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lunar 15.01.2009 22:10

Apple’s Cook Pushes Staff in Lieu of Jobs’s Magic (Update1)

By Dina Bass and Connie Guglielmo

Jan. 15 (Bloomberg) -- Apple Inc. founder and Chief Executive Officer Steve Jobs is prone to fits of passion, table pounding and screaming.

Tim Cook, who will oversee the company while Jobs takes medical leave, never raises his voice. Still, Cook’s management style won’t be a shift for employees. He’s been quietly running the company for several years, said Mike Janes, who worked with the executive for five years at Apple.

“Steve is the public face of Apple and nothing beats when he goes out and says, ‘Ta-da,’” said Janes, who ran Apple’s online store. “But at the end of the day, someone has to take all those amazing product designs and turn them into that big pile of cash you see in the company’s bank account. That’s Tim.”

Known for marathon meetings and late nights at the office, Cook will have to keep Apple running smoothly until Jobs’s planned return in June -- all while reassuring investors that he shares Jobs’s flair for marketing and innovation. Jobs has personified Apple since he returned to the Cupertino, California- based company in 1997.

Cook, 48, has filled in for Jobs before, during the CEO’s cancer treatment in 2004. Jobs, 53, underwent surgery for a rare form of pancreatic cancer that year, keeping him away from Apple for more than a month. Cook’s earlier stint should help calm investors’ concerns, said Michael Gartenberg, an analyst at Jupitermedia Corp., who has covered Apple for 13 years......

full story:

lunar 16.01.2009 10:35

16 January 2009

Bank of America to Receive Additional $138 Billion in Government Assistance

The situation must have been rather dire indeed. They did not even wait for the weekend.

Its a nice amount of government aid for a single company. Too bad GM is not a bank.

Some animals are more equal than others.

BloombergU.S. Gives Bank of America $138 Billion Lifeline
By Scott Lanman and Craig Torres

Jan. 16 (Bloomberg) -- The U.S. government agreed to invest $20 billion more in Bank of America Corp. and backstop $118 billion of its assets to help the lender absorb Merrill Lynch & Co. and prevent the financial crisis from deepening.

The government agreed to the rescue “as part of its commitment to support financial market stability,” the Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. said today in a e-mailed joint statement.

Hours earlier, the U.S. Senate voted to allow the release of $350 billion in financial rescue funds, the second half of the $700 billion Troubled Asset Relief Program enacted Oct. 3 by President George W. Bush.

The U.S. already had injected $15 billion into Bank of America, the country’s biggest lender, and another $10 billion to Merrill to bolster the combined company against the global credit crunch.

Bank of America will absorb the first $10 billion of losses in the pool, of which the “large majority” of assets were assumed by the company in the Merrill purchase, the government said. The Treasury and FDIC will share the next $10 billion of losses.

The Fed will backstop assets with a loan after the government’s first $10 billion in losses, the agencies said.

Future Losses

The asset pool includes cash assets with a current book value of as much as $37 billion and derivatives with maximum potential future losses of as much as $81 billion, according to the term sheet provided by the government.

Separately, the FDIC said it plans to propose changing its bond-guarantee program for banks to cover debt as long as 10 years, from the current three-year maturity. The FDIC will soon propose rule changes to the Temporary Liquidity Guarantee Program, today’s statement said.

“The U.S. government will continue to use all of our resources to preserve the strength of our banking institutions and promote the process of repair and recovery and to manage risks,” the joint statement said.

Shares of Bank of America plunged 18 percent yesterday, sliding to $1.88 to $8.32 in New York Stock Exchange composite trading after hitting $7.35, its lowest level since February 1991.

The bank moved up its fourth-quarter report to today at 7 a.m. New York time.

Posted by Jesse at 12:50 AM :verbeug

lunar 16.01.2009 15:48

Join Date: Feb 2007
Rangel to reintroduce military draft measure
Originally Posted by Cyclist

12-02-2006, 02:46 PM
Member Join Date: Oct 2006
Posts: 2,331

Gold projection long term


As written in June will give to the readers my perspective.

my manual charts of the Toronto gold mine index since the war 1945.
The index gave a high in 1945 ,it had a long decline
till December 1957 where the index had an all time
low of 200 and was the start of a 22 year long gold super cycle with 6 year intervals.The next lows were in December 1963,December '69,December '75 ,with a retest low in August '76 and finishing the supercycle January '80 with an index high of 6500
The low in January '82 gave another retest low in August '82.We made another low in December '87 and retested the low in Dec '88.The next projected low December '93 became a pivot point as it became a major high.
The decline that followed into a low in September '99 , retested the alltime low in October/November 2000
At this point,it was the start of the new gold super cycle.Sometimes this fall 2007 we will get a new low and the start of wave three as was the case with '63 to '69 where'68 was a cyclical top.That would bring us
to a projected cyclical top in 2011.
Crude oil runs in 13 year lows with 10 year cyclical tops. The lows '73,'86,'99,2012.The highs were '81,'91,2001,and 2011 conjuncting the 2011 high of gold.
President Dwight D. Eisenhower supported the creation of a counter-revolutionary alternative south of the seventeenth parallel. The United States supported this effort at nation-building through a series of multilateral agreements that created the Southeast Asia Treaty Organization (SEATO).
This started a long 18 year war by sending advisors in 1957 to Vietnam until 1975 ,as Bush has started the war cycle ,after the 9/11, the campaign in 2001 to do some nation building in the Middle East.
Expecting the next president of 2008 will institute the draft in 2009 as Johnson did with his presidency in 1965.
The parallel is eerie.
These are the broad strokes ,hopeful it will not come to this.


How in the world did you predict this so far in advance??

Your predictions are materializing. Very scary stuff!

lunar 16.01.2009 15:49

:rolleyes :rolleyes

lunar 16.01.2009 17:04

$1.2 Trillion Slush Fund: Congressman Alan Grayson Grills Fed Vice Chair Donald Kohn


lunar 16.01.2009 17:49

China Central Bank Attacks Paulson’s ‘Gangster Logic’ :rolleyes

By Li Yanping

Jan. 16 (Bloomberg) -- A Chinese central bank official attacked reported comments by U.S. Treasury Secretary Henry Paulson that China’s high savings rate helped trigger the global credit crisis.

“This view is extremely ridiculous and irresponsible and it’s ‘gangster logic,’” Zhang Jianhua, the bank’s research head, said. His comments were in an interview with the state-run Xinhua News Agency, posted on a government Web site today.

Commentaries by China’s state media this month had already accused Paulson and Federal Reserve Chairman Ben S. Bernanke of playing a “blame game” over the cause of the crisis.

Friction between the two nations includes a U.S. complaint to the World Trade Organization last month that China uses prohibited subsidies to boost exports. The U.S. also regards China’s currency, the yuan, as undervalued and a factor in global trade imbalances.

Massive savings accumulations in countries such as China helped to trigger the crisis by squeezing interest rates and pushing investors toward riskier assets, the Financial Times reported Jan. 2, quoting Paulson....

full story:

:schwitz er sagt's aber :o

---> Eastside, Westside Posted by alyx under hank paulson

lunar 16.01.2009 18:39

FGC - its just an optical illusion.

-> Posted by WANKA @ 9:21 am on January 16, 2009

lunar 16.01.2009 18:45

16 January 2009

Where is Bernie's Trade Book? Who Were His Partners?

FINRA has found no evidence of trades by Bernie Madoff on behalf of his private investment fund through Bernard L. Madoff Investment Securities, a commercial brokerage founded in 1960.

This appears to be a brick in the wall of 'rogue trader' status. He could do it himself because he made no trades at all.

However this was not Bernie's only commercial operation in the securities business, in addition to his now nefarious private fund.

Primex was registered as Primex Holdings, L.L.C. in NYS in October of 1998. Primex is a joint venture involving a digital trading auction which operates out of Bernie's 18th floor office at 885 Third Ave.

Madoff's business partners in the Primex Exchange were Citigroup, Morgan Stanley, Goldman Sachs, and Merrill Lynch.

Did Bernie give any business to this joint venture? Did any of the above brokers have any investments or losses with the Madoff Fund? If not why not? It was one of the most successful funds, on paper, on the Street?

More questions than answers. Let's hope this one does not disappear down a black hole
like the enormous put option positions placed on the airline stocks just prior to 9/11.

Madoff's fund may not have made a single trade

By Jason Szep
Fri Jan 16, 2009 6:55am EST

BOSTON (Reuters) - Bernie Madoff's investment fund may never have executed a single trade, industry officials say, suggesting detailed statements mailed to investors each month may have been an elaborate mirage in a $50 billion fraud.

An industry-run regulator for brokerage firms said on Thursday there was no record of Madoff's investment fund placing trades through his brokerage operation.....
full story: http://jessescrossroadscafe.blogspo...k-who-were.html

lunar 16.01.2009 18:55

Fox News: House Minority Leader Boehner on The Democrat Stimulus Plan "Oh My God"

lunar 16.01.2009 23:32

Jan 16
Another Quasi-Nationalization, House Debuts Obama Stimulus, Russian Resource War Approaches, Prices Fall and More!

Filed Under Today's 5 Minutes | Leave a Comment

by Addison Wiggin & Ian Mathias

  • Congress unleashes remainder of TARP… another $350 billion into the void
  • Treasury wastes no time… Bank of America quasi-nationalized
  • Dan Denning on the real issue plaguing American financials
  • Obama’s fiscal tenure off to terrific start… $825 billion stimulus bill, most expensive Inauguration ever
  • Russia-Ukraine conflict far from over… EU gets testy, starts issuing ultimatums
  • Plus, the bright side of the data: inflation at historic low, consumer sentiment improves
Let’s see, yesterday a mob of 10,000 gathered at the capital.
They came to protest their corrupt and incompetent government: Growth was once robust, but is now stagnant at best. Salaries are falling, unemployment rising. Poverty is commonplace, the education system is worthless, and the divide between rich and poor is overwhelming.
The central bank is doing nothing but squandering the people’s money, which is rapidly losing value. The mob turned angry… the government turned its military against its own people.

Latvia yesterday.
In Washington today… since the first half worked so well… Congress agreed late yesterday to release the remaining $350 billion of TARP funds. For all the hemming and hawing on how “It’ll be different this time,” the rest of the bailout went straight to the Treasury, with no new stipulations or guidelines.
Barney Frank drafted a bill to add all sorts of new rules to TARP spending. But before the bill could even be debated, Hank Paulson had already signed a $20 billion check:
Bank of America received another $20 billion government stimulus last night , the latest chapter of a book that’s so sad, it’s almost funny.
When BoA acquired Merrill Lynch back in September, the world marveled at CEO Ken Lewis — what a smart man, to be able to assess the value of a company like Merrill in a weekend. And what a brave fellow, too… buying Countrywide and Merrill in less than 12 months.
Today we learned Lewis has been pleading with Uncle Sam all week. How could they know that Merrill would be taking a $15 billion fourth-quarter write-down? Sure, BoA has $393 billion in deposits alone, and has already received $25 billion in bailout bucks… but it’s not enough. Who could have foreseen that?
In exchange for the bailout, the government will acquire $4 billion in preferred stock, making it the largest BoA shareholder, at 6% ownership. The other $16 billion? Shhhh… just lie down and relax. You’ll forget about it in no time. Uncle Sam will also provide an additional $98 billion backstop for the bank… essentially nationalizing any further losses.
Bank of America stock justly plunged 18% on the news. Shares go for $8.32 today, the lowest since 1991.
“The main issue,” says Dan Denning, “is the one Ben Bernanke brought up earlier this week in London. The TARP money disappeared onto bank balance sheets and did not reappear as consumer or business lending. Nor could it. The money merely papered over the losses taken by banks and brokers and allowed them (for a time) to maintain adequate capital against the falling value of their assets.
“Those assets, however, are still falling. Remember what Bernanke said… the number of hard-to-value assets on bank balance sheets, ‘significantly increases uncertainty about the underlying value of these institutions.’ But about the only way to increase certainty is to find a real value — which is likely (at least according to market prices) to be so low that it would either wipe out existing equity capital at major institutions or require wholesale bailouts or nationalization of key firms.
“Exactly which assets have increased in value this year on bank loan books? Residential real estate, commercial real estate and virtually any kind of securitized or collateralized loan book is probably worth less now than it was this time last year. You begin to wonder how much, er, ‘capital’ it will take from the government to make up for the loan losses faced by the financial industry this year, if it is even possible.”
Not moments after Bank of America’s quasi-nationalization, the Irish government announced a total takeover of Anglo Irish Bank. Ireland’s government has now seized its three largest lenders.
And Citigroup will complete our trifecta of wretched banking news this morning… the mega bank revealed a $8 billion fourth-quarter net loss today, which the bank says will force it to split in two. Citigroup will now become Citicorp and Citi Holdings — Corp the stable bank and lender, Holdings the bastard son… brokerage, asset management and “special assets.”
If you’re keeping score at home, that’s Citi’s the fifth consecutive quarterly loss. For all of 2008, the “bank” lost $18.7 billion.
“The issue posed by the present crisis is crystal clear,” opined former Federal Reserve chairman Paul Volcker yesterday. "We [must] restore strong, competitive, innovative financial markets to support global economic growth without once again risking a breakdown in market functioning so severe as to put the world economies at risk."
Volcker, who now leads Obama’s economic recovery board — The Group of 30 — called for a new regulatory system — one free from politics that pays particular attention to nonbank financials and new or unsupervised financial instruments.......

lunar 17.01.2009 12:40

16 January 2009

Weekend Viewing: The White House Coup of 1933 - BBC4

This is an interesting topic for us, not because we believe in a plot by the wealthy and powerful Americans to throw in their lot with the more pro-business Hitler and Mussolini, but because it helps to portray the early days of the Great Depression in a more realistic light.

They were not a time of dignified suffering and widespread acts of kindness and compassion on the whole. They were often mean-spirited, violent, fraught with scams and snares for the weak, a particularly dangerous time in America. Those who had become wealthy in the Roaring 20's and in the Crash of 1929 were determined to maintain and increase every advantage they could obtain. Demagogues from all aspects of the political spectrum, left and right, were at work.

This was a difficult period in our history, poorly understood and insufficiently studied in our schools even now. Here is one aspect of it of which you may never have heard. There is no smoking gun in this program. BBC4 does a reasonably even handed job of presenting facts, and surmise, and differentiating them.

We are using this copy of the audio presentation from YouTube although we do not care for the many 'editorial additions' of the person who created it. The original audio only recording of the program is still available from BBC4 but in RealPlayer format, which is no longer as widely accepted as it once had been. Therefore we use the Youtube format.
The Whitehouse Coup (1933) 1 of 3 - 2 of 3 - 3 of 3

Videos und mehr --->

Additional Reading:

The Business Plot of 1933 - Wikipedia

Smedley Butler - Wikipedia

American Liberty League - Wikipedia

Posted by Jesse at 1:58 PM

lunar 17.01.2009 13:17



lunar 17.01.2009 19:58


Die kleinen Helden vom Hudson

Seit er seinen Airbus mit 155 Insassen sicher auf dem Wasser aufsetzte, wird Chesley Sullenberger als großer Held gefeiert. Doch in den Minuten nach der Notwasserung erwiesen sich noch andere Menschen an Bord als Helden - oder als Egoisten. Passagiere berichten. mehr... [ Forum ]

lunar 17.01.2009 20:58

Krieg in Gaza
Panische Verzweiflung in Israels TV

Tel Aviv. So unmittelbar ist Israels Fernsehpublikum bislang noch nie mit dem Leid der palästinensischen Zivilisten konfrontiert worden. Als der Moderator des privaten Channel 10 am Freitagabend, ähnlich wie schon in den Tagen zuvor, den palästinensischen Gynäkologen Issaldin Abu al-Aisch anrief, war dieser in panischer Verzweiflung.

"Meine Mädchen, oh Gott, sie haben meine Mädchen getötet", schrie er gepeinigt in sein Mobiltelefon, mitten in der Live-Schaltung zur besten Sendezeit. "Warum, warum nur?" wiederholte er immer wieder.

Doktor Al-Aisch praktiziert sowohl im Krankenhaus von Gaza als auch in der Tel-Haschomer-Klinik nahe dem israelischen Tel Aviv. Er spricht fließend Hebräisch. Channel 10 schätzt ihn als Interviewpartner, weil er als zugeschalteter Gast der Abendnachrichten stets in sachlicher Weise über das Kriegsgeschehen zu berichten vermochte, wie er es in seinem Dorf Beit Lahia im nördlichen Gazastreifen beobachtete.

Doch als ihn der Channel-10-Moderator Schlomi Eldar am Freitag anrief, war das Haus des palästinensischen Arztes gerade von einer israelischen Granate getroffen worden. Drei seiner Töchter starben bei dem Angriff, zwei weitere seiner acht Kinder waren wie er selbst verletzt. Auch ein Bruder und zwei Neffen kamen ums Leben. Verzweifelt versuchte Al-Aisch, seine blutenden Kinder über den nahen, aber geschlossenen Grenzübergang Erez nach Israel zu bringen.

Moderator Eldar begriff sofort die Situation. "Ich hoffe, dass jeder, der uns hören kann, das Militär, das Rote Kreuz, diesen Menschen hilft", rief er emotional in der laufenden Sendung.

Dank der Intervention des Senders konnte der Arzt schließlich mit den verletzten Kindern den Grenzübergang passieren. Eldar rief auch einen Sprecher des israelischen Militärs an, um herauszufinden, warum das Haus des Arztes beschossen worden war. Militante hätten von dort Raketen abgefeuert, lautete die Antwort. Al-Aisch, der immer noch zugeschaltet war, war fassungslos. "Diese kleinen Mädchen feuerten Lachen und Liebe und Frieden ab, sonst gar nichts", sagte er.

Lesen Sie auch
Interview mit Aviv Geffen: "Ich bin das neue Israel"

Krieg in Gaza: Hoffnung auf Waffenstillstand

Kassel: Demonstranten greifen Israel-Stand an

Bombardements im Gaza-Streifen: Tausende protestieren in Deutschland

Israels Verteidigungsminister Barak: Militäroffensive "nah am Ziel"

Israeli TV airs Gaza doctor's pleas after children killed - ENGLISH SUBTITLES

lunar 17.01.2009 21:17

by James Quinn
January 16, 2009
war is peace
freedom is slavery
ignorance is strength

“All political thinking for years past has been vitiated in the same way. People can foresee the future only when it coincides with their own wishes, and the most grossly obvious facts can be ignored when they are unwelcome. Political language... is designed to make lies sound truthful and murder respectable, and to give an appearance of solidity to pure wind.” George Orwell

...........The Government now spends $2.9 trillion per year, or 20% of GDP. With the proposed stimulus, government spending could breach 30% of GDP. In 1929, Government spending accounted for only 9% of GDP. In 2000, when President Bush ascended to power, spending on National Defense was 3.8% of GDP. Today it is 4.8%, having risen by 79% since 2000. In 1940, prior to WW II, National Defense accounted for 2.5% of GDP.


Source: Source: CBO

By 2011, 30% of all the spending in our country will be done by BIG GOVERNMENT. When the costs of Homeland Security, veteran’s benefits, interest on the debt related to military spending, spending on NASA and nuclear arms are included, National Defense accounts for 54% of Government spending. The Military Industrial Complex is calling the shots when it comes to how government operates. A question everyone needs to ask themselves:

Is it worth the loss of liberties and rights to allow the government to control and protect you?

Control of Information and History

Who controls the past controls the future. Who controls the present controls the past......

© 2009 James Quinn
Editorial Archives

full long story:

lunar 17.01.2009 21:26 leider schon wieder endlos lang :schwitz


Posted in money matters by emsnews on January 15th, 2009

While mucking around the Federal Reserve’s online archives, I stumbled upon this interesting report after putting in random dates and random,
interesting words. Like ’secret’. This report from 1961 popped up. Many
people say many things about the history of gold and the Federal
Reserve but many of these statements are not backed up by hard
information. We know that the Presidents of the United States, ever
since 1914, have had a queer relationship with the Federal Reserve and
both entities have manipulated our currency and gold, outrageously, in
the past.

The goal, of course, is to increase and enable global trade and to make allies stronger.
The worry is, degrading the dollar, draining Fort Knox of all
its gold and having recessions in America that might anger the voters.
The document here is secret because it is discussing how the Treasury
and the Federal Reserve can secretly manipulate currency relative
values vis a vis the dollar and how to use our gold reserves to
basically, increase inflation and the speed which money moves through
the systems.


U. S. Foreign Exchange Operations: Needs and Methods


lunar 17.01.2009 21:46

17. Januar 2009, 21:17, NZZ Online

Obama im Triumph-Zug zur Amtseinführung

Symbolträchtige Bahnfahrt von Philadelphia nach Washington

Für Barack Obama haben die Marathon-Feiern zu seiner Amtseinführung am 20. Januar begonnen: Wie einst Abraham Lincoln 1861 brach er am Samstag mit dem Zug von Philadelphia - der Wiege der amerikanischen Demokratie - nach Washington auf.

(ap) Auf der 217 Kilometer langen Reise waren zahlreiche Stopps geplant, damit möglichst viele an den Feiern teilhaben können. Die Ankunft in Washington wurde für den Abend (Ortszeit) erwartet. Entlang der Fahrtroute hatten sich zigtausende Menschen eingefunden, um den künftigen Präsidenten zu sehen. Obama winkte den jubelnden Menschen von der Plattform seines Waggons aus zu. Die Zugplattform war mit der amerikanischen Flagge geschmückt. Die Menschen führten zum Teil Transparente mit, auf denen sie Obama grüssten.....

ganzer Artikel:

lunar 17.01.2009 21:54

From Times Online

January 17, 2009

Strikes on Gaza continue ahead of imminent ceasefire

Kevin Dowling

div#related-article-links p a, div#related-article-links p a:visited { color:#06c; } Israel bombarded Gaza with 50 airstrikes overnight ahead of a proposed unilateral ceasefire, which could be approved by the Jewish state tonight.

Two children were killed in northern Gaza when the UN school they were sheltering in with 1,600 other people was struck by Israeli shelling......

full story:

...noch kurz vor Feuereinstellung ein paar Kinder umbringen :cry:gomad

lunar 17.01.2009 23:02


lunar 18.01.2009 13:25

17 January 2009

The Plot to Overthrow FDR - The History Channel

The beginnings of the Great Depression, and the conflicts that tested the Republic to its foundations, and the commitment to freedom around the world.

Video Documentary The History Channel

The Plot to Overthrow FDR

The American Liberty League

Responses to the Great Depression 1929-1939

Posted by Jesse at 1:00 PM :verbeug

lunar 19.01.2009 09:07

18 January 2009

West Texas Intermediate Benchmark Diverging Widely from World Oil Prices

If there indeed is a glut of oil in the US at a bottleneck, as NYMEX appears to contend, then world prices should diverge, and more oil would be flowing to other venues.

Interestingly enough, there is also a huge difference in price between the February contract at 36.51 for WTI and the March contract at 42.57.

So let's see how this short term oil glut in Oklahoma gets squared away. Sure to be interesting. It would be a shame if the NYMEX loses some of its credibility as a price discovery mechanism.

Signs of shift away from WTI
By Javier Blas in London
January 18 2009

Oil traders are quietly pricing some of their deals away from the West Texas Intermediate contract, traditionally the world’s most important oil benchmark, as it is being distorted by record inventories at its landlocked delivery point.

The move is a setback for the benchmark that since the launch of the Nymex WTI futures in the early 1980s has dominated physical and financial oil markets.

The surge in oil inventories in Cushing, Oklahoma, where WTI is delivered into America’s pipeline system, has depressed its value not only against other global benchmarks, such as Brent, but also against other domestic US crudes.......


lunar 19.01.2009 09:10

Royal Bank of Scotland to Report $37 Billion in Losses and Goodwill Writedowns

RBS to unveil up to $37 billion of losses

By Adrian Croft

LONDON (Reuters) - Royal Bank of Scotland will unveil up to 25 billion pounds ($37.30 billion) of losses for 2008 on Monday due to bad debts and writing off goodwill on its acquisition of ABN AMRO, a British newspaper said on Monday.

RBS will say it incurred about 7 billion pounds of losses in 2008 and that it is taking a goodwill writedown of between 15 billion and 20 billion pounds, The Daily Telegraph reported, calling it the "biggest loss in UK history."

RBS declined to comment on the report.

Britain is set to throw its banks another multi-billion pound lifeline on Monday by allowing them to insure against steep losses and guaranteeing their debt to stop the credit crunch pushing the economy into a deep slump.......

full story: http://jessescrossroadscafe.blogspo...-report-37.html

....scheint eine never ending banking story zu sein :rolleyes

lunar 19.01.2009 09:26

Cadillac One: The Car That Thinks It’s A Tank

-> Posted by prezone @ 23:03 pm on January 18, 2009

lunar 19.01.2009 09:34 zwar nicht taufrisch - und doch sehr aktuell

Reform plan raises fears of Bank secrecy

The Bank of England will be able to print extra money without having legally to declare it under new plans which will heighten fears that the Government will secretly pump extra cash into the economy.

By Edmund Conway, Economics Editor
Last Updated: 7:01AM GMT 12 Jan 2009

The Government is set to throw out the 165-year old law that obliges the Bank to publish a weekly account of its balance sheet – a move that will allow it theoretically to embark covertly on so-called quantitative easing. The Banking Bill, which is currently passing through Parliament, abolishes a key section of the law laid down by Robert Peel's Government in 1844 which originally granted the Bank the sole right to print UK money.

The ostensible reason for the reform, which means the Bank will not have to print details of its own accounts and the amount of notes and coins flowing through the UK economy, is to allow the Bank more power to overhaul troubled financial institutions in the future, under its Special Resolution Authority.

However, some have warned that it means: "there is nothing to stop an unreported and unmonitored flooding of the money market by the undisciplined use of the printing presses.".....

full story:

lunar 19.01.2009 09:43


Jim Rogers Latest Interview

This is Jim Rogers`s latest interview. Jim talks about inflation, deflation in some raw materials and property prices, sugar prices, commodities, british pound, us dollar, China to stop buying US Bonds, water treatment stocks, china stock market and travelling.

Do you think the period of forced liquidation has ended or does it still have a ways to go?

Rogers: I’m sure it has not ended. It certainly has not ended for many asset classes and it probably has not ended for most. It may be over for a few things but it still has a long way to go.

As you’ve said many times, the US government is printing a lot of money right now, when do you think inflation will come around and bite us?

Rogers: Well there is inflation now in many things. There’s temporary deflation in raw material prices and in some property. But throughout history, whenever you’ve had gigantic printing of money and spending of borrowed money, it has always led to higher prices. Unless something is dramatic, it’s going to happen again. When? I don’t know. It’s already happening in some things. I don’t know if you’ve bought any sugar recently or some other things, prices are up and that will continue and it will get worse.

You’ve been bullish on commodities for a long time, recently you said you’re buying the Rogers Metal Index. Do you think that the Obama stimulus plan will create more demand for commodities?

Rogers: Well of course, anything that causes a revival of economic activity causes a revival of demand for everything including commodities. I mean if you’re gonna build bridges you’ve got to build them out of something you cannot build virtual bridges you have to build real bridges, etc.

You’ve said that over the long term, the US dollar is doomed. What are your thoughts on the British Pound?

Rogers: More doomed. It will disappear sooner. If it weren’t for the North Sea, the British Pound would have already disappeared. It’s more doomed. The UK has been exporting oil for 26 years; within the decade, the UK will be a net importer of oil again, and they have nothing else to sell to the world once the oil dries up.

Do you think China will scale back on buying US bonds? And if that happens, how will it affect the US economy and the US dollar?

Rogers: Well if I were China, I would scale back. If I were everybody, I would scale back. The US bonds yield virtually nothing, the dollar is a flawed currency, inflation is coming, higher interest rates are coming. I would think everybody would be scaling back including China. We’re going to have higher interest rates down the road because somebody’s gonna scale back. If not China, Japan or Korea, or who knows, somebody.

You’ve been buying Chinese stocks for many years already, now that China’s economy is doing badly and exports are decreasing significantly, what sectors are you looking at in China?

Rogers: Agriculture, water treatment, people who build power generation, people who build infrastructure, tourism. Many areas of the Chinese economy will continue to do well no matter what happens to the world economy. Many will suffer; anybody who sells to Wal-mart or retailers in America is going to suffer, others will do extremely well no matter what.

My last question, on a personal note, do you miss traveling around the world for fun like you’ve done several times before?

Rogers: No, because now I have two little girls and they’re more fun than anything. I hope someday that I will travel around the world with them for fun. But at the moment, watching them grow up and helping them grow up is more fun than anything I can imagine. :supi

Posted by unknown at 2:48 AM 0 comments
Labels: china, jim rogers, jim rogers blog, jim rogers commodities, jim rogers interview

lunar 19.01.2009 09:50

Italian designers go from riches to rags...

na ja - bei diesen Börsen :o

lunar 19.01.2009 12:22

19. Januar 2009, Neue Zürcher Zeitung

Farbanschlag gegen UBS-Gebäude am Paradeplatz

Zwei Jugendliche festgenommen

bai. Rund 30 unbekannte Personen haben am Samstag kurz vor 21 Uhr 30 einen Farbanschlag auf die UBS am Paradeplatz in der Zürcher Innenstadt verübt. Sie warfen mit roter sowie grüner Farbe gefüllte Beutel und Flaschen gegen die Fassade des Bankgebäudes, das an der Kreuzung von Talacker und Bleicherweg gelegen ist. Die Fassaden wurden dadurch erheblich beschädigt, wie die Stadtpolizei mitteilte. Zwei Personen wurden vorübergehend festgenommen. Es handelt sich um einen 15- und einen 16-jährigen Schweizer, wie eine Sprecherin der Stadtpolizei am Sonntag auf Anfrage ausführte. Die beiden Jugendlichen wurden der Jugendanwaltschaft Zürich zugeführt......

ganzer Artikel:

lunar 19.01.2009 12:28

Zitat von krisskross

Madoff II? Der Hedgefonds-Branche droht ein neuer Skandal

Kategorie: US-Markt News | Hedgefonds-News | Top-Artikel | Uhrzeit: 11:23

Wie die Financial Times Deutschland (FTD) berichtet droht der Hedge-Fonds-Branche nach Madoff der nächste Skandal. Denn Arthur G. Nadel, der 350 Mio. $ verwaltet, ist seit Tagen spurlos verschwunden.

Der 76-jährige gilt in Sarasota im US-Bundesstaat Florida als ein wichtiger Philanthrop. Der Manager der Hedge-Fonds Viking, Valhalla und Scoop verwaltet mehr als 350 Mio. $. Im November erzielte er für seine Anleger eine Rendite von stolzen acht Prozent. Und das in einem Monat, in dem der S&P 500 mehr als sieben Prozent verlor.

Wie die FTD nun aber berichtet, könnte dies alles nur Schall und Rauch sein. Nadel ist verschwunden. Seine Frau Peg habe eine Vermisstenanzeige bei der Polizei aufgegeben, als sie auf dem Schreibtisch ihres Mannes einen Abschiedsbrief fand. "Ausgelaugt" habe er darin geklungen, sagte Chuck Lesaltato, Polizeibeamter im Sarasato County Sheriff's Office der Lokalzeitung "Herald Tribune".

Viking-Manager Neil Moody hat der Zeitung berichtet, dass das gesamte Kapital weg sei: "Wir haben eine extrem ernste Situation festgestellt. Es könnte sein, dass die Fonds nahezu wertlos sind", teilte Moody den Investoren in einem Schreiben mit.

Die Ähnlichkeiten zum Fall Bernard Madoff sind frappierend. Der ehemalige Vorstandschef der Technologiebörse Nasdaq hatte seine Anleger durch ein Schneeballsystem um 50 Mrd. $ geprellt, darunter auch deutsche Kunden.

Die Hedgefondsbranche, die hohe Mitteabflüsse im Zuge der Kreditkrise erleidet, schlittert von einer Imagekrise in die nächste. Erst hatte der vorgetäuschte Selbstmord von Samuel Israel für Aufsehen gesorgt. Israel hatte sich im September 2005 schuldig bekannt, Anleger betrogen zu haben.

Als Israel seine Haftstrafe im Juni antreten sollte, flüchtete er und täuschte Selbstmord vor: Eine Polizeistreife fand an einer Brücke nördlich von New York einen auf Israel zugelassenen Wagen. Auf der Motorhaube stand "suicide is painless" - "Selbstmord ist schmerzlos".

merci :)
:gruebel alte gesetzte Männer auf solchen Abwegen :rolleyes:eek

lunar 19.01.2009 15:47


Mysteriöse Lichterscheinung verunsichert Norddeutsche

Ein greller Lichtblitz, dann ein Knall: In Norddeutschland wurde der Himmel am Samstagabend taghell erleuchtet - wohl von einem Meteoriten. Einige Sekunden dauerte das seltsame Schauspiel, das auch in Dänemark und Schweden zu sehen war. mehr... [ Video ]

lunar 19.01.2009 15:52


Frauen haben mit reichen Männern häufiger Orgasmen

Welchen biologischen Nutzen hat der weibliche Orgasmus? Britische Forscher erklären ihn als Phänomen der Evolution: Das Erreichen des Höhepunkts ist demnach für Frauen ein Indiz dafür, einen guten Partner gefunden zu haben. mehr...

:gruebel ...das könnte die Börse sich mal zu Herzen nehmen - wäre für uns alle zum Vorteil ;):cool:o

lunar 19.01.2009 15:56

Obama visits with troops, honors King on holiday

AP - 15 minutes ago WASHINGTON - With history intersecting the transfer of power, large crowds thronged to the capital Monday, on the eve of Barack Obama's elevation to the presidency as America honored slain civil rights leader Martin Luther King Jr.

lunar 19.01.2009 16:12


Ins Reich der Finsternis

Seit Wochen harren Journalisten an der Grenze zum Gaza-Streifen aus. Der Weg in die Krisenzone war lange versperrt. Jetzt dürfen die Ersten passieren - Volkhard Windfuhr und Bernhard Zand haben es geschafft. mehr... [ Video | Forum ]

lunar 19.01.2009 16:55

Growing stocks of unsold cars around the world (10 pictures)

lunar 19.01.2009 17:04

We Are One: the Obama party at the Lincoln Memorial (25 pictures)

lunar 19.01.2009 17:33

1 Anhang/Anhänge
Darkstar :thanx

18.01.2009 17:58

Die Sonne schwächelt

Die Sonnenaktivität sollte eigentlich schon seit vielen Monaten wieder einen Aufwärtstrend zeigen, denn üblicherweise beträgt die Länge eines Zyklus um 11 Jahre und das letzte Sonnenfleckenminimum fand bereits im September 1996 statt. Von neuer Aktivität ist aber bislang wenig zu sehen. Meist zeigt sich das Zentralgestirn fleckenlos – in den letzten beiden Jahren ein fast schon gewohntes Bild. Die wenigen Flecken, die in den zurückliegenden Monaten für jeweils einige Tage erschienen, gehörten aber bereits zum neuen Sonnenfleckenzyklus, erkenntlich an ihrer Position in höheren Breitengraden und an ihrer magnetischen Ausrichtung....

ganzer Artikel:

lunar 19.01.2009 18:39

1 Anhang/Anhänge

....wie ein gestrandeter Walfisch

lunar 19.01.2009 22:01


Washington Mobilizes 42,500-Strong Security Force...

lunar 19.01.2009 22:06

19 January 2009

Murkiness in the NYMEX Pits As the Banks Hoard Oil
"Morgan Stanley hired an oil tanker to store crude oil in the Gulf of Mexico, joining Citigroup Inc. and Royal Dutch Shell Plc in trying to profit from the contango, two shipbrokers said in reports earlier today."
There is a sharp contango in the near months in the NYMEX oil pit, and it will get sharper as the attempts to suppress the price near term, most likely to punish Russia, Venezuela and Iran, falter. Then it will flatten as market adjusts prices to normalcy.

Let's see if Bloomberg gives us a more coherent update. But its funny that Citigroup, Morgan Stanley, and probably other banks are buying oil now to store in tankers and deliver later when the paper chase falters. Nice use of the bailout money. Why lend when you can speculate on market inefficiency which you help to create?

Goldman Sees ‘Swift, Violent’ Oil Rally Later in Year
By Grant Smith

Jan. 19 (Bloomberg) -- Goldman Sachs Group Inc. commodity analyst Jeffrey Currie said he expects a “swift and violent rebound” in energy prices in the second half of the year.

Oil prices may have reached their lowest point already, after falling to $32.40 in mid-December, and are expected to rise to $65 by the end of this year, the analyst said. There is scope for a “new bull market” in oil, Currie said. (The December '09 futures are trading around there already - Jesse)

World oil demand is likely to fall by about 1.6 million barrels a day this year, the Goldman analyst said today at a conference in London. That’s bigger than the reduction expected by the International Energy Agency, which last week forecast a decrease of about 500,000 barrels a day, or 0.6 percent, this year.

A recent tactic of using supertankers to store crude oil to take advantage of higher prices later this year is “difficult” to profit from and is “near the end of this process” anyway, the Goldman analyst said. (We can only use the NYMEX 'front month' to punish Iran, Venezuela, and Russia for so long - Jesse)

New York crude futures for delivery in December, trading near $56 a barrel, currently cost some $15 a barrel more than March futures, a market situation known as contango, where prices are higher for later delivery. (This is poorly worded at best - Jesse) The contango is likely to flatten as supply cuts by OPEC and other producers take effect, reducing the availability of oil for immediate delivery, Currie said. (Contango is when the future months are higher in price. This is the case for the futures. But December delivery, according to this article, is in backwardation, where true 'spot' is higher than paper prices, and a sure sign of price manipulation. - Jesse)

The Organization of Petroleum Exporting Countries started another round of supply cutbacks at the start of this month. The group’s compliance with its overall efforts to cut production will probably peak at 75 percent, or a reduction of about 3 million barrels a day out of an announced aim of 4.2 million barrels a day, Goldman Sachs said.

In several steps, 10 OPEC members have pledged to reduce production to 24.845 million barrels a day, a cut of 4.2 million barrels a day from September’s level.

Morgan Stanley hired an oil tanker to store crude oil in the Gulf of Mexico, joining Citigroup Inc. and Royal Dutch Shell Plc in trying to profit from the contango, two shipbrokers said in reports earlier today.

Posted by Jesse at 11:11 AM :verbeug

Pack wie immer :mad

lunar 20.01.2009 09:10

Zitat von zaungast

moin cherry,

was ich immer weniger verstehe :

Wir haben ein dichtes funktionierendes Netz kleiner
Regionalbanken, warum müssen wir dann eine ganze Volkswirtschaft
ruinieren, um ein paar dämliche Hasardeure bei den Grossbanken
aus dem Sumpf zu ziehen - bei angemessenen Zuwendungen
selbstredend ...

Wäre es nicht gescheiter, diese Regionalbanken so zu stärken, dass
sie einen Teil der Kreditvergabe, die sonst über die Grossbanken
lief, übernehmen könnten ?

Letztendlich gibt's doch keine Ruhe, ehe nicht alle Grossbanken
irgendwie verstaatlicht sind - mit einer Lex Ackermann natürlich noch
obendrauf, damit der uns seinen Londoner Trümmerhaufen noch
aufdrücken kann ?

Zitat von raetze

der Artikel hier:

geht in die gleiche Richtung...

Die Lösung der Kreditkrise: Kredit, wem Kredit gebührt

Ellen Brown

Von dem Ökonomen John Kenneth Galbraith stammt das geflügelte Wort: »Der Geldschöpfungsprozess der Banken ist so simpel, dass der menschliche Geist davor zurückschreckt«. Wenn Banken Geld schöpfen können, warum leiden wir dann unter einer »Kreditklemme«? Warum können die Banken nicht all das Geld schöpfen, das sie verleihen können? …
Schreiben an eine Bank: »Sehr geehrte Herren, haben Sie, als Sie meinen Scheck mit der Bemerkung ›nicht ausreichende Mittel‹ zurückgesandt haben, an meine oder an Ihre Finanzmittel gedacht?«
Im letzten Herbst hat der US-Kongress die beispiellose Summe von 700 Milliarden Dollar aus Steuergeldern bewilligt, um der Kreditkrise zu begegnen, und inzwischen hat die Federal Reserve diese Summe auf die Höhe von 8,5 Billionen Dollar an Krediten und Garantieleistungen aufgestockt. (1) Doch mittlerweile hat sich herausgestellt, dass diese Finanzspritze für die Banken nur eine einzige Geldverschwendung auf Staatskosten zugunsten einiger Handvoll glücklicher Wall-Street-Banken war, und dass dadurch keineswegs der Kreditfluss wieder in Gang gekommen ist.

Um die wirkliche Ursache der Kreditkrise und deren Lösung verstehen zu können, müssen wir zuallererst die Natur des Kredits begreifen – was Kredit ist, wie er historisch entstanden ist und welche Klemme tatsächlich seinen Fluss weitgehend unterbrochen hat. In der Tat wird der Kredit von Banken geschöpft, d.h. erzeugt; und wenn Privatbanken das tun können, dann könnten das ebenso gut auch öffentliche Banken oder Finanzministerien tun. Bei der gegenwärtigen Kreditkrise geht es nicht um mangelnde »Liquidität«, sondern um mangelnde »Solvenz«. Diese Krise ist nicht etwa dadurch entstanden, dass die Banken keinen Zugang zu Krediten hatten (denn Kredite können sie problemlos per Buchungseintrag schöpfen), sondern weil sie die Mindestkapitalanforderungen der Baseler Bank für Internationalen Zahlungsausgleich (BIZ), die als privates ausländisches Oberhaupt des internationalen Bankensystems fungiert, nicht erfüllen konnten. Ursache dieser Unfähigkeit war wiederum der Derivate-Virus, von dem aber nur einige wenige große Banken stark infiziert sind. Indem sie aber diesen Großbanken mit einer Finanzspritze aus der Patsche half, hat die Regierung jedoch tatsächlich diesen Virus weiter verbreitet, da die Großbanken mit den ihnen zur Verfügung gestellten Geldern kleinere Regionalbanken übernommen haben......

......»Bei einer einheitlichen Mindestreserve von zehn Prozent deckt eine Erhöhung der Reserven um einen Dollar eine zusätzliche Erhöhung der Kontokorrentkonten um zehn Dollar ab.« [S. 49]Übersetzung: Die Einlage eines Kunden in Höhe von einem Dollar kann zum Kredit von zehn Dollar aufgefächert werden........

ganzer Artikel:

....sollte man ziemlich genau lesen :schwitz

lunar 20.01.2009 09:18


Israel beschleunigt Truppenabzug

Bis zur Amtseinführung von Barack Obama als US-Präsident soll der Rückzug israelischer Truppen aus dem Gaza-Streifen weitgehend abgeschlossen sein. In der Region wurden mindestens 22.000 Häuser zerstört, die Sachschäden werden auf bis zu zwei Milliarden Dollar geschätzt. mehr... [ Forum ]

Aktuelle Uhrzeit 09:59

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