Translate

Search This Blog

Search Tool




Sep 25, 2010

THE MONEY WEALTH SHOW: Howe Street website Debt Meets Inflaion Part 1








GATA : THE GATA DISPATCH : The collapse of the U.S. Dollar , Gold at + 5000 According to Rickards... And more Comments & opinions on Gold Price Analysts and Forecasters. Sept., 2010..

Rickards sees dollar collapse prompting new gold standard at +$5,000/oz

5:43p ET Saturday, September 25, 2010
Dear Friend of GATA and Gold:
Omnis Senior Managing Director Jim Rickards was interviewed for six minutes on CNBC a week ago and talked matter-of-factly about the ongoing collapse of the dollar and the likely necessity for the United States to return to a gold standard to support its currency, only this time with convertibility at anywhere from $5,000 to $11,000 per ounce. Gold isn't going up, Rickards observed; rather the dollar is going down, and it is better practice to start pricing everything in terms of gold. Rickards already has been inducted by GATA into the Order of the Tin-Foil Hat so we'll send him his first oak-leaf cluster. The interview starts with comments on the currency valuation controversy between China and the United States and the gold comments begin at 4:10. You can watch it at the CNBC archive here:
http://www.cnbc.com/id/15840232/?video=1592641242&play=1


Weekly precious metals review at King World News sees rally continuing.

10:23a ET Saturday, September 25, 2010
Dear Friend of GATA and Gold (and Silver):
The weekly precious metals review at King World News sounds firmly favorable -- Bill Haynes of CMI Gold and Silver asserting that the gold and silver bull market has years to run, Dan Norcini of JSMineSet.com noting widespread commodity price increases, and the Got Gold Report's Gene Arensberg reporting that commercial short positions in the precious metals have not yet risen aggressively to defeat the rally. The weekly review is about 23 minutes long and you can listen to it at King World News here:
http://kingworldnews.com/kingworldnews/Broadcast/Entries/2010/9/25_KWN_W...


Nepal will put FX reserves into gold and rig domestic market


Nepal Government Adopts New Gold Policy
From Xinhua News Agency, Beijing
Saturday, September 25, 2010
http://news.xinhuanet.com/english2010/business/2010-09/25/c_13528683.htm
KATHMANDU, Nepal -- In a strategic move, Nepal's government has decided to bolster gold reserves to back up macroeconomic stability and manage the market after poor management of the gold trade fueled a balance-of-payments deficit posing challenges to stability for about a year.
According to Saturday's Republica daily, Ministry of Finance and Nepal Rastra Bank, the central bank of the country, have endorsed a new policy on gold under which they have converged on maintaining separate reserves of monetary gold and 24-carat pure gold.
"We will bolster reserves of monetary gold to back up currency and the additional 24-carat pure gold reserve will be maintained to intervene in the market in case of distortion," said a highly placed source at the Ministry of Finance.
Currently, the central bank has more than 6 tons of gold in its reserve. While five tons of the reserve is in Nepal, another 1.2 tons is deposited in Luxemburg against the interest return of 2 percent per annum. The interest is received in gold.
"We have set a target to add 3 to 4 tons of yellow metal in the monetary gold reserve every year once we attain balance-of-payment surplus, " said the source. This means that the policy has adopted a strategy of using surplus in balance of payments to procure gold. At present the surplus is maintained in foreign currency.
The government decided to adopt the new approach mainly because the rate of return on gold in recent years has remained much higher than the rate of return on currency.
The government has banned the import of gold after it failed to re-impose a higher import duty, which was necessary to plug the duty differences on gold between Nepal and India. But that caused supply shortages and sparked illicit inflow of gold from India.
Nepal's gold imports in 2009/10 had touched 41.63 billion Nepali rupees ($570 million) as substantial duty differences on gold between Nepal and India spurred smuggling from Nepal to India.

* * *

Join GATA here:
Toronto Resource Investment Conference
Saturday-Sunday, September 25-26, 2010
Metro Toronto Convention Center, Toronto, Ontario, Canada
http://cambridgehouse3.com/conference-details/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:
http://www.gata.org
To contribute to GATA, please visit:

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


F & F I News: Investors in HSBC furious at 'shambles' over succession. Sept. 25th., 2010





 
Michael Geoghegan, Group CEO of HSBC, HSBC shareholders on Friday vented their fury over the "shambles" of the bank's chairmanship race as management attempted to put on a show of unity in an attempt to limit the damage.
 
 
 
Independent Commission on Banking: John Vickers, chairmain (centre), with (clockwise from left) Claire Spottiswoode, Martin Taylor, Martin Wolf, and Bill Winters. The role of hedge funds within the financial system could be investigated as part of the Independent Commission on Banking's (ICB) inquiry into banks.
 
 
 
Prices of luxury London homes drop for first time in 18 months House prices in some of London’s most exclusive areas have fallen for the first time in 18 months, providing evidence of a slowdown in the housing market.
 
 
 
The risk of a trade war between the US and China has increased after a key Congressional committee backed a bill to allow US companies to seek tariffs on Chinese imports.
 
 
 
There was little love lost on Friday between Easydate, the internet dating group, and Sir Stelios Haji-Ioannou, the founder of easyGroup, as the pair became embroiled in a tiff over trademarks.
 
 
 
High-rolling clients of Betfair, the betting exchange plotting an audacious £1bn-plus float, have been targeted by the Inland Revenue.
 
 

MarketWatch Personal Finance Stories .- This Week's top Personal Finance Stories. Sept., 25th., 2010

MarketWatch

Personal Finance Daily
SEPTEMBER 25, 2010

This week's top Personal Finance stories

By MarketWatch



In case you missed them, here are the top 10 Personal Finance stories from MarketWatch for the week of Sept. 20 to 24:

How to buy property in college towns

The housing market is still in the tank and doesn't seem likely to emerge anytime soon, but there are investment opportunities in one segment: student housing.
Read more on how to buy property in college towns.

The 10 most expensive cities to buy a home

Newport Beach, Calif., is the most expensive real-estate market in the country and Detroit is the most affordable, according to a report by Coldwell Banker.
Read more on the 10 most expensive cities to buy a home.

U.S. workers pay for undervalued Chinese currency

With a national unemployment rate of 9.6%, the American thirst for jobs is strong, and U.S. lawmakers have a target: China.
Read more on U.S. workers pay for undervalued Chinese currency.

Health-care changes kick in

Parents who want to add their adult children to their health plans and people concerned they'll burn through low annual limits on their health benefits if they get sick are about to get some relief as the health-reform provisions kick in.
Read more on health-care changes kick in.

What the government knows about your mortgage

The government already collects information about you and your mortgage when you apply for a home loan, including your race, sex, income level and the tract of land on which the house sits.
Read more on what the government knows about your mortgage

Why investors don't need ETFs

Stop the revolution, average fund investors can get off. The "revolution," in this case, is the expansion, development and increasing use of exchange-traded funds, something that has been brewing for over a decade now, but which may have reached a new zenith this week with the first ever Morningstar ETF Invest Conference held here.
Read more on why investors don't need ETFs.

10 IRA tasks to do before the year ends

It's not enough. The average balance in an IRA would fund less than two years of retirement for the average American and represents not much more than 5% of the income a person needs to maintain a decent standard of living.
Read more on 10 IRA tasks to do before the year ends.

When you can't afford your timeshare

If you're facing money troubles, your resort home could become an unaffordable luxury. Lew Sichelman, in this week's Realty Q&A, offers tips on how to sell a timeshare.
Read more on when you can't afford your timeshare.

How I lost $100,000 trading currencies

When I learned I'd be writing about the growth in retail currency trading, I figured it made sense to try it myself. Luckily, it was only play money.
Read more on how I lost $100,000 trading currencies

Money woes change parents' plans

The economic downturn is causing some parents to think twice before having more children.
Read more on money woes change parents' plans.

NYT : Morning Business News .- GMAC’s Errors Leave Foreclosures in Question. Sept. 25th., 2010



BUSINESS:


GMAC’s Errors Leave Foreclosures in Question
By DAVID STREITFELD
The lender’s admission that it had filed dubious foreclosure documents could inspire a broad legal furor against hasty foreclosures.

Regulators Step in to Aid Credit Unions
By ERIC DASH
Regulators took over three financial institutions that provide the underpinning for hundreds of the nation’s credit unions.

Bank Losses Lead to Drop in Credit Card Debt
By CHRISTINE HAUSER
Billions in charges written off by banks could have more to do with a decline in credit card debt than the frugality of struggling consumers.

More Business News

The Washington Post Today's Headllines & Columnists. Sept 25th., 2010




TODAY'S HIGHLIGHTS
Obama invokes 'state secrets' claim to dismiss suit against targeting of U.S. citizen al-Aulaqi
Reviving a debate over the reach of presidential power in the global fight against al-Qaeda, the Obama administration asked a federal judge early Saturday to dismiss a lawsuit without debating the merits of the government's claim that it can kill terror suspects far from the battlefield in Afghanist
(By Spencer S. Hsu, The Washington Post)

Federal workers becoming a flash point in midterm elections
(By Lisa Rein, The Washington Post)

Foreign profits of U.S. firms could help at home, economists say
(By Michael A. Fletcher and Jia Lynn Yang, The Washington Post)

Bias led to 'gutting' of New Black Panthers case, Justice official says
(By Jerry Markon and Krissah Thompson, The Washington Post)

Repeating family history
The National Book Festival's Adele and Elizabeth Alexander are both blood and ink relations
(By Lonnae O'Neal Parker, The Washington Post)

More Today's Highlights

POLITICS
Federal workers becoming a flash point in midterm elections
From her sixth-floor office at the National Science Foundation in Arlington County, Carter Kimsey earns $155,500 a year helping to conceive and oversee federal research grants to the nation's smartest scientists.
(By Lisa Rein, The Washington Post)

Bias led to 'gutting' of New Black Panthers case, Justice official says
(By Jerry Markon and Krissah Thompson, The Washington Post)

For-profit colleges win brief reprieve from Obama administration
(By Nick Anderson, The Washington Post)

More Politics

NATION
Bias led to 'gutting' of New Black Panthers case, Justice official says
A veteran Justice Department lawyer accused his agency Friday of being unwilling to pursue racial discrimination cases on behalf of white voters, turning what had been a lower-level controversy into an escalating political headache for the Obama administration.
(By Jerry Markon and Krissah Thompson, The Washington Post)

For-profit colleges win brief reprieve from Obama administration
(By Nick Anderson, The Washington Post)

EPA puts bay states on notice
(By David A. Fahrenthold, The Washington Post)

Stink bugs do's and don'ts
(The Washington Post)

Federal workers becoming a flash point in midterm elections
(By Lisa Rein, The Washington Post)

More Nation
WORLD
Obama invokes 'state secrets' claim to dismiss suit against targeting of U.S. citizen al-Aulaqi
Reviving a debate over the reach of presidential power in the global fight against al-Qaeda, the Obama administration asked a federal judge early Saturday to dismiss a lawsuit without debating the merits of the government's claim that it can kill terror suspects far from the battlefield in Afghanist
(By Spencer S. Hsu, The Washington Post)

More World
METRO
Dozens of Fairfax break-ins seen as crimes of one man
man sought in many fairfax, reston, mclean burglaries; larcenies; guns taken
(By Martin Weil, The Washington Post)

Arrests made in three D.C. homicides
(By Martin Weil and Nathan Rott, The Washington Post)

More lion cubs born at National Zoo
(By Martin Weil, The Washington Post)

Driver injured as car crashes into house, catches fire in Northeast
(By Nathan Rott and Martin Weil, The Washington Post)

Federal workers becoming a flash point in midterm elections
(By Lisa Rein, The Washington Post)

More Metro

BUSINESS
A push to bring foreign profits home
Some economists say the struggling U.S economy would get a much needed boost if U.S. corporations brought home some of the $1 trillion in corporate profits that reside overseas.
(By Michael A. Fletcher and Jia Lynn Yang, The Washington Post)

Foreign profits of U.S. firms could help at home, economists say
(By Michael A. Fletcher and Jia Lynn Yang, The Washington Post)

What's new for your re-do
Remodelers find they need to be creative -- and more cost-savvy -- to retain business
(By Sandra Fleishman, The Washington Post)

Adding value to homes without heavy lifting
(By Sandra Fleishman, The Washington Post)

Reality TV's home buying is easy as 1-2-3
HGTV show just hits highlights of District resident's condo search
(By Elizabeth Razzi, The Washington Post)

More Business


NYT : FGCBOLSA - FGC FINANCIAL MARKETS ALERTS

The New York Times

September 25, 2010

My Alerts 

 

Alert Name: FGC BOLSA - FGC FINA
September 25, 2010 

BUSINESS / GLOBAL BUSINESS


HSBC said that Michael Geoghegan had stepped down as chief executive after being passed over for chairman.

BUSINESS


Richard D. Parsons, Citigroup’s chairman, said the board would restore Vikram S. Pandit’s compensation to a level comparable to that of other banking chiefs in 2011.