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Nov 9, 2014

Gerald Celente - Trends in The News : Interviewd by RT News: Boom Burst on November 6, 2014.



Gerald Celente - RT News Boom Bust - November 6, 2014 

Published on Nov 7, 2014

Sanctions are an act of war. Gerald has made some pretty bold remarks on American militarism, specifically claiming it will lead to a global holocaust. He tells us where he thinks the next military threat for the US will be and what he thinks is in store for the economic relationship between the US and Russia.

The Trends Journal® is the World's #1 source for the most important trends that are shaping the future. The Trends Journal® shows you how these trends will affect your life, how to profit from them, and what to do to avoid pitfalls. Regardless of business or profession, the Trends Journal® provides insights, strategies and opportunities to help you navigate these treacherous, unprecedented times.

www.TrendsJournal.com

GATA | THE GATA DISPATCH - November 9, 2014: UBS to settle allegations over precious metals trading | Fraser Murrell: Permanent gold backwardation means a worldwide financial meltdown | GATA dollar, euro, pound, or bitcoin?.

UBS to settle allegations over precious metals trading

Submitted by cpowell on  Sunday, November 9, 2014. Daniel Schfer and James Shotter
Financial Times, London
Sunday, November 9, 2014

http://www.ft.com/intl/cms/s/0/428e1400-6804-11e4-bcd5-00144feabdc0.html

UBS is to settle allegations of misconduct at its precious metals trading business alongside a planned agreement between UK and US authorities and seven banks over accusations of foreign exchange market rigging.
The Swiss lender is one of a group of banks including Barclays, Citigroup, HSBC, JPMorgan, and Royal Bank of Scotland that are set to announce an agreement of at least L1.5 billion on Wednesday to settle forex rigging allegations with the UK's Financial Conduct Authority.

 Several US authorities are also expected to be part of the settlement, including the Office of the Comptroller of the Currency and the Commodity Futures Trading Commission in the US, while Switzerland's Finma may also take part. Bank of America Merrill Lynch is also expected to settle but only with US authorities.
UBS is expected to strike a settlement over alleged trader misbehaviour at its precious metals desks with at least one authority as part of a group deal over forex with multiple regulators this week, two people close to the situation said. They cautioned that the timing of a precious metals deal could still slip to a date after the forex agreement.
Regulators around the world have alleged that traders at a number of banks colluded and shared information about client orders to manipulate prices in the $5.3 trillion-a-day forex market.
UBS has previously disclosed that it launched an internal probe of its precious metals business in addition to its forex investigation. It declined to comment for this article.
Unlike at other banks, UBS's precious metals and forex businesses are closely integrated. The business units have joint management and the bank's precious metals staff -- who mainly trade gold and silver -- sit on the same floor as the forex traders.
One person familiar with UBS's internal probe said that the bank found a small number of potentially problematic incidents at its precious metals desk.
Andre Flotron, the head of UBS's gold desk in Zurich, has been on leave since January for reasons unspecified by the lender.
Mr Flotron has not been accused of wrongdoing and has never responded to any requests for comment. He has labelled his professional status on his LinkedIn profile as being "on leave, keen to return in due time."
The precious metals market has this year become the latest trading area to be subjected to heavy regulatory scrutiny and allegations of price rigging. The FCA fined Barclays L26 million in May after an options trader was found to have manipulated the London gold fix.
BaFin, Germany's financial regulator, has launched a formal investigation into the gold market and is probing Deutsche Bank, one of the former members of a tarnished gold-fix panel that will soon be replaced by an electronic fixing.
UBS's top management has pushed hard to speed up its internal forex and precious metals probes. It has sought to get ahead of rivals in securing immunity agreements as it wants to leave behind its legacy problems as soon as possible.
In a global forex-rigging probe against at least 15 banks, UBS has the highest numbers of suspended traders -- at least seven -- across London, New York, Singapore, and Zurich.
It is said to have fired several forex traders in recent months, some of whom had earlier been suspended.
UBS is also in separate talks over a forex settlement with the US Department of Justice's criminal division. It is expected to get leniency from the DoJ's antitrust team in return for handing over information early on and co-operating.
________________________________________________________________________________
 Fraser Murrell: Permanent gold backwardation means a worldwide financial meltdown
 Submitted by cpowell on  Sunday, November 9, 2014. 
 November 9, 2014

Australian scholar Fraser Murrell, a mathmetician and former stockbroker, argues today in commentary posted at MineWeb that, as the economist Antal Fekete has written, permanent backwardation in gold is the great threat to the world financial system, at least as it is now constituted as a fiat money system.
"Sooner or later," Murrell writes, "the bullion banks and governments will run out of ammunition and they will be forced to step back and allow the market to do its thing. Which is to repeat the 1970s -- the worst of all economic outcomes -- stagflation. Unfortunately, this is the consequence of all the money printing, and while it can be delayed it cannot be stopped. The gold price will eventually peak in the tens of thousands of dollars and unless the bullion banks unwind their short positions, they will either default or go bankrupt."
Murrell's commentary is headlined "Permanent Gold Backwardation = Global Meltdown Ahead" and it's posted at MineWeb here:
http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=25916

_______________________________________________________________________________

GATA dollar, euro, pound, or bitcoin?

Submitted by cpowell on  Sunday, November 9, 2014. Sunday, November 9, 2014

With the monetary metals mining industry agreeing to die quietly and its investors dying with them, the World Gold Council celebrating watches for plutocrats as its industry dies --
https://twitter.com/GOLDCOUNCIL/status/528214829841264640/photo/1
-- and the Western financial journalism celebrating central bankers instead of questioning them critically, it's getting harder to perceive GATA's constituency in particular beyond humanity generally.

At least our efforts in North America, dominated by the U.S. government and Wall Street (yes, what's the difference?), produce less and less. Efforts more distant from those financial powers seem more promising, since while in North America the consequence of the gold price suppression scheme is mainly the loss of the market economy, in the rest of the world the consequence is daily financial exploitation.
GATA is not unknown outside North America. As noted yesterday --
http://www.gata.org/node/14686
-- your secretary/treasurer will be speaking twice next month at conferences in Europe. And he has been invited to speak at three conferences in Asia in March. But travel over such long distances is expensive and the conference business, especially for conferences connected with mining, is not in a position to cover much of that expense.
Further, of course, GATA has never put a lot of effort into fundraising -- not that it would accomplish much, given the radioactivity of our mission: free markets, limited and transparent government, and fair dealing among nations and peoples.
Our support has fallen off dramatically over the last year and unless things change just as dramatically soon our operations will be severely curtailed next year; just keeping the flag flying, the Internet site operating, may become a challenge.
So, as a practical matter, who is our constituency? Only you 9,562 people who as of this morning belong to our e-mail dispatch list -- and most of you have never contributed to the organization, even as a mere dollar, euro, pound, or tiny fraction of a bitcoin from each of you would give GATA a crucial boost right now.
Providing that little bit of support is easily accomplished by credit card or bitcoin code at GATA's Internet site --
http://www.gata.org/node/16
-- but please, just new donors this time. We can't keep relying on our most loyal friends.
One more reason to help: If this doesn't work, we may have to resort to Soupy Sales methods:
https://www.youtube.com/watch?v=a-OGy3Kh7yM
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

NYT | Today's Headlines November 9, 2014

The New York Times Most Popular | Video | Subscribe: Digital / Home Delivery

Today's Headlines

Sunday, November 9, 2014


Top News
Kenneth Bae, left, greeted his mother, Myunghee Bae, and Matthew Todd Miller was met by family members Saturday night.
Kenneth Bae and Matthew Todd Miller, Released by North Korea, Are Back on U.S. Soil

By DAVID E. SANGER

Mr. Bae and Mr. Miller arrived Saturday night at a base near Tacoma, Wash., after a secret negotiation by the director of national intelligence, James R. Clapper Jr.
Senators Mitch McConnell, left, and John Barrasso heading to a White House meeting Friday.
With Fear of Being Sidelined, Tea Party Sees the Republican Rise as New Threat

By JEREMY W. PETERS

As Republicans on Capitol Hill move from being the opposition party to being one that has to show it can govern, a powerful tension is emerging between its establishment and its activist wing.
A detective based in Newark cultivated contacts with Jundallah, responsible for a lethal attack on a bus in Iran in 2007.
Getting Close to Terror, but Not to Stop It

By JAMES RISEN and MATT APUZZO

Despite the C.I.A.'s concerns, a Port Authority officer working with the F.B.I. kept ties to sources inside the Sunni terrorist group Jundallah.
For more top news, go to NYTimes.com »
 
Editors' Picks
James Randi in front of a painting done by his partner, the artist José Alvarez.

MAGAZINE

The Unbelievable Skepticism of the Amazing Randi

By ADAM HIGGINBOTHAM

An expert magician, avid debunker and scourge of spiritualists and con men prepares for the final curtain.

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Our 'Mommy' Problem

By HEATHER HAVRILESKY

The current culture demands that every mother be all in, all the time.

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"She really is the soul of grace under pressure."
ZACHARY W. CARTER, a former United States attorney for the Eastern District of New York, in describing the prosecution of the Abner Louima trial by Loretta E. Lynch, who is President Obama's nominee for attorney general.
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A federal district county judge ruled that the law, which allowed a sheriff to target immigrants, was trumped by federal statutes.
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