Saturday, November 3, 2012


[Ed. Note: Glenn Beck's analysis that it was not an 'embassy' in Benhgazi but rather a CIA safe house is consistent with the information SGTreport broke in this interview with Susanne Posel 3 days earlier.]
from TheCoop30301:

The Obama Doctrine: American Lives Are Expendable

by Karin McQuillan, American Thinker:
The Obama White House, the Clinton State Department, and Panetta’s Department of Defense have guiding principles in Afghanistan that, if applied to Benghazi, explain the administration’s decision to deny air support to the Americans fighting for their lives on 9/11/12.
The denial of air support to our troops in battle is normal operating procedure for this commander in chief. He doesn’t have to give special orders to do it. It is the Obama Doctrine on the War on Terror: do not kill Muslim civilians. Let American soldiers die instead. That is how Obama thinks he will win the hearts and minds of the Islamic world.
In Afghanistan, the military is required to deny air support, even in the midst of battle, if it could possibly result in civilian casualties.  Under Obama, it is required that the military sacrifice the lives of our soldiers when jihadis are firing from population areas.  The Benghazi safe house where Tyrone Woods, Sean Smith, and the others were defending themselves against al-Qaeda was in a neighborhood.  Therefore, if the Afghanistan rules of engagement were applied, no air support and no reinforcements would be sent.
Read More @

Big Gov’t FAIL: FEMA Out of Water Until Monday, Failed to Plan Ahead!

by Michael Patrick Leahy, Breitbart:
FEMA’s vaunted “lean forward” strategy that called for advanced staging of supplies for emergency distribution failed to live up to its billing in the immediate aftermath of Hurricane Sandy.
In fact, the agency appears to have been completely unprepared to distribute bottled water to Hurricane Sandy victims when the storm hit this Monday. In contrast to its stated policy, FEMA failed to have any meaningful supplies of bottled water — or any other supplies, for that matter — stored in nearby facilities as it had proclaimed it would on its website. This was the case despite several days advance warning of the impending storm.
FEMA only began to solicit bids for vendors to provide bottled water for distribution to Hurricane Sandy victims on Friday, sending out a solicitation request for 2.3 million gallons of bottled water at the website. Bidding closed at 4:30 pm eastern.
Read More @

FEMA orders two million meals for New York and New Jersey residents starving after Hurricane Sandy

by James Smith, Activist Post
The US Department of Homeland Security (DHS), through the Federal Emergency Management Agency (FEMA) has placed a rush order of two million meals to be delivered to Floyd Bennett New York Harbor Parks, and Lakehurst New Jersey.
The solicitation was placed at 2:30 pm EST on 2 November 2012, with a response time of no later than 8 pm on the same day.
The solicitation was amended less than four hours later for providers to provide a quote of four million meals, preferably of the self-heating variety.
Read More @ Activist Post

Another Sandy Lesson: Gov’t Mandated Fixed Pricing Means NOBODY GETS FUEL, Except on Black Market

from ReasonTV :

Brooklyn, NY – It was mayhem Friday afternoon at the Hess Gas Station at 4th Avenue and Union Street, where drivers waited in line for more than six hours to fill up their tanks. A separate line of customers on foot wrapped around the block inching red gas canisters up the sidewalk. The police were on the scene bringing justice to the line cutters.

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Report: Voting Machines in Battleground States Switching ‘Romney’ Votes to ‘Obama’

After complaints from voters in at least six states that their intended votes for Mitt Romney on electronic touchscreen voting machines came up as votes for President Barack Obama, the Republican National Committee (RNC) sent a letter to election officials in six states — Ohio, Nevada, Kansas, North Carolina, Missouri and Colorado — asking them to more strictly monitor their electronic voting machines on Election Day.
John R. Phillippe, Jr. sent a letter to election officials in those six states and asked them to, among other things, “re-calibrate all voting machines on the morning of Election Day before the polls open, or, if necessary, the day before the election” and “make arrangements for additional technicians on Election Day in case of increased calibration problems.”
Read More @

Job Creation Under Barack Obama: Less Than Meets The Eye?

In the aftermath of yesterday's better than expected jobs number there have been many analyses in the media on both sides of the aisle, either attacking or defending Obama's track record in creating jobs. All have come up with arguments which according to their authors, are solid and defensible. There is one analysis, however, which is missing, and that is a follow up of what we showed yesterday in "Chart Of The Day: America's Geriatric Work F(a)rce."  In it we demonstrated the very much "under the radar" schism of America's workforce since the NBER-defined official end of the recession in June 2009 into the "haves", or those above 55, who have been able to get a job since the end of the recession, and the "have nots", or all those in the labor force who have not been able to find a job. So how does this data look when extended to the beginning of Obama's term, or the 46 full months starting with his inauguration in January 2009, and continuing through the latest, October 2012 data point. The chart is presented below; you decide.

China 'Addicted To Credit'

Whilst the economic data shows at least some signs of an anaemic turnaround, China’s corporate results are demonstrating just how difficult things have been. During a slowdown, it is common for payments to be delayed as everyone hangs on to cash. Some companies, though, can be tempted to avoid curtailing production by offering reluctant customers much easier credit to encourage sales, the hope being that the slump will soon end and “natural” demand will pick up again. The trouble of course is that if the slowdown is prolonged, or the recovery weaker than expected, these accounts receivable (A/R) might turn “un-receivable”, and thus have to be written down as losses.  An increase in A/R is expected, but such a large increase suggests that some companies have been staying in operations through this vendor financing. In the struggling coal sector, at the end of June, accounts receivable had jumped 52.8 % for the 90 biggest coal firms. The need for a stronger turnaround is becoming more and more urgent!

Bundesbank Continues Golden Damage Control: Invokes Ghosts Of Simon Gruber And Goldfinger

It appears that the Bundesbank has never heard of the saying: when in a hole, stop digging (neither has any Keynesian in the history of humanity, but that's a different story). From Buba to Goldman's (and now new York Fed's) Bill Dudley: "you can be assured that we are confident that our gold is in safe hands with you. The days in which Hollywood Germans such as Gerd Fröbe, better known as Goldfinger, and East German terrorist Simon Gruber, masterminded gold heists in US vaults are long gone. Nobody can seriously imagine scenarios like these, which are reminiscent of a James Bond movie with Goldfinger playing the role of a US Fed accounting clerk.... While gold is important, we have to combat a crisis of confidence in the euro area. This is the task we need to concentrate on. And we will do so."

Why Self-Sufficiency Matters (Or Why Europe's Growth Outlook Is Not Good!)

Self-sufficiency matters. Bridgewater's Ray Dalio sees this logical concept as consistently an important ingredient for individuals, and even more so for societies as a whole, to become successful. As he notes in a recent missive, "self-sufficiency encourages productivity by tying the ability to spend to the need to produce," adding that is likely not controversial to state that people spend money they earn differently than money they are given (i.e. the connection between working hard and spending is a healthy one). By quantifying 'self-sufficiency' as one of the parts of 'the formula for economic success', Dalio shows that "Societies in which individuals are more responsible for themselves grow more than those in which they are less responsible for themselves." The nine-factor gauge of self-sufficiency provides some interesting insights into those nations most likely to experience above-average growth going-forward and those that are not; as European countries, notably Italy, France, Spain, and Belgium, all ranking at the very bottom on self-sufficiency. Perhaps, in order to encourage growth, these nations must enable their citizens' self-sufficient animal spirits by removing their pacifying nanny-state support?

Three Days Ahead Of Election, Candidates Tied Reuters Finds; Bill Maher Jokes

With only three days to the big unveiling, the candidates are essentially tied for the Presidential election. The Reuters/Ipsos daily tracking poll released this morning has (of likely voters) 47% backing Obama and 46% backing Romney. The two statistics fall within the realm of statistical noise implying there is no difference and that is why so much time is now being spent in the battleground states; especially since the same poll has Obama leading on electoral college votes and such a huge swathe of 'undecideds' who remain very balanced. The closeness of the race does raise the concern about Bush-Gore-like hanging-chad discord and as we have discussed in the past (the 70-percent, the 3.5 class society, and the Political Black Swan). The chances of social unrest at a close decision are non-negligible in the current environment and should not be dismissed; though we are not sure that Bill Maher's 'comedic' sentiment is really helping: "If you're thinking about voting for Mitt Romney, I would like to make this one plea: black people know who you are and they will come after you."

Crisis at NJ nuclear plant barely avoided in wake of Hurricane Sandy’s destruction

by Ethan A. Huff, Natural News:
The Associated Press (AP) is reporting that the U.S. Nuclear Regulatory Commission (NRC)’s official alert for the Oyster Creek nuclear power facility in Forked River, New Jersey, has been lifted. The narrowly-averted crisis was first triggered as an “unusual event” on Monday as flood waters from Hurricane Sandy rose to 4.7 feet around the plant, but was later upgraded to an actual “event,” which is the second point on the NRC’s four-point scale, after waters reached 7.4 feet just after midnight.
As was widely reported after the storm first made landfall, Oyster Creek’s reactor had already been offline for fueling and maintenance, a fact that was apparently intended to quell public fears that the reactor might be severely compromised. But individuals with knowledge about how nuclear power plants work were still gravely concerned, as such reactors still need electricity in order to power the cooling pools responsible for preventing fuel rods from overheating and causing a meltdown, which is was occurred during the Fukushima crisis.
Read More @

New Turn in the Euro Zone Financial Crisis

by Nick Beams, Global Research:

The eurozone financial crisis is set to deepen following this week’s release of debt projections for the Greek economy. Budget estimates show that instead of peaking at 167 percent of gross domestic product, as predicted last March when the so-called bailout package was put in place, the debt ratio will hit 189 percent this year, rising to 192 percent in 2014—well above the worst case scenarios of just eight months ago.
With the Greek government expected to effectively run out of money by November 16, the eurozone crisis is certain to be a major issue at the G-20 finance ministers’ meeting beginning in Mexico City on Sunday. The German government’s refusal to make available any more money means that threat of a Greek default and a full-blown financial breakdown is back on the agenda.
Read More @

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The Dilemma of False Terrorism

by Anthony Wile, The Daily Bell:
A New York Times article has attracted attention in alternative media circles for its portrait of Bernard von NotHaus, the “Rosa Parks of the constitutional currency movement.”
Entitled, “Prison May Be the Next Stop on a Gold Currency Journey,” the article describes von NotHaus and his current predicament.
Mr. von NotHaus was convicted of using precious metals to back a currency he called the Liberty Dollar, which he says was “a private voluntary currency” for those conducting business outside the government’s purview.
His name is Bernard von NotHaus, and he is a professed “monetary architect” and a maker of custom coins found guilty last spring of counterfeiting charges for minting and distributing a form of private money called the Liberty Dollar.
… Mr. von NotHaus managed over the last decade to get more than 60 million real dollars’ worth of his precious metal-backed currency into circulation across the country — so much, and with such deep penetration, that the prosecutor overseeing his case accused him of “domestic terrorism” for using them to undermine the government.
Read More @

This is an ABSOLUTE MUST READ...before casting your Vote, for your favorite Douche bag or Turd candidate...

In The News Today

My Dear Friends,

The thesis of MSM is that "Nothing must ever disturb the social order." Mother Nature can do this in seconds, and an overnight collapse of confidence in the dollar will do it in three days.
Currency induced cost push inflation is what will collapse confidence overnight and cause an explosion in the velocity of money in three days. Study history. It has happened before and will happen again. Although you will not want to hear this, it is true.
Ben Bernanke is the only person in the US financial management that thoroughly understands the mess that has been made, that which I have taught you. His action with QE is the only tool to buy time. QE is the only way the can gets kicked down the road for 3 years, preventing for some time, a total collapse. To fire Bernanke will be the single greatest error made in US financial management ever. We are over the cliff and in a free fall. Anyone speaking austerity and the dollar is unknowingly speaking about the final Western world financial collapse, without any remedy, within 9 months. If they knew, they would keep their mouths shut.
What I know and Bernanke knows is that your vote next week in the USA is for immediate (9 months) collapse or for the test coming between 2015 and 2017. You have the right to select the time of the end. This choice of leadership is between the devil you know or the devil you do not know.
Having your business assets in East Africa is a calming feeling. Two major Brics taking Tanzania under their wing gives me comfort. The choice of next week’s election in the USA is gold at and above $3500 either immediately or in 6 to 9 months from now. The US dollar will trade at USDX .7200 and lower in the same timeframes resulting from your vote.
Choose wisely,

Queens residents arm themselves in the post-storm blackout from looters
Residents feel isolated and some use guns, baseball bats, booby traps — even a bow and arrow — to defend themselves.
By Clare Trapasso , Mark Morales AND Corky Siemaszko / NEW YORK DAILY NEWS
Friday, November 2, 2012, 8:44 PM

When night falls in the Rockaways, the hoods come out.
Ever since Sandy strafed the Queens peninsula and tore up the boardwalk, it’s become an often lawless place where cops are even scarcer than electrical power and food. Locals say they are arming themselves with guns, baseball bats, booby traps — even a bow and arrow — to defend against looters.
Thugs have been masquerading as Long Island Power Authority (LIPA) workers, knocking on doors in the dead of night. But locals say the real workers have been nowhere in sight, causing at least one elected official — who fears a descent into anarchy if help doesn’t arrive soon — to call for the city to investigate the utility.
Further exacerbating desperate conditions, it could take at least a month to repair the the bridge that connects the Rockaways to the city subway system, officials said.
“We booby-trapped our door and keep a baseball bat beside our bed,” said Danielle Harris, 34, rummaging through donated supplies as children rode scooters along half-block chunk of the boardwalk that had marooned into the middle of Beach 91st St.
“We heard gunshots for three nights in a row,” said Harris, who believed they came from the nearby housing projects.
Carly Ruggieri, 27, who lives in water-damaged house on the block, said she barricades her door with a bed frame. “There have been people in power department uniforms knocking on doors and asking if they’re okay, but at midnight.”
And another local surfer said he has knives, a machete and a bow and arrow on the ready. Gunshots and slow-rolling cars have become a common  fixture of the night since Hurricane Sandy.

Jim Sinclair’s Commentary

Only if the QE now in Euroland continues. It is the only tool to buy some time – about 3 years.

Merkel: debt crisis will last five more years Saturday, November 03, 2012 – 02:54 PM
German Chancellor Angela Merkel says Europe’s sovereign debt crisis will last at least five more years.
Mrs Merkel says the continent is on the right path to overcome the crisis but “whoever thinks this can be fixed in one or two years is wrong”.
Two years ago some heavily indebted European countries were dragged into the turmoil that first gripped global financial markets in 2007.
Greece in particular has been struggling with the austerity conditions imposed on it by countries such as Germany.
But Merkel told a regional meeting of her Christian Democratic Party today that the time had come for “a bit of strictness.”
Otherwise, she says, Europe won’t be able to attract international investment.

Jim Sinclair’s Commentary

An area which should be of our interest. Funny, not a word about this on Financial TV.

America’s Nuclear Safety Under Scrutiny after Oyster Creek’s Sandy Alert
US nuclear regulators model risk from seismic activity or flooding based on past history. That’s leaving way too much to luck
by Richard Schiffman
Published on Friday, November 2, 2012 by The Guardian/UK

We know the bad news about superstorm Sandy: the Jersey shore was devastated and many towns remain waterlogged. New York suffered a direct hit, with the city’s mass transit system flooded and part-paralyzed for days to come.
Oyster Creek nuclear power station was offline on Monday for maintenance, but officials said Sandy’s storm surge came within 6in of damaging its cooling system. (Photograph: PR)
But there is good news, too, and that is all that it failed to do. Sandy did not kill hundreds – as Hurricane Katrina did in New Orleans in 2005 – thanks, in part, to timely evacuations and rescue efforts. And luckily, it did not trigger an even greater disaster at one of the region’s nuclear power plants. But it could have.
Watchdog groups like the Union of Concerned Scientists (UCS) warn that America’s nuclear facilities remain vulnerable to a variety of potential catastrophic events, both natural and resulting from deliberate sabotage or cyber-attack. And they say that federal regulations are currently inadequate to deal with all of these possible disaster scenarios.
I reported on one such danger, solar flares, last May in the New York Daily News. A 2011 study by the Oak Ridge National Laboratory warns that a massive solar storm could knock out electricity in some areas for weeks, overwhelming the capacity of many nuclear plants to keep their critical cooling systems operational.


Jim’s Mailbox

Hi Jim,

Thanks for all the help you give the gold community. Bought my first May 2001(pure luck).
The below link has some chatter about EU banning gold sales and using gold to back euro bonds. What do you think?
No need to read the link I’m just providing it for reference but the blog writer is a gold supporter. I think if it did happen I would hold mine until all these criminals we call the government are thrown out of office. I do think the EU bureaucrats are more dangerous than the USA version. An EU ban would mirror the ban in the USA in the 1930′s but reverse the countries affected (the rule of alternation?).
CIGA Michael

By banning gold you have tanked any idea of a gold bond. If gold is banned, a bond guaranteed by gold could not function. Therefore the writer you refer to supports a contradiction, a totally ass backwards scenario.

Dear Jim,
CIGA Robert wondered if there has been a "silent coup". General Wesley Clark thinks so and he names names.
CIGA Colin.

Gold Market Overview From An HFT Perspective


Here is an overview of market action for gold longs from a HFT perspective. If you plan to trade on my information, then the trade is: Buy physical gold. Any HFT worth their salt (or silicon) already knows what I have written here.
TAKE HEART GOLD LONGS, THE PAIN IS ALMOST OVER. The next leg of our journey takes us to $1800 and over, probably in time for Christmas. The best advice I ever received in gold is: “Your emotions are always wrong.” This was from a highly skilled trader named Jim Sinclair. Thank you, Jim.
Here is what is going on:
Market releases are important, and NFP is the most important.
NFP (non-farm payrolls) is the most volatile of all data releases. Every HFT (algo and human) trade it. The high risk trade is to short bonds or long S&P prior to the release. The HFT method is to close your position pre-release and have your finger on the mouse ready to pounce. Failing that, the human method is to fade the spike and profit from mean reversion.
On a ladder, you can see 1 min before a data release that orders are pulled and volume is barren. As the data is released, algos get it first. They slam orders into the market. A second (or less) later, humans add to these orders at market and the algos sweep their profits. This drives the price as stops are crossed and slow traders enter.
For this NFP release, everyone knew the data release would be the same as October. It’s an election year. The number may be revised in a week or 2, but that won’t matter after the election.
Knowing in markets is a powerful thing. Most trading is guessing and hoping, so knowing is a comfort rarely experienced.
When the release happens, the gold market got slammed. The previous day, traders were pulling their longs from $1725, causing the price to drop. For the release, the shorts know that longs have stops under $1700. This is a human “line in the sand”. So the goal is to cross $1700. You can see the stops trigger to $1696. From there, longs feel the pain and close positions, allowing the shorts to hit the price again into the next level $1678. These were the levels in my last email, and nothing has changed. The short goal is $1650, but won’t get a chance to push $1650 and here is why:
China demand. The Chinese government has encouraged it citizens to buy gold. This is a saving culture with little faith in governments and currency. These avid savers have already bought large amounts of gold and will be buying more under the assumption that “If the price was good at $1750, then it’s great at $1700!” This is how value buying works.
Come Monday, Asian value buyers will be into the market. Some may want to try to get $1650 prices or wait until Tuesday to get a better price, but will quickly snap up gold as they see the price start to go up. These physical buyers will be buying on as the price starts to press $1700 for fear of missing this BREIF pullback in price.
CIGAs should also be value buying at these levels.
On Monday, shorts will try to breach $1678. They may get it to fall (briefly) but that level won’t hold. Spec shorts will be closing positions and adding longs at these prices. Spec shorts don’t want to get caught behind the wave of big money value buyers. High volume VALUE traders will be back into the market on Wednesday, after the election smoke clears. These traders will be snapping up every pullback of gold, knowing they can reap a big profit before the end of the year. This starts the gold run to $1800 (short term, ie Christmas) and $2000 close behind. $2000 is a low estimate with a looming fiscal cliff and rabid money printing.
It is an election week. All eyes (news coverage) will be on the election, with real news hidden in the folds. No matter who wins, nothing will change.
If Obama wins, Bernanke will continue QE as normal, secure in his job. If Romney wins, Bernanke will increase QE in an attempt to keep his job. Either way, the printing press rolls on devaluing in the dollar and increasing the book price of hard assets. Markets know this. Knowing something in a market is a strong motivator.
There is NO scenario short of an election coup d’état of congress that can stop the presses.
If you are NOT buying gold at these prices, you have NO insurance for what is to come.
If you are long physical gold, turn off the tape and come back to it on Thursday when this paper BS is over.
Jim, thank you for all of your wisdom and advice.
CIGA Henry (HFT)

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