http://www.bloomberg.com/news/2013-09-30/wall-street-leaders-to-meet-with-obama-as-budget-crisis-looms.html
"The chief executives of large banks including Goldman Sachs Group Inc. (GS) and JPMorgan Chase & Co. (JPM) will meet with President Barack Obama tomorrow as Wall Street urges Congress to end the budget stalemate in Washington.
The White House visit, confirmed by three people familiar
with the schedule, was set up by the Financial Services Forum, a trade
group representing the CEOs of the 19 largest banking and insurance
firms. The executives are also set to meet with Treasury Secretary Jacob
J. Lew and several lawmakers.
The CEOs plan to discuss the White House’s negotiations
with Congress over funding the government and raising the U.S. debt
ceiling, said the people, who spoke on condition of anonymity because
details of the meeting were still being worked out.
Most of the forum’s CEO members, including Goldman Sachs CEO Lloyd Blankfein, JPMorgan’s Jamie Dimon, Citigroup Inc. (C)’s Michael Corbat, Deutsche Bank AG (DBK)’s Anshu Jain and Bank of America Corp.’s Brian Moynihan, are expected to attend, one of the people said.
A White House official who spoke on condition of
anonymity confirmed the meeting and said the group would also discuss a
broad array of economic issues. Laena Fallon, a spokeswoman for the
forum, declined to comment."
Monday, September 30, 2013
Senate kills House-passed budget bill
Senate kills House-passed budget bill
The Senate late Monday night voted along party lines to kill the House's latest attempt to head off a government shutdown at midnight. The Senate rejected a House-passed bill that would have funded government operations through Dec. 15 and also delayed for one year part of President Barack Obama's health-care law. The Senate's action gives the House another chance to vote on a Senate bill funding the government through mid-November. The Senate bill also keeps funding for the health law.
Pass this on to the Misinformed zombies that wade through the office lounge, the SENATE shut the Government down! Of course the brainwashed Tee Vee viewer wont believe you but give it a try anyway.
Gold Bulls Raise Wagers Most in Month on Stimulus: Commodities
http://www.bloomberg.com/news/2013-09-29/gold-bulls-raise-wagers-most-in-month-on-stimulus-commodities.html
Hedge funds’ combined holdings in gold futures rose the most this month as continued U.S. monetary stimulus spurred investors to sell short contracts and sent prices toward the first quarterly advance in a year.
The net-long position in bullion jumped 12 percent to 78,654 futures and options in the week ended Sept. 24, the most since Aug. 27, U.S. Commodity Futures Trading Commission data show. Long wagers gained 1.8 percent and short bets fell 17 percent, the biggest drop in four weeks. Combined net-long holdings across 18 U.S.-traded commodities climbed 1.7 percent, the first gain in September.
Hedge funds’ combined holdings in gold futures rose the most this month as continued U.S. monetary stimulus spurred investors to sell short contracts and sent prices toward the first quarterly advance in a year.
The net-long position in bullion jumped 12 percent to 78,654 futures and options in the week ended Sept. 24, the most since Aug. 27, U.S. Commodity Futures Trading Commission data show. Long wagers gained 1.8 percent and short bets fell 17 percent, the biggest drop in four weeks. Combined net-long holdings across 18 U.S.-traded commodities climbed 1.7 percent, the first gain in September.
DOJ targets North Carolina
The Department of Justice says it will sue North Carolina for a new law requiring ID to vote.
So how come DOJ lets Illinois slide? Illinois requires ID as well.
And not a peep of protest out of DOJ when Barack Obama is asked to show his ID.
So how come DOJ lets Illinois slide? Illinois requires ID as well.
And not a peep of protest out of DOJ when Barack Obama is asked to show his ID.
More along the lines of "Whenever you're in trouble, NEVER call the cops."
Distraught family members were pepper-sprayed, chained to a bench while daughter was dying of self-inflicted gunshot wound
A tragic situation went from awful to worse as two family members were arrested by police in the process of trying to save a teen girl’s life after a self-inflicted gunshot wound. A father tells of how he missed the final hours of his daughter’s life because he was handcuffed to a bench in a police station, his face still raw from being pepper-sprayed. Now he and his son face criminal charges that have not been dropped, six months later.
On the evening of March 17th, the Russell family made the gut-wrenching discovery that their beloved Brooke, age 16, had shot herself in the head in a suicide attempt behind their Joplin home. Brooke did not immediately die from her wound, and her parents, Julissa and Kevin Russell, along with their son, Brant, desperately rushed her to seek medical care in an attempt to save her life.
The more reports I read of insidious police assaults on innocent citizens like this, the more I am convinced that the LEO's of this nation are now the populations enemy. Especially now that the USG, namely, DHS/NSA/FBI/ATF have declared the entire citizenry, "potential terrorist threats". These people redefine the words "criminally absurd", insane notwithstanding.
You voted for Change, well you certainly got it.
A tragic situation went from awful to worse as two family members were arrested by police in the process of trying to save a teen girl’s life after a self-inflicted gunshot wound. A father tells of how he missed the final hours of his daughter’s life because he was handcuffed to a bench in a police station, his face still raw from being pepper-sprayed. Now he and his son face criminal charges that have not been dropped, six months later.
On the evening of March 17th, the Russell family made the gut-wrenching discovery that their beloved Brooke, age 16, had shot herself in the head in a suicide attempt behind their Joplin home. Brooke did not immediately die from her wound, and her parents, Julissa and Kevin Russell, along with their son, Brant, desperately rushed her to seek medical care in an attempt to save her life.
The more reports I read of insidious police assaults on innocent citizens like this, the more I am convinced that the LEO's of this nation are now the populations enemy. Especially now that the USG, namely, DHS/NSA/FBI/ATF have declared the entire citizenry, "potential terrorist threats". These people redefine the words "criminally absurd", insane notwithstanding.
You voted for Change, well you certainly got it.
"In short, if you want it in two words, it's this: I'm done'
Karl Denninger is shutting down most of his income producing streams and mentally relocating to his version of Galt's Gulch.
NASA Images of Pakistan’s ‘Earthquake Island’
Via Russia Today:
Amidst the destruction caused by the devastating earthquake in Pakistan that killed more than 500 people, a new island emerged from the depth of the sea. NASA has released images of the newly formed islet.
NASA has released before and after photos of a new terrestrial body that was born on September 24 during a quake that struck Pakistan.
Called Zalzala Jazeera, or a an earthquake island, the terrestrial formation can now be found 380 kilometers from the earthquake’s epicenter in Paddi Zirr Bay near Swadar, Pakistan in the Arabian Sea.
The first image of the island was taken by NASA’s Earth Observing-1 satellite on September 26, while the second snapshot shows the same bay on April 17 with water and no landmass around the coordinates that the new island now inhabits.
Amidst the destruction caused by the devastating earthquake in Pakistan that killed more than 500 people, a new island emerged from the depth of the sea. NASA has released images of the newly formed islet.
NASA has released before and after photos of a new terrestrial body that was born on September 24 during a quake that struck Pakistan.
Called Zalzala Jazeera, or a an earthquake island, the terrestrial formation can now be found 380 kilometers from the earthquake’s epicenter in Paddi Zirr Bay near Swadar, Pakistan in the Arabian Sea.
The first image of the island was taken by NASA’s Earth Observing-1 satellite on September 26, while the second snapshot shows the same bay on April 17 with water and no landmass around the coordinates that the new island now inhabits.
iHypocrite
Say what you will Misinformed or not this Administration is a complete disaster. Sure the stock market is up sure there are pockets of our economy humming along ( Washington DC area ) as one example but the harsh reality is nothing is fixed and we are deeper into the shit pile than we we're with Bush.
Thanks To Obamacare, Employer-Based Health Insurance Is Becoming An Endangered Species
Problem with Liberals, they fear failure so the rest of us will have to suffer due to their God like Mental Illness.
Most Popular Question at Healthcare.gov: "How do I get an exemption."
As of Monday morning, here is how the website listed its "Most Popular" items:
Breaking: Actual ObamaTax Rates (Tar Heel State edition)
A friend of mine,
who lives in the Wilmington area, just received his 2014 "renewal" from
Blue Cross/Shield, as well as a copy of the internal rate sheets for
their new "metal" plans.
As one might expect, although he likes his current (HSA) insurance plan, he can't keep it. And contra the President's other explicit promise, his rates didn't go down "3000%"
His current premium, good through the end of 2013, is $212 per month with a $5,000 deductible (and no co-insurance). His renewal has mapped ("transitioned") him to a Bronze plan with a $5,500 deductible (and no co-insurance) with a monthly (non-subsidized) premium of $493, more than double his current premium, plus 10% more out-of-pocket.
Now, he could opt for a so-called "Catastrophic" plan with a $6,350 deductible (and again, no co-insurance) for $387 per month. That's a 35% increase in premiums and a little over 25% greater out-of-pocket.
Fortunately, my friend's a non-smoker, else he could plan on adding an additional 20% to those "bargain" rates.
The ObamaTax in action.
As one might expect, although he likes his current (HSA) insurance plan, he can't keep it. And contra the President's other explicit promise, his rates didn't go down "3000%"
His current premium, good through the end of 2013, is $212 per month with a $5,000 deductible (and no co-insurance). His renewal has mapped ("transitioned") him to a Bronze plan with a $5,500 deductible (and no co-insurance) with a monthly (non-subsidized) premium of $493, more than double his current premium, plus 10% more out-of-pocket.
Now, he could opt for a so-called "Catastrophic" plan with a $6,350 deductible (and again, no co-insurance) for $387 per month. That's a 35% increase in premiums and a little over 25% greater out-of-pocket.
Fortunately, my friend's a non-smoker, else he could plan on adding an additional 20% to those "bargain" rates.
The ObamaTax in action.
Ron Paul: Where's the Grand Bargain For Liberty?
As I write this, it appears that the federal government is about to shut down because the House and Senate cannot agree on whether to add language defunding or delaying Obamacare to the “Continuing Resolution.” Despite all the hand-wringing heard in D.C., a short-term government shut down (which doesn’t actually shut down the government) will not cause the country to collapse.
And the American people would benefit if Obamacare was defeated or even delayed.
Obamacare saddles the American health care system with new spending and mandates which will raise the price and lower the quality of health care. Denying funds to this program may give Congress time to replace this bill with free-market reforms that put patients and physicians back in charge of health care. Defunding the bill before it becomes implemented can spare the American people from falling under the worst effects of this law.
As heartened as we should be by the fight against Obamacare, we should be equally disheartened by the fact that so few in D.C. are talking about making real cuts in federal spending. Even fewer are talking about reductions in the most logical place to reduce spending: the military-industrial complex. The U.S. military budget constitutes almost 50 percent of the total worldwide military spending. Yet to listen to some in Congress, one would think that America was one canceled multi-million dollar helicopter contract away from being left totally defenseless.
Read the rest here.
How Does the Debt Ceiling Standoff End?
So how does this end? The votes to fund the government and raise the debt ceiling are there, and always have been: every Democrat in the House would vote for the necessary measures, and so would enough Republicans. The problem is that G.O.P. leaders, fearing the wrath of the radicals, haven’t been willing to allow such votes. What would change their minds?
Ironically, considering who got us into our economic mess, the most plausible answer is that Wall Street will come to the rescue — that the big money will tell Republican leaders that they have to put an end to the nonsense.
But what if even the plutocrats lack the power to rein in the radicals? In that case, Mr. Obama will either let default happen or find some way of defying the blackmailers, trading a financial crisis for a constitutional crisis.
Obamacare Website Quietly Deletes Reference to 'Free Health Care'
http://www.weeklystandard.com/blogs/obamacare-website-quietly-deletes-reference-free-health-care_757348.html
Even as President Obama and his administration are making a last minute push to encourage enrollment in Obamacare, a quiet change was made on the Healthcare.gov website regarding those who will still not be able to afford coverage after the program kicks in. From at least June 26, 2013 to as recently as September 15, under the topic, "Where can I get free or low-cost care in my community?" the following statement appeared: "If you can't afford any health plan, you can get free or low-cost health and dental care at a nearby community health center." Here is how the page in question appeared:
You mean they Lied? I gasp...
Even as President Obama and his administration are making a last minute push to encourage enrollment in Obamacare, a quiet change was made on the Healthcare.gov website regarding those who will still not be able to afford coverage after the program kicks in. From at least June 26, 2013 to as recently as September 15, under the topic, "Where can I get free or low-cost care in my community?" the following statement appeared: "If you can't afford any health plan, you can get free or low-cost health and dental care at a nearby community health center." Here is how the page in question appeared:
You mean they Lied? I gasp...
ObamaCare Employer Mandate: A List Of Cuts To Work Hours, Jobs
http://news.investors.com/politics-obamacare/092513-669013-obamacare-employer-mandate-a-list-of-cuts-to-work-hours-jobs.htm#ixzz2gNnp72Wq
ObamaCare's impact on jobs is hotly debated by politicians and economists. Critics say the Affordable Care Act, with its employer mandate to provide health insurance, gives businesses an incentive to cut workers' hours. This year, report after report has rolled in about employers restricting work hours to fewer than 30 per week — the point where the mandate kicks in. Data also point to a record low workweek in low-wage industries.
In the interest of an informed debate, we've compiled a list of job actions with strong proof that ObamaCare's employer mandate is behind cuts to work hours or staffing levels. As of Sept. 25, our ObamaCare scorecard included 313 employers. Here's our latest analysis, focusing on cuts to adjunct hours at nearly 200 college campuses. The ObamaCare list methodology is explained further in our initial coverage; click on the employer names in the list below for links to supporting records, mostly news accounts or official documents.
We'll continue to update the list, which we encourage you to share and download into a spreadsheet to sort and analyze. If you know of an employer that should be on the list and can provide supporting evidence, please contact IBD at jed.graham@investors.com.
And the Mental Illness types running the game continue to say " This is good for America " and its the other guys fault?
ObamaCare's impact on jobs is hotly debated by politicians and economists. Critics say the Affordable Care Act, with its employer mandate to provide health insurance, gives businesses an incentive to cut workers' hours. This year, report after report has rolled in about employers restricting work hours to fewer than 30 per week — the point where the mandate kicks in. Data also point to a record low workweek in low-wage industries.
In the interest of an informed debate, we've compiled a list of job actions with strong proof that ObamaCare's employer mandate is behind cuts to work hours or staffing levels. As of Sept. 25, our ObamaCare scorecard included 313 employers. Here's our latest analysis, focusing on cuts to adjunct hours at nearly 200 college campuses. The ObamaCare list methodology is explained further in our initial coverage; click on the employer names in the list below for links to supporting records, mostly news accounts or official documents.
We'll continue to update the list, which we encourage you to share and download into a spreadsheet to sort and analyze. If you know of an employer that should be on the list and can provide supporting evidence, please contact IBD at jed.graham@investors.com.
And the Mental Illness types running the game continue to say " This is good for America " and its the other guys fault?
Chicago PMI rises to 55.7 in September from 53.0
Chicago PMI rises to 55.7 in September from 53.0
Chicago PMI climbed in September to 55.7 from 53.0 in August. Economists polled by MarketWatch had expected the index, formally known the Chicago business barometer, to dip to 54.0. Readings above 50.0 indicate expansion. The Chicago PMI has risen three straight months and the latest increase is "consistent with modest economic growth," the ISM-Chicago association said. New orders advanced the highest level since February, but the employment gauge fell for the third straight month and was the only component to decline
Umm what?
Chicago PMI climbed in September to 55.7 from 53.0 in August. Economists polled by MarketWatch had expected the index, formally known the Chicago business barometer, to dip to 54.0. Readings above 50.0 indicate expansion. The Chicago PMI has risen three straight months and the latest increase is "consistent with modest economic growth," the ISM-Chicago association said. New orders advanced the highest level since February, but the employment gauge fell for the third straight month and was the only component to decline
Umm what?
SAVE II Act Would Prohibit “Non-Cost Effective” Coins and Currency
http://news.coinupdate.com/save-ii-act-would-prohibit-non-cost-effective-coins-and-currency-2168/
The SAVE II Act would achieve savings through the following measures:
The SAVE II Act would achieve savings through the following measures:
- Require default delivery of official Congressional documents to be electronic instead of paper and streamline processes to reduced the amount of paper used.
- Require the Treasury to spend less on producing money than its given value.
- Require federal prisons to convert to digital X-ray systems.
- Improve the efficiency of DOD's management of spare and excess parts.
- Study foreign aid for waste and inefficient spending.
- Require DOD to study and improve interoperability of new
unmanned aerial system platforms, payloads, and ground control stations.
- Cancel passports for citizens who owe more than $50,000 in taxes.
- Simplify import duties negating the need for years-long recovery unpaid duties.
Prohibition on Non-Cost Effective Minting and Printing of Coins and Currency
With respect to coins, Section 5111 of title 31, United States Code would be amended by adding at the end the following:(e) Prohibition on Certain Minting- Notwithstanding any other provision of this subchapter, the Secretary may not mint or issue any coin that costs more to produce than the denomination of the coin (including labor, materials, dies, use of machinery, overhead expenses, marketing, and shipping).
Gold continues its drop on no news
Bart Chilton chimes in
Gold has shed nearly $12 in this morning futures on nothing but bad news.
Gold has shed nearly $12 in this morning futures on nothing but bad news.
And the morning driveby in ( Gold )
Just shy of -$10 and mining shares as well ( a safe haven ) are getting the boot as well. ABX ( as an example ) is down nearly 1% on ZERO news.
Is Saddam Hussein's fortune in a warehouse in Moscow? Mystery over £16.75bn piles of cash left at airport for six years
http://www.dailymail.co.uk/news/article-2437208/Is-Saddam-Husseins-fortu...
- Cash in 100 euro notes is stored on wooden pallets
- Each of the 200 pallets is worth 100million euros
- Money was sent to Moscow from Frankfurt in 2007
- Documents show the sender was a 45-year-old Iranian
- No recipient listed but sources say it could belong to Saddam Hussein
- Other theories are that it belonged to Colonel Gaddafi, a Mafia operation linked to the state, or corrupt officials
- Unsuccessful attempts have been made to claim the fortune that would make the owner richer than Roman Abramovich
The Biggest Central Bank Gold Buyers Since 2009
http://koosjansen.blogspot.nl/2013/09/the-biggest-central-bank-gold-buyers.html
The World Gold Council offers a lot of data, probably correct for most countries except China, on official gold reserves. Since central banks became net buyers in 2009 they're snooping several hundred tons of the market per year, in total 1865 tons in between Q1 2009 and Q2 2013. Let's have a look which countries are the most aggressive buyers.
The World Gold Council offers a lot of data, probably correct for most countries except China, on official gold reserves. Since central banks became net buyers in 2009 they're snooping several hundred tons of the market per year, in total 1865 tons in between Q1 2009 and Q2 2013. Let's have a look which countries are the most aggressive buyers.
Monday:
• 9:45 AM ET, the Chicago Purchasing Managers Index for September. The consensus is for an increase to 54.4, up from 53.0 in August.
• At 10:30 AM, the Dallas Fed Manufacturing Survey for September. This is the last of the regional manufacturing surveys for September. The consensus is a reading of 6.0, up from the reading of 5.0 in August (above zero is expansion).
Sunday, September 29, 2013
Gomez ‘assault weapon’ ban editorial alienates gun owners
A
former and expected future Massachusetts candidate for the United
States Senate has enraged gun owners with an editorial published Tuesday
in The Boston Globe. Gabriel Gomez, who ran in a special election to
replace John Kerry, and who National Republican Committee Chairman Jerry
Moran has said would run again in the regular election in 2014,
blindsided his gun owner supporters by declaring “I was wrong to oppose
assault weapons ban.”
See also: Former SEAL schools Gabriel Gomez on guns and freedom
Matt Bracken's comment on Facebook:
I graduated from BUD/S Class 105 in 1979 as an officer, and took a NavSpecWar platoon to Beirut in 1983. I mention it only as my bona fides to address you. I am extremely disappointed that a former SEAL officer has apparently sold out for perceived political gain. (And please, don't tell any former SEALs that your wife changed your mind about firearms and the Constitution!) As two men with similar training and experience with firearms, we both know very well that in the ultimate test, the difference between slaves or subjects and free men is the right to keep and bear arms that are similar to those carried by the King's men, the police, the military. Don't tell me that the 2nd Amd was written to protect duck hunters or target shooters! In fact, the American Revolution began at Concord and Lexington when the King's soldiers marched to confiscate the arms and gunpowder of American civilians. Mr. Gomez, spare us your "I defended the Constitution" blather. We see through your politically expedient conversion to the dark side. You are now standing firmly on the side of King George and every other dictator who has smashed freedom, or tried to smash freedom, by disarming their "unruly peasants" in the name of "public safety." (BTW, did you know that the bloody mass-murderers of the French Revolution, who also disarmed their peasants--before executing them--was actually called "The Committee of Public Safety?") I'm very ashamed of and disappointed in you, former SEAL or not, and I will do what I can to expose your selling out to the forces of rampant big-government statism. We don't want to live in a nation where the government holds a monopoly on meaningful firearms. We already know about many other countries that disarmed their populations before oppressing them. Just in the last century, Turkey, the USSR, Germany, China and a score of other nations disarmed their populations in the name of "public safety," and we know what happened next. We all saw the movie about a nation that was made nearly gun-free, except for the police and the military. It was called Schindler's List, and you will not get us on those trains, at any time in the future, unless and until you disarm us--the hard way. We will not be led like sheep into the slaughter pens because in a moment of foolish optimism we believed the sweet lies of socialist politicians. You want to take them? Molon Labe, sellout. Come and take them!
Update on sign-stealing cops.
Somers Man Fights Back After Pro-Gun Sign Removed From Lawn.
A Somers man claims the town’s police department violated his right to free speech when they removed a pro-gun sign from his property.
Jon Gibson said he set up a hidden camera at his home after other signs had disappeared from his front lawn and caught an officer removing the placard.
“My client’s rights have been severely damaged, his federal civil rights have been violated,” attorney Richard Bombardo told 1010 WINS.
Town officials and police said the sign violated a zoning ordinance prohibiting signs within the town’s right of way and has nothing to do with free speech or gun rights.
Bombardo said the town is trying to cover their tracks.
“It is our position that the town is just trying to come up with an excuse to cover their deliberate action to take down the sign,” Bombardo said. “What they did was decided they didn’t like his sign for whatever reason, we believe because it was the content of the message which makes this a very troubling situation, and rather than give him a formal court citation they just ripped it down.”
A Somers man claims the town’s police department violated his right to free speech when they removed a pro-gun sign from his property.
Jon Gibson said he set up a hidden camera at his home after other signs had disappeared from his front lawn and caught an officer removing the placard.
“My client’s rights have been severely damaged, his federal civil rights have been violated,” attorney Richard Bombardo told 1010 WINS.
Town officials and police said the sign violated a zoning ordinance prohibiting signs within the town’s right of way and has nothing to do with free speech or gun rights.
Bombardo said the town is trying to cover their tracks.
“It is our position that the town is just trying to come up with an excuse to cover their deliberate action to take down the sign,” Bombardo said. “What they did was decided they didn’t like his sign for whatever reason, we believe because it was the content of the message which makes this a very troubling situation, and rather than give him a formal court citation they just ripped it down.”
SNL tackles Obamacare
SNL opens its new season by skewering Obamacare.
Maybe there's hope after all.
Maybe there's hope after all.
How will the Obamacare situation affect you?
How will the Obamacare situation affect you?
- I'm not participating and I'm not paying the penalty *fuck this, in other words* (34%, 98 Votes)
- I'm exempt / Outside of the U.S. / Not an American / Other (30%, 85 Votes)
- I'm going to pay more for coverage (16%, 46 Votes)
- I'm going to pay about the same for coverage (10%, 30 Votes)
- I'm going to pay less for coverage (7%, 19 Votes)
- I'm not participating and I'll pay the penalty (3%, 9 Votes)
Total Voters: 287
If you’re living outside the US, you don’t have to purchase health insurance by the end of March, 2014, through what will be the newly established health insurance marketplaces in each state. And unlike other citizens residing in the US, you won’t be penalized through a fine for not buying the mandatory insurance. In other words, if you’re an American living abroad throughout 2014, you will be exempt from buying heath insurance and exempt from the penalty for not buying it.
In fact, in order to buy the insurance as an individual, you must be living in the US.
Kenya: NIS Knew an Attack Would Happen
Via: Independent:
Kenya’s National Intelligence Agency (NIS), widely accused by politicians of failing to pick up chatter about the attack, has insisted it did warn the police and officials inside the President’s office before the Westgate siege, but its warnings went unheeded, The Star reported.
According to the same report, a pregnant policewoman avoided Westgate after her brother, who works for Kenyan intelligence, warned her of a terror attack. “She has told police that her brother who is a NIS officer warned her not to visit Westgate that Saturday because she would not be able to run,” a senior officer was quoted as saying.
Kenya’s National Intelligence Agency (NIS), widely accused by politicians of failing to pick up chatter about the attack, has insisted it did warn the police and officials inside the President’s office before the Westgate siege, but its warnings went unheeded, The Star reported.
According to the same report, a pregnant policewoman avoided Westgate after her brother, who works for Kenyan intelligence, warned her of a terror attack. “She has told police that her brother who is a NIS officer warned her not to visit Westgate that Saturday because she would not be able to run,” a senior officer was quoted as saying.
No. 2 U.S. Nuke Commander Under Investigation, Counterfeit Gambling Chips?
Via: AP:
The No. 2 officer at the military command in charge of all U.S. nuclear war-fighting forces is suspected in a case involving counterfeit gambling chips at a western Iowa casino and has been suspended from his duties, officials said.
Navy Vice Adm. Tim Giardina has not been arrested or charged, Iowa Division of Criminal Investigation special agent David Dales said Saturday. The state investigation is ongoing.
Giardina, deputy commander at U.S. Strategic Command, was suspended on Sept. 3 and is under investigation by the Naval Criminal Investigative Service, a Strategic Command spokeswoman said.
The highly unusual action against a high-ranking officer at Strategic Command was made more than three weeks ago but not publicly announced at that time. The command is located at Offutt Air Force Base near Omaha, Neb.
Air Force Gen. Robert Kehler, who heads Strategic Command, suspended Giardina, according to the command’s top spokeswoman, Navy Capt. Pamela Kunze. Giardina is still assigned to the command but is prohibited from performing duties related to nuclear weapons and other issues requiring a security clearance, she said.
Kehler has recommended to Defense Secretary Chuck Hagel that Giardina be reassigned, Kunze said. Giardina has been the deputy commander of Strategic Command since December 2011. He is a career submarine officer and prior to starting his assignment there was the deputy commander and chief of staff at U.S. Pacific Fleet.
DCI agents stationed at the Horseshoe Casino in Council Bluffs, Iowa, discovered the counterfeit chips, Dales said. He would not say when the discovery was made or how much in counterfeit chips was found, only that “it was a significant monetary amount.”
Council Bluffs is located across the Missouri River from Omaha.
“We were able to detect this one pretty quickly and jump on it,” Dales said. He declined to give specifics on how authorities determined that casino chips had been counterfeited or how Giardina might have been involved.
Strategic Command oversees the military’s nuclear fighter units, including the Navy’s nuclear-armed submarines and the Air Force’s nuclear bombers and nuclear land-based missiles.
The No. 2 officer at the military command in charge of all U.S. nuclear war-fighting forces is suspected in a case involving counterfeit gambling chips at a western Iowa casino and has been suspended from his duties, officials said.
Navy Vice Adm. Tim Giardina has not been arrested or charged, Iowa Division of Criminal Investigation special agent David Dales said Saturday. The state investigation is ongoing.
Giardina, deputy commander at U.S. Strategic Command, was suspended on Sept. 3 and is under investigation by the Naval Criminal Investigative Service, a Strategic Command spokeswoman said.
The highly unusual action against a high-ranking officer at Strategic Command was made more than three weeks ago but not publicly announced at that time. The command is located at Offutt Air Force Base near Omaha, Neb.
Air Force Gen. Robert Kehler, who heads Strategic Command, suspended Giardina, according to the command’s top spokeswoman, Navy Capt. Pamela Kunze. Giardina is still assigned to the command but is prohibited from performing duties related to nuclear weapons and other issues requiring a security clearance, she said.
Kehler has recommended to Defense Secretary Chuck Hagel that Giardina be reassigned, Kunze said. Giardina has been the deputy commander of Strategic Command since December 2011. He is a career submarine officer and prior to starting his assignment there was the deputy commander and chief of staff at U.S. Pacific Fleet.
DCI agents stationed at the Horseshoe Casino in Council Bluffs, Iowa, discovered the counterfeit chips, Dales said. He would not say when the discovery was made or how much in counterfeit chips was found, only that “it was a significant monetary amount.”
Council Bluffs is located across the Missouri River from Omaha.
“We were able to detect this one pretty quickly and jump on it,” Dales said. He declined to give specifics on how authorities determined that casino chips had been counterfeited or how Giardina might have been involved.
Strategic Command oversees the military’s nuclear fighter units, including the Navy’s nuclear-armed submarines and the Air Force’s nuclear bombers and nuclear land-based missiles.
Shanghai Gold Exchange Physical Delivery vs Mining vs Import
http://koosjansen.blogspot.nl/2013/09/shanghai-gold-exchange-physical.html
In the first seven months of this year total physical gold withdrawn from the 49 vaults of the Shanghai Gold Exchange was 1333 tons. Chinese domestic mining in this period was 231 tons and net import through Hong Kong 607 tons. Scrap supply couldn't have been more that 150 tons, which means 345 tons had to be imported through other ports than Hong Kong.
CEO Of Italy's Largest Bank Surprisingly Resigns
http://www.zerohedge.com/news/2013-09-29/ceo-italys-largest-bank-surprisingly-resigns
The situation in Italy appears to be going from bad to worse. With a confidence vote pending for Tuesday as the government dissolves into chaos for the umpteenth time, and following the resignation of the CEO of one of Italy's largest non-financial corporations (Telecom Italia), the largest bank (by assets) in Italy - Intesa SanPaolo has announced - effective immediately - the resignation of its CEO and replacement with Carlo Messina. According to sources, the now former CEO had lost the confidence of shareholders (which is odd given the bank's stock is near 2-year highs). We can't help but wonder Ayn Rand-like at the devolution of the ruling class in Italy and what happens next (in light of the crumbling manufacturing and production data).
Gold And Silver – Central Bank Death Dance, Part I
Gold And Silver – Central Bank Death Dance, Part I.
If “they” can get you to ask the wrong questions[s], “they” do not have to worry about
giving the right answer[s]
giving the right answer[s]
Is the Senate About to Pass a Bill Legalizing NSA Logging of Every American's Phone Calls?
http://www.nytimes.com/2013/09/27/us/politics/senators-push-to-preserve-nsa-phone-surveillance.html?_r=0
WASHINGTON — The Senate Intelligence Committee appears to be moving toward swift passage of a bill that would “change but preserve” the once-secret National Security Agency program that is keeping logs of every American’s phone calls, Senator Dianne Feinstein, the California Democrat who leads the panel, said Thursday.
Siemens to cut 15,000 jobs
http://www.marketwatch.com/story/siemens-to-cut-15000-jobs-2013-09-29?link=MW_home_latest_news
The company said this summer that it wouldn’t meet profit targets for the year and, as a result, restructuring has been under discussion.
The reports quote an unidentified spokesman for Siemens as saying that a third of the jobs will be cut in Germany and 10,000 from its overseas operations.
Saturday, September 28, 2013
PDL opens the crisis, ministers resign. Read: 'The Italians did not take the bait'
http://translate.googleusercontent.com/translate_c?depth=1&hl=en&ie=UTF8&nv=1&prev=_t&rurl=translate.google.com&sl=auto&tl=en&u=http://ansa.it/web/notizie/rubriche/politica/2013/09/05/Berlusconi-Schifani-vedo-avvicinarsi-momento-crisi_9248215.html&usg=ALkJrhgodJ7uAz0yW90DPCViOj7JB2eI6w
Silvio Berlusconi opens government crisis, demanding and obtaining the resignation of five ministers of the PDL and resetting the hopes, already slim, the President of the Republic Giorgio Napolitano and Prime Minister Enrico Letta to raise, with an examination in Parliament, l ' government action. Letta, who on Sunday will go to the Quirinale, still want a 'clarification' in front of the room to see if there are numbers but also burden upon the Knight of the responsibility of an 'act crazy - attacks the Prime Minister - just to cover his personal affairs' .
Gold, Silver, Copper and Market Emotions Cycle GDX, MUX, TNR.v, LIT, ILC.
http://sufiy.blogspot.co.uk/2013/09/gold-silver-copper-and-market-emotions.html?m=1
Find yourself in the picture. It is all about emotions and our ability to control it. We listen to those who has been there and did it already: stay discipline, stay focused.
McCain Hires Syrian Analyst Who Lied About Her PhD
Sen. John McCain has hired Elizabeth O'Bagy, the Syria analyst in Washington who was fired for padding her credentials, according to The Cable. She begins work Monday as a legislative assistant in McCain's office.
"Elizabeth is a talented researcher, and I have been very impressed by her knowledge and analysis in multiple briefings over the last year," McCain told The Cable in a statement. "I look forward to her joining my office."
O'Bagy, who is 26, was fired after it was confirmed that she had padded her resume with a Ph.D. from Georgetown University. She also failed to disclose in for a pro-Syrian rebels op-ed in WSJ that she was part of a pro-Syrian rebel political group, the Syrian Emergency Task Force.
"Elizabeth is a talented researcher, and I have been very impressed by her knowledge and analysis in multiple briefings over the last year," McCain told The Cable in a statement. "I look forward to her joining my office."
O'Bagy, who is 26, was fired after it was confirmed that she had padded her resume with a Ph.D. from Georgetown University. She also failed to disclose in for a pro-Syrian rebels op-ed in WSJ that she was part of a pro-Syrian rebel political group, the Syrian Emergency Task Force.
Central bank balance sheets
http://www.cobdencentre.org/2013/09/central-bank-balance-sheets/
Now that there is growing evidence of GDP growth, we must consider a new topic: the likely effect on central bank balance sheets, using the US Fed as an example.
Since the banking crisis the Fed has acquired substantial quantities of securities as a result of the assistance it gave to too-big-to-fail banks and subsequently through quantitative easing, most of the assistance to the banks, the Maiden Lane and TALF securitisations, has been repaid. But since then, QE has swelled the Fed’s balance sheet to $3.6 trillion. The financing of this expansion is reflected mainly in excess reserves, which are deposits in favour of depository institutions, in excess of their required reserves.
House GOP to vote on delaying health law for year
http://www.marketwatch.com/story/house-republicans-meet-as-shutdown-looms-2013-09-28?link=MW_home_latest_news
The Republican plan, which also includes an amendment that would eliminate a tax on medical devices, would keep the government running through Dec. 15. The House could vote on Saturday evening, according to The Wall Street Journal. Both measures should pass in the House but will likely encounter opposition in the Senate, which is currently scheduled to meet on Monday afternoon.
Obama said in his weekly address on Saturday. “No one gets to hurt our economy and millions of innocent people just because there are a couple laws you don’t like.”
Umm what? You work for me fool not the other way around...
The Republican plan, which also includes an amendment that would eliminate a tax on medical devices, would keep the government running through Dec. 15. The House could vote on Saturday evening, according to The Wall Street Journal. Both measures should pass in the House but will likely encounter opposition in the Senate, which is currently scheduled to meet on Monday afternoon.
Obama said in his weekly address on Saturday. “No one gets to hurt our economy and millions of innocent people just because there are a couple laws you don’t like.”
Umm what? You work for me fool not the other way around...
Friday, September 27, 2013
Have a pleasant weekend
It's been a long and trying week especially if you are playing the markets. I Managed to make a few good day trades and capitalized, but my longs are suffering, red like the autumn leaves that are beginning to turn along the back roads of New England.
Leaves are natures way of telling us " we've hit bottom and summer has officially ended " time to prepare for a long hard winter.
Like nature somewhere in this mess we call a market is a bottom. Miners are being very well managed as the sector is thin but that will soon change, I know of $17 trillion reasons why.
One never faults a man for being to early too the party, after all he gets first choice at the bar.
That being said I must adhere to the old saying " good things come to those who wait " In the mean time physical metal is on sale a derivative of all is a wise choice after all October is a delivery month you cannot "Glitch" the real thing.
Have a pleasant weekend
Leaves are natures way of telling us " we've hit bottom and summer has officially ended " time to prepare for a long hard winter.
Like nature somewhere in this mess we call a market is a bottom. Miners are being very well managed as the sector is thin but that will soon change, I know of $17 trillion reasons why.
One never faults a man for being to early too the party, after all he gets first choice at the bar.
That being said I must adhere to the old saying " good things come to those who wait " In the mean time physical metal is on sale a derivative of all is a wise choice after all October is a delivery month you cannot "Glitch" the real thing.
Have a pleasant weekend
LIVE VIDEO: President Obama's reaction to Senate vote
http://www.marketwatch.com/livevideo2
Why is Barry looking DOWN and NOT AT THE CAMERA? Liars look down cause they know they are Lying!
Why is Barry looking DOWN and NOT AT THE CAMERA? Liars look down cause they know they are Lying!
Obama to address threat of govt. shutdown at 3:30 ( Seat belts )
And down goes ABX like clock work...LAMO
This His How An Inside the Beltway Economist Sees the World
As a nation, we will have been fortunate to have benefited from the Fed chairman [Bernanke's] extraordinary efforts over his eight years in charge of the Fed and further privileged to have a worthy successor in Janet Yellen.
He writes this in all sincerity when the economy crashed under Bernanke and the monetary base under Bernanke has positively exploded, leaving a time bomb of potential money supply growth overhanging the economy. That's the beltway view. The money printers are just great!
Miners ( ABX )
Senate blocks effort to defund Obamacare as part of bill averting government shutdown
http://www.dailyjournal.net/view/story/363c6d3869e74b8aa31803a5902cb7e8/Budget-Battle-Obamacare/#.UkXA-z_NldA
The Democratic-led Senate has blocked an effort to strip money from the president's health care law.
The party-line, 54-44 vote clears the last obstacle to Senate approval of a measures aimed at preventing a government shutdown on Tuesday.
The Republican-run House had included the Obamacare language in its version of the shutdown bill at the insistence of conservatives.
A small group of Senate conservatives tried but failed to stop the Senate from considering the bill. They argued their strategy would have kept Democrats from removing the Obamacare provision.
Still unclear is whether Congress will approve legislation preventing a shutdown by Tuesday.
House GOP leaders have yet to determine how to win enough conservative support to pass a new bill.
The Senate voted Friday to approve legislation to keep the government open until Nov. 15. The vote for final passage was 54 to 44. Earlier, the Senate voted to remove House Republican policy measures, including one that gutted President Barack Obama's signature health-care law. The bill must now return to the House for action. If the measure is not agreed to by Tuesday, the government will shut down
Good shut it down! anything is better than helpless governing.
The Democratic-led Senate has blocked an effort to strip money from the president's health care law.
The party-line, 54-44 vote clears the last obstacle to Senate approval of a measures aimed at preventing a government shutdown on Tuesday.
The Republican-run House had included the Obamacare language in its version of the shutdown bill at the insistence of conservatives.
A small group of Senate conservatives tried but failed to stop the Senate from considering the bill. They argued their strategy would have kept Democrats from removing the Obamacare provision.
Still unclear is whether Congress will approve legislation preventing a shutdown by Tuesday.
House GOP leaders have yet to determine how to win enough conservative support to pass a new bill.
The Senate voted Friday to approve legislation to keep the government open until Nov. 15. The vote for final passage was 54 to 44. Earlier, the Senate voted to remove House Republican policy measures, including one that gutted President Barack Obama's signature health-care law. The bill must now return to the House for action. If the measure is not agreed to by Tuesday, the government will shut down
Good shut it down! anything is better than helpless governing.
BREAKING Senate Democrats win critical spending bill vote
Senate Democrats win critical spending bill vote
And the reaction in the Market is? Miners get whip lashed and the DOW, S&P and NAS hold limited losses. All to predictable in this game of " Mental Masturbation "
FHA to draw $1.7 billion from Treasury
FHA to draw $1.7 billion from Treasury
The Federal Housing Administration expects to take about $1.7 billion from the U.S. Treasury Department to comply with rules saying that its reserves must be large enough to cover all projected losses over the next 30 years, officials said Friday. The FHA, which insures mortgages, has been strained by bad older mortgages and its reverse-mortgage portfolio. Earlier this year officials had estimated that FHA would need about $943 million. Since that time mortgage rates have increased, cutting demand for loans, and FHA has generated less revenue from insuring mortgages than officials had previously forecast. The forecast for the Treasury draw assumes that FHA stopped insuring new mortgages and current reserves had to be sufficient to cover all projected losses over the next three decades. FHA officials stressed that the agency has enough funding to pay out claims, and that delinquency and asset-recovery rates are improving. FHA will take the infusion on Monday
FAKE noun
The Federal Housing Administration expects to take about $1.7 billion from the U.S. Treasury Department to comply with rules saying that its reserves must be large enough to cover all projected losses over the next 30 years, officials said Friday. The FHA, which insures mortgages, has been strained by bad older mortgages and its reverse-mortgage portfolio. Earlier this year officials had estimated that FHA would need about $943 million. Since that time mortgage rates have increased, cutting demand for loans, and FHA has generated less revenue from insuring mortgages than officials had previously forecast. The forecast for the Treasury draw assumes that FHA stopped insuring new mortgages and current reserves had to be sufficient to cover all projected losses over the next three decades. FHA officials stressed that the agency has enough funding to pay out claims, and that delinquency and asset-recovery rates are improving. FHA will take the infusion on Monday
FAKE noun
noun: fake; plural noun: fakes
1.
a thing that is not genuine; a forgery or sham.
Buchanan County Sheriff's Department Debuts New "Stun Cuffs" - stjoechannel.com
Buchanan County Sheriff's Department Debuts New "Stun Cuffs" - stjoechannel.com
"Capt. Hovey says there's still a few bugs and kinks to work out before the technology can be fully implemented. He hopes to get that going as soon as possible."
The operation was a success, but the patient died.
"Capt. Hovey says there's still a few bugs and kinks to work out before the technology can be fully implemented. He hopes to get that going as soon as possible."
The operation was a success, but the patient died.
Change in total central bank gold holdings
http://koosjansen.blogspot.nl/2013/09/change-in-total-central-bank-gold.html
Since the crisis central banks became net buyers of gold. Having added 521 tons in 2009, 586 tons in 2010, 358 tons in 2011, 474 tons in 2012 and 181 tons in H1 2013. In total they added 1819 tons since Q1 2009.
Consumer sentiment falls in September
Consumer sentiment falls in September
A gauge of consumer sentiment fell to a final September reading of 77.5 -- the lowest final level since April -- from 82.1 in August, according to Friday reports. Economists polled by MarketWatch had expected a final September level of 78 for the University of Michigan/Thomson Reuters consumer-sentiment index, compared with a preliminary reading of 76.8. Elsewhere Friday, the government reported that consumer spending picked up in August.
A gauge of consumer sentiment fell to a final September reading of 77.5 -- the lowest final level since April -- from 82.1 in August, according to Friday reports. Economists polled by MarketWatch had expected a final September level of 78 for the University of Michigan/Thomson Reuters consumer-sentiment index, compared with a preliminary reading of 76.8. Elsewhere Friday, the government reported that consumer spending picked up in August.
Consumer spending bounces higher in August
Consumer spending bounces higher in August
Consumer spending rose in August at the third fastest pace of the year and spending was also higher than initially reported in July, the Commerce Department said Friday. Spending climbed 0.3% last month on a seasonally adjusted basis, matching the forecast of economists polled by MarketWatch. And spending was revised up in July to show a 0.2% increase instead of 0.1%. The bounceback in spending could generate faster growth in the third quarter than economists had been expecting. Gross domestic product is forecast to rise 1.9%, down from 2.5% in the second quarter, according to the latest estimates. Personal income, meanwhile, rose 0.4% in August, the biggest increase in six months. Economists surveyed by MarketWatch had forecast a 0.3% gain in personal income. Since incomes increased faster than spending, the personal savings rate rose a tick to 4.6%. Also, inflation as gauged by the core PCE price index increased 0.1% in August, or a slightly faster 0.2% on a core basis. Both PCE indexes have risen a scant 1.2% over the past 12 months, indicating that inflation remains contained
Consumer spending rose in August at the third fastest pace of the year and spending was also higher than initially reported in July, the Commerce Department said Friday. Spending climbed 0.3% last month on a seasonally adjusted basis, matching the forecast of economists polled by MarketWatch. And spending was revised up in July to show a 0.2% increase instead of 0.1%. The bounceback in spending could generate faster growth in the third quarter than economists had been expecting. Gross domestic product is forecast to rise 1.9%, down from 2.5% in the second quarter, according to the latest estimates. Personal income, meanwhile, rose 0.4% in August, the biggest increase in six months. Economists surveyed by MarketWatch had forecast a 0.3% gain in personal income. Since incomes increased faster than spending, the personal savings rate rose a tick to 4.6%. Also, inflation as gauged by the core PCE price index increased 0.1% in August, or a slightly faster 0.2% on a core basis. Both PCE indexes have risen a scant 1.2% over the past 12 months, indicating that inflation remains contained
UBS Japan fined $100 million over Libor affair
http://www.swissinfo.ch/eng/business/UBS_Japan_fined_$100_million_over_Libor_affair.html?cid=36933468
A UBS Japanese investment banking
subsidiary was fined $100 million (CHF91 million) by a US judge on
Wednesday for its role in manipulating the London Interbank Offered Rate
(Libor), a leading benchmark used in financial transactions worldwide.
UBS Securities Japan had pleaded guilty on December 19, 2012 to
secretly manipulating Libor benchmark interest rates, and had signed a
plea agreement with the United States government in which it admitted
its criminal conduct.
Gold ( Gaps )
AbominableTax Exchange Crunch-Time edition
Poor Ms Kathy: the clock keeps on tickin', and her pet project keeps getting a lickin'.
To wit:
■ Capital City itself
"The ObamaCare exchange serving Washington, D.C. is delaying important parts of its operations less than a week before it is scheduled to open for enrollment"
Not only won't potential enrollees be unable to calculate their subsidies (if any), but they can't even determine whether or not they're eligible for Medicaid.
■ Colorado
"Colorado exchange managers revealed Monday ... that customers who want tax credits to make health insurance more affordable will have to call for help, rather than navigating the multi-million dollar computer system on their own."
I'm sure that'll go over big with the 20-somethings that hold the key to the whole train-wreck's "success."
■ Utah
"Obamacare’s insurance marketplace was supposed to have “no wrong door ... Consumers will need to find the right door ... or they will possibly face delays in obtaining coverage"
The whole "No Wrong Door" meme was heavily promoted in the Exchange Certification training. Why am I not surprised that it's DOA?
■ Oregon
When it rains, it pours:
"Oregon ... won’t meet all the requirements for its health-insurance exchange when the online marketplace opens Oct. 1 ... For at least two weeks, people using Cover Oregon won’t be able to complete their purchase without help from a certified insurance broker or community group"
Feature or bug? What difference, at this point, does it make?
To wit:
■ Capital City itself
"The ObamaCare exchange serving Washington, D.C. is delaying important parts of its operations less than a week before it is scheduled to open for enrollment"
Not only won't potential enrollees be unable to calculate their subsidies (if any), but they can't even determine whether or not they're eligible for Medicaid.
■ Colorado
"Colorado exchange managers revealed Monday ... that customers who want tax credits to make health insurance more affordable will have to call for help, rather than navigating the multi-million dollar computer system on their own."
I'm sure that'll go over big with the 20-somethings that hold the key to the whole train-wreck's "success."
■ Utah
"Obamacare’s insurance marketplace was supposed to have “no wrong door ... Consumers will need to find the right door ... or they will possibly face delays in obtaining coverage"
The whole "No Wrong Door" meme was heavily promoted in the Exchange Certification training. Why am I not surprised that it's DOA?
■ Oregon
When it rains, it pours:
"Oregon ... won’t meet all the requirements for its health-insurance exchange when the online marketplace opens Oct. 1 ... For at least two weeks, people using Cover Oregon won’t be able to complete their purchase without help from a certified insurance broker or community group"
Feature or bug? What difference, at this point, does it make?
Evans wouldn’t be surprised if no tapering in October
- Tapering could happen in October or December or also in January
- Need more confidence in GDP to taper
- Need to defend inflation below as well as above
- Data doesn’t provide confidence in marjor purchase adjustment
Federal employees to learn their shutdown status by Friday - latimes.com
Federal employees to learn their shutdown status by Friday - latimes.com
The thieves ( both parties ) are pulling a Saturday vote like they do with all the trash
( Obamacare tax ) Votes they want to sneak by the misinformed while they are busy doing their Saturday consuming.
Cox said officials expected that employees required to work would still be paid, but not necessarily on time.
In the past, Congress has approved back pay for workers furloughed during a shutdown, but there is no guarantee that would happen this time, Cox said.
The thieves ( both parties ) are pulling a Saturday vote like they do with all the trash
( Obamacare tax ) Votes they want to sneak by the misinformed while they are busy doing their Saturday consuming.
NY Fed absorbs $11.81 bln in 1st test of reverse repo facility | Reuters
NY Fed absorbs $11.81 bln in 1st test of reverse repo facility
| Reuters
In reverse repurchase agreements, or reverse repos, the Fed temporarily drains cash from the financial system by borrowing funds overnight from banks, large money market mutual funds and others, and offering them Treasury securities as collateral. Banks and the funds receive a modest overnight interest rate, initially set at 0.01 percentage point, or 1 basis point.
The tool is designed to mop up excess cash in the financial system, which if left unchecked could keep rates lower than perhaps desired by the Fed at a later date. If successful, the reverse repos could smooth what may be a rocky transition to tighter monetary policy when the U.S. central bank finally decides the economy is strong enough to withstand higher interest rates.
New York Fed President William Dudley on Monday sought to dispel misconceptions that the introduction of the tool represents a change in monetary policy, saying it is meant only to help improve the Fed's control of overnight interest rates.
| Reuters
In reverse repurchase agreements, or reverse repos, the Fed temporarily drains cash from the financial system by borrowing funds overnight from banks, large money market mutual funds and others, and offering them Treasury securities as collateral. Banks and the funds receive a modest overnight interest rate, initially set at 0.01 percentage point, or 1 basis point.
The tool is designed to mop up excess cash in the financial system, which if left unchecked could keep rates lower than perhaps desired by the Fed at a later date. If successful, the reverse repos could smooth what may be a rocky transition to tighter monetary policy when the U.S. central bank finally decides the economy is strong enough to withstand higher interest rates.
New York Fed President William Dudley on Monday sought to dispel misconceptions that the introduction of the tool represents a change in monetary policy, saying it is meant only to help improve the Fed's control of overnight interest rates.
Friday
• 8:30 AM ET, the Personal Income and Outlays for August. The consensus is for a 0.4% increase in personal income, and for a 0.3% increase in personal spending. And for the Core PCE price index to increase 0.1%.
• At 9:55 AM, Reuter's/University of Michigan's Consumer sentiment index (final for September). The consensus is for a reading of 78.0, up from the preliminary reading of 76.8, but down from the August reading of 82.1.
Thursday, September 26, 2013
Russia Increases Gold Holdings With Kazakhstan for 11th Month
http://mobile.bloomberg.com/news/2013-09-25/russia-increases-gold-holdings-with-kazakhstan-for-11th-month.html
Russian assets gained 12.7 metric tons to 1,015.5 tons, International Monetary Fund data showed today. Kazakhstan’s reserves rose 2.5 tons to 134.5 tons and Turkeyadded 23.4 tons to 487.4 tons, the data showed.
Gold advanced 5.3 percent in August, the second straight monthly gain and longest rally since September last year, as lower prices boosted demand amid mounting concern about military action against Syria. Investors sold 16.8 tons from gold-backed exchange-traded products in August, the smallest outflow this year, according to data compiled by Bloomberg.
Chile Supreme Court Rejects Permanent Shutdown of Barrick's Pascua Lama Gold Mine
https://www.adr.com/Markets/GlobalNewsStory?docID=1-DN20130925013406-7SD4FKDBPTOMEML9U44E47GFKD
Chile's Supreme Court on Wednesday rejected the permanent shutdown ofBarrick Gold Corp .'s (ABX, ABX.T) Pascua Lama project--which straddles the Chilean and Argentine border--as local indigenous communities had requested.
Earlier this year, the company halted construction of its flagship gold and copper mine after being ordered by a court to stop work as it looked into complaints about breaches of environmental standards.
Despite rejecting the permanent shutdown requests, the Supreme Court maintained Pascua Lama's suspension until it completes its water-management system and this system complies with the project's environmental permit.
And what does the stock do... Goes down. Funny stuff
Chile's Supreme Court on Wednesday rejected the permanent shutdown of
Earlier this year, the company halted construction of its flagship gold and copper mine after being ordered by a court to stop work as it looked into complaints about breaches of environmental standards.
Despite rejecting the permanent shutdown requests, the Supreme Court maintained Pascua Lama's suspension until it completes its water-management system and this system complies with the project's environmental permit.
And what does the stock do... Goes down. Funny stuff
Reid won’t include tax repeal in budget bill, but calls tariff ‘stupid
http://blogs.marketwatch.com/health-exchange/2013/09/26/reid-wont-include-tax-repeal-in-budget-bill-but-calls-tariff-stupid/?mod=MW_latest_news
Reid called the tariff a “stupid tax,” and then the Nevada Democrat quickly apologized for using the term.
Here is the transcript of Reid’s comments, courtesy of MarketWatch Washington reporter Rob Schroeder: “Listen …we want a clean [budget resolution], and that’s what we’re going to get. If they want to shut down the government, here’s how much time they have to figure it out. [Points at countdown clock.] Four days, 11 hours, 22 minutes and 15 seconds. No. They can play around all they want. Some of the biggest supporters for doing away with the stupid tax — I’m sorry, I shouldn’t have said that. Doing away with that tax, have told me, they will not support that on [the resolution].”
Trash talking POS, It obvious Obama care really is a Giant Tax on the Citizens of the US under the guise of Healthcare.
Sure there are some Healthcare provisions, you know the ones where the IRS the NSA and every other bureaucracy is allowed to peer over your Medical records. Bottom line don't sign up, who are these people to force upon the American people to BUY something the majority of Americans DON'T WANT! its only a Law if you abide by it.
Reid called the tariff a “stupid tax,” and then the Nevada Democrat quickly apologized for using the term.
Here is the transcript of Reid’s comments, courtesy of MarketWatch Washington reporter Rob Schroeder: “Listen …we want a clean [budget resolution], and that’s what we’re going to get. If they want to shut down the government, here’s how much time they have to figure it out. [Points at countdown clock.] Four days, 11 hours, 22 minutes and 15 seconds. No. They can play around all they want. Some of the biggest supporters for doing away with the stupid tax — I’m sorry, I shouldn’t have said that. Doing away with that tax, have told me, they will not support that on [the resolution].”
Trash talking POS, It obvious Obama care really is a Giant Tax on the Citizens of the US under the guise of Healthcare.
Sure there are some Healthcare provisions, you know the ones where the IRS the NSA and every other bureaucracy is allowed to peer over your Medical records. Bottom line don't sign up, who are these people to force upon the American people to BUY something the majority of Americans DON'T WANT! its only a Law if you abide by it.
Looting the Pension Funds All across America, Wall Street is grabbing money meant for public workers
http://www.rollingstone.com/politics/news/looting-the-pension-funds-20130926
In the final months of 2011, almost two years before the city of Detroit would shock America by declaring bankruptcy in the face of what it claimed were insurmountable pension costs, the state of Rhode Island took bold action to avert what it called its own looming pension crisis. Led by its newly elected treasurer, Gina Raimondo – an ostentatiously ambitious 42-year-old Rhodes scholar and former venture capitalist – the state declared war on public pensions, ramming through an ingenious new law slashing benefits of state employees with a speed and ferocity seldom before seen by any local government.
Detroit's Debt Crisis: Everything Must Go
Called the Rhode Island Retirement Security Act of 2011, her plan would later be hailed as the most comprehensive pension reform ever implemented. The rap was so convincing at first that the overwhelmed local burghers of her little petri-dish state didn't even know how to react. "She's Yale, Harvard, Oxford – she worked on Wall Street," says Paul Doughty, the current president of the Providence firefighters union. "Nobody wanted to be the first to raise his hand and admit he didn't know what the fuck she was talking about."
In the final months of 2011, almost two years before the city of Detroit would shock America by declaring bankruptcy in the face of what it claimed were insurmountable pension costs, the state of Rhode Island took bold action to avert what it called its own looming pension crisis. Led by its newly elected treasurer, Gina Raimondo – an ostentatiously ambitious 42-year-old Rhodes scholar and former venture capitalist – the state declared war on public pensions, ramming through an ingenious new law slashing benefits of state employees with a speed and ferocity seldom before seen by any local government.
Detroit's Debt Crisis: Everything Must Go
Called the Rhode Island Retirement Security Act of 2011, her plan would later be hailed as the most comprehensive pension reform ever implemented. The rap was so convincing at first that the overwhelmed local burghers of her little petri-dish state didn't even know how to react. "She's Yale, Harvard, Oxford – she worked on Wall Street," says Paul Doughty, the current president of the Providence firefighters union. "Nobody wanted to be the first to raise his hand and admit he didn't know what the fuck she was talking about."
Rand Paul: If He Loves It So Much, Why Doesn't The President Take Obamacare?
He said Wednesday on the floor of the Senate:
Why doesn't the president voluntarily take Obamacare? I mean, it's his baby. He loves it so much, why doesn't the president take it? He could voluntarily go on the exchanges. In fact, I’m sure they'd welcome him at the D.C. exchanges. I really think that ought to be a question they ought to ask him at the press briefing today. Mr. President, are you willing to take Obamacare? If you don't want it, why are we stuck with it?
So, if the president can't take it, if Chief Justice Roberts doesn't want it, here's the thing. You want to see a rebellion? We should ask federal employees to take Obamacare. That’s what my amendment says, not just Congress. I’m willing to take it. I don't want it. I absolutely don't want it. And I’ve been frank about it. I’m not a hypocrite. I didn't vote for it. I think the whole thing is a mess and I don't want it. But the thing is if I’ve got to take it, I think the president ought to get it, get a full dose of his own medicine. I think Justice Roberts should get it. I think he contorted and twisted and found new meaning in the constitution that isn't there. And if he wants it so much, if he thinks it's justified and if he's going to take that intellectual leap to justify Obamacare, he ought to get it.
There’s millions of federal employees. They don't want it. But guess who they vote for usually? I think it is a partisan question. I think if we were to put it forward and say, Obamacare is such a wonderful thing for everybody, let's give it to the federal employees; my guess is we wouldn't get a single vote from the opposition party on this. But we won't even get a chance because they don't want to talk about it. Obamacare is good. We’re going to shove it down the rest of America’s throat. We’ll exempt ourselves.
I have a constitutional amendment. I frankly think that Congress should never pass any law that they're exempted from. I think there's an equal protection argument for how it would be unconstitutional for us to do so, and yet we've done it repeatedly. But my question to you is: What you think? Do you think maybe we should ask the president to come down today and sign up for Obamacare? I think we should ask him that today, every day, and henceforth. Mr. President, such a good idea, why don't you get it?
Is It Bailout Time, Again? (FHA Edition)
American Banker.
The FHA is expected to ask for the funds at the end of the month. If it does, it would be the first time in its 79-year history that the agency needed a bailout from the Treasury.
According to AB, the gap is due almost entirely to losses in the FHA's reverse mortgage program. Many seniors who received the loans in a lump sum were later unable to pay taxes and insurance, resulting in a wave of defaults.
The Obama administration is delaying another piece of Obamacare
Politico Pro has now put out a more detailed report:
Monstrosity, we should be bum rushing the white house over this folks...
The Obama administration is delaying another piece of Obamacare — this time postponing online enrollment in some of the small-business exchanges scheduled to open Oct. 1, sources tell POLITICO.
Small businesses looking to enroll in coverage on so-called SHOP exchanges run by the federal government will be able to submit a paper application on Oct. 1 — they just won’t be able to enroll online.
The delay is expected to further stoke Republican-led concerns that the law is not ready and should be stopped before 2014[...]Sources said there’s been very little information about how applications will be transmitted from federal-run SHOPs to insurers selling the health plans.
Monstrosity, we should be bum rushing the white house over this folks...
What's Really Going On in the House of Representatives
The House of Representatives is making a symbolic attempt to shut down ObamaCare. The members know that they cannot get this through the Senate. Obama would veto it even if they could.
Why are they doing this? Because they can. They can let the voters back home know that they are taking a stand. They identify themselves as anti-ObamaCare. They can run on this platform in November of 2014[...]
So, how long will House Republicans continue to take a stand? Until the polls indicate that they will lose in November 2014.
On October 1, enrollment in the exchanges is to begin. But hardly anyone knows how to enroll yet. The computer programs are not ready. The confusion has not yet hit. The sense of betrayal has not yet hit Obama’s poll numbers.
If Republicans can hold out long enough for resentment against the program to spread, they win politically. They can hold out longer. But at some point, they will capitulate. That’s what the uncertainty is all about. It’s about the timing of their capitulation. If they wait too long, we could get a Democrat-controlled House in 2015. Pelosi would be back in power. The Pelosi-Reid-Obama team would run the country for two years. What might come out of that?
In November, both parties want to run on this slogan: “We told you so.” The Democrats want to run on “We told you so about Republicans’ hostility to the middle class.” Republicans want to run on “We told you so about how bad ObamaCare is.”
That’s what the House’s fight is really all about. They can make their point before the government really does start cutting spending enough to create backlash in November. Then they will decide that enough is enough. They will vote for another continuing resolution.
The fight will be over how long the continuing resolution is for. From the Republicans’ viewpoint, the shorter, the better. They will then get to complain about ObamaCare every few months. The Democrats want a long extension. That will be what the fight will boil down to. But the House Republicans will capitulate.
Fed's Kocherlakota wants to boost, not taper, QE3
Fed's Kocherlakota wants to boost, not taper, QE3
The Federal Reserve should take actions to strengthen its support for the economy instead of pulling back, or tapering, said Minneapolis Fed President Narayana Kocherlakota on Thursday. Low inflation shows that Fed policymakers have "a lot of room to provide much needed stimulus to the labor market," Kocherlakota said, in a speech to the Rotary Club of Houghton, Mich. Kocherkakota called for the Fed to set a goal to return employment to its maximal level as rapidly as it can, while keeping inflation close to, although temporarily above, its 2% target. Monetary policy is not impotent, he added. Kocherlakota is not a voting member of the Fed's policy-making committee this year. Over the past few years, he has transformed from a leading hawk, concerned about higher inflation, into one of the strongest voices in favor of asset purchases and an easier policy stance. Not even concerns about asset bubbles should deter possibly adding more stimulus, he said.
Of course, now that they managed to take gold down to a more comfortable level now it can rise on this news and pretty much break even on the day...Nope no manipulation going on here so says the CFTC..
The Federal Reserve should take actions to strengthen its support for the economy instead of pulling back, or tapering, said Minneapolis Fed President Narayana Kocherlakota on Thursday. Low inflation shows that Fed policymakers have "a lot of room to provide much needed stimulus to the labor market," Kocherlakota said, in a speech to the Rotary Club of Houghton, Mich. Kocherkakota called for the Fed to set a goal to return employment to its maximal level as rapidly as it can, while keeping inflation close to, although temporarily above, its 2% target. Monetary policy is not impotent, he added. Kocherlakota is not a voting member of the Fed's policy-making committee this year. Over the past few years, he has transformed from a leading hawk, concerned about higher inflation, into one of the strongest voices in favor of asset purchases and an easier policy stance. Not even concerns about asset bubbles should deter possibly adding more stimulus, he said.
Of course, now that they managed to take gold down to a more comfortable level now it can rise on this news and pretty much break even on the day...Nope no manipulation going on here so says the CFTC..
Gold ( No news sell off )
I give up...And Miners get pounded back just under 2%...time to walk away take a breather.
Obama: Obamacare opponents growing irresponsible
http://www.marketwatch.com/story/obama-obamacare-opponents-growing-irresponsible-2013-09-26?link=MW_home_latest_news
President Barak Obama on Thursday said opponents of his signature health-care law have become "more irresponsible" the closer the Oct. 1 sign-up date for uninsured Americans approaches. Opponents have threatened a "government shutdown" and also an "economic shutdown" to block the Affordable Care Act, Obama said in a speech at Prince George's Community College in suburban Washington D.C. Obama said he would not agree to defund the health-care law as House Republicans have requested in exchange for keeping the government open
While political activists on the other side of the spectrum have made similar observations, Rossiter boasts professional credentials and a life virtually free of activism and links to “the vast right-wing conspiracy.”
President Barak Obama on Thursday said opponents of his signature health-care law have become "more irresponsible" the closer the Oct. 1 sign-up date for uninsured Americans approaches. Opponents have threatened a "government shutdown" and also an "economic shutdown" to block the Affordable Care Act, Obama said in a speech at Prince George's Community College in suburban Washington D.C. Obama said he would not agree to defund the health-care law as House Republicans have requested in exchange for keeping the government open
Leading Psychiatrist Says Liberalism is a Psychological Disorder
Just when liberals thought it was safe to start identifying
themselves as such, an acclaimed, veteran psychiatrist is making the
case that the ideology motivating them is actually a mental disorder.
“Based on strikingly irrational beliefs and emotions, modern liberals
relentlessly undermine the most important principles on which our
freedoms were founded,” says Dr. Lyle Rossiter, author of the new book, “The Liberal Mind: The Psychological Causes of Political Madness.”
“Like spoiled, angry children, they rebel against the normal
responsibilities of adulthood and demand that a parental government meet
their needs from cradle to grave.”While political activists on the other side of the spectrum have made similar observations, Rossiter boasts professional credentials and a life virtually free of activism and links to “the vast right-wing conspiracy.”
Bank Of England Experiencing Technical Difficulties
http://www.bankofengland.co.uk/publications/Pages/news/2013/115.aspx
The Bank has been experiencing some technical IT problems today. There is no impact on critical payment and settlement services. Alternative procedures are in place where necessary. The Bank is acting to resolve these problems as soon as possible.
WOW just WOW, mind your money folks...
The Bank has been experiencing some technical IT problems today. There is no impact on critical payment and settlement services. Alternative procedures are in place where necessary. The Bank is acting to resolve these problems as soon as possible.
WOW just WOW, mind your money folks...
Persistent Unemployment - The New Norm
http://viableopposition.blogspot.ca/2013/09/persistent-unemployment-new-norm.html
It's quite apparent, despite the Fed's assurances otherwise, that this recovery has been a particularly tough one if you are an unemployed or underemployed American. This recovery has felt far different than most of the recoveries that many of us have experienced throughout the past few decades. A recent study by the Brookings Panel on Economic Activity suggests that this may well be the new norm in their paper "Amerisclerosis? The Puzzle of Rising U.S. Unemployment Persistence" and that the post-Great Recession economy is simply following a pattern that was established after the previous two recessions where the recovery in employment follows a prolonged and somewhat flattened shape rather than the more traditional "V" shape experienced in the 1950s, 1960s, 1970s and early 1980s as you can see in this graphic:
It's quite apparent, despite the Fed's assurances otherwise, that this recovery has been a particularly tough one if you are an unemployed or underemployed American. This recovery has felt far different than most of the recoveries that many of us have experienced throughout the past few decades. A recent study by the Brookings Panel on Economic Activity suggests that this may well be the new norm in their paper "Amerisclerosis? The Puzzle of Rising U.S. Unemployment Persistence" and that the post-Great Recession economy is simply following a pattern that was established after the previous two recessions where the recovery in employment follows a prolonged and somewhat flattened shape rather than the more traditional "V" shape experienced in the 1950s, 1960s, 1970s and early 1980s as you can see in this graphic:
We are reminded of thses so called Glitches ( Power Grid Down Drill To Be Conducted By US Government )
http://www.offthegridnews.com/2013/08/28/power-grid-down-drill-to-be-conducted-by-us-government/
Power grid vulnerabilities are finally garnering some attention by government officials.
An electrical grid joint drill simulation is being planned in the United States, Canada and Mexico. Thousands of utility workers, FBI agents, anti-terrorism experts, governmental agencies, and more than 150 private businesses are involved in the November power grid drill.
The downed power grid simulation will reportedly focus on both physical and cyber attacks. The antiquated electrical system in the United States has been one of the most neglected pieces of integral infrastructure.
The EMP Commission, created by Congress, released a report in 2008 calling for increased planning and testing, and a stockpiling of needed repair items.
The SHIELD Act, which is stalled in Congress, is the first serious piece of legislation in many years to attempt to address the vulnerabilities of the power grid in. As previously reported by Off The Grid News, a recent American Society of Civil Engineers (ASCE) report gave the power grid a “D+” when grading various pieces of infrastructure and public services in the United States.
First signs are here, halting, glitches.. there are always first signs, I say prepare for a Market crash..
Power grid vulnerabilities are finally garnering some attention by government officials.
An electrical grid joint drill simulation is being planned in the United States, Canada and Mexico. Thousands of utility workers, FBI agents, anti-terrorism experts, governmental agencies, and more than 150 private businesses are involved in the November power grid drill.
The downed power grid simulation will reportedly focus on both physical and cyber attacks. The antiquated electrical system in the United States has been one of the most neglected pieces of integral infrastructure.
The EMP Commission, created by Congress, released a report in 2008 calling for increased planning and testing, and a stockpiling of needed repair items.
The SHIELD Act, which is stalled in Congress, is the first serious piece of legislation in many years to attempt to address the vulnerabilities of the power grid in. As previously reported by Off The Grid News, a recent American Society of Civil Engineers (ASCE) report gave the power grid a “D+” when grading various pieces of infrastructure and public services in the United States.
First signs are here, halting, glitches.. there are always first signs, I say prepare for a Market crash..
New "Glitch" Normal - NASDAQ/NYSE Declare Self-Help Against BATS
UPDATE: BATS Halted trading
- *BATS Y HALTED TRADING AT 9:44 A.M., COMPANY SPOKESMAN SAYS
- *BATS Y EXCHANGE EXPERIENCING 'INTERNAL NETWORKING ISSUE'
Labor ups estimate of annual payrolls by 345,000
http://www.marketwatch.com/story/labor-ups-estimate-of-annual-payrolls-by-345000-2013-09-26?link=MW_home_latest_news
The Labor Department on Thursday estimated it will add 345,000 to the level of payrolls in the year to March 2013. That's because it's now including 469,000 who work in providing non-medical care to the elderly, who previously were not counted in the survey. Other changes based on including comprehensive state unemployment insurance tax records saw a 124,000 downward revision. The final benchmark revision will be issued in February 2014
LMAO!
The Labor Department on Thursday estimated it will add 345,000 to the level of payrolls in the year to March 2013. That's because it's now including 469,000 who work in providing non-medical care to the elderly, who previously were not counted in the survey. Other changes based on including comprehensive state unemployment insurance tax records saw a 124,000 downward revision. The final benchmark revision will be issued in February 2014
LMAO!
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