Business / Economic / Financial

[ This link to a somewhat more cumulative blog posts page will precede current days news since most all topics remain current in terms of impact and longer-term effect and can be searched by topical index term more easily. The same is provided since the blog site http://alpeiablog.blogspot.com has just been censored as to size by google which is typical for google as nsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on the government to maintain their monopoly. Up to now the better page http://www.scribd.com/alpeia is provided for ease of formatting and clarity thereby while the Washington Post page is the real deal but without formatting http://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia ]

Thrill Ride Thursday: Can the Dollar Drop Fast Enough to Keep the Markets Up? Davis [ The following from Davis is really the key to understanding the scam / fraud which also preceded the ‘financial crisis’ (which continues) and consequent market crash ]: ‘…our market "rally" is ALL about the declining dollar. We are not used to inflation in this country - it hasn’t been much of an issue for the past generation but that’s what we’re seeing here as we are experiencing lower wages, lower demand and flat prices - THAT IS INFLATION or, as we used to say in the 70s - STAGFLATION … In fact, I had been getting bearish because I thought corporate profits weren’t going to be so good this quarter, what with the lack of sales and all, but I was wrong. I was wrong because corporate profits are priced in dollars and dollars are worth 10% less than they were the last time corporations reported. So silly me - all profits are inflated by 10% and that 10% is the E that gets divided from the P and gives us a much better price/multiple to hang our hats on and that gets investors to BUYBUYBUY and, as I said yesterday - they may as well because Lord knows it’s utter foolishness to leave your money in a bank and just watch it lose 2.5% of its buying power EVERY MONTH. Isn’t the declining dollar good for exports? That’s what they keep telling us, isn’t it? Well, it’s not. What do you think - that AAPL is making iPhones in China and then shipping them to Cupertino and then shipping them back to Hong Kong and Tokyo to sell? No, that would be silly. AAPL is a big multi-national corporation that has an office in Cupertino but manufactures almost everything overseas. And why wouldn’t they? Despite a 20% pay raise at FoxConn (and it’s nice to have a 3rd party employ 100,000 workers for you so you can still claim your 34,000 person work-force is mainly American) Apple’s labor cost of producing an iPad only rose from 2.3% to 3% but that’s in Yuan, which have declined 12.5% with the dollar since May so even-Steven for AAPL! Oh yes, exports (sorry, I went off track): So, exports were up just 0.2% as the dollar crashed. Why? Because we don’t make anything here - there’s nothing to export. As Eddy Elfenbein points out in his excellent "24 Statistics about the US Economy that are Almost too Embarrassing to Admit," despite inventing the television in 1927 (Philo Farnsworth for you trivia buffs), NOT ONE (ZERO) of the 211 MILLION televisions sold in the World in 2009 was made in America. In fact, overall manufacturing is down 60% in the past 40 years and the US has lost over 30M factory jobs since Al Gore lost his. Only 12M Americans, not even 10% of our workforce, now work in Manufacturing so EVEN IF a 10% decline in the dollar boosted manufacturing by 10% and EVEN IF making 10% more stuff got US Corporations to hire 10% more staff - that would add just 1.2M workers. That’s not very likely when FoxConn is happy to ramp up with workers who make less money per day than a US worker pays for lunch at a roach coach…’

The Shape of Market Bubbles, Including Gold [ In addition to the frauds on wall street, the fed’s ‘forever blowing bubbles’ … you’ve heard that song before … I’m sure of it! ] (Short Note: On June 23rd technical analyst and CNBC contributor Daryl Guppy made this prediction: Shanghai Index to Fall to 2,300 & 'Rapidly' Rebound. Click the prediction link to read his rationale. In retrospect we see that Guppy's forecast wasn't far off. The index hit its recent low of 2363.95 on July 5th and gained 20.02% as of yesterday's close. A 20% gain in a little over three months definitely qualifies as a rapid rebound.) Short: ‘In my recent reviews of major worlds markets, I included a chart of the amazing bubble in the Shanghai Composite Index. In this post we'll build an overlay of four major bubbles across market history to see the variety of shapes a bubble can take. But first let's take a long view of the index. Incidentally, the index's latest close was 2586.21. So a fall to the area Guppy mentioned is about a 10% correction from this point. [chart] The next chart centers the Shanghai Composite. The peak is the center of a 3000-market day timeline. Markets are open approximately 250 days per year, so this is a snapshot of a little over eight-and-a-half years with plenty of room left to track the future behavior. The dramatic rise took place over about one year with a dramatic collapse of about the same duration. The symmetry of this these two years is astonishing and, as we'll see, not necessarily characteristic of bubbles.[chart] Now we'll add the Nasdaq Tech Bubble. The Nasdaq was a bit less aggressive in the early stages of bubble formation, but the collapses are remarkably similar.[chart] The next chart adds the Dow of the late Roaring Twenties and Crash of 1929. Here we see a more gradual bull market over the first five years with a major acceleration occurring in the 12-13 months prior to the peak. The 1929 Crash took the Dow to the legendary lows that the Nasdaq nearly equaled 70 years later. But the Dow decline lasted a good six months longer before beginning a sustained bear-market rally. [chart] The Nikkei 225 bubble is one I periodically feature in an overlay with the S&P 500, where it looks amazingly steep as the central pattern of a 40+ year timeframe. But in the context of this series, the Nikkei peak on the last market day of 1989 was far more gradual in both the making and unwinding. The first year of the decline, however, was as savage as the other three. [chart] Bubbles happen, and they usually go unrecognized by the majority of market participants until the late stages. The left side of the bubble is usually more gradual than the collapse, although the incredible rise of the Shanghai market is a notable exception. People often use alphabet metaphors for recoveries: V-shaped, W-shaped and L-shaped. It's too soon to characterize the Shanghai Index, but the others most closely resemble an "L" over the timeframe of these charts. Footnote: Is Gold a Bubble? It doesn't appear to be. While the rise somewhat resembles the Nikkei leading up to the 1989 peak, Gold doesn't come anywhere close to the bubble shape of the Nasdaq and Shanghai examples we've reviewed. [chart] Is Gold cheap? No. Can it continue higher from here? Theoretically, yes. In reality, only time will tell. Disclosure: No positions’

This is still an especially great opportunity to sell / take profits! Suckers’ rally into the close to keep suckers suckered (easy for the wall street frauds to do with just a mouse click / push of the button). The unemployment numbers again came in decidedly worse than expected along with other negative data (and in the ‘wrong direction’, that spin accorded ‘down but not as bad as before’ b*** s*** ) yet the market has rallied like no tomorrow with used home foreclosure / distressed sales, though abated owing to ‘foreclosuregate’, the other ‘heralded’ good news. Moreover, the dumbo lemmings of Europe have jumped on the fraudulent defacto bankrupt american crazy train propelled to the precipice also as if no tomorrow. This is about keeping the suckers sucked in with the help of a market-frothing pre-election debased dollar for favorable currency translation and paper (but not real when measured in, ie., gold, etc.) profits which preceded the last crisis, inflating a bubble as in the last crisis to facilitate the churn-and-earn, particularly with computerized (and high frequency) trades and which commissions they’ll get again on the way down. There is nothing to support these overbought stock prices, fundamentally or otherwise. These are desperate criminals ‘at work’. Even wall street shill, the senile Buffett is saying we’re still in a recession (depression). Buffett: We're Still in a Recession [ Wow! A moment of lucidity from senile Buffet which belies his prior ‘rosy wall street shill talk’, but his greater candor is welcomed nonetheless although the ‘d’ (for depression) word is more appropriate and accurate.] Roche ‘Warren Buffett disagrees with the NBER. He says we’re still in a recession and likely to remain in a recession for quite a while. These comments are far more tempered than the ones that were published last week. Of course, my favorite part in this clip is where he says the U.S. government did the right thing in responding to the crisis. They certainly did the right thing for Berkshire Hathaway (BRK.A) shareholders. Whether or not they did the right thing for America is a whole other story…’ [ And, of course we now know that it wasn’t the right thing for america … The question inevitably becomes, ‘Who’s manipulating who, what, and why? After all, we know defacto bankrupt america’s pervasively corrupt! ]

The 'Rubber Band Rule' Proves Pretty Effective TraderMark ‘On Wednesday I noted that the market was approaching levels above the 13-day moving average where it typically corrected from during this rally. There was still a bit of room to the upside (about 0.3%-0.7%) but the rubber band was being pulled quite strongly. Effectively this is a simplistic way to speak of 'mean reversion.' For now the pattern continues.... buying comes in on the pullbacks to the 13 day, and then the market rallies and gets 2-3% above the 13 day, and that is where selling and/or consolidation occurs. It is nothing if not mechanically (silicon) consistent. One time this will be wrong. The pattern is the pattern... until it is not. Then you get havoc, and finally the bulls will get trapped. Of course, you never know which time will be the change. I thought it would have happened by now, but we are not operating under normal quasi-free market rules (rarely have we the past 3 years but now its a level of extreme beyond compare). So historical rule books are not working as well in 2008-2010. (Chart) As of now, S&P 1158 is the 13 day and it should move up tomorrow a few points. At some point QE is priced into the market, and I also have thought it would have happened by now, incorrectly. So each time we have an event like Bernanke talking tomorrow morning, we have to see if the market shrugs it off. There *have* been some divergences the past 24 hours - yesterday I noted the bond market (longer duration) reversing, and today even as the dollar is bludgeoned yet again we are not getting the "buy anything that moves" trade. Are those warnings signs or irrelevant? Obviously in 2 weeks it will be easier to tell you. I can print a litany of warning signs ... 93% of stocks in S&P 500 over 50 day moving average, rampant speculation in (pardon my french) s*** stocks, lack of leadership from former generals (the cloud computing stocks), and now rumors planted by banksters that Yahoo is going to be bought out (congrats to the CEO for $37M pay day for accomplishing no value add for shareholders by the way), or the latest buyout rumor: EMC Computer which is a fine $40B+ company. Surely Oracle will be happy to spit out $50B+ to buy it... after all, it's only money and we're printing more every second. But lots of those signs have been around for a while, and QE has overwhelmed everything. We need to see an event such as the speech tomorrow in which the market does not bid up risk assets on news EVERYONE already knows to mark any serious selling point... combined with a break of this 13 day MA (in my opinion). When the QE2 meme loses its potency, we finally have a change. As an aside, let me keep repeating - so it is not lost in the day to day - this will end badly. Frankly almost every 'solution' of the past 3 years brings with it terrible consequences - because we refuse to take our medicine. We just don't know when "it" happens... all we are doing is repeating the same policies that got us NASDAQ 99 and real estate 2005, and commodities 2007. We are just making the bets bigger and more dangerous, and kicking the can of yarn (which each time it rolls, it grows). I've written many times when we look back in a decade Bernanke will be viewed in the same harsh light as Greenspan... even though "the market" worshiped Greenspan when he was doing those things, just as "the market" worships Bernanke. Look at these PE firms borrowing money to reward themselves as if its 2006 again, look at the hedgies bidding up risk assets with free money, look at the banks cost of capital near zilch (and they still can't get out of their own way). Everyone is getting 'rich' off the risk assets (woo hoo) - why would "the market" not love central bankers like this? Why am I talking like this? I should be celebrating like a good ole Wall Streeter! But as a common American - you should be anywhere from disgusted to fearful of what these people are doing. Just as Greenspan refused to allow a real (cleansing) recession under his watch, and instead created a pressure valve that once blown brought down the entire U.S. financial system - Bernanke is painting the exact same portrait. But like good Romans, we are supposed to enjoy the orgy while it happens and let tomorrow worry about itself - Cramerican style. Just don't lose sight of the long run - the consequences of this 'recovery' are going to be debilitating. My only shock is as we repeat the same Fed induced bubbles now on 5-8 year cycles, no one questions those who bring us these issues repeatedly - instead we give them even more power. Quite amazing really. Disclosure: None’

Economists Herald New Great Depression The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.) , and my position and that of demographer Dent (This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed. Krugman: It's All Downhill From Here Cullen Roche Love him or hate him Paul Krugman has been awfully right with regards to the macro picture in the last few years. He’s one of the rare economists who had the foresight to see the housing bubble and the likelihood of economic downturn that would result from it. Krugman recently caused a stir when he said the US economy was headed for the third depression. He isn’t back down from that outlook:

I’ve had a couple of conversations lately with people who follow politics and public affairs, but aren’t that close to the economic discussion — and I’ve discovered that there are two comforting delusions still out there.

Delusion #1 is that we’re on the road to recovery, just more slowly than we’d like; to be fair, the White House keeps saying this.

But it’s not at all true. GDP is growing below potential; employment, even if you focus just on private employment, is growing more slowly than the working-age population. If you ask how long it will take us to return to, say, 5 percent unemployment on the current track, the answer is forever.

Delusion #2 is the belief that the stimulus may yet do the trick, because there are still substantial funds unspent. I tried to deal with this last year. The level of GDP depends not on total funds spent, but on the rate at which funds are being spent, which has already peaked; GDP growth on the rate of change in the rate at which funds are being spent, which peaked last year. It’s all downhill from here.

If you can ignore the schizophrenic market for just a second it’s hard to reject Krugman’s macro outlook. The private sector has been running on fumes since the debt bubble burst in 2007. The government’s extraordinary actions helped bolster the economy, but merely papered over what was a very weak private sector. As we see the government step aside it’s difficult to imagine that the weakness at the private sector won’t again be exposed for what it really is.
Here Are 13 Signs That We’re Actually In A Depression Right Now Gregory White | David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression… David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression.Rosenberg sums it up like this:

This is what a depression is all about — an economy that 33 months after a recession begins, with zero policy rates, a stuffed central bank sheet, and a 10% deficit-to-GDP ratio, is still in need of government help for its sustenance.

Harry Dent, Jr. Economy will be in a Depression by 2011
The worst of this next depression is likely to hit between mid-2010 and mid-2013, especially around early 2011, but if the banking system continues to implode a deep downturn or depression could begin sometime in 2009 instead of 2010.
Dow will Fall to 3,800 – 4,500 by 2012
Nasdaq will Fall Below 1,100, its 2002 low, by late 2010 or mid-2012 at the latest.
Inflation will Increase until mid- 2010 and then turn to Deflation
Interest Rates will Increase
U.S. Dollar will Decline
Housing will Decline by 40 – 60% from Today’s Levels
Greatest Economic and Banking Crisis since the 1930s will Occur Between 2010 and 2012). ]

Survey: Half of Wall Street expects bigger bonus this year (Washington Post) [ This is nothing short of incredible … What they should be expecting, for the sake of the nation and the world, is an 8 by 10 jail cell! ] Bloomberg The percentage anticipating a bigger bonus increased from last year.

Gerald Celente: “The selloff of America” Financial institutions on Wall Street are preparing to pay a shocking record $144 billion dollars in compensation & benefits. This amid spiraling foreclosures and an economic crisis that has devastated Americans, leaving many out in the street. Gerald Celente of the Trends Research Institute says that the gap between rich and poor in the US will continue to get larger because of the bank bailout that Washington shelled out in 2008.

Wall Street: The Speed Traders - 60 Minutes - CBS NewsOct 10, 2010 ... 60 Minutes on CBS News: Wall Street: The Speed Traders - Steve Kroft gets a rare look inside the secretive world of "high-frequency trading ... www.cbsnews.com/video/watch/?id=6945451n [ CBS 60 minutes should be lauded for ‘daring to go where no man dare to go before’, particularly pre-election. Video Robot Traders of the NYSE ‘In a secret new building in new jersey ‘( meaningfully lawless, pervasively corrupt, multi-ethnic mob-infested/controlled jersey / http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm / , the perfect venue for this fraud )’, high-speed computers decide which stocks to buy and sell. Could this kind of automated "trading floor" lead to Wall Street's next "flash crash"?’ ( I’ve included this web site archived file of the transcript of the segment with links to the CBS videos, here http://albertpeia.com/highfrequencytradingcbs60minutes.htm ) I add the following personal observation with regard to a comment made by the only ‘high frequency trader’ who agreed to be interviewed; viz., that the ’process’ was all ‘math’. Unfortunately, investing, investments, security analysis / valuation, is not just math. Indeed, in my MBA Finance ( NYU GBA, eve program which included professors actually successfully working on the street ) I can attest to the complexity of the math / algorithms underlying the financial theory of investing for which there were no ‘short-cuts’ to understanding (Modigliani / Miller, Nobel Prize Winners , for example, were a royal ‘pain in the a ’, the material being far more complex than the far more voluminous but much more easily synthesized law school fare.) The problem with said theory is that it’s just not how it’s done on wall street but rather, geared to being descriptive after the fact because invariably, if used as an investing approach you would find yourself a loser or at best, a tandem market performer (‘Random Walk Down Wall Street’, the ‘Random Monkey’, etc.). Day to day, week to week, the ‘random stroll’ is hard to dispute; yet, behind the scenes a different story of manipulation unfolds; which manipulation has become extremely efficient via lightning speed computerized churn and earn trades, and hence, very lucrative but debilitating to the nation. The churning and earning (commissions) is the end in itself. The math for streams of payments and alternatively receipts, and present values thereof is indeed math, and an actual application of same would be the insolvency, for example, of social security, etc.. I had the fortunate experience to have met with a successful wall street executive (chairman, executive committee, institutional research / brokerage house) who was talking up a career for me on wall street and whom I thought highly of owing to his accomplishments and candor, ie., what you read in , for example, the wall street journal, was total b* s***, etc.. ( In his world there were few if any grey areas; ie., among others, there were only two kinds of people; viz., people with money, and people who want money. Of course, I knew this to be false based upon such individuals as my Pastor who Confirmed me and who easily could have been a lawyer, uncorrupt judge, etc., and of times past in the u.s. and no longer apposite a career soldier, law enforcers, teachers, artists, etc.). The point is, wall street wasn’t straight then, and far worse, certainly not today. No, the high frequency trades are a scam of great modern day proportion, which eat into the productive capabilities and value of the nation which is set forth elsewhere on my site and evidenced by this continuing debacle and national decline today. A good programmer can easily mask and obfuscate the scam with seemingly lightning fast moves which purport to be rational, but are but symptomatic of an economically (self-)destructive exercise for all but the greedy criminally insane on wall street today. As, if not more, important for civilized society is an unwillingness to do anything for money (ie., fraudulent wall street, mob, drug cartels, criminals, etc.; which of course is the problem confronting america particularly, and the world generally. ]

Palestinians counter israeli offer on settlements (Washington Post) [ The Palestinians, unlike the lawless israelis are cognizant of u.n. resolutions, prior accords, international law, etc., in their proposal. ]

Parker: The economic crisis was an 'inside job' (Washington Post) [ And even worse, the f*-up is still a continuing ‘work-in-progress’ … really … they haven’t a clue … not even the slightest idea what they’re doing. … Alex Jones: Total Economic Implosion and Bondage by Design It’s here where I part ways with Jones et als inasmuch as, though they will attempt to have same serve their typically nefarious ends, these ‘so-called elites’ (there really is no such thing in this worldly reality except in their own warped minds) are but incompetent vegetables (Jones gives them much too much credit, although their incompetence does play a significant role in this pathetic state of the world), but indeed many of them criminally insane and who should be incarcerated for real crimes. ] Infowars.com** | The global elite have engineered a total economic collapse. ] Trying to assign blame to either Democrats or Republicans is pointless. Everyone is culpable.

Feds press mortgage lenders to fix documents (Washington Post) [ Fix documents? In matters involving far more serious crimes of far more significance longer term to the nation, I’d be content with mere adherence to clear law applied to the documented facts, no matter where and to whom the crimes lead … see infra… ] White House says Obama will not sign foreclosure bill [ Oooooh, whoops … Sounds like a plan!] Consumer advocates and state officials argue legislation would make it difficult for homeowners to challenge documents prepared in other states. [When talking about the pervasively corrupt american legal / judicial system, you’re truly talking about tips of the iceberg! Judges rule without title, lenders can't foreclose (Washington Post) [ Rules of law? I didn’t think they cared. That’s certainly the direct experience I’ve had with the pervasively corrupt american legal / judicial system (along with the other two branches of the u.s. government and defact bankrupt america generally). Court decisions could call into doubt the ownership of mortgages, raising urgent challenges for both the real estate market, wider financial system. Connecticut, California join probe of Ally (Washington Post) [I’d be much more impressed if they initiated a probe of more readily discernible criminal offenses in violation of the RICO Act http://albertpeia.com Frauds/Liars (sic-lawyers)Covering Up for Other Frauds/Liars (sic-lawyers). In Productive Societies as China, Japan, etc., Fraudulent Liars (sic-lawyers) and the Fraudulent u.s. System They're a Part of Are Unheard Of/Non-existent. List of Files Regarding Filed Attorney Grievance Against Fraud coan et als Or Here For A Clearer View Of Filed Grievance Complaint, Response, Exhibits, and Related RICO Filings Note the Committee of Frauds/Liars (sic-lawyers). Included are DOJ Rep., State Court Rep., State Atty. General Office Rep., and even a Vegetable Garden yale law prof who probably never practiced law in his life. How Pathetic! http://albertpeia.com/fbiofficela91310 ] Justice: FBI improperly opened probes (Washington Post) [ I just hope they’re as zealous (in probing readily discernible crime) with regard to my RICO matters and the corruption in the (judicial / legal) process since, in the final analysis, it will have been the corruption within that will have brought the nation down irrevocably and totally.

October 5, 2010 (*see infra)

Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700

Los Angeles, CA 90024

Dear Sir:

I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer’s browser) as per your office’s request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).

The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages) [ ricosummarytoFBIunderpenaltyofperjury.pdf ].

The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm . With regard to the calls to the FBI’s LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did – he served 12 years in prison, aggravated assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew Maloney’s the one that prosecuted gotti).

In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth in the case, inter alia,

A judgment had been entered in my favor in the case, United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess of $300,000 remains unaccounted for and which could be used for payment to creditors, Los Angeles, etc..
Counsel Robert Sullivan on my behalf documented by way of certification upon investigation that Alan Shiff, USBCJ, had falsely stated a dismissal upon which false statement he predicated a retaliatory and spurious contempt proceeding against me causing substantial damage, and for which he sought Judicial Notice of those and related proceedings as did I in some of my filings.
The Order of Dismissal With Prejudice by Alan Shiff, USBCJ, owing to Defendant Coan’s failure to file anything whatsoever by the court’s deadline causing creditors and me substantial damages: [ Shiff Order of Dismissal With Prejudice on Coan’s Failure to File Page 1 Page 2 ]
Defendant Coan had filed an action against me to prevent me from suing him which necessitated me to fly to Connecticut for a hearing before The Honorable Robert N. Chatigny, Chief Judge, USDC, District of Connecticut, who denied Coan’s requested relief as to Coan but precluded my action against Shiff (although there is no immunity, judicial or otherwise, for criminal acts, ie., fraud connected with a case under Title 11, USC, etc.) . [ transcript in pertinent part - crossexamofcoanbypeia.pdf ]
Newly appointed judge, Maryanne Trump Barry, Donald Trump’s sister, was assigned the RICO case despite the conflict of interest in light of hundreds of thousands of dollars of illegal (drug) money being laundered through the Trump casinos by the RICO defendants, and despite my motion to recuse her which motion she heard herself and denied, and U.S. Trustee Hugh Leonard with whom I met personally refused to join or file a separate motion to recuse and not long thereafter left said office for private practice at Cole, Shotz, et als on retainer with the RICO defendants as his primary client.
Probative and evidentiary documents, affidavits, exhibits, including those turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to Assistant U.S. Attorney Jonathan Lacey with whom I met personally at the U.S. Attorney’s Office in Newark, N.J., at which time Samuel Alito was U.S. Attorney, and went over said documents and their probative value with him. Within approximately a month thereafter upon inquiry I was told that Jonathon Lacey was no longer with the office, that the file/documents could not be located, and that there was no further information available concerning contacting him or his location. I thereupon delivered by hand, copies of said documents to the office of then U.S. Attorney Alito, addressed to him, with assurance they would go directly to him. In addition to being inept [ I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt Alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches. As much as I hate the mob, it truly was funny, if not so tragic.], Alito is also corrupt (and maybe corrupt because he is inept). After a reasonable (but still rather short) time I called to determine the status and was told that Alito was no longer with the Office of the U.S. Attorney, that he was (appointed) a federal judge, and that neither the documents nor any file or record of same could be located. Alito did parley the same / cover-up into quid pro quo direct lifetime appointment to the Court of Appeals, 3^rd circuit, despite the absence of judicial experience or successful tenure as U.S. Attorney (Maryanne Trump Barry as well). This is the same Sam Alito that now sits on the purported highest court in the land. The real application of the illegal rule ‘don’t ask, don’t tell’.

There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.

Sincerely,

Albert L. Peia

611 E. 5^th Street, #404

Los Angeles, CA 90013

(213) ******* (cell phone)

(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their ‘fix’ so cell phone best for contact).

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*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated.

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Label/Receipt Number: 0310 1230 0000 0862 8183

Expected Delivery Date: September 15, 2010

Class: Priority Mail®

Service(s): Delivery Confirmation™

Status: Delivered

Your item was delivered at 10:14 am on September 15, 2010 in LOS ANGELES, CA 90024.

Track and Confirm

Enter Label/Receipt Number.

Enter Label / Receipt Number.

Detailed Results:

Bullet Delivered, September 15, 2010, 10:14 am, LOS ANGELES, CA 90024

Bullet Arrival at Post Office, September 15, 2010, 4:12 am, LOS ANGELES, CA 90024

Bullet Processed through Sort Facility, September 14, 2010, 8:29 pm, LOS ANGELES, CA 90052

Bullet Acceptance, September 14, 2010, 4:04 pm, LOS ANGELES, CA 90017

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Sent Postage Prepaid: United States Mail - VIA Priority Mail, Delivery Confirmation and VIA Certified Mail this 5th day of October, 2010.

Signed: ___________________________________

Albert L. Peia

]

] Federal regulators seek to prevent the growing furor over improper foreclosures from escalating, pressing mortgage lenders to replace flawed and fraudulent court documents while insisting that foreclosures continue apace. But advocates say the policy is soft on banks and may have little effect, because many lenders are already taking such steps.

Market's optimism, earning data push stocks (Federal Reserve will take steps to help economy, investors predict ) and push them higher (Washington Post) [ Now if the article headline said ‘fed will take steps to help wall street’, I’d say spot-on, but help the economy? … I don’t think so, and neither do other astute analysts! ] infra:

US Dollar Plunges, Gold Soars To New Record, Sold With $200+ Mark Ups Steve Watson | The US dollar plunged once again today as the currency continues to be battered by rumours that the Federal Reserve will announce plans to buy $1 trillion of government debt in the form of “monetary easing”.

Has Bernanke Gone Too Far? Nicholas Santiago | If the Federal Reserve Bank is going to keep printing money, traders will take advantage of the one asset class that will be directly affected. That asset class is the precious metals– GOLD, that is.

Jobless Claims, Inflation, Trade Deficit Each Surge Higher Reuters | New U.S. claims for jobless benefits rose last week, hardening the view the central bank will pump more money into the economy, and keeping pressure on Democrats poised to lose congressional seats in Nov. 2 polls.

Gerald Celente: “The selloff of America” Financial institutions on Wall Street are preparing to pay a shocking record $144 billion dollars in compensation & benefits. This amid spiraling foreclosures and an economic crisis that has devastated Americans, leaving many out in the street. Gerald Celente of the Trends Research Institute says that the gap between rich and poor in the US will continue to get larger because of the bank bailout that Washington shelled out in 2008.

US Dollar Plunges, Gold Soars To New Record, Sold With $200+ Mark Ups The US dollar plunged once again today as the currency continues to be battered by increasingly substantial rumours that the Federal Reserve will announce, within the next three weeks, plans to buy $1 trillion of government debt in the form of “monetary easing”.

Meet Danielle And Jim Plus 9: The Squatters Who “Reclaimed” Their Foreclosed Home Over The Weekend Unfortunately, surreal stories like this will very soon become daily news. As was pointed out yesterday, Simi Valley has just seen the first case of a forced reclamation of a foreclosed home, after Jim and Danielle Earl took their nine (9!) children, ages 9-23, and a locksmith and broke into the six-bedroom house that had been foreclosed upon for lack of payment, and on which the couple owed $880,000!

Dollar Falls to 15-Year Low Versus Yen on Fed Policy Outlook The dollar depreciated below 81 yen, a 15-year low, and reached its weakest since January against the euro before reports likely to fuel speculation the Federal Reserve will ease monetary policy further.

The Questions That Swirl Around The Fed The question keeps swirling around regarding the Fed and just how much Treasury paper they can buy from the market under current rules. Our guess is about $1.7 trillion.

RealtyTrac Reports Q3 Foreclosures Hit All Time Record… Just In Time For The Plunge Looks like someone may have had a little advance notice on October’s foreclosure semi-moratorium festivities. According to RealtyTrac, September foreclosures marked a 5 month high of 347,420, jumping 3% from the previous month and 1% from September 2009, even as the 3rd quarters marked the highest foreclosure activity on record.

Report From Europe: Rise in Jobless Claims Takes Shine Off Stocks The Mole The QE trade is alive and well and risk assets are firing on all cylinders. Gains in stocks and commodities, in particular, are now accelerating. It seemed to me that QE2 talk would prove bullish for risk assets. And the lack of a cooperative stance within the G20 on currency matters – as the IMF meetings over the weekend showed – is now adding fuel to the fire. To recap U.S. stocks rose Weds, sending benchmark indexes to five-month highs (but failed to close above the key 1175 level), as better-than-estimated results at CSX Corp. (CSX) and China’s record currency reserves boosted optimism in the economic recovery. CSX, the second-largest publicly traded U.S. railroad, rallied 4.2 percent after also saying it’s seeing improvements across almost all markets, Alcoa added 1.3 percent and Freeport-McMoRan Copper & Gold (FCX) advanced 3.8 percent leading a measure of raw materials producers to the biggest gain among 10 industries in the S&P’s 500 Index, amid speculation that Chinese demand will improve after the world’s fastest-growing major economy announced $2.65 trillion in currency reserves. But JP Morgan (JPM), which had opened up 2 percent after beating the Street by 13 percent, later turned offered as on second glance the figures were flattered by a higher reserve release and lower provisions and finished the day down 1.5 percent. I think those Chilean miners have become too mainstream…I preferred them when they were underground!
Today’s Market Moving Stories

The seemingly friendless USD slid across the board overnight following the decision of the Monetary Authority of Singapore to widen the band of the Singapore Dollar and thus allow more strength against the USD. So they have effectively tightened policy by slightly raising the speed of
SGD appreciation against a trade weighted basket and widening the managed band. This in response to an economy which has eaten into all its spare capacity and is at risk of inflation. Clearly Singapore is at the opposite end of the economic spectrum to the US. And the move contrasted with the recent attempts by Emerging Markets central banks to prevent further appreciation of their currencies. Importantly, there was also little to suggest that other central banks in the region are following suit in the immediate aftermath of the MAS decision. The fact that freely floating currencies like EUR and SEK were among the top performers against USD overnight also indicates that there was little to suggests that investors are anticipating more burden sharing and less unilateral FX interventions to come going forward.
Richmond Federal Reserve Bank President Jeffrey Lacker said a Fed policy devoted primarily to reducing unemployment risks damaging the central bank’s credibility in containing inflation. “With inflation reasonably close to any plausible definition of price stability, and all expectations measures pointing in the right direction, making unemployment a policy imperative poses clear risks to the credibility of our long run inflation goals,” Lacker said yesterday in a speech in Chapel Hill, North Carolina. The Fed is considering the purchase of more Treasury securities and efforts to boost inflation expectations to stimulate the economy and reduce unemployment persisting near 10 percent, according to minutes of the Sept. 21 meeting of policy makers released this week. The central bank was prepared to ease monetary policy “before long,” the minutes said. “Inflation is now on target, as far as I’m concerned,” Lacker told business leaders in the region. “I do not see a material risk of deflation — that is, an outright decline in the price level.”
More than 100,000 U.S. homes were seized by lenders in September, a record number that probably will decline in coming months as major banks halt repossessions and review their foreclosure practices. Lenders took over 102,134 properties last month, RealtyTrac Inc. said in a report today. That was the highest monthly tally since the company began tracking the data in 2005, surpassing the August record of 95,364. Foreclosure filings, including default and auction notices, rose 3 percent from the prior month to 347,420. One out of every 371 households received a notice. Sales of properties in the foreclosure process accounted for almost a third of all U.S. transactions in the month, a sign that a prolonged delay in repossessions may hurt the housing market, RealtyTrac said.
The Bank of England must combat inflation if it is to remain credible, senior policy-maker and resident hawk Andrew Sentance has warned. Mr Sentance, an external member of the Bank’s Monetary Policy Committee (MPC), has repeatedly voted for the base rate to be raised, but has been overruled by his other committee members who want to keep it at the current record low of 0.5pc. Maintaining such a low rate could damage confidence in the Bank’s ability to steer the economy and lead to “self-fulfilling” expectations of above target inflation, he argued in a speech in London on Wednesday. In recent years monetary policy and the MPC’s actions have created confidence that stable inflation will be maintained, he said. He also said somewhat curiously that the record drop shown in the Halifax house-price gauge last month may show “volatility” instead of heralding a renewed property-market slump.
Bank of England Deputy Governor Paul Tucker said he is “more balanced’ than he expected to be about inflation and removing expansionary policies, the Daily Mail reported, citing an interview. Until recently Tucker regarded inflation as being ‘‘uncomfortably high,’’ the newspaper said. The key is the labour market, which is ‘‘a slight amber light’’ while the decline in house prices isn’t ‘‘terribly surprising,’’ Tucker said, the Mail reported.
In other comments, the BOE MPC member Adam Posen said the global economy needs more monetary stimulus and restraint in deficit reduction to avert a repeat of mistakes made by European policy makers in the 1930s. Monetary policy that doesn’t do enough to stimulate the economy risks provoking low growth and deflation if governments at the same time execute strict spending cuts, Posen said in a commentary published in Handelsblatt newspaper.
According to the FT two Norwegian day traders have been handed suspended prison sentences for market manipulation after outwitting the automated trading system of a big US broker. The two men worked out how the computerised system would react to certain trading patterns – allowing them to influence the price of low-volume stocks. The case, involving Timber Hill, a unit of US-based Interactive Brokers, comes amid -growing scrutiny of automated trading systems after the so-called “flash crash” in May, when a single algorithm triggered a plunge in US stocks. Svend Egil Larsen and Peder Veiby had won admiration from many Norwegians ahead of the court case for their apparent victory for man over machine. Prosecutors said Mr Larsen and Mr Veiby “gave false and misleading signals about supply, demand and prices” by manipulating several Norwegian stocks through Timber Hill’s online trading platform. Anders Brosveet, lawyer for Mr Veiby, acknowledged that his client had learnt how Timber Hill’s trading algorithm would behave in response to certain trades but denied this amounted to market manipulation. “They had an idea of how the computer would change the prices but that does not make them responsible for what the computer did,” he told the Financial Times. Both men have vowed to appeal against their convictions. Messages posted on Norwegian internet forums on Wednesday indicated widespread sympathy for the defendants. “It is the trading robots that should be brought to justice when it is them that cause so much wild volatility in the markets,” said one post. Mr Veiby, who made the most trades, was sentenced to 120 days in prison, suspended for two years, and fined NKr165,000 ($28,500). Mr Larsen received a 90-day suspended sentence and a fine of NKr105,000. The fines were about equal to the profits made by each man from the illegal trades. Christian Stenberg, the Norwegian police attorney responsible for the case, said any admiration for the men was misplaced. “This is a new kind of manipulation but it is still at the expense of other investors in the market,” he said. Interactive Brokers declined to comment. Irregular trading patterns were first spotted by the Oslo stock exchange and referred to Norway’s financial regulator.
The earnings season so far has been broadly positive. S&P 500 companies’ earnings are expected to rise 23.6 percent from a year ago and according to Thompson Reuters data, 81 percent of the S&P 500 companies that have already reported have surpassed expectations. According to Thomson Reuters, the long-term average for beats for an entire reporting period is 61 percent.
Datawise today we’ve just had the US weekly jobless claims numbers & they have disappointed rising to 462k against expectations from them to stand pat at 445k and the PPI numbers have come out with a higher print than expected & taken some of the early doors shine off the S&P futures.
There was a rumour in the market this morning that the US and China have agreed a deal on Chinese Renmimbi (yuan) valuation higher, in turn US will hold back QE2? This may not be as far fetched as it seems as though the earnings season has got off to a good start with both JP Morgan and Intel beating market expectations. But the broader QE theme is what continues to drive risk higher and the USD lower. Gold has made fresh highs; and the AUD is approaching parity with the Greenback; EUR traded through 1.41, while CAD finally broke the 1.00 level in Europe. However the QE theme is providing Asian policymakers with an increasing headache. Intervention to stem currency appreciation has added over USD 250bn to Asian FX reserves over the past quarter, with about 120bn of that in September alone. Diversification flows continue to push the EUR higher. But as interest rates rise in Asia, so too do the costs of sterilisation. Chinese PBOC 3m bills yield over 1.5 percent; for a similar yield from US Treasuries, the central bank must go out beyond six years. As such the market pressure on Asian Central Banks to allow currency appreciation continues to mount. In response, Singapore’s MAS has signalled a steeper pace of currency appreciation over the next six months. In a different approach, the Bank of Korea has refrained from raising rates, willing to risk higher inflation to avoid further yield-chasing inflows. And China continues to allow slow appreciation of the Renminbi, but at a cost of increased inflows of hot money as evidenced by the USD 100bn jump in reserves in September. In this environment, I watch for triggers that might shift market expectations for QE. While inflation is a key input for the Fed, tomorrow’s US CPI is unlikely to change the outlook. More important will be Bernanke’s Boston Fed speech, also tomorrow – it will be watched for potential discussion of more unorthodox measures. But at this stage I believe the major risk is that markets are overpricing QE. Today’s trade balance numbers from the US may augment the current anti-China sentiment. The Chairman of the Senate finance committee said that the US Senate is poised to follow the House in passing legislation on China. The compromise for China and the US would be less aggressive QE from the US in return for RMB appreciation. The currency implication would be a stronger Asia, and a fall in EUR/ USD.
Meanwhile the USD /JPY cross has marked a new 15-year low despite further official jawboning. While there remains some nervousness as we approach key levels at 80.65 and the all-time lows of 79.75, markets see Japanese condemnation of Korean intervention as raising the bar to further intervention, particularly ahead of the G20 finance ministers’ meeting at the end of next week. Intervention looks unlikely while the move is a broad USD one, and while yen crosses remain relatively elevated. Accordingly a drift lower towards the 80 level looks likely.

Company / Equity News

Today in Europe the fallout from the surprise rights issue by Standard Chartered (SCBFF.PK) continues to cause ripples. The FTSE 350 Banks Index has lost 4.5 percent since the beginning of August amid concern that new requirements under the Basel III accord will require banks to raise more capital, diluting shareholder value. And Barclays (BCS) lost 3.1 percent today partially down to a broker downgrade at Execution Noble who downgraded the shares to “neutral” from “buy.” French bank Societe Generale (SCGLY.PK) was also feeling the chill down 2.3 percent and Royal Bank of Scotland (RBS) fell 3.2 percent again reflecting the nervousness amongst investors to financials.
Other notable movers included African Barrick which has shed 8.3 percent Thursday on news that the company suspended about 40 percent of employees in the site’s mining department due to allegations of widespread theft & infiltration by criminal gangs . The miner will produce about 30,000 ounces less this year as a result of the theft. The company had already cut production by 10,000 ounces in the third quarter.
Vodafone (VOD) has risen 1.3 percent to 166.1 pence. Nomura lifted its recommendation on the world’s second-largest mobile-phone company by market capitalization to “buy” from “neutral.” Separately, hedge-fund manager David Einhorn said that analysts may have undervalued Vodafone shares by disregarding the U.K. company’s 45 percent stake in Verizon Wireless because it doesn’t pay a dividend.
WH Smith Plc advanced 5.4 percent this morning after the U.K.’s biggest seller of magazines said it will return as much as £50 million of cash to investors through a “rolling share buyback.” WH Smith said full-year profit before tax and exceptional items rose 9 percent to £89 million in the 12 months through August.
In Germany, preferred shares of Hugo Boss have advanced 4.4 percent after Germany’s largest clothing maker raised its sales and profit forecasts. Earnings before interest, taxes, depreciation, amortization and one-time items will rise about 20 percent for the year, according to the Metzingen-based company, which previously forecast growth of 10 percent to 12 percent.
French luxury goods company LVMH Moet Hennessy Louis Vuitton (LVMUY.PK) Thursday expressed confidence for this year as it reported a 23 percent jump in third-quarter sales with all divisions growing at a double-digit rate. Sales for the third quarter were €5.11 billion, compared with €4.14 billion a year earlier, beating analysts’ expectations of €4.83 billion, according to a Dow Jones Newswires poll. The group’s performance so far this year has “confirmed its confidence for 2010,” the company said in a statement, signalling that the owner of fashion house Fendi and jewelry brand Chaumet is entering the all important end-of-the year period with new-found assurance. Luxury goods executives have been cautious in calling a return to their sector’s growth after the economic crisis abruptly ended years of fast growth. LVMH shares have risen 23 percent over the past six months, largely outpacing the Paris CAC-40 index, which declined 6 percent over the same period. Investor confidence in the sector has gathered speed in recent months.
Germany’s Demag Cranes may be open to a takeover bid if it involves a comprehensive offer that benefits all parties, the Financial Times Deutschland reported Thursday, citing people close to the company. Last week, the crane builder rejected overtures from rivals Konecranes Oyj of Finland and Terex Corp. of the U.S., although no concrete bids were made, the report said. Demag has said its strategy centres on independence, the report said.
There is current news focus on the foreclosure process by the big US banks. Loan document procedures in particular are under scrutiny. Wells Fargo (WFC), Bank of America (BAC), JP Morgan (JPM) are probably most exposed in this story. JP Morgan has set aside $1.3 billion in litigation reserves, a chunk of which is for potential cases in mortgages. In the meantime it has halted foreclosures. BoA also stopped foreclosing from last week while it reviews the accuracy of its docs. Wells and BoA took some beating in CDS yesterday although the share prices were not really punished. This is one of those shadows on the banks that they could do without, certainly in the current bank-bashing society we are in and will probably cost them to some extent (e.g. litigation reserves).
Visa (V) and MasterCard (MA), the world’s biggest payment networks, climbed in New York trading yesterday after JPMorgan Chase & Co. reported a 6.6 percent increase in credit-card spending. Visa advanced 3.6 percent and MasterCard, rose 3.9 percent.
Bloomberg reports that AOL Inc. (AOL) and several private-equity investors are exploring a mega deal for Yahoo! Inc. (YHOO), the Wall Street Journal reported, citing unidentified people familiar with the matter. Yahoo isn’t involved in the deal yet, the Journal said. Silver Lake Partners and Blackstone Group LP are among the firms interested in a potential deal, the newspaper said. Unidentified spokespeople for AOL, Yahoo and Blackstone declined to comment, the Journal said, adding that Silver Lake didn’t immediately respond to requests for comment. Elsewhere Yahoo is reported to have hired Goldman Sachs to advise it on how to fight any potential takeover.
Clearwire Corp. (CLWR), the high-speed wireless carrier, is seeking to raise $2.5 billion to $5 billion in a wireless-spectrum auction that has attracted telephone and cable companies, said people with direct knowledge of the sale. AT&T Inc. (T), Verizon Wireless (VZ), Deutsche Telekom AG (DTEGY.PK), Time Warner Cable Inc. (TWC) and Clearwire’s majority owner, Sprint Nextel Corp. (S), are among potential buyers of the spectrum, said the people, who declined to be identified because the process isn’t public. The bidding is in its second round and being managed by Deutsche Bank AG, they said. Clearwire shares surged as much as 11 percent.
Vodafone Group Plc’s shares may be undervalued as analysts are disregarding the U.K. company’s 45 percent ownership in Verizon Wireless because it doesn’t pay a dividend, according to hedge fund manager David Einhorn. “We have a lot excitement relating to Vodafone,” Einhorn, who profited from bets against Lehman Brothers Holdings Inc. in 2008, said today at the Value Investing Congress in New York. “Eventually they will begin to collect a dividend, perhaps as early as next year, and then we will get a revaluation of that stock from there.” Vodafone, the world’s biggest wireless operator, hasn’t received a dividend since 2005 from its stake in Verizon Wireless, whose head Lowell McAdam was promoted to president and chief operating officer of New York-based Verizon Communications Inc. in September.
Iraq is in the final stages of agreeing on a draft of its $12 billion gas contract with Royal Dutch Shell PLC (RDS.A), the country’s oil minister said Wednesday, allaying fears the project was mired in a legal dispute. Speaking upon his arrival in Vienna for a meeting of the Organization of Petroleum Exporting Countries, or OPEC, Hussein al-Shahristani also said a planned bidding round for three major gas fields would go ahead as planned on Oct. 20 after being delayed twice before. Asked about the reported delay of the Shell deal, Shahristani said: “We are in the final stages of agreeing on the draft before we take it on the cabinet again,” adding “There has been no dispute” over the deal.
Rio Tinto Group (RTP), the world’s third- largest mining company, said third-quarter iron ore production rose to a record. Output rose to 47.6 million metric tons in three months ended Sept. 30, from 47.0 million tons a year earlier, the London-based company said today in a statement. Rio, the world’s second-biggest exporter of iron ore, approved $1.3 billion of spending on expansions at its Australian iron ore assets in the quarter. The company also set production records for alumina and coking coal.
Where the first round of 3Q10 corporate earnings reports overall build on the strong 2Q10 earnings trend, the 7 percent YoY 3Q10 revenue decline reported by Roche Holding this morning confirms the challenges facing the pharmaceutical sector. The virtual cessation in demand for Tamiflu, that was boosted last year due to the swine flu pandemic, was the main reason for the negative revenue growth. In the meantime patent expirations and the consequent M&A activity remain the order of the day in pharmaceuticals. Pfizer’s AA- rating was put on a negative outlook at Fitch at the beginning of October as patent expirations are expected to erode revenues, according to that rating agency. Earlier this week Pfizer (PFE) also announced its acquisition of King Pharmaceuticals for $3.6bn in cash, which is just a fraction of the $62bn linked to the company’s acquisition of Wyeth in 2009. According to S&P, the acquisition will be negligible in terms of the company’s leverage, and therefore Pfizer’s AA rating remains unaffected by the acquisition. Also Moody’s and Fitch do not expect that Pfizer’s rating will be affected by the acquisition. Pfizer will report its 3Q10 earnings on 2 November. Disclosure: None

Stocks' Winning Streak Derailed by Job Market, Foreclosure Worries - Midnight Trader Oct 14, 2010 --

NYSE up 71.4 (+1%) to 7,561.50
DJIA down 1.51 (-0.01%) to 11,095
S&P 500 down 4.29 (-0.4%) to 1,174
Nasdaq down 5.85 (-0.2%) to 2,435

GLOBAL SENTIMENT

Hang Seng up 1.68%
Nikkei up 1.91%
FTSE down 0.35%

UPSIDE MOVERS

(+) YHOO subject of takeover speculation in WSJ story.

(+) ZAGG continues evening jump that followed upbeat outlook.

(+) SUF near pact for mobile sonocracking unit.

DOWNSIDE MOVERS

(-) APOL continues evening drop after company misses with results, outlook.

(-) CECO follows APOL lower.

(-) COCO follows APOL lower.

(-) MSFT price target cut at BarCap.

(-) ALKS downgraded.

(-) GOOG turns lower ahead of post-bell earnings.

(-) AMD turns lower ahead of post-bell earnings.

MARKET DIRECTION

Major stock averages end down, though a late-day charge trimmed declines. Still, a four-day Dow and S&P 500 rally, and a five-day Nasdaq streak, come to a close. Financial shares were leading decliners.

Attention turns to post-bell earnings from Google (GOOG) and AMD (AMD), among others. Both of those stocks have given up early-day gains to trade lower late in the session.

Expectations for Federal Reserve action to spark economic growth continue to underpin the stock market.

Commodities ended mixed with crude losing ground and gold gaining as the broader market suffers under employment worries.

Crude oil for November delivery closed down 0.5%, or $0.32, to settle at $82.69 a barrel. In other energy futures, heating oil was down 0.48% to $2.28 a gallon while natural gas fell 0.38%, to $3.68 per million British thermal units.

Meanwhile, gold futures hit another record by the close of commodities trading.

Gold for December delivery closed up 0.5% to $1,377.60 an ounce. In other metal futures, silver rose 2.5% to $24.53 a troy ounce while copper fell 0.13% to $3.81 a pound.

Financial shares were the major drag on the market as concerns grew about reviews of steps banks took with forecloses. Shares of big banks like JPMorgan Chase & Co. (JPM) and Bank of America Corp. (BAC) dropped as they have suspended foreclosing on homes to review their practices.

Despite bets the Fed is close to acting, more signs of weak economic data does take a toll. Government data Thursday showed that unemployment benefits rose last week for the first time in three weeks; Wall Street economists expected another decline.

Low inflation is also a concern for the Fed. The Fed hinted recently that future bond purchases would help get inflation back to more historically normal levels. Reported today, the September core Producer Price Index, which is a closely watched measure of the cost of goods before they reach consumers excluding volatile energy and food costs, rose in line with analysts' expectations.

(10-14-10) Dow 11,095 -2 Nasdaq 2,435 -6 S&P 500 1,173 -4 [CLOSE- OIL $82.68 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,379 (+24% for year 2009) / SILVER $24.95 (+47% for year 2009) PLATINUM $1,711 (+56% for year 2009) / DOLLAR= .71 EURO, 81 YEN, .62 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.51% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!

National / World

Moneybomb Search Terms Skyrocket to Top of Google Trends Infowars.com | Once again, Infowars search terms have blitzed Google Trends.

U.S. Troops To Deal With Rioting Americans Paul Joseph Watson | U.S. troops are being readied to oversee a post-collapse America in which riots are met with a militarized police state.

Watch the Moneybomb Video Feed Free! Infowars.com | Alex takes to the air in a marathon effort to fund in Infowars operation. Watch the video stream for free over the internet.

MSNBC Teleprompter Reader Attempts to Ambush Ron Paul Kurt Nimmo | Ron Paul ventured into enemy territory when he agreed to appear on the Lawrence O’Donnell show on MSNBC, the same network that ambushed his son.

Government Trains Troops To Run American Cities Paul Joseph Watson | Program re-ignites fears that active duty military are being primed to deal with civil unrest in aftermath of economic turmoil.

wobama, palin, limbaugh distant cousins … I knew there were some dark secrets there … hillbilly heroin, etc..

Riot police storm the Acropolis Reuters | Police in Athens moved in to the Acropolis to break up a blockade by workers protesting over back pay who had locked themselves in to the site and were refusing to let in tourists

`Drudgereport: NEW NORMAL: Long Recovery Looks Like a Recession (Depression) ... Applications for jobless benefits rise to 462,000...`
`'Higher-than-expected'...`
`September home foreclosures top 100,000 for first time...`
`Inflation, Trade Deficit Surge Higher...`
`Dollar tanks as Bernanke speech looms... Afghans allege abuse at secret US jail... 13 troops killed in Afghanistan -- in two days...`
`Fed Mulls Raising Inflation Expectations to Boost Economy...`
`Gold Hits Another Record...`
`Pension protests escalate in France...`
`Sarkozy stands firm...`
`Strikes shut Eiffel Tower... Blankley: The White House Bunker So Soon?`

Palestinians counter israeli offer on settlements (Washington Post) [ The Palestinians, unlike the lawless israelis are cognizant of u.n. resolutions, prior accords, international law, etc., in their proposal. ]

The Root of the Problem The Inflation Trader [ I think it unfortunate that most fail to properly weight in their analysis the irrevocable structural shift that has occurred in the defacto bankrupt u.s. and which cannot be undone. The ‘powers that be’ literally gave up (sold out) the american store (ie., technology transfers for money, protracted treasury depleting and geopolitically unwise wars, perma-frauds on wall street without prosecution, pervasive corruption at all levels including all three branches of the u.s. government, etc., covered elsewhere on this site.) Then of course there’s the insurmountable debt and interest thereon which is now eating into real (not fake) GDP along with other unserviceable promises exacerbating the magnitude of the nations defacto insolvency. ] ‘Your view of something often depends on the position from which you view it. I don’t mean this in the Theory-Of-Relativity sense that a moving observer perceives time differently from the stationary observer, although it is true there too of course. I mean it in the more prosaic sense that a tightrope seems higher when you are standing on it than when you are looking at it from below. As observers of the economy, our initial position – our ‘null hypothesis,’ as I sometimes refer to it – will very much drive our response to economic data; our market position may, if we are not very careful about it, affect our view of the likely future direction of the market. The Federal Reserve yesterday released the minutes of their most-recent meeting, and it looks to me as if their perspective about the necessity of quantitative easing is more biased than we had previously believed. While the minutes reflected (as they often have, especially over the last two years) a diversity of opinion, the following notation grabbed my attention:

Several members noted that unless the pace of economic recovery strengthened or underlying inflation moved back toward a level consistent with the Committee’s mandate, they would consider it appropriate to take action soon.

Notice the subtle difference between this and what actually was agreed to be released as the FOMC’s statement for that meeting:

Measures of underlying inflation are currently at levels somewhat below those the Committee judges most consistent, over the longer run, with its mandate to promote maximum employment and price stability.

“Longer run” in the second phrase seems to conflict with “soon” in the first phrase, making it appear that the official statement was a compromise with at least several members pushing for action “soon.” But that cadre also sets the bar quite low. They aren’t saying the Fed should ease further if things get worse, but that they should ease if things don’t get better quickly enough.That’s a very activist slant. While this group appears to be in the minority, we know from the various speeches that it isn’t a minority of one. QE certainly appears more likely every day that we don’t get positive blow-out economic news.

What is the justification for easing on the basis of a too-slow improvement? I imagine much of this concerns a fairly obscure debate about whether economic growth is “unit root” or not. Stay with me here. This sounds esoteric, but it matters.

It isn’t important to understand the mathematics behind determining whether a time series is generated by a process with a unit root; if you’re interested, you can read the Wikipedia article on ‘unit root.’ * For our purposes, what is important to understand is this: if economic output is not unit root but is rather trend-stationary, then over time the economy will tend to return to the trend level of output. If economic output is unit root, then a shock to the economy such as we have experienced will not naturally be followed by a return to the prior level of output. Actually, the Wikipedia chart is pretty helpful at understanding this – see below (chart). This picture taken from the Wikipedia article on "unit root" (see above for link)

So, the red line is what we have experienced the last few years (stylistically, not literally). If growth is “unit root” then the trend basically picks up from where output is in the immediate aftermath of the shock; if growth is trend-stationary then the recovery should see a period of faster-than-trend growth to get output back to the prior trend level. Note that in both cases, we are assuming no specific contribution from monetary policy. If you believe that growth is trend-stationary, then monetary policy merely serves to get growth back to trend more quickly, thereby minimizing the welfare loss from the output gap (schematically, the area between the dotted line and the “actual” red/blue line). Thereafter, monetary policy takes the pedal off the metal and lets growth converge with trend. If, on the other hand, you believe that growth is unit root, then monetary policy is either trying to arrest the decline in the red line to put the economy back on the green line, or it is (dangerously) trying to accelerate growth back to a “trend” that is not really a trend. I expect this is the substance of Hoenig’s objection – if we’re back near the green line, and output is unit root, then goosing the economy more “will lead to future imbalances that undermine stable long-run growth” (the phrase from the FOMC statement where Hoenig’s dissent was noted).

Clearly, most of the Committee doesn’t believe that output is unit root, because if it did then it would tend to be more suspicious of the ability of Fed policy to reduce that welfare loss. It is true that it is difficult to reject the unit root hypothesis for many economic time series – the ratio of noise to signal in economic data means it tends to be pretty hard to reject many hypotheses that are in the ballpark of being reasonable. But it matters. Problems like this, where the downside to being incorrect are possibly quite large compared to the upside to being right, argue against dramatic Fed action. However, the sense of heroism inculcated in us at a young age by Superman’s exploits argue in favor of heroic measures. Most of us, though, aren’t actually bulletproof. I will make one final observation about this that throws another wrench in the works. What if we don’t know where the dotted line in the picture above actually lies? Long-term economic growth has changed over time as the economy has matured, as population growth changed, and for other reasons. Suppose the unobservable dotted line actually intersects the right-end of the red line? In that case, the current debate takes a totally different patina. If trend growth has actually slowed down in the last decade, then arguably the economic and financial crisis may just have been returning us down to the real trend. In that case, further aggressive Fed action would be essentially trying to restore those dangerous imbalances. This, too, could be part of Hoenig’s argument. And this possibility, too, argues for conservative policy actions.

In economics, unfortunately, we don’t have a map we can look at where a bright red dot indicates You Are Here. But wherever we are, it seems that an increasingly influential minority at the Fed wants to be somewhere else. They are likely to get their wish. The markets responded to all of this yesterday in sleepy fashion, with one exception. The VIX plunged, dropping not only below 20 for the first time since April but also dropping below 19. The degree of confidence being expressed by the stock market here, heading into earnings season followed by a difficult holiday sales season, is chilling. It is hard to let go of suddenly-performing equities, but I am making sales here of some of my lower-yielding and less-conservative equity holdings. Other than some import price data today, there is little on the calendar. Chairman Bernanke is giving a speech on business innovation, but be alert for Q&A.

*Wikipedia: ‘Economists debate whether various economic statistics, especially output, have a unit root or are trend stationary. The issue is particularly popular in the literature on business cycles. Research on the subject began with Nelson and Plosser (1982) ^[1] whose paper on GNP and other output aggregates failed to reject the unit root hypothesis for these series. Since then, a debate—entwined with technical disputes on statistical methods—has ensued. Some economists^[2] argue that GDP has a unit root or structural break, implying that economic downturns result in permanently lower GDP levels in the long run. Other economists argue that GDP is trend-stationary: That is, when GDP dips below trend during a downturn it later returns to the level implied by the trend so that there is no permanent decrease in output. While the literature on the unit root hypothesis may consist of arcane debate on statistical methods, the implications of the hypothesis can have concrete implications for economic forecasts and policies.’

The Coming Bomb From Helicopter Ben Epeneter ‘At the Federal Open Market Committee meeting on November 2nd and 3rd, the Federal Reserve may be ready to buy anywhere from $500 billion to $1 trillion of US Treasuries and mortgages from banks, financial institutions, and the open market, an operation generally known as printing money. Federal Reserve Chairman Ben Bernancke, New York Fed President William Dudley, Chicago President Charles Evans, the Boston President, and others are targeting a 2% inflation rate (the CPI is now about 1%). Their hope is that unemployment will be substantially reduced, gross domestic product will increase, and hope and happiness will return. We think the size of this money-printing operation qualifies as a "bomb" to the markets. Here's five reasons why it's a bomb and won't work as planned.
An increase in the inflation rate quite possibly already in the pipeline. Since Chairman (Helicopter Ben) Bernancke announced his intentions at the August Jackson Hole Wyoming conference, prices for gold, oil, copper, steel, platinum and other precious commodities have risen substantially. These price increases will eventually find their way into the final cost of goods and services you and I buy. An inflation rate of 2% could happen without any further action by the Federal Reserve.
Limited inflation targeting will not work as shown by history. Former Federal Reserve Chairman William McChesney Martin retired in 1970, but during his tenure, he testified before the Senate Finance Committee, "There is no validity whatever in the idea that any inflation, once accepted, can be confined to moderate proportions." The experience of the 70's seems to support his statement. During the 50's and 60's it was thought that some inflation was good for the economy. Looks those who forgot history are putting forth again the idea that limited inflation is good.
Businesses won't borrow until they have confidence that other costs won't go up. The real problem that Federal Reserve money printing doesn't address is the reluctance of business owners to hire more workers and expand business until they know what the costs are going to be (such as health insurance) and what the income tax rate will be (such as the Bush tax cut extension). In addition, owners are struggling with new regulations imposed upon them
Banks won't lend. Banks are building their capital bases and their lending standards have increased. Lending activity is down because of those reasons and providing more cash will not affect lending activity much if any.
The cost/benefit analysis doesn't support it. The Federal Reserve has modeled what would happen if they printed $500 billion of new money. The interest rate on the benchmark 10-yr Treasury note would decrease by .15% or 15 basis points. Unemployment would decrease by 0.2%. GDP would increase by 0.2%. We would ask whether the cost of inflation to the United States as a whole is worth the benefits as modeled by the Fed…’

California governor debate turns into verbal brawl (Reuters) [ California, like the rest of the nation, is such a disaster that I’m disinclined to even comment upon the political scyllas and charybdises nationwide, except in the most glaring instances. Meg Whitman’s membership on the Goldman Sachs board, her $120 million payment to herself then laying off 10% of the company’s workforce, is such an instance. Come on! This is a no-brainer for California … Congratulations Governor Brown! ]

Gold hits record as Fed signal sinks dollar Vancouver Sun | Gold surged to a record high at $1,367.65 an ounce on Wednesday and silver to a 30-year peak.

85% of Americans Angry About Economy, Fuels Republican Advantage ABC News | All told, 85 percent of Americans are either angry about the economy or at least dissatisfied with it, according to the survey, produced for ABC and Yahoo! News by Langer Research Associates.

Fed declares it MUST create inflation! Uncommon Wisdom | Exactly one month ago today, I wrote that Fed Chief Ben Bernanke would soon “pull out nuclear-sized bombs to try and destroy the debt crisis that is affecting the world.”

Gold sets a new record; silver hits 30yr high Gold surged nearly 2% to a record high near $1,375 an ounce yesterday, boosted by worries over dollar depreciation after the Federal Reserve signalled it would start buying government debt again to stimulate the economy.

Gold Surges After Japan Says It Is Considering New QE And Geithner Guarantees Currency Wars A quick look at gold price action demonstrates that someone somewhere is actively debasing currencies. An even quicker scan of headlines confirms this to be the case: per Reuters “Bank of Japan Governor Masaaki Shirakawa said on Wednesday the central bank will consider expanding a new scheme for buying assets ranging from government bonds to exchange-traded funds when deemed necessary.”

Gold futures rise above $1,360 as dollar falls Gold futures resumed their run higher, hitting an intraday high of $1,362 an ounce on Wednesday, as weakness in the U.S. dollar spurred demand for the precious metal.

White House rejects foreclosure moratorium The Obama administration rejected calls for a nationwide moratorium on housing foreclosures amid fears that such a move could cripple an already slow recovery of the U.S. housing market.

National / World

New 9/11 Footage Reveals WTC 7 Explosions Paul Joseph Watson | Video clip NIST fought tooth and nail to keep secret contains clear audible booms as eyewitness describes “continuing explosions” from direction of Building 7.

We’re Under Attack: Support Alternative Media in the Infowar Alex Jones & Aaron Dykes | Make no mistake, the Infowar is under attack. The establishment is alerted to the work that Infowarriors everywhere have done. Now, to continue fighting back in full force, we need your help.

Head of Investigator in Falcon Lake Case Delivered to Mexican Military Kurt Nimmo | The murder of Rolando Armando Flores Villegas points to involvement of drug cartel in the slaying of David Michael Hartley.

Ron Paul: Dollar Collapse Will Spur 2012 Presidential Run Paul Joseph Watson | Congressman indicates that worsening financial picture will re-ignite the Revolution.

New 9/11 Footage Reveals WTC 7 Explosions Newly obtained 9/11 eyewitness footage that NIST fought tooth and nail to keep secret contains what appears to be the sound of explosions coming from the vicinity of WTC 7 after the collapse of the twin towers, offering yet more startling evidence that the building, which was not hit by a plane yet collapsed demolition style, was deliberately imploded.

Jesse Ventura: US should abolish inherently corrupt political parties A dozen years after shocking the nation with an upset win as an Independent candidate in the 1998 Minnesota gubernatorial election, former wrestler Jesse Ventura doesn’t support third parties anymore.

Gallup: 46 Percent Say Federal Gov’t ‘Poses Immediate Threat’ to Rights and Freedoms of Ordinary Citizens; Only 51 Percent Say It Does Not The percentage of Americans who think the federal government poses “an immediate threat” to the rights and freedoms of ordinary citizens has increased significantly over the last seven years, rising from 30 percent to 46 percent, according to a Gallup poll conducted Sept. 13-16 and released today.

We’re Under Attack: Support Alternative Media in the Infowar This video is a chronicle of everything we’ve done here in the Infowar. We ask that you help get it out to everyone you know and tell them to join us live this Thursday, October 14th for an historic 24-hour broadcast to generate support and get out the word as far as we can.

Goldman Sachs Predicts Gold To Hit $1650 Within 12 Months Goldman Sachs expects the dollar to plummet following another round of quantitative easing and has raised its forecast for the gold price to $1,650 per ounce within the next 12 months.

3.5 Million On The Streets And Rising: As French Strikes Escalate, Just How Serious Is The Situation? Even as everyone in America seems to have anywhere between 2 and 4 opinions on Fraudclosure now that the topic is firmly planted in the MSM newsflow, things in Europe are not looking any better, even though most people there shun McMansions for their grandmothers’ houses.

Chicago Reporters Work as Rahm’s Press Thugs; Threaten Radio Host Asking Tough Questions We’ve often said that the media “protects” President Obama but this video from WIND radio host and Big Blogs contributor William Kelly shows this allegation literally.

‘Intl. lobby supports Israel’s crimes’ Former US Congresswoman Cynthia McKinney says a strongly-financed lobby throughout the world has helped Israel violate international law.

`Drudgereport: NEW NORMAL: Long Recovery Looks Like a Recession (Depression) ...`
`Fed Mulls Raising Inflation Expectations to Boost Economy...`
`Gold Hits Another Record...`
`Pension protests escalate in France...`
`Sarkozy stands firm...`
`Strikes shut Eiffel Tower... Blankley: The White House Bunker So Soon?`

French protestors vow to continue strike (Washington Post) [ Hey … wake up … it’s not just in France … and, you’ll see unrest here also as coddling the frauds on wall street will make blood boil! ]Air and rail service throughout the country was disrupted by the protests -- the fourth in a month.

FDIC may seek $1 billion from failed-bank executives (Washington Post) [ Isn’t this exactly what the DOJ should be doing vis-à-vis the frauds on wall street; and additionally, the wall street frauds et als should as well be criminally prosecuted, jailed, fined, and disgorgement imposed.] The agency has authorized lawsuits against more than 50 officers and directors of failed banks across the country.

Obama and oil: How politics spilled into policy (Washington Post) [ There are many reasons to fault wobama for his flawed, failed presidency; but this is not one of them; he gets a pass here. It was all BP. ]Fundamental questions weren't pursued because top administration officials generally accepted the conventional view of the industry's safety record.

Families remember USS Cole 10 years later (Washington Post) [ If only Americans remembered the USS LIBERTY, they’d understand the israeli albatross strangling and bleeding the life out of america as they have since that fateful day.] In the Middle East, it's still 1947 (Washington Post) [ Indeed it should be! Among the few times the cia was correct, and they’ve been trying to put square pegs in round holes ever since, to america’s substantial detriment. I wonder what what those american sailors of the US Liberty killed by the israelis would say? USS Liberty Survivor Threatened by Unknown Israeli This is what happened to Phillip F. Tourney, decorated war hero and survivor of Israel’s premeditated attack on the USS Liberty 43 years ago. On the evening of Aug. 6, Tourney was verbally threatened by a foreign national claiming to work for the government of israel. As for the purported disdain shown for war mongerer netanayahu, if only wobama’s actions matched his words, the same would represent a major plus for him and the nation of america, so sorely in need of pluses whether the same be budgetary or economic or geopolitical. In fact, for America to abrogate 1948 would guarantee America’s survival, prosperity, and global hegemony in the most positive sense. ]

Attorneys general to initiate foreclosure probe (Washington Post) [Wow! Sounds like a plan! … The only thing certain in defacto bankrupt america today is uncertainty! Government Prepares To Seize Private Pensions Paul Joseph Watson | ‘Massive wealth confiscation program would replace 401(k) system with Social Security-run ponzi scheme. … US Drops From First To Seventh In Average Wealth Per Adult, Behind Singapore, Sweden, And… France As if we needed more warnings that the US is rapidly losing its position as the world’s superpower and wealth aggregator, is the following chart from Credit Suisse, which ranks the top 10 countries in the world in terms of average wealth per adult.] Attorneys general from dozens of states are set to announce Wednesday a joint investigation into the nation's biggest lenders, but will stop short of calling for a moratorium on foreclosures in their jurisdictions, officials said.

Fed leaning toward more stimulus, meeting minutes show (Washington Post) [ Most U.S. Stocks Gain on Bets Fed Will Act to Stimulate Economy [ The problem here is that stimulating stock prices and fraudulent wall street is quite the opposite of stimulating the economy. ] Survey: Half of Wall Street expects bigger bonus this year (Washington Post) [ This is nothing short of incredible … What they should be expecting, for the sake of the nation and the world, is an 8 by 10 jail cell! ] Bloomberg The percentage anticipating a bigger bonus increased from last year. For Markets, Bad News Seems to Be Good News which of course was the scenario just before the last crash when stocks were floating on air and b* s*.

Al Peia's Blog

Thursday, October 14, 2010

October 14, 2010 posts

Business / Economic / Financial

This is what a depression is all about — an economy that 33 months after a recession begins, with zero policy rates, a stuffed central bank sheet, and a 10% deficit-to-GDP ratio, is still in need of government help for its sustenance.

Survey: Half of Wall Street expects bigger bonus this year (Washington Post) [ This is nothing short of incredible … What they should be expecting, for the sake of the nation and the world, is an 8 by 10 jail cell! ] Bloomberg The percentage anticipating a bigger bonus increased from last year.

Palestinians counter israeli offer on settlements (Washington Post) [ The Palestinians, unlike the lawless israelis are cognizant of u.n. resolutions, prior accords, international law, etc., in their proposal. ]

Los Angeles, CA 90024

]

US Dollar Plunges, Gold Soars To New Record, Sold With $200+ Mark Ups Steve Watson | The US dollar plunged once again today as the currency continues to be battered by rumours that the Federal Reserve will announce plans to buy $1 trillion of government debt in the form of “monetary easing”.

Has Bernanke Gone Too Far? Nicholas Santiago | If the Federal Reserve Bank is going to keep printing money, traders will take advantage of the one asset class that will be directly affected. That asset class is the precious metals– GOLD, that is.

Jobless Claims, Inflation, Trade Deficit Each Surge Higher Reuters | New U.S. claims for jobless benefits rose last week, hardening the view the central bank will pump more money into the economy, and keeping pressure on Democrats poised to lose congressional seats in Nov. 2 polls.

Dollar Falls to 15-Year Low Versus Yen on Fed Policy Outlook The dollar depreciated below 81 yen, a 15-year low, and reached its weakest since January against the euro before reports likely to fuel speculation the Federal Reserve will ease monetary policy further.

The Questions That Swirl Around The Fed The question keeps swirling around regarding the Fed and just how much Treasury paper they can buy from the market under current rules. Our guess is about $1.7 trillion.

National / World

Moneybomb Search Terms Skyrocket to Top of Google Trends Infowars.com | Once again, Infowars search terms have blitzed Google Trends.

U.S. Troops To Deal With Rioting Americans Paul Joseph Watson | U.S. troops are being readied to oversee a post-collapse America in which riots are met with a militarized police state.

Watch the Moneybomb Video Feed Free! Infowars.com | Alex takes to the air in a marathon effort to fund in Infowars operation. Watch the video stream for free over the internet.

MSNBC Teleprompter Reader Attempts to Ambush Ron Paul Kurt Nimmo | Ron Paul ventured into enemy territory when he agreed to appear on the Lawrence O’Donnell show on MSNBC, the same network that ambushed his son.

Government Trains Troops To Run American Cities Paul Joseph Watson | Program re-ignites fears that active duty military are being primed to deal with civil unrest in aftermath of economic turmoil.

Riot police storm the Acropolis Reuters | Police in Athens moved in to the Acropolis to break up a blockade by workers protesting over back pay who had locked themselves in to the site and were refusing to let in tourists

Palestinians counter israeli offer on settlements (Washington Post) [ The Palestinians, unlike the lawless israelis are cognizant of u.n. resolutions, prior accords, international law, etc., in their proposal. ]

Gold hits record as Fed signal sinks dollar Vancouver Sun | Gold surged to a record high at $1,367.65 an ounce on Wednesday and silver to a 30-year peak.

85% of Americans Angry About Economy, Fuels Republican Advantage ABC News | All told, 85 percent of Americans are either angry about the economy or at least dissatisfied with it, according to the survey, produced for ABC and Yahoo! News by Langer Research Associates.

Fed declares it MUST create inflation! Uncommon Wisdom | Exactly one month ago today, I wrote that Fed Chief Ben Bernanke would soon “pull out nuclear-sized bombs to try and destroy the debt crisis that is affecting the world.”

Gold sets a new record; silver hits 30yr high Gold surged nearly 2% to a record high near $1,375 an ounce yesterday, boosted by worries over dollar depreciation after the Federal Reserve signalled it would start buying government debt again to stimulate the economy.

Gold futures rise above $1,360 as dollar falls Gold futures resumed their run higher, hitting an intraday high of $1,362 an ounce on Wednesday, as weakness in the U.S. dollar spurred demand for the precious metal.

White House rejects foreclosure moratorium The Obama administration rejected calls for a nationwide moratorium on housing foreclosures amid fears that such a move could cripple an already slow recovery of the U.S. housing market.

National / World

New 9/11 Footage Reveals WTC 7 Explosions Paul Joseph Watson | Video clip NIST fought tooth and nail to keep secret contains clear audible booms as eyewitness describes “continuing explosions” from direction of Building 7.

We’re Under Attack: Support Alternative Media in the Infowar Alex Jones & Aaron Dykes | Make no mistake, the Infowar is under attack. The establishment is alerted to the work that Infowarriors everywhere have done. Now, to continue fighting back in full force, we need your help.

Head of Investigator in Falcon Lake Case Delivered to Mexican Military Kurt Nimmo | The murder of Rolando Armando Flores Villegas points to involvement of drug cartel in the slaying of David Michael Hartley.

Ron Paul: Dollar Collapse Will Spur 2012 Presidential Run Paul Joseph Watson | Congressman indicates that worsening financial picture will re-ignite the Revolution.

Jesse Ventura: US should abolish inherently corrupt political parties A dozen years after shocking the nation with an upset win as an Independent candidate in the 1998 Minnesota gubernatorial election, former wrestler Jesse Ventura doesn’t support third parties anymore.

Goldman Sachs Predicts Gold To Hit $1650 Within 12 Months Goldman Sachs expects the dollar to plummet following another round of quantitative easing and has raised its forecast for the gold price to $1,650 per ounce within the next 12 months.

Chicago Reporters Work as Rahm’s Press Thugs; Threaten Radio Host Asking Tough Questions We’ve often said that the media “protects” President Obama but this video from WIND radio host and Big Blogs contributor William Kelly shows this allegation literally.

‘Intl. lobby supports Israel’s crimes’ Former US Congresswoman Cynthia McKinney says a strongly-financed lobby throughout the world has helped Israel violate international law.

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Thursday, October 14, 2010

October 14, 2010 posts

Business / Economic / Financial

This is what a depression is all about — an economy that 33 months after a recession begins, with zero policy rates, a stuffed central bank sheet, and a 10% deficit-to-GDP ratio, is still in need of government help for its sustenance.

Survey: Half of Wall Street expects bigger bonus this year (Washington Post) [ This is nothing short of incredible … What they should be expecting, for the sake of the nation and the world, is an 8 by 10 jail cell! ] Bloomberg The percentage anticipating a bigger bonus increased from last year.

Palestinians counter israeli offer on settlements (Washington Post) [ The Palestinians, unlike the lawless israelis are cognizant of u.n. resolutions, prior accords, international law, etc., in their proposal. ]

Los Angeles, CA 90024

]

US Dollar Plunges, Gold Soars To New Record, Sold With $200+ Mark Ups Steve Watson | The US dollar plunged once again today as the currency continues to be battered by rumours that the Federal Reserve will announce plans to buy $1 trillion of government debt in the form of “monetary easing”.

Has Bernanke Gone Too Far? Nicholas Santiago | If the Federal Reserve Bank is going to keep printing money, traders will take advantage of the one asset class that will be directly affected. That asset class is the precious metals– GOLD, that is.

Jobless Claims, Inflation, Trade Deficit Each Surge Higher Reuters | New U.S. claims for jobless benefits rose last week, hardening the view the central bank will pump more money into the economy, and keeping pressure on Democrats poised to lose congressional seats in Nov. 2 polls.

Dollar Falls to 15-Year Low Versus Yen on Fed Policy Outlook The dollar depreciated below 81 yen, a 15-year low, and reached its weakest since January against the euro before reports likely to fuel speculation the Federal Reserve will ease monetary policy further.

The Questions That Swirl Around The Fed The question keeps swirling around regarding the Fed and just how much Treasury paper they can buy from the market under current rules. Our guess is about $1.7 trillion.

National / World

Moneybomb Search Terms Skyrocket to Top of Google Trends Infowars.com | Once again, Infowars search terms have blitzed Google Trends.

U.S. Troops To Deal With Rioting Americans Paul Joseph Watson | U.S. troops are being readied to oversee a post-collapse America in which riots are met with a militarized police state.

Watch the Moneybomb Video Feed Free! Infowars.com | Alex takes to the air in a marathon effort to fund in Infowars operation. Watch the video stream for free over the internet.

MSNBC Teleprompter Reader Attempts to Ambush Ron Paul Kurt Nimmo | Ron Paul ventured into enemy territory when he agreed to appear on the Lawrence O’Donnell show on MSNBC, the same network that ambushed his son.

Government Trains Troops To Run American Cities Paul Joseph Watson | Program re-ignites fears that active duty military are being primed to deal with civil unrest in aftermath of economic turmoil.

Riot police storm the Acropolis Reuters | Police in Athens moved in to the Acropolis to break up a blockade by workers protesting over back pay who had locked themselves in to the site and were refusing to let in tourists

Palestinians counter israeli offer on settlements (Washington Post) [ The Palestinians, unlike the lawless israelis are cognizant of u.n. resolutions, prior accords, international law, etc., in their proposal. ]

Gold hits record as Fed signal sinks dollar Vancouver Sun | Gold surged to a record high at $1,367.65 an ounce on Wednesday and silver to a 30-year peak.

85% of Americans Angry About Economy, Fuels Republican Advantage ABC News | All told, 85 percent of Americans are either angry about the economy or at least dissatisfied with it, according to the survey, produced for ABC and Yahoo! News by Langer Research Associates.

Fed declares it MUST create inflation! Uncommon Wisdom | Exactly one month ago today, I wrote that Fed Chief Ben Bernanke would soon “pull out nuclear-sized bombs to try and destroy the debt crisis that is affecting the world.”

Gold sets a new record; silver hits 30yr high Gold surged nearly 2% to a record high near $1,375 an ounce yesterday, boosted by worries over dollar depreciation after the Federal Reserve signalled it would start buying government debt again to stimulate the economy.

Gold futures rise above $1,360 as dollar falls Gold futures resumed their run higher, hitting an intraday high of $1,362 an ounce on Wednesday, as weakness in the U.S. dollar spurred demand for the precious metal.

White House rejects foreclosure moratorium The Obama administration rejected calls for a nationwide moratorium on housing foreclosures amid fears that such a move could cripple an already slow recovery of the U.S. housing market.

National / World

New 9/11 Footage Reveals WTC 7 Explosions Paul Joseph Watson | Video clip NIST fought tooth and nail to keep secret contains clear audible booms as eyewitness describes “continuing explosions” from direction of Building 7.

We’re Under Attack: Support Alternative Media in the Infowar Alex Jones & Aaron Dykes | Make no mistake, the Infowar is under attack. The establishment is alerted to the work that Infowarriors everywhere have done. Now, to continue fighting back in full force, we need your help.

Head of Investigator in Falcon Lake Case Delivered to Mexican Military Kurt Nimmo | The murder of Rolando Armando Flores Villegas points to involvement of drug cartel in the slaying of David Michael Hartley.

Ron Paul: Dollar Collapse Will Spur 2012 Presidential Run Paul Joseph Watson | Congressman indicates that worsening financial picture will re-ignite the Revolution.

Jesse Ventura: US should abolish inherently corrupt political parties A dozen years after shocking the nation with an upset win as an Independent candidate in the 1998 Minnesota gubernatorial election, former wrestler Jesse Ventura doesn’t support third parties anymore.

Goldman Sachs Predicts Gold To Hit $1650 Within 12 Months Goldman Sachs expects the dollar to plummet following another round of quantitative easing and has raised its forecast for the gold price to $1,650 per ounce within the next 12 months.

Chicago Reporters Work as Rahm’s Press Thugs; Threaten Radio Host Asking Tough Questions We’ve often said that the media “protects” President Obama but this video from WIND radio host and Big Blogs contributor William Kelly shows this allegation literally.

‘Intl. lobby supports Israel’s crimes’ Former US Congresswoman Cynthia McKinney says a strongly-financed lobby throughout the world has helped Israel violate international law.

Drudgereport: NEW NORMAL: Long Recovery Looks Like a Recession (Depression) ...Fed Mulls Raising Inflation Expectations to Boost Economy... Gold Hits Another Record...Pension protests escalate in France... Sarkozy stands firm...Strikes shut Eiffel Tower...Blankley: The White House Bunker So Soon?

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