[Ed. Note: We posted the Spire Law Group PRESS RELEASE about this $43 Trillion Bankster Lawsuit on Friday via Market Watch, the Market Watch article is still live,
so CNBC is not the only media source that shared the Law Firm's Press
Release. On Friday we also placed a call directly to Spire Law Group
requesting an interview about this lawsuit - to date, our request has
not been granted.]
from The Intel Hub:
This week financial news organization CNBC gave some mainstream
attention to the largest money laundering and racketeering lawsuit in
United States History, in which “Banksters” and their U.S. racketeering
partners are being accused of laundering of 43 trillion dollars worth of
ill gotten gains.
The lawsuit is said to involve officials located in the highest offices of government and the financial sector. Since this information was surprisingly revealed by the mainstream news organization there has been a very suspicious and deadly fallout at the CNBC headquarters.
Within hours the original page for the article was taken down, and CNBC senior vice president Kevin Krim received news that his children were killed under very suspicious circumstances. It seems that the murder happened first and then the page was removed later. According to mainstream accounts the children’s nanny is responsible for the murders, allegedly stabbing both children.
However, those same mainstream news sources report the highly unlikely story that the nanny slit her own throat just after committing the homicides.
Read More @ The Intel Hub
from The Intel Hub:
This week financial news organization CNBC gave some mainstream
attention to the largest money laundering and racketeering lawsuit in
United States History, in which “Banksters” and their U.S. racketeering
partners are being accused of laundering of 43 trillion dollars worth of
ill gotten gains.The lawsuit is said to involve officials located in the highest offices of government and the financial sector. Since this information was surprisingly revealed by the mainstream news organization there has been a very suspicious and deadly fallout at the CNBC headquarters.
Within hours the original page for the article was taken down, and CNBC senior vice president Kevin Krim received news that his children were killed under very suspicious circumstances. It seems that the murder happened first and then the page was removed later. According to mainstream accounts the children’s nanny is responsible for the murders, allegedly stabbing both children.
However, those same mainstream news sources report the highly unlikely story that the nanny slit her own throat just after committing the homicides.
Read More @ The Intel Hub
Denver news reporter Kyle Clark grills Obama on Benghazi, & on his Romney ‘bullshitter’ remark
from The Daily Caller:
In an unusually direct and at times tense interview with Denver local
news station KUSA, President Barack Obama on Friday admitted on two
occasions that he doesn’t know whether the administration denied
requests for military assistance by the U.S. Embassy in Libya when it
was besieged on Sept. 11.
“Were the Americans under attack at the consulate in Benghazi Libya denied requests for help during that attack? And is it fair to tell Americans that what happened [in Libya] is under investigation and we’ll all find out after the election?” anchor Kyle Clark asked at the top of the interview.
“The election has nothing to do with four brave Americans getting killed and us wanting to find out exactly what happened,” Obama replied. “Nobody wants to find out more what happened than I do. But we want to make sure we get it right.”
Read More @ TheDailyCaller.com
Since the 2008 financial crisis the foundations of the global economy have been in repair, translating into a prolonged period of economic frailty. Against this backdrop, social
and political tensions have increased between citizens and government,
international institutions and governments, and individual nation states.
The European debt crisis remains the largest challenge facing the
global economy. A negative resolution emanating from the world’s largest
economic bloc would cause harmful ripple effects worldwide in global
trade flows. More importantly, it could also mark a paradigm shift in
international relations, dealing a critical blow to what has been a relentless trend towards liberalism since the end of World War II,
while providing fecund ground for a resurgence in realist ideology.
Interestingly though, constructivism may be at the forefront in
explaining the current dilemma between the European core and its
periphery. It would also be wise to ponder the idea of whether a supranational government could exist.
Proceeding down a path with a likely dead end would consume precious
resources and lead to widespread suffering among every day citizens.
“Were the Americans under attack at the consulate in Benghazi Libya denied requests for help during that attack? And is it fair to tell Americans that what happened [in Libya] is under investigation and we’ll all find out after the election?” anchor Kyle Clark asked at the top of the interview.
“The election has nothing to do with four brave Americans getting killed and us wanting to find out exactly what happened,” Obama replied. “Nobody wants to find out more what happened than I do. But we want to make sure we get it right.”
Read More @ TheDailyCaller.com
On Europe And The Future Of International Relations
Since the 2008 financial crisis the foundations of the global economy have been in repair, translating into a prolonged period of economic frailty. Against this backdrop, social
and political tensions have increased between citizens and government,
international institutions and governments, and individual nation states.
The European debt crisis remains the largest challenge facing the
global economy. A negative resolution emanating from the world’s largest
economic bloc would cause harmful ripple effects worldwide in global
trade flows. More importantly, it could also mark a paradigm shift in
international relations, dealing a critical blow to what has been a relentless trend towards liberalism since the end of World War II,
while providing fecund ground for a resurgence in realist ideology.
Interestingly though, constructivism may be at the forefront in
explaining the current dilemma between the European core and its
periphery. It would also be wise to ponder the idea of whether a supranational government could exist.
Proceeding down a path with a likely dead end would consume precious
resources and lead to widespread suffering among every day citizens.
from Silver Doctors:
First Venezuela, then Germany, and now the Netherlands want their gold back.
In the wake of this week’s ruling by the German Federal Accountability Office that Germany must repatriate and audit 150 tons of its gold reserves from the NY Fed over the next 3 years, a Netherlands citizens committee has filed a petition demanding the Central Bank release information ”on the quantity and storage location of the Netherlands’ physical gold, and on the extent and nature of the gold claims.”
In the words of one of the petitioners Tom Lassing: “The last years have seen a loss of trust in the financial system and we have been fooled a lot. So I say: Just let the central banks like DNB show the gold is really there.
Should the citizens committee be successful, we are confident they will discover the vast majority of the country’s gold reserves- 10th largest in the world at 612,000 kilograms, are held in the basement of the NY Fed.
As we stated several days ago, the jig is now up. The German accountability office will trigger an avalanche of gold audit, delivery, and repatriation requests around the Western world. We wish the Fed luck staying ahead of the cascading avalanche of requests to convert unallocated (rehypothecated) gold into solid physical metal. They’re going to need it.
Read More @ Silver Doctors
First Venezuela, then Germany, and now the Netherlands want their gold back.In the wake of this week’s ruling by the German Federal Accountability Office that Germany must repatriate and audit 150 tons of its gold reserves from the NY Fed over the next 3 years, a Netherlands citizens committee has filed a petition demanding the Central Bank release information ”on the quantity and storage location of the Netherlands’ physical gold, and on the extent and nature of the gold claims.”
In the words of one of the petitioners Tom Lassing: “The last years have seen a loss of trust in the financial system and we have been fooled a lot. So I say: Just let the central banks like DNB show the gold is really there.
Should the citizens committee be successful, we are confident they will discover the vast majority of the country’s gold reserves- 10th largest in the world at 612,000 kilograms, are held in the basement of the NY Fed.
As we stated several days ago, the jig is now up. The German accountability office will trigger an avalanche of gold audit, delivery, and repatriation requests around the Western world. We wish the Fed luck staying ahead of the cascading avalanche of requests to convert unallocated (rehypothecated) gold into solid physical metal. They’re going to need it.
Read More @ Silver Doctors
Charles Ferguson: Behind Every Great Con Artist Is a Man Like Glenn Hubbard
Meanwhile In Japan...
Two of the saving features that allowed Japan to internalize 30-some years of failed fiscal and monetary policy (and yes, not one, not two, but now 8 failed iterations of quantitative easing) and to offset one relentless deflationary vortex was i) its demographics coupled with an investing culture that favors deposits and bonds over equities, which incentivized its aging population to invest its savings into government bonds, and ii) its trade surplus which led to foreign capital flows to enter the country. Well, as far as i) is concerned, Japan may have reached its demographic limit, since as reported several months ago, Japan's pension funds are now not only selling JGBs to meet redemption and cash needs, but forced to do truly stupid things like investing in the riskiest of assets to generate a return at any cost. In other words, demographics will no longer be a natural source of demand for deficit funds. As for ii), well... here is what has happened with Japan's trade surplus status in recent weeks following the collapse in the country's foreign relationship with China.
from TruthNeverTold :
from laroucheyouth:
It is a dark future President Barack Obama has given to mankind with his illegal entering of Libya and the allowed execution of Muammar Gaddafi. An ominous reality that will remain, with the plague of partisan politics. Now, Russia, has offered its warning. Heed it. Or prepare yourselves for a 21st Century thermonuclear black death.
It is a dark future President Barack Obama has given to mankind with his illegal entering of Libya and the allowed execution of Muammar Gaddafi. An ominous reality that will remain, with the plague of partisan politics. Now, Russia, has offered its warning. Heed it. Or prepare yourselves for a 21st Century thermonuclear black death.
from The Daily Bell:
Afghanistan mosque suicide bomb attack kills at least 41 … A suicide bomber targeted worshippers who had gathered at a mosque in north Afghanistan for prayers to mark Eid al-Adha, killing at least 41 people. More than 50 people were wounded in the attack, which happened as people were leaving the Eid Gah mosque in Maymana, capital of Faryab province. Senior provincial government and police officials attended the prayers, but appeared to escape serious injury. The victims were mainly police officers and civilians. This attack in Maymana, the provincial capital of Faryab, exposes a number of serious concerns about the security situation there. There is a widespread perception that Faryab is a very peaceful province, but recent developments are telling. There have been a number of assassinations of tribal elders recently in Maymana. Nato forces have also conducted frequent night raids targeting the Taliban and the Islamic Movement of Uzbekistan militant group (IMU). – BBC
Dominant Social Theme: The war is being won.
Free-Market Analysis: The deaths in Afghanistan, after more than a decade of war, keep climbing. Our paradigm proves itself out daily.
The West is not in Afghanistan to help its women. The West is not in Afghanistan because of its mineral wealth. The West is not in Afghanistan to create peaceful democracy.
Read More @ TheDailyBell.com
Jim Sinclair’s Commentary
The answer is simple – both.
![clip_image002[6]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_sT-4mpPxNaqQgiy5lSy9nw5u3CKUU7FrK7MCjASOAM5gnDDOAfTyhsNM2GbIm0Sq0DMVSsTxX95qCWt3MAuDsNRGW188kAUR1DQ-8l854SGfZ46GCE9Qs4bT36qqtanESsuc9WzrE7MFL06MsVpLw=s0-d "clip_image002[6]")
Jim Sinclair’s Commentary
To our brothers and sisters in the cold, snowy north, physical gold should certainly be part of your non-bank, non-broker holdings.
Moody’s reviews 6 Canadian banks for downgrade
Agency cites ‘high consumer debt levels and elevated housing prices’ Posted: Oct 26, 2012 3:30 PM ET
Last Updated: Oct 26, 2012 4:38 PM ET
Bond rating company Moody’s Investors Service today said it would review the long-term ratings of six Canadian banks with the possibility of downgrading their creditworthiness.
Moody’s cited “concerns about high consumer debt levels and elevated housing prices” among its reasons, saying the banks are more vulnerable to a downturn in the Canadian economy than in the past.
The six include Bank of Montreal, Bank of Nova Scotia, Caisse Centrale Desjardins, Canadian Imperial Bank of Commerce, National Bank of Canada and Toronto-Dominion Bank.
The Bank of Montreal’s current Moody’s rating is Aa2, the Bank of Nova Scotia’s is Aa1, Caisse Centrale Desjardins’ is Aa1, the CIBC’s Aa2, the National’s Aa2 and the Toronto-Dominion’s, Aaa (see chart).
This spring, the average ratio of household debt to personal disposable income reached a record 163 per cent, up from 137 per cent five years earlier.
Canadian house prices, Moody’s said, rose 21 per cent in the last five years.
A downgrade could result in higher borrowing costs for the banks, which would be passed on to consumers.
Moody’s rating scale (investment grade): Aaa
Aa1
Aa2
Aa3
A1
A2
A3
Baa1
Baa2
Baa3
Source: Moody’s Investors Service
More…
Jim Sinclair’s Commentary
The major impact of the German court decision is to shine light on the question of do you trust the American financial leadership and therefore the decades long unaudited safekeeping.
Compliments of our friends at GATA.
Uneasiness in the Netherlands about national gold reserve Submitted by cpowell on Thu, 2012-10-25 14:32. Section: Daily Dispatches
Thanks to our friend Louis Boer for the translation of this report from Dutch to English.
* * *
From Nederlands Dageblad
Barneveld, Netherlands
Wednesday, October 24, 2012
http://www.nd.nl/artikelen/2012/oktober/24/vraagtekens-burgers-bij-goudv…
Almost 300 "concerned Netherlands citizens" have joined the German initiative for insight about the gold reserves.
In a petition the citizens committee demands "full openness on the quantity and storage location of the Netherlands’ physical gold, and on the extent and nature of the gold claims."
In Germany a lot of uneasiness has risen about the quantity, value, and quality of the gold reserves, which have not been audited in many years at various storage locations. Led by the tabloid newspaper Bild, German news media are wondering whether the 3.4-million kilograms of ingots are really there (valued at about E150 billion).
Under pressure from the German federal audit office, part of the gold stock will be repatriated from the United States to Frankfurt.
The Netherlands faces similar uneasiness about the position of its gold treasure — 612,000 kilograms with of a value of about E25 billion. The gold, in part located at De Nederlandse Bank in Amsterdam (about 10 percent), is also located at the Federal Reserve Bank of New York, in Ottawa, and London.
The Netherlands comes tenth on the list of gold reserves. The United States leads with 8.1 million kilograms. Germany comes second.
Tom Lassing, one of the signers of the petition and owner of the website beursbox.nl, says central banks are unjustly mysterious with gold reserves.
"The last years have seen a loss of trust in the financial system and we have been fooled a lot," Lassing says. "So I say: Just let the central banks like DNB show the gold is really there."
According his fellow signer Harm van Wijk of beursbulletin.nl there is every reason for an audit. "The reliability of politicians appeared not very great on the Greek issue, so rather than being ostriches we should seek certainty on the gold reserves."
One of the concerns is that the gold reserves of central banks has been pledged repeatedly through negotiable title deeds. Experts like commodities dealer Eric Sprott maintain that there is much more "paper" gold in circulation than there are ingots in the bank vaults.
Since 1990 the Netherlands has sold almost 1.1 million kilograms of its gold reserves.
Jim Sinclair’s Commentary
This is interesting as most US China analysts take comfort in China never selling US Treasuries because, supposedly, it would hurt them more.
Now that is a world class glib assumption based on nothing whatsoever. That is devoid of a solid fact trail.
Beijing hints at bond attack on Japan
A senior advisor to the Chinese government has called for an attack on the Japanese bond market to precipitate a funding crisis and bring the country to its knees, unless Tokyo reverses its decision to nationalise the disputed Senkaku/Diaoyu islands in the East China Sea. By Ambrose Evans-Pritchard
8:31PM BST 18 Sep 2012
Jin Baisong from the Chinese Academy of International Trade – a branch of the commerce ministry – said China should use its power as Japan’s biggest creditor with $230bn (£141bn) of bonds to “impose sanctions on Japan in the most effective manner” and bring Tokyo’s festering fiscal crisis to a head.
Writing in the Communist Party newspaper China Daily, Mr Jin called on China to invoke the “security exception” rule under the World Trade Organisation to punish Japan, rejecting arguments that a trade war between the two Pacific giants would be mutually destructive.
Separately, the Hong Kong Economic Journal reported that China is drawing up plans to cut off Japan’s supplies of rare earth metals needed for hi-tech industry.
The warnings came as anti-Japanese protests spread to 85 cities across China, forcing Japanese companies to shutter factories and suspend operations.
Fitch Ratings threatened to downgrade a clutch of Japanese exporters if the clash drags on. It warned that Nissan is heavily at risk with 26pc of its global car sales in China, followed by Honda with 20pc. Sharp and Panasonic both have major exposure. Japan’s exports to China were $74bn in the first half of this year. Bilateral trade reached $345bn last year.
Mr Jin said China can afford to sacrifice its “low-value-added” exports to Japan at a small cost. By contrast, Japan relies on Chinese demand to keep its economy afloat and stave off “irreversible” decline.
“It’s clear that China can deal a heavy blow to the Japanese economy without hurting itself too much,” he said. It is unclear whether he was speaking with the full backing of the Politburo or whether sales of Japanese debt would do much damage. The Bank of Japan could counter the move with bond purchases. Any weakening of the yen would be welcome.
A recent study by the US Defence Department concluded that a Chinese firesale of US debt was not a serious threat.
The US defence secretary, Leon Panetta, was in Beijing on Tuesday to try to stem the political crisis, calling for restraint on both sides.
He warned earlier that “provocations” over the islands could spiral out of control and lead to conflict.
Mr Panetta said the US is neutral but this is a hard balancing act, given the US nuclear umbrella for Japan and its use of military bases on Japanese soil as an “unsinkable aircraft carrier”. The ambiguity of the US role was glaring after a deal with Tokyo on Monday to build a new anti-missile radar shield – ostensibly against North Korea.
More…
I fear the day when the technology overlaps our humanity. The world will only have a generation of idiots. –Albert Einstein
Rumor Control:
We have a major whopper this evening. We all know the major shorts in gold shares are now and have been hedge funds. A prestigious gold community interviewer gave a platform to a Scottish hedge fund manger to be heard by the community.
I like to think the interviewer was blindsided when the hedge fund manager said he was a bull in gold but declared all gold companies will be confiscated when gold trades above $3000. Anyone who believes that has to assume that the fellow has inside information from governments all over the globe.
The latter part of this week has been big on people offering opinions as fact. If you believe this from an admitted short in gold shares, you really are gullible.
In my opinion, this statement by an admitted hedge fund manager short in some gold shares is simply negative public relations to benefit his short position without sound basis.
I believe this rumor is busted.
Jim Sinclair’s Commentary
A very important clarification of pre-election economic statistics from John Williams. A man you should subscribe to.
- Nonsense GDP Growth Was Statistically Insignificant
- Corrected for Misleading Deflation, GDP Shows No Recovery
- M3 Velocity Continued to Rise
- Durable Goods Orders Contracted Quarter-to-Quarter and Year-to-Year
- Home Sales Remained Stagnant at Low Levels of Activity
- Upcoming October Jobs Report
www.ShadowStats.com
Jim Sinclair’s Commentary
You will be honored to pick from two soon.
Sometimes I wonder whether the world is being run by smart people who put us on, or by imbeciles who really mean it. –Mark Twain
Jim Sinclair’s Commentary
This is sad but true.
Jim Sinclair’s Commentary
Let me assure you the proper attachment of RICO has been a long time coming in a major litigation.
This I assure you will get the attention of the banksters if it survives their motion to dismiss.
Major Banks, Governmental Officials and Their Comrade Capitalists Targets of Spire Law Group, LLP’s Racketeering and Money Laundering Lawsuit Seeking Return of $43 Trillion to the United States Treasury Published: Thursday, 25 Oct 2012 | 2:09 PM ET
NEW YORK, Oct. 25, 2012 /PRNewswire via COMTEX/ — Spire Law Group, LLP’s national home owners’ lawsuit, pending in the venue where the "Banksters" control their $43 trillion racketeering scheme (New York) – known as the largest money laundering and racketeering lawsuit in United States History and identifying $43 trillion ($43,000,000,000,000.00) of laundered money by the "Banksters" and their U.S. racketeering partners and joint venturers – now pinpoints the identities of the key racketeering partners of the "Banksters" located in the highest offices of government and acting for their own self-interests.
In connection with the federal lawsuit now impending in the United States District Court in Brooklyn, New York (Case No. 12-cv-04269-JBW-RML) – involving, among other things, a request that the District Court enjoin all mortgage foreclosures by the Banksters nationwide, unless and until the entire $43 trillion is repaid to a court-appointed receiver – Plaintiffs now establish the location of the $43 trillion ($43,000,000,000,000.00) of laundered money in a racketeering enterprise participated in by the following individuals (without limitation): Attorney General Holder acting in his individual capacity, Assistant Attorney General Tony West, the brother in law of Defendant California Attorney General Kamala Harris (both acting in their individual capacities), Jon Corzine (former New Jersey Governor), Robert Rubin (former Treasury Secretary and Bankster), Timothy Geitner, Treasury Secretary (acting in his individual capacity), Vikram Pandit (recently resigned and disgraced Chairman of the Board of Citigroup), Valerie Jarrett (a Senior White House Advisor), Anita Dunn (a former "communications director" for the Obama Administration), Robert Bauer (husband of Anita Dunn and Chief Legal Counsel for the Obama Re-election Campaign), as well as the "Banksters" themselves, and their affiliates and conduits. The lawsuit alleges serial violations of the United States Patriot Act, the Policy of Embargo Against Iran and Countries Hostile to the Foreign Policy of the United States, and the Racketeer Influenced and Corrupt Organizations Act (commonly known as the RICO statute) and other State and Federal laws.
In the District Court lawsuit, Spire Law Group, LLP — on behalf of home owner across the Country and New York taxpayers, as well as under other taxpayer recompense laws — has expanded its mass tort action into federal court in Brooklyn, New York, seeking to halt all foreclosures nationwide pending the return of the $43 trillion ($43,000,000,000.00) by the "Banksters" and their co-conspirators, seeking an audit of the Fed and audits of all the "bailout programs" by an independent receiver such as Neil Barofsky, former Inspector General of the TARP program who has stated that none of the TARP money and other "bailout money" advanced from the Treasury has ever been repaid despite protestations to the contrary by the Defendants as well as similar protestations by President Obama and the Obama Administration both publicly on national television and more privately to the United States Congress. Because the Obama Administration has failed to pursue any of the "Banksters" criminally, and indeed is actively borrowing monies for Mr. Obama’s campaign from these same "Banksters" to finance its political aspirations, the national group of plaintiff home owners has been forced to now expand its lawsuit to include racketeering, money laundering and intentional violations of the Iranian Nations Sanctions and Embargo Act by the national banks included among the "Bankster" Defendants.
The complaint – which has now been fully served on thousands of the "Banksters and their Co-Conspirators" – makes it irrefutable that the epicenter of this laundering and racketeering enterprise has been and continues to be Wall Street and continues to involve the very "Banksters" located there who have repeatedly asked in the past to be "bailed out" and to be "bailed out" in the future.
The Havens for the money laundering schemes – and certain of the names and places of these entities – are located in such venues as Switzerland, the Isle of Man, Luxembourg, Malaysia, Cypress and entities controlled by governments adverse to the interests of the United States Sanctions and Embargo Act against Iran, and are also identified in both the United Nations and the U.S. Senate’s recent reports on international money laundering. Many of these entities have already been personally served with summons and process of the complaint during the last six months. It is now beyond dispute that, while the Obama Administration was publicly encouraging loan modifications for home owners by "Banksters", it was privately ratifying the formation of these shell companies in violation of the United States Patriot Act, and State and Federal law. The case further alleges that through these obscure foreign companies, Bank of America, J.P. Morgan, Wells Fargo Bank, Citibank, Citigroup, One West Bank, and numerous other federally chartered banks stole trillions of dollars of home owners’ and taxpayers’ money during the last decade and then laundered it through offshore companies.
More…
Dear Jim,
The fact is that Greece, Italy and Spain are rapidly falling apart economically. I just cannot understand how it is that their individual 10 year bond rates have been falling dramatically, since summer. This should only happen if their economies were improving.
With the rapid deterioration of their economies it would follow that their respective bond rates should be soaring to new high levels in order to attract any investors, yet they are falling!
Also, (please see chart link) since gold hit $800+ in 1980 with a money supply of around 200 and it is currently around 2700, it would seem that gold should be approaching $10,000 right now! Perhaps I am naïve but why is there such a lag in correlation to the vastly increased money supply?
Thanks for your fantastic website,
CIGA Ron
Ron,
What you see in Euroland bonds is called QE to infinity, which is non-economic buying.
No matter who is elected in the USA this must continue to prevent the Western financial scene from looking like "Mad Max and the Day After."
Whatever is required will be provided with the backup of the Federal Reserve swap desk. There simply is no other practical choice.
Gold is headed to and through $3500. All you need to do if you want to see gold at $12,400 is not reappoint Bernanke and put in some dogmatic, not practical political hack as the new Chairman who does not follow Bernanke’s lead. The dollar would rise and gold would fall for a short while before the dollar collapses and gold tears its way to balance the international balance sheet of the USA. There is no room to maneuver financially at all. Any attempt to change course and we will all have Chinese bosses. This is economic war opportunity for the enemies of the West which simply would be too inviting to not be taken advantage of.
The key to this understanding is to know in a practical sense there is no difference between candidates as they all work for the same family in the final analysis.
Regards,
Jim
Jim Sinclair’s Commentary
No candidate has one inch to financially maneuver. A wrong move at this points opens the gates of financial hell. You may not like the tactics of Bernanke, but his QE glue held together a bankrupt financial world. He had no other alternative.
Change now at the Fed would be a colossal error regardless of arguements made on principle.
The deed has been done. The deed cannot be undone. The deed was the flushing of Lehman and the eradication of a solution to the OTC derivative debacle My argument is always on practicality.
Charts compliments of CIGA Madisonstyle.
As a percentage of national income, labor’s share is in a free-fall:
Income for every age group other than 65+ seniors has declined sharply:
The income of those in their peak earning years 45-54 have been slammed:
Hourly earnings have been trending down for years:
Household debt loads have soared far above wages:
Meanwhile, government expenditures are up, up and away:
Hi Jim,
Please help me understand how if we are headed to certain collapse then why would turning off the fiat faucet be a bad thing? Is it not true that the longer the can is kicked and the more debt incurred then the harder the fall and longer the recovery? It’s hard to get how something that flies in the face of immutable laws would be better carried on longer. What am I missing Jim?
CIGA Bill
Bill,
The earth under your feet would simply disappear. You want a world like Mad Max? You are going to get it 90 days after QE ceases.
I do not preach any principle. I tell it like it is. Like it or not, I am total right on this.
I do not like it, but what does that matter. You might not like it, but what does that mean.
You will know soon.
Jim
The Predator Versus Prey in Financial Markets CIGA Eric
"Do not be stampeded into turning over your gold investments to the greedy shorts now open mouthed and waiting like a wolf for its prey."
Good stuff! The predator prey relationship has existed in financial markets since their inception.
A quick study of previous 1-2-3 delays in the AB transition (magenta circles) suggests that the wolves have likely retreated from their initial attack.
Chart: London PM Fixed Gold and GLD (ETF) Total Assets WA Stochastic
Commentary: Manufactured Market Drama My Dear Friends
My Dear Friends,
1. The entire reason that I launched into the explanation of spread trading was to demonstrate how it is used to manipulate markets.
2. Recognizing the multiple blocks at $1775 and $1800, it was obvious a line was being drawn in the sand.
3. In that market situation a reaction was reasonable to anticipate.
4. I wanted to drive home to you the fact that all the market drama as seen today is manufactured by the gold banks.
5. QE cannot stop or the economic implosion would blow up your computer screen.
6. If some nitwit Chairman tried to stop QE you would have a few days of dollar strength followed by a collapse of the currency based on the economic implications.
7. Then gold’s highest possible estimates would come into focus as the downward spiral already in place in the Western world did in fact present itself as a black hole.
8. The event horizon to a total collapse is QE to infinity, as was anticipated.
9. QE’s focus is to prevent financial balance sheet collapse both privately and publicly internationally.
10. Jobs are only created the way Roosevelt did it, and that was by Federal invention of jobs if required when conditions are as they are now. Remember the conservation corp and all the make-work jobs that were invented in the 30s?
11. The thought that any candidate can change the present situation is intellectual garbage of those who do not even know there is economic law. Once violated, those laws brings consequences.
12. This, like all reactions, will be completed when it is completed, and that will be soon.
13. You could see the spread cartel working all day.
14. Do not be stampeded into turning over your gold investments to the greedy shorts now open mouthed and waiting like a wolf for its prey.
15. Simply ignore this, taking my hand in the knowledge that this is no different from the many similar plays made by exactly the same people all the way from $248 to the $1900s.
16. Email me if you are confused or simply need my help.
17. I will personally return your communications, answering your questions.
18. Gold is going to and through $3500 and those that find this humorous are the same people that laughed and scorned me at $529.40 when I told you that the very long term breakout had occurred, the strongest magnet among all was $1650 and gold would trade there and above.
Please shut off your quote machine and email me before your emotions drive you wild and directly into the mouth of the wolf, the short spreader.
Respectfully,
Jim
Source: jsmineset.com
More…
Get Ready: Everything Is Going to Cost More Next Year CIGA Eric
That’s how inflation works – everything costs more as time passes.
Headline: Get Ready: Everything Is Going to Cost More Next Year
Consumers will have to dig deeper into their pockets next year to pay for costlier health care, more expensive grocery bills and higher taxes, an extra drag on the country’s already slow-moving economy.
The additional outlays look set to test the resilience of consumers, whose spending accounts for around two-thirds of the U.S. economy.
"We think it’s going to be a difficult six to nine months," said Scott Hoyt, senior director of consumer economics for Moody’s Analytics. "If anything, conditions are likely to get worse, particularly at the start of the year."
Source: cnbc.com
More…
Jim,
What does the Fed see as the end game with QE? Certainly they don’t think it is
hyperinflation and disaster.
Thanks for your wisdom and help!
CIGA Jack M
Jack,
Some on the Fed board dream of a great economic recovery while if an early 2013 curtailment of QE to infinity was to occur, gold would get wild for a few days, and then start dancing with the stars.
Jim
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Afghanistan mosque suicide bomb attack kills at least 41 … A suicide bomber targeted worshippers who had gathered at a mosque in north Afghanistan for prayers to mark Eid al-Adha, killing at least 41 people. More than 50 people were wounded in the attack, which happened as people were leaving the Eid Gah mosque in Maymana, capital of Faryab province. Senior provincial government and police officials attended the prayers, but appeared to escape serious injury. The victims were mainly police officers and civilians. This attack in Maymana, the provincial capital of Faryab, exposes a number of serious concerns about the security situation there. There is a widespread perception that Faryab is a very peaceful province, but recent developments are telling. There have been a number of assassinations of tribal elders recently in Maymana. Nato forces have also conducted frequent night raids targeting the Taliban and the Islamic Movement of Uzbekistan militant group (IMU). – BBC
Dominant Social Theme: The war is being won.
Free-Market Analysis: The deaths in Afghanistan, after more than a decade of war, keep climbing. Our paradigm proves itself out daily.
The West is not in Afghanistan to help its women. The West is not in Afghanistan because of its mineral wealth. The West is not in Afghanistan to create peaceful democracy.
Read More @ TheDailyBell.com
Jim Sinclair’s Commentary
The answer is simple – both.
![clip_image002[6]](http://www.jsmineset.com/wp-content/uploads/2012/10/clip_image00261.jpg "clip_image002[6]")
Jim Sinclair’s Commentary
To our brothers and sisters in the cold, snowy north, physical gold should certainly be part of your non-bank, non-broker holdings.
Moody’s reviews 6 Canadian banks for downgrade
Agency cites ‘high consumer debt levels and elevated housing prices’ Posted: Oct 26, 2012 3:30 PM ET
Last Updated: Oct 26, 2012 4:38 PM ET
Bond rating company Moody’s Investors Service today said it would review the long-term ratings of six Canadian banks with the possibility of downgrading their creditworthiness.
Moody’s cited “concerns about high consumer debt levels and elevated housing prices” among its reasons, saying the banks are more vulnerable to a downturn in the Canadian economy than in the past.
The six include Bank of Montreal, Bank of Nova Scotia, Caisse Centrale Desjardins, Canadian Imperial Bank of Commerce, National Bank of Canada and Toronto-Dominion Bank.
The Bank of Montreal’s current Moody’s rating is Aa2, the Bank of Nova Scotia’s is Aa1, Caisse Centrale Desjardins’ is Aa1, the CIBC’s Aa2, the National’s Aa2 and the Toronto-Dominion’s, Aaa (see chart).
This spring, the average ratio of household debt to personal disposable income reached a record 163 per cent, up from 137 per cent five years earlier.
Canadian house prices, Moody’s said, rose 21 per cent in the last five years.
A downgrade could result in higher borrowing costs for the banks, which would be passed on to consumers.
Moody’s rating scale (investment grade): Aaa
Aa1
Aa2
Aa3
A1
A2
A3
Baa1
Baa2
Baa3
Source: Moody’s Investors Service
More…
Jim Sinclair’s Commentary
The major impact of the German court decision is to shine light on the question of do you trust the American financial leadership and therefore the decades long unaudited safekeeping.
Compliments of our friends at GATA.
Uneasiness in the Netherlands about national gold reserve Submitted by cpowell on Thu, 2012-10-25 14:32. Section: Daily Dispatches
Thanks to our friend Louis Boer for the translation of this report from Dutch to English.
* * *
From Nederlands Dageblad
Barneveld, Netherlands
Wednesday, October 24, 2012
http://www.nd.nl/artikelen/2012/oktober/24/vraagtekens-burgers-bij-goudv…
Almost 300 "concerned Netherlands citizens" have joined the German initiative for insight about the gold reserves.
In a petition the citizens committee demands "full openness on the quantity and storage location of the Netherlands’ physical gold, and on the extent and nature of the gold claims."
In Germany a lot of uneasiness has risen about the quantity, value, and quality of the gold reserves, which have not been audited in many years at various storage locations. Led by the tabloid newspaper Bild, German news media are wondering whether the 3.4-million kilograms of ingots are really there (valued at about E150 billion).
Under pressure from the German federal audit office, part of the gold stock will be repatriated from the United States to Frankfurt.
The Netherlands faces similar uneasiness about the position of its gold treasure — 612,000 kilograms with of a value of about E25 billion. The gold, in part located at De Nederlandse Bank in Amsterdam (about 10 percent), is also located at the Federal Reserve Bank of New York, in Ottawa, and London.
The Netherlands comes tenth on the list of gold reserves. The United States leads with 8.1 million kilograms. Germany comes second.
Tom Lassing, one of the signers of the petition and owner of the website beursbox.nl, says central banks are unjustly mysterious with gold reserves.
"The last years have seen a loss of trust in the financial system and we have been fooled a lot," Lassing says. "So I say: Just let the central banks like DNB show the gold is really there."
According his fellow signer Harm van Wijk of beursbulletin.nl there is every reason for an audit. "The reliability of politicians appeared not very great on the Greek issue, so rather than being ostriches we should seek certainty on the gold reserves."
One of the concerns is that the gold reserves of central banks has been pledged repeatedly through negotiable title deeds. Experts like commodities dealer Eric Sprott maintain that there is much more "paper" gold in circulation than there are ingots in the bank vaults.
Since 1990 the Netherlands has sold almost 1.1 million kilograms of its gold reserves.
Jim Sinclair’s Commentary
This is interesting as most US China analysts take comfort in China never selling US Treasuries because, supposedly, it would hurt them more.
Now that is a world class glib assumption based on nothing whatsoever. That is devoid of a solid fact trail.
Beijing hints at bond attack on Japan
A senior advisor to the Chinese government has called for an attack on the Japanese bond market to precipitate a funding crisis and bring the country to its knees, unless Tokyo reverses its decision to nationalise the disputed Senkaku/Diaoyu islands in the East China Sea. By Ambrose Evans-Pritchard
8:31PM BST 18 Sep 2012
Jin Baisong from the Chinese Academy of International Trade – a branch of the commerce ministry – said China should use its power as Japan’s biggest creditor with $230bn (£141bn) of bonds to “impose sanctions on Japan in the most effective manner” and bring Tokyo’s festering fiscal crisis to a head.
Writing in the Communist Party newspaper China Daily, Mr Jin called on China to invoke the “security exception” rule under the World Trade Organisation to punish Japan, rejecting arguments that a trade war between the two Pacific giants would be mutually destructive.
Separately, the Hong Kong Economic Journal reported that China is drawing up plans to cut off Japan’s supplies of rare earth metals needed for hi-tech industry.
The warnings came as anti-Japanese protests spread to 85 cities across China, forcing Japanese companies to shutter factories and suspend operations.
Fitch Ratings threatened to downgrade a clutch of Japanese exporters if the clash drags on. It warned that Nissan is heavily at risk with 26pc of its global car sales in China, followed by Honda with 20pc. Sharp and Panasonic both have major exposure. Japan’s exports to China were $74bn in the first half of this year. Bilateral trade reached $345bn last year.
Mr Jin said China can afford to sacrifice its “low-value-added” exports to Japan at a small cost. By contrast, Japan relies on Chinese demand to keep its economy afloat and stave off “irreversible” decline.
“It’s clear that China can deal a heavy blow to the Japanese economy without hurting itself too much,” he said. It is unclear whether he was speaking with the full backing of the Politburo or whether sales of Japanese debt would do much damage. The Bank of Japan could counter the move with bond purchases. Any weakening of the yen would be welcome.
A recent study by the US Defence Department concluded that a Chinese firesale of US debt was not a serious threat.
The US defence secretary, Leon Panetta, was in Beijing on Tuesday to try to stem the political crisis, calling for restraint on both sides.
He warned earlier that “provocations” over the islands could spiral out of control and lead to conflict.
Mr Panetta said the US is neutral but this is a hard balancing act, given the US nuclear umbrella for Japan and its use of military bases on Japanese soil as an “unsinkable aircraft carrier”. The ambiguity of the US role was glaring after a deal with Tokyo on Monday to build a new anti-missile radar shield – ostensibly against North Korea.
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I fear the day when the technology overlaps our humanity. The world will only have a generation of idiots. –Albert Einstein
Rumor Control:
We have a major whopper this evening. We all know the major shorts in gold shares are now and have been hedge funds. A prestigious gold community interviewer gave a platform to a Scottish hedge fund manger to be heard by the community.
I like to think the interviewer was blindsided when the hedge fund manager said he was a bull in gold but declared all gold companies will be confiscated when gold trades above $3000. Anyone who believes that has to assume that the fellow has inside information from governments all over the globe.
The latter part of this week has been big on people offering opinions as fact. If you believe this from an admitted short in gold shares, you really are gullible.
In my opinion, this statement by an admitted hedge fund manager short in some gold shares is simply negative public relations to benefit his short position without sound basis.
I believe this rumor is busted.
Jim Sinclair’s Commentary
A very important clarification of pre-election economic statistics from John Williams. A man you should subscribe to.
- Nonsense GDP Growth Was Statistically Insignificant
- Corrected for Misleading Deflation, GDP Shows No Recovery
- M3 Velocity Continued to Rise
- Durable Goods Orders Contracted Quarter-to-Quarter and Year-to-Year
- Home Sales Remained Stagnant at Low Levels of Activity
- Upcoming October Jobs Report
www.ShadowStats.com
Jim Sinclair’s Commentary
You will be honored to pick from two soon.
Sometimes I wonder whether the world is being run by smart people who put us on, or by imbeciles who really mean it. –Mark Twain
Jim Sinclair’s Commentary
This is sad but true.
Jim Sinclair’s Commentary
Let me assure you the proper attachment of RICO has been a long time coming in a major litigation.
This I assure you will get the attention of the banksters if it survives their motion to dismiss.
Major Banks, Governmental Officials and Their Comrade Capitalists Targets of Spire Law Group, LLP’s Racketeering and Money Laundering Lawsuit Seeking Return of $43 Trillion to the United States Treasury Published: Thursday, 25 Oct 2012 | 2:09 PM ET
NEW YORK, Oct. 25, 2012 /PRNewswire via COMTEX/ — Spire Law Group, LLP’s national home owners’ lawsuit, pending in the venue where the "Banksters" control their $43 trillion racketeering scheme (New York) – known as the largest money laundering and racketeering lawsuit in United States History and identifying $43 trillion ($43,000,000,000,000.00) of laundered money by the "Banksters" and their U.S. racketeering partners and joint venturers – now pinpoints the identities of the key racketeering partners of the "Banksters" located in the highest offices of government and acting for their own self-interests.
In connection with the federal lawsuit now impending in the United States District Court in Brooklyn, New York (Case No. 12-cv-04269-JBW-RML) – involving, among other things, a request that the District Court enjoin all mortgage foreclosures by the Banksters nationwide, unless and until the entire $43 trillion is repaid to a court-appointed receiver – Plaintiffs now establish the location of the $43 trillion ($43,000,000,000,000.00) of laundered money in a racketeering enterprise participated in by the following individuals (without limitation): Attorney General Holder acting in his individual capacity, Assistant Attorney General Tony West, the brother in law of Defendant California Attorney General Kamala Harris (both acting in their individual capacities), Jon Corzine (former New Jersey Governor), Robert Rubin (former Treasury Secretary and Bankster), Timothy Geitner, Treasury Secretary (acting in his individual capacity), Vikram Pandit (recently resigned and disgraced Chairman of the Board of Citigroup), Valerie Jarrett (a Senior White House Advisor), Anita Dunn (a former "communications director" for the Obama Administration), Robert Bauer (husband of Anita Dunn and Chief Legal Counsel for the Obama Re-election Campaign), as well as the "Banksters" themselves, and their affiliates and conduits. The lawsuit alleges serial violations of the United States Patriot Act, the Policy of Embargo Against Iran and Countries Hostile to the Foreign Policy of the United States, and the Racketeer Influenced and Corrupt Organizations Act (commonly known as the RICO statute) and other State and Federal laws.
In the District Court lawsuit, Spire Law Group, LLP — on behalf of home owner across the Country and New York taxpayers, as well as under other taxpayer recompense laws — has expanded its mass tort action into federal court in Brooklyn, New York, seeking to halt all foreclosures nationwide pending the return of the $43 trillion ($43,000,000,000.00) by the "Banksters" and their co-conspirators, seeking an audit of the Fed and audits of all the "bailout programs" by an independent receiver such as Neil Barofsky, former Inspector General of the TARP program who has stated that none of the TARP money and other "bailout money" advanced from the Treasury has ever been repaid despite protestations to the contrary by the Defendants as well as similar protestations by President Obama and the Obama Administration both publicly on national television and more privately to the United States Congress. Because the Obama Administration has failed to pursue any of the "Banksters" criminally, and indeed is actively borrowing monies for Mr. Obama’s campaign from these same "Banksters" to finance its political aspirations, the national group of plaintiff home owners has been forced to now expand its lawsuit to include racketeering, money laundering and intentional violations of the Iranian Nations Sanctions and Embargo Act by the national banks included among the "Bankster" Defendants.
The complaint – which has now been fully served on thousands of the "Banksters and their Co-Conspirators" – makes it irrefutable that the epicenter of this laundering and racketeering enterprise has been and continues to be Wall Street and continues to involve the very "Banksters" located there who have repeatedly asked in the past to be "bailed out" and to be "bailed out" in the future.
The Havens for the money laundering schemes – and certain of the names and places of these entities – are located in such venues as Switzerland, the Isle of Man, Luxembourg, Malaysia, Cypress and entities controlled by governments adverse to the interests of the United States Sanctions and Embargo Act against Iran, and are also identified in both the United Nations and the U.S. Senate’s recent reports on international money laundering. Many of these entities have already been personally served with summons and process of the complaint during the last six months. It is now beyond dispute that, while the Obama Administration was publicly encouraging loan modifications for home owners by "Banksters", it was privately ratifying the formation of these shell companies in violation of the United States Patriot Act, and State and Federal law. The case further alleges that through these obscure foreign companies, Bank of America, J.P. Morgan, Wells Fargo Bank, Citibank, Citigroup, One West Bank, and numerous other federally chartered banks stole trillions of dollars of home owners’ and taxpayers’ money during the last decade and then laundered it through offshore companies.
More…
Dear Jim,
The fact is that Greece, Italy and Spain are rapidly falling apart economically. I just cannot understand how it is that their individual 10 year bond rates have been falling dramatically, since summer. This should only happen if their economies were improving.
With the rapid deterioration of their economies it would follow that their respective bond rates should be soaring to new high levels in order to attract any investors, yet they are falling!
Also, (please see chart link) since gold hit $800+ in 1980 with a money supply of around 200 and it is currently around 2700, it would seem that gold should be approaching $10,000 right now! Perhaps I am naïve but why is there such a lag in correlation to the vastly increased money supply?
Thanks for your fantastic website,
CIGA Ron
Ron,
What you see in Euroland bonds is called QE to infinity, which is non-economic buying.
No matter who is elected in the USA this must continue to prevent the Western financial scene from looking like "Mad Max and the Day After."
Whatever is required will be provided with the backup of the Federal Reserve swap desk. There simply is no other practical choice.
Gold is headed to and through $3500. All you need to do if you want to see gold at $12,400 is not reappoint Bernanke and put in some dogmatic, not practical political hack as the new Chairman who does not follow Bernanke’s lead. The dollar would rise and gold would fall for a short while before the dollar collapses and gold tears its way to balance the international balance sheet of the USA. There is no room to maneuver financially at all. Any attempt to change course and we will all have Chinese bosses. This is economic war opportunity for the enemies of the West which simply would be too inviting to not be taken advantage of.
The key to this understanding is to know in a practical sense there is no difference between candidates as they all work for the same family in the final analysis.
Regards,
Jim
Jim Sinclair’s Commentary
No candidate has one inch to financially maneuver. A wrong move at this points opens the gates of financial hell. You may not like the tactics of Bernanke, but his QE glue held together a bankrupt financial world. He had no other alternative.
Change now at the Fed would be a colossal error regardless of arguements made on principle.
The deed has been done. The deed cannot be undone. The deed was the flushing of Lehman and the eradication of a solution to the OTC derivative debacle My argument is always on practicality.
Charts compliments of CIGA Madisonstyle.
As a percentage of national income, labor’s share is in a free-fall:
Income for every age group other than 65+ seniors has declined sharply:
The income of those in their peak earning years 45-54 have been slammed:
Hourly earnings have been trending down for years:
Household debt loads have soared far above wages:
Meanwhile, government expenditures are up, up and away:
Hi Jim,
Please help me understand how if we are headed to certain collapse then why would turning off the fiat faucet be a bad thing? Is it not true that the longer the can is kicked and the more debt incurred then the harder the fall and longer the recovery? It’s hard to get how something that flies in the face of immutable laws would be better carried on longer. What am I missing Jim?
CIGA Bill
Bill,
The earth under your feet would simply disappear. You want a world like Mad Max? You are going to get it 90 days after QE ceases.
I do not preach any principle. I tell it like it is. Like it or not, I am total right on this.
I do not like it, but what does that matter. You might not like it, but what does that mean.
You will know soon.
Jim
The Predator Versus Prey in Financial Markets CIGA Eric
"Do not be stampeded into turning over your gold investments to the greedy shorts now open mouthed and waiting like a wolf for its prey."
Good stuff! The predator prey relationship has existed in financial markets since their inception.
A quick study of previous 1-2-3 delays in the AB transition (magenta circles) suggests that the wolves have likely retreated from their initial attack.
Chart: London PM Fixed Gold and GLD (ETF) Total Assets WA Stochastic
Commentary: Manufactured Market Drama My Dear Friends
My Dear Friends,
1. The entire reason that I launched into the explanation of spread trading was to demonstrate how it is used to manipulate markets.
2. Recognizing the multiple blocks at $1775 and $1800, it was obvious a line was being drawn in the sand.
3. In that market situation a reaction was reasonable to anticipate.
4. I wanted to drive home to you the fact that all the market drama as seen today is manufactured by the gold banks.
5. QE cannot stop or the economic implosion would blow up your computer screen.
6. If some nitwit Chairman tried to stop QE you would have a few days of dollar strength followed by a collapse of the currency based on the economic implications.
7. Then gold’s highest possible estimates would come into focus as the downward spiral already in place in the Western world did in fact present itself as a black hole.
8. The event horizon to a total collapse is QE to infinity, as was anticipated.
9. QE’s focus is to prevent financial balance sheet collapse both privately and publicly internationally.
10. Jobs are only created the way Roosevelt did it, and that was by Federal invention of jobs if required when conditions are as they are now. Remember the conservation corp and all the make-work jobs that were invented in the 30s?
11. The thought that any candidate can change the present situation is intellectual garbage of those who do not even know there is economic law. Once violated, those laws brings consequences.
12. This, like all reactions, will be completed when it is completed, and that will be soon.
13. You could see the spread cartel working all day.
14. Do not be stampeded into turning over your gold investments to the greedy shorts now open mouthed and waiting like a wolf for its prey.
15. Simply ignore this, taking my hand in the knowledge that this is no different from the many similar plays made by exactly the same people all the way from $248 to the $1900s.
16. Email me if you are confused or simply need my help.
17. I will personally return your communications, answering your questions.
18. Gold is going to and through $3500 and those that find this humorous are the same people that laughed and scorned me at $529.40 when I told you that the very long term breakout had occurred, the strongest magnet among all was $1650 and gold would trade there and above.
Please shut off your quote machine and email me before your emotions drive you wild and directly into the mouth of the wolf, the short spreader.
Respectfully,
Jim
Source: jsmineset.com
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Get Ready: Everything Is Going to Cost More Next Year CIGA Eric
That’s how inflation works – everything costs more as time passes.
Headline: Get Ready: Everything Is Going to Cost More Next Year
Consumers will have to dig deeper into their pockets next year to pay for costlier health care, more expensive grocery bills and higher taxes, an extra drag on the country’s already slow-moving economy.
The additional outlays look set to test the resilience of consumers, whose spending accounts for around two-thirds of the U.S. economy.
"We think it’s going to be a difficult six to nine months," said Scott Hoyt, senior director of consumer economics for Moody’s Analytics. "If anything, conditions are likely to get worse, particularly at the start of the year."
Source: cnbc.com
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Jim,
What does the Fed see as the end game with QE? Certainly they don’t think it is
hyperinflation and disaster.
Thanks for your wisdom and help!
CIGA Jack M
Jack,
Some on the Fed board dream of a great economic recovery while if an early 2013 curtailment of QE to infinity was to occur, gold would get wild for a few days, and then start dancing with the stars.
Jim
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