Aug 25, 2009
From the Desk of Nick Nicolaas (FDNN) #75
August 25, 2009
a publication of
E U R O P E A N G O L D C E N T R E
Dear Friends - - Here’s Henk:
Isn't gold keeping us busy? In both directions, up and down and again and again. As with so many things in life, there are two ways to look at it. The glass is half empty or the glass is half full. In my view, gold is taking its time to build a base. The non-believers are playing it down every time but sooner or later they are bound to burn their fingers, I think. Some people argue that there is no real reason why gold should go up, thereby referring to the pretty even balance between supply and demand. I look at it a little differently. One day there will be a shortage of gold and I dont think that day will be too far away. Read my Editorial Comment and “Global Gold Production” by ZEAL'S Scott Wright in the attached August issue of GOLDVIEW.
I take pleasure to present a NEW SUPPORTING COMPANY that is a special one. Indeed more special than others, much more special. A company that introduces a NEW AND DIFFERENT WAY TO PARTICIPATE IN MINING AND EXPLORATION. An interesting concept, which allows investors to get into the business one step ahead of where they usually get their first opportunity to participate. Give it your full attention and ask for more information.
Of course, Sara Patterson is in the issue again, this time with her Poke the Bear blog “The Price of Fear”, strongly recommended reading material. In addition, my brief observations on PLATINUM, SILVER and COPPER and again some GOLD NUGGETS with things that are nice to know.
Hope you like what you read!
Henk J. Krasenberg.
Click here for Henk’s August Goldview Publication
In his Goldview publication Henk introduces Eagle Peak Resources Inc. - - - Please contact us if you would like to hear more about this new and innovative resource investment vehicle!
Regards from Vancouver and as always - - Stay Tuned!!
Nick L. Nicolaas
Mining Interactive "Ahead of the Pack"
Stay tuned for the most recent updates on leading junior exploration companies through the MiningInteractive Video & Radio Interviews.
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Nick L. Nicolaas
firstname.lastname@example.org OR Tom Corcoran
Court orders disclosure of Fed's emergency loans
By Jonathan Stempel
Monday, August 24, 2009
NEW YORK -- A federal judge on Monday ruled against an effort by the U.S. Federal Reserve to block disclosure of companies that participated in and securities covered by a series of emergency funding programs as the global credit crisis began to intensify.
In a 47-page opinion, Chief District Judge Loretta Preska of the federal court in Manhattan said the central bank failed to show that disclosure would cause borrowers in the Federal Reserve System to suffer "imminent competitive harm" by stigmatizing them for using Fed lending programs.
"The board essentially speculates on how a borrower might enter a downward spiral of financial instability if its participation in the Federal Reserve lending programs were to be disclosed," she wrote. "Conjecture, without evidence of imminent harm, simply fails to meet the board's burden."
Monday's ruling comes as lawmakers and investors demand greater disclosure in how the government manages a series of programs designed to lift the economy out of its deepest recession in decades.
The case arose when two Bloomberg News reporters submitted requests under the federal Freedom of Information Act (FOIA) about actions the Fed took to shore up the financial system in 2007 and early 2008, including an expansion of lending programs and the sale of Bear Stearns Co.s to JPMorgan Chase & Co.
After the Fed resisted the request, Bloomberg sued to compel disclosure.
Preska concluded the Fed "improperly withheld agency records in response to a FOIA request by conducting an inadequate search," she wrote.
FOIA obliges federal agencies to make government documents available to the public, subject to various exemptions.
Bloomberg News and the Fed did not immediately return requests for comment.
The case is: Bloomberg LP v. Board of Governors of the Federal Reserve System, U.S. District Court, Southern District of New York (Manhattan), No. 08-9595.
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