Santa Out In Front

Tue, Jan 31, 2012 - 9:01am

There has been a great discussion in the previous thread regarding the dire warning and interview that Santa gave to Ellis Martin yesterday. With apologies to those actively participating in it, I felt that it must be moved to its own thread.

Lots of folks come here simply to read the main page. As we all know, that's a big mistake. The true value of this site is in the wise and learned comments that are shared with each thread. The discussion regarding Santa is a perfect example. If you missed it, here is what all the hubbub is about.

First, on his site, Santa posted this last evening:

January 30, 2012, at 7:37 pm
by Jim Sinclai
My Dear Friends,
I was interviewed today concerning the most powerful body in the financial world that now holds in its hands the near future of all markets, from currencies to commodities, based on a single edict to be given.
The interview is being processed and should be posted here later this evening.
This organization supersedes all governments and central banks today in terms of the financial power they edict. This organization can have a greater impact on your pocketbook than the FASB did when they killed "true value" accounting.
This body is made up of the key players of the five largest banks in the USA and other countries. This body by their actions this week will guarantee QE to infinity.
This is relevant to all your assets, yes all. If you have the time listen to it please. If you don’t have the time listen to it please. If you don’t listen to it do not blame me when all hell breaks loose six months from now.
Not one word about this body was on the airwaves today, yet this group by a simple decision rules the financial plant. They will be making this edict in just a few days. They have to do it again this year. It is then that you know what will hit the fan.
I feel this is it for tonight. I do not want to write another word and detract from the revelations you will hear.
Your financial future, even if you have never heard of them, is in this organization’s hands. Check in later for the interview. If you don’t check in your finances might just check out.
Please remember you have been informed of this impending edict as a service to the community.

As you might imagine, this got everybody's attention. We all sat around for an hour or two, waiting for the interview and then it was finally posted to the Ellis Martin YouTube channel. I will second Santa's sentiment...please take the time to listen to this today:

Breaking News Ellis Martin Report with Jim Sinclair

As we were debating what this all meant, I offered what I still think is a reasonably good explanation:

If I understand this right, here is what Santa is saying:

  • In 2008, AIG had sold CDS on CDOs. CDOs defaulted and AIG had to pay. AIG went broke. The counterparties to the CDS were GS, JPM et al and had to be made whole on their losses that they thought were insured by AIG.
  • US Govt funnels TARP cash thru AIG to GS, JPM et al to cover losses
  • IN 2012, Greece is about to default, just like the CDOs of 2008.
  • ISDA (run by Big 5 banks) declares that 70% haircut on Greek bonds is not a default.
  • Therefore, Big 5 do not have to pay off on CDOs bought by Greek bondholders. Big 5 off the hook.
  • Greek bondholders who thought they had principal insurance are now screwed and left holding the bag.
  • Greek bondholders (big Euro banks, big Euro govts, big hedge funds) will now be insolvent.
  • Greek bondholders will need massive capital injection.
  • Short term euro negative/dollar positive.
  • Regardless, lots and lots of money printing to save Greek bondholders.

Also, a significant part of Santa's warning is the timing. He seems to be saying that a decision regarding whether or not this is a "default" will be announced this week. Clearly, a market coming to terms with a massive, new money printing scheme to cover the bondholders will be a market that assigns the precious metals a much higher value in the weeks ahead. We will have to watch this very closely.

OK, have at it. Listen to the interview and discuss the implications in the comments. Learn from each other. Help each other. Prepare accordingly. TF

p.s. I believe that gold is popping this morning based upon this news:

Apparently, some are surprised that El Commandante was able to pull this off. At any rate, 160 tonnes in Venezuela means that as much as 16,000 tonnes has been removed from the LBMA/Comex paper regime. Ponder that one for a while.

About the Author

turd [at] tfmetalsreport [dot] com ()


Jan 31, 2012 - 9:20am

Helping Cdn shopper

I recommend Silver and Gold Maple Leaf coins. The 1oz Silver come in tubes of 25 and the gold 1oz come in tubes of 10 but you can buy a single coin at a time from most coin dealers. Do not buy commemorative sets unless you are really fond of the art.

I further recommend that you check every local coin shop for best price and develop a relationship. It may not necessarily be the cheapest way to do it but it is convenient and it's good to have the buy/sell relationship.

For silver bullion, consider going to First Majestic's website and buying direct from them. Reliable service at a reasonable price from the source however, these have no face value (like MapleLeafs) and would not be as readily accepted in the event of a world economic meltdown.

Only my opinion and an outline of how I've done it over the years. I own First Majestic stock and have no affiliation with the RCM.

Dr G
Jan 31, 2012 - 9:23am

Yes, Trader Dan says if 35

Yes, Trader Dan says if 35 falls it will be rapid to 40. Turk (who has been wrong on his timeline lots lately?) says if 37 falls we will shoot to 68-70 within months.

Perhaps both of these fine gents are correct.

Dark Matter
Jan 31, 2012 - 9:26am

What does this really mean?

I quote: Regardless, lots and lots of money printing to save Greek bondholders.

Does this mean that the DOW JONES, the FTSE and the DAX will skyrocket in a few months?

Boy, the "crash" is never going to come...

Warren Peace
Jan 31, 2012 - 9:29am

Simple Math From Santa

When one considers the massive notional value of all the CDS policies taken out on Euro debt, one can conclude how much QE will be needed to support the stunning losses that will be taken on the owners of that debt when those policies are determined to have no value.

We haven't even began to deal with the even larger debt loads here in the US....... falling of dominoes seems an appropriate analogy.

Jan 31, 2012 - 9:37am

Thanks again

It's been months since we've had a PM market that seems poised to get real exciting (to the upside) at any moment. Get ready for your jaw to drop.

Jan 31, 2012 - 9:39am

Im surprised at some Turds

wondering still who eats the poo-poo sandwich?


Its 'us' - the masses. Who else would it be - the CEO's, bankers...the elite? Isnt that the idea - for us to eat it?Its not for the big guys, but the commoner's - prepared by them... Mmmm...





Jan 31, 2012 - 9:45am

Prepare Accordingly...

I listened to the whole interview and am further strengthened to continue my trek towards being able to live without much outside support. I would encourage all of my fellow Turdites to do the same. No matter how much validity Santa's words may have the outcome appears to be a complete unwinding of the Great Keynesian Experiment.

This interview just gives words to what we all have been feeling for quite sometime. Ann Barnhardt began the last leg of the unwind by writing her get out of the market piece back in November when MFingG collapsed.

My resolve has not changed, my intentions are still the same, my plan is sound and my outcome is more predictable.

Can you say, Precious Metals, Bitchez?

Can you say, Canned Ham, Bitchez?

Can you say, Winter White Wheat, Bitchez?

Can you say, Bullets, Bandaids and Bacon, Bitchez?

I just wish I had insured with Torgerson's before the jon boat accident! My bad...somehow I will muddle through!!


Jan 31, 2012 - 9:47am

Re: Santa's interview

If and when the ISDA announce it is not a default (Greece) then all hell should break loose in the US$. This is not US$ friendly, it is loss of trust of the system. MF Global times 10!

Jan 31, 2012 - 9:49am
Jan 31, 2012 - 9:50am


He's being a bit hyperbolical by saying what do you call when they go to 0%. They won't go to 0%. They'll go to 1% then .1% but not 0%. Don't worry, everything is fine. /sarc

Subscribe or login to read all comments.


Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Key Economic Events Week of 8/12

8/13 8:30 ET Consumer Price Index
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Labor Costs
8/14 8:30 ET Philly Fed
8/14 9:15 ET Ind Prod and Cap Ute
8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

Key Economic Events Week of 8/5

8/5 9:45 ET Markit services PMI
8/5 10:00 ET ISM services PMI
8/6 10:00 ET Job Openings
8/8 10:00 ET Wholesale Inventories
8/9 8:30 ET Producer Price Index

Key Economic Events Week of 7/29

7/30 8:30 ET Personal Inc/Spending & Core Inflation
7/30 10:00 ET Consumer Confidence
7/31 8:15 ET ADP employment
7/31 2:00 pm ET FOMC Fedlines
7/31 2:30 pm ET CGP presser
8/1 9:45 ET Markit Manu PMI
8/1 10:00 ET ISM Manu PMI
8/2 8:30 ET BLSBS
8/2 10:00 ET Factory Orders

Key Economic Events Week of 7/22

7/23 10:00 ET Existing home sales
7/23 10:00 ET Richmond Fed Manu Idx
7/24 9:45 ET flash Markit PMIs
7/25 8:00 ET Count Draghi/ECB policy meeting
7/25 8:30 ET Durable Goods
7/25 8:30 ET Wholesale Inventories
7/26 8:30 ET Q2 GDP first guess

Key Economic Events Week of 7/15

7/15 8:30 ET Empire State Fed Index
7/16 8:30 ET Retail Sales and Import Price Index
7/16 9:15 ET Cap Ute and Ind Prod
7/16 10:00 ET Business Inventories
7/17 8:30 ET Housing Starts and Building Permits
7/18 8:30 ET Philly Fed
7/19 10:00 ET Consumer Sentiment

Key Economic Events Week of 7/8

7/9 8:45 ET Fed Stress Conference, three Goon speeches
7/10 8:30 ET CGP Hump-Hawk prepared remarks
7/10 10:00 ET CGP Hump-Hawk House
7/10 10:00 ET Wholesale Inventories
7/10 2:00 ET June FOMC minutes
7/11 8:30 ET CPI
7/11 10:00 ET CGP Hump-Hawk Senate
7/11 12:30 ET Goon Williams
7/12 8:30 ET PPI

Recent Comments

by Blackwatersailor, Sep 14, 2019 - 11:24pm
by lakedweller2, Sep 14, 2019 - 10:54pm
by Blackwatersailor, Sep 14, 2019 - 10:46pm
by NW VIEW, Sep 14, 2019 - 10:35pm

Forum Discussion

by NW VIEW, Sep 14, 2019 - 12:22pm
by Green Lantern, Sep 14, 2019 - 11:39am
by sierra skier, Sep 14, 2019 - 9:47am
by Green Lantern, Sep 14, 2019 - 9:08am
by HappyNow, Sep 14, 2019 - 7:26am
by Green Lantern, Sep 13, 2019 - 11:33pm