There is an upcoming worker wage negotiation in South Africa with the political party of AMCU attending the talks for the first time. If the talks get protracted or a labour action stems from the same, supply disruptions may get to be the norm.
Q3 and Q4 forms the second half of this year: OPEC says that fundamentals may ease for the second half of this year which means supply side would turn out to be robust. Seasonally-higher demand is also anticipated by the OPEC. Meanwhile Barclays expects, and ldquo;higher call on its crude in Q3 and Q4 and rdquo; would make OPEC to ramp up production slowly. The supply would be fine just like the demand and as a result the prices could be stable, ie, if one goes by this limited metric.
By Larry Rubinoff, GoldmanSachs666
No one admits or denies wrongdoing any more–not the perpetrator of the fraud or bribery (referred to with some humor as ‘pay-to-play-scheme’) who is Neil Morrison, and not the bank he worked for, who is Goldman Sachs.
The regulators treat bankers very well indeed. “Sanction” is a contronym and is, therefore, a perfect description of the non-penalties handed out by the SEC to bankers who commit fraud.
Former Cahill aide, Goldman Banker fined $100,000
By Frank Phillips – The Boston Globe
In its toughest sanction yet on pay-to-play-schemes, the Securities and Exchange Commission has ordered Neil M.M. Morrison, a former investment banker at Goldman Sachs and former top aide to ex-state treasurer Timothy P. Cahill, to pay a $100,000 civil penalty for his role as chief political adviser and fund-raiser for Cahill.
The agency’s order also bars Morrison from working in the securities industry for five years as part of the negotiated settlement that brings to an end a 2½-year investigation into his activities as campaign fund-raiser and chief adviser to Cahill’s campaign for governor in 2010.
SEC regulations prohibit investment professionals from using campaign contributions to influence how contracts for securities underwriting are rewarded. The penalties levied against Morrison Thursday are the most severe the SEC has imposed in such enforcements, said Elaine C. Greenberg, the chief of the agency’s municipal securities and public pension unit.
Read the whole article here
Alexander Green writes: A good friend recently called me. He was excited.
“I just bought a fantastic whole life policy from a guy I know,” he said. “I can’t believe the benefits. I don’t know why everyone doesn’t do this.”
“Really?” I said.
The secretary-general of the China Gold Association reckons the kind of frenzied gold buying in late April and early May won’t be repeated.
An interview with Randy Smallwood, CEO of Silver Wheaton, explains the principles and practice of gold and silver streaming.
The chances of the initial gold sale which precipitated the April 12 gold price crash as being ‘legal’ were infinitesimal. Gene Arensberg does the maths.
Buenaventura’s CEO says he doesn’t understand the protests because the planned transfer of water from Lake Perol to a new reservoir have not yet begun.
Standard Bank believes that since the end of last year, gold is trading in a similar fashion to the way it did between 1990 and 2003, and as a result is likely to struggle over 2013.
President Sebastián Piñera said Thursday he hopes Barrick’s Pascua Lama project will proceed as long as the company complies with the requirements.