IMF Gold Sales Ineffective At Suppresing Price

September 1, 2010

   There was a time in the gold market that the rumor of a large sale by the IMF would send the price plummeting. But times have changed. The IMF announced that it has been an active seller of gold over the last month, selling 17 metric …

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Market Wrap-Up for Sept.1 (BHP, FCX, COH, BKC, CLF, BEN, more)

September 1, 2010

It was great to hear last night that U.S. troops will soon be leaving Iraq and rejoining their families back at home. President Obama’s message is about the country fixing what is broken here (the economy) and spending more resources to do just that. Let’s hope this comes with a push for new jobs that come from the corporate world as a result of new innovations. We need new industries to bring some manufacturing back to the states, as well. Following the initial euphoria of the troops coming home comes the reality of the lack of jobs once they’re back on U.S. soil. Our soldiers will be joining millions of other Americans that are currently jobless and are scrambling to provide for themselves and their families. Let’s hope Washington has a plan, and that the decision we made in Iraq wasn’t just aimed at feeling good in front of the November elections. Looking at today’s action, the buying was definitely in the high-beta names that have been the leaders of late, i.e. the commodity space. BHP Billiton ( BHP ) , Freeport McMoran ( FCX ) , and Cliffs Natural Resources ( CLF ) all paced the gains. We also saw names like Coach ( COH ) and Franklin Resources ( BEN ) pushing higher as well. Burger King ( BKC ) was up this morning on rumors of a private equity takeover of the company.

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What’s Bad for Bernanke Is Worse for You

September 1, 2010

Bad day for stocks, Monday. A bad day. Not a terrible day. Not a crash day. Just a bad day. The Dow fell 140 points. This was baaaad…because it shows that the stock market does not really buy Bernanke’s storyline. You’ll recall that when we left off last week, Ben Bernanke assured the world that while the recovery was not exactly what he had hoped for, he nevertheless had the situation in hand. He said he had the tools necessary to fix the problem and would do whatever was required. The initial reaction was positive. The Dow rose more than 160 points on Friday. Some analysts thought the market’s downward trend had been broken. But it needed follow-through on Monday. Instead, the market fell. The fact is, there is no recovery…and no recovery is possible…and investors are beginning to realize it. Then what is going on? A “Great Recession,” say some analysts. A “depression,” say others. There is a good article in The Financial Times that helps understand what is really going on. It’s by Ken Rogoff and Carmen Reinhart; you’ve heard of them before, dear reader. They are the ones who researched dozens of episodes of financial crisis and sovereign default throughout history. Today, they write in the FT about what happens after a financial crisis. Well, what do you think? Do you think you get a “recovery”? Do things go back to normal? Is the recession over quickly and painlessly? Not at all. Instead, there is rarely anything you would…

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Discovery HQ near Washington evacuated on reports of armed man; gunfire

September 1, 2010

The Discovery Channel building in Silver Spring, Md., has been evacuated because of reports of an armed man on the premises, CNN reports.

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Demos Think Tank Responds to Outrage over Publication

September 1, 2010

Recently Demos released a publication that called for infiltrating so called conspiracy theory websites in order to discredit them. Multiple alternative news sites dubbed the authors, The United Kingdoms Cass Sunstein.

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The Real Story – Pre 9/11 History

September 1, 2010

Because it’s 11 days before the 9 year anniversary of the “False Flag” attack known as 9/11 here is some Pre-9/11 History for those who still believe the official lie. The Real Story

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Obama could kill fossil fuels overnight with a nuclear dash for thorium

September 1, 2010

If Barack Obama were to marshal America’s vast scientific and strategic resources behind a new Manhattan Project, he might reasonably hope to reinvent the global energy landscape and sketch an end to our dependence on fossil fuels within three to five years. Dr Rubbia says a tonne of the silvery metal – named after the Norse god of thunder, who also gave us Thor’s day or Thursday – produces as much energy as 200 tonnes of uranium, or 3,500,000 tonnes of coal. A mere fistful would light London for a week. Thorium eats its own hazardous waste. It can even scavenge the plutonium left by uranium reactors, acting as an eco-cleaner. “It’s the Big One,” said Kirk Sorensen, a former NASA rocket engineer and now chief nuclear technologist at Teledyne Brown Engineering. “Once you start looking more closely, it blows your mind away. You can run civilisation on thorium for hundreds of thousands of years, and it’s essentially free. You don’t have to deal with uranium cartels,” he said.

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Death By Globalism

September 1, 2010

Paul Craig Roberts | The Federal Reserve will monetize the federal government deficit. The result will be high inflation, possibly hyper-inflation and high unemployment simultaneously.

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Car Accident Checklist to Avoid Financial Pains Later

September 1, 2010

It’s an unfortunate thing to think about, but more often not, people are not in any stable state of mind immediately following a car accident. Everyone should keep a list of what to do if you are unfortunately involved in any sort of car accident. Here are the key things you will need to get to avoid any complications with your insurance company. – Keep your auto insurance information in the glove compartment, including a pre-printed form or plain piece of paper allowing you to provide the particulars of any accident. – It is important to limit your discussion of the accident and not to admit any fault or liability. You should talk about the accident with the police and your insurance agent only. – Wait for the police to come and be sure you have the name of the officer(s) and that they have your version of what happened. – Exchange names, addresses, driver’s license and insurance information with the driver of the other car. – Call your agent or insurance company’s 800-number immediately, even at the scene with the police if possible. Sometimes the police officer can give your insurance company more accurate information rather than information you may not be recording properly because you are upset by the accident. – Take pictures of all vehicles involved (today’s version of cell phones are equipped with built-in cameras fortunately). – Review your policy to make sure you’re getting everything you’ve paid for. If you don’t understand any part of your policy or claim, call your insurance company for a thorough explanation. You may be entitled to a loaner car if your car is undriveable. – Insurance companies often try to give you estimates of losses that are lower than your actual losses. Don’t accept their estimates without getting some estimates of your own. Keep this list of things to do handy and make sure all the drivers in your family understand them clearly. Auto accidents take a tremendous toll on everyone emotionally and of course financially. Limit the mistakes you may make so that you won’t get hit too hard in the pocket afterwords. Paul Rubillo is the founder and CEO of Dividend.com. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Jim Rogers: "They are printing too much money…"

September 1, 2010

Here’s the latest word from legendary investor Jim Rogers. As usual Jim is as bearish as ever and long commodities….. However, that is not to say Rogers is loading up on the short side. In fact, Jim says: “They’re printing so much money that I would not be short. I have no shorts. In most of my life, I’ve always had a short of 2, or 3, or 16… because I’m afraid they’re printing so much money that stocks will go to 20,000 or 30,000. Of course it will be in worthless money, but it could happen,” Roll the tape…. Great stuff, Mr. Rogers. But seriously, the Dow could go to 30K?? Related Articles: Jim Rogers on Gold, the Dollar, and Inflation Jim Rogers Warns the Dollar Faces a “currency crisis” Jim Rogers: “This is not going to solve the problem” To learn more about Wealth Daily click here Jim Rogers: “They are printing too much money…” originally appeared in Wealth Daily . Wealth Daily is a free daily newsletter featuring contrarian investment insights and commentary.

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Warren Wants Wesco

September 1, 2010

Warren Buffett wants to own all of Wesco Financial (WSC). He is looking to make Wesco a wholly owned subsidiary of the legendary Berkshire Hathaway. Buffett’s company Berkshire Hathaway already owns over 80% of Wesco and is looking to buy the remainder of the company. So, why is Berkshire interested in buying the remaining 19.9% of Wesco? 1.

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Aussie GDP Prints Strong

September 1, 2010

Front and center this morning, Australia printed a moon-shot second quarter GDP report, that has the risk aversion campers running for cover this morning. All currencies, except the risk aversion currencies of dollar, yen (JPY) and francs (CHF), are getting sold, and the Aussie dollar (AUD) has gained 1 1/2-cents! So, since the Aussie GDP Aussie GDP Prints Strong originally appeared in the Daily Reckoning . The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today’s markets. Its been called “the most entertaining read of the day.”

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