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Oct 10, 2012

GATA | THE GATA DISPATCH -October 10, 2012.: Gold suppression researcher Dimitri Speck interviewed by Lars Schall

Gold suppression researcher Dimitri Speck interviewed by Lars Schall

11:16p ET Wednesday, October 10, 2012

GATA's friend the German financial journalist Lars Schall today interviews German market analyst and GATA consultant Dimitri Speck about gold price suppression. Speck is author of the gold price suppression study "Geheime Goldpolitik" ("Secret Gold Policy") and partner in the European investment house Staedel Hanseatic. The interview is a 24-minute video headlined "Gold Market Manipulation Explained" and it's posted at Schall's Internet site here:

http://www.larsschall.com/2012/10/10/gold-market-manipulation-explained/

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

The New York Politics -October 10, 2012-: As Romney Repeats Trade Message, Bain Maintains China Ties

The New York Times

October 10, 2012

Politics



As Romney Repeats Trade Message, Bain Maintains China Ties

Mitt Romney has kept up his criticism of China even as the equity firm he co-founded, Bain Capital, maintains its China-related holdings.
Frank Schubert, second from left, in a post-meeting prayer. He is leading the campaign against same-sex marriage initiatives in four states.

One Man Guides the Fight Against Gay Marriage

In the roiling state-by-state war, the campaign against same-sex marriage has been masterminded largely by Frank Schubert, a former corporate public relations executive.

More Politics

Romney Refines Message on Taxes and Abortion

The Republican nominee also said he had no plans to pursue new laws limiting abortion, as he continued to embrace a more moderate political persona.
An image from the Obama campaign's Bird Bird commercial, which was made after Mr. Romney criticized Mr. Obama for talking about

Obama Campaign Tells Supporters: Steady On

A new ad featuring Big Bird was just one element of a broader effort by President Obama and his team to reassure supporters that his campaign had not lost its intensity or focus.
Patrons at the Crimson and Gold bar in Denver saw Mitt Romney and President Obama debate last week.

Networks Like Split-Screens in Debates, Even if the Candidates Don't

Campaigns have had limited success trying to control how television networks show their candidates during debates, especially in split-screen and reaction shots.
The Caucus

Obama Campaign Says Romney Is Misleading Voters on Abortion

President Obama's campaign on Wednesday accused Mitt Romney of "cynically and dishonestly" trying to hide his real position on abortion and contraception.

The Caucus

McCaskill Ads Feature Victims of Sexual Assault

Senator Claire McCaskill's campaign new ads that feature women who said they were rape victims who criticized Mr. Akin for his opposition to allowing sexual assault victims to have access to emergency contraception.

Federal Appeals Court Reinstates Limits on Montana Campaign Contributions

One month before Election Day, a federal appeals court temporarily blocked a lower court ruling that would have allowed unlimited campaign dollars to flow into state-level campaigns in Montana.

Obama Says He Was 'Too Polite' at Debate

President Obama continued his own critique of his debate performance last week, telling Tom Joyner, a talk radio show host, on Wednesday that he was "too polite" with Republican presidential candidate Mitt Romney.

Voter Registration Gives Democrats Edge in Many Swing States

Democrats had the advantage in nearly every swing state where voter registration is cataloged by political party. But in most states, Republicans are cutting into the Democratic margins that helped sweep Barack Obama into office four years ago.
ADVERTISEMENT

Election 2012 iPhone App

A one-stop destination for the latest political news, from The Times and other top sources around the Web. Plus opinion, polls, campaign data and video.
FiveThirtyEight
Oct. 9: Romney Erases Obama's Convention Bounce in Forecast
Following another day of strong polling on Tuesday, Mitt Romney advanced into the best position in the FiveThirtyEight forecast since the party conventions.

Multimedia

Interactive Feature: The First Presidential Debate
Follow along with this interactive replay of the debate, using fact checks and graphics take a closer look at the candidates' assertions and attacks.
Photographs: The 2012 Presidential Campaign, Week by Week
Every week during the 2012 presidential campaign, The Times will be posting a new slide show recapping the events of the past seven days.
Graphic: State of the Race for the Senate
Updated analysis by The New York Times and details on the six races considered tossups.

DealBook Afternoon Edition -October 10, 2012-. J.P. Morgan Ordered to Pay $18 Million to Oil Heiress's Trust



Wednesday, October 10, 2012
TOP STORY
J.P. Morgan Ordered to Pay $18 Million to Oil Heiress's Trust An Oklahoma judge found J.P. Morgan was "grossly negligent and reckless" in its administration of one client's trust account and ordered the bank to pay $18 million and punitive damages, to be set at a later date.
  • DEALBOOK »
  •  
    DEALBOOK HIGHLIGHTS
    Political Haggling Thwarts Merger of Aerospace Giants EADS and BAE Systems said that they had reached agreement on the terms for a merger, but had not been able to win government support for the deal.
    Collapse of Aerospace Merger Deals Blow to Army of Advisers For the small battalion of bankers and lawyers advising EADS and BAE Systems, the end of merger talks between the two aerospace giants brings no small amount of anguish over lost fees.
    True Religion Puts Itself Up for Sale True Religion Apparel, the struggling maker of upscale denim, says it is exploring its strategic options, after having received approaches from potential buyers.
    Bain Capital to Buy Apex Tool for $1.6 Billion The private equity firm co-founded by the Republican presidential candidate Mitt Romney has agreed to buy the Apex Tool Group, a maker of hand and power tools, for $1.6 billion.
    Fraser & Neave Rejects $1.1 Billion Bid for Hospitality Unit Weeks after agreeing to sell its brewing unit to Heineken for $4.6 billion, the Singaporean conglomerate Fraser & Neave has rejected a $1.1 billion bid for its serviced-apartment business while its shareholders are weighing an outright takeover offer from a Thai billionaire.
    LOOKING AHEAD
    Economic Reports Data to be released on Thursday will include weekly jobless claims, trade deficit for August and import prices for September.
    Corporate Earnings Companies scheduled to report quarterly results on Thursday include Safeway.
    In the United States On Thursday, the Agriculture Department will issue monthly estimates of crop supply and demand.
    Overseas On Thursday, Group of 7 finance ministers will meet in Tokyo. 

    DealBook Video
    Business Day Live: Official Warmth and Public Rage for Merkel in Athens
    Business Day Live: Official Warmth and Public Rage for Merkel in Athens Angela Merkel's attempt at a "Nixon moment" in Greece. | Why analysts think the "fiscal cliff" could be a "fiscal slope." | A bigger paycheck on Wall Street.

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The New York Times Afternoon Update -October 10, 2012-.

The New York Times
October 10, 2012

Afternoon Update



TOP NEWS

Armstrong Was Central Figure in Doping Ring, Officials Say

By JULIET MACUR
Lance Armstrong, a seven-time Tour de France winner, doped and administered doping products, the United States Anti-Doping Agency said on Wednesday. Mr. Armstrong denies ever doping.

At Hearing on Libya Attack That Killed Envoy, Partisan Rift

By MICHAEL R. GORDON
House Republicans on Wednesday accused the State Department of shortchanging security at the American diplomatic mission in Benghazi, Libya.

Everyone Eats There

By MARK BITTMAN
California's Central Valley is our greatest food resource. So why are we treating it so badly?
DealBook

Political Haggling Thwarts Merger of Aerospace Giants

By MARK SCOTT and NICOLA CLARK
EADS and BAE Systems said that they had reached agreement on the terms for a merger, but had not been able to win government support for the deal.

A Changed Court Revisits Affirmative Action in College Admissions

By ADAM LIPTAK
The Supreme Court debated the nature and value of diversity in higher education and the role of the courts in policing how much weight admissions officers may assign to race.
Opinion

The Conversation

Getting Out the Veeps

By DAVID BROOKS and GAIL COLLINS
Brooks and Collins on what Biden can do for President Obama and what it's like to debate with Paul Ryan.
Business

Video: A Look at Fall Television

TimesCast Media+Tech: The strategy behind the networks' fall dramas. | Electric motorcycles. | Online advertisers jockey for clicks in real time. | The best iPhone 5 apps.
BUSINESS

Chinese Company Sets New Rhythm in Port of Piraeus

By LIZ ALDERMAN
Cosco, a Chinese company, is running its part of the port of Piraeus in a much different way from the way the Greek company nearby operates. Some see it as an example; others see it as a menace.
DealBook

J.P. Morgan Ordered to Pay $18 Million to Oil Heiress's Trust

By SUSANNE CRAIG
An Oklahoma judge found J.P. Morgan was "grossly negligent and reckless" in its administration of one client's trust account and ordered the bank to pay $18 million and punitive damages, to be set at a later date.
Wheels Blog

Toyota Issues Sweeping Global Recall

By CHRISTOPHER JENSEN
The action, over a fire hazard, affects 7.4 million vehicles worldwide, including 2.5 million in the United States.

Germany's Central Bank Escalates Dispute Over Bond Buying

By JACK EWING
The Bundesbank's outspoken dissent on the European Central Bank's bond buying program is becoming an increasing annoyance to Mario Draghi, the E.C.B.'s president.

Wal-Mart Stock Hits New High as U.S. Strength Continues

By REUTERS
Wal-Mart Stores Inc touted strong sales at its U.S. grocery stores and a big start to holiday layaway sales on Wednesday, helping to send shares of the world's largest retailer to an all-time high.

Money Show Investors Daily Alert - October 10, 2012-: Opposite Day Returns to China

Investors Daily Alert


Jim Jubak on MoneyShow.com

Today's Top Pros' Top Picks

Today's Gurus' Views & Strategies
Uneasy About Easy Money, Peter Schiff

Today's Charts in Play

Investor Clinic

Ideas from Around the World

Today's Featured Videos & Exclusive Interviews
How a Pro Deals with Volatility, John Buckingham

Business in Vancouver | BIV Today's Businews News -October 10, 2012-: ICBC staff to strike over workloads


Politics and Policy

ICBC North Vancouver

ICBC staff to strike over workloads

Unionized ICBC adjusters have given 48-hour notice of their latest job action, calling for a return to claims centre adjuster levels established in a 1996 workload study.

Technology

   

Telus strengthens health division with Quebec acquisition

Vancouver's Telus Corp. (TSX:T) has announced the acquisition of KinLogix, the largest provider of cloud-based electronic medical records (EMR) in Quebec.

Hospitality and Tourism

 

Gastown named world's fourth most stylish neighbourhood

New York fashion magazine Complex has ranked Vancouver’s Gastown as the fourth most stylish neighbourhood in the world.

Forestry

B.C. government commits to timber supply plan

Responding to a report calling for better use of B.C.'s "marginal forests," B.C.'s government has committed to 11 new actions to increase B.C.'s mid-term timber supply.

Small Business

 

Canadian baby boomers are entrepreneurial: survey

A new TD Canada Trust survey provides new evidence that entrepreneurialism thrives in Canada.

Real Estate and Development

Vancouver home starts slip in September

Housing starts in Metro Vancouver slipped slightly in September, according to Canada Mortgage and Housing Corp. (CMHC).

Getting the most out of biv.com

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European Markets at Close Report | MarketWatch -October 10, 2012-: Europe stocks drop as IMF warns over debt crisis

By Sara Sjolin, MarketWatch 

LONDON (MarketWatch)—European stock markets dropped Wednesday, as the International Monetary Fund issued a warning about the impact of the euro-zone debt crisis and as Greece’s equity benchmark retreated 3.5%. 

The Stoxx Europe 600 index XX:SXXP -0.55%  lost 0.6% to 268.71, following a 0.5% decline in the prior session, although bank shares in London advanced on eased capital rules. Investors also trained their focus on the failure of a proposed merger in the defense-aerospace sector. 


Alcoa’s earnings top estimates Alcoa kicks off earnings season with positive news, beating both profit and revenue estimates. (Photo: Getty Images.) 

“It’s ‘glass-half-empty day’ where everybody seems to be picking on any news flow that is negative. We’re also about to go into earnings season, which is a concern,” said Frances Hudson, global thematic strategist at Standard Life Investments.
In the spotlight, shares of EADS NV FR:EAD +5.29% traded up 5.3% in Paris, while BAE Systems PLC UK:BA -1.38% , sank 1.4% in London, after talks over a $45 billion merger between the two defense firms broke down amid government opposition. See: EADS-BAE merger collapses on government opposition
Away from London, banks posted some of Wednesday’s biggest losses, as the IMF cast dark clouds over the sector’s future. The fund warned that if European governments fail to solve the debt crisis, the region’s banks could be forced to sell as much as $4.5 trillion of assets. See: IMF: Europe banks may have to shed $4.5T of assets .
“This scenario was only if the measures that the European Union talked about this summer don’t get pushed through, so it’s a little early to make that call,” Hudson said. “You can’t accuse the policy makers of being speedy, but you have to allow time for things to play out.”
On Tuesday, the IMF slashed its global-growth estimates for 2012 and 2013 and forecast that several euro-zone countries will miss their deficit targets.
Shares of Spain’s Banco Popular Español SA ES:POP -4.47%  dropped 4.5% in Wednesday dealings, while Italy’s Banca Monte dei Paschi di Siena SpA IT:BMPS -3.83%  lost 3.8%.
In Madrid, the IBEX 35 index XX:IBEX -1.00%  pulled back by 1% to 7,668.00, while Milan’s FTSE MIB index XX:FTSEMIB -0.41%  fell 0.4% to 15,440.63.

Reuters Enlarge Image
Christine Lagarde, head of the International Monetary Fund.
U.K. banks bucked the negative trend, rallying after a Financial Times report that the Financial Services Authority eased capital rules for banks in an effort to boost lending. A representative from the regulator confirmed the report and said efforts to ease the U.K. rules had been under way for some time. See: FSA eases rules for U.K. banks to spur lending.
Lloyds Banking Group PLC UK:LLOY +3.99%   LYG +4.72%  gained 4% and Royal Bank of Scotland Group PLC UK:RBS +2.10%   RBS +2.20%  added 2.1%, as Liberum Capital said those banks would benefit the most given their rapid deleveraging.

Patience with Portugal

Some news flow from European policy makers was also on investors’ minds. The region’s finance ministers said, after concluding a two-day meeting in Luxembourg late Tuesday, that Portugal has been given until 2014 to achieve its fiscal goals. The move will pave the way for the country to receive its next tranche of bailout aid, they said.
Portugal’s PSI 20 index PT:PSI20 -0.95%  dropped 1% to 5,310.47.
Elsewhere in the euro zone, the Athens General Index GR:GD -3.64%  tanked 3.6% to 799.42 as Greece’s main public- and private-sector labor unions called a 24-hour strike for Oct. 18 in protest of new austerity measures. See: Greek general strike called for Oct. 18: reports
In the U.S., aluminum maker Alcoa Inc. AA -4.71%  kicked off the earnings season late Tuesday, with the blue chip’s adjusted profit and revenue beating analyst expectations. See: Alcoa swings to 3rd-quarter loss on charges
“It’s very early in terms of earnings, and we need to see what the strengths are. All indications are that earnings might be quite weak,” said Standard Life’s Hudson.
U.S. stocks traded lower on Wall Street, amid weakness in shares of Chevron Corp. CVX -4.26%  and Alcoa. Read more in Market Snapshot.

Wednesday’s movers

Shares of SAP AG DE:SAP -1.94%  dropped 2% in Frankfurt, after Barclays cut the software company to a rating of equal weight from overweight previously. The DAX 30 index DX:DAX -0.41%  closed 0.4% lower at 7,205.23.
In London, the gains for banks were not enough to push the main equities benchmark index into positive territory. The FTSE 100 index UK:UKX -0.58%  lost 0.6% to 5,776.71. See: Oil firms weigh on U.K. stocks; banks climb.
ARM Holdings PLC UK:ARM -2.85%  fell 2.9%, as Credit Suisse initiated coverage with a neutral rating, saying a “lack of near-term catalysts” balanced out ARM’s “strong earnings reliability.”
And in Paris, the CAC 40 index FR:PX1 -0.50%  moved 0.5% lower to 3,365.87. Compagnie de Saint-Gobain SA FR:SGO -2.04%  lost 2%, after UBS cut its rating on the building-materials firm to neutral from buy. 

Sara Sjolin is a MarketWatch reporter, based in London.

GATA | THE GATA DISPATCH -October 10, 2012-.: Norcini sees central bank support for gold, rise above $1,800

GATA | THE GATA DISPATCH -October 10, 2012-.

Norcini sees central bank support for gold, rise above $1,800

11:20a ET Wednesday, October 10, 2012
Dear Friend of GATA and Gold:
Futures market analyst Dan Norcini today tells King World News where he sees the support and resistance lines in gold. Norcini thinks central bank buying will continue to support the market and that the price will punch through $1,800 eventually. An excerpt from the interview is posted at the King World News blog here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/10/10_M...