Ownership Submission

FORM 5

	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
	Form 3 Holdings Reported
	Form 4 Transactions Reported

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person ^*

WINMILL BASSETT STARR

2. Issuer Name and Ticker or Trading Symbol
GLOBAL INCOME FUND, INC. [GIFD]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	_____ 10% Owner
__X__ Officer (give title below)	__X__ Other (specify below)
Chief Investment Strategist / See "Explanation of Responses"

(Last)

(First)

(Middle)

11 HANOVER SQUARE

3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2011

(Street)

NEW YORK, NY 10005

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Reporting
(check applicable line)
_X_ Form Filed by One Reporting Person
___ Form Filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)	4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	12/31/2005		J5⁽¹⁾	68	A	$ 3.92	4,426	D
Common Stock	03/31/2006		J5⁽¹⁾	68	A	$ 3.98	4,426	D
Common Stock	06/30/2006		J5⁽¹⁾	71	A	$ 3.89	4,426	D
Common Stock	09/29/2006		J5⁽¹⁾	69	A	$ 4.04	4,426	D
Common Stock	12/29/2006		J5⁽¹⁾	67	A	$ 4.25	4,426	D
Common Stock	03/30/2007		J5⁽¹⁾	56	A	$ 4.06	4,426	D
Common Stock	06/29/2007		J5⁽¹⁾	58	A	$ 3.93	4,426	D
Common Stock	09/28/2007		J5⁽¹⁾	59	A	$ 3.95	4,426	D
Common Stock	12/31/2007		J5⁽¹⁾	59	A	$ 3.97	4,426	D
Common Stock	03/31/2008		J5⁽¹⁾	66	A	$ 3.95	4,426	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

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SEC 2270 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
WINMILL BASSETT STARR 11 HANOVER SQUARE NEW YORK, NY 10005	X		Chief Investment Strategist	See "Explanation of Responses"

Signatures

John F. Ramirez, on behalf of Bassett S. Winmill by Power of Attorney dated October 20, 2011.		01/27/2012
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Dividend reinvestment plan.
Remarks: The Reporting Person is an officer of the Issuer's registered investment adviser and its affiliates. He is a controlling person of Winmill & Co. Incorporated, the parent of the registered investment adviser. The Reporting Person is also a member of the Investment Policy Committee of the Issuer's registered investment adviser. The Investment Policy Committee manages the portfolio of the Issuer.

Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure.

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