Marc Faber: Relax, This Will Hurt A Lot
PLEASE JOIN THOUSANDS OF PATRIOTIC CITIZENS FROM ACROSS THE WORLD, IN SENDING BANKERS A CLEAR MESSAGE ON AUGUST 12th...
On August 12th 2010, citizens across the world will be withdrawing $ 500.00 each from their local ATM's...
This action will cause no problems with the financial institutions, but will send a clear message to the Banks...
PLEASE HELP, This is one simple way to have your voice heard, where it will do the most good...
The Coming Rise in Prices
Al thinks you're crazy if you don't Consider Buying Gold - Roger Wiegand Agrees and Tells Listeners Why
The U.S. Mint's lame excuse for rationing gold and silver coins
FOFOA: Lease rates falsified to hide gold backwardation
Major German business magazine publicizes gold price suppression scheme
The Scariest Unemployment Graph I've Seen Yet
Any deflation will be temporary...Helicopter Ben Bernanke has a printing press and he will print money to infinity...Believe it...Inflation is the ONLY thing the Fed knows how to do...
U.S. may face deflation, a problem Japan understands too well
Uncle Sam has worse woes than Greece
U.S. Rescue May Reach $23.7 Trillion, Barofsky Says
Geithner: Let Tax Cuts Die. (Can you detect the desperate need for revenue?)
Desperate cities try giving away land, to get any taxes later. Here is a quote: "Around the nation, cities and towns facing grim budget circumstances are grasping at unlikely — some would say desperate — means to bolster their shrunken tax bases. Like Beatrice, places like Dayton, Ohio, and Grafton, Ill., are giving away land for nominal fees or for nothing in the hope that it will boost the tax rolls and cut the lawn-mowing bills."
View is Bleaker than Official Portrayal of War in Afghanistan
Posted: Jul 27 2010 By: Jim Sinclair Post Edited: July 27, 2010 at 6:27 pm
Filed under: General Editorial
Filed under: General Editorial
My Dear Friends,
I have said to you many times that the entities that will make the most profit on the gold price will not be the gold community, but rather just those that the community identifies as the enemy, the gold banks.
What is happening now is the setup to that event.
Recently Armstrong questioned publicly if the Goldmans of the world were using his cyclical analysis. Judging from what we have seen the answer is yes by intention or coincidence.
Those wishing to offset their pain on me today have to be defined as the public. The only bulls today are the stone professionals who can see what is taking place in the published numbers.
The gold banks are engineering their short cover and will shift to the long side of gold. It is in fact happening right now as the public panics. The currency market and media will be called into service in order to take gold to and through $1650.
Respectfully,
Jim
I have said to you many times that the entities that will make the most profit on the gold price will not be the gold community, but rather just those that the community identifies as the enemy, the gold banks.
What is happening now is the setup to that event.
Recently Armstrong questioned publicly if the Goldmans of the world were using his cyclical analysis. Judging from what we have seen the answer is yes by intention or coincidence.
Those wishing to offset their pain on me today have to be defined as the public. The only bulls today are the stone professionals who can see what is taking place in the published numbers.
The gold banks are engineering their short cover and will shift to the long side of gold. It is in fact happening right now as the public panics. The currency market and media will be called into service in order to take gold to and through $1650.
Respectfully,
Jim
Posted: Jul 27 2010 By: Jim Sinclair Post Edited: July 27, 2010 at 5:19 pm
Filed under: In The News
Filed under: In The News
Jim Sinclair’s Commentary
When you shrink wrap piles of money and air ship them to Afghanistan what the hell do you expect?
Big business is the result for all the connector airlines.
SIGIR: Defense can’t account for $8.7 billion
July 27, 2010 – 4:59am
Rachel Stevens
The Defense Department is unable to account for $8.7 billion of the $9.1 billion in Development Fund for Iraq monies in received for reconstruction in Iraq. This according to a study published today by the Special Inspector General for Iraq Reconstruction.
"This situation occurred because most DoD organizations receiving DFI (Development Fund for Iraq) funds did not establish the required Department of the Treasury accounts and no DoD organization was designated as the executive agent for managing the use of DFI funds," the report states.
The Special Inspector General for Iraq Reconstruction (SIGIR) finds that only one Defense organization actually set up the accounts required by the Treasury.
"The breakdown in controls left the funds vulnerable to inappropriate uses and undetected loss," SIGIR says.
The study recommends that the Secretary of Defense create new accounting and reporting procedures to avoid such mistakes in the future. It also recommends designating an executive agent to oversee progress, establishing measurable milestones, and determining whether any DoD organizations are still holding DFI funds.
More…
When you shrink wrap piles of money and air ship them to Afghanistan what the hell do you expect?
Big business is the result for all the connector airlines.
SIGIR: Defense can’t account for $8.7 billion
July 27, 2010 – 4:59am
Rachel Stevens
The Defense Department is unable to account for $8.7 billion of the $9.1 billion in Development Fund for Iraq monies in received for reconstruction in Iraq. This according to a study published today by the Special Inspector General for Iraq Reconstruction.
"This situation occurred because most DoD organizations receiving DFI (Development Fund for Iraq) funds did not establish the required Department of the Treasury accounts and no DoD organization was designated as the executive agent for managing the use of DFI funds," the report states.
The Special Inspector General for Iraq Reconstruction (SIGIR) finds that only one Defense organization actually set up the accounts required by the Treasury.
"The breakdown in controls left the funds vulnerable to inappropriate uses and undetected loss," SIGIR says.
The study recommends that the Secretary of Defense create new accounting and reporting procedures to avoid such mistakes in the future. It also recommends designating an executive agent to oversee progress, establishing measurable milestones, and determining whether any DoD organizations are still holding DFI funds.
More…
Posted: Jul 27 2010 By: Jim Sinclair Post Edited: July 27, 2010 at 5:14 pm
Filed under: Jim's Mailbox
Filed under: Jim's Mailbox
Jim,
I understand the logic in today’s article of how much overvalued a bank’s assets may be.
Though, I do get lost in the article when the writer says that the FDIC entered in an additional and other loss share arrangements for 1.5 billion.
Where did those assets come from? It doesn’t seem that they were part of the stated assets of the failed banks.
I would appreciate you helping me gain better insight to this issue.
CIGA Don
Dear Don,
The assets are failed bank assets, primarily OTC derivatives.
The guarantee is made by the FDIC who does not have that money to make such a guarantee.
Those that are guaranteed are the Fat Cats buying all these failed banks now with no or infinitesimal risk.
Regards,
Jim
While the gold market will be “pressed” as long as possible, it will change direction when time is up
CIGA Eric
Housing prices are rising according to economic reports this morning. The source of this economic miracle was not identified, but has to be primarily in the minds of those so reporting. The Euro traded over $1.30 before running into selling. Consensus see this as solved problems in the EU, not a hint of greater problems in the US. FASB capitulation and creative accounting impacting banks earnings are the subject of Eric’s contribution below. Calls I am getting this morning are total capitulation calls. Emails are worse. Gold will trade at $1650 and beyond.
Those that buy strength and sell weakness will lose in gold.
The three steps of paper operations
(1) Setup sentiment with bearish stories on F-TV before and during the operation.
(2) Since the shorts are few in number, well-organized and coordinated, it’s easy to press the market through short-term technical triggers.
(3) Once the technical trigger is generated, the numerous and high uncoordinated computers do all the work.
As I wrote on Sunday, "while the gold market will be “pressed” as long as possible, it will change direction when time is up." Those controlling the operation understand the limitation of time. Retail money does not, so watch them closely (see chart below). They will be setup on the wrong side at the wrong time for the benefit of connected money. Who are they? They are the ones with the smirk on their face during the decline.
Gold London P.M Fixed and the Nonreportable Traders COT Futures and Options Stochastic Weighted Average of Net Long As A % of Open Interest:
This game will be repeated again and again in the future because the sheeple are determined to remain asleep until moments before the slaughter.
More…
I understand the logic in today’s article of how much overvalued a bank’s assets may be.
Though, I do get lost in the article when the writer says that the FDIC entered in an additional and other loss share arrangements for 1.5 billion.
Where did those assets come from? It doesn’t seem that they were part of the stated assets of the failed banks.
I would appreciate you helping me gain better insight to this issue.
CIGA Don
Dear Don,
The assets are failed bank assets, primarily OTC derivatives.
The guarantee is made by the FDIC who does not have that money to make such a guarantee.
Those that are guaranteed are the Fat Cats buying all these failed banks now with no or infinitesimal risk.
Regards,
Jim
While the gold market will be “pressed” as long as possible, it will change direction when time is up
CIGA Eric
Housing prices are rising according to economic reports this morning. The source of this economic miracle was not identified, but has to be primarily in the minds of those so reporting. The Euro traded over $1.30 before running into selling. Consensus see this as solved problems in the EU, not a hint of greater problems in the US. FASB capitulation and creative accounting impacting banks earnings are the subject of Eric’s contribution below. Calls I am getting this morning are total capitulation calls. Emails are worse. Gold will trade at $1650 and beyond.
Those that buy strength and sell weakness will lose in gold.
The three steps of paper operations
(1) Setup sentiment with bearish stories on F-TV before and during the operation.
(2) Since the shorts are few in number, well-organized and coordinated, it’s easy to press the market through short-term technical triggers.
(3) Once the technical trigger is generated, the numerous and high uncoordinated computers do all the work.
As I wrote on Sunday, "while the gold market will be “pressed” as long as possible, it will change direction when time is up." Those controlling the operation understand the limitation of time. Retail money does not, so watch them closely (see chart below). They will be setup on the wrong side at the wrong time for the benefit of connected money. Who are they? They are the ones with the smirk on their face during the decline.
Gold London P.M Fixed and the Nonreportable Traders COT Futures and Options Stochastic Weighted Average of Net Long As A % of Open Interest:
This game will be repeated again and again in the future because the sheeple are determined to remain asleep until moments before the slaughter.
More…
Posted: Jul 27 2010 By: Dan Norcini Post Edited: July 27, 2010 at 2:32 pm
Filed under: Trader Dan Norcini
Posted: Jul 27 2010 By: Jim Sinclair Post Edited: July 27, 2010 at 12:11 pm Filed under: Trader Dan Norcini
Dear CIGAs,
Click chart to enlarge today’s hourly action in Gold in PDF format with commentary from Trader Dan Norcini
Click chart to enlarge today’s hourly action in Gold in PDF format with commentary from Trader Dan Norcini
Filed under: General Editorial
Dear Friends,
Housing prices are rising according to economic reports this morning. The source of this economic miracle was not identified, but has to be primarily in the minds of those so reporting it.
The Euro traded over $1.30 before running into selling. The consensus this morning sees this as solved problems in the EU, not a hint of greater problems in the US.
FASB capitulation and creative accounting impacting bank earnings are the subject of Eric’s contribution below.
Calls I am getting this morning are total capitulation calls. Emails are worse.
Gold will trade at $1650 and beyond.
The timing remains the same. Gold will trade at $1650 on or before January 14th 2011. Martin Armstrong is eyeing a higher number, but later in June of 2011.
Respectfully,
Jim
CIT Q2 profit beats Street view
CIGA Eric
Business must be great! That is, the business of creative, fictional accounting.
CIT Group (NYSE:CIT – News), the commercial lender that last year emerged from bankruptcy, on Tuesday reported a quarterly profit that dwarfed analysts’ estimates.
CIT said gains from asset sales and recoveries from written-off loans boosted its second-quarter profit, offsetting costs it reported related to an employee retention program and higher credit costs.
Source: finance.yahoo.com
More…
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