Dear Jim,
A century ago Rudyard Kipling wrote a poem that foresaw the decline of the empire of his country, Great Britain. Kipling’s poem attributed this decline to the loss of the old virtues, the virtues that were listed at the top of the pages in the special notebooks, called "copybooks," that were given to British [...]

Dear Jim,
The FDIC closed another five banks on Friday 11/6/09. I find the details of the closings more interesting than the number of banks closed, though both figures are quite sobering.
The largest bank closed was United Commercial Bank of San Francisco, California, which had (according to the FDIC’s Press Release) 63 branches in California, China [...]

Jim,
More and more countries are getting frustrated with the U.S.
U.S. international influence is losing ground very, very quickly.
After Pakistan, Israel, Japan, China, now we have the Arab league. And at a certain point Europe (disagreement on financial regulation and executive bonuses).
The reasons for this frustration are various: economical, financial, geopolitical.
Unless President Obama change radically [...]

Dear Jim,
How do the majors seem to survive covering short of gold derivatives without going broke?
Why did they wait so long?
CIGA Arlen
Dear Arlen,
Have you not seen that each of the majors experiencing this do two things:
1. They sell everything they have that is not in full production.
2. They float major bond deals to fill the [...]

Jim,
Here is an interview with Nomi. What an eye opener. Thank god we learned about gold long ago from you who understood it all long before these people had the guts to warns us. Way too late now Nomi, but thanks for the tally.
CIGA BJS
Click here to view the interview…

Jim,
Rogers contradicts Roubini. Rogers believes commodities [...]

Jim,
The action in the bond market warrants comment.
Long Bonds – The Canary in the Coal Mine By Eric  11/02/09
Let’s not forget long bonds (TLT), a.k.a. the canary in the coal mine.  The consolidation pattern since June 09 appears to be failing to the downside.  The June 09 low, which also happen to [...]

Dear Jim,
CMBS and pay-option ARMs are decimating financial companies’ balance sheets. Government players are fully aware but justify the white-wash as Manipulation of Perspective Economics.
The property headlined in this article reportedly sold for $5.4 billion in 2006 and is now valued at $1.8 billion. I only pray it’s a misprint.
Respectfully yours, CIGA Richard [...]

Jim Sinclair’s Commentary
Here is an important opinion that should be given serious consideration.
Dear Jim,
I doubt the Chinese will allow meaningful appreciation of their currency under the current dollar system. I propose that they are way too smart to do that. Revaluation of the Renminbi forces the Chinese to bear the brunt of what Fieldstien referred [...]

Jim,
In response to Ira’s comments…
The US devalues, which in essence devalues the Renminbi. This leaves the European exporters bearing the brunt of the dollar devaluation.  As their slice of the exporting pie begins to shrink, they naturally complain. Rumblings about competitive Euro devaluation begin to emerge. Even if a Euro is weakened, how long will [...]

Jim,
I adjusted the chart.
There is good cause to expect silver to move (and lead) here and now, or it could be delayed a little longer. Either way, the acute attention directed towards silver price manipulation becomes a little less important when viewed within the context of the long-term trend.
CIGA Eric
Click chart to enlarge in PDF [...]