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Aug 12, 2010

MarketWatch : Industry - Financial Services .-Mutual Funds WeeklyMutual Funds Weekly. August 12th., 2010



INDUSTRY-FINANCIAL SERVICES



Mutual Funds Weekly: Stock-fund investors' attack-dog days of summer  
By MarketWatch


Sellers rush to the stock market's exit, sending the Dow Jones Industrial Average tumbling 3.5% in just three days through Thursday, after the Federal Reserve conceded earlier this week that U.S. economic growth was more "modest" than policymakers had anticipated. 

The GATA DISPATCHES: Hinde Capital's Ben Davies discusses his ETF indictment with King World News /Gold, silver ETFs are price-suppression schemes, Hinde Capital report finds

Hinde Capital's Ben Davies discusses his ETF indictment with King World News

8:22p ET Thursday, August 12, 2010
Dear Friend of GATA and Gold (and Silver):
Eric King of King World News today interviewed Hinde Capital CEO Ben Davies about his firm's stunning new report denouncing the main gold and silver exchange-traded funds as price-suppression schemes. Davies sees the possibility of a gold rally in the hundreds of dollars as markets increasingly realize that there isn't much gold to support all the claims sold against it. You can listen to the interview at the King World News Internet site here:
http://kingworldnews.com/kingworldnews/Broadcast/Entries/2010/8/12_Ben_D...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.




Gold, silver ETFs are price-suppression schemes, Hinde Capital report finds

7:37p ET Thursday, August 12, 2010
Dear Friend of GATA and Gold (and Silver):
Hinde Capital in London today published a wonderful warning against investing in the gold exchange-traded fund GLD and the silver exchange-traded fund SLV, echoing and elaborating on the concerns raised about those ETFs by the report published in May by Solari Investment Advisory Services LLC, the firm founded by GATA Board of Directors member Catherine Austin Fitts. (The Solari report, "GLD and SLV: Disclosure in the Precious Metals Puzzle Palace," can be found at the Solari Internet site here: http://solari.com/archive/Precious_Metals_Puzzle_Palace/.)
The Hinde Capital report, "Precious Metal ETFs Alchemy: GLD -- the New CDO [Collateralized Debt Obligation] in Disguise?," asserts of the gold and silver ETFs:
"-- ETFs should not be owned by serious professional investors.
"-- ETFs offer none of the benefits of physical bullion ownership.
"-- ETFs are no cheaper than owning physical allocated bullion stored and insured in secure vaults.
"-- ETFs are not as secure as owning physical allocated bullion either via a bullion fund or an allocated bullion account.
"-- ETFs provide no returns above the bullion price, only the likelihood of tracking at a discount or potentially failing to track the bullion price at all.
"-- ETFs do not provide 24-hour liquidity, unlike the bullion market itself.
"-- It is evident that gold with multiple owners has entered into unallocated and more importantly allocated accounts. We see it as highly likely that encumbered or leased gold could thus be in ETF products."
The Hinde Capital report also notes the likely conflict of interest of the precious metal ETF custodians, HSBC and JPMorganChase, which are also the big shorts in the gold and silver market.
In essence, the Hinde Capital report concludes that the gold and silver ETFs are part of the fractional-reserve gold and silver banking schemes to suppress precious metals prices. "Every time you purchase a paper gold derivative," the Hinde Capital report concludes, "you are aiding the suppression of the gold price. Why? The proliferation of paper gold products creates the illusion of more supply than there is physical bullion, at the prevailing price."
You can find the report at the Hinde Capital Internet site here:
http://www.hindecapital.com/docs/hil_reports/Hinde%20Capital%20-%20Preci...
Or try this abbreviated link:
http://tinyurl.com/2429o2f
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

Join GATA here: Toronto Resource Investment Conference
Saturday-Sunday, September 25-26, 2010
Metro Toronto Convention Center, Toronto, Ontario, Canada
http://www.cambridgeconferences.com/index.php/toronto-resource-investmen...

The Silver Summit
Thursday-Friday, October 21-22, 2010
Davenport Hotel, Spokane, Washington
http://www.silversummit.com/

New Orleans Investment Conference
Wednesday-Saturday, October 27-30, 2010
Hilton New Orleans Riverside Hotel
http://www.neworleansconference.com/redirect.php?page=index.html&source_...

* * *
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:
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To contribute to GATA, please visit:

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



 


MarketWatch: Industry - Internet.- Oracle Sues Google Fors Patent Infringement/ Silence on Google-Verizon Plan. August 12th., 2010


INDUSTRY- INTERNET

Oracle sues Google for patent infringement

By John Letzing MarketWatch


Oracle files a patent-infringement lawsuit against Google, alleging that the Internet search giant infringed on intellectual property related to the Java software that Oracle acquired when it purchased Sun Micro. 



By John Letzing MarketWatch


Google Inc.’s Internet peers have largely met the company’s joint policy proposal with Verizon Communications Inc. for so-called network neutrality with a resounding silence, even as their own businesses stand to be affected. See full story



Forbes: Opinions on Global Themes .- China's Coming Property Bust



China's Coming Property Bust
Gordon G. Chang
Why 64.5 million apartments in China use no electricity.


Marketing Indian Drugs to Americans
8.12.10, 5:06 PM ET - Helen Coster
I love hearing about entrepreneurs who find business opportunities in unexpected places. This week Provocations
Crying Sharia
8.11.10, 8:38 AM ET - Conor Friedersdorf
Scare mongers are distracting us from the actual threats posed by radical Islam.
International
Asia Should Buy Into Africa's Growth
8.12.10, 9:00 AM ET - Charles Roxburgh, Arend van Wamelen and Susan Lund
Sectors beyond natural resources are profitable and prime for further advances.
 
China?s KFC Index
8.12.10, 2:42 AM ET - Patrick Chovanec
Why it matters that the price of my fast-food meal is rising faster than inflation.
 
Inside China?s Consumer Culture
8.12.10, 1:41 AM ET - Joel Backaler
How shoppers are transforming industries from cars to fast food.
 
What Chinese Shoppers Are Buying Online
8.12.10, 1:21 AM ET - Ray Tsuchiyama
What's with the demand for Japanese pens, milk, pipes and thickening shampoo?

ABC News : Australia Business News.- Labor to lift apprentice cash bonuses. August 12th., 2010


Labor to lift apprentice cash bonuses
Prime Minister Julia Gillard will announce increased cash bonuses for apprentices who finish their training as she campaigns in Sydney today.


Miners suspend strike as pay talks continue
Workers have suspended industrial action at a north Queensland mine while talks over pay and conditions resume with management.


India threatens to ban Blackberry messaging

India says it will cut off BlackBerry email and instant messaging unless the smartphone's Canadian makers allow security forces access to the services by the end of the month.


More Business Stories > 

MarketWatch : Personal Finance Daily..-Mortgages are cheaper, but housing needs a doctor. August 12th., 2010


MarketWatch

Personal Finance Daily
AUGUST 12, 2010

Thursday's Personal Finance stories

By MarketWatch




Don't miss these top stories:
Wanna buy a house cheap? Fixed-rate mortgages are slipping and sliding, with the 30-year, fixed-rate loan at its lowest level since record-keeping began in 1971.

Inexpensive mortgages seem like a great way to jump-start the hapless housing market and the moribund U.S. economy. Buyers will surely jump at attractive rates, and beleaguered homeowners can refinance debt at lower, more manageable levels.

Why, the chief economist at Freddie Mac was positively sunny in describing the results of the agency's Primary Mortgage Market Survey on Thursday. "Low rates are helping to heal many battered local housing markets by increasing home-purchase activity," said Frank Nothaft.

Yes, money is easy, but getting it is hard.

Maybe somewhere the sun is shining, but not in Mudville. Credit is tight, and even qualified borrowers have enormous difficulty convincing lenders to cough up cash. Refinancing accounts for almost 80% of all mortgage activity nowadays, according to the Mortgage Bankers Association, meaning new loans are few and far between.

In addition, many homeowners who want to refinance can't take advantage of these low rates -- and give themselves financial breathing room -- because their house is worth less than the value of their current mortgage; they also may be unemployed or have tainted credit, among other ailments.

Is there a doctor for the house?
-- Jonathan Burton , Money & Investing editor


REAL ESTATE

Mortgage rates continue to fall, setting record lows

Fixed-rate mortgages continued their decline to record lows this week and the 5-year adjustable rate also reached a new low, Freddie Mac reported.
See full story.


INVESTING

Danger of inflation and taxes on a portfolio

Most investors have heard of real returns -- returns calculated after inflation -- but perhaps not enough have considered what one investment manager calls "real real returns" -- the impact that inflation, investing costs and taxes can have on a portfolio.
See Mutual Understanding.


Hedge funds pile into Treasury bond market

U.S. Treasury bonds, often a top choice for risk-averse investors, are attracting more interest from hedge funds now, according to a study by consulting firm Greenwich Associates.
See full story.

 

NASDAQ : Latest Forex News.- August 12th., 2010

NASDAQ LATEST FOREX NEWS:

Latest Forex News


 

Currency Cross Rates


* Currency rates are delayed.