I had the cataract surgery on the second eye yesterday afternoon. It was a total success. If you are even thinking about this procedure, stop thinking and just get it done. It will set you free. I will give away all my reading glasses this weekend!
I am only going to give you a short letter today – but I tell you, I can see the computer screen clearly, without any glasses, with either eye. I no longer take “perfect” vision for granted. I know what it was like to need “assistance” since my mid-40s. As blues icon B. B. King says, “If it weren’t for the blues, you wouldn’t know you were happy.” And I say, “If it weren’t for cataract surgery, I wouldn’t know how thrilled I am to have 20/20 vision.”
In today’s newsletter, Dave from Denver pens a short piece on the dangers of derivatives, especially interest rate derivatives in the LeMetropole Café section.
If you didn’t catch Holter’s outstanding article yesterday on the Miles Franklin daily newsletter on the hidden dangers of derivatives. Dave’s article adds an exclamation point (!) to Holter’s article.
I leave you with a simple thought – JPMorgan is capping gold and silver at $1,300 and $20. JPMorgan is LONG in both, to levels I can never remember. They will make a fortune when the market reverses and turns back up. So why, you should ask, are they holding the prices down?
It has been said for decades that JPMorgan is the government’s bank. JPMorgan will accommodate the Treasury and the Fed! Rising gold and silver is not what you want to happen if your best interest is served by a rising stock market, rising housing market, stable bond market, strong dollar and stable economy. Bernanke will do whatever he can to keep everything mentioned above in place until he leaves office, around the end of the year. I am not saying he will be successful, and there are numerous black swans lurking just out of sight that can change things in a hurry. But what I am saying is that JPMorgan will do the government’s bidding for now, and when they are free to make their own decisions, they will book the billions in profits that await them when they stop selling and start buying and PUSH the prices up. Once the upward thrust is set in motion, the panic short covering by the hedge funds will ramp the price up in the same rapid fury that it was when it was crushed over the last year.
I know most of you will not need this advice, but you should. If you have over $100,000 in bank accounts, please take note of Jim Sinclair’s numerous warnings below:
My Dear Extended Family,
Bail-In does not need a crisis environment to occur. It will happen without anything worse than the present happening.
Bail-In can easily be applied to banks and financial institutions that do not pass a Stress Test at the will of the Federal Reserve and State Banking Authority.
Bail-In means your assets will be confiscated for reasons I have labored over for over 5 hours at the six recent Q&A sessions.
Those that do not protect themselves from Bail-In will be involuntarily downsized in the “Great Leveling” that is planned to occur during August of 2014 and late 2015.
That does not mean you can wait until August of 2014 to prepare.
– jsmineset.com, July 17, 2013
It is already happening in Europe and is close to being implemented in Canada. It will visit the U.S. too. If you don’t mind being one of the sources of funding to bail out your bank, then simply go on as usual and ignore the warnings. It’s your money, about to become your banks money. Cyprus was the template. It’s all but a done deal.