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Jan 14, 2015

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Wednesday, January 14, 2015











In conversation with Aasif Mandvi

In conversation with Aasif Mandvi

GATA | THE GATA DISPATCH - January 14, 2015: Banks' withdrawal opens doors for niche financiers in gold sector

Banks' withdrawal opens doors for niche financiers in gold sector

Submitted by cpowell on  Wednesday, January 14, 2015.
By Silvia Antonioli and Clara Denina
Wednesday, January 14, 2015
LONDON -- Struggling gold miners are turning increasingly to alternative sources of finance for funds as banks and equity investors shy away.
Stream financing and royalty deals and investments by private individuals are throwing a lifeline to some bullion miners but critics say it comes at the expense of future returns, damaging the industry's longer-term appeal for more conventional investors.
They may also be keeping alive production that would not be viable at current spot prices, delaying a rebalancing of supply and demand. Gold shed around a quarter of its value in the last two years after a more than decade-long bull run.
"We have never been busier," said David Harquail, chief executive of royalty and streaming company Franco-Nevada. "Our office is now full and we spend all our time trying to juggle which projects we can devote resources too." ...
... For the remainder of the report:

Gerald Celente - Trends In The News - "Terrorism: The Best Political Wea...

Gerald Celente - Trends In The News - "Terrorism: The Best Political Weapon" - (1/9/15)

DealBook P.M. Edition - January 14, 2015: Suit Accuses Franklin Resources Billionaire of Defrauding Investor's Heir.

Charles B. Johnson built Franklin Resources into a mutual fund giant.
Suit Accuses Franklin Resources Billionaire of Defrauding Investor's Heir Anthony P. Miele III contends that Charles B. Johnson, who built Franklin Resources into a mutual fund giant, helped conceal the existence of shares left to him by his father that are now worth $130 million.
Jamie Dimon, chairman and chief executive of JPMorgan Chase, at a business roundtable in Washington last month.
JPMorgan Chase Profit Declines 7%, Hobbled by Weak Trading JPMorgan Chase reported an unexpected drop in profit, to $4.9 billion, or $1.19 a share, during a sluggish fourth quarter.
A branch of JPMorgan Chase in New York.
News Analysis: The Break-Up Question Over JPMorgan Applying Wells Fargo's multiple to a company created out of JPMorgan's consumer and business lending operations could theoretically value that "New Chase" at $100 billion.
JPMorgan Chase headquarters in New York.
Reuters Breakingviews: JPMorgan Chase's Results Augur a Year of Mediocrity for Big Banks More lending is doing little for results, revenue was down and expenses were up. The outlook is not rosy for Jamie Dimon or his rivals, says Antony Currie of Reuters Breakingviews.
A branch of Wells Fargo in Washington.
Wells Fargo Earnings Edge Up, Meeting ExpectationsProfit rose 2 percent, to $5.71 billion, and revenue increased 4 percent as the bank continued to lend more money and decrease the amount it set aside to cover soured loans.
President Obama signing the Dodd-Frank act into law in 2010. The financial industry has worked to weaken the regulations.
The Trade: A Strategy in the Fight Over Dodd-Frank: Go Big Instead of battling over incremental tinkering of existing rules, the Obama administration could call for a significant overhaul of the financial system, Jesse Eisinger writes in The Trade.
A group of state attorneys general is investigating the hack last summer at JPMorgan Chase.
State Attorneys General Press JPMorgan for More Details on Hacking The officials sent a letter to the bank seeking more details about the nature of the breach, which potentially exposed some information for 83 million consumers and small businesses.
Family Dollar is proceeding with a merger with Dollar Tree despite a higher offer from Dollar General.
Shareholder Adviser I.S.S. Backs Family Dollar Sale to Dollar Tree Institutional Shareholder Services recommended that Family Dollar shareholders approve the $8.5 billion deal with Dollar Tree, saying that Dollar General's bid, while higher, remained too risky.
Edmond de Rothschild Group Names Chairman's Wife as C.E.O.Ariane de Rothschild will serve as chairwoman of the private bank's executive committee, succeeding Christophe de Backer after he steps down as chief executive at the end of the month.
Barclays Names Former Bank of America Executive as Chief Operating Officer Jonathan Moulds spent 15 years at Bank of America, most recently as chief executive of Merrill Lynch International and as head of Bank of America Merrill Lynch in Europe.
Frank H. McCourt Jr., the real estate developer who formerly owned the Los Angeles Dodgers.
Start-Up Lender Raises $200 Million From Ex-Owner of Los Angeles Dodgers MGG Investment Group, which makes its official debut on Wednesday, will use capital from Frank H. McCourt Jr. to try to capture a slice of the small-business lending market.
Sunrise Communications of Switzerland Plans I.P.O. The initial public offering is expected to raise about $1.3 billion, which would be used to reduce Sunrise Communications' debt.
House Passes Measure to Ease Some Dodd-Frank Rules Some Democrats joined Republicans in approving legislation to ease banking regulations under the 2010 law.
Results of E.U. Hearings on Trade Agreement With the U.S.Cecilia Malmstrom, the European Union trade commissioner, is expected on Tuesday to present results of a public consultation on a hotly contested investment clause that has complicated trade negotiations with the United States. The clause, of a planned trans-Atlantic trade agreement, has sparked outrage among labor unions and environmental groups, which say it would give corporations too much power to override policies of sovereign governments.

But the United States and many European trade experts say the clause, allowing so-called investor-state dispute settlement, should be part of modern trade agreements. Ms. Malmstrom is not expected to make a definitive case for including or discarding the clause but to highlight the main issues raised by the consultation, announced in March last year.
December Sales Report for Retail and Food Services On Wednesday, the Commerce Department will release its advance retail and food services sales figures for December, a closely watched barometer of the strength of the economic recovery. Analysts say that sales may have cooled in December from the previous month, when retail sales jumped 0.7 percent and food services 5.1 percent from the same period last year.

Still, lower prices at the gas pump, as well as job growth, are breathing life back into retail spending after a year of uneven growth - good news for the economy overall.
Opinion on Debt-Purchase Plan From a European Jurist A senior adviser at Europe's highest appeals court is expected to issue a nonbinding opinion on Wednesday on a plan by the European Central Bank to buy bonds of stricken eurozone countries. The program, announced in 2012, has never been deployed but was widely credited with helping rescue the eurozone.

The opinion from Pedro Cruz Villalón, an advocate-general at the Court of Justice of the European Union in Luxembourg, will be closely studied for any sign that the court will restrict the remit of the central bank, amid expectations that the bank could soon unveil plans for large-scale purchases of government debt, or so-called quantitative easing. Judges endorse the advice of their advocates-general in the majority of cases, usually months later.
For the latest updates, go to »

The Washington Post Politics P.M. - January 14, 2015: Early 2016 moves by Jeb Bush, Mitt Romney spur other GOP contenders into action.

The Washington Post
Politics P.M.
Politics moves fast — stay updated as you end the day  •  Wed., Jan. 14, 2015

Early 2016 moves by Jeb Bush, Mitt Romney spur other GOP contenders into action
A broad field of GOP candidates are ramping up preparations for presidential runs in the wake of early maneuvering by establishment favorites Jeb Bush and Mitt Romney, kicking off the race for the 2016 Republican nomination at a breakneck speed.  Read full article »

GOP donor Foster Friess launches new effort to boost Rick Santorum
Foster Friess, a wealthy conservative donor whose funds propelled Rick Santorum’s 2012 presidential campaign, will host a private gathering in Scottsdale, Ariz., this weekend to rally support behind Santorum’s potential 2016 bid.  Read full article »
Xavier Becerra taking ‘very close look’ at run for Boxer’s seat
Rep. Xavier Becerra said Wednesday that he is considering running for the seat of retiring Sen. Barbara Boxer, a fellow California Democrat."I'm going to take a very close look at it," he told reporters. "Obviously, I need to have the process move with due speed."  Read full article »
Obama returns to Iowa
President Obama is heading to Cedar Falls, Iowa Wednesday, where he will unveil measures to make high-speed broadband more readily available and cheaper.It's Obama's first trip to the state since 2012, when he gave his final campaign rally in Des Moines.  Read full article »
The Washington Post is the #1 print and online media source for opinions leaders inside the beltway. Read more at
House votes to block Obama’s immigration actions — but exposes new GOP divisions
Launching a fresh attack on President Obama's immigration policies, the House voted 236 to 191 Wednesday to block immigration actions he took last year, passing the bill after adding a series of amendments gutting most of his immigration policy.  Read full article »
Poll: Obama’s approval up but Americans remain divided
President Obama's approval rating is up 7 percentage points since October, pulling his support out from underwater but leaving Americans still divided over the president's leadership, according to a new poll released Wednesday.  Read full article »
The Fix: Marco Rubio might be the odd man out in 2016
Weeks, not months. That's the time frame Sen. Marco Rubio (R-Fla.) has set for deciding whether he will run for president in 2016. Rubio is scheduled to huddle with supporters in Miami Beach on Jan. 23 and 24, days that should be circled in red ink on everyone's political calendar. (Surely, the big bosses will want me to stake out that meeting in sunny Florida?)  Read full article »
The Fix: ISO: The best state-based political reporters, 2015 edition
Two years ago, we got the idea to put together a comprehensive list of the best political reporter (or reporters) in every state.  And we (and you) did it!But, that was two years ago. "30 Rock" was still on the air. Democrats controlled the Senate.  The "Harlem Shake" was a thing. The "Red Wedding" happened. You get the point. A lot has changed.  Read full article »

The Fix: #Millennials don’t matter much in American politics
There was a good article on Politico over the weekend detailing the newest iteration of one of the oldest games in politics: how candidates are trying to engage young voters. In 2008 and (to a lesser extent) 2012, young voters helped propel Barack Obama to (and back to) the White House. Every presidential cycle, candidates look lustily at the newest crop of voters like Matthew McConaughey in "Dazed and Confused." Elections keep getting older, but the young voters stay the same age.  Read full article »

The Fix: Mitt Romney is a decent guy. But…
This week has seen frenzied movement on the 2016 front, as Mitt Romney's decision that he is maybe, sorta, definitely thinking about running for president (again) has everyone else maybe, sorta, definitely thinking about running for president announcing their hiring plans and the fact that they are totally not fazed by anyone else running for president.  Read full article »
The Fix: Republicans have gained more than 900 state legislative seats since 2010
Everyone knows by now that 2010 and 2014 were very good to the Republican Party. What they don't understand (or understand well enough) is just how good. Yes, Republicans now control the Senate and have their largest majority in the House since World War II. But it's downballot (way downballot) where the depth of the Republican victories over the past three elections truly reveal themselves -- and where the impact will be felt over the long term.  Read full article »
The Fix: How Congress is actually getting less diverse, kind of
The headline above will confuse people. After all, we and others have pointed out repeatedly in recent days that the new 114th Congress is the most diverse ever (while still, of course, very white and very male).  Read full article »