Ace Breaking News- Fed Say’s No To Tapering!

Flying in the face of market predictions, the Federal Reserve today decided to “await more evidence that progress will be sustained” before winding back its $85bn-per-month bond-buying program.
http://www.mpamag.com/mortgage-interest-rates/fed-says-no-to-taper-15794.aspx

#acefinancenews, #austeritymeasures, #bond-buying-tapering, #federal-reserve-system

Rare $4 U.S. coin to be auctioned for potentially $1.5 million

I Love History...and Research

Rare $4 U.S. coin to be auctioned for potentially $1.5 million

The $4 Coiled HairStella gold coin from 1880 is scheduled to be auctioned on September 23 by Bonhams in Los Angeles and could pull in up to $1.5 million. The extraordinary coin containing six grams of pure gold was struck in the United States, but never released into circulation and will be sold in a lot with 26 other coins worth up to $8 million.

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25 Fast Facts About The Federal Reserve

15-09-203 according to a number of news reports Larry Summers decided to withdraw his name from consideration for Chairman of the Federal Reserve,” Obama said in a statement. “Larry was a critical member of my team as we faced down the worst economic crisis since the Great Depression, and it was in no small part because of his expertise, wisdom, and leadership that we wrestled the economy back to growth and made the kind of progress we are seeing today.”
The decision leaves the way open again for Janet Yellen, current vice chairwoman at the Fed, who has been lobbying hard for the job and would be the first woman at the helm of US economic policy.
#AceNewsServices says l am interested in seeing the real reason behind his withdrawal and whether Janet Yellen will indeed get the job?

Sell-Out of Tax Payers – As Sell-Off of Lloyds Bank – To Large Investors – Takes Place

English: Study on alternative investments by i...

English: Study on alternative investments by institutional investors. (Photo credit: Wikipedia)

Government sells 6 per cent of shares in Lloyds Banking Group, at 75p per share.

The government has today begun the process of selling part of its shares in Lloyd’s Banking Group. It has sold 6 per cent of the shares in the bank, at a price of 75p per share. A profit has been made from the sale, which will be used to pay down the national debt.

The Chancellor received advice from UK Financial Investments yesterday that it would be appropriate to begin the process to sell part of the government’s shareholding in Lloyd’s. The Chancellor agreed with that advice and authorised the process to begin.

Today marks an important step in the government’s plan for the recovery of Britain’s banking system.

The Chancellor, George Osborne, said:

I can confirm this morning that we have sold 6% of Lloyd’s Bank at 75p a share. That is a profit for taxpayers, and rightly so. The money will be used to reduce the national debt by over half a billion pounds.

This is another step in the long journey in putting right what went so badly wrong in the British economy; it’s another step in repairing the banks; it’s another step in getting the money back for the taxpayer; and it’s another step in reducing our national debt.

All of those things together are good news.

If you look at what has happened over the last 12 hours with Lloyd’s, you have investors from around the world investing in a British bank. That is a sign the British economy is turning a corner.

On the face of it this looks good for the tax payer  and couched in the correct way such as the return and the overall benefits, we could start to believe this government really cares about the use of tax payers money! The fact is look much deeper at the way it has been worded by our Chancellor and look at who will benefit and a very different story emerges! The actual shares are to be sold off or should l say offered to:

 Institutional investors are organizations which pool large sums of money and invest those sums in securitiesreal property and other investment assets. They can also include operating companies which decide to invest their profits to some degree in these types of assets.

Typical investors include banks, insurance companies, retirement or pension fundshedge fundsinvestment advisors and mutual funds. Their role in the economy is to act as highly specialized investors on behalf of others. For instance, an ordinary person will have a pension from his employer. The employer gives that person’s pension contributions to a fund. The fund will buy shares in a company, or some other financial product. Funds are useful because they will hold a broad portfolio of investments in many companies. This spreads risk, so if one company fails, it will be only a small part of the whole fund’s investment.

Institutional investors will have a lot of influence in the management of corporations because they will be entitled to exercise the voting rights in a company. They can actively engage in corporate governance. Furthermore, because institutional investors have the freedom to buy and sell shares, they can play a large part in which companies stay solvent, and which go under. Influencing the conduct of listed companies, and providing them with capital are all part of the job of investment management.

This will of course look to bolster the economy for the institutions and at the same time make the pension funds look more healthy for the beleaguered OAPS investments, which of course were decimated back in 2008, at the time of the financial crisis, brought on mainly by the banks and their risky lending policy, something that our previous Bank of England Manager would not sanction, but enter Osborne’s new replacement and all of a sudden, risky lending is back on the cards! Anyone uncertain of Mr Carney’s track record for taking risks read his policy in the Canadian Banking Industry and see what l mean!

So now we have what l can only term as a sell-out of the tax payer, having bolstered up the banks with the hard-earned tax payers funds, using infrastructure funds ,that should light our streets or renew our roads, and now the 4 year plan is completed! Oh yes also a split between the savings and retail arms of what was Lloyd’s TSB Bank Plc and now we have to distinct banks Lloyd’s Bank PLC and TSB Bank PLC, has also taken place, allowing any toxic assets to disappear, into the restructuring process!

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/240104/Chancellor_letter.pdf

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/240105/UKFI_letter.pdf

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/240106/Perm_sec.pdf

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/240104/Chancellor_letter.pdf

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/240105/UKFI_letter.pdf

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/240106/Perm_sec.pdf

UK Financial Investments:

Take a look at their site and view their pdf containing details of the sell-off you even have to agree not to use the information in the US, but visit here is a link to their site: http://www.ukfi.co.uk/

#acenewsservices, #sellout, #business, #economy, #economy-of-the-united-kingdom, #george-osborne, #government, #lloyds, #lloyds-bank, #lloyds-banking-group, #mutual-fund, #politics, #the-survivors-of-the-chancellor, #uk-financial-investments-limited

Greece and Italy will make the Mediterranean region…

Greece and Italy will make the Mediterranean region and alternatives to austerity the main priorities of their EU presidencies in 2014, the two countries’ foreign ministers have said.
http://euobserver.com/political/121484

#acedebtnews, #european-union, #foreign, #greece, #italy, #mediterranean, #ministers

The EU commission has triggered punitive action against…

The EU commission has triggered punitive action against Croatia and accused
it of breach of trust at the highest level.

http://euobserver.com/justice/121469

#acefinancenews, #croatia, #european-union, #trust

California Oil Soars on Middle Eastern Conflicts

The reason why Syria could be the best thing that happens to the US and how the oily-garchs will benefit, also protect Saudi Arabia and secure your future, dam the people dying! You do not need to look any further than this saying:

When the Lamb opened the third seal, I heard the third living creature say, "Come and see!" I looked, and there before me was a black horse! Its rider was holding a pair of scales in his hand. Then I heard what sounded like a voice among the four living creatures, saying, "A quart of wheat for a day’s wages, and three quarts of barley for a day’s wages, and do not damage the oil and the wine!"

Revelation 6:5-6˄ NIV

#acenewsservices, #peace, #california, #oil, #revelations, #syria

One little known secret of the global economic…

One little known secret of the global economic collapse of 2008 is that the same six individuals who caused it, just happened to be the same six individuals who were arrested and convicted for the same crime 20 years earlier. Surprised? They were the brains behind the financial firm of Charles H. Keating, best known for controlling five US Senators notoriously known as the Keating 5. After the scandal, those six evil geniuses went to banks like Goldman Sachs, JP Morgan and Citigroup, where they invented the financial instruments that destroyed the world in 2008. And just as the banks simply recommitted a brilliant crime invented by someone else, today they’re doing the exact same thing.
http://www.whiteoutpress.com/articles/q32013/goldman-sachs-and-jp-morgan-repeating-enron-crimes/

#acefinancenews, #economic-collapse-2008, #citigroup, #enron, #goldman-sachs, #jpmorgan-chase, #keating, #us-senators

CNR net Beijing on September 10 message according…

CNR net Beijing on September 10 message, according to Voice of China “News” reported that “the Chinese government’s response to hefty fines, GSK may withdraw from China.”
  Media reports said the British pharmaceutical company GlaxoSmithKline executives said GSK executives in China are involved in economic crime investigation, the company faces a hefty fine of up to 20 billion yuan and an increasingly difficult business in China, Gülen Su GSK is considering to withdraw from China. But this morning the British media also reported that GSK denied previous reports.
  Aspect Comment: left, 20 billion fine captive; away, a huge asset difficult discarded. True to exit or create a gimmick, GlaxoSmithKline snake oil medicine has long been exposed. Market never believe in tears, a crying two busy three hanging unworkable before the law, foreign companies have no privileges. We advise one, illegality must be punished, truly repentant to re-start.
http://news.china.com.cn/live/2013-09/10/content_22256753.htm

#acenewsservices, #beijing, #glaxo-smith-kline, #voice-of-china

Housing Benefit and Council Tax Benefit guidance Stay…

Housing Benefit and Council Tax Benefit guidance: Stay upto date with your UK Housing and Tax Benefits down these pdfs at this link for more information, or leave a comment and l will try to help and guide you! https://www.gov.uk/government/publications/housing-benefit-and-council-tax-benefit-guidance-part-b

#acefinancenews, #benefits, #council-tax, #housing-benefit