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Aug 12, 2015

A Global Economic Collapse is Approaching - Dollar Vigilante August 12, 2015.

A Global Economic Collapse is Approaching

Economic News TV  
Published on Aug 12, 2015
A Global Economic Collapse is Approaching
Jeff Berwick of discusses the current state of the global economic meltdown, and makes his predictions for this fall.

Regulatory Relief: Guidance to Help Financial Institutions and Facilitate Recovery in Areas that Support the Oglala Sioux Tribe of the Pine Ridge Indian Reservation Affected by Severe Storms, Straight-Line Winds, and Flooding: FDIC Financial Institution Letter - August 12, 2015.

Financial Institution Letter

Regulatory Relief:
Guidance to Help Financial Institutions and Facilitate Recovery in Areas that Support the Oglala Sioux Tribe of the Pine Ridge Indian Reservation Affected by Severe Storms, Straight-Line Winds, and Flooding
The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and to facilitate recovery in areas supporting the Oglala Sioux Tribe of the Pine Ridge Indian Reservation affected by severe storms, straight-line winds, and flooding.
Statement of Applicability to Institutions with Total Assets under $1 Billion: This Financial Institution Letter applies to all FDIC-supervised financial institutions.

Complete Financial Institution Letter:

DealBook P.M. Edition - August 12, 2015: Top Story - August 12, 2015: TOP STORY Alibaba's founder, Jack Ma, at a conference in Nanjing, China, this week. Alibaba's Precarious Position Highlighted in Earnings

Wednesday, August 12, 2015
Alibaba's founder, Jack Ma, at a conference in Nanjing, China, this week.
Alibaba's Precarious Position Highlighted in Earnings The Chinese e-commerce giant has had a turbulent first year as a public company, and its stock price has fallen about 35 percent from its November 2014 highs.

Wall Street at Close Report on August 12, 2015: U.S. stocks erase steep losses from China yuan turmoil.

U.S. stocks erase steep losses from China yuan turmoil

Wallace Witkowski, Mark DeCambre
U.S. stocks erased steep losses Wednesday to close mostly higher, after the S&P 500 briefly descended into negative territory for the year and a second day of weakness for the Chinese yuan continued to send shock waves through global markets.
Traders unloaded telecommunication and financial stocks as worries about China—the world’s second-largest economy—continued after the country intervened on Wednesday to manage the devaluation of the yuan USDCNY, -0.0125%

RT "Keiser Report" Episode 795 Originally Published on August 11, 2015.

"Keiser Report" Episode 795
RT Shows
Published on Aug 11, 2015
In this summer solutions episode of the Keiser Report Max Keiser and Stacy Herbert are joined by Mitch Feierstein of to discuss the solution to global ponzi schemes as a source of economic activity. They discuss country specific ponzis from Greece to China and beyond.

FTC Approves Fiscal Year 2014 HSR Premerger Notification Repor: FTC Notifications - August 12, 2015

FTC@100 Banner

The Federal Trade Commission, together with the Department of Justice’s Assistant Attorney General for Antitrust, released the agencies’ 37th Annual Hart-Scott-Rodino Report. The report presents fiscal year 2014 data on the agencies’ HSR Premerger Notification Program. The program allows the agencies to identify and challenge transactions that may substantially lessen competition in violation of federal antitrust laws. Also included in the report is a summary of the agencies’ merger enforcement activities for the year.

Federal Reserve Bank of New York Org. -August 12, 2015: Tentative Outright Agency MBS Operation Schedule.

Tentative Outright Agency Mortgage-Backed Securities Operation Schedule
The Desk's tentative operations schedules associated with outright purchases of agency mortgage-backed securities (MBS) securities as announced by the Federal Open Market Committee.

The Desk plans to purchase a maximum of $14.25 billion in agency MBS over the period beginning August 13, 2015 on FedTrade.
The next release of the tentative agency MBS operation schedule will be at 3 PM on Wednesday, August 26, 2015 for the period beginning August 27, 2015.
Schedule pdf

CMI Spot Prices as of Close of Trading in New York on August 12, 2015.

Spot Prices as of traditional New York closing times

Wednesday, August 12, 2015


Today Change Week Ago Month Ago Year Ago
$1,125.20 +$15.60 $1,087.10 $1,157.10 $1,314.95


Today Change Week Ago Month Ago Year Ago
$15.51 +$0.18 $14.60 $15.50 $19.86


Today Change Week Ago Month Ago Year Ago
$1,002.50 +$11.10 $953.30 $1,039.90 $1,473.50


Today Change Week Ago Month Ago Year Ago
$626.60 +$24.75 $596.50 $661.55 $884.10

Gold/Silver Ratio


FDIC Announces Settlement with Citizens Bank of Pennsylvania for Unfair and Deceptive Practices: FDIC Press Release - August 12, 2015:

Press Release

FDIC Announces Settlement with Citizens Bank of Pennsylvania for Unfair and Deceptive Practices

Agreement includes restitution for consumers and businesses

August 12, 2015
Media Contact:
Barbara Hagenbaugh, 202-898-7192
The Federal Deposit Insurance Corporation (FDIC) announced a settlement with Citizens Bank of Pennsylvania, Philadelphia, Pennsylvania (CBPA), for unfair and deceptive practices in violation of Section 5 of the Federal Trade Commission Act. Under the settlement, CBPA agreed to an Order for Restitution and Order to Pay Civil Money Penalty (Order). The Order requires CBPA to pay a civil money penalty of $3 million and provide restitution of approximately $5.8 million to consumers and businesses who held more than 475,000 accounts affected by the violations.

Who Threatens America Most?: NYT Opinion Today - August 12, 2015.

The New York Times


Who Threatens America Most?
Alexis Beauclair
Is it ISIS, Al Qaeda or Russia? Obama administration officials can't seem to agree, which makes setting priorities hard.
China's Currency Dilemma
If China doesn't allow the market to set the exchange rates for the renminbi, it can't expect it to be considered a global currency.

Who’s brokering your data?: FTC Scam Alerts - August 12, 2015

Federal Trade Commission Consumer Information
by Colleen Tressler
Consumer Education Specialist, FTC

If the friend of a friend is my friend, and the enemy of a friend is my enemy, then is the seller of data to a scammer also a scammer? In a case announced today, the FTC said it might well be.
Read more >

FTC Charges Data Brokers with Helping Scammer Take More Than $7 Million from Consumers' Accounts: FTC Enforcement Actions - August 12, 2015.

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Sold Personal Financial Information Obtained from Online Payday Loan Applications
The Federal Trade Commission has charged a data broker operation with illegally selling payday loan applicants’ financial information to a scam operation that took millions of dollars from consumers by debiting their bank accounts and charging their credit cards without their consent.
According to the FTC’s complaint, the data broker enterprise bought loan applications from the operators of payday loan websites, and got others directly from consumers via their own payday loan websites. Instead of passing on those applications to legitimate payday lenders, the defendants sold the information to companies like Ideal Financial Solutions Inc., which purchased the financial account information for more than 500,000 consumers from the defendants and raided their accounts for at least $7.1 million. As a result, some consumers had to close their accounts or were charged fees for insufficient funds.

The Best of Guardian Opinion - August 12, 2015.

The best of Guardian opinion
Wednesday 12 Aug 2015
Today's opinion articles More »

What Google's Reinvention Means Is Far From Clear: Bits | The Business of Technology -August 12, 2015.

Wednesday, August 12, 2015

Daily Report

What Google's Reinvention Means Is Far From Clear | Nest, which used to be an independent company, has always been a little different from the other parts of Google.

European stocks log worst day of 2015 on China woes: European Markets at Close Report on August 12, 2015.

European stocks log worst day of 2015 on China woes

Sara Sjolin
Europe’s benchmark stock posted its worst one-day loss since October last year on Wednesday, after the country’s central bank allowed the tightly controlled yuan to slide even further, raising more concerns about the health of the world’s second-largest economy.
The Stoxx Europe 600 index SXXP, -2.70%  slumped 2.7% to 382.99, building on a 1.6% loss from Tuesday, when markets globally were hit by the People’s Bank of China’s decision to devalue the yuan USDCNY, +0.9754% Analysts interpreted the move, through a shift to a more market-driven rate, as the restart of “currency wars” in which countries try to weaken their currencies to spur growth and boost exports.

Republican hopefuls reap $62m in support from donors with fossil fuel ties.: The GuardianToday - US Edition - August 12, 2015:

the guardian today - US edition
Wednesday 12 Aug 2015
Top Stories More »

Ted Cruz, Jeb Bush and Rick Perry among candidates poised to see biggest benefits from handful of wealthy individuals and corporations

SEC Charges ITG With Operating Secret Trading Desk and Misusing Dark Pool Subscriber Trading Information:SEC Enforcement Actions - August 12, 2015.

SEC Seal

08/12/2015 09:00 AM EDT

The Securities and Exchange Commission today announced that ITG Inc. and its affiliate AlterNet Securities have agreed to pay $20.3 million to settle charges that they operated a secret trading desk and misused the confidential trading information of dark pool subscribers.
An SEC investigation found that despite telling the public that it was an “agency-only” broker whose interests don’t conflict with its customers, ITG operated an undisclosed proprietary trading desk known as “Project Omega” for more than a year.  While ITG claimed to protect the confidentiality of its dark pool subscribers’ trading information, during an eight-month period Project Omega accessed live feeds of order and execution information of its subscribers and used it to implement high-frequency algorithmic trading strategies, including one in which it traded against subscribers in ITG’s dark pool called POSIT.

China cuts yuan rate against US dollar for second day: GATA | THE GATA DISPATCH - August 12, 2015.

China cuts yuan rate against US dollar for second day

Submitted by cpowell onAugust 12, 2015From Agence France-Presse
via Yahoo News
Wednesday, August 12, 2015
SHANGHAI -- China cut the yuan's value against the dollar for the second consecutive day Wednesday, roiling global financial markets and driving expectations the currency could be set for further falls.
The daily reference rate that sets the value of the Chinese currency against the greenback was cut by 1.62 percent to 6.3306 yuan, from 6.2298 on Tuesday, the People's Bank of China said in a statement on its website.
The move took the reductions to 3.5 percent this week -- the largest in more than two decades -- after a surprise devaluation on Tuesday, but the central bank played down expectations it would continue to depreciate the currency.
The combined drop is the biggest since China set up its modern foreign exchange system in 1994, when it devalued the yuan by 33 percent at a stroke. ...
Analysts said the move could also delay an expected US hike in interest rates and even threaten a currency war as other countries come under pressure to devalue as well. ...

... For the remainder of the report:

DealBook Today's Top Headlines - August 12, 2015: China Weakens Currency Again | Nine Charged in Insider Trading Case | Puerto Rico to Issue $750 Million in Bonds | Carlyle Group and Others Buy Veritas Technologies.

Wednesday, August 12, 2015
CHINA WEAKENS CURRENCY AGAIN The People's Bank of China set the official midpoint for the renminbi 1.6 percent lower than the day before, at 6.33 per dollar, Neil Gough reports in The New York Times. The second-largest one-day drop since China's modern foreign exchange system began came directly after a 2 percent devaluation on Tuesday.

NYT First Draft on Politics - August 12, 2015: Bush Opens New Front in Attack on Clinton's Foreign Policy Record.

8/12/2015 »
First Draft

Bush Opens New Front in Attack on Clinton’s Foreign Policy Record

Jeb Bush at the Ronald Reagan Presidential Library in Simi Valley, Calif., on Tuesday. Mario Anzuoni/Reuters
By Amy Chozick
Good Wednesday morning from what scientists now say is a dying universe and where Donald J. Trump remains the leader in Republican polls. But while he dabbled in policy discussions and held a large rally in Michigan on Tuesday, one of his major rivals, Jeb Bush, regained some of the spotlight by attacking Hillary Rodham Clinton over the Obama administration’s policies in the Middle East.

The Guardian Media Briefing - August 12, 2015.

Media briefing
Wednesday 12 Aug 2015
Top stories on MediaGuardian More »

The Getaway Car marks presenter’s return to primetime TV after he was dropped from ITV’s The X Factor last year
Pay-TV channel holds on to US sitcom for another four years despite rumours that ITV or Netflix might make a bid
Broadcaster says it hopes to work on other projects with Mel Giedroyc and Sue Perkins, despite their daytime show failing to attract more than 1 million viewers
Swedish government agrees to direct talks with Ecuador which may lead to WikiLeaks founder being interviewed in London

U.S. Stock Market Future Indications - August 12, 2015: U.S. stock futures slump as China devalues yuan again

U.S. stock futures slump as China devalues yuan again

Sara Sjolin
U.S. stocks were poised for another session with steep losses on Wednesday, with futures sliding in early trade after China allowed its currency to fall sharply for a second straight day.
Futures for the Dow Jones Industrial Average YMU5, -0.76%  slumped 164 points, or 0.9%, to 17,191, while those for the S&P 500 index ESU5, -0.79%  shaved off 20.95 points, or 1%, to 2,059. Futures for the Nasdaq 100 index NQU5, -0.79%  erased 46.75 points, or 1%, to 4,465.