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Aug 31, 2016

Max Keiser - August 31, 2016: Manipulation May Not Succed in Keeping Prices Lower For Much Longer - SD Market Wrap
Posted on August 31, 2016
What will be most interesting, will be market trading through Thursday. Precious metals are trying to put in an organic bottom and rally.  The dip buying proves this.  With signs that the physical market might be tightening and Indian buying about to rise, it’s not likely manipulation will succeed in keeping prices lower for much longer…

FT | Short View. Uk and Europe One Year Later

FT | Quantitative Easing Problems for the UK - August 31, 2016

The Guardian | World | Australia | Australian Politics - Live: August September 1, 2016 (04:02 BST): Senate Calls malcolm Turnbull to Establish a Banking Royal Commissio. - Politics Live
Gareth Hutchens

Senate calls on the prime minister to establish a banking royal commission


Jacqui Lambie: don't go shoving this folder down my throat either

From Gareth:
George Brandis has just demanded, in the Senate, that Labor senator Sam Dastyari properly explain his decision to allow a company with links to the Chinese government to pay a $1600 bill incurred by his office.
Brandis said Dastyari had recently taken public positions on foreign policy matters regarding China, which were “starkly at variance” with Labor’s official position.
He wondered if Dastyari’s close relationship with Chinese interests had anything to do with it.
“Did Senator Dastyari’s links with China influence him in presenting what he himself called ‘The Chinese View’ in a speech in the senate?” Brandis said.
“Senator Dastyari’s acceptance of personal benefits from an entity or entities with links to the Chinese state and the carefully opaque way in which the payments have been described in the register of senators’ interests raises the inevitable question of whether Senator Dastyari, whether advertently or unwittingly, has allowed himself to be compromised.
“This is a very serious matter.
“It is much more serious than, for instance, the allegations which were made against the member for Fadden, Mr Robert, which caused him to lose his position in the ministry.
“Senator Dastyari is an extremely influential matter in the alternative government of Australia. If he has been compromised, that is a very grave matter.
“It is incumbent upon Senator Dastyari now to provide to the Senate a full explanation of the affair, a full account of the nature of his dealings with these two Chinese companies, and in particular a full explanation as to why it was that they were paying personal debts of Senator Dastyari’s.
“It is for Mr Shorten to insist that Senator Dastyari do so.”

DealBook | Today's Top News Summary: Top Story | DealBook Highlights | Buzz Traker | Looking Ahead

The New York Times 

Top Story
Team From Finance and Law to Direct Puerto Rico’s Fiscal Affairs
Four Republicans and three Democrats will serve on the seven-member board, which has four Puerto Rican members.

WSJ | Major Indexes Closing on August 31, 2016

The Wall Street Journal

Major Indexes Closing
Major Indexes 5:45 p.m. EDT 08/31/16

WSJ | Forex Closing on August 31, 2016

The Wall Street Journal

Forex Closing
Major Currencies
Wednesday, August 31, 2016

WSJ | Biggest Decliners Closing on August 31, 2016

The Wall Street Journal

Biggest Decliners Closing
Biggest Decliners
4:31 pm ET 08/31/2016

WSJ | Biggest Gainers Closing on August 31, 2016

The Wall Street Journal

Biggest Gainers Closing
Biggest Gainers
4:46 pm ET 08/31/2016

WSJ | Most Actives Closing on August 31, 2016

The Wall Street Journal

Most Actives Closing
Most Active Stocks by Volume
4:31 pm ET 08/31/2016

CMI | Metals Spot Prices Closing on August 31, 2016

Spot Prices as of traditional New York closing times

Wednesday, August 31, 2016


Wall Street Closing Report, by CNBC on August 31, 2016: Stocks Close Lower as Energy Lags; S&P Snaps 5-Month Winning Streak
Fred Imbert
U.S. stocks closed lower Wednesday, the last trading day of the month, as investors digested falling oil prices and looked ahead to Friday's jobs report.

European Markets Closing Report on August 31, 2016: Europe Closes Down After ADP Report, CommerzBank Rallies 3%

Holly Ellyatt
European stocks closed lower Wednesday as investors reacted to a jobs report in the U.S. and a slew of data from the euro zone.

ADP report released


FTSE FTSE 6789.55
-31.24 -0.46% 540101441
DAX DAX 10609.79
-47.85 -0.45% 63806806
CAC CAC 4450.01
-7.48 -0.17% 77887740
IBEX 35 IBEX 35 Idx 8723.20
37.80 0.44% 179970765

The pan-European STOXX 600 index wended Wednesday provisionally down 0.3 percent with only three sectors in positive territory. The basic resources sector was the worst performer, down 2.7 percent.
Markets were unmoved earlier in the morning by data showing that the euro zone inflation rate remained at 0.2 percent in August, unchanged from the previous month. The region's unemployment rate for July also remained unchanged from the previous month, at 10.1 percent.
Meanwhile later in the session, a U.S report showed job creation at the company level rose about in line with expectations in August, despite weakness in manufacturing and construction. The ADP report is seen as a warm-up for the all-important U.S. jobs data due on Friday. The non-farm payrolls report will be eagerly watched by the U.S. Federal Reserve and could determine whether the central bank increases interest rates in September.
"The U.S. jobs data is the main macro focus of the week. The markets are pursuing an approval to back up Janet Yellen's hawkish stance on the macro front," Ipek Ozkardeskaya, a senior market analyst at London Capital Group, said in a note.
In opening trade on Wall Street, both the Dow Jones Industrial Average and the broader S&P 500 were down around 0.2 percent.

Commerzbank up 4%

Which insurance firm will outperform its peers into year end?

Total Votes:
Not a Scientific Survey. Results may not total 100% due to rounding.
Shares of Commerzbank were up around 3.5 percent after a German magazine report suggested that Deutsche Bank had considered a merger with its German rival. The German Manager Magazin did not cite sources. Neither Deutsche Bank nor Commerzbank would comment on the report. Shares of Deutsche Bank were up around 3.5 percent.
Meanwhile, French industrial group Bouygues' share price was up 2.29 percent after it reported a 73 percent rise in first-half current operating profit despite a slip in sales, Reuters reported. The family-controlled company also announced preparations for the succession of chairman and chief executive Martin Bouygues.
In other news, French Economy Minister Emanuel Macron resigned on Tuesday in order to work on his plan "to transform France" but there is speculation that he will run in the 2017 presidential election.
Meanwhile, British consumer confidence bounced back in August after a Brexit blip, a survey by GfK showed on Wednesday.

FTC Consumer Updates - August 31, 2016: When Your Computer is Held For Ransom by Aditi Jhaveri

Federal Trade Commission Consumer Information

by Aditi Jhaveri
Consumer Education Specialist, FTC 

NYT | The Opinion Pages - August 31, 2016: The Real Clinton Foundation Revelation
Richard W. Painter
When I was the chief White House ethics lawyer for President George W. Bush, I asked many prospective administration officials if they would sell stock in companies, give up stock options, step down from nonprofit boards or make other painful choices to enter public service. Some balked. I told them that someone more important than I was, perhaps the president or the White House chief of staff, would ask them, “Do you want this job or don’t you?”
I know about the difficult questions, and entanglements, that crop up in public service. I believe that Hillary Clinton has asked and successfully answered those questions as they pertain to the Clinton Foundation. There is little if any evidence that federal ethics laws were broken by Mrs. Clinton or anyone working for her at the State Department in their dealings with the foundation. Unfortunately, the foundation is still fuel for Mrs. Clinton’s persistent critics.
These critics have yet to point to any provision of the federal statutes or ethics regulations that was violated by Secretary Clinton or her staff in their dealings with the foundation and its principals, agents and donors. Was there favoritism? Probably, yes. But laws were not broken. If favoritism by political appointees toward outside persons and organizations were illegal, the United States government would be quite different than it is today.
White House political appointees and members of Congress show favoritism regularly, from how quickly they return campaign contributors’ telephone calls to which meeting requests they honor to who gets what they want in the policy arena.
Hillary Clinton on the campaign trail last month. Ruth Fremson/The New York Times
This kind of access is the most corrupting brand of favoritism and pervades the entire government. Under both Republican and Democratic presidents, top ambassadorial posts routinely go to campaign contributors. Yet more campaign contributors hound these and other State Department employees for introductions abroad, preferred access and advancement of trade and other policy agendas. More often than not the State Department does their bidding.
Meanwhile, those of us who know and are frustrated about the way our government works breathe a collective yawn at the unsurprising news that the Clinton Foundation or some other nonprofit also gets what appears to be favorable treatment by a government agency. Lots of people and groups get favorable treatment, and most of these are interested in making money rather than giving it away.
The problem is that it does not matter that no laws were broken, or that the Clinton Foundation is principally about doing good deeds. It does not matter that favoritism is inescapable in the federal government and that the Clinton Foundation stories are really nothing new. The appearances surrounding the foundation are problematic, and it is and will be an albatross around Mrs. Clinton’s neck.
Mrs. Clinton’s critics — many of whom have spent more than 20 years exploiting every opening the Clintons give them (of which there are many) — will continue to hound Mrs. Clinton about the foundation throughout the campaign and, should she win, during her presidency.
This is not the typical foundation funded by family wealth earned by an industrialist or financier. This foundation was funded almost entirely by donors, and to the extent anyone in the Clinton family “earned” the money, it was largely through speaking fees for former President Bill Clinton or Hillary Clinton when she was not secretary of state. This dependence on donations — a scenario remarkably similar to that of many political campaigns — means that the motivations of every single donor will be questioned whenever a President Clinton does anything that could conceivably benefit such donors.
Removing Bill Clinton from the foundation, and leaving Chelsea in place, as the foundation currently intends to do if Mrs. Clinton wins, does not solve the problem. Such an arrangement not only suggests a strong possibility of Bill’s and Hillary’s returning after a Hillary Clinton administration is over, but also that the foundation is being used to further Chelsea’s career and financial ambitions. The truth may be the other way around. But truth matters little in Washington, particularly when one group of politicians and their supporters accuses another of being “unethical.”
This may be a difficult choice for the Clintons, but the answer is obvious. The family should promise now that if Hillary is elected president, all of the Clinton family members will step down from all positions with the foundation and they will not return. The foundation should continue to go about its business, but the Clintons should do something else. And in the meantime, between now and the election, the foundation should immediately suspend all fund-raising and acceptance of donations, not just foreign donations, as it has already done.
As for Chelsea Clinton, anti-nepotism laws, strengthened after President Kennedy appointed his brother Robert as attorney general, could prevent her mother from appointing her to some of the highest government positions. But she could give her mother informal advice, and there are a great many government jobs for which she would be eligible. She does not need the Clinton Foundation to succeed in life.
Millions of American voters will want to know whether Hillary Clinton really wants this job, which is the highest office in a government that spends more money in a single day than the entire net worth of the Clinton Foundation.
I’m a Republican, but I believe that Hillary Clinton is the only qualified major party candidate in the race and she should become president. Yet to win, and certainly to succeed as president, she needs to demonstrate that she understands how much appearances matter, as well as facts and law, and that the president should not unnecessarily open herself up to attack.

U.S. Stock Market Future Indications Update, by MarketWatch: U.S. Stock Futures Edge Lower as ADP Jobs Report Proves Solid
Mark DeCambre, Sara Sjolin
U.S. stock futuresedged lower on Wednesday, following a report of monthly private-sector employment that came in slightly better than Wall Street expectations, potentially adding more reasons for the Federal Reserve to follow through with talk of lifting interest rates.

NYT First Draft: Donald Trump To Visit Mexico After More Than a Year of Mocking It, by Nick Coraasanti and Azam Ahmed

Wednesday, August 31, 2016

The New York Times

The New York Times
Donald J. Trump at a campaign event in Everett, Wash., on Tuesday.
Donald J. Trump at a campaign event in Everett, Wash., on Tuesday. Ruth Fremson/The New York Times
Donald Trump to Visit Mexico After More Than a Year of Mocking It

Bloomberg Markets - August 31, 2016: Five Things You Need to Know To Start Your Day, by Lorcamn Roche Kelly

Bloomberg Markets
Lorcan Roche Kelly

Euro-area inflation, unemployment

U.S. Stock Market Future Indications, by MarketWatch - August 31, 2016: Interest-Rate Chatter Keeps U.S. Stock Futures in Check
Sara Sjolin
U.S. stocks were facing another choppy session on Wednesday, with investors carefully staying on the sidelines ahead of the jobs report later in the week, which could weaken or strengthen the case for a Federal Reserve interest rate hike in September.

DealBook | Today's Morning News on August 31, 2016

The New York Times

 By Amie Tsang 
It’s just a drop in the bucket for Apple, with its cash pile of more than $230 billion. But the company nonetheless described the ruling by Europe that Ireland should recoup 10 years’ worth of back taxes, or about $14.5 billion, as a “devastating blow” to the rule of law.

RT Max Keiser Interview: Apple Won't Pay the 13bn Pounds Unpaid Tax to Ireland: Originally Published on August 30, 2016

Asian Markets Closing Report, by CNBC on August 31, 2016: Asia Markets Trade Mostly Lower; Nikkei Bucks Trend on Weaker Yen
Saheli Roy Choudhury
Taylor Weidman | Bloomberg | Getty Images
Markets in Asia traded mixed on Wednesday, with Japanese shares gaining on the back of a weaker yen, while traders awaited the key August U.S. nonfarm payroll data due Friday.

Bloomberg View | Share The View: The Taxman Comes For Apple
Share the View
Apple Finds Out It Took the Tax Game Too Far 

The Guardian | UK | Media | Media Briefing on August 31, 2016: Apple v EU, Jeremy Paxman, Rav Wilding
The European Union may not be particularly popular with the bulk of the British press, but the last week has shown that the EU is one of the few organisations prepared to take on another favourite hate figure for much of the media – Silicon Valley.