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So much for regulation – or should I say lack of regulation.  Here are some important comments by Jim Sinclair on the blatant and daily manipulation of gold and silver on the COMEX by the crooks at JPM and HSBC.  Perhaps it’s inappropriate to call them “crooks” since the so-called regulatory agency, the CFTC, never calls them to task for this blatant manipulation.

Jim’s Mailbox

December 11, 2012, at 12:21 pm
by Jim Sinclair


It is becoming clear that it’s not just another silly rule, but a LAW like gravity. I refer to the now routine morning market ‘cram-down’ of the precious metals by the Cartel.

OK, if all you see with your nose pressed against your monitor are the nanosecond-by-nanosecond criminal/fraudulent activity I can easily understand losing sight of the BIG picture for gold/silver vs. dollar-denominated nominal assets. After all, that IS exactly the point. Ignore the long-term and focus on the short-term. One is SUPPOSED to miss the point while the Cartel continues to run the table.

This is what happens when there is no longer any rule of law, but only ‘rules’ under a corrupt Wall Street kleptocracy. This is also a fantastic opportunity to dump paper fiat and acquire physical assets. Hard assets, whether in your hand or in the ground.

Of course, the Swiss-watch precision of the market shenanigans and the FOMC meeting (and Wednesday’s anticipated announcement) are merely coincidental, right?

Wink, wink; nudge, nudge.

CIGA Richard S

This week we received two Telemarketing calls asking for a donation.  One was for children with cancer and the other was for money to benefit veterans.  My wife asked the solicitors, “How much of my donation goes to the charity?”  In both cases, they answered that most went to fund the charity and not to the people they were soliciting the funds for.  Then they hung up because they knew she understood their game.  How low can people get.  You should do what Susan does – ask the Telemarketers how much they make out of the pledge they want you to make.

Everywhere you turn, someone is out to scam you.  Hey, if our bankers and politicians get off Scott-free every time they screw someone, I guess it’s open season on all of us all of the time.  “Do the crime and do the time” no longer applies.  At least not for the rich and powerful.  Check this out if you think I am exaggerating:

Jim’s Mailbox

December 11, 2012, at 12:21 pm
by Jim Sinclair

Hostess Maneuver Deprived Pension


Yet another pension to be transferred to the pension benefit guaranty corp?

Headline:   Hostess Maneuver Deprived Pension

Hostess Brands Inc. said it used wages that were supposed to help fund employee pensions for the company’s operations as it sank toward bankruptcy.

It isn’t clear how many of the Irving, Texas, company’s workers were affected by the move or how much money never wound up in their pension plans as promised.

After the company said in August 2011 that it would stop making pension contributions, the foregone wages weren’t put toward the pension. Nor were they restored.

The maker of Twinkies, Ho-Hos and Wonder Bread filed for bankruptcy protection in January and shut down last month following a strike by one of the unions representing Hostess workers. A judge is overseeing the sale of company assets.

Gregory Rayburn, Hostess’s chief executive officer, said in an interview it is “terrible” that employee wages earmarked for the pension were steered elsewhere by the company.

Source:  more


This week the Justice Department declined to bring criminal charges against any officers of HSBC, the biggest short in the gold market, upon the bank’s agreement to pay nearly $2 billion in fines for laundering $881 million in Mexican and Colombian drug gang money. The Justice Department also accused HSBC of doing business with customers in Iran, Libya, Sudan, Burma, and Cuba in violations of sanctions law.

So how many bankers went to jail?  The usual number, NONE.  The US Government pocketed the billion + dollar fine.  It will make a dent in the Trillion + deficit this year.  Ya got the money, you get off without doing the time -unless you are an outsider like Madoff. Hillary Clinton makes $100,000 on inside trading and nothing happens – Martha Stewart goes to jail.  Timothy Geithner doesn’t file his tax returns and Leona Helmsley goes to jail.

Justice; check out the jails and that’s what you’ll find, “Just Us!”  For the most part, the TBTF bankers, Wall Street executives and ranking politicians are immune from prosecution.  I’m still waiting for John Corzine and Hank Paulson to turn in their Armani suits for prison pin stripes.  But they are Goldman Sachs alum and it will never happen.

The Federal Reserve creates money out of thin air by the Trillions and that’s O.K., but Bernard von Nothaus, creator of the Liberty Dollar, will soon go to jail for minting and distributing a form of private money.

I wonder how long it will be before The State comes after the newsletter writers like our writers and the people we quote whose only crime is to tell the truth.  Bob Chapman and Jim Willie left the country because they were worried that the government would prosecute them for their views.

Our Constitution is withering away and so is our guarantee of freedom of speech.  Try speaking up in a demonstration against the Wall Street bankers or try heckling a ranking member of the Administration and see what happens.  Better yet, don’t.  And don’t you dare take a picture of the police abusing a “perp.”  Just stay home, keep your mouth shut and pretend that you can pay for the necessities of life with the Late Great U.S. Dollar.  Hyperinflation is only 18 months away, if you give John Williams credit for knowing what he is talking about.  I do.

Notice the gravestone with the obituary of the U.S. Dollar on the cover of The Triumph of Gold, written in the mid-1980s by the late Franz Pick.  This is a great book, which by the way, you can still buy on Amazon for as little as $6.50.  I recommend it highly.  I still use his quote, “The dollar is a certificate of guaranteed confiscation.”  30 years ago, Dr. Pick could see the end of the Dollar and wrote about it.  Can you see it?  It’s carved in stone and the day-to-day market moves and headlines are nothing but a distraction from the inevitable.