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Jim Sinclair’s Commentary
Clearly the nukes are at risk, but so are those with the knowledge and the means of production.
The anti-Americanism is high in Pakistan and many will see this as an invasion of sorts.
US, Pakistan negotiate nuke security deal: report
WASHINGTON — The United States has been negotiating highly sensitive understandings with the Pakistani military about the security of Pakistan’s nuclear arsenal, investigative journalist Seymour Hersh reported in the latest issue of The New Yorker magazine.
The journalist wrote that during meetings with current and former officials in Washington and Pakistan, he was told that the agreements would allow specially trained American units to provide added security for the Pakistani arsenal in case of a crisis.
At the same time, the Pakistani military would be given money to equip and train Pakistani soldiers and to improve their housing and facilities, the report says.
The principal fear was that extremists inside the Pakistani military might stage a coup, take control of some nuclear assets, or even divert a warhead, Hersh notes.
The Pakistani nuclear doctrine calls for the warheads and their triggers to be stored separately from each other, and from their delivery devices.
Jim Sinclair’s Commentary
Pakistan gets hotter every day.
It does not look like the increased military activity had the desired result.
12 Dead Including Mayor in Pakistan Suicide Bomb Attack
By VOA News
08 November 2009
Pakistani officials say a suicide bomber struck a crowded market Sunday in northwest Pakistan, killing an anti-Taliban mayor. At least 11 other people were killed in the blast and dozens were wounded.
Initially, Mayor Abdul Malik was reported to have survived the Sunday morning attack in the Matni area on the outskirts of Peshawar.
Officials say Malik, a former Taliban supporter, had switched sides and raised a militia to fight the Taliban. He had survived several attempts on his life since shifting his allegiance.
The market was crowded with shoppers and goats. The goats were being sold to to celebrate the upcoming Muslim festival of Eid.
Earlier, Pakistan’s military said 12 militants were killed in its ongoing offensive against Taliban insurgents in South Waziristan near the Afghan border.
Jim Sinclair’s Commentary
Japan looks to China for its future.
Japanese FM says no base deal during Obama visit
By YURI KAGEYAMA (AP) – 6 hours ago
TOKYO — Japan’s foreign minister said Sunday that no deal on relocating U.S. troops on the southern Japanese island of Okinawa can be expected during President Barack Obama’s visit this week, saying the issue needs more time to resolve.
Obama is scheduled to arrive Friday, and a meeting with Prime Minister Yukio Hatoyama is on the agenda. Foreign Minister Katsuya Okada said Sunday on TV Asahi that "an agreement between the heads of state holds heavy meaning," but cannot be expected to be completed during Obama’s visit.
Washington and Tokyo agreed in 2006 that the Marine airfield in Futenma, a crowded city on Okinawa, would be relocated to another part of the island. But Japan’s government changed after August elections, and Okinawans have pushed to move the base off the island entirely.
The new administration is pushing for a slightly more assertive Japan, and Hatoyama has said he wants to resolve the base issue more democratically than previous governments and wants to win the support of Okinawa.
Okinawa residents have long been concerned about base-related crime, noise and environmental damage.
On Sunday, thousands gathered to protest in Nago city on Okinawa, the most likely site for the troop transfer, police said.
Jim Sinclair’s Commentary
China is using every means to corner the raw materials of the planet.
They know what has happened. They know what it means. They will be prepared for currency Armageddon when it occurs.
The West is sitting by sucking its thumb.
Would it not be classic if Jinchuan bought Barrick’s nickel assets that are being sold in my opinion because of derivative losses on cover.
I met today with a man totally familiar with what happened in Russia when the Ruble imploded.
That was over a period of days where class positions shifted dramatically based on whether or not you took simple precautions.
The dollar’s problems are day by day increasing the Federal debt. That results in the dollar drooping on balance, but slowly so far since USDX 120.
When the real dollar break comes it will, as Armstrong has written, be violent and fast. Have you taken the simple precautions?
Chinese premier pledges funds, aid to Africa
By TAREK EL-TABLAWY
AP Business Writer
SHARM EL-SHEIK, Egypt (AP) — China’s premier on Sunday pledged $10 billion in new low interest loans to African nations over three years, offering the beleaguered continent sorely needed cash while dismissing criticism that Beijing’s motives in Africa are far from altruistic.
Wen Jiabao’s promise at the start of a two-day China-Africa summit was warmly received by African leaders and officials, most of whose nations confront a miasma of despair further accentuated by a global financial crisis that is only now showing signs of abating.
"The Chinese people cherish sincere friendship toward the African people, and China’s support to Africa’s development is concrete and real," Wen said at a forum that attracted leaders such as Sudan’s Omar al-Bashir – who faces an international arrest warrant – and Zimbabwe’s Robert Mugabe. Both are heads of state out-of-favor with the West.
Wen said China wants to help Africa build its financing capacity and would provide $10 billion in concessional loans – ones with generous terms.
As part of an eight-point plan, he said China would also forgive government debts of the poorest African nations that have relations with Beijing and would build 100 new clean energy projects for the continent. It would also gradually institute a zero-tariff policy on 95 percent of goods from some of the poorest countries. All this would take place over three years.
Jim Sinclair’s Commentary
To avoid unnecessary work this copy should be filed for use on all 6 upcoming stimulus bills
Locke Was ‘Imprecise’ in Comments on Second Stimulus (Update1)
By Pimm Fox and Mark Drajem
Nov. 2 (Bloomberg) — Commerce Secretary Gary Locke was “imprecise” when he said President Barack Obama’s advisers are considering a second stimulus measure, his spokesman said today.
Locke, in an interview with Bloomberg Television, said: “If there is to be another stimulus — and that’s being hotly discussed and very seriously considered within the administration as well as members of Congress — it needs to be very targeted, very specific and we need to be very mindful of the deficit as well.”
Kevin Griffis, a Commerce Department spokesman, said in a telephone interview after Locke spoke that the secretary was referring to “all the different job-creating measures being considered” by lawmakers rather than a single stimulus measure.
Obama signed into law a $787 billion economic stimulus package in February in response to the nation’s worst economic crisis since the Great Depression. The U.S. economy lost more than 7 million jobs since the recession began in December 2007 and the jobless rate rose to 9.8 percent in September.
White House officials have said the first stimulus package should be given more time to work before debating a second round.
Half of the current stimulus “is still working its way through the system by design,” Treasury Secretary Tim Geithner said in an interview with NBC’s “Meet the Press” yesterday. “I don’t think we need to make that judgment yet,” about whether a second stimulus is necessary, he said.
Jim Sinclair’s Commentary
The US offends it’s lender.
China censors parts of inaugural speech
By Edward Wong
Published: Sunday, February 1, 2009
BEIJING — President Barack Obama’s 18-minute inauguration speech Tuesday was generally lauded by Americans for its candor and conviction. But the Chinese Communist Party apparently thought the new American president’s gilded words were a little too direct.
China Central Television, or CCTV, the main state-run network, broadcast the speech live until the moment Obama mentioned "communism" in a line about the past defeat of ideologies. After the off-screen translator said "communism" in Chinese, the audio faded out even as Obama’s lips continued to move.
CCTV then showed an anchor asking an analyst about the economic challenges that Obama faces. The analyst was clearly caught off-guard by the sudden question.
The offending line was this: "Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions."
Later, the president said: "To those who cling to power through corruption and deceit and the silencing of dissent, know that you are on the wrong side of history, but that we will extend a hand if you are willing to unclench your fist."
Jim Sinclair’s Commentary
China has a planetary plan.
It would serve us well to read this and think deeply about it.
Full text of Premier Wen Jiabao’s speech at the Arab League
Following is the translated version of the full text of Chinese Premier Wen Jiabao’s speech delivered in Cairo on Saturday at the headquarters of the Arab League:
Respect Diversity of Civilizations
Speech by H.E. Wen Jiabao
Premier of the People’s Republic of China
At the Headquarters of the League of Arab States
Cairo, 7 November 2009
Your Excellency Secretary General Amr Moussa,
Your Excellencies Diplomatic Envoys,
Ladies and Gentlemen,
As-Salamu Alaykum.
I am delighted today to have the opportunity to meet you, diplomatic envoys and Egyptian friends from various sectors, here at the headquarters of the League of Arab States, symbol of the solidarity, unity and strength of Arab countries. On behalf of the Chinese government and people, I would like to pay high tribute and offer best wishes to all the Arab countries and people.
There is an Arab saying which goes, "Whoever drinks the Nile water is sure to come back again." Three years ago, right in front of the pyramid by the Nile, I joined people from Egypt and China in celebrating the 50th anniversary of diplomatic relations between our two countries. Today, returning to this beautiful land imbued with splendid civilization, I feel much at home.
China and Arab countries enjoy a time-honored friendship. Both sides went through tremendous changes in modern times and embarked on the road of national rejuvenation. Similar experiences and common pursuit of development have bonded us close together. Sharing weal and woe, we have tided over difficulties side by side and forged profound friendship. The Chinese people see the Arab people as good friends, good partners and good brothers. We rejoice at every success you have achieved on the path of development, and we warmly congratulate you on all your accomplishments.
The title of my speech today is Respect Diversity of Civilizations.
There exist diverse civilizations in the world, just like there are diverse species in the nature. The world today is home to over 200 countries and regions, more than 2,500 ethnic groups and 6,000-plus languages. As different musical notes make a beautiful melody, people of different ethnicities, colors and historical and cultural backgrounds have jointly made our world a splendid and colorful place. Dialogue, exchanges and integration among different civilizations form the powerful current of human civilization, surging ahead ceaselessly.
Jim Sinclair’s Commentary
These are the things that have the capacity of breaking confidence in a currency.
And Bernanke Didn’t Think Unemployment Would Reach 10%
by Mac Slavo
Friday’s unemployment report from the Bureau of Labor and Statistics is anything but a green shoot. The official U-3 unemployment number is 10.2%. The broader and more comprehensive official unemployment number, the U-6, is at 17.5%. The U-6 counts all the people that want a job but gave up, all the people with part-time jobs that want a full-time job, and all the people who dropped off unemployment benefits because their unemployment benefits ran out. John Williams at Shadowstats.com suggests that real unemployment is actually running at 22%, which, by our calculation, is approaching Great Depression unemployment numbers.
The unemployment report may come as a surprise to those who have been following the Obama administration and mainstream economists like Paul Krugman. Here are some choice quotes from those we’ve entrusted with our economy:
President Obama (February 13, 2009):
"That’s a story I’m confident will be repeated at companies across the country — companies that are currently struggling to borrow money selling their products, struggling to make payroll, but could find themselves in a different position when we start implementing the plan,” Obama said. “Rather than downsizing, they may be able to start growing again. Rather than cutting jobs, they may be able to create them again.”
Jim Sinclair’s Commentary
Ken Dress offers the following guidelines
GOLD Holding 201
(Students must have passed "Gold 101, the battle to 1000" in order to take the Gold 201 offering–
see your advisor if you think you can take gold 201 w/out the prerequisite)
Suggestions and preferred behavior for students
1. Do not run to the Professor and demand the answers, rather ask what should be studied in order to prepare oneself for examination.
2. Do not demand the quick explanation, please consult the body of material you have been given and make up your own reasoning. Ask for a review of one’s work.
3. Show proof when making your case before turning in an answer. Solutions without written proof will receive only partial credit.
4. Make sure your question has not already been asked and logged in the review materials. Double check all materials before posing a question.
5. Study with a like minded peer or group before a test.
6. Do not barge into the Professor’s office, wait for open office hours and then petition for assistance.
7. Make sure you are eligible to take the class, its early and not to late to drop. Consider auditing the class this time to familiarize yourself for next semester.
8. Seek out a tutor if you cannot keep up with the material.
9. If you are over your head in this class, admit it and move on to something more suited to your learning profile.
10. This class is pass/fail–trying too hard, panicking, or stretching to get a better grade will not help you–it can only endanger your ultimate grade.
This class meets regularly–please make good use of your time inside the classroom and out. Your own scholarship is encouraged and will be rewarded through discourse and ultimate mastery of the material.
Jim Sinclair’s Commentary
Remember the article, "When Push Comes to Shove?"
G20 leaves door open for fresh pressure on dollar
Sun Nov 8, 2009 4:37pm EST
By Andrew Torchia – Analysis
LONDON (Reuters) – The U.S. dollar may come under renewed pressure from emerging market currencies and the euro after a meeting of the world’s top finance officials failed to take concrete action on rebalancing global money flows.
Finance ministers and central bank governors of the Group of 20 major countries, meeting in Scotland at the weekend, launched a "framework" in which they will discuss how to reduce trade and savings imbalances between nations.
But their communique talked only in general terms about rebalancing economies, and implied they might not agree on specific policies for individual countries to adopt before the end of next year at the earliest.
The result may be a continuation of heavy fund flows into emerging markets, boosting currencies there. And central banks intervening to slow currency appreciation may keep investing much of the money they obtain in the euro, pushing up that currency too.
"We’re probably looking at fresh dollar weakness in the short term" in the wake of the G20 meeting, said Kenneth Broux, senior markets economist at Lloyds TSB.
Jim Sinclair’s Commentary
Wall Street IS the Sopranos
Insider trading case as much Sopranos as Wall Street
Thu Nov 5, 2009 6:59pm EST
By Steve Eder
NEW YORK (Reuters) – Zvi Goffer could have passed for Tony Soprano when he warned confederates in his alleged insider-trading ring that "someone’s going to jail."
Don’t be too obvious about making big money, he said in a cell phone conversation intercepted by investigators in February 2008.
"Someone’s going to jail, going directly to jail, so don’t let it be you, OK?" Goffer said, according to a criminal complaint. "That’s a ticket right to the (expletive) Big House."
According to federal prosecutors, Goffer was the boss of an insider trading operation that paid sources for non-public information. He and 13 others were charged on Thursday as the scandal centered on Goffer’s former employer, hedge fund Galleon Group, widened dramatically.
A criminal complaint naming Goffer, head of the trading firm Incremental Capital, and his alleged accomplices reads like a script for TV dramas like "The Wire" or "The Sopranos," in which drug and Mafia criminals try to stay one step ahead of the law.
