saveyourassetsfirst3 |
- St. Jude Medical's Weaker Guidance Presents Another Opportunity
- Playing the Gold Price Averages in Summer 2012
- Tampa Firm Recovers 48 Tons of Silver Bullion
- Geithner – Things are Stuck, Need to get Unstuck
- Argonaut Gold Announces Q2 Gold Production of 24,123 Ounces
- Gold Discoveries Fall Short of Mined Output
- How To Purchase Gold and Silver
- 11 International Agreements That Are Nails In The Coffin Of The Petrodollar
- ECB: gold and gold receivables remain unchanged
- Very Real Danger of Collapse: “Could Be So Severe I Don’t Think Our Civilization Could Survive It”
- Game Changer For Gold In UK As New Regulation Favours Gold
- HSBC boss quits for failing to stop money laundering
- Spanish 10 Yr Yields Remain Elevated / Big Problems Over In Sicily Which May Default Momentarily / Moody’s Lowers The Boom On Unicredit And 13 Other Italian Banks
- Peter Schiff: A Much Bigger Collapse is Coming
- QE delay risks turning Fed into a political football
- Are Lower Stock Prices in the Cards and What Would it Mean for Gold?
- Metals Subdued as QE Remains Quite Elusive
- Stock Market Cycles Are Topping This Week
- Silver Update: Silver Manipulation – 7.17.12
- 'Game Changer' For Gold in UK with New Regulation
- Why We All Need Some Bullion in the Vault
- Bullion 'Saddled with Uncertainty' Over QE
- Alan Newman talks Precious Metals
- Reserves and Resources: A Primer for the Lay Investor
- Links 7/18/12
- Iran Economic Sanctions Begin To Create Big Trouble
| St. Jude Medical's Weaker Guidance Presents Another Opportunity Posted: 18 Jul 2012 11:59 AM PDT By Stephen Simpson: At the risk of being accused of trying to spin straw into gold, I can't bring myself to get all that worked up about St. Jude Medical's (STJ) modest shortfall in Q2 and lower guidance for 2012. Yes, in the momentum-driven "what have you done for me lately" world of Wall Street, that's a bad thing. But my bullish thesis on St. Jude wasn't really about what the company would do in 2012, and the company's long-term opportunities still look attractive. FX Headwinds, And Some Pricing Pressure To Boot While the businesses are admittedly quite different, St. Jude's second quarter revenue growth doesn't stack too well against the operating growth seen in the device businesses at Johnson & Johnson (JNJ) or Abbott (ABT). Revenue at St. Jude declined 3% on a reported basis and rose just 1% in constant currency. CRM revenue fell about 3%, with ICD revenue down 1%. Complete Story » | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Playing the Gold Price Averages in Summer 2012 Posted: 18 Jul 2012 11:17 AM PDT Summer 2012 is sticking right to the typical Gold Price pattern so far... | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tampa Firm Recovers 48 Tons of Silver Bullion Posted: 18 Jul 2012 08:51 AM PDT The Odessey strikes again. Wonder of they'll get to keep it? That's 1,400,000 ounces in bars. WoW! Must 1000 oz bars. http://articles.orlandosentinel.com/...silver-bullion edit: company says that be be only 20% of what is still on the wreck. And BTW, The Brits get a 20% cut. I didn't realize that Odyssey Salvage is a publicly traded company which is still in the hole, financially. The stock dropped 6% on the news. Go figure. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Geithner – Things are Stuck, Need to get Unstuck Posted: 18 Jul 2012 08:50 AM PDT CNBC's Larry Kudlow interviews U.S. Secretary of the Treasury Timothy Geithner at the Delivering Alpha conference in New York Wednesday, July 18, 2012. "Things are stuck. They need to get un-stuck," says the Sec/Treas in this excellent interview with Larry Kudlow.
Mr. Geithner comes from the side of the argument that says we have to raise revenues (taxes) to catch up with runaway government spending. Isn't that a bailout – of profligate, big spending, vote pandering politicians? Freedom and small government loving citizens are on the other side of the contest. To get balance when government spending has become ridiculous means, simply and certainly, across the board real cuts in the problem – too much spending – and less Federal government meddling in too many things it shouldn't be involved in. Source: CNBC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Argonaut Gold Announces Q2 Gold Production of 24,123 Ounces Posted: 18 Jul 2012 08:32 AM PDT TORONTO, ONTARIO–(Marketwire – July 18, 2012) - Argonaut Gold Inc. ("Argonaut Gold" or the "Company") (TSX:AR) announced today that the Company produced 24,123 gold ounces during the 2nd quarter ended June 30, 2012 at its 100% owned El Castillo Mine ("El Castillo") which is located 100 km north of the city of Durango, Mexico and its 100% owned La Colorada Mine ("La Colorada") which is located 50 kilometers southeast of Hermosillo, Mexico. Operational progress at El Castillo and La Colorada continue to ramp-up production. SECOND QUARTER 2012 HIGHLIGHTS: El Castillo
La Colorada
Exploration
Financial
SECOND QUARTER 2012 El CASTILLO OPERATING RESULTS: Second quarter operating statistics showed improvement over 2011 second quarter results. Ore production from the first half of the year is currently at an annualized rate of approximately 11 million tonnes. On the west side of the property, construction was completed on cell 7A. Third quarter production is expected to improve over the second quarter with the production of approximately 20-21,000 ounces of gold. Production at El Castillo is expected to move towards a 20-23,000 ounce production rate in the fourth quarter of this year. Full year guidance is 75,000-80,000 ounces of gold.
Richard Rhoades, Chief Operating Officer of Argonaut Gold said: "The 10% improvement in gold production at El Castillo was a significant milestone at the mine. Two additional accomplishments for the quarter were the completion of leach pad 7A and the implementation of a stacking-conveying system that is to be commissioned later this month. Initially, day shifts will be utilized for training on the new conveying system, with the goal to implement a 24 hour conveying operation by Q3. The impact of adding the conveying system to the operation should be evident in the fourth quarter production numbers as we anticipate an increase in the material moved." SECOND QUARTER 2012 LA COLORADA OPERATING RESULTS: The second quarter operating statistics showed production from the reprocessing of existing run of mine leach pad material at La Colorada. To date, approximately half of the Phase I run of mine material to be reprocessed has been recrushed and stacked for leaching. Construction has begun on pads 8, 10 & 11 and one half of the capacity is expected to be completed in the third quarter. In addition, during the third quarter the crusher will be down for approximately one month as it is relocated to a more permanent location, near the new pads currently under construction. The next steps at La Colorada will involve reprocessing loose material in the pit, followed by full scale mining by Q1 of next year. Due to the crusher relocation, the third quarter production expectations are approximately 3,000 ounces of gold, while 2012 guidance at La Colorada remains at 13-17,000 ounces. The desorption and recovery circuit has been commissioned, and carbon from El Castillo and La Colorada is being processed.
Discussing the Company's recent completion of the ADR plant at the La Colorada site Mr. Pete Dougherty, President and CEO said "the Company is now processing carbon from El Castillo and La Colorada on site. This important accomplishment has reduced the sales cycle time from approximately 6 weeks to 1 week. The long term goal is for the ADR circuit to handle the stripping and refining for the Company's primary Mexican operations. We are pleased with the improvement in our sales time as a result of implementing the ADR plant. I'm proud of the team's accomplishments so far this year. By continually improving our processes in our daily operations we look to continue production growth, finishing the year strong." About Argonaut Gold Argonaut Gold is a Canadian gold company engaged in exploration, mine development and production activities. Its primary assets are the production-stage El Castillo Mine in the State of Durango, Mexico, the production stage La Colorada Mine in the State of Sonora, Mexico, the advanced exploration stage San Antonio project in the State of Baja California Sur, Mexico, and several exploration stage projects, all of which are located in Mexico. Creating Value Beyond Gold Cautionary Note Regarding Forward-looking Statements This press release contains certain "forward-looking statements" and "forward-looking information" under applicable Canadian securities laws concerning the proposed transaction and the business, operations and financial performance and condition of Argonaut Gold Inc. ("Argonaut"). Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to estimated production and mine life of the various mineral projects of Argonaut; synergies and financial impact of completed acquisitions; the benefits of the development potential of the properties of Argonaut; the future price of gold, copper, and silver; the estimation of mineral reserves and resources; the realization of mineral reserve estimates; the timing and amount of estimated future production; costs of production; success of exploration activities; and currency exchange rate fluctuations. Except for statements of historical fact relating to Argonaut, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of Argonaut and there is no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include changes in market conditions, variations in ore grade or recovery rates, risks relating to international operations, fluctuating metal prices and currency exchange rates, changes in project parameters, the possibility of project cost overruns or unanticipated costs and expenses, labour disputes and other risks of the mining industry, failure of plant, equipment or processes to operate as anticipated. Although Argonaut has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Argonaut undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered if the property is developed. Comparative market information is as of a date prior to the date of this document. Qualified Person Preparation of this release was supervised by Thomas Burkhart, Argonaut Gold's Vice President of Exploration, and a Qualified Person under NI 43-101. For additional information on El Castillo please refer to the "NI 43-101 Technical Report on Resources and Reserves, Argonaut Gold Inc., El Castillo Mine, Durango State, Mexico" dated Nov. 6, 2010 and further information on La Colorada please refer to the "NI 43-101 Preliminary Economic Assessment La Colorada Project, Sonora, Mexico" dated December 30, 2011, both of which and available at Argonaut Gold's website and profile onwww.sedar.com. For Contact Information Argonaut Gold Inc.
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| Gold Discoveries Fall Short of Mined Output Posted: 18 Jul 2012 08:26 AM PDT The almost 100 significant gold discoveries between 1997 and 2011 could potentially replace only 56% of the estimated gold mined during that same period, a study by Metals Economics Group, Halifax, Nova Scotia, has concluded. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| How To Purchase Gold and Silver Posted: 18 Jul 2012 08:15 AM PDT What are the advantages of buying gold and silver? Precious metals are a great way of preserving purchasing power during times when economic collapse threatens. But how about the pros and cons of ... | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 11 International Agreements That Are Nails In The Coffin Of The Petrodollar Posted: 18 Jul 2012 07:46 AM PDT
from theeconomiccollapseblog.com: Is the petrodollar dead? Well, not yet, but the nails are being hammered into the coffin even as you read this. For decades, most of the nations of the world have used the U.S. dollar to buy oil and to trade with each other. In essence, the U.S. dollar has been acting as a true global currency. Virtually every country on the face of the earth has needed big piles of U.S. dollars for international trade. This has ensured a huge demand for U.S. dollars and U.S. government debt. This demand for dollars has kept prices and interest rates low, and it has given the U.S. government an incredible amount of power and leverage around the globe. Right now, U.S. dollars make up more than 60 percent of all foreign currency reserves in the world. But times are changing. Over the past couple of years there has been a whole bunch of international agreements that have made the U.S. dollar less important in international trade. The mainstream media in the United States has been strangely quiet about all of these agreements, but the truth is that they are setting the stage for a fundamental shift in the way that trade is conducted around the globe. When the petrodollar dies, it is going to have an absolutely devastating impact on the U.S. economy. Sadly, most Americans are totally clueless regarding what is about to happen to the dollar. One of the reasons the Federal Reserve has been able to get away with flooding the financial system with U.S. dollars is because the rest of the world has been soaking a lot of those dollars up. The rest of the world has needed giant piles of dollars to trade with, but what is going to happen when they don't need dollars anymore? Could we see a tsunami of inflation as demand for the dollar plummets like a rock? Keep on reading @ theeconomiccollapseblog.com | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ECB: gold and gold receivables remain unchanged Posted: 18 Jul 2012 07:44 AM PDT | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Very Real Danger of Collapse: “Could Be So Severe I Don’t Think Our Civilization Could Survive It” Posted: 18 Jul 2012 07:38 AM PDT
from shtfplan.com: The single most important factor responsible for fueling the last several decades of economic growth has been credit expansion. Whether it's central banks lending money to large financial institutions, or private banks dispersing funds to businesses and individuals, our lifestyles simply would not have been made possible without it – builders couldn't build homes, manufacturers couldn't acquire raw materials, and consumers wouldn't be able to consume. Living in a country whose currency happens to be the reserve trade instrument for the entire globe has had its benefits. We've built huge homes, enjoyed healthy diets, taken luxurious vacations; we've even exported menial jobs that no civilized members of society would ever engage in to third world labor camps. In the process we've expanded our national debt to unprecedented levels, with some estimates suggesting that our total liabilities and commitments are approaching nearly $200 trillion in the next twenty five years. By all accounts, we live in a system built on nothing more than a promise to repay what we've borrowed. This reverse trickle-down economics has left everyone bloated with debt, including the government as a whole, as well as the individual American who has bought his house, car, furnishings and overall lifestyle by taking on insurmountable levels of debt. Keep on reading @ shtfplan.comVery Real Danger of Collapse: "Could Be So Severe I Don't Think Our Civilization Could Survive It" | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Game Changer For Gold In UK As New Regulation Favours Gold Posted: 18 Jul 2012 07:36 AM PDT gold.ie | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| HSBC boss quits for failing to stop money laundering Posted: 18 Jul 2012 07:21 AM PDT
from telegraph.co.uk: HSBC has been forced to apologise publicly before the US Senate – and saw its compliance chief resign – over facilitating a multi-billion-dollar money-laundering operation for drug gangs, terrorists and rogue nations worldwide. Keep on reading @ telegraph.co.uk | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 18 Jul 2012 07:17 AM PDT
from harveyorgan.blogspot.ca: Good evening Ladies and Gentlemen: The price of gold fell by $2.10 to $1589.10. The price of silver finished the comex session down one cent to $27.29. Today's trading was nothing but a reaction to the Bernanke testimony. In a nutshell, here was what Bernanke stated today: CIGA Vivi Keep on reading @ harveyorgan.blogspot.ca | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peter Schiff: A Much Bigger Collapse is Coming Posted: 18 Jul 2012 07:09 AM PDT
from beaconequity.com: Euro Pacific Capital CEO Peter Schiff received top headline on Yahoo Finance News Tuesday, encouraging investors to loading up on gold and silver before the rush from global investors into precious metals becomes the only game in town. The global financial crisis will inevitably move to the other side of the Atlantic to the U.S., as the focus on the dollar's terrible fundamentals once again puts pressure on the Treasury market. And when that day comes, the selling of US debt and market turmoil it will ignite will dwarf Europe's sovereign debt catastrophe, according to him. "We've [U.S.] got a much bigger collapse coming, and not just of the markets but of the economy" Schiff tells Yahoo's Breakout host Jeff Mack. "It's like what you're seeing in Europe right now, only worse." Keep on reading @ beaconequity.com | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| QE delay risks turning Fed into a political football Posted: 18 Jul 2012 07:05 AM PDT
from goldmoney.com: Another Ben Bernanke performance in front of the US Senate momentarily caught the attention of financial markets yesterday, up until the point when it became clear that the Fed wouldn't be liquoring up the joint with more QE just yet. Despite the litany of bad economic stats in the US over the last three months or so, Bernanke noted that "we haven't really come to a specific choice at this point" (regarding more stimulus), though he commented that "we are looking for ways to address the weakness in the economy should more action be needed." Over at The Big Picture blog, Peter Boockvar summed up the state of play regarding the Fed and "QE3" well, prior to Bernanke's testimony: "As long as cheap money/QE remains in the psyche of most of our current Fed members, including the Chairman, as the answer to any economic downturn, its use will always be a possibility with only the pain threshold that triggers it being the question. Today we'll get a sense of Bernanke's tolerance for what's clearly a slowing in growth. If Bernanke doesn't give the market what it wants today, the ensuing market selloff in the context of a fragile economy will just clinch an eventual QE program [sic]." Keep on reading @ goldmoney.com | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Are Lower Stock Prices in the Cards and What Would it Mean for Gold? Posted: 18 Jul 2012 07:00 AM PDT SunshineProfits | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metals Subdued as QE Remains Quite Elusive Posted: 18 Jul 2012 06:11 AM PDT The midweek trading session in New York started with fresh declines across the precious metals' price boards as the US dollar resumed its ascent on the trade-weighted index in the wake of an "uncooperative" Fed. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock Market Cycles Are Topping This Week Posted: 18 Jul 2012 06:01 AM PDT I have put together a very detailed video this morning coving bother some long term, short term and market cycles. The video is a little longer than normal but I want you to understand fully where the market is trading and what to look for in the coming days. Pre-Market Analysis Points: - Dollar is trading higher this morning which is putting pressure on stocks & commodities. - Fed Chairman Bernanke Testifies at 10am ET which will cause all investments to move wild. - Oil is trading slightly lower and oil inventory numbers come out at 10:30am ET. - Natural gas is flat and continues to build a base at resistance for a possible future breakout. - Gold, Sold Miners and Silver continue to consolidate within a multi month pattern. A major move is brewing but has not been triggered as of yet. - Bonds are trading up from yesterday's close after pulling back from reaching our double top price target on Monday. - SP500 is nearing a couple resistance levels (previous pivot high, down trend line) Momentum, short term and intermediate cycles are starting to top and that means we should be prepared for a pullback/down trend which could last 4-6 weeks.
Watch Video For Clarity Get This Video Analysis EVERY MORNING here: www.GoldAndOilGuy.comChris Vermeulen | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Silver Update: Silver Manipulation – 7.17.12 Posted: 18 Jul 2012 05:33 AM PDT brotherjohnf: Silver Update 7/17/12 Silver Manipulation from brotherjohnf: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 'Game Changer' For Gold in UK with New Regulation Posted: 18 Jul 2012 05:24 AM PDT Gold dropped off in later trading in Asia and then recovered losses for the open in European trading prior to further weakness where it is trading just below $1,580/oz. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Why We All Need Some Bullion in the Vault Posted: 18 Jul 2012 05:09 AM PDT An interview with BullionVault's Adrian Ash by the Wealth Watch newsletter... | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bullion 'Saddled with Uncertainty' Over QE Posted: 18 Jul 2012 04:56 AM PDT Wholesale market gold prices ticked lower Wednesday morning in London, dropping below $1,580 an ounce, while stock markets and commodities were broadly flat and US Treasuries gained. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Alan Newman talks Precious Metals Posted: 18 Jul 2012 04:50 AM PDT On this week's show David finishes his discussion with Alan Newman: from mcalvanyfinancial: ~TVR | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reserves and Resources: A Primer for the Lay Investor Posted: 18 Jul 2012 04:30 AM PDT The Gold Report | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 18 Jul 2012 03:55 AM PDT Lambert has a mini fundraiser on! He is seeking a modest $1200 to cover site costs before an upgrade. If you like his campaign coverage, I suggest you go pronto to wepay and give him a donation. If you are flush, $50 would be nice, if you are not so flush, even $5 helps him get closer to his goal. Woman Accused of Murder for Attempting Suicide While Pregnant Refuses Plea Deal Alternet Portugal Decriminalized All Drugs Eleven Years Ago And The Results Are Staggering Pres. Could Seize Radio, Internet, under New Exec. Order The Progressive (LeeAnn) Obama, Clinton 'prejudiced' WikiLeaks suspect's case AFP Fukushima Radiation May Cause 1,300 Cancer Deaths, Study Finds Bloomberg. So much for those who pooh poohed people who raised health concerns. But very few deaths are expected in the US. China's Wen Warns Of Severe Job Outlook As Growth Yet To Rebound Bloomberg. I have no insight into what "severe" means when it comes from a Chinese leader, but in Japan, "severe" translated roughly as "really grim". China's off-balance sheet lending explosion MacroBusiness Euro Leaders Sleepless Summits Seen Prone To Mistakes Bloomberg Savings remain elusive ekathimerini How London became the money-laundering capital of the world Ian Fraser (Richard Smith) London 2012: Police told to empty crisps into plastic bags to avoid advertising rival brands in Olympics Telegraph (Richard Smith) Official *what* of the Olympics? The spirit of London 2012 in one obnoxious billboard. Lockerz (PM) Liborfest!
The Pentagon's New Generation of Secret Military Bases Mother Jones. You need to read this. Deranged. New Thoughts About What's Hiding in Romney's Tax Returns Josh Barro, Bloomberg Ben Bernanke headed toward a cliff as US politics and markets collide Guardian What will federal budget cuts mean for local economies? Christian Science Monitor. Assume the brace position. Level of bank reserves at a central bank not linked to loan growth Financial Times (Scott) At the Forefront Once Again? Michael Panzner What's missing from Delaware's settlement with MERS? Alison Frankel. Wow, she doesn't get that the issue of whether the note can be separated from the lien isn't settled. And the real issue with suits against MERS in general is MERS is the perfect front. Pretty much no assets, nothing to get. You need to find a theory to get the originators/deal sponsors on the hook along with MERS to get to meaningful damages, and that is not trivial. Goldman Settles Class-Action Over $698 Million Offering Bloomberg Goldman Sachs feels the chill as income falls to seven-year low Independent Hendry – 'Bad things are going to happen' Financial Times. * * * lambert here: D – 52 and counting* Please, sir, may I have some more? –Charles Dickens, Oliver Twist Montreal. Social strike: "The day after its congress, which took place on Saturday at University de Laval, [CLASSE] yesterday reaffirmed its determination to oppose "neoliberal policies" and to rally Quebeckers to its 'social strike' through dialog, whether or not elections take place." AK. The franchise: "Barbara Bachmeier is facing a problem that it's unlikely many political candidates have had to face. How does she prove that, while she had no fixed address (she was homeless), she was living in the district she's seeking to serve in the State House?" CT. Public goods: "A Bridgeport high school teacher spoke of scrambling to find chalk, and of not having enough paper to give students during their final exams." Second- or third-world. Compare and weep. FL. Corruption: "When state Sen. Jack Latvala, R-Clearwater, held a fundraiser to promote his bid for Senate president, the invitation was straight and to the point: 'No maximum amount.'" … Voting: "With a heady surge of voter approval over his handling of the voter purge, and a recent decision by DHS to give the state access to its immigration list, the R Party of FL sees a message moment." So Obama's DHS gave Scott a reach-around? Nice! IA. Water: "High corn prices — now approaching $8 a bushel — will force many pork producers out of business, [Bill Tentinger of LeMars, president of the Iowa Pork Producers Association] said Tuesday at a drought status meeting called by Gov. Terry Branstad." Now watch small government free market Rs ask for public money. MA. Public goods: "I thanked the stars I live in a state, and city, that believes in the Common Good. We have striven not to gut our fire and police services, nor to force families to watch their homes burn to the ground with their pets inside for forgetting to pay a specific fee." ME. Landfill, offical shenanigains: State schedules two critical landfill expansion hearings at the same time, forcing citizens — though not lobbyists — to choose between them. Well done! NC. Public relations: "In fundraising messages, the convention host committee has taken to calling the stadium where Obama will accept the D nomination 'Panther Stadium' rather than 'Bank of America Stadium.'" Panther? Why not PUMA? NY. Corruption: "[Cuomo's] aides communicate with untraceable messages sent from BlackBerry to BlackBerry. Nothing delicate is shared using e-mail. And in-boxes are regularly wiped clean." Just like Gov. Romney erasing those hard drives. … Fracking: "As head of the Department of Environmental Conservation's Division of Mineral Resources, Bradley J. Field is a prominent figure in an agency that has promoted hydraulic fracturing as a risk-free and impeccably regulated technology with a proven track record in New York. Perhaps it's relevant that Field also sees global warming as a good thing." … Fracking: "Data on violations are not publicly available, making it impossible to be sure that the [Department of Environmental Conservation] is doing its job. The agency does not utilize complaints by citizens directly impacted by drilling to improve oversight." OH. Fracking: "[OBAMA:] … [T]he fact of the matter [#1] is that there are a lot of folks [#2] right now that are engaging in hydraulic fracking who are doing it safely." Two tells: "Fact of the matter" signals a lie; "Folks" means "powerful insiders." PA. Fracking: "Some 40 of the 158 Pennsylvania aquifers his team studied were unusually salty, contaminated with brine from salt aquifers that occur at the same depth as fracking operations. Cracks in the rock must have allowed the brine to migrate hundreds of metres upwards. Gas from deep fracking operations could travel in the same way." … Corruption: "The PA Office of Attorney General is investigating the PA Turnpike Commission for potential abuse-of-power practices, according to recently unsealed court documents." TX. Public good: "'I think it's huge that we got a judge to acknowledge that the atmosphere is a public trust asset and the air is a public trust asset,' [lawyer Adam] Abrams said. 'It's the first time we've had verbage like this come out of one of these cases.' Adam Abrams, one of the attorneys arguing the case against TCEQ, said Triana's ruling could be used as a persuasive argument in lawsuits pending in 11 other states." ..Corruption: "At first I hesitated because I know that is against regulations," she said. "But I didn't know what would happen to me if I said no." That's how impunity works. VA. ObamaCare: "Foes object that VA can ill afford even $2.2 billion over the next 10 years. They also argue that Medicaid is broken. Provider payments are so low that 28% of doctors say they do not accept new Medicaid patients." Easy peasy. Save the country $350 billion a year with single payer. … UVA kumbaya: "[SULLIVAN:] But it will also be necessary for us to pursue reconciliation with those with whom we differed, to repair relationships that have frayed and always to let civility replace hostility. To the extent that I am able, I will lead this effort by example." VT. Ballot access: "[A] Vermont Superior Court in Montpelier will hear Anderson v State of Vermont. This is the case filed by the Justice Party over Vermont's awkward procedures for submitting [ballot access] petitions. … Rocky Anderson submitted the needed 1,000 valid signatures by the deadline but he is still not on the ballot because the town clerks took too long to check the signatures." WI. Public goods: "According to Vinny, a WTDY listener, when he asked Sen. Glenn Grothman 'Why are you trying to destroy education in this state?' Grothman's answer, 'It's on the decline anyway.'" … Water: "The owners of the well have been told that they 'needed to start boiling our water or buying water,' per an email I had received. [T]he well owners have to pay for the testing and treatment of their wells out of pocket." Read full story for corruption. Outside baseball. Water, food: "Jeff Born, Northeastern: "[I]f you like bacon/pork you should buy it now, because by the fall you are going to be stunned at what it will cost." Assuming, of course, I've got a freezer and can pay for the power to run it. No water, no corn. … Water, power: "'The conflicts between energy and water needs are ones we've seen before … and will only worsen as the frequency of drought increases and water temperatures rise driven in part by climate change,' said Ulla Reeves, regional program director at the Southern Alliance for Clean Energy." … "The issues": "Especially in a period of strong party polarization, the candidate's party affiliation tells you just about everything you need to know about his or her issue stances." Like Obama passing RomneyCare tells you there's not a dime's worth of difference. Grand Bargain-™brand Catfood watch. Disability: "Some members of Congress have begun leveling accusations that rising enrollment in Social Security's disability insurance program is evidence of growing American dependence on the government, and even a "slave" mentality. [And they should know] [Says CBO:] The rise in America's ranks of disabled to 8.3 million in 2011 stems from an aging population, a surge in women workers, changes in the law in the 1980s and a terrible economy in which disabled people can't find jobs." Media critique. Conservative blogger #FAIL: Very true. Read, and you'll see this astute blogger is blind to a "creative class" incestuous elite #FAIL. "The economy." New normal: "Economists now expect the below-average growth that the [whose?] economy has been experiencing to continue for quite a while." Yes but Bain, also too old white men. The trail. What it takes: "Running for president is, in so many ways, having to tell one's life story in a way that people can relate to. Once you consider that, you see why Maraniss writing about Obama's storytelling is so important, and why Mitt Romney's struggle to relate is not as frivolous as many might think." Robama vs. Obomney. One constituency: "[OBAMA:] If you've got a business, you didn't build that. Somebody else made that happen." True! … Another consituency: "[ROMNEY:] [I]nsulting to every entrepreneur and every innovator in America." Also true! … For an excellent analysis of what happens when the two dominant ruling class factions succeed in mutually delegitimizing each other and hence, their class as a whole, see the Archdruid's "The Distant Sound of Tumbrils". Ron Paul. The franchise: "[Paul's] futile effort over the weekend to get enough delegate votes to secure a speaking spot at the convention marks the end of the road for the 76-year-old candidate." Romney. Tax returns: "[ROMNEY:] I pay all the taxes that are legally required and not a dollar more. I don't think you want someone as the candidate for president who pays more taxes than he owes." My father did just that, but never mind. … Oppo: "[ROMNEY:] I'm simply not enthusiastic about giving them hundreds or thousands of more pages to pick through, distort, and lie about." I'm not 100% in schadenfreude mode here: Like the rest of us, Lord Richistan's trapped in a situation where whatever he does is wrong and will be used against him. The game is rigged, so why not say "Two years of tax returns is all you get!" and kick over the board? Obama. Race card: "Senate Majority Leader Harry Reid (D-Nev.) says a group of 'angry old white men' is bankrolling conservative outside groups that are spending millions to influence the fall elections." If Reid, besides being "white" and "old," had gotten "angry" and nuked the filibuster in 2009, the Ds wouldn't be whining about how those mean Rs prevented them from passing legislation. … So wrong: "I think Obama is a jerk, a pantywaist, a lightweight, a blowhard. He hasn't done a goddamn thing that he said he would do." That's far too charitable. But the Weekly Standard quoting In These Times is a turn-up for the books! Bain flap. It's working: "There are signs the negative ads and focused discussion on Romney's business background are hurting the R in much the same way the attacks on John Kerry's Vietnam service hurt the D nominee in the 2004 race, when national numbers held but key biographical metrics began to erode for Kerry." … Discernment: Nuanced wrap-up from the essential CJR: "Some claims are too important to [fact] check." * 52 days until the Democratic National Convention ends with corvid pie on the floor of the Antidote du jour:
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| Iran Economic Sanctions Begin To Create Big Trouble Posted: 18 Jul 2012 03:26 AM PDT Iran must import unleaded gasoline to meet drivers' demands. They ship crude oil out and gasoline back into that nation. The government was previously subsidizing gasoline offering drivers a way below market price. This has ceased entirely or, has been reduced drastically. Inflation is stronger and gas prices along with food prices are much higher. We predict the Iranians find a way around the sanctions. Iranians Replace Meat With Pasta as Oil Sanctions Hit Nation. "Now only Chinese companies are willing to trade with Iranians…" "European Union sanctions against Iran took effect yesterday, banning imports of the country's crude, restrictions that build on earlier U.S. and United Nations measures limiting trade with the Islamic Republic." "Iran's economy has deteriorated amid the sanctions, which have weakened the national currency and pushed up costs that were already surging after the government started removing energy and food subsidies a year and a half ago. Inflation accelerated to +22.2% in the 12 months ended May 20, the Central Bank said." "The EU embargo on Iranian oil purchases comes as three rounds of negotiations this year between Iran and world powers over the country's nuclear-enrichment program failed to reach a breakthrough. Iran rejects allegations by the U.S. and its allies that its nuclear program is aimed at developing weapons. Iranian officials have remained defiant, repeatedly saying punitive measures won't make Iran abandon its atomic program." "The Iranian nation will never stop on its path of progress and will stand firmly in the face of all the greedy demands and oppressive sanctions," Vice President Mohammad Reza Rahimi said yesterday, according to the website of state television. "We are faced today with the most severe sanctions and we are asking people to help their officials so that they are not swayed from the path of progress due to some temporary confusion in the market." "Iranian central bank Governor Mahmoud Bahmani said the country has a "very suitable" $150 billion in foreign currency reserves to help weather the crisis. "We have programs to fight the sanctions, and we will confront hostile policies," Bahmani said yesterday, according to the state-run Mehr news agency." "Iranian officials seem to have shelved plans to further increase energy and food prices this year as part of a five-year program started in Decembe,r 2010 to gradually remove subsidies. 'The adoption of a next step in reforming subsidies by increasing prices has been completely taken off the agenda,' Economy Minister Shamseddin Hosseini said, the state-run Iranian Students News Agency reported yesterday." "The government also said it's combating high prices and shop owners' hoarding goods by sending inspectors to the bazaars. Merchants selling goods at inflated prices will be fined and their businesses will be closed if they receive three citations, said Nematollah Torki, Tehran's deputy governor for planning, the state-run ISNA news agency reported today." "The Iranian Rial has lost about half its value on the open market, reaching 19,950 rials to the dollar today from 13,200 on November 2. Iran's economy will shrink -1% this year, the World Bank said in a June, 12 report. The $480 billion economy is expected to contract -0.7% in 2013, it said. Supreme Leader Ayatollah Ali Khamenei told Iranians in a speech marking the start of the March 20 Iranian New Year that the best way to combat the sanctions was to shun imports and buy domestic goods. "Now only Chinese companies are willing to trade with Iranians," Qomi said." -Ladane Nasseri and Yeganeh Salehi 7-2-12 Bloomberg.net
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