Jim Sinclair’s Commentary
23% of all US mortgage holders are underwater as the sale value of their property falls below the cost of settling their mortgage. That means Negative Equity.
Strategic Walk Away is becoming common.
Drain what? Are you kidding?
One in Four Borrowers Is Underwater By RUTH SIMON and JAMES R. HAGERTY
The proportion [...]

Dear CIGAs,
Today’s attack on gold and buying of the dollar was like a recent polar bear attack on a tourist in Churchill, Canada’s far north.

Jim Sinclair’s Commentary
Grabbing at straws? A sign of concern? A guarantee of QE to infinity?
Federal Reserve tries theater ads to burnish its image Spots urging shoppers to [...]

Jim,
This article describes some flaws of the CDS contracts as well as first test settlement as companies start to have debt problems.
Best regards, CIGA Christopher
Dear Christopher,
Weapons of mass financial destruction remain weapons of mass financial destruction regardless of whether they are wearing a suit over jeans.
Regards, Jim
Default Swap Reforms Roiled as [...]

Dear CIGAs,
What is the essence of the Dubai request for debt payment delay (a technical default)?
1. Will an implied Dubai Federal Guarantee of the debt of state owned corporations be honored in Dubai and elsewhere?
2. How many more financial problems are there out there hidden in plain view in the West as well as the [...]

Dear Friends,
Overnight news out of Dubai has sent global equity markets reeling and generated a safe haven flow into the US Dollar as carry trades are unwound and a flight away from risk occurs. Dubai has asked for a 6 month moratorium on its debt obligations, which for all practical purposes is a type of [...]