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In the News Today
Jim Sinclair’s Commentary
This is the mechanism of the marketplace which according to eminent commentary is BROKEN.
Yet, 99% of those that read this will do absolutely nothing to protect themselves.
You must be your own Clearinghouse and your own Central Bank.
You must as a minimum use the direct registration system for your shares.
You must not use the futures market as a storehouse of physical.
If you must speculate you need to transfer excess out every day.
Keep in mind I once owned a Clearinghouse, Sinclair Global Clearing located in Chicago.
I know what I am speaking about.
1/09/2012 @ 2:04PM
The Neverending MF Global Story: Regulators Block The Truth
Instead of looking out for MF Global investors – and customers who are still waiting for their money – it looks like regulators and the bankruptcy trustees are busy suppressing information. Instead of full transparency, regulators and the trustees are holding onto crucial details that might tell us all who was asleep at the wheel when the broker/dealer and futures commission merchant (FCM) headed over the cliff.
Bob English, an independent trader and contributing editor to the blog, Economic Policy Journal, published a post this morning that raises serious questions about the Securities and Exchange Commission’s program of regulation for broker/dealers and, in particular, the agency’s role in keeping the truth from the public about what went wrong at MF Global. We’re also being kept from the truth about other broker/dealers who may be putting risky trades on their books or whose controls over segregation of customer assets may be weak or non-existent.
More…
Jim Sinclair’s Commentary
Remember the movie “Wag the Dog” and the war cry, “Bring back Old Shoe?” It might be time to rent the video, get some chips & beer, and take a lesson in modern political theory.
Iran sentences US man to death for working for CIA, adds tension to spat over nuclear program
By Associated Press, Updated: Monday, January 9, 7:19 AM
TEHRAN, Iran — An Iranian court has convicted an American man of working for the CIA and sentenced him to death, state radio reported Monday, in a case adding to the accelerating tension between the United States and Iran.
Iran charges that as a former U.S. Marine, Amir Mirzaei Hekmati, received special training and served at U.S. military bases in Iraq and Afghanistan before heading to Iran for his alleged intelligence mission. The radio report did not say when the verdict was issued.
The 28-year-old former military translator was born in Arizona and graduated from high school in Michigan. His family is of Iranian origin. His father, a professor at a community college in Flint, Michigan, has said his son is not a CIA spy and was visiting his grandmothers in Iran when he was arrested.
Behnaz Hekmati, his mother, said in an email to The Associated Press that she and her husband, Ali, are “shocked and terrified” that their son has been sentenced to death. She said the verdict is “the result of a process that was neither transparent nor fair.”
Under Iranian law, he has 20 days to appeal. Hekmati has a court-appointed lawyer who was identified only by his surname, Samadi, and there was no word about an appeal.
More…
Last Friday, the Bureau of Labor Statistics (BLS) said 200,000 new jobs were created which dropped the unemployment rate to 8.5%. Break out the party hats and champagne, we’ve finally hit bottom and are heading back up! That’s the way the mainstream media (MSM) reported it, and in a campaign year, President Obama took a victory lap. Reuter’s reported Obama said, “We’re making progress. We’re moving in the right direction. And one of the reasons for this is the tax cut for working Americans that we put in place last year. . . .When Congress returns they should extend the middle class tax cut for all of this year, to make sure we keep this recovery going.”
More…
Jim Sinclair’s Commentary:
Another instance of replacement. Quietly, it spreads.
Iran, Russia Replace Dollar with National Currencies in Trade Exchanges
TEHRAN (FNA)- Iran and Russia have replaced US Dollar with their own currencies in their trade ties, a senior Iranian diplomat announced on Saturday.
Speaking to FNA, Tehran’s Ambassador to Moscow Seyed Reza Sajjadi said that the proposal for replacing US Dollar with Ruble and Rial was raised by Russian President Dmitry Medvedev in a meeting with his Iranian counterpart Mahmoud Ahmadinejad in Astana on the sidelines of the Shanghai Cooperation Organization (SCO) meeting.
“Since then, we have acted on this basis and a part of our interactions is done in Ruble now,” Sajjadi stated, adding that many Iranian traders are using Ruble for their trade deals.
“There is a similar interest in the Russian side,” the envoy stated, adding that that Moscow is against unilateral sanctions on Iran outside the UN Security Council, specially the recent sanctions against Iran’s Central Bank (CBI).
“The move (imposing sanction on the CBI) is unacceptable. Russians have clearly announced that they will not accept these sanctions and Iran’s nuclear issue is resolvable just through negotiations.”
More…
from mathaba.net
Amnesty International is getting a taste of Karma and reality: Muammar Gaddafi is leading the Human Right Hero of 2011 award of Amnesty International USA’s online poll.
Voting in an online poll by Amnesty International USA for “Human Rights Hero of 2011″ is bringing up some human rights champions, that the western media have ignored. One favorite is Michael Jackson, and another is a human rights activist in Bahrain, Nabeel Rajab, while currently in the lead with more people still voting, is Muammar Gaddafi.
Allowing for the fact that Arabic names have numerous spellings, the race is clearly between Nabeel Rajab and Muammar Gaddafi. Votes are still for the entire month of January, so please continue to vote for Muammar Gaddafi, for reasons we elaborate upon below (and please use that exact spelling when voting).
Many people in the world are happy to see Muammar Gaddafi on the top of voting for the “Human Rights Hero of 2011″ award, after he had been due to receive a United Nations award for his contribution to human rights, but instead one month before it was due, the United Nations allowed bankrupted western countries to wage a massive war on Libya, killing over 100,000 and razing entire cities to the ground, while the media focused on the spreading of rumors and disinformation.
Fears are that Amnesty International, which earned the nickname Amnesia International because of its failure to expose and oppose the massive human rights violations of NATO and its mercenaries in Libya, in spite of wide spread video, photographic and documentary evidence, will avoid giving him this prize too.
Read More @ mathaba.net
Amnesty International is getting a taste of Karma and reality: Muammar Gaddafi is leading the Human Right Hero of 2011 award of Amnesty International USA’s online poll.
Voting in an online poll by Amnesty International USA for “Human Rights Hero of 2011″ is bringing up some human rights champions, that the western media have ignored. One favorite is Michael Jackson, and another is a human rights activist in Bahrain, Nabeel Rajab, while currently in the lead with more people still voting, is Muammar Gaddafi.
Allowing for the fact that Arabic names have numerous spellings, the race is clearly between Nabeel Rajab and Muammar Gaddafi. Votes are still for the entire month of January, so please continue to vote for Muammar Gaddafi, for reasons we elaborate upon below (and please use that exact spelling when voting).
Many people in the world are happy to see Muammar Gaddafi on the top of voting for the “Human Rights Hero of 2011″ award, after he had been due to receive a United Nations award for his contribution to human rights, but instead one month before it was due, the United Nations allowed bankrupted western countries to wage a massive war on Libya, killing over 100,000 and razing entire cities to the ground, while the media focused on the spreading of rumors and disinformation.
Fears are that Amnesty International, which earned the nickname Amnesia International because of its failure to expose and oppose the massive human rights violations of NATO and its mercenaries in Libya, in spite of wide spread video, photographic and documentary evidence, will avoid giving him this prize too.
Read More @ mathaba.net
by Chris Buckley, Reuters:
China’s
Ministry of Defence warned the United States on Monday to be “careful
in its words and actions” after announcing a defence rethink that
stresses responding to China’s rise by shoring up U.S. alliances and
bases across Asia.
The statement from the ministry spokesman Geng Yansheng was Beijing’s fullest reaction so far to the new U.S. strategy unveiled last week. It echoed the mix of wariness and outward restraint that has marked China’s response to the Obama administration’s “pivot” to Asia since late last year.
“We have noted that the United States issued this guide to its defence strategy, and we will closely observe the impact that U.S. military strategic adjustment has on the Asia-Pacific region and on global security developments,” Geng said in a statement issued on the ministry’s website (www.mod.gov.cn).
“The accusations leveled at China by the U.S. side in this document are totally baseless,” said Geng.
Read More @ Reuters.com
The statement from the ministry spokesman Geng Yansheng was Beijing’s fullest reaction so far to the new U.S. strategy unveiled last week. It echoed the mix of wariness and outward restraint that has marked China’s response to the Obama administration’s “pivot” to Asia since late last year.
“We have noted that the United States issued this guide to its defence strategy, and we will closely observe the impact that U.S. military strategic adjustment has on the Asia-Pacific region and on global security developments,” Geng said in a statement issued on the ministry’s website (www.mod.gov.cn).
“The accusations leveled at China by the U.S. side in this document are totally baseless,” said Geng.
Read More @ Reuters.com
by William K. Black, New Economic Perspectives:
The New York Times published a column by its leading financial experts, Gretchen Morgenson and Louise Story, on November 22, 2011 which contains a spectacular charge against the Obama administration’s financial regulatory leaders. I have waited for the rebuttal, but it is now clear that the administration does not contest the charge.
The specific example that prompted the NYT article (“Financial Finger-Pointing Turns to Regulators”) was a civil action against a former executive of IndyMac. IndyMac was supposed to be regulated by the Office of Thrift Supervision (OTS). OTS was the worst of the federal financial regulators – which is a large statement. It was so bad that the Dodd-Frank Act killed it. I used to work for OTS. One of the things I did to make myself unemployable during the S&L debacle was to testify before Congress against the head of our agency, Danny Wall, and our head of supervision, Darrell Dochow. Wall resigned in disgrace and Dochow was demoted and sent back to run the obscure office he had once run in Seattle.
Read More @ NewEconomicPerspectives.Blogspot.com
The New York Times published a column by its leading financial experts, Gretchen Morgenson and Louise Story, on November 22, 2011 which contains a spectacular charge against the Obama administration’s financial regulatory leaders. I have waited for the rebuttal, but it is now clear that the administration does not contest the charge.
The specific example that prompted the NYT article (“Financial Finger-Pointing Turns to Regulators”) was a civil action against a former executive of IndyMac. IndyMac was supposed to be regulated by the Office of Thrift Supervision (OTS). OTS was the worst of the federal financial regulators – which is a large statement. It was so bad that the Dodd-Frank Act killed it. I used to work for OTS. One of the things I did to make myself unemployable during the S&L debacle was to testify before Congress against the head of our agency, Danny Wall, and our head of supervision, Darrell Dochow. Wall resigned in disgrace and Dochow was demoted and sent back to run the obscure office he had once run in Seattle.
Read More @ NewEconomicPerspectives.Blogspot.com
by Julian D. W. Phillips, GoldSeek.com:
Currency Debasement & Price Stability Risks
Despite the small moves in exchange rates between the U.S. dollar and the euro, confidence and trust has been debased. Looking forward to 2012, we see that deflation is becoming a rising danger. After the decay in 2011 that has hammered confidence in the euro, the need to issue more and more ‘new’ money is growing. The Eurozone is moving into recession (if it is not already in one). The Eurozone is more than likely to lose one or more of its weaker members –this will be good for the euro itself though—so liquidity shortages may force more money supply growth already exceptionally high in many countries.
Despite the 40-year long campaign to prevent gold from returning to any active role in the developed world’s monetary system, gold remains the only universally-accepted currency whose supply cannot be increased by policy-makers. The equivalent of money issuance for gold is new mine production, which has been on a relatively flat trend for the past ten years.
Read More @ GoldSeek.com
Currency Debasement & Price Stability Risks
Despite the small moves in exchange rates between the U.S. dollar and the euro, confidence and trust has been debased. Looking forward to 2012, we see that deflation is becoming a rising danger. After the decay in 2011 that has hammered confidence in the euro, the need to issue more and more ‘new’ money is growing. The Eurozone is moving into recession (if it is not already in one). The Eurozone is more than likely to lose one or more of its weaker members –this will be good for the euro itself though—so liquidity shortages may force more money supply growth already exceptionally high in many countries.
Despite the 40-year long campaign to prevent gold from returning to any active role in the developed world’s monetary system, gold remains the only universally-accepted currency whose supply cannot be increased by policy-makers. The equivalent of money issuance for gold is new mine production, which has been on a relatively flat trend for the past ten years.
Read More @ GoldSeek.com
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