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Dec 16, 2011

Gerald Celente - Yahoo Finance - the Moral of MF Global - 14 December 2011

NYT Global Update: Military Police Clash With Egyptian Protesters

Global Update


TOP NEWS

Military Police Clash With Egyptian Protesters

By DAVID D. KIRKPATRICK
Angry protestors hurled Molotov cocktails at the empty Parliament on Friday, and hundreds of judges threatened to quit over violence around the ballot-counting.

Impatient Protesters Convulse Syria as Russia Offers New Resolution

By NADA BAKRI
Hundreds of thousands demonstrated Friday as Bashar al-Assad's regime faced a surprise Security Council resolution that called on all antagonists in the conflict to begin negotiations.

Monti Wins Confidence Vote in Italy's Lower House

By RACHEL DONADIO and GAIA PIANIGIANI
Prime Minister Mario Monti of Italy won a confidence vote on Friday, speeding up the parliamentary passage of a budget bill aimed at restoring market confidence in the Italian economy.
World

Slide Show: Wukan Residents Continue Their Protest

Protests against land seizures continue in the small fishing village of Wukan, in China's Guangdong Province.
Opinion

Op-Ed Contributor

In Iraq, Abandoning Our Friends

By KIRK W. JOHNSON
The Iraqis who loyally served us are under threat. We must give them refuge.
WORLD

U.S. Transfers Last Prisoner to Iraqi Government

By CHARLIE SAVAGE
Ali Musa Daqduq is accused of helping to orchestrate a January 2007 raid that killed five American soldiers.

U.S. Marks End to 9-Year War, Leaving an Uncertain Iraq

By TIM ARANGO
Officials conducted a modest ceremony in Baghdad days before the last troops' exit, which will end the United States' most ambitious and bloodiest military campaign since Vietnam.

In Baghdad, Panetta Leads Uneasy Moment of Closure

By THOM SHANKER, MICHAEL S. SCHMIDT and ROBERT F. WORTH
The military is departing a country where insurgents continue to attack American soldiers and militants with Al Qaeda still regularly carry out devastating attacks against civilians.
BUSINESS

Angry Salvos on Euro Pact Sail Across the Channel

By LIZ ALDERMAN
As ratings agencies raise heat on France, a cross-Channel spat has escalated into a full-blown war of words, with Paris turning its wrath on Britain.

RIM Stock Hits Eight-Year Low

By IAN AUSTEN
Shares in Research in Motion fell 12 percent after the company announced that its new line of BlackBerrys would be delayed.

Caviar Migrates Beyond the Caspian

By RAPHAEL MINDER
As new farms ramp up in countries as divergent as China, Spain and the United Arab Emirates, they hope to change the dynamics of caviar, popularizing the product while expanding production and sales.
TECHNOLOGY

Your Life on Facebook, in Total Recall

By JENNA WORTHAM
The social network is rolling out a revamped profile feature called Timeline that makes a user's entire history of photos, links and other items much more accessible with a single click.

Judge Dismisses Twitter Stalking Case

By SOMINI SENGUPTA
A federal judge dismissed a criminal case against a man accused of stalking a religious leader on Twitter, saying the Constitution protected "uncomfortable" speech on such bulletin-boardlike sites.

Indictment of 55 in Cybercrime Ring Expected Friday

By SARAH MASLIN NIR
A $2 million scheme was said to have victimized some of the city's top philanthropists, whose financial information was stolen.
SPORTS

Barcelona Gets Bayer, While Real Must Face Moscow

By THE ASSOCIATED PRESS
Defending champion Barcelona got the luck of the draw Friday and will play Bayer Leverkusen in the last 16 of the Champions League.

When the Present Held Riches Galore

By CHRISTOPHER CLAREY
Despite the unsavory revelations and all the haggling over future revenues, there was an abundance of sports moments to cherish in 2011.

Taking the Measure of the Year's Victors

By ROB HUGHES
Soccer's true champions of 2011 were the marvelous men of F.C. Barcelona and the indomitable women of Japan.
U.S. NEWS

At Manning Hearing, Investigator Refuses Recusal

By SCOTT SHANE
Pfc. Bradley Manning's lawyer has claimed that the Army's investigating officer is biased.

U.S. Finds Pervasive Bias Against Latinos by Arizona Sheriff

By MARC LACEY
An investigation that lasted more than two years singled out Sheriff Joe Arpaio as helping to nurture his department's "culture of bias."

As Romney Steps Cautiously, Gingrich Duels With Others

By JEFF ZELENY and JIM RUTENBERG
The seven Republican contenders met in Sioux City to spar with one another, and to critique President Obama.
OPINION
Op-Ed Contributors

Keep the 'Reset' Moving

By NIKOLAS GVOSDEV and MATTHEW A. ROJANSKY
The U.S. and Russia should focus on getting their publics to understand the benefits of cooperation for both sides.
Op-Ed Contributor

A Man of the Past

By H.D.S. GREENWAY
Gingrich's claim that the Palestinians were "an invented people" - and by implication not worthy of a country of their own - broke new ground.
Op-Ed Contributor

Coming Out of the Swamp

By VICTOR EROFEYEV
The mass demonstration last Saturday in Moscow was not an "opposition" rally but a reasonable program for a review of our system of governance.

DealBooK | DealB%K: S.E.C. Says Former Fannie and Freddie Executives Misled Investors


Friday, December 16, 2011
TOP STORY
U.S. Suit Says 6 Executives at Loan Giants Misled Investors: The Securities and Exchange Commission has brought civil actions against six former top executives at the mortgage giants Fannie Mae and Freddie Mac, saying that the executives did not adequately disclose their firms' exposure to risky mortgages in the run-up to the financial crisis. The case is one of the most significant federal actions taken against top executives at the center of the housing bust and ensuing financial crisis. Fannie Mae and Freddie Mac have been lightning rods in Washington as symbols of the excessive risk-taking that pushed the country into an economic downturn. The agency filed complaints against three former executives at Fannie Mae – its chief executive, Daniel H. Mudd; chief risk officer, Enrico Dallavecchia; and executive vice president, Thomas A. Lund. Freddie Mac's former chief executive, Richard F. Syron; Patricia Cook, its chief business officer; and its executive vice president, Donald J. Bisenius, were also named in a separate complaint.
DEALBOOK HIGHLIGHTS
Zynga Falls Below I.P.O. Price: Zynga's shares opened higher in their trading debut on Friday. But the stock later fell below its initial public offering price of $10, ending the day at $9.50.
Sowing Zynga's Riches:
Sowing Zynga's Riches: The owners of Zynga stand to fare quite well with the initial public offering. The I.P.O., which raised $1 billion, values the company at $7 billion.
A Muddy Situation for Fortress: A cloud hangs over Fortress Investment Group, after its chief Daniel Mudd, the former head of Fannie Mae, was charged with fraud for understating the subprime exposure at the mortgage giant.
S.E.C. Accuses Real-Life 'Rudy' of Fraud: The S.E.C. on Friday accused 13 people, including the real-life inspiration behind the movie "Rudy," of running a penny-stock pump-and-dump investment scheme that reaped $11 million in illicit profit.
Regulator Wants To Curb Use of Customer Cash: In the wake of the MF Global bankruptcy, Bart Chilton, a Democratic member of the Commodity Futures Trading Commission, is calling on Congress to bar brokerage firms from investing customer money altogether, expect in United States Treasuries, which offer the government's seal of approval.
Carlyle Sells Diversified Machine to Platinum Equity: Carlyle is selling Diversified Machine after building up the car parts maker from assets purchased in a 2005 bankruptcy auction.
Credit Agricole to Sell Private Equity Unit: Credit Agricole agreed to sell its private equity unit to Coller Capital, as the European financial firm looks to bolster its capital.
Trader in UBS Scandal Drops His Lawyer: Kweku M. Adoboli, the former UBS trader charged with fraud and false accounting, has dumped his law firm days before his next court hearing where he was expected to enter a plea.
Apollo Global Management to Buy Chemicals Business for $1.4 Billion: Apollo Global Management agreed on Friday to buy the Belgian chemicals company Taminco from a rival private equity firm, CVC Capital Partners, for $1.4 billion.
BUZZ TRACKER
Fitch: No Solution to Euro Crisis In a note on Friday, the ratings agency said: "Following the EU Summit on 9-10 December, Fitch has concluded that a 'comprehensive solution' to the eurozone crisis is technically and politically beyond reach."
Honey, We Shrunk Wall Street Morgan Stanley on Thursday became the latest Wall Street firm to announce job cuts. Richard X. Bove, the bank analyst, says more downsizing is yet to come, estimating that "at least another 150,000 will be fired in 2012."
Who Could Lead Fortress? If Daniel Mudd steps down as chief executive of Fortress Investment Group, as a result of the Securities and Exchange Commission case against him when he was C.E.O. of Fannie Mae, who might replace him? Business Insider speculates that it might be Stuart Bohart, Fortress's president of liquid markets and a senior managing director.
LOOKING AHEAD
The managing director of the International Monetary Fund, Christine Lagarde, travels to China next week. On Tuesday, Jefferies Group reports its fourth-quarter results.


From the Desk of Nick Nicolaas - Mining Interactive: Bralorne Intercepts 10.4 Grams Gold per tonne over 4.4 Meters – Mine Facts and Potential



Bralorne Gold Mines LTD.

 TSX VENTURE: BPM - OTCQX: BPMSF 
FRANKFURT: GV7
CANADIAN GOLD PRODUCTION
 
NEAR GOLD BRIDGE, SOUTH-WESTERN BRITISH COLUMBIA

BK3 DEVELOPMENT INTERCEPTS 10.4 GRAMS AU PER TONNE OVER 4.4 METERS
  • The underground development driven to access the BK-3 intersected the target mineralized zone on November 30, 2011.  The zone was cross-cut at elevation 3800 feet in an incline driven off of the main decline;
     
  • The overall un-cut average grade is 10.44 grams per tonne over 4.4 meters (0.304 ounce per ton gold over 14.6 feet;
     
  • The un-cut average grade of 39 muck samples collected from 213 tons of material is 11.83 grams per tonne (0.345 ounce per ton);
     
  • The BK-3 mineralized zone will be further explored by sub-drifting along the zone east and west from the incline at the 3800 ft. elevation.  The main decline has 30 meters remaining to target depth and is planned to intersect the same zone at 3700 foot elevation.




Dear Fernando:


Let’s be clear about the facts and potential (Blue Sky) of the Bralorne Mine:

“Bralorne is one of the richest historic producing western Canadian gold mines”
  1. To date the Company’s Management has been focussed on getting this gold mine producing again.  Under the guidance of its Chief Operating Officer Dr. Mat Ball, this was accomplished in May of this year at 100 tpd with expected cash flow @ $1,300 gold of +/- $9 million per year.  At this time the Company has enough ore to last them for 5 years at the sustainable 100 tpd rate at which they are now operating
     
  2. The Bralorne mine is permitted for 500 tpd which @ $1,300 gold would be +/- $50 million cash flow per year and at 250 tpd +/- $23 million cash flow a year (Note: yes either scenario is serious blue sky potential, my friend);
     
  3. In the old mine at the 6,000 foot level there is, historically and thus NOT NI43-101 compliant, 500,000 ounces of gold however, management rightly decided to focus at the gold potential between the 800 foot level and the surface.  The Company focus now is on surface drilling and exploration closer to the surface rather than spending free cash on the historical 500,000 ounces/Au 6,000 feet down.  As well as drilling from surface they are entering the BK zone from the old mine Adit from one side at the 800 foot level and from a Decline on the 400 foot level on the other side.
     
  4. By switching its Primary Focus to exploring the developing BK vein and zone, its free cash is spent effectively towards its serious long-term growth potential.  The BK zone and vein are situated in a land package named ‘the King-Bralorne Block’ (The King-Bralorne Block was previously not owned by Bralorne and consequently it had never been explored);
     
  5. The Company has a very aggressive growth strategy which was confirmed by its recent arms-length ‘Preliminary Assessment Update’ showing strength moving into the future.  The next job at hand is to prove up enough ore to first go to 250 tpd production and eventually - - - 500 tpd;
     
  6. Importantly, the Company clearly realizes that the Bralorne Story has to be told worldwide.  Last month it listed on the OTC-QX and now the stage is set to name-brand the Company in that large US investor market space.  With its aggressive start in investors relations and communication, brokerage houses and others are now following the Bralorne Story  and commencing to cover the Company;   >
     
  7. Cash flow each month is +/- $1 million.

The Company has only about 28 million shares outstanding and the shares are trading at 80 cents or so  - - the Question is - - -  “where can you buy shares at this price of a production company throwing off cash flow to use for its own ‘blue sky potential’???

Bralorne: Production, Exploration and Growth
Stay Tuned - - - as the Bralorne Gold Production Story Continuous to Excite!!

Regards from Vancouver,
Nick L. Nicolaas
Mining Interactive "Ahead of the Pack"
Visible Gold Content in Core from
Bralorne Surface Drill-hole SB11-21 (51.47 oz/Au per-ton over 3.1 feet)

Bralorne Nov 2 2011 core pic
Nick L. Nicolaas
(604) 657-4058
nick@mininginteractive.com

Financial and Forex Info News | Kitco New York Market Close Report


New York Market Close Dec 16/11 05:23 PM EST
Metals
Bid
Ask
Change
Low
High
Gold
1599.20
1600.20
28.60
1.82%
1581.50
1602.00
Silver
29.74
29.84
0.46
1.57%
29.21
30.01
Platinum
1417.00
1427.00
14.00
1.0%
1400.00
1437.00
Palladium
621.00
627.00
3.00
0.49%
615.00
634.00

Stocks and Markets in the News | Latin America Markets: Mexican stocks edge higher to snap losing streak.


MarketWatch
ALERT (INDUSTRY: FINANCIAL SERVICES)
Latin American Markets: Mexican stocks edge higher to snap losing streak

By Carla Mozee MarketWatch
12/16/2011 05:18:14 PM



Mexican stocks advance Friday, recovering from a pullback that had followed a warning from a rating agency about the already beleaguered euro zone. 
See full story

Stocks and Markets in the News | Wall Street at close: U.S. stock indexes end two-week win streak

By Kate Gibson

NEW YORK (MarketWatch) - U.S. stocks on Friday finished with weekly losses after a rating agency warning on Europe pulled the plug on what began as an upbeat session on a confidence vote in Italy. "Europe continues to dominate," said Michael Gibbs, director of equity strategy at Morgan Keegan. The Dow Jones Industrial Average DJIA -0.02% fell 2.42 points, or less than 0.1%, to 11,866.39, leaving it down 2.6% from last Friday's close. The S&P 500 SPX +0.32% added 3.89 points, or 0.3%, to 1,219.65. The Nasdaq Composite COMP +0.56% climbed 14.32 points, or 0.6%, to 2,555.33.

Reuters - Daily Investor Update: S&P 500 ends up; U.S. data offers hope



LATEST NEWS
S&P 500 ends up; U.S. data offers hope
NEW YORK (Reuters) - An early rally in stocks fizzled, leaving major averages with modest gains on Friday, as Wall Street was torn between hope that U.S. economic data points to better times ahead and fear Europe's debt crisis will engulf major world economies. | Full Article

Fitch: comprehensive euro zone deal "beyond reach"
December 16, 2011 04:38 PM ET
ROME/BERLIN (Reuters) - The credit rating agency Fitch said on Friday it thought a comprehensive solution to the euro zone's debt crisis was beyond reach, putting six euro zone economies including Italy on watch for potential near-term downgrades. | Full Article
SEC sues former top Fannie, Freddie executives
December 16, 2011 03:02 PM ET
NEW YORK (Reuters) - Six former top executives at Fannie Mae and Freddie Mac were sued by U.S. regulators on charges of misleading investors about the mortgage finance companies' exposure to risky home loans in the run-up to the 2008 financial crisis. | Full Article
Layoffs hit Soros investment company
December 16, 2011 02:06 PM ET
BOSTON (Reuters) - Soros Fund Management, the investment company of billionaire George Soros, has laid off a handful of analysts and portfolio managers in recent months. | Full Article
Inflation eases, creates space for Fed stimulus
December 16, 2011 01:28 PM ET
WASHINGTON (Reuters) - Consumer prices were flat in November as Americans paid less for cars and gasoline, a further sign of a cooldown in inflation that could give the Federal Reserve more room to help a still weak economy. | Full Article
US TOP NEWS
Lawmakers seek deal to extend payroll tax cut
December 16, 2011 04:20 PM ET
WASHINGTON (Reuters) - U.S. lawmakers were trying to forge a compromise deal on payroll tax relief for 160 million Americans on Friday as the House of Representatives overwhelmingly approved legislation to keep government agencies operating through September, 2012. | Full Article
U.S. withdrawal in Iraq rolls into final act
December 16, 2011 04:30 PM ET
BAGHDAD (Reuters) - American soldiers signed over their last military base to Iraqi officials on Friday with the U.S. troop pullout drawing to an swift end nearly nine years after the invasion that ousted Saddam Hussein. | Full Article
Suspected WikiLeaks source appears in court
December 16, 2011 04:25 PM ET
FORT MEADE, Maryland (Reuters) - An American Army intelligence analyst suspected of being behind the largest leak of classified documents in U.S. history made his first court appearance on Friday, sitting stone-faced as military prosecutors launched into their case against him. | Full Article
Barry Bonds gets 2 years probation in steroids probe
December 16, 2011 04:34 PM ET
SAN FRANCISCO (Reuters) - Home-run king Barry Bonds avoided a prison sentence on Friday over a single criminal conviction related to an investigation of steroids in sports, a punishment one prosecutor called a slap on the wrist. | Full Article
Exclusive: Google CEO's inner circle: Meet the L Team
December 16, 2011 04:26 PM ET
SAN FRANCISCO (Reuters) - The most powerful group at Google Inc used to be known simply as "The OC," short for operating committee. Now, it goes by a more telling name: "L Team," short for Larry's Team. | Full Article
HEALTH NEWS
States to weigh in on basic health coverage
Many surgeons don't discuss end-of-life care: study
FDA requires precaution on Boston Sci stent
Pfizer's Lyrica helps in restless legs syndrome study
Fewer veterans with PTSD using anti-anxiety drugs

NYT Afternoon Business News: Angry Salvos on Euro Pact Sail Across the Channel


BUSINESS

Angry Salvos on Euro Pact Sail Across the Channel

By LIZ ALDERMAN
As ratings agencies raise heat on France, a cross-Channel spat has escalated into a full-blown war of words, with Paris turning its wrath on Britain.

R.I.M. Stock Hits Eight-Year Low

By IAN AUSTEN
Shares in Research in Motion fell 12 percent following the company's announcement that it will delay the launch of a new series of BlackBerry phones.

100-Watt Bulb on Its Way Out, Despite Bill

By DIANE CARDWELL
A rider on the omnibus spending bill prohibits the Energy Department from enforcing new efficiency standards on light bulbs. But the industry is unlikely to change course now.

CBS News | Political Hotsheet Top Stories: Report: Perry "retired" early to get pension

The CBS News Political Hotsheet newsletter

CBS POLITICAL HOTSHEET TOP STORIES    



   
The Texas Tribune reports that the Texas governor's salary increased by nearly $100,000 after he formally retired in January
Read full story
Report: Perry

Pipeline still a sticking point in payroll talks Congressional leaders say they're making progress in deal to extend tax cut, but controversial oil pipeline provision remains an issue

Traditional lightbulbs not going away ... yet Compromise struck on budget bill to delay implementation of higher standards that would have rendered bulb obsolete

Anti-spending group launches early-state ad blitz Group funded by TD Ameritrade founder and Chicago Cubs owner Joe Ricketts plans $400,000 ad buy in Iowa, N.H. and S.C.

Iowa debate: Did Bachmann just save Romney? John Dickerson: A strong debate performance by the second-tier candidates may have seriously weakened Gingrich