Jim,

This is quite funny that this man’s gold is missing in the mail. The royal canadian mint is missing theirs on an inside job.

CIGA BJS

Iranian wants his $18.5 bn back from Turkey
Wed, 29 Jul 2009 22:03:19 GMT

A Turkish lawyer has claimed that his Iranian client has transferred an $18.5-billion treasure from Iran to Turkey through courier services.

Senol Ozel told Turkey’s independent “Kanal D” channel that his client, “Esmael Safarian-Nasab,” is a respected Iranian businessman and has transferred the money to Turkey through legal means.

The container-load of US dollars and gold bullion was delivered to Ankara Customs Office on October 7, 2008, Ozel said.

He noted that the container contained $7.5 billion and 20 metric tons of gold.

In a recent speech, Turkish Prime Minister Recep Tayyip Erdogan had boasted of the huge fund transfer as an indictor of his government’s success in attracting foreign investment despite the economic downturn in the world.

Erdogan had not revealed anything about the origin of the wealth.

More…

Come on BJS,

You ripped off this fellow’s container didn’t you?!

Jim

Hi Jim,

Can you believe this BS? Banks want limits set on energy trading, with exemptions to their trades. Didn’t Goldman call $200 oil?

That rage you keep asking about, it’s here with me.

All the best,
CIGA Omid

Two leading investment banks embraced the US regulator’s plan for stringent caps on energy trading but insisted on maintaining exemptions from them.

Goldman Sachs, one of the top two banks in commodities, and JPMorgan, on Wednesday acquiesced to the Commodity Futures Trading Commission’s proposal to control the size of energy traders’ holdings on futures markets and in off-exchange venues. They said these limits should apply to the holdings of individual investors who trade commodities with banks and not to banks’ overall presence in the market.

More…

Dear Jim,

I have to say I’m stunned by the arrogance and stupidity of anyone who takes the position that the Chinese are "trapped" by their holdings of US debt instruments. (I have to take your word that there are miscreants stupid enough to espouse such a belief. I long ago swore off all Financial TV and most mainstream media because of what it was doing to my blood pressure).

First, in a world where there are $1.4 quadrillion in over the counter derivatives how hard do people believe it is to hedge an $800 billion position? I saw one recent commentary pointing out the Chinese government could simply take out non-recourse loans using the US Treasuries as collateral and use the proceeds to purchase natural resources, which is most likely in effect what they are doing.

Second, don’t these commentators recognize the disconnect between their smugness in describing the Chinese "trap" in owning $800 billion of US debt and their expectation that China and other foreign buyers will be willing to take on $2 trillion more US debt per year for the foreseeable future?

The Chinese will act intelligently in the interest of their people as they have for the past three decades. Indirectly, they will save what is left of our society by putting a stop to the insane machinations of our government. I don’t see any other way the self-destructive, sociopathic behavior of the financial establishment and our co-opted government can be stopped.

Best wishes,
CIGA Richard B

Dear Jim,

I keep asking myself this question – why would Jim focus on this MOPE concept so heavily? We all know it has been a constant swirl in the "spin" cycle ever since Clinton came to office and really started tinkering with the numbers. But that is the point in itself – each administration from Clinton till now has spun, pumped, controlled, shaved, rigged, wagged, covered, suppressed, changed, reconfigured, etc. in order to MOPE their administration just over the bar into the land of legacy and library

CIGA Ken

Dear Ken,

MOPE is an economic philosophy. Spin is a tool of MOPE.

Jim

Jim,

You wrote about Goldman talking their book for the Euro. That’s a real shocker. Talk their book to control the Euro, which sets up the USDX swaps on the Fed’s books.

Operation control the dollar’s decline:

Euro comprises 57% of the USDX.  Control the Euro to control the USDX.

Still within circle 1 of the dollar which equates to chop in gold.  Soon that will change and gold will lead the way.

CIGA Eric