For immediate release
The Federal Reserve Board announced Friday that a temporary exemption to the limitations in section 23A of the Federal Reserve Act, instituted as part of the response to the financial crisis, will expire as scheduled on October 30, 2009.
The exemption, which was subject to various conditions to promote safety and soundness, allowed all insured depository institutions to provide liquidity to their affiliates for assets typically funded in the tri-party repo market. It was originally approved on September 14, 2008, and was extended on January 30, 2009.
Since the approval of the extension in January, the functioning of the tri-party repo market has improved considerably.
For immediate release
The Federal Reserve Board announced Friday that a temporary exemption to the limitations in section 23A of the Federal Reserve Act, instituted as part of the response to the financial crisis, will expire as scheduled on October 30, 2009.
The exemption, which was subject to various conditions to promote safety and soundness, allowed all insured depository institutions to provide liquidity to their affiliates for assets typically funded in the tri-party repo market. It was originally approved on September 14, 2008, and was extended on January 30, 2009.
Since the approval of the extension in January, the functioning of the tri-party repo market has improved considerably.
Bolivia fears collapse at Potosi, limits mining
LA PAZ, Oct 20 (Reuters) - Bolivia's government has banned thousands of independent miners and U.S.-based Coeur d'Alene from mining silver in part of the legendary Cerro Rico mine because officials fear it could collapse, the deputy mines minister said on Tuesday.
Freelance miners, who scrape out a living by extracting mineral ore from the mountain, are likely to protest against the ban, while Coeur d'Alene said the decision would not affect its operations.
Cerro Rico (Rich Mountain), which lies in the central Potosi region, has come to symbolize a colonial past where thousands of Inca slaves died mining silver for the Spanish conquistadors.
Five centuries of mining have turned the mountain's cone into a sponge of flimsy tunnels that threaten to cave in, prompting officials to ban mining at the peak.
"The board of directors of (state-run mining company) Comibol has issued a resolution suspending mining operations above 14,400 feet (4,400 meters) to preserve the morphological shape of the Cerro Rico," Deputy Mining Minister Gerardo Coro told reporters.
According to the government, there are nearly 200 mine shafts into the mountain, which rises to some 15,400 feet (4,700 meters).
The ban will remain in place for the six months the government says it needs to assess the risk of collapse, but it could be extended depending on the study's findings.
A spokesman for U.S. miner Coeur d'Alene, which operates the San Bartolome mine at Cerro Rico, said the government measure would not affect its operations.
"The recent public notice by COMIBOL regarding a request to (Coeur's local subsidiary) Manquiri and the cooperatives to temporarily halt mining above 4,400 meters on Cerro Rico does not impact our current operations," the spokesman said.
San Bartolome is the world's largest pure silver mine. In 2009, its first full year of production, it is expected to produce ap proximately 9 million ounces of silver. It mainly extracts silver ore from gravel deposits at the base of the mountain.
Thousands of ill-equipped, independent miners extract ore from Cerro Rico every day, and conditions have not changed much since Spanish conquerors brought slaves there 500 years ago.
Cerro Rico's vast reserves turned the nearby city of Potosi into the most populous in the Americas in the 17th century, with some 120,000 inhabitants -- more than London, Paris or Madrid at the time. (Reporting by Carlos Quiroga; Writing by Eduardo Garcia; Editing by Christian Wiessner)
Goldman Sachs in Talks to Acquire Treasury Department
Sister Entities to Share Employees, Money
In what some on Wall Street are calling the biggest blockbuster deal in
the history of the financial sector, Goldman Sachs confirmed today that
it was in talks to acquire the U.S. Department of the Treasury.
According to Goldman spokesperson Jonathan Hestron, the merger between
Goldman and the Treasury Department is "a good fit" because "they're in
the business of printing money and so are we."
The Goldman spokesman said that the merger would create efficiencies for
both entities: "We already have so many employees and so much money
flowing back and forth, this would just streamline things."
Mr. Hestron said the only challenge facing Goldman in completing the
merger "is trying to figure out which parts of the Treasury Dept. we
don't already own."
Goldman recently celebrated record earnings by roasting a suckling pig
over a bonfire of hundred-dollar bills.
Elsewhere, conspiracy theorists celebrated the 40th anniversary of NASA
faking the moon landing.
And in South Carolina, Gov. Mark Sanford gave his wife a new diamond
ring, while his wife gave him an electronic ankle bracelet.
"His response was that all market action is RANDOM movement and therefore people should just buy and hold."
I think that slogan should be changed to "buy and hope" not buy and hold and I truly hope people have awoken to the realization that this model is dead and gone for the foreseeable future if not forever IMHO.
FOMC Minutes - A Few Clues
October 14, 2009
U.S. Federal Reserve Meeting Minutes For September 23
Good and bad news mixed in, but no surprises.
(RED = Negative Views on Economy Green = Positive Views on Economy)
Fed Members Said Employment Conditions `Remained Weak’
FOMC Members Said Financial Markets `Broadly Positive’
FOMC Members Said Housing Activity Rising, Prices Stabilized
Fed Members Said Unemployment Unlikely To Fall `Appreciably’
Fed Members Expressed Uncertainty On Outlook Without Govt Aid
Many FOMC Members Said Consumers Likely To Remain Cautious
Most FOMC Members Saw `Substantial’ Labor Slack In Coming Years
Many FOMC Members Raised Economic Projections For Second Half
Most FOMC Members Thought An Economic Recovery Was Underway
Many FOMC Members Said Recovery Likely To Be `Quite Restrained’
FOMC: Overall Economic Activity Beginning To Pick Up
FOMC Says Gradual Housing Sector Recovery Underway
FOMC Discussed Need For Flexibility On Size Of Asset Purchases
Some FOMC Members Favored Increasing Limit To MBS Purchases
Fed Economists Saw Core Inflation Slowing Over Next Two Years
Fed Economists Saw Unemployment Declining To 8% By End Of 2011
Fed Economists Saw Unemployment Falling To 9.25% By End Of 2010
A Few On FOMC Wanted To Slow Asset Purchases Over Longer Period
Fed: Some FOMC Members Wanted To Taper Asset Purchases Quickly
Vad, hopefully the public are waking up to the fact that those targets don't mean anything. I thought about it on Friday watching the price action on RIMM - perfect case and point. The analyst upgrades the stock that morning and all the sheople pile in and by the end of the day the price closed lower than it opened and well off its high for the day. Great for us traders but for the people who actually believe this BS - well sorry about their luck. Happy Thanksgiving to all my fellow Canadians and happy Columbus day to my American friends.
Not sure whether or not this has been posted previously. It was passed along to me by one of my American friends in Florida. Grym I think your post is well founded re: the many failed promises by Obama.
You've got to take 2 minutes to watch this comparison between
George Bush's visit to the Marines vs. Obama's
recent trip. It is incredible. There is word this will be
removed from You Tube so go now. Pass it around quickly.
Try to get this to people as it may not last long on you
tube. OH it is so good ....
Subject: Two Presidents Meet the Marines.
The Marines Show You How They Feel.... There's a 'message' in this video.
You might want to view it ASAP as it's not
likely to last very long on YouTube
Obama said "what’s needed is a change in Wall Street compensation so long-term performance rather than short-term profit is rewarded." Good luck trying to talk HB&B into that scenario.
- EnCana Corp said on Thursday it was rekindling a plan to split into a natural gas producer and an integrated oil firm less than a year after the financial crisis forced it to defer the move.
Here are some details of the two companies that will emerge from the split -- Cenovus, the oil sands company, and EnCana, the unconventional gas producer. Forecast 2009 North American Production (after royalties)
Cenovus EnCana Natural gas (mmcfd) 820 2,815 Oil and NGLs (bpd) 111,000 27,000 Total (mmcfe/d) 1,490 2,975 Total (boed) 248,000 496,000 Proved Reserves (year-end 2008) Natural gas (bcf) 1,855 11,822 Oil and NGLs (mln bbls) 909 97 Total (Bcfe) 7,309 12,402 Total (mln boe) 1,218 2,067 Land (year-end 2008, millions of net acres) Developed 4.5 5.O Undeveloped 3.6 10.6 Total 8.1 15.6 Forecast 2009 Operating cash flow (billions)
Ruled unconstitutional....... pulllleeeeeze
http://stockcharts.com/h-sc/ui?s=GS&p=5&yr=0&mn=0&... good observation Davefairtex.....of course if confronted they will deny they had any insider information you just know it.
Press Release
Release Date: October 30, 2009
For immediate release
The Federal Reserve Board announced Friday that a temporary exemption to the limitations in section 23A of the Federal Reserve Act, instituted as part of the response to the financial crisis, will expire as scheduled on October 30, 2009.
The exemption, which was subject to various conditions to promote safety and soundness, allowed all insured depository institutions to provide liquidity to their affiliates for assets typically funded in the tri-party repo market. It was originally approved on September 14, 2008, and was extended on January 30, 2009.
Since the approval of the extension in January, the functioning of the tri-party repo market has improved considerably.
2009 Banking and Consumer Regulatory Policy
Press Release
Release Date: October 30, 2009
For immediate release
The Federal Reserve Board announced Friday that a temporary exemption to the limitations in section 23A of the Federal Reserve Act, instituted as part of the response to the financial crisis, will expire as scheduled on October 30, 2009.
The exemption, which was subject to various conditions to promote safety and soundness, allowed all insured depository institutions to provide liquidity to their affiliates for assets typically funded in the tri-party repo market. It was originally approved on September 14, 2008, and was extended on January 30, 2009.
Since the approval of the extension in January, the functioning of the tri-party repo market has improved considerably.
2009 Banking and Consumer Regulatory Policy
http://news.yahoo.com/s/ap/20091030/ap_on_bi_ge/us...
Bolivia fears collapse at Potosi, limits mining
LA PAZ, Oct 20 (Reuters) - Bolivia's government has banned thousands of independent miners and U.S.-based Coeur d'Alene from mining silver in part of the legendary Cerro Rico mine because officials fear it could collapse, the deputy mines minister said on Tuesday.
Freelance miners, who scrape out a living by extracting mineral ore from the mountain, are likely to protest against the ban, while Coeur d'Alene said the decision would not affect its operations.
Cerro Rico (Rich Mountain), which lies in the central Potosi region, has come to symbolize a colonial past where thousands of Inca slaves died mining silver for the Spanish conquistadors.
Five centuries of mining have turned the mountain's cone into a sponge of flimsy tunnels that threaten to cave in, prompting officials to ban mining at the peak.
"The board of directors of (state-run mining company) Comibol has issued a resolution suspending mining operations above 14,400 feet (4,400 meters) to preserve the morphological shape of the Cerro Rico," Deputy Mining Minister Gerardo Coro told reporters.
According to the government, there are nearly 200 mine shafts into the mountain, which rises to some 15,400 feet (4,700 meters).
The ban will remain in place for the six months the government says it needs to assess the risk of collapse, but it could be extended depending on the study's findings.
A spokesman for U.S. miner Coeur d'Alene, which operates the San Bartolome mine at Cerro Rico, said the government measure would not affect its operations.
"The recent public notice by COMIBOL regarding a request to (Coeur's local subsidiary) Manquiri and the cooperatives to temporarily halt mining above 4,400 meters on Cerro Rico does not impact our current operations," the spokesman said.
San Bartolome is the world's largest pure silver mine. In 2009, its first full year of production, it is expected to produce ap proximately 9 million ounces of silver. It mainly extracts silver ore from gravel deposits at the base of the mountain.
Thousands of ill-equipped, independent miners extract ore from Cerro Rico every day, and conditions have not changed much since Spanish conquerors brought slaves there 500 years ago.
Cerro Rico's vast reserves turned the nearby city of Potosi into the most populous in the Americas in the 17th century, with some 120,000 inhabitants -- more than London, Paris or Madrid at the time. (Reporting by Carlos Quiroga; Writing by Eduardo Garcia; Editing by Christian Wiessner)
Goldman Sachs in Talks to Acquire Treasury Department
Sister Entities to Share Employees, Money
In what some on Wall Street are calling the biggest blockbuster deal in
the history of the financial sector, Goldman Sachs confirmed today that
it was in talks to acquire the U.S. Department of the Treasury.
According to Goldman spokesperson Jonathan Hestron, the merger between
Goldman and the Treasury Department is "a good fit" because "they're in
the business of printing money and so are we."
The Goldman spokesman said that the merger would create efficiencies for
both entities: "We already have so many employees and so much money
flowing back and forth, this would just streamline things."
Mr. Hestron said the only challenge facing Goldman in completing the
merger "is trying to figure out which parts of the Treasury Dept. we
don't already own."
Goldman recently celebrated record earnings by roasting a suckling pig
over a bonfire of hundred-dollar bills.
Elsewhere, conspiracy theorists celebrated the 40th anniversary of NASA
faking the moon landing.
And in South Carolina, Gov. Mark Sanford gave his wife a new diamond
ring, while his wife gave him an electronic ankle bracelet.
"His response was that all market action is RANDOM movement and therefore people should just buy and hold."
I think that slogan should be changed to "buy and hope" not buy and hold and I truly hope people have awoken to the realization that this model is dead and gone for the foreseeable future if not forever IMHO.
http://www.youtube.com/watch?v=-LkusicUL2s
http://www.bloomberg.com/apps/news?pid=20601087&si...
FOMC Minutes - A Few Clues
October 14, 2009
U.S. Federal Reserve Meeting Minutes For September 23
Good and bad news mixed in, but no surprises.
(RED = Negative Views on Economy Green = Positive Views on Economy)
Fed Members Said Employment Conditions `Remained Weak’
FOMC Members Said Financial Markets `Broadly Positive’
FOMC Members Said Housing Activity Rising, Prices Stabilized
Fed Members Said Unemployment Unlikely To Fall `Appreciably’
Fed Members Expressed Uncertainty On Outlook Without Govt Aid
Many FOMC Members Said Consumers Likely To Remain Cautious
Most FOMC Members Saw `Substantial’ Labor Slack In Coming Years
Many FOMC Members Raised Economic Projections For Second Half
Most FOMC Members Thought An Economic Recovery Was Underway
Many FOMC Members Said Recovery Likely To Be `Quite Restrained’
FOMC: Overall Economic Activity Beginning To Pick Up
FOMC Says Gradual Housing Sector Recovery Underway
FOMC Discussed Need For Flexibility On Size Of Asset Purchases
Some FOMC Members Favored Increasing Limit To MBS Purchases
Fed Economists Saw Core Inflation Slowing Over Next Two Years
Fed Economists Saw Unemployment Declining To 8% By End Of 2011
Fed Economists Saw Unemployment Falling To 9.25% By End Of 2010
A Few On FOMC Wanted To Slow Asset Purchases Over Longer Period
Fed: Some FOMC Members Wanted To Taper Asset Purchases Quickly
Vad, hopefully the public are waking up to the fact that those targets don't mean anything. I thought about it on Friday watching the price action on RIMM - perfect case and point. The analyst upgrades the stock that morning and all the sheople pile in and by the end of the day the price closed lower than it opened and well off its high for the day. Great for us traders but for the people who actually believe this BS - well sorry about their luck. Happy Thanksgiving to all my fellow Canadians and happy Columbus day to my American friends.
Not sure whether or not this has been posted previously. It was passed along to me by one of my American friends in Florida. Grym I think your post is well founded re: the many failed promises by Obama.
You've got to take 2 minutes to watch this comparison between
George Bush's visit to the Marines vs. Obama's
recent trip. It is incredible. There is word this will be
removed from You Tube so go now. Pass it around quickly.
Try to get this to people as it may not last long on you
tube. OH it is so good ....
Subject: Two Presidents Meet the Marines.
The Marines Show You How They Feel.... There's a 'message' in this video.
You might want to view it ASAP as it's not
likely to last very long on YouTube
http://www.youtube.com/watch?v=xIHz5tevLAw
http://www.youtube.com/watch?v=_UXomMnQKT4
That makes a few of us - sitting on nice 200 week support here
Obama said "what’s needed is a change in Wall Street compensation so long-term performance rather than short-term profit is rewarded." Good luck trying to talk HB&B into that scenario.
http://www.bloomberg.com/apps/news?pid=20601087&si...
http://news.goldseek.com/GoldSeek/1252609733.php
- EnCana Corp said on Thursday it was rekindling a plan to split into a natural gas producer and an integrated oil firm less than a year after the financial crisis forced it to defer the move.
Here are some details of the two companies that will emerge from the split -- Cenovus, the oil sands company, and EnCana, the unconventional gas producer. Forecast 2009 North American Production (after royalties)
Cenovus EnCana Natural gas (mmcfd) 820 2,815 Oil and NGLs (bpd) 111,000 27,000 Total (mmcfe/d) 1,490 2,975 Total (boed) 248,000 496,000 Proved Reserves (year-end 2008) Natural gas (bcf) 1,855 11,822 Oil and NGLs (mln bbls) 909 97 Total (Bcfe) 7,309 12,402 Total (mln boe) 1,218 2,067 Land (year-end 2008, millions of net acres) Developed 4.5 5.O Undeveloped 3.6 10.6 Total 8.1 15.6 Forecast 2009 Operating cash flow (billions)
I think it may have everything to do with the contango spread in nat gas
Totally agree.......TEAM approach - acronym for Together Everyone Achieves More :)