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Mar 9, 2012

GATA | THE GATA DISPATCH: Big traders' gold short-covering is largest in 5 years, GGR says

Big traders' gold short-covering is largest in 5 years, GGR says

Submitted by cpowell on 02:01PM ET Friday, March 9, 2012. Section: Daily Dispatches 4:56p ET Friday, March 9, 2012
Dear Friend of GATA and Gold:
A flash from Gene Arensberg at the Got Gold Report says the big commercial traders in gold and silver used the recent plunge in prices to cover a lot of their short positions. Arensberg writes that the short-covering by the big traders in gold was the largest in almost five years. The flash is posted at the Got Gold Report here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

Gerald Celente - Goldseek Radio - 09 March 2012

NYT Global Update: U.S. Extends Its Run of Strong Job Growth Another Month

Global Update


U.S. Extends Its Run of Strong Job Growth Another Month

The United States added 227,000 jobs in February, the third straight month of gains over 200,000, while the unemployment rate stayed at 8.3 percent, the Labor Department reported.

Next Time, Greece May Need New Tactics

If the country confronts a new cash crunch in coming years, as many expect, it will not be able to use strong-arm tactics to force losses on its bondholders.

U.S. and Afghanistan Agree on Transfer of Prisoners

The United States will greatly accelerate its handover of detainees to Afghan control, but retain a veto over who can be released.

Slide Show: Daw Aung San Suu Kyi Campaigns in Myanmar

Daw Aung San Suu Kyi, the Nobel Peace Prize laureate, traveled more than 200 miles and spoke at more than a half-dozen rallies while campaigning for her first political post.


The Politics of Pandering in India

The Congress Party's defeat in Uttar Pradesh stems from its attempt to pander to the state's Muslims.

Japan's Nuclear Energy Industry Nears Shutdown, at Least for Now

All but two of Japan's 54 commercial reactors have been idled since the nuclear disaster a year ago, following the earthquake and tsunami, and it is not clear when they can be restarted.

Japan Looks Beyond Its Borders for Investors

Japan, once a manufacturing powerhouse known for exports, is finding it must do what it has long resisted: welcome foreign manufacturers.

Syrian Kurds Flee Into Iraqi Refugee Limbo

The number of Kurds fleeing to Iraq from Syria has so far been small, but if Syria's largest ethnic minority were to unite, it could shift the momentum against President Bashar al-Assad.

India's Central Bank Cuts Reserve Requirements for Banks

In a move meant to alleviate growing stress in its financial system, India's central bank on Friday sharply reduced the amount of money banks have to hold in reserve.

In China, Inflation Eases as Growth Slows

New data offer more signs of a cooling economy and give policymakers room to support growth.

Shoppers Bypass Salespeople in Favor of Touch Screens

Retailers like Macy's and Nordstrom are accommodating younger consumers who prefer using technology to research products instead of asking employees.

Hacker, Informant and Party Boy of the Projects

On the Internet he was Sabu, a notorious celebrity who led a scattered tribe of politically motivated "hacktivists." Then he slipped into the role of federal informant.

New Apps Connect to Friends Nearby

Apps that let users find friends whenever they are nearby are to be on display at the South by Southwest technology, music and film conference.
Media Decoder Blog

U.S. Pressing Publishers to Alter E-Book Price Policy

The Justice Department is threatening to sue Apple and five big publishers over a pricing model for electronic books that it says constitutes collusion and violates antitrust laws.

Championships Open With Question of Identity

There's sniping surrounding the nomination of American-born hurdler Tiffany Porter as British team captain in the year of the London Olympics.

Vonn Secures World Cup Title and Place in History

The American skiier's success puts her near milestones set by some of the sport's biggest stars and gives her the potential to top the 2,000-point landmark this season.

Formula One Season's One Sure Thing: No Sure Things

The 2012 Formula One season, which begins with the Australian Grand Prix in Melbourne on March 18, is looking to be one of the least predictable ever.

South Carolina Lt. Governor Resigns Amid Criminal Investigation

The investigation of Lt. Gov. Ken Ard centers on whether he spent campaign funds on personal expenses, including iPads and football tickets.
The Long Run

As Governor, Romney's C.E.O. Style Could Irk Lawmakers

For Massachusetts officials used to the glad-handing of local politics, Mitt Romney was an unfamiliar breed. His approach could offer hints of how a possible President Romney might deal with Congress.

As Stars Rally for Candidate, Rival Objects

Elizabeth Warren has drawn support for her Massachusetts Senate campaign from all over the country, a fact her opponent is trying to use against her.
Op-Ed Contributors

Fukushima Could Have Been Prevented

Enhanced accident management and improvements in design are not an either/or choice. Both improve safety. Both are needed.
Op-Ed Contributor

How to End Mass Atrocities

Most mass killing is motivated by political gain - and negotiations can help stop it.
Op-Ed Contributor

A 'Frozen Conflict' That Could Boil Over

Simmering animosity between Azerbaijan and Armenia could ignite a regional war with global complications.

MarketWatch | Weekly Roundup: top 10 stories March 5 - 9


Weekly Roundup
MARCH 09, 2012

MarketWatch top 10 stories March 5 - 9

By MarketWatch

NEW YORK (MarketWatch) — U.S. stocks rounded out the week on an up note, with two of the three major indexes posting gains for the week.

Only the blue-chip Dow Jones Industrial Average (DJIA) was unable to take back big losses from Tuesday's session, closing out the week 0ff 0.4%.

The Nasdaq Composite Index (COMP) closed the week up 0.4%, while the S&P 500 Index (SPX) eked out a 0.1% gain.

Also please be sure to watch our Week Ahead videos:

 U.S. Week Ahead: Fed, consumer sentiment

 Asia Week Ahead: Japan, India rates in focus

 Europe's Week Ahead: U.S. retail sales, earnings

Greg Morcroft, assistant managing editor.

Apple unwraps new iPad, due out March 16

Apple Inc. (AAPL) debuted a new version of its iPad tablet on Wednesday, featuring a high-definition screen, faster processor and 4G network connectivity on some models, with prices starting at the same level as the current devices. At a media event in San Francisco, Apple executives touted the new iPad as a major update to the relatively new product line. The first iPad was introduced in April 2010 and the iPad 2 was released last March. Apple sold more than 40 million units of the device last year, and several analysts expect that number to top 60 million this year. Read about new iPad launch, on MarketWatch

5 of the world's cheapest dividend-paying stocks

Brighter economic prospects are attracting U.S. investors to shares of foreign companies, but most of the attention is being given to big multinational players that happen to be based outside of the United States. As a result, many companies that lack such global clout are being neglected even though they offer substantial dividends and value. Here are five more underappreciated ADRs from Morningstar. Read about inexpensive dividend payers overseas, on MarketWatch

Greece clears one hurdle only to face next

Greece has just secured write-down pledges from its private creditors in a historic bond swap, clearing the last hurdle to a second bailout to avoid default. But the country isn't out of the woods yet. Fears are growing that Greece, the epicenter of the debt crisis in Europe, may actually need a third rescue package due to lack of growth prospects. Many are also concerned that Athens may need to restructure its public debt. Adding to this uncertainty are upcoming parliamentary elections. Read more about the problems Greece still faces, on MartketWatch

Best U.S. employment growth in 12 years

The U.S. jobs market has been on a tear for the past six months, ever since the near-disastrous showdown over the debt ceiling. By almost every measure, the employment picture has brightened considerably since those dark days. For instance, the Bureau of Labor Statistics reported Friday that the number of Americans who had jobs jumped by 428,000 in February following a 847,000 gain in January. That's according to a survey of about 60,000 households. Read MarketWatch commentary on latest U.S. jobs data

China's not so miraculous recovery

The ability of China to support the seriously compromised global economic and financial system is overestimated. The unsound foundations of Chinese economic and financial strength largely have been ignored. But then all food tastes good to the starving man. Driven by spending on unproductive investments, China's growth is economically destructive and ultimately carries the seeds of its own demise. Read Outside the Box column, on MarketWatch

Super Tuesday highlights Republican divide

Mitt Romney and Rick Santorum were set to continue their bare-knuckle brawl for the Republican nomination after Super Tuesday, as Romney eked out a narrow victory in Ohio and Santorum took Tennessee. By carrying Super Tuesday's marquee state of Ohio, Romney puts into his column a Rust Belt state, home to both blue-collar workers and social conservatives. But after a brutal night that saw wins by each candidate in important states, neither Republican hopeful could claim a lock on the nomination or a knockout blow to the other's campaign. Read MarketWatch outlook for GOP race after Super Tuesday

Six tricks to spend less, save more for retirement

People will save more if you show them a photograph of their future selves, according to recent research. "The problem between now and later is the question of how much do we care about our future selves," said Dan Ariely, author of several books including "The Upside of Irrationality" and a behavior economics professor at Duke University. "If you care a lot you might save more; if you care only a little, you would save not so much. But if you saw an image of yourself at age 70 you might care more about your future self." Read Bob Powell's take on retirement investing, on MarketWatch

Don't count on stocks as an inflation hedge

You've heard it so often you can probably repeat it in your sleep: Equities are the best protection against inflation. But academic research, old and new, completely flies in the face of this conventional "wisdom." It establishes clearly that stocks are not a very good hedge at all against inflation, particularly high inflation. Even Mr. Stocks for the Long Run himself, Jeremy Siegel, acknowledges that. Read Howard Gold's column for the Trading Deck, on MarketWatch

How to play hot silver market and not get burned

Silver prices are outpacing gold this year, prompting cautious investors to wonder how to play the market while guarding against the white metal's well-worn path of volatility. Demand for silver as an investment is on the rise, particularly as gold prices "move out of the reach of the lower middle- to working-class investors in the emerging world," according to Phillips. The iShares Silver Trust, backed by silver bullion, has climbed more than 20% year to date. But interest in the white metal can sway either way. Mark Leibovit, chief market strategist at, attributed some volatility to market manipulation, which he also calls "financial terrorism." Read MarketWatch story on risks and rewards of investing in silver

After three years, we're all hooked on free money

This week's rates decision marks three years without any change in British interest rates. But it marks three years of something else as well — and potentially more dangerous — near-zero interest rates. Stability has much to commend it, particularly in economics. It allows businesses to plan ahead, and it allows investors to predict what kind of returns they are going to get from different assets. There is nothing wrong with central banks keeping rates at the same level for a long time, if that is what they believe the economy requires. But free money? This is what the United States, the United Kingdom, Japan and now the euro zone as well effectively have. In truth, that is a dangerous experiment. And one that looks unlikely to end well. Read Matthew Lynn's London Eye column, on MarketWatch

Dealbook | DealB%K Afternoon Edition: Greek Credit-Default Swaps Are Activated

Friday, March 9, 2012
Greek Credit-Default Swaps Are Activated Greece's debt restructuring will prompt payouts on credit-default swaps tied to the country's government bonds. The decision by the International Swaps and Derivatives Association ends months of speculation that Greece's default might not set off the swaps, a result that could have undermined their role as insurance against debt defaults.
    El Paso Shareholders Approve Kinder Morgan Takeover Casting aside the controversy over the deal, investors of the natural gas pipeline operator approved Kinder Morgan's $21.1 billion bid.
    In Debt: Dynegy Bankruptcy Examiner Finds Fraudulent Transfer Stephen J. Lubben says that fraudulence conveyance finding by a court-appointed examiner means that Dynegy Holdings can sue its non-bankrupt parent company to undo the transfer.
    Lloyds' Chief Eligible for Share Bonus António Horta-Osório, the chief executive of Lloyds Banking Group, who waived his 2011 payout, could receive a share bonus of $5.3 million this year, as part of a long-term incentive plan.
    Quest Software Agrees to Buyout The offer from Insight Venture Partners, which values Quest at roughly $2 billion, will give shareholders $23 per share in cash, a 19 percent premium to the company's closing price on Thursday.
    HSBC Taps New Head of Global M.&A. Alain Renaud will take over as global head of mergers and acquisitions at HSBC after Andrew Bell left the European firm to join the American investment bank Jefferies.
    London Stock Exchange to Buy Stake in Clearinghouse The London Stock Exchange Group agreed on Friday to buy up to a 60 percent stake in LCH.Clearnet, an independent clearinghouse for financial transactions, for $612 million.
    Barclays Awards $10.3 Million to C.E.O.
    Barclays Awards $10.3 Million to C.E.O. Barclays said Friday it paid its chief executive, Robert E. Diamond Jr., £6.3 million, or $10.3 million, for last year, with his pay falling as profit at the big British bank slipped.
    Ziggo Plans I.P.O. to Raise $983 Million The Dutch cable company said it was planning to raise up to $983 million through an initial public offering, the largest listing in Europe this year.
    Morgan Stanley Banker Pleads Not Guilty William Bryan Jennings, the Morgan Stanley banker accused of stabbing a New York cab driver and making racially charged statements on his way home from the bank's charity auction in December, pleaded not guilty to assault and hate crime charges on Friday, Bloomberg News reports.
    Goldman's Home on Main Street Wall Street and Main Street don't always mix. But Goldman Sachs could soon count its Salt Lake City offices - on Main Street, blocks from the headquarters of the Mormon Church - as its fourth-largest location. "Chief executive Lloyd Blankfein told employees of plans to hire an additional 300 workers by year's end" in the area, Reuters reports.
    Greek Debt Is Restructured in Deal With Lenders The deal with private sector lenders clears the way for the release of bailout money from Europe and the International Monetary Fund that will save the Greece from imminent default, reports Landon Thomas Jr. for The New York Times.
    Wal-Mart's Bid for Massmart Wins Court Approval Wal-Mart's takeover of Massmart cleared a major hurdle on Friday, when an antitrust court in South Africa rejected the government's bid to scuttle the $2.4 billion deal. The ruling by the Competition Appeal Court, which also ordered that 500 fired workers be reinstated, was a crucial step in Wal-Mart's plan to tap growth in Africa.
    Overseas The Geneva International Motor Show runs through March 18. The CeBIT computer fair is taking place in Hanover, Germany through Saturday.
DealBook Video
Business Day Live: New Hiring
Business Day Live: New Hiring What new hiring means for the United States economy; keeping economic data secret before it is made public; and James B. Stewart on why Americans hate bailouts, even when they work.

Reuters Daily Investor Update: Fannie, Freddie regulator slashes executive pay

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

Wall Street up on jobs data, brushes off Greek default
NEW YORK (Reuters) - Stocks advanced on Friday as investors brushed off the technical default by Greece and focused instead on another strong monthly jobs report.

Greece averts immediate default, markets skeptical
ATHENS (Reuters) - Greece averted the immediate threat of an uncontrolled default on Friday, winning strong acceptance from its private creditors for a bond swap deal which will eat into its mountainous public debt and clear the way for a new bailout.

Job creation heralds stronger recovery
WASHINGTON (Reuters) - U.S. employers added more than 200,000 workers to their payrolls for a third straight month in February, a sign the economy was strengthening and in less need of further monetary stimulus from the Federal Reserve.

El Paso holders OK Kinder Morgan deal amid protests
HOUSTON (Reuters) - Amid chanting and shouts of protest at a raucous shareholder meeting, El Paso Corp investors approved the natural gas pipeline company's $23 billion takeover by rival Kinder Morgan Inc .

Morgan Stanley banker pleads not guilty in cab driver assault
STAMFORD, Connecticut (Reuters) - A senior Morgan Stanley banker pleaded not guilty on Friday to hate crime, theft and assault charges stemming from an incident last December that police say escalated from a dispute over a $200-plus cab fare to a knife attack on the driver.

Regulators approves Cap One-HSBC deal
(Reuters) - Bank regulators approved Capital One Financial's acquisition of HSBC's $30 billion U.S. credit card business, the Office of the Comptroller of the Currency announced on Friday.

Insight: Coke, Conoco, Icahn among big fish on MF Global hook
CHICAGO (Reuters) - Oil major ConocoPhillips, billionaire investor Carl Icahn, Coca Cola and giant energy trader Mercuria are among a crop of previously unnamed, high-profile former clients of bankrupt futures brokerage MF Global, an examination of claims filed in the case shows.

New York Times paid former CEO $24 million
(Reuters) - Former New York Times Co Chief Executive Janet Robinson received a total payout of nearly $24 million after she left the newspaper publisher at the end of last year, according to a regulatory filing on Friday.

Exxon CEO says more fracking rules hinder development
HOUSTON (Reuters) - State and local regulations in shale oil- and natural gas-rich plays across the United States provide sufficient oversight, compared to the "dysfunctional" federal layers that could hinder development as well as the economic recovery, Exxon Mobil Corp Chief Executive Rex Tillerson said on Friday.

Fannie, Freddie regulator slashes executive pay
WASHINGTON (Reuters) - The regulator for Fannie Mae and Freddie Mac , responding to political pressure, on Friday slashed salaries for the chief executives of the two firms and ruled out bonuses for many top executives.