Greyerz – $100 Trillion+ to be Printed, Expect Capital Controls

from KingWorldNews:
Today Egon von Greyerz told King World News, “The tens of trillions of dollars that needs to be printed is without derivatives. With derivatives we are talking about hundred of trillions of dollars that may need to be printed.” Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. Von Greyerz also said, “We will have exchange controls in virtually every country. I can see this coming to the US in the next year or two.” But first, here is what Greyerz had to say about what is happening in Europe: “The bail out for Spain’s Bankia is now up to $25 billion in refinancing requirements, but that’s just the beginning. We’re looking at country after country here where the dominos are falling. The refinancing requirements worldwide are getting astronomical, and they will escalate at a faster rate.”
Egon von Greyerz continues @ KingWorldNews.com

Newmont CEO – China Doing Everything It Can to Get Gold

from KingWorldNews:
Today the CEO of Newmont Mining, one of the largest gold producing companies in the world, told King World News that China is doing, “everything they can to assemble a bigger gold portfolio.” Richard O’Brien, the CEO of $24 billion Newmont Mining, also said, “I believe inflation is going to rear its ugly head.” But first, when asked about China’s insatiable appetite for gold, O’Brien responded, “Obviously China is now both the world’s largest producer of gold, as well as the largest consumer of gold. Not one ounce shows up as legally leaving China. I think that’s a strong statement that the Chinese people and the Chinese government are looking to hold on to and expand their holdings of gold over time.”
Richard O’Brien continues @ KingWorldNews.com

In The News Today

May 29, 2012, at 2:33 pm
by Jim Sinclair 

Jim Sinclair’s Commentary

QE to infinity as there is no appetite in Washington to endure what starving people to death means to an economy.

Many unemployed facing early end to benefits By Paul Davidson, USA TODAY
Updated 32m ago
More than 100,000 Americans out of work longer than a year in six states and Washington, D.C., are expected to lose their unemployment checks this summer, pushing the total cut off this year to more than 500,000.
Economists say the cutbacks will lower the unemployment rate but hurt consumer spending.
Affected are extended benefits, paid by the federal government, which provide an additional 13 to 20 weeks of payments to those already out of work 60 to 79 weeks. Congress mandated the reductions this year and they join other cuts in place or coming.
Some states have trimmed even initial benefits to less than 26 weeks, and some have limited eligibility. Florida residents must apply online and take a lengthy skills test.
Starting next month, many states will reduce the second phase of benefits, which aids people unemployed for 26 to 79 weeks. That is expected to affect several hundred thousand by year’s end.
The portion of the jobless receiving payments recently fell below 50%.
Many states are ending extended benefits, as required by federal law, because their unemployment rates are no longer rising.
More…




Jim Sinclair’s Commentary

There is no appetite in Washington for the broad implications inherent in this number. QE to infinity both in Euroland and the USA is certain as death and taxes.

Homes Prices Drop 2% to Post-Crisis Lows: Case-Shiller Published: Tuesday, 29 May 2012 | 9:11 AM ET
Home prices fell in the first quarter to new post-crisis lows, but prices were up in March from February for the first time in seven months.
The increase is the latest evidence of a slow recovery taking shape in the troubled housing market.
The Standard & Poor’s/Case-Shiller home price index showed that prices increased in 12 of the 20 cities it tracks.
Still, the major indexes ended the first quarter at new post-crisis lows, the report said. For the first quarter, prices were down 2 percent, compared to a 3.9 percent decline in the last three months of 2011.
Prices increased in Tampa and Miami — two of the hardest hit markets.
Las Vegas — the nation’s worst market — so no change in prices. Prices dropped sharply in Detroit, Chicago and Atlanta.
The increases partly reflect the beginning of the spring selling season. The month-to-month prices aren’t adjusted for seasonal factors.
The overall index of 20 cities was essentially unchanged in March, after falling 0.8 percent in February.
More…





Jim Sinclair’s Commentary

In the "Land of the Free."

Revealed: Hundreds Of Words To Avoid Using Online If You Don’t Want The Government Spying On You
The Department of Homeland Security has been forced to release a list of keywords and phrases it uses to monitor social networking sites and online media for signs of terrorist or other threats against the U.S.
The intriguing the list includes obvious choices such as ‘attack’, ‘Al Qaeda’, ‘terrorism’ and ‘dirty bomb’ alongside dozens of seemingly innocent words like ‘pork’, ‘cloud’, ‘team’ and ‘Mexico’.
Released under a freedom of information request, the information sheds new light on how government analysts are instructed to patrol the internet searching for domestic and external threats.
The words are included in the department’s 2011 ‘Analyst’s Desktop Binder’ used by workers at their National Operations Center which instructs workers to identify ‘media reports that reflect adversely on DHS and response activities’.
Department chiefs were forced to release the manual following a House hearing over documents obtained through a Freedom of Information Act lawsuit which revealed how analysts monitor social networks and media organizations for comments that ‘reflect adversely’ on the government.
More…





Jim Sinclair’s Commentary

Gold is monetized by this event. About that there is no question.

Europe’s debtors must pawn their gold for Eurobond Redemption
Southern Europe’s debtor states must pledge their gold reserves and national treasure as collateral under a €2.3 trillion stabilisation plan gaining momentum in Germany. By Ambrose Evans-Pritchard, International business editor
5:22PM BST 29 May 2012


The German scheme — known as the European Redemption Pact — offers a form of "Eurobonds Lite" that can be squared with the German constitution and breaks the political logjam. It is a highly creative way out of the debt crisis, but is not a soft option for Italy, Spain, Portugal, and other states in trouble.
The plan is drafted by the German Council of Economic Experts and inspired by Alexander Hamilton’s Sinking Fund in the United States — created in 1790 to clean up the morass of debts left by the Revolutionary War. Flourishing Virginia was comparable to Germany today.
Chancellor Angela Merkel shot down the proposals last November as "completely impossible", but Europe’s crisis has since festered, and her Christian Democrat party has since suffered crushing defeats in regional elections.
The Social Democrat opposition supports the idea. The Greens say they will block ratification of the EU Fiscal Compact in the German Bundesrat — or upper house — unless Mrs Merkel relents.
More…





Jim Sinclair’s Commentary

Have you noticed that whatever they need they get and will continue to get?

Chief’s exit paves way for Bank of Spain rehabilitation
MADRID (Reuters) – Miguel Angel Fernandez Ordonez’s early exit as Bank of Spain governor signals Madrid’s desire to restore its credibility, days after the government was forced to stage the country’s biggest ever bank rescue.
Ordonez met Prime Minister Mariano Rajoy on Tuesday to say he was leaving on June 10, leaving Spain’s leader with just days to announce a new head for the once-feted central bank.
The Bank of Spain has seen its reputation demolished as the mounting pile of toxic assets at Spanish banks threatens to push the country into a bailout that would jeopardize the future of the euro common currency.
In the latest humiliation for the central bank, Spain’s government bowed last week to European pressure and hired outside auditors to examine the country’s banks, acknowledging a lack of trust in home-grown assessments from the Bank of Spain.
Politicians and cabinet ministers from the ruling centre-right People’s Party, or PP, have piled blame on Ordonez, who was due to step down on July 12 at the end of his six-year term.
More…





Jim Sinclair’s Commentary

The mirror rally in the dollar is based on nothing but a temporary reflection. Here is a big step in reducing the utilization internationally of the US dollar. Any central bank that does not sell this dollar rally is brain dead.

China and Japan to start direct yen-yuan trade in June
China will allow direct trading of the yuan and the Japanese yen, in a move aimed at promoting trade between Asia’s two biggest economies.
This means the two countries will not be using the US dollar as an intermediary.
This means the two countries will not be using the US dollar as an intermediary.
China, which sometimes has a tense relationship with Japan, is the country’s biggest trading partner.
China’s central bank said the China Foreign Exchange Trade system would launch this trade, starting next month.
"This is part of China’s broader strategy to reduce dependence on the dollar," said Dariusz Kowalczyk from Credit Agricole CIB in Hong Kong.
More…

 

Jim’s Mailbox

May 29, 2012, at 2:26 pm
by Jim Sinclair 

Dear Jim,
The following is from MineWeb.com today.

Banking capital adequacy ratios, once the domain of banking specialists, are set to become centre stage for the gold market as well as the wider economy. In response to the global banking crisis the rules are to be tightened in terms of the assets that banks must hold and this is potentially going to very much favour gold. The Basel Committee for Bank Supervision (or BCBS) as part of the BIS are arguably the highest authority in banking supervision and it is their role to define capital requirements through the forthcoming Basel III rules.
More…

In short, they are meeting to consider making gold a Tier 1 asset for commercial banks with 100% weighting rather than a Tier 3 asset with just a 50% risk weighting as it does today. At the same time they are set to increase the amount of capital banks must set aside as well. A double win potentially.  regards, CIGA Jim N.

Dear Jim,

Totally correct as gold moves further towards, not away, from the monetary system.

Jim

Hi Jim,

I know you don’t have a crystal ball, but in your mind how long do think gold and silver will head lower?
I appreciate any light you can shed on this.
Thanks in advance,
CIGA Ted



Ted,

If you are without margin, it is totally irrelevant. If you have margin, you are screwed.

Regards, 

Jim

*New Discovery* A Hidden Danger of the Fukushima Daiichi Spent Fuel Pool 4 : “If anything happens, this is not just about the end of Japan, probably start of the end of the world”

[Ed. Note: for translation, click the "You Tube" icon at the bottom of the video to go to You Tube, then press the "CC" button on the lower right side of the You Tube player window.]
from Goldieluvmj:
At 23:00: Shin-ichi Sano, Author:
…The world had not choice but to pay attention.
Q: People have said that we must gather expertises from around the world in order to solve the current problem. Regarding Fukushima, this has to happen, don’t you think?
A: Indeed. As you say, there is no time for silly arguments. If anything happens, this is not just about the end of Japan, probably start of the end of the world. I would like them to realize that we are in such crisis situation.

GOLD, the Overcrowded Trade: Selling a 1 Oz Gold Coin for $25 (when it’s worth over $1,500)

from MarkDice:

Mark Dice tries to sell a 1 ounce solid gold coin for $25 outside of a coin shop in San Diego, CA. HINT- It’s worth WAY more than $25, but does anyone want it?

The Disease is our Monetary System

By Rudy Avizius, The Market Oracle:
If the American people ever allow private banks to control the issue of currency, first by inflation [bubbles], then by deflation [recession or depression], the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.” Thomas Jefferson
Picture yourself in this situation:
You are experiencing severe abdominal pains so you visit with your doctor. Your doctor does a perfunctory examination and announces that he will write you a prescription for a pain killer. Of course you quickly recognize that the doctor is treating the symptom of your problem, but not the problem itself. So you visit a specialist who happened to fall asleep during the abdominal portion of his medical preparation. His uninformed diagnosis of your problem is acid indigestion and you are prescribed antacids. Unfortunately his misdiagnosis causes your pains to continue. With the underlying disease untreated, you ultimately end up in a hospital where you are diagnosed with abdominal cancer.
Read More @ TheMarketOracle.co.uk

DoD Unmanned Aircraft System (UAS) Airspace Integration Plan

from Public Intelligence:
Over the past several years, Unmanned Aircraft Systems (UAS) have become a transformational force multiplier for the Department of Defense (DoD). When UAS were introduced into the front-line DoD aircraft force structure over a decade ago, small numbers of aircraft were fulfilling niche capabilities. This is no longer the case. The numbers and roles of UAS have expanded dramatically to meet overseas demands, and in some categories, more unmanned aircraft (UA) are budgeted than manned. Operational commanders have come to rely upon robust and persistent support based on unmanned platforms to execute their core missions against hostile forces.
Read More @ PublicIntelligence.net

A Gun to Literally Silence Speech

by Sean Kerrigan, SeanKerrigan.com:
A report recently published by two Japanese scientists describes the effects of a new invention they call a “speech jammer.” When directed at a person speaking, it confuses the subjects brain, quickly causing him or her to fall silent. In essence, the device literally silences speech. 
According to the report, the “gun-shaped” device (what you could easily call a weapon) uses a microphone to record the speaker’s voice.  It then replays the speaker’s voice back to them at a slightly offset time interval depending on the distance.  The effect is called Delayed Auditory Feedback and is similar to hearing your own voice with a delay. It can be disorienting and frustrating for the speaker. The result is to “disturb remote people’s speech without any physical discomfort” and forcing them to stop speaking.
Read More @ SeanKerrigan.com

New Big Brother Cyber Weapon Can Turn on Your Computer’s Microphone, Take Screen Shots, Copy Data, Record Communications

by Mac Slavo, SHTFPlan:
To the disbelief of many of our readers, in a 2011 report titled Everything You Do Is Monitored, we noted that microphones and cameras on cell phones and computers allow interested parties (translated to mean your respective government) to hear and see everything going on in the direct vicinity of the device without the knowledge of its owner.
That these monitoring features are available on cell phones was a known fact, as FBI surveillance networks already have the ability to turn on any cell phone microphone or camera remotely without tipping off the user. It’s believed that this surveillance technique can work even when the cell phone user has shut down their phone, with the only surefire way to prevent such surveillance being removal of the unit’s battery.
Computers, however, were believed to be secure from these kinds of backdoors, and the majority of computer users believe their PC’s are protected from such intrusive technologies once they install virus and malware protection software.
Read More @ SHTFPlan.com

Greek ‘Aid’ Is Really Enhanced Vendor Financing and Foreign Bank Bailouts

from Jesse’s Café Américain:
“They don’t want to kill us [the Greek people] but keep us down on our knees so we can keep paying them indefinitely.”
Eva Kyriadou
The similarity to the Icelandic situation is striking.  Greece must deal with the problem of decoupling from the Euro, but other than that the scenario seems fairly straightforward to me.
Greece needs to assert their independence, and have the will to make it ‘stick.’
Instead of ‘mailing in their keys’ on an underwater home, the Greek people should consider mailing their eurozone membership back to the ECB and their Banks c/o Berlin, and suggest that the conquest of their country might have to proceed by more conventional and overt means.
Read More @ Jesse’s Café Américain:

Drachma’s Ugly Past Doesn’t Bode Well for Greece’s Future

by David Kotok, Financial Sense:
The drachma, the Greek currency name, is over 3000 years old. It was the most widely circulated coin in the world prior to the time of Alexander the Great. Readers may enjoy a few minutes of study about Alexander the Great. His was the Macedonian conquest of Greece and the rest of the ancient world. His education came from Aristotle who was his tutor. He changed the political geography of the Balkans and the Mediterranean. See a few notes at the very end of this commentary.

Back to the drachma.

Since reintroduction in 1832, all modern Grecian drachma forms have ended badly. The single exception WAS the exchange of the drachma for the euro in 2001. That chapter of Greek history is being re-written now.
Read More @ Financial Sense.com

Barack O’Romney

from Liberty Blitzkrieg
Great article here from Glenn Greenwald of Salon.com, one of the guys that has been leading the charge on the “left” to call out Obama and the two party system for the sham it is.  Please pass this along to any brain dead Obama sheep that you may know…
Key quotes:
Miller devotes himself to debunking one of the worst myths in Washington, propagated out of self-interest by conservatives and progressives alike: namely, that there is a vast and radical difference between the parties on most key issues and that bipartisanship is so tragically scarce. In the foreign policy context which is his expertise, Miller explains that — despite campaign rhetoric designed to exaggerate (or even invent) differences in order to motivate base voters — the reality is exactly the opposite:

Read More @ LibertyBlitzkrieg.com

Enter the Swan

from Azizonomics:
Charles Hugh Smith (along with many, many, many others) thinks there may be a great decoupling as the world sinks deeper into the mire, and that the dollar could be set to benefit:
This “safe haven” status can be discerned in the strengthening U.S. dollar. Despite a central bank (The Federal Reserve) with an avowed goal of weakening the nation’s currency (the U.S. dollar), the USD has been in an long-term uptrend for a year–a trend I have noted many times here, starting in April 2011.
That means a bet in the U.S. bond or stock market is a double bet, as these markets are denominated in U.S. dollars. Even if they go nowhere, the capital invested in them will gain purchasing power as the dollar strengthens.
Read More @ Azizonomics.com

17-Year-Old Girl Included On Obama’s Secret ‘Kill List’

Americans target of state-sponsored assassination program
by Paul Joseph Watson, Prison Planet:
President Barack Obama’s unconstitutional secret ‘kill list’ includes a 17-year-old girl along with several American citizens, according to a New York Times report.
“Mr. Obama has placed himself at the helm of a top secret “nominations” process to designate terrorists for kill or capture, of which the capture part has become largely theoretical. He had vowed to align the fight against Al Qaeda with American values; the chart, introducing people whose deaths he might soon be asked to order, underscored just what a moral and legal conundrum this could be,” reports the NY Times, adding that one of the targets in Yemen is “a girl who looked even younger than her 17 years,” and that “Several were Americans.”

The White House has asserted the right to carry out state-sponsored assassination anywhere in the world without having to provide any evidence or go through any legal process. The administration merely has to state that the target is a terrorist and it doesn’t matter whether they are an American citizen or not, as we saw in the case of American-born Anwar al-Awlaki and his son, who were both killed last year.

Read More @ PrisonPlanet.com




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