Wednesday, March 12, 2014

World Food Clock

If food wastage were to be corrected, it would mean we would have enough food to feed the entire planet; therefore there is no shortgae of farmland- as the Goldmans of the world would have you believe. (check out the link below.) Aivars Lode

Monday, March 10, 2014

SEC to probe whether FX rigging distorted options, ETFs

See the article where I comment on the manipulation of the currency markets. Aivars Lode

The inquiry adds to European and U.S. regulatory probes of possible manipulation in currency markets.

The Securities and Exchange Commission is investigating whether currency traders at the world’s biggest banks distorted prices for options and exchange- traded funds by rigging benchmark foreign-exchange rates, according to two people with knowledge of the matter.
The SEC’s inquiry adds to European and U.S. regulatory probes of possible manipulation in currency markets. The SEC’s investigation is in the early stages, said the people, who asked not to be named because the matter isn’t public. The Commodity Futures Trading Commission, which regulates foreign-exchange derivatives, is also investigating possible manipulation, another person said.
Authorities from London to New York have contacted at least a dozen banks as they investigate allegations first reported by Bloomberg News in June that dealers said they shared information about client orders to manipulate benchmark spot rates for currencies. Derivatives such as options account for more than half of the $5.3 trillion-a-day foreign-exchange market; the rest is made up of spot transactions.

The involvement of the SEC, which regulates certain options and ETFs tied to the rates, shows how manipulation could ripple across a range of financial products.
“Any corporation with global operations has to hedge currencies using futures and swaps,” said John Coffee, a securities law professor at Columbia University in New York. “If the FX market is manipulated, it can create a loss that is passed on to the consumer and shareholders.”
John Nester, a spokesman at the SEC, and Steve Adamske, a CFTC spokesman, declined to comment.
The SEC joins the CFTC and other U.S. authorities including the Justice Department, Federal Reserve, Office of the Comptroller of the Currency and New York’s top banking regulator in probing the matter.
Bank of England Governor Mark Carney will appear before Parliament’s Treasury Committee tomorrow to testify after minutes released by the central bank last week showed senior traders had discussed their concerns that currency benchmarks were being manipulated as early as July 2006. The British investigation is being led by the markets regulator Financial Conduct Authority.
The SEC pursued a similar investigation into whether traders rigged key interest rates, according to two other people familiar with the matter. The CFTC and Justice Department have sanctioned four banks and a brokerage in connection with the probe; the SEC didn’t bring any cases.
(Bloomberg News)

Sunday, March 9, 2014

Niagara Falls Frozen

How will they explain this, Niagara Falls frozen. Apparently this has not happened in 100 years. Aivars Lode

Amid the frigid temperatures brought on by the polar vortex, parts of Niagara Falls came to a standstill this week as the waters literally froze in place as they fell.
Niagara Falls resident Tim Williams took these photos on Wednesday at around 7 p.m. from the Canadian side of the Falls, overlooking the American side.
Niagara Falls frozen over

Niagara Falls frozen over
In an email, Williams told CTV Toronto that he spent approximately 30 minutes photographing the Falls.
"I only stopped shooting the Falls because my fingers were freezing in my gloves," he said.
Williams, who has lived in Niagara Falls for eight years, said he's never seen them like this.
Other photos and videos of the frozen Falls were posted to social media.
On Wednesday, the temperature in Niagara Falls dropped to a low of -8 C, but felt like -19 C with the wind chill, according to Environment Canada.
The temperature in Niagara Falls is forecast to rise for the remainder of the week, with a high of 10 C on Saturday, according to the weather agency.