How to Buy Bullion (What to Ask and What to Own)

Posted by: Phoenix Capital...

Post date: 10/21/2012 - 10:54

  Quite a few articles have been written about the importance of owning Gold and other precious metals as a means of maintaining one’s wealth in the face of rampant money printing by the...

 

Lessons In Fiat Reality: "Why I Learned To Trade Less And Love The Farm"

Stephen Diggle is one of the least well known (except to his clients) and yet most successful hedge fund managers over the past decade - having made around two-and-a-half billion dollars during the financial crisis - but in the last few years, he came to a dramatic (and we hope enlightening for many) perspective. This fascinating presentation, in his own words, discusses "how , having made that fortune trading, [he] came to conclude that [he] wanted to preserve the real value of that fiat money windfall, [he] had to get away from trading and buy, own, and operate real assets with real cashflows." - most specifically farms. From being ridiculed as a 'Cassandra' in the mid to late 2000s, Stephen's conviction then that the world was heading for a crisis was as high as his conviction now that in order to ride the wave of global central bank intervention and the implicit macro-economic waves that will crash on every shore in the forthcoming years, that farmland (preferably diversified) is the best risk-reward 'trade' in the coming decade. An intriguing tale of reality and un-greed and everything you need to know about agriculture (from demand to demographics and from fiat-debauchment to interventionist policies) but never knew to ask. An inspiring and insightful brief presentation that offers more depth than any Jim Rogers' mini-clip on CNBC.

Chinese Gold Imports Through August Surpass Total ECB Holdings, Imports From Australia Surge 900%

First it was more than the UK. Then more than Portugal. Then a month ago we said that as of September, "it is now safe to say that in 2012 alone China has imported more gold than the ECB's entire official 502.1 tons of holdings." Sure enough, according to the latest release from the Hong Kong Census and Statistics Department, through the end of August, China had imported a whopping gross 512 tons of gold, 10 tons more than the latest official ECB gold holdings. We can now safely say that as of today, China will have imported more gold than the 11th largest official holder of gold, India, with 558 tons. Yet despite importing more gold than the sovereign holdings of virtually all official entities, save for ten, importing more gold in July than in any month in 2012 except for April, importing more gold in 8 months in 2012 than all of 2011, and importing four times as much between January and July than as much as in the same period last year, here is MarketWatch with its brilliant conclusion that the 'plunge' in gold imports in August can only be indicative of the end of the Chinese gold market, and the second coming of infinitely dilutable fiat.

In Historic First China Begins Oil Extraction In Afghanistan

In a surprising (if not quite shocking) move, late on Friday Canada blocked Petroliam Nasional Bhd.’s C$5.2 billion takeover of Progress Energy Resources Corp. saying the bid by the Malaysian state-owned company "wasn’t in Canada’s national interests." As BusinessWeek explains, "in what investors say is a test case for the $15.1 billion bid by CNOOC Ltd. of China for Calgary-based Nexen Inc., the Canadian government said it “was not satisfied that the proposed investment is likely to be of net benefit to Canada,” according to an Oct. 19 statement from Industry Minister Christian Paradis." While it is unclear precisely what would be of "net benefit to Canada" what is certain is that the Progress Energy move will crush investor spirits who in recent months have expected a flurry of foreign bids coming for local energy names, only to be left at the altar courtesy of government intervention. And while the outlook for foreign driven M&A in Canada has just been Ice-9'ed to a degree not seen since the BHP Billiton government-denied acquisition of Potash Corp (watch the arbs scurry out of Nexen at first trading opportunity), China is wasting no time, and is rapidly reorineting itself away from increasingly energy-protectionist governments and to "greenfield" national interest expansion opportunities. Such as Afghanistan. As Reuters reports, in a historic development, and in a key staking of regional energy claims, a Chinese oil firm, China National Petroleum Corp, has just started oil production in the country which still has thousands of US troops on the ground. Expect this issue also to suddenly be of paramount importance in next week's final presidential debate.

Mass Shooting At Brookfield Square Mall In Wisconsin

Breaking news of a mass shooting at the Azana Salon and Spa at the Brookfield Square Mall. Details still scarce but at least 4 people reported wounded and 3 more patients expected, emergency responders are on the ground, and the mall has been put on lockdown. The shooting suspect, who is said to have used a machine gun, is still at large. Updates via @USEmergAlerts:
BROOKFIELD SQUARE | U/D SUSP BLACK MALE 6'1" 270 LBS. BALD. BROWN EYES
U/D BPD RQST A MILWAUKEE SWAT TEAM & FLIGHT FOR LIFE IS ALSO LANDING AT THE NE CORNER OF BROOKFIELD SQUARE | UEA555 

Meet The Billionaires Behind The Best Presidents Money Can Buy

The last time we checked on the (funding) status of America's real presidential race - the one where America's uber-wealthy try to outspend each other in hopes of purchasing the best president money can buy - the totals were substantially lower. With November 6 rapidly approaching, however, the scramble to lock in those record political lobbying IRRs is in its final lap. And thanks to the unlimited nature of PAC spending, look for the spending to really go into overdrive in the next 2 weeks as the spending frenzy on the world's greatest tragicomedy hits previously unseen heights.

Google/GE report disappointing top and bottom numbers/all globe bourses lower/Spainish bailout regional fund out of money/gold and silver bashed/Silver OI holds up/

Harvey Organ at Harvey Organ's - The Daily Gold and Silver Report - 1 hour ago

Good  afternoon Ladies and Gentlemen: Gold closed down $20.80 to finish the comex session at $1722.80.  The price of silver did not fare any better falling by 80 cents down to $32.04. However the gold equity shares started to rally big time which is a sure sign that gold and silver metal will rise on Monday morning.  Sunday will see the election in two regions of Spain where one region is under

How I Caused the 1987 Crash

I got a chuckle from the biz blogs and TV yesterday with the rehash of the 1987 stock crash. Twenty-five years is a very long time. I’d forgotten most of the events of that day.
I was at Drexel, and at that time, Drexel was a powerhouse. The firm had plenty of capital and huge capacity to borrow money to fund positions. Money was rolling in; risk taking was encouraged. I was working with a small group of people on one of the screwier sub-sets of the high yield bond market. It was referred to as LDC debt (Less Developed Country debt). These were the busted bank loans of all of the countries in South America.
You might wonder why anyone would spend time mucking around with the debts of Brazil, Mexico, Argentina and Chile. Actually, it was a great business. We were coining money. The key to our (and others) success was the ability to make a price on illiquid assets. If some regional bank needed to sell $25Mn of Brazilian debt, we would make a bid on the phone. If a company were in need of some Mexican debt that would be used in a debt for equity transaction, we would offer the paper to the buyer, even though we did not own it.
Read More @ BruceKrasting.blogspot.com



From 2009 Zimbabwe Hyperinflation...

The Weekend Vigilante October 20th, 2012

by Jeff Berwick, Dollar Vigilante:

Hello from the world’s fourth most dangerous, beautiful tropical paradise!
A recent compilation denoted Acapulco as the fourth most dangerous city on Earth.  Boy, I wish I could say that with pride.  Many are imagining that I must live in a warzone.  That every time I leave the house I have to fight off gangs with rocket launchers and just barely make it back to my villa on the hill, dodging bullets, covered in sweat and dirt, kiss my kids and pray we make it through another day.
With some shame, I have to admit that is pretty much the exact opposite of life here.  I wake up to the second most beautiful bay on Earth (Rio being the first, imo), jog down the costera to the gym, work most of the day on my laptop before heading to the center of action to my designated seat at a bar called Mangos on the beach.  Along the way I have to stop repeatedly to shake hands with almost everyone… and kiss countless girls on the cheek, as is customary.  I continue working on my laptop until mid evening and by then most of the TDV crew, which is swelling in size, has usually taken seats all around me… and numerous TDV subscribers and people who have moved down here thanks to my recommendation. On some evenings I then head out with my wife to one of the hundreds of world class restaurants in a city full of interesting and diverse restaurants including my favorite restaurant on Earth, Becco al Mare.
Read More @ DollarVigilante.com

You Will Be Betrayed

by Jeffrey Tucker, Laissez Faire Books:
My neighborhood is filling up with political yard signs. Vote for this guy! Vote for that guy!
I can’t understand why people are willing to give up precious real estate on their front lawns, make friends mad at them, and put their own credibility on the line to back some politico who will certainly betray them in a matter of weeks. The con men who people cheer in politics have done little or nothing to deserve this kind of public support.
My neighborhood forbids commercial advertising on the front lawn, but the code makes an exception for politicians running for office. If anything, it should be the opposite. Commerce serves me every day. I feel genuine gratitude for these companies who give me great products and services, always keep their promises, and never force anything on me.
Read More @ LFB.com

War, Terror, and Banking

by Joseph Salerno, Lew Rockwell:

Joseph Salerno talks to Lew Rockwell about our enemies, and practical ways to fight them.
CLICK HERE FOR AUDIO INTERVIEW

Price of food, not just gas, has risen dramatically past decade

by Ethan A. Huff,, Natural News:
One of the primary issues being addressed during this 2012 political cycle involves the rising cost of gasoline, which has surged by more than 158 percent since 2002, according to U.S. Bureau of Labor Statistics (BLS) figures, and with no end in sight. But did you know that many other major food and household items on the Consumer Price Index (CPI) have also risen by the same or even higher amounts during this time period?
As reported by The Blaze, everything from eggs and milk to beer and wine has seen drastic price increases throughout the past decade, illustrating how wildly out of control inflation has become in the U.S. as a result of a failed fiat currency. Here is a list of 12 other consumer items besides gasoline, in order from the lowest increase to the highest increase, that have spiked in price over the past 10 years:
1) Milk: A gallon of pasteurized, homogenized whole milk was priced around $2.75 back in 2002. But today, that same gallon of processed milk costs about $3.47, representing a 26 percent increase.
Read More @ NaturalNews.com

Truth becomes extinct

By Bob Patterson, Op Ed News:
At the next debate, President Obama should be accompanied by a guy in a full fire fighting outfit like George W. Bush was when he spoke at the World Trade Center because if the challenger, Bishop Romney, tells any more lies in the next debate than he did in the last one, surely his pants will catch on fire. The President should announce the reason for having that unusual escort before the debate begins. Is there an incongruous aspect to watching a bishop tell lies non-stop?
When Republicans ask their own children: “Do you use dope?” do they really want to see an example that their offspring can fib as blithely as the bishop does? Shouldn’t they just look for needle tracks on the inside of the elbow area of the kids’ bodies?
Did Mitt really win a Medal of Honor in Vietnam while serving a tour of duty under an assumed identity?
What’s not to love about a California ballot proposition that does the exact opposite of what it sounds like it will accomplish?
Read More @ OpedNews.com

SOLA 4.1 Psychological Control 

from TruthNeverTold :

US Gov’t Terrorist Identification Chart

from, ZenGardner.com

Bailing Out Spain, an Update – The ‘Cheap Version’ or ‘Virtual Credit’

by Pater Tenebrarum, Acting-Man.com:
EU Grappling With Keeping Bailout Costs Down

Over the past week it has become increasingly clear how exactly the EU wants to avoid a costly bailout of Spain, while still enabling Spain’s government to apply for ESM aid and become subjected to ‘conditionality’ and ‘troika’ supervision.
The latest idea is that Spain will simply apply for a ‘precautionary credit line’ from the ESM that is only going to be activated in case of dire need. This application will then enable the ECB to begin with its OMT bond manipulation scheme. In short, the EU wants the ECB to finance the bulk of the bailout.
The WSJ reports:

“Spain is considering a request for a line of credit from the European Union’s new bailout mechanism, a senior Spanish Finance Ministry official said Monday, giving the first details of the country’s plans for seeking help to avoid its debt problems spinning out of control.

Read More @ Acting-Man.com


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Jim’s Mailbox

October 21, 2012, at 1:02 pm
by Jim Sinclair

Dear Jim,

I’ve been following, with interest and immense desire for understanding, your posts on how the gold dealers work. I’m an F student because I don’t trade spreads, short, "margin up the the ass?" I’m long physical only, no margin, no shorts, no spreads, no paper, period end of story. Perhaps I’m a fool. Why? because of two parts of my character that I have found continual reinforcement from your relentless posts in the past. 
"There are two lessons here:"
1. You must have a mercantile sense. (my very humble interpretation: you must have the balls to weather a storm if you have the conviction of your position during the battle)
2. If you margin (now) you will be killed.
For me, the waterfall cram downs look like not so quiet acts of desperation. An attempt to sway the positions of holders with no resolve. In fact, I don’t think I’ve ever had a position that has trended up, with as much resolve, after a cliff dive. I love it, Cram it down you MF(g)’s (pun intended) it’s going right back up. And it does, and my mercantile sense says it will continue to. Why don’t people see this?
Thanks Jim, you are a light house in a raging storm.
PS: wish I could be in Sharon/Lakeville now, my favorite time of year there.
Always your friend,
CIGA Bob

Dear Bob,
My goodness, you read it wrong! I am telling how the trade works to enforce the fact you cannot compete against it. I have assured you that these traders using the same devices will be on the bullish side. The mistake all the gold and silver guys, and commentators make is to assume that the biggest, boldest and most illegal in markets are stupid. Hold your insurance. Right will overcome might because might wants money only. The trade has no principles and its sociopathic operators neither opposes nor supports anything because they have no feelings. As an example, it is my conclusion that those who are short of me, will be long me, because I am right. I refuse to talk down to you, but encourage you to pull yourself up by simple definitions of words. You can’t be that lazy that you will not clear misunderstood words. Try what I advise and you have learned how to fish. I am not a charitable institution giving fish away. Do the work, just define the words you read and become the master yourself. Do this with every subject at hand, and watch your life change.
Stop foolish speed reading. Speed reading will make an idiot out of you. Clear the words, never ever pass a misunderstood word and you will remember what needs to be known when your emotions well up.
Simplicity overcomes all complexity including algorithms. Use those to your advantage.
Because of fear, emotions overrun intellect and people run away from the perceived pain as the act of a mad person. This is not a logical choice of fight or flight. It purely a reaction that at BEST has a 50/50 chance of being right. It usually is dead wrong.
Regards,
Jim



Jim Sinclair’s Commentary
CIGA Richard S nails it again. A few days could be just before election


Jim,
What a week!
Gold ended down about 2% on the week and Silver down 4%, with Gold sitting right on its 50-day MA and Silver just below its 50-day MA.
For those who are ‘bloodied but unbowed’ expect Monday to be ugly too! The spec sheep will run to the wrong gunnel of the boat, and Gold may drop to ~1700 and Silver to ~31-31.50.
BUT the END is near… it’s just NOT the end you’d expect. The trade will reverse in a few days and Gold will chase 1800 and Silver 36, ultimately moving higher still. It’s fairly predictable, and many will get ‘caught’ wrong-footed and on the wrong side of the boat. The trick is to remain calm, stay relaxed, and ignore the short-term ‘noise’ (remember Kipling said something about keeping your head when all about you are losing theirs).
I am staying long, and playing the LONG game to the end. The SHORT term pain will eventually be over with.
1. Gold cannot be printed. Not like prettily engraved linen strips nor electronic bytes of 101010101010.
2. Gold is the direct reciprocal of faith and trust in Central Banks.
3. Now even Central Banks distrust one another.



CIGA Richard S

 

Change In Spread Management By Bullion Banks Will Send Gold Prices To $3,500-12,400 Says Jim Sinclair

October 21, 2012, at 12:49 pm
by Jim Sinclair

Jim Sinclair’s Commentary

Here is the message of the article that I wrote to you on spreads.

Change in spread management by bullion banks will send gold prices to $3,500-12,400 says Jim Sinclair By: Peter Cooper, Arabian Money
– Posted Sunday, 21 October 2012
‘Mr. Gold’ of the 1970s, Jim Sinclair, the one-time adviser to the Hunt Brothers who cornered the silver market then is flagging up an imminent change in the way the bullion banks manage their spreads, something he feels is inevitable from his own long experience of the business.
In his latest missive, Mr. Sinclair explains: ‘You must note how central banks are either buying or protecting their gold reserve positions now. This is total about face two years ago. There is another change coming which is a replacement monetary system and the need for some asset on central bank’s balance sheets to have positive value, especially in the USA. Soon all that is required is a change in spread management by the gold banks and you will have whatever price the gold banks want from $3,500 to $12,400.’
Spread management
Spread management is rather technical for non-industry specialists. This is the profit per ounce when gold is sold, and the bullion banks juice this profit by taking both long and short positions in the marketplace to improve their real profit.
What Mr. Sinclair foretells is an upcoming move by the bullion banks to dump their short positions and go fully long, remembering how it worked for him at the top of the 70s’ bull market. At that time he instructed his team: ‘Take every short off the spread making us naked long. This was when the gold price broke $400 the second time over, running like a bunny to $887.75.’
Right now the preoccupation in the bullion market is over a short-term correction, and the more alarming potential for a repeat of the 30 per cent price crash of 2008-9. Mr. Sinclair seems to be hinting that this will provide precisely the environment for the shedding of shorts and the creation of long-only positions in the market.
Golden truth
As he explains: ‘Here comes the ‘Golden Truth’. When the gold banks perceive that the gold market is about to go ballistic, just like any bull market does, they need only reverse the strategy in place from $248 called ‘The Weak Gold Policy’ in how they handle the 75 per cent risk-less spread. Now when gold falls you take off the short aside of the spread with gusto and let the long run.’
That would set gold up for a spectacular rebound. A bounce from say around $1,600 to $3,500 would indeed by very much like the top of the 70’s gold market. That said Mr. Sinclair is also on the record as stating that the ascent of the gold price would be far more permanent than it was then with gold becoming a part of the global currency system again.
Let’s give him the final word: ‘Soon all that is required is a change in spread management by the gold banks and you will have whatever price the gold banks want from $3,500 to $12,400.’
More…

In The News Today

October 21, 2012, at 12:39 pm
by Jim Sinclair

Jim Sinclair’s Commentary

This applies to the gold market as well as life in general.

"Obstacles that come in the way are often treated with a certain amount of resentment by the pilgrims on the spiritual path. But these tests are to be treated as a means of ensuring safety. You drive a nail into the wall to place a picture thereon; but before hanging the photo, you try to see whether the nail has been well driven by shaking it; when you are certain it does not move a bit even when all your strength is used, you have the confidence to hang the picture on it. You must welcome tests because it gives you confidence and it ensures promotion." –SSB, Sep 8, 1966.


Jim Sinclair’s Commentary

In the USA a "suspicious transaction report" finds its way via the Fed to the IRS. That is just as good as a ban.

Large Cash Transactions Banned In Mexico
Outgoing Mexican President Felipe Calderon has signed into law a ban on large cash transactions. The ban will take effect in about 90 days and it is part of a broader effort to control monetary flows within the country.
Under the law, a Specialized Unit in Financial Analysis operating within the Attorney General’s Office will be created to investigate financial operations “that are related to resources of unknown origin.”
For real estate transactions, cash payments of more than a half million pesos ($38,750) will be forbidden and, for automobiles or items like jewelry, art, and lottery tickets, cash payments of more than 200,000 pesos ($15,500) will be forbidden. The law carries a minimum penalty of five years in prison.
In 2010, Mexico instituted strict limits on foreign exchange cash transactions to $1,500 per person per month, which caused several cash dollar exchanges to withdraw from the business and had the effect of penalizing tourists.
Of course, US dollars are a huge portion of the actual paper cash that this effort is aimed at, but the Mexican peso is the 12th most traded currency in the world and by far the most traded currency in Latin America.
More…



Jim Sinclair’s Commentary

Cling to logic, do not give in to emotions and look out the window. You will always get the right answer.



Jim Sinclair’s Commentary

Do you really believe you are safe from this in North America?
Police protection or citizen censorship?
Spain to ban photos and videos of cops



Spain’s government is drafting a law that bans the photographing and filming of members of the police. The Interior Ministry assures they are not cracking down on freedom of expression, but protecting the lives of law enforcement officers.
­The draft legislation follows waves of protests throughout the country against uncompromising austerity cuts to public healthcare and education.
The new Citizen Safety Law will prohibit “the capture, reproduction and editing of images, sounds or information of members of the security or armed forces in the line of duty,” said the director general of the police, Ignacio Cosido. He added that this new bill seeks to “find a balance between the protection of citizens’ rights and those of security forces.”
The dissemination of images and videos over social networks like Facebook will also be punishable under the legislation.
Despite the fact that the new law will cover all images that could pose a risk to the physical safety officers or impede them from executing their duty, the Interior Ministry maintains it will not encroach on freedom of expression.
More…




Gold’s New Battle With $1,764 October 20, 2012
Disclosure: I am long UGL. (More…)
Back in February of this year, I wrote "The State of the Gold Bull and the $1764 Price" here at Seeking Alpha. It was an explanation of the significance of Gold at $1764 per the analysis of Jim Sinclair, thought by many to be the most accurate forecaster for gold on earth. This reputation is impressive as it spans not only the current bull market but the one in the ’70s as well. To go over his remarkable calls of the past, you can peruse my February article. Here, I will just look at where we are now in Sinclair’s amazing projection.
In the above article, I was anticipating a major resistance developing to block gold’s rise at this critical swing point of $1764 because Sinclair had predicted just this development clear back in July, 2011 – way before gold had gone anywhere near this level! In my February article’s linked post at my blog ("$1764 Update" from November, 2011) my thought then was:
I somehow suspect we’re going to get maybe one more knock down to the 140 ema area and maybe a scary break of it before we’re through…
And that’s been exactly the storyline on gold since then – the big scary 200-day moving average breakdown. This filled the web with stories about the end of the gold bull market. In a picture, this is what happened:



We did indeed get not one, but many smackdowns from what now has become just what Sinclair said it would be – the biggest resistance point of the entire bull market. Those who point to price manipulation (including Sinclair) suggest that the upcoming election will have the manipulators trying to keep gold tame with maybe another smackdown over the next month or two. Those who favor a low gold price favor Ben Bernanke and a continuation of current policies. A new administration would not effectively change these policies in my opinion, but the threat is there.
More..




Jim Sinclair’s Commentary

With all the pre election total lies about the nicely recovering housing market, please take a look at the prices of houses.
When will the sheeplez wake up?




Jim Sinclair’s Commentary

When your emotions scream at you because you do not understand the actions of the gold industry trade, read some well presented simple logic by a man who has made his mark in the markets of monetary science.

Bill Gross: Buy Gold, Beware US Bubbles by MoneyMorning on 20 October 2012
America’s ‘bond king’, Bill Gross, is so worried about bonds that he’s looking to invest in stocks and gold instead. In a recent CNBC interview, the co-founder of Pimco, the world’s biggest bond fund, said that both stocks and US Treasuries are ‘a bubble’.
‘High prices for both are a function of the Fed writing cheques of hundreds of billions of dollars.’ Gross says he prefers stocks – especially high quality shares with yields of at least 3%. ‘In terms of yields, those types of stocks are giving you a lot more than ten-year Treasuries.’
Even more attractive though, says Gross, is gold. Throughout his career the 68-year-old investor has never been too bullish on gold. But Gross says that the massive quantitative easing (QE) programmes taking place around the world leave him with no other choice.
‘In the immediate future it’s hard to know if the current gold price is the ‘right’ one”, says Gross. ‘But, given the negative real interest rates you get for holding the dollar, gold is the favoured alternative.’ It’s all about preserving the real value of your wealth, says Gross. ‘For those investors who are looking to protect themselves from inflation then gold is a serious hedge.’
Gross also batted off speculation in the American press that the gold price would fall if Mitt Romney – who has promised to sack “money-printing” Fed chairman Ben Bernanke – wins next month’s presidential elections. ‘The Republican party has never really favoured tight money. Neither party has. Unfortunately I don’t see either nominee bringing new ideas or making radical changes that would affect the market.’
More…

 

In The News Today

October 20, 2012, at 11:13 pm
by Jim Sinclair

Jim Sinclair’s Commentary

Iran knows how to play its cards to buy time for whatever project they have.




U.S. Officials Say Iran Has Agreed to Nuclear Talks By HELENE COOPER and MARK LANDLER
Published: October 20, 2012
¶ WASHINGTON — The United States and Iran have agreed in principle for the first time to one-on-one negotiations over Iran’s nuclear program, according to Obama administration officials, setting the stage for what could be a last-ditch diplomatic effort to avert a military strike on Iran.
Iranian officials have insisted that the talks wait until after the presidential election, a senior administration official said, telling their American counterparts that they want to know with whom they would be negotiating.
News of the agreement — a result of intense, secret exchanges between American and Iranian officials that date almost to the beginning of President Obama’s term — comes at a critical moment in the presidential contest, just two weeks before Election Day and the weekend before the final debate, which is to focus on national security and foreign policy.
It has the potential to help Mr. Obama make the case that he is nearing a diplomatic breakthrough in the decade-long effort by the world’s major powers to curb Tehran’s nuclear ambitions, but it could pose a risk if Iran is seen as using the prospect of the direct talks to buy time.
It is also far from clear that Mr. Obama’s opponent, Mitt Romney, would go through with the negotiation should he win election. Mr. Romney has repeatedly criticized the president as showing weakness on Iran and failing to stand firmly with Israel against the Iranian nuclear threat.
More…


Jim,
The red line on the Iran Nuclear program has been set.
Best regards,
CIGA Christopher

French FM: Iran appears on track to reach nuclear weapons capability by mid-2013 Published October 21, 2012
Associated Press
PARIS –  France’s foreign minister says Iran appears on track to reach the ability to produce a nuclear weapon by the first half of next year.
France is one of six countries that have negotiated with Tehran over its nuclear program, which Iran insists is peaceful.
Foreign Minister Laurent Fabius told Europe-1 radio Sunday that unspecified experts "have established in an absolutely indisputable way" that Iran has compiled a full array of centrifuges that "apparently will allow the ability to go toward possession of the nuclear weapon by the first half of next year, the end of the first half." He did not elaborate.
Western nations fear Iran may turn its uranium enrichment program toward making weapons, a growing concern as Tehran expands the number of machines it uses to enrich uranium.
More…


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