Search This Blog


Search Tool

Jan 25, 2010

GATA DISTACCHES:: James Turk: The decade's best national currency

James Turk: The decade's best national currency

8:25p ET Monday, January 25, 2010
Dear Friend of GATA and Gold (and Silver):
In his first commentary of 2010, GoldMoney founder and Free Gold Money Report editor James Turk laboriously calculates the performance of gold and silver in all major world currencies over the last decade. Turk, a consultant to GATA, finds that every currency declined by at least 10 percent or more per year on average against gold and by at least 9 percent against silver. (The U.S. dollar's average annual decline against gold was 14.9 percent and 14.4 percent against silver.)
Meanwhile, Turk reports, throughout the decade gold and silver serenely maintained their value against oil.
Turk's analysis is headlined "The Decade's Best National Currency" and you can find it at the Free Gold Money Report Internet site here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Join GATA here:
Phoenix Resource Investment Conference
Thursday and Friday, February 4 and 5, 2010
Renaissance Glendale Hotel and Spa
Glendale, Arizona
Registration discount code: "GATA"

* * *
Support GATA by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon:
* * *
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:

[FWD:'s Evening Brief: Firms Default on Mortgages, So Why Can't Homeowners?]


»click here to see the latest top stories from

It's Earnings Season & CNBC Is...
CNBC 360
Earnings Central
Tomorrow reports from Verizon, Johnson & Johnson, DuPont, Yahoo and more!

Sponsored by Charles Schwab


»click here to see the latest top video from

»click here to see the latest top blogs from

MarketWatch: Personal Finance Daily: January 25,2010

Personal Finance Daily
JANUARY 25, 2010

Monday's Personal Finance stories

By MarketWatch

Don't miss these top stories:

Figuring out how much you'll need to save for retirement is a complex calculation. You have to estimate how many years your savings must last -- that means assessing how long you might live. And you need to figure out how high your expenses will be -- that means estimating your retirement costs, which are bound to be different from the expenses you face while working. Those two calculations alone are enough to make an eager retirement saver look for something -- anything -- more fun to do.

While it can be tough to figure it all out, until you do -- or until you find a financial planner to help you -- it makes sense to send as much money as you can into your retirement-savings account. Read Jonathan Burton's story today for three simple, smart tips on how to best do exactly that.

Plus, read Steve Kerch's story on how the economic downturn is forcing changes in the look, feel and location of retirement homes.

One change that's not so surprising: People want smaller homes. Oops. This weekend my husband, daughter and I moved into a 1,700-square-foot house (from an 850-square-foot condo). Love the space; not so excited about that first heating bill.

-- Andrea Coombes , assistant personal finance editor


Economy forces changes in thinking about retirement homes

If your idea of a dream retirement home is a luxury contemporary overlooking a championship golf course in the desert, you better be prepared for some mighty small block parties: When it comes to retirement living, golf courses are out.
See full story.

Three smart, simple steps to a more financially secure retirement

Bitten by the bear one too many times and uncertain about their jobs and the economy, investors have avoided stocks even after the market's rapid ascent. Indeed, the market's strong rebound over the past 10 months only makes many sidelined buyers more afraid to get on board. Their mantra: We won't get fooled again.
See Jonathan Burton's Life Savings.

A lesson in retirement saving

Veteran personal-finance writer Jane Bryant Quinn says parents should focus on retirement savings before kids' college costs, but the new Roth IRA rules can be a great way to benefit heirs. MarketWatch's Jonathan Burton reports.
 Watch Video Report.


Home prices won't rise soon

Expiring tax credit for home buyers pressured home sales in December and then the credit was extended, so we're in uncharted territory in terms of volatility, according to Trulia CEO Peter Flint, who says prices aren't going up over the next six to 12 months. Stacey Delo reports.
 Watch Video Report.

Existing-home sales plummet

Sales of U.S. existing homes plunged 16.7% in December to a seasonally adjusted annual rate of 5.45 million from 6.54 million in November as a popular tax credit was set to expire, a national real estate trade group estimated Monday.
See Economic Report.


Obama unveils new aid for middle class

The White House rolls out a batch of initiatives designed to help out middle-class Americans shortly before President Barack Obama's first State of the Union address.
See full story.

Obama proposes middle-class plan

Watch footage of President Barack Obama addressing a meeting of the Middle-Class Task Force, headed by Vice President Joe Biden. Video courtesy of Fox Business Network.
 Watch Video Report.

Bernanke likely to win second term: analysts

A firestorm of doubt that erupted late last week over whether lawmakers' support for Federal Reserve Chairman Ben Bernanke was eroding has been all but extinguished almost as quickly, with key members of the Senate saying it looked like he has the votes to be confirmed for a second four-year term.
See The Fed.

Will new rules tame the Wall Street tiger?

There is an old saying that good politics makes bad laws. President Obama's proposal this week to restrict the size and scope of banks, effectively reviving the Depression-era Banking Act, or "Glass-Steagall," is certainly good politics. It puts the Republicans back on the defensive and distracts attention from the wounded health-care bill. But will the new plan lead to good laws?
See full story.


How to make extra money

Jennifer Winslow wanted to earn some extra cash without giving up the flexibility of working part time. An avid cook, she and a friend initially planned to cater meals for busy families. When that turned out to be too time consuming, she tried baking. More than five years later, she has a thriving bakery business in Winslow, Maine (her husband's family has been in town a long time).
See full story.


Help with medical bills

A diagnosis of cancer or other serious disease can be devastating to one's financial as well as physical health -- even for people with insurance. But there are a handful of programs that can help ease the monetary burden.
See full story.


Relief from alternative minimum tax?

Has Congress done anything yet about the alternative minimum tax for 2009? It seems to have gotten lost in all the focus on health-care legislation.
See Tom Herman's Tax Report.


Boy raises over $48,000 for Haiti

Charlie Simpson, a 7-year-old London boy, raised more than $48,000 to help survivors of the Haitian earthquake. Courtesy of Sky News.
 Watch Video Report.


In the 'ETF or mutual fund?' debate, investors miss the point

It was an ordinary press release that was largely ignored by the media, but the recent announcement of a new trade group for the exchange-traded fund industry sends a clear signal about what's next in the evolution of ETFs and how they're viewed by the public.
See Chuck Jaffe.

Regional-bank ETFs sidestep recent financial-sector carnage

Exchange-traded funds that invest in regional-banking stocks have outperformed the broad financial sector so far in 2010 on hopes that smaller lenders' credit losses are easing and that they'll be affected less by potential financial regulation.
See ETF Investing.

Doing good, but not always well

Investing in socially responsible funds has become increasingly popular, driven most recently by growing concern about climate change. But socially responsible investing goes back some time -- nearly 300 years if you consider John Wesley's Methodist notions. He argued that investors should shun businesses that profit through vices such as alcohol, tobacco or gambling.
See full story.

Pawning the Picasso

When art collectors are strapped for cash, they increasingly turn to pawn shops.
 Watch Video Report.


New Year, new resume

It's the New Year, when many people start self-improvement projects. So isn't it time for your resume to turn over a new leaf as well? MarketWatch's Charlie Turner says it's not too late to update your New Year's resolutions -- and your resume.
 Listen to Audio Report.

A career-life crisis

In the new movie "Up in the Air," Anna Kendrick stars opposite George Clooney as Natalie Keener, an ambitious new college graduate who takes a job at a company whose business is to fire people.
See full story.

Forbnes. com : Recovery, Part Two

Recovery, Part Two
01.21.2010, 17:40:00 EST
Ken Fisher

Don't succumb to the pessimism of disbelief. The second year after a bear market is a fine time to own stocks.

Good News
01.15.2010, 16:10:00 EST
Ken Fisher

This should be a great time to own stocks. But we forget long-term lessons and think about the recent past.

In Pictures: Five Fisher Buys For 2010
01.14.2010, 10:30:00 EST
Ken Fisher

Fisher thinks 2010 will be another good year for stocks. Here are five of his best bets.

A Grateful Dead Year
12.31.2009, 22:40:00 EST
Ken Fisher

2009 was a textbook case of how stock markets are supposed to react to big bear markets and recessions.

CDFI:Director Gambrell Participates in Event Celebrating Investment in Affordable Housing Project in Southwest Detroit

Director Gambrell Participates in Affordable Housing Event
January 25, 2010

Director Gambrell Participates in Event Celebrating Investment
in Affordable Housing Project in Southwest Detroit
DetroitMichigan - U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) Director Donna J. Gambrell visited DetroitMichigan today to attend a site visit and press event hosted by the Michigan Interfaith Trust Fund (Trust Fund), a certified CDFI and recipient of a 2009 CDFI Program award of one million dollars.  Senator Debbie Stabenow, State Representative Rashida Tlaib and other officials also attended the event.

The Trust Fund, a nonprofit loan fund providing loans and technical assistance for economic development and affordable housing throughout Michigan, used $550,000 of its award to refinance the mortgage on a four building apartment complex consisting of 54 units of affordable housing and commercial space.  The complex is owned by Southwest Housing Solutions, a Detroit-based Community Development Corporation.  The CDFI Fund grant is the largest single grant the Trust Fund has received in its 25-year history.

“This project is a wonderful example of how capital awarded through the CDFI Program can help stabilize neighborhoods by providing quality affordable housing and opportunities for entrepreneurs to own their own businesses,” said Director Gambrell.

The Trust Fund is a nonprofit loan fund started in 1985 that fosters economic and social justice by providing loans and technical assistance for economic development and affordable housing throughout Michigan The Trust Fund has loaned more than $30 million to nonprofit housing developers and small businesses.  These loans have resulted in the development or preservation of over 2,100 units of affordable housing, the creation of nearly 340 jobs and 125 spaces in child care centers, and the construction or rehabilitation of over 134,000 square feet of commercial space in the state of Michigan.

For more information about the CDFI Fund, visit

Forbes . com : Intelligent Investing January 25, 2010

Intelligent Investing with Steve Forbes


Intelligent Investing Panel
Waiting For Citi To Change
The bank had a loss this quarter from repaying TARP, but is it beyond the worst?
With Alexandra Zendrian
Intelligent Investing
The Prince Of All Media
Saudi Arabia's Prince Alwaleed on his strategic investments in some of the world's largest media companies.
With Steve Forbes

Video: Intelligent Investing With Steve Forbes

Intelligent Investing With Steve Forbes
Alwaleed: Citi's Future Holds Promise
Alwaleed Bin Talal says Citi's only concerns are mortgages and a weakened consumer.

IRS : Anyone can Use Free File

Issue Number:    IRS TAX TIP 2010-16

Inside This Issue

Everyone Can Use Free File  
The IRS Free File service provides free federal income tax return preparation and electronic filing for all taxpayers. All you need is access to a computer and the Internet and you can prepare and e-file your federal tax return for free.
Free File is offered through a partnership between the IRS and the Free File Alliance, a group of private-sector tax software companies. Since Free File’s debut in 2003, more than 27 million returns have been prepared and e-filed through this program.
Free File offers two options. The first is Traditional Free File, which includes approximately 20 tax preparation software products from which to choose. Taxpayers with 2009 incomes of $57,000 or less are eligible for this service. The second option is Free File Fillable Forms, which is an electronic version of IRS paper forms. All taxpayers can use Free File Fillable Forms to prepare and file tax forms electronically.
Use the following steps to file your return through IRS Free File:
Step 1. Get Started Access and click the Free File logo or go to You must access Free File companies through the official IRS Web site to qualify for the free service.
Step 2. Determine Your Eligibility If your 2009 income was $57,000 or less, you’re eligible for Traditional Free File’s easy-to-use, step-by-step software. If your income was higher, you are eligible for Free File Fillable Forms.
Step 3. Link to Free File Company Service If you opt for Traditional Free File, you can choose one of the approximate 20 offerings by reviewing which one fits your situation. You can click "I Will Choose A Free File Company" or "Help Me Find A Free File Company." To get started with Free File Fillable Forms, just click the "Choose Free File Fillable Forms" button.
Step 4. Prepare and e-file your Federal Income Tax Return Either Traditional Free File or Free File Fillable Forms will allow you to file your return electronically, for free.
Both the fillable-forms option and the "full service" Free File offerings are only available through Whether you are new to Free File or a returning taxpayer, you must access Free File through; otherwise, the provider may charge a fee.

Mineweb: Daily news.

Mineweb logo

Welcome to Mineweb's free daily newsletter. Mineweb is the world's top mining and mining investment news website and is read in some 200 countries daily by mining company executives, financiers and investors.  To keep abreast of news throughout the day we suggest you do check our homepage for updates -  
Follow mining news updates on Twitter

TOP STORIES > Monday , 25 Jan 2010                                                     

2010 gold price will be vulnerable to downward correction - S&P

Monday , 25 Jan 2010
In a recent analysis, S&P says copper demand and supply fundamentals remain favorable when compared to other base metals.

Are gold stocks in a bear market?

Friday , 22 Jan 2010
For seven months, investors have been steadily selling down gold stocks; the 100 least wanted have lost half their value.

Seven wounded in shootings at Freeport's Grasberg copper/gold mine

Monday , 25 Jan 2010
At least seven persons, two of them Freeport-McMoRan Copper & Gold employees, were injured Sunday after they were shot while traveling in a Grasberg mine-related convoy.

Gold: Horrible investment but great insurance

Saturday , 23 Jan 2010
Itchy money made 2009 one of the best years on record for the junior resource sector, according to Mickey Fulp. In sector terms, it won't be so easy to prosper in 2010, but nevertheless he's confident about prospects for specific companies that remain undervalued. Interview with The Gold Report.

World No. 1 diamond miner agrees refinancing, slashes costs

Saturday , 23 Jan 2010
As diamond demand begins to return and prices to recover, De Beers is upbeat on its debt position as it agrees refinancing terms and sets up right issue.

Output may be doubled at Kenmare's Moma titanium mine

Saturday , 23 Jan 2010
Kenmare's managing Director sees a market shortage in titanium developining and wants to perhaps double out put at its ilmeite/rutile/zircon mining ops in Mozambique,

Nyrstar buying 1.25 million tonnes of Talvivaara zinc output

Monday , 25 Jan 2010
World top zinc metal producer, Nyrstar, is buying 1.25 mln tonnes of zinc in concentrate from Talvivaara nickel/zinc operations for $335 million to improve self sufficiency.

U.S. and China news brings reversal in energy and metals commodities prices

Saturday , 23 Jan 2010
As with metal commodities, news from China and the U.S. in particular brought recent energy price strength into reversal

Corihuarmi gold mine exceeding expectations

Friday , 22 Jan 2010
Good results from its Corihuarmi gold mine in Peru are helping Minera IRL finance its continuing gold exploration programmes in Peru and Argentina.

Hana to spin out a second Botswana base metals exploration company

Friday , 22 Jan 2010
Company will spin-out and transfer second company, new Hana Copper Mining, in order to build a new base metals company to further explore and develop the Kuke Property.

Of chalk and cheese, aluminium, gold and copper

Friday , 22 Jan 2010
Freeport-McMoRan is from Earth, Barrick from the Moon, and Alcoa from Mars.

Tier 1 gold miner Lihir joins ranks of 1 million oz/year producers

Friday , 22 Jan 2010
Lihir Gold entered the elite ranks of the 1 million ounces of gold a year producers in 2009 with output up 27% as full results from Bonikro and Mt Rawdon boosted group production.

NZ gold miner sets new production records

Friday , 22 Jan 2010
New Zealand gold miner, OceanaGold reported a strong fourth quarter making for record gold output in 2009.

BHP sets aside $240 million for construction of Saskatchewan potash mine

Friday , 22 Jan 2010
The world's biggest mining company plans to enter the global potash mining sector with construction of its Jansen mine in Saskatchewan, Canada.

Money Morning, Will Stocks Rebound From Last Week's Beating? January,25,2010

January 25, 2010
Will Stocks Rebound From Last Week's Beating?

By Jon D. Markman, Contributing Writer, Money Morning

Stocks slipped sharply in the past three days as the underlying market weakness we've been highlighting for the past two weeks finally mattered. A number of better-than-expected earnings reports were ignored. Even the successful election of a Republican to one of Massachusetts' two Senate seats, which helped health-care stocks push the market up on Tuesday, wasn't enough.

Look at it this way: The sellers won a round, after being absolutely bludgeoned since last March.

One of the key catalysts has been word that Chinese authorities are ordering some banks to curb lending -- another sign that China is tightening monetary policy in an effort to forestall a runaway credit bubble. Or maybe it was the Chinese government's decision to pull James Cameron's fanciful and rebellious "Avatar" movie out of its theatres. It's easy to get caught up in the Chinese growth story and forget how oppressive the communist regime running the show there is; these people crushed students to death with tanks.

Read full article... 

Markman on...
Markman on the Markets: Cytori Therapeutics Up 40% and Headed Higher

In an Uncertain Market, Defensive Investing is Smart - And Profitable

How to Turn a $200 investment into $1 Million

Imagine turning $200 penny stock investments into a waterfall of cash.

There's a reason penny stocks have been Wall Street's favorite hidden investment for years now: they give the best shot at winning it big.

A select group of profit-seekers already racks up the big penny stock wins with scientifically selected plays.

Click Here to Find Out How You Can Invest $200

Sponsored content

"Volcker Rule" Socks Bank Trading, Funding for Hedge funds and Private Equity

By Don Miller, Associate Editor, Money Morning

The fallout from the "Volcker Rule," President Barack Obama's proposal to ban banks from making speculative investments that do not benefit their customers, rattled stock and bond markets last week as analysts panicked over the possible repercussions.

At its heart, the plan would fundamentally change the banking industry, separating commercial banks from investment banks, a line that was muddled over a decade ago by the repeal of the Glass-Steagall Act.

"Never again will the American taxpayer be held hostage by a bank that is too big to fail," Obama said Thursday.

Obama announced the plan with former U.S. Federal Reserve Chairman Paul Volcker at his side. Volcker has been stumping for months for increased regulatory control, and the President credited him for the plan's design, dubbing it the "Volcker Rule."

Read full article...

Buy, Sell or Hold: General Mills Stock Has Shown Its Short-Term Value and Is Still a Long-Term Winner

By Horacio R. Marquez, Contributing Editor, Money Morning

On May 26, 2009, I recommended buying shares of General Mills Inc. (NYSE: GIS) stock. Investors who took my advice then would have paid about $52.61 for the stock, which is currently trading at $70.96 a share, resulting in a gain of about 35%.

The stock at the time had been neglected and offered a very compelling risk-reward situation, especially considering the market conditions. But the market often takes some time to recognize tremendous opportunities that to others seem obvious.

That was the case with General Mills, which has been successful for decades. Strong execution and a strong product lineup in a stable business have led to sustained capital formation that weathered the debacle of 2008 relatively well. The 30% drop the stock suffered turned out to be a gift for investors, as it has completely reversed course.

In fact, GIS earlier this month hit a fresh all time high of $72.25. The question now is: Can General Mills keep it up?

Read full article... : Daily Opinion, January 25th, 2010

Latest Stories

Chinese Entrepreneurs Will Set Examples At The Shanghai World Expo

Chinese private companies will display benchmarks for others to follow at next summer's World's Fair in Shanghai.

Corporations Are People Too

Bad, flawed, nasty people.

The True Meaning Of Inflation

Prices aren't an accurate measure.

Squeeze Play

How Republicans can win the middle class in 2010.

Scandalous Behavior

Japan's prime minister has staked his administration on the fate of a scandal-tainted colleague. It's a gamble worth taking.
For more stories, visit us at