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Jun 15, 2011

From The Desk Of Nick Nicolaas - Mining Interactive: (FDNN) Alert #74

From the Desk of Nick Nicolaas – (FDNN)
Alert #74
Zurich - June 15, 2011
“The June 13th/14th (2011.45) Turning Point”            
Post Mortem
Martin Armstrong and the Future
(Your financial future that is!)
June 13 and 14 has come and gone!
So what did this Turnaround Date bring us???
Dear Friends:
I have been traveling non-stop to Sweden (the Tasman Norra Karr HREE project); Finland (the Mawson high grade Rompas Gold/Uranium project); Frankfurt and now in Zurich and I just received Martin Armstrong’s post June 13/14 essay.  I have read it over quickly but I have not had the time to fully digest his writings and I am not sure as to the significance of this Turnaround Date and how it will impact my financial future.
I expected something more definitive at this Turnaround date but as Marty writes:
“This turning point is a wake-up call and we will hit the snooze button once again.  2011 appears to be shaping up as did the 1985.65 turning point. It is more likely than not to be a profound change in the economics rather than a particular market just yet. This is good news that we did not get bubble tops or dramatic lows in the key markets.”
Marty reveals in the last paragraph that he will provide “a world review” as soon as the data is available:
“I will provide a world review soon as data is available on the economic front. For now, I hope this exposes the hidden order that lies beneath the surface.  There is much ground to cover and so little time.  What I hope to illustrate is that opinion is substantially flawed when the world around us is far more dynamic than most are willing to contemplate”.
*       *      *
As always - - Stay Tuned – the Universe is unfolding as it should!!
Regards from Zurich,
Nick L. Nicolaas
(604) 657-4058

SEC RESS RELEASE: SEC Concludes That Certain Stanford Ponzi Scheme Investors Are Entitled to Protections of SIPA

SEC Concludes That Certain Stanford Ponzi Scheme Investors Are Entitled to Protections of SIPA


Washington, D.C., June 15, 2011 – The Securities and Exchange Commission today concluded that certain individuals who invested money through the Stanford Group Company – a U.S. broker-dealer owned and used by Allen Stanford to perpetrate a massive Ponzi scheme – are entitled to the protections of the Securities Investor Protection Act of 1970 (SIPA).
In exercising its discretionary authority under SIPA and based on the totality of the facts and circumstances of the case, the Commission asked the Securities Investor Protection Corporation (SIPC) to initiate a court proceeding under SIPA to liquidate the broker-dealer.
According to its 2009 complaint, the SEC alleged that Allen Stanford operated a Ponzi scheme in which certain investors were sold certificates of deposit (CDs) issued by Stanford International Bank Ltd. (SIBL) through the Stanford Group Company (SGC). SGC is a SIPC Member.
In an analysis provided to SIPC, the SEC explains that, on the specific facts of this case, investors with brokerage accounts at SGC who purchased the CDs through the broker-dealer qualify for protected “customer” status under SIPA.
In reaching its determination, the SEC cited the conclusions in the report of the court appointed-receiver for SGC, who noted that the many companies controlled and directly or indirectly owned by Stanford “were operated in a highly interconnected fashion, with a core objective of selling” the CDs.
Among other things, the receiver also noted that “[c]orporate separateness was not respected within the Stanford empire. ... Money was transferred from entity to entity as needed, irrespective of legitimate business need. Ultimately, all of the fund transfers supported the Ponzi scheme in one way or another, or benefitted Allen Stanford personally.”
The Commission further determined that, in light of all of the facts and circumstances in this case, the customers’ claims should be based on their net investment in the fraudulent CDs used to carry out the Ponzi scheme.
A SIPA liquidation proceeding would allow investors with accounts at SGC to file claims with a trustee selected by SIPC. The trustee would decide whether the investors have “customer” claims that are protected by the statute. An investor who disagreed with the trustee’s determination could seek court review.
The Commission has authorized its staff to file an action in federal district court under SIPA to compel SIPC to initiate a liquidation proceeding in the event SIPC does not do so.
# # #

Financial & Forex Info | Reuters Daily Investor Update: Wall Street sinks as Greek fears rise; more losses eyed.


Wall Street sinks as Greek fears rise; more losses eyed
NEW YORK (Reuters) - Stocks tumbled on Wednesday, driven lower by escalating Greek debt woes, while troubling U.S. data pointed to further losses ahead. | Full Article

With no profit, Pandora Media soars in debut
June 15, 2011 02:50 PM ET
NEW YORK (Reuters) - Pandora Media Inc shares soared as much as 48 percent in their market debut as investors shrugged off fears that the online radio service might never turn a profit. | Full Article
Consumers battle weaker growth, higher prices
June 15, 2011 04:25 PM ET
WASHINGTON (Reuters) - The U.S. economy is facing a troubling mix of higher prices and weak growth. | Full Article
Rich world economy prospects darken: Reuters poll
June 15, 2011 12:48 PM ET
LONDON (Reuters) - The rich-world's economic prospects have darkened slightly, a Reuters poll of economists showed, with new signs of a slowdown in the United States compounding fears about the poor fiscal health of Western economies. | Full Article
Exclusive: Maple Group has no plans to sweeten TMX bid
June 15, 2011 04:22 PM ET
TORONTO (Reuters) - The all-Canadian consortium that launched a hostile C$3.7 billion ($3.8 billion) takeover bid for TMX Group has no plans to sweeten its C$48-a-share offer or change any other terms, a source with knowledge of Maple's strategy said on Wednesday. | Full Article
Greeks rage on austerity, PM offers to quit
June 15, 2011 03:54 PM ET
ATHENS (Reuters) - Greece's prime minister offered to quit and make way for a national unity government after mass protests against a new austerity plan turned violent on Wednesday, with the country teetering on the brink of default. | Full Article
CIA drone plan in Yemen faces obstacles
June 15, 2011 02:27 PM ET
LONDON (Reuters) - An Obama administration plan to expand the use of CIA-operated drones against militants in Yemen faces obstacles and will take considerable effort to put into full operation, a U.S. official familiar with the plan said. | Full Article
Debt talks set July 1 deadline for deal
June 15, 2011 03:49 PM ET
WASHINGTON (Reuters) - A group of top lawmakers on Wednesday set an ambitious July 1 goal to reach a broad debt-reduction deal, even though Republicans and the White House are still far apart on taxes and healthcare. | Full Article
Most tumors not within cell phone radiation range
June 15, 2011 03:31 PM ET
NEW YORK (Reuters Health) - Brain tumors among cell phone users are not clustered within range of most of the radiation emitted from the devices, a new report finds - suggesting that mobile phones do not cause cancer. | Full Article
ADP says investigating data breach
June 15, 2011 03:30 PM ET
NEW YORK (Reuters) - Automatic Data Processing Inc, the world's largest payroll processor, on Wednesday said it is investigating a data breach affecting one of its corporate clients. | Full Article
FDA says Takeda diabetes drug raises cancer risk
Pfizer, BI inhaler may raise risk of death: study
Regeneron drug effectively treats vision loss: FDA
J&J to quit struggling heart stent business
Analysis: Drugmakers set aside rivalries to lift products

Financial & Forex Info | Kitco New York Market Close Report,

New York Market Close Jun 15/11 05:23 PM EDT

NYT: Afternoon Business News: Markets Stumble on Economic Data


Markets Stumble on Economic Data

The Dow Jones industrial average fell more than 180 points after concerns about inflation and the lack of a blueprint for the euro zone debt crisis kept investors on edge, analysts said.

Moody's to Review French Banks Over Greece Exposure

Moody's cited "concerns" about the exposure of BNP Paribas, Société Générale and Crédit Agricole to the Greek economy.

States Lean on Public Workers for Bigger Pension Contributions

Gaping pension shortfalls are forcing states to get more money from workers, some of whom have already accepted wage freezes and higher health insurance contributions.

Maker to Discontinue Drug-Coated Stents

Johnson & Johnson will stop manufacturing drug-coated heart stents by the end of the year after a series of company setbacks and rising concerns about the use of stents in some patients.

Pandora Shares Climb in Debut

Shares of the online music service began trading at $20 on the New York Stock Exchange -- the latest sign of investor enthusiasm for Internet stocks.

MarkettWatch | AfterThe Bell Briefing U.S. stocks end sharply lower on economic worries



By Kate Gibson
NEW YORK (MarketWatch) -- U.S. stocks on Wednesday took their biggest hit in two weeks, with the major indexes falling hard on a combination of worries about Europe's debt crisis and data illustrating a slower U.S. economy. "All the macro issues are banging the market around because we're in the corporate news void," said Mark Luschini, chief investment strategist at Janney Montgomery Scott. The Dow Jones Industrial Average DJIA -1.48% fell 178.84 points, or 1.5%, to 11,897.27. The Standard & Poor's 500 Index SPX -1.74% dropped 22.45 points, or 1.7%, to 1,265.42. The Nasdaq Composite Index COMP -1.76% fell 47.26 points, or 1.8%, to 

MarketWatch | Personal Finance Daily: 10 places where houses are most affordable

Personal Finance Daily
JUNE 15, 2011

10 places where houses are most affordable

By MarketWatch

Don't miss these top stories:

Niagara Falls, N.Y., as Amy Hoak points out today, is well known for its lovely views and tourist-friendly attractions. It also has the dubious distinction of being named the "most affordable" housing market in the U.S. in Coldwell Banker's annual home listing report. The report also identifies the most expensive housing markets in the U.S., basing the ranking on a review of 2,300 markets in North America and analyzing properties listed between September 2010 and March 2011. The common factor is the listing price for a four-bedroom, two-bath house. In Niagara Falls, that would be about $60,820. At the top of the most expensive list: Newport Beach, Calif., where the average listing price for a four-bedroom, two-bath house is about $2.5 million.

The extremes of the most affordable and most expensive are interesting, no doubt. But most of us don't live in a world — or even a neighborhood — of extremes. However, the report does reveal some useful information. First, there were 775 U.S. markets where listings averaged $200,000 or less. That's good news for potential homebuyers. The report also gives some clues as to why some markets are so "affordable." They still suffer from weak economies and some have an overabundant housing supply. See if your town made either list.

Anne Stanley , Managing Editor, Personal Finance

The 10 most affordable U.S. home markets

Niagara Falls, N.Y., is well known for its beautiful views, which bring tourists from all over into its city limits. But here's something you might not have known: It also has the most affordable housing market in the country.
Read more: The 10 most affordable U.S. home markets.

The 10 most expensive U.S. cities to buy a home

Six of the 10 most expensive housing markets in the country are in California, according to Coldwell Banker's annual Home Listing Report, released Wednesday.
Read more: The 10 most expensive U.S. cities to buy a home.

These investment products are too risky for most

The sales of complex and risky structured products rose 46% last year to a record $49.5 billion, and regulators are warning Wall Street firms about selling them and average investors about buying them.
Read more: These retirement products are too risky for most.


Market's chart pattern shows trouble in the house

The complex Three Peaks and a Domed House Pattern suggests a rough market ahead.
Read more: Market's chart patter shows trouble.

Is low volume actually bullish?

I argued last week that low trading volume doesn't have to be bearish. But some are now arguing that the low volume means that the bull market is still alive. What do the data say?
Read more: Is low volume actually bullish?

Why the big money isn't always the smart money

Year after year, Wall Street types mock the supposed rubes and suckers who make up Mom and Pop investors. But if you feel outgunned by the pros, you shouldn't be, writes Brett Arends
Read more: Why the big money isn't always the smart money.

Small businesses barely keeping afloat

For multinational corporations, the economy has rarely been better, but for entrepreneurs who run small businesses, hard times persist, says Rex Nutting.
Read more: Small businesses barely keeping afloat.


Industrial production inches up 0.1% in May

Industrial production edged up a slender 0.1% in May, the second straight month of little to no gain, the Federal Reserve reported Wednesday.
Read more: Industrial production inches up in May.

SEC seeks stronger post-Madoff audits

Broker-dealers that don't use outside custodians may face tougher examinations, the Securities and Exchange Commission said Wednesday as part of the agency's reform efforts after the Bernard Madoff scandal.
Read more: SEC seeks stronger post-Madoff audits.

June home-builder index falls to nine-month low

Home-builder confidence deteriorated in June, hurt both by the glut of cheaper existing homes on the market as well as rising building material prices, a trade association says.
Read more: June home builder index falls to nine-month low.

June Empire State index plunges to negative figure

Manufacturing activity deteriorates sharply in the New York region in June, raising concern that the slowdown seen in the factory sector in May could be a contraction rather than a temporary soft patch.
Read more: June Empire State index plunges.

U.S. consumer prices climb 0.2% in May

The price of consumer goods rose 0.2% in May as the cost of food, clothing and autos all accelerated, offsetting the first decline in energy prices in 11 months, according to the latest government data.
Read more: Consumer prices climb in May.

Greeks go on strike as debt fears escalate

Worries over Greece's debt crisis escalate Wednesday after euro-zone officials are unable to agree on a solution and as thousands of Greeks join a 24-hour general strike to protest against the government's latest austerity measures.
Read more: Greeks go on strike as debt fears escalate.

The Economist : THE BUTTONWOOD GATHERING - A world unbalanced

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America and China at a crossroad: Rebalancing the world's two biggest economies

The health of the global economy is, in many ways, a function of the robustness of its two biggest economies -- America and China. Since the global financial crisis, the Chinese economy has been one of the few engines of global growth. But its surging economy fed inflation, which is now running at its fastest pace in years. Can China’s leadership engineer a “soft landing” and slow its economy without stalling it? Can America, burdened with huge debts and persistently high unemployment, shake off its economic doldrums without government stimulus?
On October 26th-27th 2011, The Economist will convene The Buttonwood Gathering, bringing together global thought leaders, practitioners and provocateurs in the international finance community to tackle the challenge of how to put the global economic order on a more balanced footing.

Join the debate with leading experts including:

THe Washington Post | Post Politics News & Analysis: Ethanol subsidy survives in Senate

The Washington Post
newsletter header
Top Stories
FILE - In this May 24, 2006, file photo, a tanker leaves the Tall Corn Ethanol plant after loading up with ethanol in Coon Rapids, Iowa. The Environmental Protection Agency is expected to approve higher concentrations of ethanol for newer vehicles, raising the maximum blend of the corn-based fuel with gasoline from 10 percent to 15 percent as soon as Wednesday, Oct. 13, 2010. (AP Photo/Charlie Neibergall, File)

Ethanol subsidy survives in Senate

But most Republican senators voted to repeal the tax credit, breaking with their party’s longtime stance against higher taxes.
Texas Gov. Rick Perry speaks during a book signing for his new book 'Fed Up!' during a stop in Tyler, Texas on Friday, Nov. 12, 2010. (AP Photo/Tyler Morning Telegraph, Jaime R. Carrero)

Room for One More

Texas Gov. Rick Perry (R) said he is giving serious thought to a run for president on Fox News yesterday. Read Perry’s profile

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