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Goooooood Morning Fiatnam!

Friday, November 21, 2014

Tenn. Lawmakers move closer to Com.Core Repeal

http://www.foxnews.com/us/2014/11/20/tennessee-lawmakers-governor-move-closer-to-common-core-repeal/

Tennessee may be the next state to put the Common Core Educational Standards on the chopping block.
Two Republican state senators introduced legislation this week to repeal the national curriculum, a move that came on the heels of Gov. Bill Haslam calling for a public review of the English and math standards being pushed by Washington. The efforts show building momentum that could make the Volunteer State the third to opt out of the controversial program, which is aimed at establishing minimum national standards but has met with broad criticism from parent groups, conservatives and even some teachers unions. 

Mario Draghi: "Stronger recovery is unlikely in the coming months"

http://www.fxstreet.com/news/forex-news/article.aspx?storyid=78cc086a-4bd7-4f78-9cb2-cb48754f090b

- “Two and a half years ago, the euro area faced a very bleak situation. We had a fragmented financial system, a banking sector that would not lend and an economy in recession. European economies were on diverging but generally downward paths.”

- “Since then governments and the ECB have taken several steps to address fragmentation, and the financial situation in the euro area has improved dramatically. Spreads on government bonds have fallen on average by 3 percentage points. Interest rates on corporate and bank bonds have also converged substantially. “

The TechCrunch Bubble Index: Parsing Headlines to Quantify Startup Hype

http://toddwschneider.com/posts/techcrunch-bubble-index/

The TCBI measures the number of headlines on TechCrunch over the past 90 days that specifically relate to startups raising money. I defined a "startup fundraise" as one where the amount raised was at least $100,000 and less than $150 million. A higher TCBI means more TechCrunch stories about startups raising money, which might broadly indicate a vibrant fundraising environment. For example, a TCBI of 209 on November 16, 2014, means that there were 209 TechCrunch headlines about startup fundraises between August 19 and November 5, or 2.3 per day.

China rate cut

We look at what China did last evening with a surprise rate cut (google translated):

and we are reminded....

Deflation: Making Sure "It" Doesn't Happen Here

http://www.federalreserve.gov/boardDocs/speeches/2002/20021121/default.htm


Speaker Boehner Press Conference: Speaker Boehner's Response To Obama's Executive Action: "Acting Like A Teenager"

Things are about to get REAL INTERESTING in the PRECIOUS METAL MARKETS.

If we get a YES VOTE for the Swiss Gold Referendum... this should signal the end of U.S. Dollar hegemony. 
Furthermore, GFMS made two big announcements in its Silver Market Interim Report just released a few days ago.

http://srsroccoreport.com/silver-mine-supply-peak-2-3-years-lbma-inventory-draw-down-gfms/silver-mine-supply-peak-2-3-years-lbma-inventory-draw-down-gfms/


Gold Repatriation Stunner: Dutch Central Bank Secretly Withdrew 122 Tons Of Gold From The New York Fed

http://www.dnb.nl/en/news/news-and-archive/nieuws-2014/dnb315314.jsp

De Nederlandsche Bank (DNB) has adjusted its gold stock location policy and has shipped gold from the United States to the Netherlands to spread its gold stock in a more balanced way.
Under the previous policy, 11% of the gold stock was located in the Netherlands, 51% in the United States, with the remainder held in Canada (20%) and the United Kingdom (18%). Under the new policy, the breakdown by location is as follows: 31% in Amsterdam, 31% in New York, with the relative holdings in Ottawa and London remaining unchanged at 20% and 18%, respectively. Following this adjustment, DNB is in line with other central banks holding a greater part of their gold stock in their own countries. Beyond realising a more balanced distribution of the gold stock across the different locations, this may also have a positive effect on public confidence.
Changing the distribution of the gold holdings across the different locations is not without precedent. From the end of the Second World War until the early 1970s, for example, DNB increased its gold reserves following the Bretton Woods Accord, mainly in New York. Since then, there have been other movements in DNB's gold stock. The main reasons for this being the gold sales in the past few decades and the closure of the vaults of the Reserve Bank of Australia, as a result of which DNB shipped gold from Australia to the United Kingdom in 2000.

http://www.telegraaf.nl/dft/nieuws_dft/23356897/__Nederlands_goud_in_geheim_terug_uit_VS__.html

Thursday, November 20, 2014

Old foreclosure debt coming back to haunt former homeowners

http://money.cnn.com/2014/11/17/real_estate/zombie-foreclosure-debt/index.html

Ben McLarin lived near Jacksonville, Fla., until he lost his job and got divorced in 2007. His wife kept the house, but then couldn't keep up the payments, spurring the bank to foreclose in 2009.
This year, a debt collector informed him he was being sued for $115,000, the difference between what was owed on the house and the amount the lender managed to recoup after it sold the home, said McLarin, an IT worker, who now lives in California.

Senate inaction allows NSA to keep collecting phone records

http://www.cbsnews.com/news/senate-inaction-allows-nsa-to-keep-collecting-phone-records/

The Senate on Tuesday blocked a bill to end bulk collection of American phone records by the National Security Agency, dealing a blow to President Barack Obama's primary proposal to rein in domestic surveillance.
The 58-42 vote was two short of the 60 needed to proceed with debate. Voting was largely along party lines, with most Democrats supporting the bill and most Republicans voting against it. The Republican-controlled House had previously passed its own NSA bill.

Customers, employees shocked over closing of American Laser Skincare clinics

http://www.kctv5.com/story/27432731/customers-out-money-with-closing-of-american-laser-skincare-clinics

“I called Friday and said, ‘How about Monday,' and she's like, ‘OK, 11 a.m.'. So I get here at five till and I'm like...,” she said.
The company abruptly shut down more than 130 locations across the country on Friday, leaving customers out a lot of money.
American Laser Skincare did not return KCTV5's calls or emails, but their website announced the closing of all clinics and offices:
“We are sorry to announce that all of our clinics have been closed. We too are disappointed in the sudden developments and regret the impact that it is having on our loyal clients, valued employees and business partners.
“If you are a client with a treatment package that has not yet been completed, we are taking steps to try to find alternative providers for you as quickly as possible. While we are working towards this end, we ask for your patience. Current information can be found on www.americanlaser.com and developing updates will be posted as they occur. You may also call the following numbers:
For General Questions: (877) 715-4455