Eurozone crisis live: IMF 'planning to boost rescue fund to $1tn' 7.35pm: Time for an evening round-up. • The International Monetary Fund faces a tough battle after confirming this afternoon that it is seeking around €500bn in additional funding.
The IMF said it needs the money to address the financial crisis, but the US Treasury has already signalled its opposition to the plan. The Czech Republic also voiced concerns. • David Cameron indicated that the UK could be persuaded to take part. The UK prime minister said Britain would not act alone, and would not be happy to see the IMF rescuing a currency rather than individual countries. .
• Talks resumed in Greece over its debt reduction plan. . • Unemployment has dominated the British political agenda. Max Keiser: Debt slash - a debt hike, collapse guaranteed! Word of the Day: Capital. Word of the Day: Bond Yields. MF Global Clients Accuse J.P. Morgan of Overreach in Bankruptcy. THE HISTORY OF MONEY. World Bank, IMF and WTO. Eurozone: Play by the rules or get out. SEC Enforcers Frozen As Watchdog Turns Pitbull.
The U.S.
Securities and Exchange Commission’s internal watchdog has castigated the agency for missing the Bernard Madoff fraud, spotlighted employees who viewed online pornography and called for a criminal probe into the ethics of the SEC’s former top lawyer. His blunt reports have won Inspector General H. David Kotz admiration on Capitol Hill, where lawmakers summon him to testify about his efforts to improve what they have criticized as flawed management and oversight at the regulator.
At the SEC, it’s a different story. While inspectors general are rarely beloved, a backlash against Kotz among staff and managers has grown in intensity and spread to the legal community outside the agency. “For those who may be unaware of what is going on at the SEC, there is a reign of terror in effect,” Pitt, who has represented several people involved in Kotz’s investigations, wrote to securities lawyers last month in an e-mail obtained by Bloomberg News.
‘Drop of a Hat’ Million Messages 140 Reports.
Are you kidding me Bill Still: Debt-Free Government Issued Money = Sovereignty. Ever Wonder - Key Financial Reports of Federal Government and "other" IRS. Earning Season Kickoff July 2011 Preview America's Financial Doomsday. America's Financial Doomsday An historic, world-changing event is about to crush the U.S. economy and stock market.
It will destroy the income, savings, investments and retirements of millions of Americans. It will plunge vast numbers of families into the nightmare of poverty ... hunger ... and homelessness. Only a minority of investors will survive intact. And some will actually build their wealth in the process. I’m Martin Weiss, founder of Weiss Research. You may know that name because every day, more than 500,000 people get our financial publications. And hundreds of thousands more have used our Weiss Ratings on banks, insurance companies and stocks to help make prudent financial decisions. Stock Basics: Understanding After Hours Earnings SMF Pre Earnings Procedure Training
Nasdaq Composite Index Daily Chart Overbought Bull Cycle Trend Dow Jones Industrial Average Daily Chart Bull Cycle Overbought Earnings Giving Away the Store to Get a Store. If you're imagining an attraction that will draw 4.5 million out-of-town visitors a year, the first thing that jumps to mind probably isn't a store that sells guns and fishing rods and those brown jackets President Bush wears to clear brush at his ranch in Crawford, Texas.
Yet last year Cabela's, a Nebraska-based hunting and fishing mega-store chain with annual sales of $1.7 billion, persuaded the politicians of Fort Worth that bringing the chain to an affluent and growing area north of the city was worth $30 million to $40 million in tax breaks. SLV and Dry Baltic Index lead stocks lower. Scribd. Word of the day: Credit Default Swap. Toxic Assets is The Financial Equivalent of Plutonium with Max Keiser 1/2. Greeks abandon cash resort to bartering. Eric Sprott On The Risks Of Holding Money In Banks And The Likely Future Of Precious Metals.
There aren't a lot of interviews that I'm willing to sit through and hang on every word.
But when Eric Sprott or his partner John Embry of Sprott Physical Gold (PHYS) and Sprott Physical Silver (PSLV) give an interview, I'm all ears. Recently, at the Casey Research/Sprott Summit, When Money Dies, Louis James spoke with Sprott Inc. founder Eric Sprott on the risk involved in holding money in banks, and the likely future of precious metals stocks.
Bank stocks like Bank of America (BAC), Citigroup (C) and Wells Fargo (WFC) have been beaten up badly over the past 6 months, although WFC has not fared as poorly. As the comparative chart below clearly demonstrates, these three bank stocks alone have dropped between 20% and 55% just since the end of July 2011 (less than 3 months ago). Bill Still: Debt-Free Government Issued Money = Sovereignty. Institute for Truth in Accounting. China Has Divested 97 Percent of Its Holdings in U.S. Treasury Bills. President Barack Obama and President Hu Jintao of China toast during the State Dinner in State Dining Room of the White House, Jan. 19, 2011.
(Official White House Photo by Lawrence Jackson) (CNSNews.com) - China has dropped 97 percent of its holdings in U.S. Treasury bills, decreasing its ownership of the short-term U.S. government securities from a peak of $210.4 billion in May 2009 to $5.69 billion in March 2011, the most recent month reported by the U.S. Treasury. WORD OF THE DAY: REPO. Live Gold Price Plus. Bank of America Gets Pad Locked After Homeowner Forecloses On It. Collier County, Florida -- Have you heard the one about a homeowner foreclosing on a bank?
Dinar Intel Update 6/4/11.