSeek Radio Oct. 1st

Prospects for US Economy Either "Fairly Bad"or "Very Bad" Warns Goldman, Sachs

 

Here Is Why The Fed's Strategy Of Getting Retail Investors Into Stocks Via QE2 Will Fail

In The News Today

Posted: Oct 11 2010     By: Jim Sinclair      Post Edited: October 11, 2010 at 1:53 am
Filed under: In The News

Jim Sinclair’s Commentary
There is no way this is going to be swept away from the media now that the Attorney Generals of so many states have taken an interest.

Up to 40 states plan inquiry into foreclosure data By ALAN ZIBEL (AP) – 11 hours ago
WASHINGTON — The attorneys general of up to 40 states plan to announce soon a joint investigation into banks’ use of flawed foreclosure paperwork.
A person briefed on the investigation said Saturday night that an announcement could come as early as Tuesday. The person spoke on condition of anonymity because the investigation was not yet public.
Iowa Attorney General Tom Miller will lead the investigation. Miller already has been leading multistate reviews of questionable foreclosure documents.
A joint investigation by 40 states would further escalate pressure on banks to widen their suspensions of foreclosures. On Friday, Bank of America became the first bank to halt foreclosures in all 50 states.
JPMorgan Chase & Co., Ally Bank’s GMAC Mortgage unit and PNC Financial have stopped foreclosures in the 23 states where foreclosures must be approved by a judge.
The plans for a joint inquiry were reported earlier by Bloomberg News.
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Jim’s Mailbox

Posted: Oct 11 2010     By: Jim Sinclair      Post Edited: October 11, 2010 at 1:50 am
Filed under: Jim's Mailbox
Jim,
You were right again.
CIGA Fran

End to currency dispute eludes finance ministers
Currency war threatens; global finance leaders fail to resolve deep differences at IMF meeting Harry Dunphy and Martin Crutsinger, Associated Press Writers, On Sunday October 10, 2010, 6:27 am EDT
WASHINGTON (AP) — Differences that threaten the outbreak of a currency war persisted after a weekend meeting of global finance ministers, who left without resolving what to do.
They did agree, however, that the 187-nation International Monetary Fund was the organization best suited to deal with rising global currency tensions that risk overshadowing next month’s summit meeting of the Group of 20 nations in South Korea.
The G-20 includes traditional economic powers such as the United States and Europe along with fast-growing economies such as China, Brazil and India.
Various nations are seeking to devalue their currencies as a way to increase exports and jobs during hard economic times. The concern is that such efforts could trigger a repeat of the trade wars that contributed to the Great Depression of the 1930s as country after country raises protectionist barriers to imported goods.
"Currency disputes can easily become trade disputes," cautioned Canadian Finance Minister Jim Flaherty.
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The Footprint Of Control Has Changed For Gold & Silver CIGA Eric
In my commentary entitled Money Flow Footprint For Silver Has Changed I revealed how the "normal" money flow footprint of control had been smashed. Commercial traders, or connected money, has been buying strength rather than selling as silver has risen to levels not seen since 1980. This subtle yet highly significant change in money flow likely reflects the increasing influence of the spot market (physical) on the paper price.
Silver London P.M Fixed and the Commercial Traders COT Futures and Options Stochastic Weighted Average of Net Long As A % of Open Interest:
The change in money flow relative to price, or shift in control, is beginning to show in the gold market as well. The chart below illustrates the emergence of buying rather than selling strength. This subtle change of money flows within the gold market, similar to silver, suggests stress to the mechanism of paper control.
Gold London P.M Fixed and the Commercial Traders COT Futures and Options Stochastic Weighted Average of Net Long As A % of Open Interest:
These subtle changes in money flow in silver and gold likely reflect the growing stress within the financial universe. While the media focuses on the importance of Dow 11,000, they have almost entirely ignored what can only be characterized the nation’s top story. The class action suits under RICO statue filed against mortgage services that those that securitized them into pools for international sale raised serious questions to status or value of the collateral behind these loans; Loans that were already gifted an illusionary value by mark-to-model rather than mark-to-market accounting.

Jim Sinclair’s latest commentary explains it as follows,
I told you about this last week as a class action with a RICO statue was filed against servicers acting for international investment banks to foreclose on loans that represent the collateral for securitized mortgage debt, a fraudulent OTC derivative.
The banksters tried to sneak through a bill that would make their criminal actions legal. The screams were heard in the White House and before the bill passed and all its requirement the President vetoed it. That occurred even before the bill had completed it required procedures. We are now in Crisis #2 which can eclipse anything you have seen yet because of the size of the creation of this pariah in the OTC derivative disaster.
This will not pass quietly. It is going to tear the dickens out of what is left on the financial firms that brought the horror to the Western world. It will be orders of magnitude uglier than anything you have seen so far.
There are no coincidences in the financial world. When unusual changes in the money flows lead and/or coincide with important real-time event, they tend to foreshadow significant financial and social changes. While the headlines urge complacency and reinforce the old paradigm to comfort those that abhor change, they tend to do so at great expense to those that follow them.
Source: jsmineset.com
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Insider Selling To Buying Update: 1,169 To 1

 

 To QE Or Not To QE? 

 

With QE2 "Sealed", Next Rate Hike Won't Come Until 2015 Says Goldman