Important News - Oct. 09
By Daniel at 9 October, 2009, 10:20 am
- 1) Rogers: Dollar Doomed as Reserve Currency
“The dollar’s days as the world’s No. 1 reserve currency will ultimately end, says investment legend Jim Rogers.
U.S. economic woes are the culprit, Rogers told Moneynews.com. The commodities guru is best known for founding and running the Quantum Fund in the early 1970s, piling up a 4,200 percent return over a decade.
“The dollar is a terribly flawed currency” Rogers says.
“Everybody in the world knows that, including the head of the World Bank. . . even though he’s an American citizen.” Rogers was referring to World Bank President Robert Zoellick.”
- 2) Sen Dodd: No blocks to Bernanke reconfirm
“WASHINGTON (Reuters) - Senate Banking Committee Chairman Christopher Dodd told Reuters Television on Thursday he sees no obstacles in the way of the Senate reconfirming Ben Bernanke as Federal Reserve chairman.
Asked in an interview if he saw any roadblocks to the reconfirmation, Dodd said, “No, I don’t think so.”
“I’ve indicated I want to be supportive. I think Ben Bernanke’s done a very good job, particularly in the last year or so. I think that view is embraced by a lot of people,” said Dodd, a Democrat.”
2A) Just a few comments: Maybe Dodd hasn’t seen that Bernanke is always wrong. Maybe Dodd doesn’t care that we don’t know where the money went (over $2 trillion). Maybe Dodd hasn’t seen the chart of what Greenspan and Bernanke have done to our dollar.
Hey, but listen closely and maybe we can hear Senator Dodd sing. That would be Tim Geither backing him up. Gotta love how the lyrics fit.
- 3) Who bought U.S. Government debt? (Charts at CFR website)
- 4) New Monetary base number is out
- 5) 2nd Stimulus plans….more details
A year after Fannie Mae and Freddie Mac teetered, industry executives and Washington policy makers are worrying that another government mortgage giant could be the next housing domino.
Problems at the Federal Housing Administration, which guarantees mortgages with low down payments, are becoming so acute that some experts warn the agency might need a federal bailout.
A US government probe that could lead to anti-dumping levies of nearly 100 percent on imports of Chinese steel pipes could escalate trade disputes between the two countries, industry analysts said yesterday.
Rising trade protectionism, in the name of anti-dumping and countervailing measures, would ultimately derail economic recovery, they said.
The US Commerce Department launched an investigation on Wednesday on whether to impose anti-dumping and countervailing duties on imports of seamless steel pipes from China.
WASHINGTON (MarketWatch) — The number of job openings at U.S. companies declined slightly in August to 2.38 million, the lowest on record dating to 2000, the Labor Department said Friday. With unemployment at 14.9 million, there were a record 6.25 unemployed people for each job opening. Hiring fell to 4.03 million in August, and separations fell to 4.27 million, also the lowest on record, the government said in its monthly job openings and labor turnover summary. Job openings are down 50.4% from the peak of 4.82 million in June 2007.
The Massachusetts House has approved a bill that would give public health officials the power to isolate individuals and set up quarantines to contain the outbreak of serious contagious diseases.
The quarantine order could come in writing or verbally. Those forced into quarantine could appeal to the Superior Court.
Supporters say the emergence of swine flu shows the importance of having laws on the books to deal with public health crises. Critics say the bill gives the government too much power.
Sweden is extending protection to its big banks over fears that fresh financial troubles in Latvia will hit Swedish lenders, which control about half of the Baltic state’s banking industry.
A Latvian government plan to protect homeowners from full repayment on their mortgages drew an angry response from Sweden yesterday as it extended an SEK1.5 trillion credit guarantee to the Swedish banking system.
Two new deals this week show that private equity is awakening after a miserable two-year period. But they also reveal how hard it is to complete a transaction: Far more banks are needed to stitch together far less leverage for transactions that are taking far longer to get done than during the boom.
WASHINGTON — As the federal government propped up the housing market and braced for the collapse of General Motors this spring, Treasury Secretary Timothy Geithner capped a busy week with phone conversations with three men.
The first was Lloyd Blankfein, the CEO at Goldman Sachs Group Inc.
The second was Jamie Dimon, the CEO at JPMorgan Chase & Co.
The third was President Barack Obama.
Dimon and Blankfein are members of an exclusive club: Along with executives at Citigroup Inc., they are among a cadre of Wall Street executives who have known Geithner for years, whose multibillion-dollar companies survived the economic crisis with his help, and who can pick up the phone and reach the nation’s most powerful economic official.
Turkish police today fired tear gas and used water cannon for a second day to break up protests in Istanbul against the International Monetary Fund and World Bank.
Several hundred students and members of Turkish unions and left-wing political parties, carrying banners reading “IMF get out” clashed with riot police a few hundred metres from the IMF-World Bank meetings.
Turkish media said protests by groups of dozens to more than 100 people were taking place across several points in Istanbul.
Youths threw stones at police in Sisli district near the IMF-World Bank convention centre before riot police moved in to break up the protests, pushing them into side streets where they threw petrol bombs at banks and shops.
- 14) This is a sad article to read: American troops in Afghanistan losing heart, say army chaplains
American soldiers serving in Afghanistan are depressed and deeply disillusioned, according to the chaplains of two US battalions that have spent nine months on the front line in the war against the Taleban.
Many feel that they are risking their lives — and that colleagues have died — for a futile mission and an Afghan population that does nothing to help them, the chaplains told The Times in their makeshift chapel on this fortress-like base in a dusty, brown valley southwest of Kabul.
World Sight Day is an annual day of awareness to focus global attention on political blindness, visual impairment and rehabilitation of the visually impaired economists held on the second Thursday in October. This year the focus is on mental health and mislead academics.
Some of today’s anti-bankster articles on Rense.com:
10,000 Apply For 90 Factory Jobs Paying $27K
Whodunit? Sneak Attack On The Dollar
LaRouche - Fed Dollar Policy Tantamount To Treason
Roubini - Housing Market Hasn’t Yet Hit Bottom
Mortgage Rates Stay Below 5 Percent
T Bonds Decline After Disappointing Auction
Mint Cancels 2009 Proof/Uncirc Gold, Silver Eagles
US budget deficit balloons to $1.4 trillion
Questions about Iceland’s banking collapse still remain
Latvia threatens foreign banks with huge losses
Britain’s not bust. So don’t use it as an excuse to impose cuts
Gold hits new record high for third day as funds move in
BoE holds rates, keeps money easing at £175bn
New Monetary Target - The Fed Under Fire
Creditors Feast On Dead Zionist Media Giant
Dow Will Drop To 6300 By Year End - Vid
China Calls End To Dollar Hegemony
Dollar Demise Plotted By Big Oil, China & France
Dollar Tumbles On Report Of Its Death
US Rivals Plot To End Oil Trading In Dollars
300 Hotels Default In California
Gold Prices At Record Levels
Global Markets Rally Too Much, Too Fast
Hedge Funds Make Sugar The New Oil - Prices Soar
BA Announces 1,700 Job Cuts, 2 Yr Pay Freeze
Pelosi Says A New Tax Is On The Table - VAT
Three Govt Reports Point To Fiscal Doomsday
Government Reports Point To Fiscal Doomsday
Stock Market Crash Dead Ahead - Celente, Et Al
Obama-nation:
Bill Ayers - ‘I Wrote Dreams From My Father’
New Doubts About Obama’s Presidency
Obama-nation! Billboard Sports Hammer & Sickle
Military Coup For ‘Obama Problem’ Not ‘Unrealistic’
Andy Williams Accuses Obama Of Marxism
Secret Service Probing Obama ‘Assassination Poll’
Obama’s Hit List - The Globe
Clinton Notes Obama Has Been Accused Of Murder
Supermarket Bloody Vax Campaign Pushes ObamaCare
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