Pages

Search This Blog

Translate

Search Tool




Oct 9, 2013

America On A Horse With No Investments: Paraphrasing America On A Horse With No Name.

 With Due Respect To  Its Real Meaning 
Fernando Guzmán Cavero

After nine days I let the horse run free
'Cause the desert had turned to sea
There were plants and birds and rocks and things
there was sand and hills and rings
The ocean is a desert with it's life underground
And a perfect disguise above
Under the cities lies a heart made of ground
But the humans will give no love
You see I've been through the desert on a horse with no name
It felt good to be out of the rain
In the desert you can remember your name
'Cause there ain't no one for to give you no pain 


Gerald Celente - Trends In The News - "The Inept & Incompetent!" - (10-7-13).

Pierre Lassonde Must Not Know The Right Central Bankers: GATA | THE GATA DISPATCH OCTOBER 9, 2013.

Pierre Lassonde must not know the right central bankers

8:21a ChST Thursday, October 10, 2013

Gold mining entrepreneur Pierre Lassonde, a former chairman of the World Gold Council, this week told MineWeb's Geoff Candy that central bankers hardly ever think about gold, much less think about the manipulation of its price.

"When I was chairman of the World Gold Council," Lassonde says, "one of my goals was to get closer to the central bankers and I tried to understand what goes on in their heads and try to help them with the management of their gold reserves, or their lack of reserves. ... I made many trips to China, to Beijing, to talk to the chief central banker there. ... Ninety-nine point nine percent of the central bankers I know don't even know they have gold in their vault. They don't spend one millisecond thinking about gold during the day. It's not on their agenda, so to think that they try to manipulate gold to suppress the gold price -- forget it. They don't even think about it."
MineWeb's interview with Lassonde is here:
http://www.mineweb.com/mineweb/content/en/mineweb-gold-analysis?oid=2081...

Of course maybe the central bankers known to Lassonde are not the ones known to staff members of the International Monetary Fund, who surveyed central bankers in 1999 and, in a secret report to the IMF board, reported that the central bankers were desperate to conceal their gold swaps and leases lest transparency about their gold reserves impair their surreptitious interventions in the gold and currency markets:
http://www.gata.org/node/12016

Meanwhile this week fund manager and geopolitical strategist James G. Rickards, author of the recent book "Currency Wars," who has held U.S. government security clearance, told the Canadian Broadcasting Corp.'s "The Lang and O'Leary Exchange" program that central bankers do think very much about gold. Rickards said "fine art" is a good investment these days because it "behaves the way gold would behave if central banks didn't intervene, because central banks don't care about fine art." The interview with Rickards is six minutes long and is posted at the CBC Internet site here:
http://www.cbc.ca/player/News/Business/Lang+%26+O%27Leary+Exchange/ID/24...

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

BIV Today's Business News October 9, 2013: Vancouver smartwatch maker lands $11.75 M in series B financing



Film and Entertainment

Pixar closing Vancouver studio

Pixar Canada's Vancouver studio is shutting its doors, eliminating ... READ MORE

Asia Pacific

 

Harper announces Asia Pacific fast track card for business travellers

Canadian business travellers may soon be on the fast track to Asia. The federal government ... READ MORE

Technology

 

Vancouver smartwatch maker lands $11.75 M in series B financing

Basis Science Inc., a Vancouver startup that developed a smartwatch that measures health metrics like heart rate, calories and sleep, has landed ... READ MORE

Economy and Finance

 

Infrastructure trade to triple by 2030: HSBC

Trade in infrastructure will triple by 2030 and will increase as a percentage of ... READ MORE

More News...

   

Nurses express opposition to coal expansion

Canadian consumers to demand more credit than Americans: FICO

This Week's Issue

 

Supply management keeps turkey farming profitable

Thanksgiving feast: B.C.'s annual allowable turkey production up 3%, nationwide allowable increase up ... READ MORE

MoneyShow | Investors Daily Alert October 9, 2013: Get Ready for End of Shutdown

INVESTORS DAILY ALERT
The Daily Guru
Jim Jubak on MoneyShow.com
TOP PROS' TOP PICKS
Quickel Picks: 5 PEG Values, Stephen Quickel
GURUS' VIEWS & STRATEGIES
Floating Rate Favorites, Mark Salzinger
CHARTS IN PLAY
IDEAS FROM AROUND THE WORLD
Apple's Next Growth Engine, Chris Umiastowki
Today's Featured Videos

NYT | ALERT FGC BOLSA - FGC FINANCIAL MARKETS OCTOBER 9, 2013: What Economists Think About a Possible Debt Default

The New York Times | MY ALERTS

FGC BOLSA- FGC FIN

Compiled: October 9, 2013 06:06:48 PM

Economix

What Economists Think About a Possible Debt Default
It would be very bad, according to a panel queried by the University of Chicago’s business school.

NYT | Global Update October 9, 2013: Obama Names Yellen for Fed, Just as Fiscal Battle Heats Up

The New York Times International Herald Tribune
October 9, 2013
Compiled 20:45 GMT

Global Update


TOP NEWS

Obama Names Yellen for Fed, Just as Fiscal Battle Heats Up

By JACKIE CALMES
Janet L. Yellen's nomination comes amid one of the most rancorous and fraught battles in years between the political parties over the course of the economy.

Yellen's Path From Liberal Theorist to Fed Voice for Jobs

By BINYAMIN APPELBAUM
Janet Yellen, President Obama's pick to run the Federal Reserve, has backed aggressive steps to promote employment but shown only limited willingness to tolerate higher inflation.

Europe Looks Ahead to Fed Choice

By JACK EWING
Janet L. Yellen's nomination to lead the Federal Reserve was greeted with relief by many economists far from Washington.
Technology

Video: A Conversation With Lavabit's Founder

Ladar Levison, the founder of the secure e-mail service, spoke to The Times about his confrontation with law enforcement officials who demanded full access to his customers' accounts.
Opinion

Op-Ed Contributor

Russia's Search for Itself

By VICTOR EROFEYEV
A new generation is rising in Russia, neither authoritarian, nor liberal.
WORLD

U.S. Officials Say Libya Approved Commando Raids

By MICHAEL S. SCHMIDT and ERIC SCHMITT
Libyan officials denounced the operation to capture a senior Qaeda militant, but American officials say the raid, and another to seize a suspect in the 2011 attack on a diplomatic mission, had Libya's tacit approval.

'Imperfect Intelligence' Said to Hinder U.S. Raid on Militant in Somalia

By NICHOLAS KULISH and ERIC SCHMITT
The Navy SEALs who approached the Somali coast in pursuit of a militant seen as a pivotal connection for extremists encountered more civilians than they expected, American officials said.

Lawyer Sought for Terror Suspect Held on Navy Ship

By BENJAMIN WEISER
The chief federal public defender in Manhattan asked that his office be appointed to represent the suspect, Nazih Abdul-Hamed al-Ruqai, who had been captured in Libya.
BUSINESS
The Trade

Complacency on Wall Street Could Be Worse Than a Panic

By JESSE EISINGER
Market participants don't think that the government will default on its debts, but the ideological fissures in Washington are deeper than investors grasp.

Many in G.O.P. Offer Theory: Default Wouldn't Be That Bad

By JONATHAN WEISMAN
Leaders in both parties are counting on the prospect of an economic meltdown to pull Republicans into line, but a surprisingly broad section of the party says a default poses little threat.
TECHNOLOGY
Bits Blog

A Conversation With Lavabit's Founder

By NICOLE PERLROTH
Ladar Levison, the founder of the secure e-mail service, sat down with The Times's Marcus Mabry to discuss how he has become a symbol in the backlash against government spying.

All Is Fair in Love and Twitter

By NICK BILTON
The sweet, innocent ideas and ruthless power plays that created Twitter.

Through Twitter Partnership, Comcast Hopes to Encourage TV Viewing

By BRIAN STELTER
A new feature, See It, is meant to make it easy to move from reading comments about a show to watching that show.
SPORTS
Red Sox 3, Rays 1

Red Sox Grind Rays Down and Out of the Playoffs

By TIM ROHAN
The Rays, who have thrived in win-or-go-home situations, used nine pitchers against the Red Sox in Game 4. But that still wasn't enough to escape Boston.
Tigers 8, Athletics 6

Regaining Swagger, Tigers Force a Game 5

By PAT BORZI
Jhonny Peralta and Victor Martinez homered as Detroit overcame a three-run deficit to defeat Oakland and even their series.

Another Unlikely Moment for an Unlikely Star

By BILLY WITZ
Juan Uribe lived up to his reputation for rising to the occasion at critical moments on Monday when his home run lifted the Dodgers to a series-clinching win over the Braves.
U.S. NEWS

With New Abortion Restrictions, Ohio Walks Fine Line

By ERIK ECKHOLM
Ohio has become a laboratory for a political strategy designed to discourage women from getting abortions and hamper clinic operations, without flagrantly violating Supreme Court precedent.

Boston School-Bus Drivers Return to Work Amid Uncertainty

By KATHARINE Q. SEELYE and JESS BIDGOOD
A day after they left thousands of Boston schoolchildren stranded, drivers were back, but schools warned parents to be ready with contingency plans in case of another walkout.

Uninsured Find More Success via Health Exchanges Run by States

By ROBERT PEAR and ABBY GOODNOUGH
The experience is in stark contrast to reports of widespread technical problems that have hampered enrollment in the online marketplace run by the federal government.
OPINION
Op-Ed Columnist

U.S. Fringe Festival

By THOMAS L. FRIEDMAN
What if Ted Cruz & Co. were to succeed in the shutdown showdown?
Op-Ed Contributor

Countering Al Qaeda's Message

By ED HUSAIN
The creation of a global fund to support those voices countering violent extremism could make a concrete difference.

DealBook P.M. Edition October 9, 2013: The Trade: Complacency on Wall Street Could Be Worse Than a Panic.


Wednesday, October 9, 2013

TOP STORY
John A. Boehner, the House speaker, and President Obama are at an impasse over debt negotiations, but the market remains calm.
The Trade: Complacency on Wall Street Could Be Worse Than a Panic Market participants don't think that the government will default on its debts, but the ideological fissures in Washington are deeper than investors grasp, says Jesse Eisinger of ProPublica.
  • DEALBOOK »
  •  
    DEALBOOK HIGHLIGHTS
    Nestle Is Said to Seek Buyer for Jenny Craig
    Nestle Is Said to Seek Buyer for Jenny Craig The Swiss food giant is said to be looking to sell its Jenny Craig brand, just seven years after spending $600 million to buy the weight-loss company from two private-equity firms.
    The Evolution of Verizon's Higher Bid for Its Wireless Unit
    The Evolution of Verizon's Higher Bid for Its Wireless Unit Verizon Communications made an initial offer of $95 billion for Vodafone's 45 percent stake in their enormous wireless joint venture. Over eight months, the company raised its offer by 37 percent, to $130 billion.
    Weak Opening for SFX Entertainment
    Weak Opening for SFX Entertainment The company's goal is to make money from the world of dance music, which has existed on the margins of the music industry for decades but has lately become its hottest genre.
    Men's Wearhouse Rejects $2.3 Billion Offer by Jos. A. Bank
    Men's Wearhouse Rejects $2.3 Billion Offer by Jos. A. Bank Men's Wearhouse rejected an unsolicited $2.3 billion takeover bid by Jos. A. Bank Clothiers on Wednesday, calling the proposed deal "highly opportunistic" and likely to draw antitrust scrutiny.
    Reuters Breakingviews: A Deal That Needs Some Special Tailoring Investors seem think there may be more than $85 million a year in potential savings or other sources of new profit in a merger of Jos. A. Bank and Men's Wearhouse, says Robert Cyran.
    LOOKING AHEAD
    H.P. Analyst Meeting At last year's meeting, Hewlett-Packard's chief executive, Meg Whitman, outlined the company's problems in unexpected detail, driving the price of the stock down nearly 13 percent. The stock has risen 42 percent since then, but Ms. Whitman's growth plans have yet to show much progress on revenue. Analysts will be looking for clues that her turnaround plan is gaining traction.
    Bank Earnings Season JPMorgan Chase kicks off Wall Street's third-quarter earnings season on Friday. Big United States banks have been struggling with a slump in trading and a slowdown in mortgage refinancing applications. As a result, many analysts have reduced their earnings estimates. For JPMorgan, its earnings report comes as the bank is engaged in negotiations with the Justice Department to resolve investigations into the bank's crisis-era mortgage business. JPMorgan agreed last month to pay about $1 billion to settle investigations into a huge trading loss and its credit card practices. Another big bank, Wells Fargo, also reports quarterly results on Friday.  
  •  

Wall Street at Close Report by MarketWatch October 9, 2013: Dow, S&P 500 Eke Out Gains on Hope for Budget Deal

By Kate Gibson, MarketWatch 
 
NEW YORK (MarketWatch)U.S. stocks ended mostly up on Wednesday, with the Dow industrials and the S&P 500 rebounding after a two-day hit, buoyed by talks to end the government shutdown now in its ninth day and with little more than a week to go before U.S. borrowing authority expires. 

“I think we’re getting a glimmer of hope,” said Art Hogan, a market strategist at Lazard Capital Markets LLC. “There seems to be a conversation going in the background that the way to exit this mess is a short-term lifting of the debt ceiling, and as a reward, an agreement for both sides to sit down and discuss budget issues,” he added. 


Yellen is Obama's choice as Fed chief
President Barack Obama plans to announce Wednesday he is nominating Federal Reserve Vice Chairwoman Janet Yellen to become the central bank's new leader. If confirmed, she would be the first female central bank chair. Jon Hilsenrath reports. Photo: AP. 

House leaders from both parties met on Wednesday. In addition, President Barack Obama will meet with House Republican leaders and committee chairmen, according to a statement from House Speaker John Boehner’s spokesman. 

The stock market offered little reaction to the Federal Reserve’s release of minutes from its September meeting, at which the Fed unexpectedly refrained from tapering its $85 billion in monthly asset purchases. The minutes showed most Fed members think it would still make sense to scale back bond buying this year. Janet Yellen, vice chairwoman of the Federal Reserve, was nominated Wednesday afternoon to succeed Ben Bernanke as Fed chief. 

After a 52-point drop and 76-point advance, the Dow Jones Industrial Average DJIA +0.18%  finished up 26.45 points, or 0.2%, at 14,802.98. 

The S&P 500 index SPX +0.06%  rose nearly 1 point, or nearly 0.1%, to 1,656.40, with telecommunications the best performing and consumer discretionary the laggard among its 10 major industry sectors. 

Darden Restaurants Inc. DRI -0.72% shares jumped 7.1%. The Wall Street Journal, citing people familiar with the matter, reported hedge fund Barington Capital LP had taken a 2.8% stake in the owner of the Olive Garden and Red Lobster restaurants, and was pushing for Darden to split.
Shares of Hewlett-Packard Co. HPQ +0.09%  rallied 8.9% after Chief Executive Meg Whitman said the company is poised to see “pockets of growth” in 2014. 

Alcoa Inc. AA +0.12%  rose 2% a day after the aluminum producer reported better-than-anticipated quarterly earnings. Read more on Alcoa results.
 
Shares of Jos. A. Bank Clothiers Inc. JOSB +0.71%   and Men’s Wearhouse Inc. MW +27.84%   rallied after Men’s Wearhouse spurned the former’s buyout offer.

The Nasdaq Composite COMP -0.46%   declined 17.06 points, or 0.5%, to 3,677.78. 

Decliners just outpaced advancers on the New York Stock Exchange, where 732 million shares traded. Composite volume approached 3.6 billion shares. 

U.S. stocks fell sharply in the last two sessions, with the S&P 500 ending Tuesday at the lowest level since Sept. 6, hit by worries about the government shutdown and looming debt-ceiling deadline. 

“I wish I could be watching earnings and economic data, but the goofiness in Washington is pretty much taking all the air out of the room,” said Paul Nolte, managing director at Dearborn Partners. 

“The market is starting to slowly price in a chance of default; we don’t pay our bills, everybody takes a look at the U.S. a little differently at that point. That’s part of why I think we’ll get a deal, but it’s politics not finance,” said Nolte, who believes the stock market could drop as much as 10% should politicians fail to hike the nation’s debt ceiling before an Oct. 17 deadline. 

Treasury prices fell, with the yield on the 10-year note 10_YEAR +1.25%  used in figuring mortgages and other consumer loans up 3 basis points at 2.667%. 

The dollar DXY +0.49%  gained against the currencies of major U.S. trading partners, including the yen USDJPY +0.44%  and the euro EURUSD -0.38% , while the price of dollar-denominated commodities declined, with oil futures off $1.88, or 1.8%, at $101.61 a barrel and gold futures down $17.40, or 1.3%, to close the floor session at $1,307.20 an ounce. 

Kate Gibson is a reporter for MarketWatch, based in New York. Follow her on Twitter @MWKateGibson.

Wall Street at Close Report by CNBC October 9, 2013: Dow, S&P Eke Out Gains, but DC Worries Weigh; Obama Nominates Yellen.


The Dow and S&P 500 narrowly avoided a three-day losing streak in volatile trading Wednesday, but the ongoing anxiety over the political gridlock in Washington kept a damper on gains.
President Obama officially nominated Federal Reserve Vice Chair Janet Yellen to replace Ben Bernanke as the chairman of the U.S. central bank.

Yellen is widely perceived as being more dovish on monetary policy and investors expect her to take a slower path towards a reduction of the Fed's bond-buying program.
 (Read more: Cramer: Yellen 'everything our country has to offer')
  Name Price   Change %Change
DJIA Dow Jones Industrial Average 14802.98
 
26.45 0.18%
S&P 500 S&P 500 Index 1656.40
 
0.95 0.06%
NASDAQ Nasdaq Composite Index 3677.78
 
-17.06 -0.46%

The Dow Jones Industrial Average closed in positive territory, led by AT&T and IBM. Earlier, the blue-chip index hovered near a three-month low and briefly broke below its 200-day moving average.
The S&P 500 squeezed out a small gain, while the Nasdaq suffered its worst three-day losing streak in more than three months.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, ended below 20.

Among key S&P sectors, telecoms led the gainers, while consumer discretionary slipped.

To read full Report Click: http://www.cnbc.com/id/101098729