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Dec 7, 2014

GATA | THE GATA DISPATCH - December 7, 2014: Currency ties key to dollar reserve hegemony, BIS study says.

Currency ties key to dollar reserve hegemony, BIS study says

Submitted by cpowell on  Sunday, December 7, 2014.
By Patrick Graham
Sunday, December 7, 2014
LONDON -- Changes in the size of a loosely defined global "dollar zone" could lead to faster than expected shifts in the composition of world currency reserves, potentially eroding the role of the U.S. unit, said a study published on Sunday.
The study, part of a quarterly review by the Bank for International Settlements --
-- argues the dollar's domination of reserves stems chiefly from the extent to which many currencies are tied either formally or through trade links like a dependence on oil or other dollar-priced commodities.
As a result, while the dollar's overall value has declined by 18 percent since the 1970s against major currencies, and by more than half against the euro and yen, its share of reserves has fallen just 5 percentage points from 66 percent to 61 percent. ...
... For the remainder of the report:

The Washington Post Today's Headlines on December 7, 2014: Six Guantanamo detainees held for more than a decade transferred to Uruguay and more .

The Washington Post
Today's Headlines
The morning's most important stories, selected by Post editors and staff  •  Sun., Dec. 7, 2014


Six Guantanamo detainees held for more than a decade transferred to Uruguay
Four Syrians, one Palestinian and a Tunisian were transferred to the South American country.
In three minutes, two lives collide and a nation divides
Witnesses in the shooting of Michael Brown can’t agree on what they saw, and the evidence can’t settle the questions

Hostages killed as U.S. rescuers battled militants
After trekking almost seven miles in the darkness, Navy SEALs came under fire within 300 feet of the compound where American Luke Somers and South African Pierre Korkie were held.
Obama urges persistence in confronting deep roots of racism
The protests in U.S. streets pose a personal test for the nation’s first African American president.
Landrieu, the last Democratic senator in the Deep South, loses runoff in La.
Bill Cassidy claimed a ninth Senate seat from Mary Landrieu to cap the GOP’s dominant midterm election.
Facing a rising and relentless tide, an island’s caretaker learns to let go
On Assateague, one of America’s most vulnerable islands, one man makes peace with climate change.
Six teams, four playoff spots
ON FOOTBALL | The top six teams in the College Football Playoff rankings win this weekend, throwing a heap of confusion into Sunday’s playoff selection.
This college freshman is excited for her first term — in the state legislature
At 18, Saira Blair of West Virginia is the country’s youngest — and most famous — elected state lawmaker.
The Washington Post. The all-new app is now on the Fire tablet.
Acid reflux blamed for Obama sore throat
President Obama went to the hospital to get a persistent sore throat checked outSaturday and, according to his doctor, learned that it was caused by acid reflux.
Physician Ronny L. Jackson said the president had been complaining of a sore throat for a few weeks, and Jackson recommended some tests.
Read full article >>
Sen. Mary Landrieu loses runoff in Louisiana to Rep. Bill Cassidy
Republicans put the finishing touches on a triumphant midterm election by picking up a ninth Senate seat Saturday when Rep. Bill Cassidy (R-La.) defeated Sen. Mary Landrieu (D) in a runoff election.
Landrieu’s loss means there will be no Democratic senators from the Deep South when the new Congress is sworn in early next year. It will end Landrieu’s tenure in the Senate after three terms and deprives Democrats of holding a single statewide elected office in Louisiana.
Read full article >>
Is Jeb Bush really prepared to lose in order to win?
Jeb Bush might or might not run for president in 2016. If he runs, he might or might not emerge as a winner. But his formulation for how to think about waging a successful presidential campaign suggests he already is ahead of some of his potential competitors — in both parties.
Read full article >>
Rolling Stone needs to come clean about its campus rape story
After days of questions, Rolling Stone has finally answered the two big questions asked of its blockbuster story about sexual assault at the University of Virginia: Did reporter Sabrina Rubin Erdely try to contact the students who were accused of gang-raping Jackie, a student whose shocking story anchored the piece? And if not, why not?
Read full article >>
Rolling Stone’s disastrous U-Va. story: A case of real media bias
On Slate’s DoubleX Gabfest podcast last month, reporter Sabrina Rubin Erdely explainedwhy she had settled on the University of Virginia as the focus for her investigative story on a horrific 2012 gang rape of a freshman named Jackie at the Phi Kappa Psi fraternity house. “First I looked around at a number of different campuses,” said Erdely. “It took me a while to figure out where I wanted to focus on. But when I finally decided on the University of Virginia — one of the compelling reasons that made me focus on the University of Virginia was when I found Jackie. I made contact with a student activist at the school who told me a lot about the culture of the school — that was one of the important things, sort of criteria that I wanted when I was looking for the right school to focus on.”
Read full article >>
Rolling Stone’s flawed story shouldn’t keep schools from taking rape claims seriously
ACKNOWLEDGING DISCREPANCIES in its controversial story about an alleged gang rape at the University of Virginia, Rolling Stone magazine issued an apology on Friday. There is no underestimating the damage caused by the magazine’s faulty reporting, exacerbated by its shoddy effort to shift blame to its source even as it admitted inaccuracies.
Read full article >>
Maryland Republicans celebrate November victories with a call to build on success
The message at Saturday’s convention of the long-suffering Maryland Republican Party was not at all subtle.
“WE’RE BACK!” screamed a large banner that hung behind the podium. The same phrase was emblazoned on T-shirts, bumper stickers and the cover of the program at a gathering where the delegates had plenty to celebrate — most notably Larry Hogan’s stunning victory in last month’s governor’s race.
Read full article >>
Gillespie sees hope for GOP minority outreach
Virginia Republicans are launching a major new strategy to start winning statewide elections again with a concerted effort to engage minority voters and unify the fractured establishment and conservative wings of the party.
Read full article >>
District Department of Transportation takes back seat on proposed I-395 shutdown
So you say you want to shut a major interstate highway in the middle of the nation’s capital for more than a year? And you’re talking to us because we’re the local transportation agency?
A shutdown like that is going to rile tens of thousands of commuters who travel on this highway or use the nearby routes. Those routes already are congested and slow.
Read full article >>

On football: College Football Playoff committee has its work cut out for it
WACO, Tex. — Confusion failed to ebb on college football’s final major Saturday. It even managed to intensify.
All four hotly debated teams won, and the one most in question, Ohio State, won with a very loud romp. That left the College Football Playoff selection committee with a considerable puzzle.
Read full article >>

Capitals handle Devils, 4-1, behind goals from Alzner, Beagle and Kuznetsov
NEWARK — Early into his 20s, when hopes of playing professional hockey at last crystallized, the Washington Capitals’ Jay Beagle envisioned building a career on chasing loose pucks and skating opponents ragged. He imagined outworking others, his lungs trained in the high altitude of Calgary, so he could keep going when others were gassed. He set modest dreams, like becoming a third-line center or an ace penalty killer, and little more. He almost never pictured himself scoring goals.
Read full article >>
With a 15-0 run, No. 7 Cavaliers end Virginia Commonwealth’s 22-game home winning streak
RICHMOND — The noise inside Siegel Center again bordered on deafening, and theVirginia Commonwealth faithful sensed a top 10 team suddenly on the ropes. Virginia Coach Tony Bennett had used two timeouts in a matter of moments, well aware this in-state rivalry game hung in the balance after the Rams burned his defense with the same play on three possessions in a row.
Read full article >>
Obama makes Dec. 26 a holiday
President Obama, a.k.a. the boss-in-chief, decided to give federal employees a holiday present a little early.  He issued an executive order Friday giving them the day after Christmas off.
“All executive branch departments and agencies of the Federal Government shall be closed and their employees excused from duty on Friday, December 26, 2014, the day after Christmas Day,” the order says. Exceptions may be made “for reasons of national security, defense, or other public need.”
Read full article >>
Jewell ‘profoundly’ disappointed by land exchange at sacred Native American sites
LAS VEGAS — Interior Secretary Sally Jewell on Saturday criticized a last-minute addition to a major defense policy bill that would hand 2,400 acres of land in Arizona to an Australian mining corporation.
Read full article >>
Major civil rights coalition opposes postal consolidation; hits official’s appointment
For generations, the U.S. Postal Service had a reputation for employing African Americans when many others would not.
Even slaves delivered mail.
In 1794, Postmaster General Timothy Pickering, appointed by President George Washington, said, “. . .if the inhabitants. . . should deem their letters safe with a faithful black, I should not refuse him.”
Read full article >>
Washington Post reporter charged by Tehran court
Jason Rezaian, a Washington Post reporter detained in Iran for more than four months, was officially charged Saturday in a day-long proceeding in a Tehran courtroom, according to a source familiar with the case.
Read full article >>
Hagel says U.S. to leave up to 1,000 extra troops in Afghanistan
KABUL — Defense Secretary Chuck Hagel on Saturday confirmed that the Obama administration will leave up to 1,000 more troops than originally planned in Afghanistan beyond year’s end, as the United States and NATO nations scramble to ensure that a new international mission to support Afghan forces is launched on time.
Read full article >>
Pakistan says it killed senior al-Qaeda operative charged in NY subway plot
PESHAWAR, Pakistan — A Saudi American accused of plotting to bomb the New York City subway system in 2009 was killed in a pre-dawn army attack on a remote al-Qaeda militant hideout, Pakistani officials said Saturday.
Read full article >>
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Why the all-weather portfolio is a wash-out
Motivational speaker Anthony Robbins has a new book on investing, “Money: Master the Game.” It is his first book in two decades, and he has been everywhere, flogging it directly onto the best-seller list.
Read full article >>
Federal contractors now find opportunities for growth in healing, not war
Two years ago General Dynamics, one of the biggest federal contractors, reported a quarterly loss of $2 billion. An “eye-watering” result, one analyst called it.
Diminishing wars and plunging defense spending had slashed the weapons maker’s revenue and left some subsidiaries worth far less than it had paid for them. But the company was already pushing in a new direction.
Read full article >>
For daring gift-givers, these books are worth a look
Every year, someone asks me which financial books I recommend as holiday gifts to teach children or young adults about money, to help somebody prepare for retirement — or to give someone who is trifling with his or her money.
Read full article >>
CBS, Dish reach deal on retransmission fees
CBS and Dish announced early Saturday that the companies had reached a licensing agreement, putting an end to a brief blackout of CBS programming for the satellite TV service provider’s customers.
The companies did not disclose terms of their deal over retransmission consent fees. Months of heated negotiations resulted in CBS pulling its programs overnight from Dish’s customers in major cities, including New York, Los Angeles, Chicago and Boston. The blackout, which just lasted hours, did not affect Dish customers in the Washington area.
Read full article >>
Crazy: At least 1 in every 10 robberies involves the theft of a phone
Maybe it's happened to you before: You're in a cab or at a restaurant and you accidentally leave your smartphone behind. By the time you've realized it's missing, it's too late: Some enterprising thief has pilfered your device.
Read full article >>
New technologies encourage women, but not poor people, to participate in politics
Every recent election cycle has seen news stories about online activism, suggestion that new technologies might engage people who have historically been less engaged in offline politics — particularly young people, women, and people with less education and income. If this were true, these technologies could substantially change U.S. politics. Today, one in three eligible adults skips voting in presidential elections, and one in three skips voting in midterms.
Read full article >>
Grammy nominations: Beyoncé, Sam Smith, Taylor Swift, Iggy Azalea and more
R&B superstar Beyoncé, British pop sensation Sam Smith and singer/producer Pharrell Williams topped the Grammy nominations on Friday with six each.
Smith, powered by his smash “Stay With Me,” landed nods in the coveted Album of the Year, Record of the Year, Song of the Year and Best New Artist categories. Meanwhile, Beyoncé made history by becoming the most Grammy-nominated female artist ever, with nominations including Album of the Year for her self-titled record and Best R&B Song for “Drunk in Love” (featuring her husband Jay Z). Pharrell was rewarded with multiple nominations for his hit “Happy,” and rounded out the best album category along with Ed Sheeran and Beck.
Read full article >>
Grammy nominations: Beyoncé, Sam Smith, Taylor Swift, Iggy Azalea and more
R&B superstar Beyoncé, British pop sensation Sam Smith and singer/producer Pharrell Williams topped the Grammy nominations on Friday with six each.
Smith, powered by his smash “Stay With Me,” landed nods in the coveted Album of the Year, Record of the Year, Song of the Year and Best New Artist categories. Meanwhile, Beyoncé made history by becoming the most Grammy-nominated female artist ever, with nominations including Album of the Year for her self-titled record and Best R&B Song for “Drunk in Love” (featuring her husband Jay Z). Pharrell was rewarded with multiple nominations for his hit “Happy,” and rounded out the best album category along with Ed Sheeran and Beck.
Read full article >>
For two Cuban artists, divergent paths intersect at GALA Hispanic Theatre
Two Cuban painters: One left 54 years ago and hasn’t stopped missing a lost land; the other stayed and now is making his first visit to the United States — his first time off the island, his first plane ride.
Read full article >>

NYT Today's Headlines - December 7, 2014.: Top News: Luke Somers, an American photojournalist, in Sana, the Yemeni capital, in 2013. He had been captured by Al Qaeda. 2 Hostages Killed in Yemen as U.S. Rescue Effort Fails

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

Today's Headlines

Sunday, December 7, 2014

Top News
Luke Somers, an American photojournalist, in Sana, the Yemeni capital, in 2013. He had been captured by Al Qaeda.
2 Hostages Killed in Yemen as U.S. Rescue Effort Fails


Luke Somers, a journalist, and Pierre Korkie, a teacher, were being held by Al Qaeda's affiliate in Yemen when they died during a raid by United States commandos Saturday, officials said.
SCOTT PRUITT  The Oklahoma attorney general, second from right, in Dallas in July, and his Republican counterparts have formed alliances to oppose federal regulations.


Energy Firms in Secretive Alliance With Attorneys General


Republican attorneys general have formed an unprecedented, secretive alliance with some of the nation's top energy producers to push back against the Obama regulatory agenda, an investigation by The New York Times has found.
. Documents  Documents: A Window Into a Secret Alliance
. Graphic  Graphic: A Letter From an Attorney General, Written by an Energy Company
A lab technician from the Sierra Leone Health Ministry with a cooler of blood samples from suspected Ebola patients. Delays in testing are causing serious bottlenecks at treatment centers.
As Ebola Rages, Poor Planning Thwarts Efforts


Aid officials in Sierra Leone say weak coordination among aid groups, government mismanagement and glaring inefficiencies are costing countless lives.
For more top news, go to »
Editors' Picks


How Wall Street Bent Steel


The division of Timken, a family-controlled company, into separate companies making bearings and steel has brought anxiety to its Ohio hometown.


When Talking About Bias Backfires


Hearing that discrimination is common is a license to do it.


"When you use a public office, pretty shamelessly, to vouch for a private party with substantial financial interest without the disclosure of the true authorship, that is a dangerous practice."
DAVID B. FROHNMAYER, who served as Oregon attorney general, on attorneys general working with corporations to fight regulations.
Today's Videos
Bill Cunningham | Learning From Visitors


Young shoppers, many from Asia, hit all the top designer stores and wore experimental, of-the-moment styles.
Video VIDEO: The Beach Walker
Theo Jansen's strutting sculptures achieve astonishingly lifelike movement at Art Basel on Miami Beach.
. Related Article
Video VIDEO: Win a Trip 2015
The Op-Ed columnist Nicholas D. Kristof invites students to enter a contest for an international reporting trip in 2015.
For more video, go to »
People waded through floodwaters caused by Typhoon Hagupit in Borongan City in the Philippines on Sunday.
Typhoon Lashes Philippines, Amid Fears of a Repeat of Last Year's Devastation


A major concern is that the storm is expected to take up to three days to move across the central Philippines, dumping heavy rains and raising the possibility of deadly landslides.
Forget the Hounds. As Foxes Creep In, Britons Call the Sniper.


"They may appear cuddly and romantic, but foxes are also a pest and a menace," Mayor Boris Johnson said. Some in London, however, are working to save the animals from harm.
Vegetable Spawns Larceny and Luxury in Peru


As maca booms, some Peruvians fear that they are losing control of a valuable crop with a history that goes back long before the time of the Inca empire.
For more world news, go to »
Gary DePalo, a sophomore at the University of Virginia, said there was a general sense on campus of
After Retreat on Rolling Stone Article, Virginia Campus Still Uneasy


Students have endured a tumultuous semester: the disappearance of a sophomore, two suicides and an article about an alleged gang rape that put the university in the center of a national debate.
Leon Jones in a bunkhouse in Newberry, S.C. Mr. Jones, who has an intellectual disability, works for a company that supplies labor to a meatpacking plant.


Separated From Brother, Left to Toil Far From Home


Leon Jones, a 64-year-old with an intellectual disability, was among the men recruited from institutions years ago to work in meat plants. He may be the last remaining laborer connected to an abusive system.
State Senator Jamie B. Raskin, a law professor, said the atheist ban in the Maryland Constitution was inconsistent with the state's history.
In Seven States, Atheists Push to End Largely Forgotten Ban


It has been 53 years since the Supreme Court ruled that states could not have a "religious test" for public office, but a belief in God remains a requirement in Maryland and other states.
For more U.S. news, go to »
Bill Cassidy greeted supporters at his election party in Baton Rouge. His win means Republicans will hold 54 seats in the Senate.
Mary Landrieu Is Defeated by Bill Cassidy in Louisiana Senate Runoff


The victory by Mr. Cassidy, a Republican congressman, sent home the last Deep South Democrat in the United States Senate.
Obama Is Found to Have Symptoms of Acid Reflux


The president, who has had very few medical problems during his nearly six years in office, appeared to have symptoms of acid reflux, officials said.
President Ashraf Ghani with Secretary Chuck Hagel in Kabul.
1,000 Extra U.S. Soldiers Will Remain in Afghanistan


The extra deployments appear to be intended to meet personnel requirements necessary to maintain bases across the country, including Kandahar Airfield.
For more political news, go to »
A protester outside Macy's in Herald Square on Black Friday, part of a campaign in support of Michael Brown.


Looking for the Effects of the Black Friday Boycott


Holiday sales were down 11 percent, but how much of that was a result of the nationwide protests against the police shooting of Michael Brown?
CBS and Dish End Dispute, Resolving a 12-Hour Blackout


Stations owned and operated by CBS in 14 markets returned to Dish's service after a brief absence when the two companies ended a six-month contract fight.


A Life Lived Between Buffalo and Boston, With a Touch of Sports
The headquarters of the Delaware North Companies is home to much baseball and hockey memorabilia.
For more business news, go to »


Hearing Every Voice in the Room


Bringing the best ideas to the fore means encouraging everyone to speak up.


How Technology Could Help Fight Income Inequality


New and cheaper services could effectively increase wages, while easier-to-use computers could create new opportunities.
For more technology news, go to »
On Sunday at 1 p.m., the Giants (3-9) play the Titans (2-10), and the Jets (2-10) play the Vikings (5-7).
Jets? Giants? There Are Better Ways to Spend Your Sunday


Take a break from the weekly masochism. Here are some suggestions for better ways to spend this Sunday other than watching the 2-10 Jets and the 3-9 Giants.
Christion Jones scored early in the fourth quarter on a 6-yard pass from quarterback Blake Sims to put Alabama ahead by 28-13.


Using Several Gears, Alabama Cruises Past Missouri for SEC Title


No. 1 Alabama displayed a faster pace on offense in a convincing victory over Missouri in the SEC title game.
San Francisco won the World Series, then lost third baseman Pablo Sandoval to Boston in free agency.


Winter Alert: Team Construction Ahead


Though it is unwise to expect a flurry of transactions at this week's winter meetings, here are some roster holes that need filling around the leagues.
For more sports news, go to »