Thursday, January 17, 2013

It Will Take The Fed Seven Years To Deliver 300 Tons Of German Gold

ZeroHedge.com ^ | 1-16-2013 | Tyler Durden

....The biggest news of the day comes from the official Buba announcement that, in its official capacity as a prudent central bank, it - as first of many - is looking to repatriate some 300 tons of gold from the New York Fed. That, however, is not today's news - that was Monday's news.
What is news is that courtesy of the supplied calendar of events in the Buba statement, it will take the Fed some seven years to procure Germany's 300 tons of gold. This is the same Fed that, in its own words, holds some "216 million troy ounces of gold" or some 6720 tons, in its vault 80 feet below ground level.
Putting the above in perspective, the amount of gold that Germany will have to wait 7 years for is shown in red. The amount of gold the Fed supposedly holds, is shown in yellow with a shade of tungsten. Why it will take the Fed 7 years to part with an amount of gold that is less than 5% of its total holdings is anyone's guess...
unless of course, the bulk of the gold in the column on the right has been rehypothecated numerous times to serve as collateral for countless counterparties, and it is no longer clear just who own what to anyone.

* * *
We can only wonder how many centuries it will take the New York Fed to deliver all the gold held by third parties in its vault, once the demand notices start rushing in...

Y'all come to Texas, state official tells New York gun owners!

Reuters ^ | 17Jan13 | Jim Forsyth

(Reuters) - Texas Attorney General Greg Abbott has a message for New York gun owners: Come to Texas, and bring your guns with you.

"Texas is better than New York, and New York just gave us another excuse to say that," Abbott, a Republican, said on Thursday, after ads extolling Texas appeared on several media websites.

(Excerpt) Read more at reuters.com ...

Texas: A Model State For Dynamic Job And Economic Growth!

IBD ^ | 01/17/2013 | WENDELL COX

The American economy has had little to cheer about since the 2008 financial meltdown and the resulting recession. Recovery has been feeble, and many states continue to struggle. One bright spot in the general gloom, however, is Texas, which began shining long before 2008.
Not only has Texas created jobs at a stunning rate; it has also — pace critics such as the New York Times' Paul Krugman — created lots of good jobs. Indeed, the rest of the nation could turn to the Lone Star State as a model for dynamic growth.
Texan job creation has far outpaced the national average. The number of jobs in Texas has grown by a truly impressive 31.5% since 1995, compared with just 12% nationwide, according to Bureau of Labor Statistics data. Texas has also lapped California, an important economic rival and the only state with a larger population.
The Texas employment situation after the financial crisis was far less spectacular, of course, with the number of jobs growing just 2.4% from 2009 through 2011. But that was still six times the anemic 0.4% growth rate of the overall American economy.
The National Establishment Time-Series (NETS) Database, which provides detailed information on job creation and loss for firms headquartered in each state, can tell us more about Texas' employment growth. NETS data are divided into two periods — the first from 1995 to 2002, the second from 2002 to 2009.
During the 2002—09 period, small businesses of fewer than 10 employees were the Texas employment engine, adding nearly 800,000 new jobs; of those, about three-quarters were in firms with two to nine employees.
Larger Texas companies — those with 500 or more employees — lost a significant number of jobs over this span, and medium-size firms likewise shrank,
(Excerpt) Read more at news.investors.com ...

Pro-Obamacare group sponsoring symposium to train journalists how to report on Obamacare

The Daily Caller ^ | 1/17/13 | Patrick Howley

A private organization that “helped lay the groundwork” for Obamacare is hosting a symposium to “offer specialized education in health care reporting” for mainstream reporters from outlets including Reuters and Money magazine.
As reported by Rusty Weiss for FreedomWorks, the Commonwealth Fund is sponsoring a two-day symposium, hosted by the Society of American Business Editors and Writers (SABEW) entitled “The Business of Health Care” at Reuters headquarters in New York City. The symposium will “offer specialized education in health care reporting” and “boost knowledge of the Affordable Care Act.”
“The goal over two days will be to introduce fellows to experts in the field and explore ways to improve coverage of the issue,” according to an announcement on the SABEW website. Former Obama administration official Sherry Glied will address the reporters as a speaker at the event.
(Excerpt) Read more at dailycaller.com ...

Rape Kits

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If...

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Crime

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Idiotic Laughter

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Spending Ceiling?

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You've Fallen and You Won't Get Up!

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Bluffing

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Makes Perfect Sense

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Money Saved

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Showdown!

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Newsfluenza

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Distracted?

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Two Things

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Your Gun

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Enjoy the band!

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JOBS

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Balls

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Influence

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Capacity

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