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Aug 4, 2012

GATA | THE GATA DISPATCH: Bullion banks shedding shorts ahead of price explosion, Turd Ferguson says

Bullion banks shedding shorts ahead of price explosion, Turd Ferguson says

10:58a ET Saturday, August 4, 2012

Interviewed for GoldMoney by the economist Alasdair Macleod, gold and silver market letter writer Turd Ferguson remarks that recent declines in gold and silver have been manufactured to help relieve bullion banks of their short positions, a development he thinks will soon will lead to an explosion in prices. While recommending continuing acquisition of the monetary metals -- real metal in hand -- Ferguson warns against short-term trading in the metals because their markets are so manipulated. Ferguson believes that "the great Keynesian experiment" in fiat money is ending and will be replaced with some form of gold backing for currencies. The interview is 27 minutes long and is posted in audio format at GoldMoney here:

http://www.goldmoney.com/podcast/turd-ferguson-and-alasdair-macleod-on-t...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

GATA | THE GATA DISPATCH: GGR finds confirmation of gold's rally in 'managed money' short covering

GGR finds confirmation of gold's rally in 'managed money' short covering

9a ET Saturday, August 4, 2012

Analyzing gold futures market data, the got Gold Report's Gene Arensberg finds confirmation that short covering by "managed money" was responsible for last week's rise in the the gold price, fulfilling his prediction from the last GGR:

http://www.gotgoldreport.com/2012/08/gold-and-silver-disaggregated-cot-r...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

NYT Today's Headlines | Top News: Hiring Picks Up in July, but Data Gives No Clear Signal

The New York Times
August 4, 2012

Today's Headlines



TOP NEWS

Hiring Picks Up in July, but Data Gives No Clear Signal

By CATHERINE RAMPELL
America added more jobs than expected, a pleasant surprise after months of bad news. But the underlying details from July ranged from unimpressive to outright discouraging.

For Rebel Fight in Syrian City, Baking Bread Is Urgent Task

By DAMIEN CAVE
Bread is a mainstay of the Syrian diet, eaten with every meal, and in Aleppo, paralyzed by two weeks of war, the bakery lines show that basic commerce has become a battleground.

Street Stops in New York Fall as Unease Over Tactic Grows

By JOSEPH GOLDSTEIN and WENDY RUDERMAN
The number of times the city's police stopped and frisked people has dropped more than 34 percent as sergeants have grown wary of pushing for the stops and officers have expressed anxiety about them.
QUOTATION OF THE DAY
"I think this is about as good as it's going to get."
PAUL ASHWORTH, an economist at Capital Economics, on the pace of hiring for the rest of the year.

Sports

Video Feature: A Simple Bicycle Race

In the match sprint, riders go around a 250-meter track three times. Typically, they go slowly at the start, until someone makes a move.
Opinion
Op-Ed Contributor

Military Hazing Has Got to Stop

The military needs to make a distinction between "corrective training" and abuse.
WORLD

Beach Essentials in China: Flip-Flops, a Towel and a Ski Mask

By DAN LEVIN
In China, where pale skin is a sign of status and solar protection something of an obsession, stretchy ski masks are catching on as beachwear.

Afghan Officials Cite Revenge Killings in Latest Outbreak of Ethnic Hatred

By ALISSA J. RUBIN and SANGAR RAHIMI
The executions of at least nine Pashtuns in Afghanistan have been linked to the killings of two Hazaras, raising fears of continued revenge killings.

Ex-K.G.B. Banker and Putin Critic Plans to Sell Assets

By ANDREW E. KRAMER
Aleksandr Y. Lebedev, who has tweaked Vladimir V. Putin, Russia's president, for years, said police and regulatory checks on his businesses were so intense that he would sell them.
U.S.

Powerful Shaper of U.S. Rules Quits, With Critics in Wake

By JOHN M. BRODER
Cass R. Sunstein tested his theories of human behavior and economic efficiency in the laboratory of the federal government, with few proposed rules escaping his gaze or his editor's pen.

College Town Built on Football Fears Fallout From a Scandal

By RICHARD PÉREZ-PEÑA
Businesses near the Penn State campus fear the child molestation scandal and the resulting sanctions that will weaken the football program for years could spell economic trouble for years.

Tribe Revives Language on Verge of Extinction

By KIRK JOHNSON
An American Indian language once relegated to near extinction now has an online dictionary.
POLITICS

In Reid's Taunting of Romney, Taxes Are Just a New Opening

By MICHAEL D. SHEAR and RICHARD A. OPPEL Jr.
The Senate majority leader Harry Reid, a Democrat, has long been publicly contemptuous of Mitt Romney, a fellow Mormon.
Campaign Memo

For the President, a Birthday Party With a Price Tag

By JODI KANTOR
President Obama will celebrate his 51st birthday in true political fashion, holding at a party at his Chicago home with a bunch of strangers who made campaign donations to be there.

In Tight Iowa Race, Romney Struggles to Excite G.O.P. Base

By TRIP GABRIEL
The lack of zeal for Mitt Romney may affect turnout in a state that is considered up for grabs.
BUSINESS
DealBook

S.E.C. Gets Encouragement From Jury That Ruled Against It

By PETER LATTMAN
The jury that acquitted a former Citigroup executive in the Securities and Exchange Commission's case against him included with the verdict a statement supporting financial investigations.

Bond Traders in Europe Deal in High Expectations, and Fear

By KATRIN BENNHOLD
Traders, admittedly unsure at times, know their decisions can have an outsize effect on economic policy.
DealBook

Trading Program Ran Amok, With No 'Off' Switch

By JESSICA SILVER-GREENBERG, NATHANIEL POPPER and MICHAEL J. DE LA MERCED
As a torrent of faulty trades spewed from a Knight Capital Group trading program on Wednesday, no one at the firm managed to stop it for more than a half-hour.
TECHNOLOGY

Techies Break a Fashion Taboo

By CLAIRE CAIN MILLER
In Silicon Valley, successful women are increasingly unafraid to dress well. Standing out, they say, has its advantages.
Bits Blog

Silicon Valley Sounds Off on Failed Cybersecurity Legislation

By NICOLE PERLROTH
Three cybersecurity experts talk about a bill that had the potential to set security standards for the computer networks that govern the nation's critical infrastructure.
Bits Blog

Apple's Schiller Testifies in Smartphone Patent Trial

By NICK BILTON
A new day of testimony in the dispute between Apple and Samsung began with a history lesson on the iPhone from Apple's Philip W. Schiller.
SPORTS

They Win Gold, but a Pot of It Rarely Follows

By DAVID SEGAL
Even competitors in popular sports are likely to find that life after gold is not very lucrative. And for the champions in sports like skeet shooting and archery, the odds are even higher.
Essay

A Buoyant Bedlam at the Olympic Park

By SARAH LYALL
Despite the efforts of the 70,000 eager volunteers, confusing signs and the park's size (618 acres) present a challenge in making it to an Olympic event.
Inside the Rings

Ethiopian Delivers Punishing Kick in 10,000-Meter Race

By JERÉ LONGMAN
Tirunesh Dibaba's 10,000-meter victory made her a three-time Olympic gold medal winner and may establish her as history's greatest female distance runner.
ARTS
Theater Review

Two Solitary Souls, Adrift Far From Home

By CHARLES ISHERWOOD
An aging Russian general living a life of quiet exile in Paris meets a young waitress who shares his sense of isolation.
Critic's Notebook

At the Buffalo Bill Museum, a Showdown Between History and Myth

By EDWARD ROTHSTEIN
The museum, part of the Buffalo Bill Historical Center in Cody, Wyo., has been reconceived to embrace a more nuanced view of the American West.

A Gallery Atypical to Its End

By RANDY KENNEDY
The unlikely art gallery Honey Space is in its last days; the Chelsea building that has been its home is scheduled to be demolished.
NEW YORK / REGION

You Can't Shake the Knicks Out of an Utterly Mad Fan Like Spike Lee

By MICHAEL POWELL
The filmmaker, who made the Brooklyn of his childhood a living, breathing character in six movies over 26 years, says he cannot be swayed to root for the Brooklyn Nets.

Amid Inquiry Into Cheating, Stuyvesant Principal Will Retire

By MARC SANTORA
Stanley Teitel, who has led Stuyvesant High School for 13 years, said he wanted "time to devote my energy to my family and personal endeavors."

Break in '95 Murder Case Shows Reverberations of Using a Cooperating Witness

By BENJAMIN WEISER
A disclosure made by a former gang member meeting with prosecutors may lead to the release of five people serving long prison terms in the killing of a livery cabdriver in the Bronx.
TRAVEL

Visiting Myanmar: It's Complicated

By JOSHUA HAMMER
Over the past year, destinations in Myanmar have drawn an increasing number of tourists. But the question of whether to visit a country long ruled by a brutal military dictatorship has not gone away.
Overnighter

Tranquillity on an Island Off Cape Cod

By LAURA HOUSE
Home to few cars, little night life and only about 18 year-round residents, Cuttyhunk Island may be an ideal destination for those who really want to escape.
Journeys

Sailing San Francisco Bay Like a Pro

By CHRISTOPHER HALL
Next year, San Francisco will host the America's Cup. But you don't have to wait until then to taste the experience - and some sea spray - yourself.
EDITORIALS
Editorial

Stuck in Place

Job growth in July wasn't enough to lower the unemployment rate. The market lacks forward momentum that the government could and should provide.
Editorial

Mentally Retarded and on Death Row

The Supreme Court must stay a Texas execution and stop the state from breaching the Constitution.
Editorial

Closer Scrutiny of For-Profit Schools

For-profit schools are generally a bad deal for taxpayers and for the underprivileged students they often recruit through deceptive means. It is imperative that Washington regulate this industry.
OP-ED
Op-Ed Columnist

The Curious Case of Chavis Carter

By CHARLES M. BLOW
The case of a young man supposedly taking a gun and shooting himself in the head while handcuffed in the back of a police car truly "defies logic."
Op-Ed Columnist

Congress Goes Postal

By GAIL COLLINS
The House and Senate are on summer vacation. Let's see what they accomplished before taking a five-week recess.
Op-Ed Columnist

Frankenstein Takes Over the Market

By JOE NOCERA
These runaway rapid-fire trading binges are getting out of hand. We had yet another this week!
ON THIS DAY
On Aug. 4, 1914, Britain declared war on Germany while the United States proclaimed its neutrality.

Reuters - Daily Investor Briefing corresponding to Friday, August 3, 2012



Wall Street ends at highest level since early May
NEW YORK (Reuters) - Wall Street rallied to its highest level since early May on Friday on a stronger-than-expected U.S. jobs report and hope European authorities would act to contain the euro zone debt crisis.



Hiring picks up but not enough to sideline Fed
WASHINGTON (Reuters) - Employers hired the most workers in five months in July, but an increase in the jobless rate to 8.3 percent kept prospects of further monetary stimulus from the Federal Reserve on the table.



U.S. Treasury says to sell $4.5 billion in AIG stock
WASHINGTON (Reuters) - The U.S. Treasury Department said on Friday it will sell $4.5 billion worth of American International Group stock, taking another step toward unwinding its position in the financial crisis bailout programs.




Insight: Morgan Stanley brokers chafe at new system's glitches
By Lauren Tara LaCapra and Joseph A. Giannone and Ashley Lau



Spain inches towards a full EU bailout
MADRID (Reuters) - Spanish Prime Minister Mariano Rajoy inched closer on Friday to asking for an EU bailout for his country, but said he needed first to know what conditions would be attached and what form the rescue would take.

Reuters blogging platform hacked, false Syria blog posted
(Reuters) - Thomson Reuters said the blogging platform of the Reuters News website was compromised on Friday and a false posting purporting to carry an interview with a Syrian rebel leader was illegally posted on a Reuters' journalist's blog.


Procter & Gamble profit tops forecast, plans buybacks
(Reuters) - Procter & Gamble Co posted a higher-than-expected quarterly profit despite a drop in sales, as the world's largest household products maker tries to prove that it can make the improvements needed to move past recent disappointments.


Apple reveals rare ad-spend on iPad, iPhone
SAN JOSE, California (Reuters) - Apple Inc marketing chief Phil Schiller told a jam-packed courtroom on Friday that Apple's strategy in maintaining its market momentum is to "make the product the biggest and clearest thing in advertising."



Nasdaq expects "significant" new expenses over Facebook IPO
NEW YORK (Reuters) - Nasdaq OMX Group Inc expects to incur costs well above the $62 million it has set aside to pay back firms harmed by the glitch-ridden Facebook IPO, as it fights lawsuits and updates its systems, it said in a regulatory filing on Friday.


Buyers eye Knight Capital as some customers return
(Reuters) - Struggling Knight Capital Group Inc's future remained in flux on Friday, with major clients saying they would resume trading with the company, while potential buyers were still combing through the company's books with an eye toward a deal.