CLibertyC

Federal Reserve Issues a Toothless Report on the Big Banks

"Yesterday, the FED issued a report on the lack of capital — too much leverage — of America’s largest banks. In its evaluation, the Federal Reserve found that firms needed to improve a number of aspects of their capital planning processes, including their accounting for risks most relevant to the specific business activities, their methods of projecting the effect of certain stresses on their capital needs, and their governance of the capital planning processes. The banks 'need to improve on a number of issues'? They do? And if they don’t, what will the FED do about it? It will issue another report." Continue reading →

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Farming Experts Predict Food Safety Laws Will Destroy Local Foods Trend

"The most wonderful aspect of going local with your diet, is the opportunity to meet pioneers of organic, sustainable agriculture. There is tremendous work being done by farmers like Mike Tabor. Yet, a gross lack of understanding by public interest groups on what really constitutes food safety has led to increasing federal control over our food supply. Now, the FDA is dictating farming practices, packaging and sterilization steps that threaten to choke out small producers. Here is what two farmers have to say about these food safety laws and this ominous regulatory trend." Continue reading →

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PBS: Do Innocent Citizens Risk Police Seizure of Their Property?

"Property seizure is a profitable practice for local law enforcement agencies, long used to deprive mobsters and drug kingpins. But the police can also take personal goods away from citizens who haven't been proven guilty of a crime. Ray Suarez talks to Sarah Stillman who investigated civil forfeiture for The New Yorker." Continue reading →

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Consumer demand for gold jumps 53%

"According to WGC there is renewed interest in gold due to its falling prices, which has brought total purchases of gold jewellery, bar and coins to 1,083.2 metric tons. Jewellery demand reached its highest level in 5 years, increasing by 37% to 576 tonnes. Chinese demand was up 54% compared to the same period last year, while India bought 51% more gold ornaments than in 2012. Bar and coin investment surged by a significant 78% across the world and topped 500 tonnes in a quarter for the first time. The WGC statistics come on the heels of India’s recent measures to curb gold purchases because it is the most costly non-essential item that the country imports." Continue reading →

Continue ReadingConsumer demand for gold jumps 53%

Playing The Surge In Precious Metals, II

"The top buys in the PM sector in my view are SAND, ABX, Goldcorp (GG), Yamana Gold (AUY), TAHO, SILJ and SLW. The top performer since the June 26 bottom has been FNV, a gold and energy royalty company with no debt and $900 million cash and equivalents. They can fund distressed miners and then sell their inexpensive gold into a rising market. They have excellent management and are a top pick. and should be strong going forward, as should Eldorado Gold (EGO) which has producing sites in Turkey and China and sites nearing production in Greece and Romania. Like them, SSRI and IAG remain good choices to buy on a dip with limit orders." Continue reading →

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Funds Build Bullish Positions In Precious Metals Futures, Options

"A price rally inspired speculators to build bullish positions in precious metals futures and options traded on the Comex division of New York Mercantile Exchange and the Nymex, confirming many market participants’ expectations that speculators shed short positions when prices rose. The gains in the data released Friday by the Commodity Futures Trading Commission came via a mix of short covering, that is buying back of previously sold positions, and newly added long positions as noted in both the disaggregated and legacy reports. In copper, speculators sheared short positions, and [..] turned net-long for the first time since February." Continue reading →

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Peak Gold

"The resource sector has had a sober awakening, and now we see many companies changing their priorities from expansion to profitability, which depends on many parameters in addition to grade. As for Peak Gold, if that does indeed turn out to be behind us, the big, bulk-tonnage low-grade deposits that are falling out of favor today will become prime assets in the future. It'll either be that or go without. Times may be tough, but the story of the current gold bull cycle isn't done being written. The better companies will survive the downturn and thrive in the next chapter. Identifying these is the ongoing focus of our work." Continue reading →

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Spain’s Central Bank Seeks Minimum Wage Suspension

"Spain's central bank called for a suspension of the minimum wage in selected cases, saying a year-old overhaul of labor laws had made the economy more competitive but failed to encourage hiring. The Bank of Spain's recommendation, though not binding on the conservative government, reflects growing concern among policy makers about the country's 27% unemployment rate. Many economists have called for offering lower wages to younger workers; more than half of the job seekers under age 25 are out of work. Germany's minijobs program pays workers up to €450 per month ($592), far less than Spain's legal minimum of €645." Continue reading →

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Seattle $15/Hour Minimum Wage Being Pushed

"Washington already has the nation's highest state minimum wage at $9.19 an hour. Now, there's a push in Seattle, at least, to make it $15. That would mean fast food workers, retail clerks, baristas and other minimum wage workers would get what protesters demanded when they shut down a handful of city restaurants in May and others called for when they demonstrated nationwide in July. So far, the City Council and mayoral candidates have said they would consider it in the famously liberal city. One said, however, that it may not be soon." Continue reading →

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