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Apr 17, 2010

The GATA Dispatch : Researcher urges China to buy gold, energy, natural resources, April 17, 2010

Researcher urges China to buy gold, energy, natural resources

Don't look now, but that's just what China is doing.
* * *
By Aileen Wang and Jacqueline Wong
Reuters
Saturday, April 17, 2010
http://www.reuters.com/article/idUSTOE63G00P20100417?type=marketsNews
BEIJING -- China should use more of its massive foreign exchange reserves to buy gold to support its aim of raising the international role of the yuan currency, a senior government researcher said on Saturday.
Li Lianzhong, who heads the economic department of the Communist Party's policy research office, said that Beijing should also encourage domestic enterprises to acquire foreign energy and natural resource assets by using part of the foreign exchange reserves.
"We can also consider buying some more gold because if we want to develop the RMB into an international currency, we must have some scale of gold reserves," Li told a forum in Beijing. The yuan is also known as the renminbi.
China's foreign exchange reserves, the world's largest, rose to $2.4471 trillion by the end of March.
China disclosed last April that its official gold holdings had risen to 1,054 tonnes from 600 tonnes in 2003, confirming years of speculation it had been buying.
But gold is still a small portion of its huge foreign exchange reserves, which are mostly invested in dollar-denominated assets.
The tumbling U.S. dollar has threatened to weaken China's buying power, fuelling a debate that the world's third-largest economy should diversify into gold, oil and metals.
Support GATA by purchasing a colorful GATA T-shirt: http://gata.org/tshirts
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon:
http://www.goldrush21.com/
* * *
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:
http://www.gata.org
To contribute to GATA, please visit:

http://www.gata.org/node/16

The GATA Dispatch: Despite selloff, Butler tells King World News he's bullish, blasts LBMA, April 17, 2010

Despite selloff, Butler tells King World News he's bullish, blasts LBMA

11:11a ET Saturday, April 17, 2010
Dear Friend of GATA and Gold (and Silver):
Today silver market analyst Ted Butler gives what may be his best weekly interview yet to Eric King of King World News. Butler says:
-- Last week's precious metals selloff was another Comex manipulation that may not last much longer.
-- There has been a sharp decline in the metal claimed to back the silver exchange-traded fund SLV and this may signify that the metal is needed somewhere else by the price managers amid a worsening shortage of metal.
-- Market analyst Jim Rickards' interview last week with King World News (called to your attention by GATA on Wednesday, http://www.gata.org/node/8546) was important for citing the lack of transparency of the London Bullion Market Association. "You can't depend on anything the LBMA says," Butler complains, adding that the LBMA discloses "nothing verifiable" and "I wouldn't trust anything from the LBMA."
-- Having sued Goldman Sachs for fraud on Friday, the U.S. Securities and Exchange Commission may give courage to the U.S. Commodity Futures Trading Commission to act against Goldman and other investment banks in their manipulation of the commodities markets.
-- Silver is set up to take off imminently.
You can find Butler's interview with King World News here:
http://www.kingworldnews.com/kingworldnews/Broadcast_Gold+/Entries/2010/...
Or try this abbreviated link:
http://tinyurl.com/y798o2c
Let's hope that the Great Market Manipulator is listening -- and that's not Bernanke.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Support GATA by purchasing a colorful GATA T-shirt: http://gata.org/tshirts
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon:
http://www.goldrush21.com/
* * *
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:
http://www.gata.org
To contribute to GATA, please visit:

http://www.gata.org/node/16


MarketWatch: Report Goldman Charged With Civil Fraud April 16, 2010

Bloomberg: Goldaman Said to have been Warned of SEC Suit, April17, 2010

Goldman Sachs Group Inc., which fell 13 percent yesterday after U.S. regulators announced fraud accusations, didn’t disclose that it was warned nine months ago that investigators wanted to bring a case, people with direct knowledge of the talks said.

MarketWatch: Markets.-U.S. stocks face new week with fresh humility

"MarketWatch Email A Friend Logo"
Market Snapshot
U.S. stocks face new week with fresh humility

Last Update: 3:41 PM ET Apr 17, 2010

The U.S. stock market will begin the week with a new, and humbled, 
perspective -- thanks to the volcanic eruption that hit Wall Street in 
the form of Securities and Exchange Commission charges against 
Goldman Sachs. ...Read the rest of the story
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Ashes of subprime volcano fall on Wall Street


BBC News : Ash deepens Europe travel chaos



Page last updated at 20:19 GMT, Saturday, 17 April 2010 21:19 UK


Volcanic ash in Iceland, 17 April
Volcanic ash continues to disrupt air travel across Europe, as aviation officials warn the situation is likely to worsen.

Services for Polish crash victims
Tens of thousands attend memorial services in the Polish capital to remember the victims of last weekend's plane crash.

Church 'wounded by sins' - Pope
In his first foreign trip since Catholic sex abuse scandals broke, the Pope says the Church has been "wounded by its sins".



FGC BOLSA - FGC FINANCIAL MARKETS




1.-  "It’s Aggregate Demand, Stupid":
  
I've been worried that the administration is overselling the recovery, setting expectations high and then under delivering is not the formula for success. So it's good to see Christina Romer saying that we're not out of the woods yet, and that the economy could still use more help.. To read full article go to :Economist's view


The Washington Post: Today's Highlights April 17th, 2010



TODAY'S HIGHLIGHTS
Digging in on financial regulations
President Obama accused Republicans on Friday of trying to carve out "special loopholes" for the financial sector in regulatory reform legislation and warned they would soon face a choice: whether to side with an unpopular industry or with ordinary Americans.
(By David Cho and Scott Wilson, The Washington Post)

Ash-filled skies ground thousands
Volcanic eruption leaves fliers across Europe seeking other travel options or sending regrets
(By Anthony Faiola and Karla Adam, The Washington Post)

Obama: Small steps, big changes
VISITATION IS AN EXAMPLE
President manages to sidestep major battles

(By Michael D. Shear, The Washington Post)

LeBron and Kobe are on a collision course
(By Michael Wilbon, The Washington Post)

A D.C. education hero's startling end
Principal who led rebirth of Shaw Middle is slain at his Montgomery home
(By Dan Morse and Daniel de Vise, The Washington Post)

More Today's Highlights

POLITICS
Obama: Small steps, big changes
President Obama's decision Thursday night to grant same-sex couples hospital visitation rights is the latest and most visible example of a strategy to make concrete steps toward equality for gays and lesbians without sparking a broad cultural debate or a fight with Congress.
(By Michael D. Shear, The Washington Post)

Candidates turn to Obama's playbook
Democrats to draw on online fundraising capacity for elections
(By Paul Kane and Chris Cillizza, The Washington Post)

Massa wrote chief of staff $40,000 check after announcing he would quit Congress
(By Carol D. Leonnig, The Washington Post)

Senator says OTS failed as watchdog
Ex-director of agency argues that panic caused WaMu collapse
(By Dina ElBoghdady, The Washington Post)

Appeals nominee faces tough questioning
GOP criticisms suggest coming high court battle will be hard-fought
(By Ben Pershing, The Washington Post)

More Politics
NATION
Obama calls for public-private conservation initiative
President Obama launched the America's Great Outdoors initiative Friday, an attempt to reshape U.S. conservation policy at a time when the nation is facing new environmental threats but the government is hard-pressed to afford new spending programs.
(By Juliet Eilperin and Scott Wilson, The Washington Post)

A D.C. education hero's startling end
Principal who led rebirth of Shaw Middle is slain at his Montgomery home
(By Dan Morse and Daniel de Vise, The Washington Post)

Appeals nominee faces tough questioning
GOP criticisms suggest coming high court battle will be hard-fought
(By Ben Pershing, The Washington Post)

Sharpton's 'extraordinary' partnership with the White House
(By Krissah Thompson, The Washington Post)

Corrections
(The Washington Post)

More Nation

WORLD
Evidence points to 'external explosion' in sinking of S. Korean ship
TOKYO -- An "external explosion" probably sank a South Korean naval ship three weeks ago near a disputed sea border with North Korea, a government investigator said Friday in Seoul.
(By Blaine Harden, The Washington Post)

Ash-filled skies ground thousands
Volcanic eruption leaves fliers across Europe seeking other travel options or sending regrets
(By Anthony Faiola and Karla Adam, The Washington Post)

Ash-filled skies choke travel in Europe
Iceland's volcanic eruption leaves fliers seeking other transportation options or sending regrets
(By Anthony Faiola and Karla Adam, The Washington Post)

For hapless Somalis, fleeing is only option
Refugees tell of Islamists' growing brutality and power in face of weak government
(By Sudarsan Raghavan, The Washington Post)

Nation Digest
(The Washington Post)

More World

METRO
Those who have been there praise hospital mandate
Kate Fleming was dying. But her partner, Charlene Strong, couldn't get to her. A social worker at a Seattle hospital barred Strong from the room because she wasn't a blood relative, she said. Strong said it took 20 minutes to locate a relative on the phone. "A minute felt like a hundred hours," s...
(By Darryl Fears and Lena H. Sun, The Washington Post)

Georgetown student assaulted
(By Martin Weil, The Washington Post)

Students take a star turn in musical
Best and brightest at Prince George's school sing and dance in 'Dreamgirls' production
(By Hamil R. Harris, The Washington Post)

Va. missionary-group officer accused of taking $700,000
Money allegedly used for 'lavish lifestyle,' including Porsche SUV, authorities say
(By Tom Jackman, The Washington Post)

LOTTERIES
April 16
(The Washington Post)

More Metro

BUSINESS
Digging in on financial regulations
President Obama accused Republicans on Friday of trying to carve out "special loopholes" for the financial sector in regulatory reform legislation and warned they would soon face a choice: whether to side with an unpopular industry or with ordinary Americans.
(By David Cho and Scott Wilson, The Washington Post)

U.S. says Goldman defrauded investors
WALL STREET GIANT FACES CIVIL SUIT
SEC says firm bet against products it sold to customers

(By Zachary A. Goldfarb, The Washington Post)

SEC knew of Stanford's Ponzi scheme 12 years earlier, IG says
(By Zachary A. Goldfarb, The Washington Post)

Report on mine blast to be independently evaluated
(By Steven Mufson, The Washington Post)

Faster Forward Rob Pegoraro
Excerpt from washingtonpost.com/fasterforward
(The Washington Post)

More Business

TECHNOLOGY
Faster Forward Rob Pegoraro
A Pulitzer Prize can win you a round of applause in a newsroom, but it won't necessarily get your application in Apple's App Store. Freelance artist Mark Fiore, winner of the 2010 prize for editorial cartooning and the first online-only recipient of a Pulitzer, found that out in December.
(The Washington Post)

Policing the Internet
Oversight is needed, but with a light hand.
(The Washington Post)

Students paid to look at photos
Montgomery police are investigating how sexting images were obtained
(By Jenna Johnson, The Washington Post)

More Technology

SPORTS
Halladay wins home debut
PHILADELPHIA -- Even on a soggy night, Roy Halladay made it look easy.
(By ROB MAADDI, AP)

Nats reach .500 with win over Brewers
Kennedy's single in eighth inning is key hit in 5-3 triumph
(By Zach Berman, The Washington Post)

Strasburg worth the wait in 21/3-inning stint for Harrisburg
Despite the rain, Nationals prospect is overpowering
(By Dave Sheinin, The Washington Post)

Proper placement lifts Northern to a key win
(By Katie Carrera, The Washington Post)

[3] Atlanta Hawks vs. [6] Milwaukee Bucks
(The Washington Post)

More Sports

STYLE
Death by blunt-force Balanchine trauma
If anyone needs a demonstration of the stultifying effect that the national Balanchine obsession has had on new choreography, the Washington Ballet's triple bill at Harman Hall is it. Minimalism reigns. Legs hit noses. Crotches -- cranked open, screaming at you to notice -- hit a new expressive high...
(By Sarah Kaufman, The Washington Post)

Death leaves a hole in two families
(By Reeve Lindbergh, The Washington Post)

'Shadowboxer,' an opera that scores one for reality
The life of a legend, Joe Louis, punches up an art form
(By Anne Midgette, The Washington Post)

Winning places to go
(The Washington Post)

An un-'settling' comment: Astute or sour grapes?
(By Carolyn Hax, The Washington Post)

More Style


Kyrgyz lessons
IT LOOKS as if the Obama administration might have lucked out in Kyrgyzstan, the obscure Central Asian nation that is host to an important U.S. military base. The coalition that consolidated power this week after a popular uprising includes several liberal democrats with pro-Western views, including...
(The Washington Post)

For the students
The District's budget muddle shouldn't undo a landmark deal.
(The Washington Post)

Policing the Internet
Oversight is needed, but with a light hand.
(The Washington Post)

 

NYT: World and Business News, April 17th , 2010



WORLD

Air Travel Chaos Deepens Into Weekend
By ALAN COWELL, LIZ ROBBINS and NICOLA CLARK
Some airports that had reopened Friday closed again on Saturday as an ash cloud continued to affect Europe.

Europe’s Cloud of Ash Casts Pall Over World of Music
By DANIEL J. WAKIN
Performances must be adjusted as artists’ travel plans are disrupted from Europe’s volcanic ash problem.

Chinese Premier Visits Tibetan Quake Survivors
By ANDREW JACOBS
The death toll exceeded 1,100 as the country’s Han leadership made a prominent display of concern for one of China’s most troubled ethnic minorities, Tibetans.

More World News


BUSINESS 

STOCKS AND BONDS
Wall Street’s Win Streak Ends at 6
By JAVIER C. HERNANDEZ
Shares on Wall Street fell sharply after Google’s profit failed to impress traders and after the government accused Goldman Sachs of defrauding investors.

Web Coupons Know a Lot About You, and They Tell
By STEPHANIE CLIFFORD
Printed or sent to cellphones, the coupons look standard, but they can contain a startling amount of data.

Bank of America, With Merrill’s Help, Returns to Profit
By ANDREW MARTIN
The bank, which is often considered an economic bellwether, said its net credit losses dropped 5 percent in the first quarter.

More Business News

Money Morning: The Week Top Stories 4/12 - 4/16, 2010

April 17, 2010

How To Pocket An Extra $4,000 Every Month...
This income-producing investment is virtually unknown outside the elite circles of Europe. The Old World's most powerful families have been tapping this money supply for generations, collecting cash whenever needed. Now Martin Hutchinson has found a way for Americans to cash in on this same royal cash source for the first time. See report here.


Washington - Not China - Is the Real Manipulator Here

By Keith Fitz-Gerald, Chief Investment Strategist, Money Morning
SHANGHAI, People's Republic of China - China just posted its first monthly trade deficit in nearly six years, a $7.24 billion shortfall for March that essentially torpedoes Washington's argument that the Asian giant is a "currency manipulator" of the worst kind.

The Obama administration's assertion that China is artificially keeping the yuan undervalued to gain a global competitive advantage isn't just misguided: It actually demonstrates that Washington lacks even a basic understanding of global economics. Given that the same U.S. leaders who have been pushing to hang this manipulator label on China and impose sanctions are the same ones who tried to end the financial crisis by creating a river of debt that will haunt us for years, I can't say that I'm surprised.

As the U.S. argument goes, pegging its currency to the dollar gives China a distinct advantage when it comes to less-expensive manufacturing and a strong export market. The implication is that somehow this is negatively impacting our economy, or - in a variation of the same logic - holding back our recovery. Washington points to the massive trade deficits we regularly run with that country as evidence of China's currency-market wrongdoing.

In reality, China's pegged currency has done two things. First, it's allowed the United States to keep its inflation rate at a much lower (and more-manageable) level than it should have been in view of the $14 trillion in debt that this country has taken on.

And, second, it's allowed China to fuel its own stimulus package while at the same time assuming a meaningful role in the ongoing global recovery.

Let's take a minute to talk about why this is true.

Read Full Article


The next "Crude rush" is officially underway

Three of the world's major oil-producing countries are in trouble. Their crude reserves are intact, but they can't get the oil out of the ground. So they're enlisting small service providers to bail them out - to come in and help drill and extract the oil.
The profit potential for these companies - and their shareholders - is huge, as you'll see in this brand-new FREE report from Money Morning contributing analyst Dr. Kent Moors. Get your copy of the report here.

Low Stock Market Volume: It's Even Weaker Than You Think

By Shah Gilani, Contributing Writer, Money Morning

Conventional investing wisdom tells us that when stocks rally on low stock market volume, traders perceive that lack of widespread participation as an indicator of the market's future vulnerability.

And as torrid as this rally in U.S. stock prices has been, the lack of trading volume has been a consistent cause for concern.

Unfortunately for market bulls, even this well-chronicled concern doesn't tell the whole story. That's because U.S. stock market volume is even worse - actually, much worse - than anyone realizes. And this ultra-low stock market volume should be sending up some serious red flags for investors.



Read the Full Story Here

MarketWatch: WeeklyRoundup: The Week's TopVideos. April 17th, 2010

MarketWatch
Weekly Roundup
APRIL 17, 2010

The week's top videos

By MarketWatch



In case you missed them, here are the top 10 videos that appeared on MarketWatch for the week of April 12-16:

A new palace for Goldman Sachs

A new, modern and lavish headquarters for Goldman Sachs is nearly ready for 7,500 of the company's employees.
 Watch Video Report.


The Apple-Adobe Flash fight

A look at the growing battle between Apple and Adobe as Apple continues to block the use of Adobe's flash software, which powers video on most Web sites. Plus Palm shares soar again, this time on reports the company has hired bankers for a sale.
 Watch Video Report.


Apple delays iPad international launch

Apple on Wednesday said it will delay selling the iPad overseas by one month, until the end of May, because of surprisingly strong U.S. demand. Stacey Delo discusses with Dan Gallagher and Bob O'Brien.
 Watch Video Report.


Revolution Investing: Hedging your longs

If you're long-term bullish on a lot of stocks, you might want to find ways to hedge that exposure. Consider betting against BlackBerry maker Research In Motion Ltd., according to Cody Willard.
 Watch Video Report.


Intel kicks off earnings season with a bang

Intel's profit surges as revenue jumps 44%. Dan Gallagher tells Stacey Delo what's behind the chip maker's strong earnings report.
 Watch Video Report.


Rex on Tech: An epitaph for Palm

Palm shares have surged 20% over the past couple days on the belief that the handheld-device maker is in the market for a buyer. Should Palm get bought out, it would be an ignominious end to a company that once owned the market for PDAs -- remember them?
 Watch Video Report.


Watchdog warns $85-a-barrel oil puts recover at risk

The International Energy Agency has joined a chorus of economists warning that persistently high crude prices threaten the global economic recovery, amid growing concerns that $3-a-gallon gasoline at the U.S. pumps this summer will hit consumer demand.
 Watch Video Report.


Inside a Russian billionaire's $300 million yacht

Designed by Philippe Starck, the "A" has quickly become the most loved and loathed ship on the sea. Robert Frank takes an exclusive tour of Andrey Melnichenko's 394-foot mega-yacht.
 Watch Video Report.


Volcano hits friendly skies

Paul Sonne discusses how Iceland's volcanic eruption is disrupting European air travel.
 Watch Video Report.


Stop losing your cell phone

Simon Constable talks to Katherine Boehret, who introduces us to two new devices that help prevent your cell phone or mobile device from getting away from you.
 Watch Video Report.


See the week's Top 10 news and analysis stories.

See the week's 10 best Personal Finance stories.