Hillary Clinton’s Take on Banks Won’t Hold Up (richcabot)
“Just for viewers at home who may not be reading up on this, Glass-Steagall is the Depression-era banking law repealed in 1999 that prevented commercial banks from engaging in investment banking and insurance activities. Secretary Clinton, he raises a fundamental difference on this stage. Sen. Sanders wants to break up the big Wall Street banks. You don’t. You say charge the banks more, continue to monitor them. Why is your plan better?”
Behind the scenes, key actors were already pushing for Célestin to withdraw from the race, according to the e-mails. Just a day after preliminary results were announced, U.S. Ambassador to Haiti Kenneth Merten wrote to Cheryl Mills, Tom Adams and Daniel Restrepo, all key State Department Haiti staff. “Boulos + private sector have told RP [René Préval] that Célestin should withdraw + they would support RP staying til 7 Feb.” “This is big,” the ambassador added.
Di Mei’s owners are trying to refurbish, but it’s unclear whether it will pay off, and others are just closing down. The Sunlight Store in Beijing, for example, is located in another prime pedestrian hub, but it closed its blinds this month, with manager Ni Guifang telling Reuters they are seeking greener pastures online.
“The sales were just OK, but the overall sales were on the downward trend,” Ni said.
It sure makes one wonder just how credible China’s retail sales “data” are, especially since the government is far less willing to provide official commercial vacancy rates: “As growth in retail sales slows because of the country’s lower GDP growth, and in cities where mall space is abundant, vacancy rates have risen substantially,” said Moody’s analyst Marie Lam in a research note.
China has transformed once submerged reefs in disputed waters in the South China Sea into islands that it claims as its own territory. Because the USS Lassen passed within 12 nautical miles of the man-made islands, the distance international maritime laws define as an island’s sovereign waters, the move essentially demonstrates that the US does not respect these claims.
Where Is All The Gold Going? (Jonathan D.)
We heard for some time that gold is moving to the Far East but is it really only moving there? Well if we start with the US, it certainly is going out. In the first chart, we can observe that at least since 1996 gold has been leaving the US without exception. Even at the top of the gold market when the price crossed briefly $1,900 gold exports exceeded gold imports for the US. However, according to Nick Laird, for the US if you add up their gold mine production it puts them in a net neutral position. So their imports plus production equals their exports; this over the last 18 years.
Last Friday, the Chinese central bank cut interest rates for the sixth time in less than a year, and it again lowered the amount of cash that banks must hold as reserves in a bid to jump start growth in its stuttering economy. Specifically, the PBOC cut its one-year lending and one-year deposit rates by 25 basis points. It also cut the bank reserve requirement ratio by 50 basis points, theoretically freeing up banks to do more lending.
In Wisconsin, prosecutors can use a so called “John Doe” proceeding law to call witnesses, request search warrants and offer immunity without probable cause that a crime has been committed.
The agreement would raise spending by $80 billion over two years, not including a $32 billion increase included in an emergency war fund. Those increases would be offset by cuts in spending on Medicare and Social Security disability benefits, as well as savings or revenue from an array of other programs, including selling oil from the nation’s strategic petroleum reserves. The Medicare savings would come from cuts in payments to doctors and other health care providers.
A Whale of a Legal Tale (richcabot)
In 2007, commercial fisherman John Yates was cited for catching undersized red grouper in federal waters in the Gulf of Mexico. A government inspector had identified 72 red grouper that were under the 20-inch minimum set by law at the time. Those undersized fish were then placed in separate crates on Yates’ ship, and Yates was told not to disturb them before the fish could be seized by the National Marine Fisheries Service—when Yates returned to shore.
The latest effort at mapping ocean acidification comes from research led by the U.S. National Oceanic and Atmospheric Administration and published last week in the science journal “Global Biogeochemical Cycles.” The study tracked the saturation levels of the mineral aragonite, which is crucial to the formation of shells in marine species.
Gold & Silver
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