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Sunday, 9 February 2014

Feb 8, 2014: News updates

US Treasury introduces ‘extraordinary measures’ as Feb. 27 debt deadline looms

Published time: February 08, 2014 10:55

The US Treasury on Friday was forced to enact ‘emergency measures’ after spending its borrowed time and money. By month’s end, Uncle Sam’s piggy bank will be down to just $50 billion, US Treasury Secretary Jacob Lew warned Congress....

...Under the budget agreement passed by Congress in October, the debt limit was suspended on February 7. Beginning on Saturday, the debt limit goes back to its current level of $17.2 trillion.

In the event that Congress fails to agree on that amount by February 27, the US government will be forced to default on its debt obligations, a move that would have no small impact on global markets.

Prepare for riots in euro collapse, Foreign Office warns

Feb 8 2014- British embassies in the eurozone have been told to draw up plans to help British expats through the collapse of the single currency, amid new fears for Italy and Spain.

New controls in place, Ukraine tries to dampen currency fear

By Natalia Zinets February 7, 2014 9:37 AM
    Ukraine's currency reserves fall to $17.8 billion due to debt repayments, intervention - central bank Reuters
KIEV (Reuters) - Ukraine's central bank tried to dampen fears about its currency on Friday after imposing new capital controls to bolster the hryvnia that banks said were likely to cripple trade and lead to a currency black market.

Exclusive: UBS seeks first-mover immunity in U.S. currency probe - sources

ReutersReuters – Fri, 7 Feb, 2014 4:12 PM EST
LONDON (Reuters) - Swiss bank UBS AG (VTX:UBSN.VX - News) approached U.S. authorities in September with information relating to an industry-wide probe into alleged rigging of currency markets, in the hope of gaining antitrust immunity if charged with wrongdoing, sources familiar with the matter told Reuters.

UBS is seeking to take advantage of a program from the Justice Department's antitrust division under which the first company to report misconduct relating to a cartel can earn immunity from antitrust charges if it cooperates and provides information about other members of the group, three sources said.;_ylt=ApBcT1TOR8TWBPYdbkaH2jdxzJpG;_ylu=X3oDMTEzZ2FpZzY0BG1pdAMEcG9zAzI5BHNlYwNNZWRpYU1vc2FpY0xpc3RMUENB;_ylg=X3oDMTBhdnVpNmo3BGxhbmcDZW4tQ0E-;_ylv=3

Apple Buys Back $14 Billion of Its Shares in Two Weeks

By REUTERSFEB. 7, 2014
Apple has repurchased $14 billion of its stock in the two weeks since it reported disappointing first-quarter results, a company spokesman said.

Apple bought $12 billion of shares through an accelerated share repurchase program and $2 billion of shares from the open market, the spokesman said. An accelerated share repurchase usually involves a company buying its

 Mt. Gox Bitcoin Bank Run Intensifies, 1 Million Customers at Risk

 - February 7, 2014 1:04 PM
Exchange is refusing to give customers their money, CEO is at large, and company faces "significant losses"

Early Friday morning Tokyo, Japan-based Bitcoin exchange Mt. Gox froze customers accounts, refusing to give customers their money back.  Customers were still allowed to trade the Bitcoins in their accounts for other currencies, Mt. Gox's primary function.

Eric Sprott interview

Eric King:  “Eric, what about the looting of GLD in 2013?  Obviously we are not seeing that so far in 2014.  What does that mean for 2014?”
Sprott:  “Well, Eric, in fact we’ve had a couple of days when gold has (actually) gone into GLD.  We are talking about 900 tons of gold that came out of the various ETFs (in 2013)....
...Sprott added: “I really believe that the decline last year was orchestrated because the (Western) central banks have run out of gold.  To think that the US Treasury, which theoretically had 8,000 tons of gold, could only deliver 5 tons to Germany (laughter ensues).  The dots you can connect are so obvious that there is no gold there (in US vaults).  You would think they could have done a hell of a lot better than that (delivering only 5 tons), but they couldn’t.  So I think we will see a lot more spirited buying of GLD, and it’s impact on the physical market could be very dramatic.”

4th Financial Services Executive Found Dead; "From Self-Inflicted Nail-Gun Wounds"

 02/07/2014 17:02 -

The ugly rash of financial services executive suicides appears to have spread once again. Following the jumping deaths of 2 London bankers and a former-Fed economist in the US, The Denver Post reports Richard Talley, founder and CEO of American Title, was found dead in his home from self-inflicted wounds - from a nail-gun. Talley's company was under investigation from insurance regulators.

Danske Bank locks 10,000 customers out of their accounts

Just 72 hours to withdraw funds from cash machines
 Saturday 8 February 2014

 THOUSANDS of customers of Danske Bank are set to be denied access to their money after the bank said it was closing their current accounts from today.
The bank has confirmed that 15,000 current accounts are to be "terminated" and the majority of customers who hold these accounts have yet to shut them down and switch to a new one.Up to 10,000 people could find their funds frozen as they have failed to set up a new account with another bank....

European Parliament backs prison terms for market fraudsters

The European Parliament has given the green light for seriously cracking down on market manipulation and insider dealing. Rogue traders could soon be handed prison terms rather than just being fined.

UK immigration minister resigns over undocumented cleaner

By Bharati Naik, CNN
February 8, 2014 -- Updated 1727 GMT (0127 HKT)

London (CNN) -- British Immigration Minister Mark Harper has stepped down from his post after admitting that for several years he employed a cleaner who was an undocumented immigrant.

 Argentina Probes Deutsche Bank’s Dismissal of Trader

By Charlie Devereux and Pablo Gonzalez Feb 7, 2014 6:42 PM GMT+0100

Argentina’s central bank is investigating the dismissal of a Deutsche Bank AG (DBK) currency trader to determine whether it was linked to a warehouse fire that destroyed industry documents this week in Buenos Aires.

German Commerzbank offloads Spanish property loans

 Fury as Tory party donors are handed NHS contracts worth £1.5BILLION under health reforms

Feb 08, 2014 00:00

Shadow Health Secretary Andy Burnham uncovered the links between private health firms and prominent Conservative supporters
Private health care firms with Tory links have been awarded NHS contracts worth nearly £1.5billion.
Circle Health landed £1.36billion worth of health service work after several ­of its investors gifted about £1.5million to the Conservatives.

ZimDollar return inevitable: Biti

MDC-T shadow minister of finance Tendai Biti on Tuesday said the unpopular Zimbabwean dollar will inevitably come back whether the Zanu PF government likes it or not.

“We cannot print the US dollar, our currency printing press is not working and it will work sooner rather than later,” Biti told reporters at his party's Harvest House head office in Harare.

ECB's Visco tells Italy's banks to be 'ambitious' in purging bad debts

ReutersBy Gavin Jones | Reuters – 9 hours ago

ROME (Reuters) - Bank of Italy Governor Ignazio Visco on Saturday backed moves by some of the country's lenders to get rid of non-performing loans on their books and suggested they could consider "more ambitious" approaches.

Burkina Faso gold exports to rise to 35 T in 2014 - minister

ReutersReuters – 13 hours ago
OUAGADOUGOU (Reuters) - Burkina Faso plans to boost gold exports to 35 tonnes in 2014 from 32 tonnes last year on the back of plans to expand two existing sites, the mines minister said.

Gold leapfrogged cotton to become the landlocked West African country's main export in 2009 and now accounts for roughly 20 percent of GDP.

US tests B61 Atomic Bomb- fire later that night at labs

ACLU Seeks Information on FBI’s Secretive “Port Readers”

On Wednesday the American Civil Liberties Union filed a Freedom of Information Act request with the Federal Bureau of Investigations in an effort to find out details on a little known tool the Bureau uses to assist the National Security Agency in gathering data about Americans.

The tool, known as “port readers”, are capable of copying emails and instant messages in real time. The tool is supposed to delete the contents of the emails and leave only the “metadata” for the government.

 Massive Ga. blaze is contained but still burning

Associated Press
Posted: Saturday, Feb. 08, 2014
SAVANNAH, Ga. Firefighters battled a giant blaze fueled by 5,600 tons of rubber Saturday at the Port of Savannah, where a towering column of black smoke could be seen from miles away.
By late Saturday, the fire department said its crews had contained the fire, but it could take a while for the flames to burn out inside a warehouse covering 226,000 square feet at the port's Ocean Terminal just west of downtown Savannah.

Friday, February 7, 2014

Axa Banque - U.S. Person Account Closures in France

It's official, Axa Banque sent letters out recently to their U.S. Person clients informing them that they are no longer welcome chez eux and giving them very little time to find alternatives.

Florida Ordinance Makes It Illegal For Homeless To Use Blankets

Read more at TLR: Florida Ordinance Makes It Illegal For Homeless To Use Blankets | The Libertarian Republic

Corbett report

 Bankster Suicides and Bank Run talk