Free Republic

Just after hitting a new all time high of above $1815 in spot gold, the CME immediately sent out a notice to members advising that gold margins for Tier 1 members were increasing by 22% for both initial and maintenance positions, from $4,500 to $5,500. Unfortunately for the CME, this predetermined move was telegraphed to the market weeks ago, and with rumor 57 out of 22 finally turning out correct, this latest move only managed to push gold down modestly, and at last check was once again trading above $1,800. Just like all central bank interventions, which now have a...

Nobody could have foreseen this. Nobody. At this point there is nothing left to comment on what is a concerted action to "mitigate" any and all risk in the commodity market but could as well be classified as executive order 6102.5. While we were joking before that soon one will have to post more cash than an silver contract is worth, we are now forced to reevaluate this sarcasm.

SAN FRANCISCO (MarketWatch) -- Moody's Investors Service on Friday placed New York Times Co.'s (NYT) A2 senior unsecured long term debt, and P-1 commercial paper ratings on review for possible downgrade. The agency said the review is prompted by Moody's growing concerns about the media company's high financial leverage, deteriorating operating margins and weak free cash flow available for debt reduction, combined with concerns over intensifying cross media competition, including the Internet, and growing event risk in the newspaper sector. A multi-notch ratings transition will be considered in light of the company's financial and operating challenges, Moody's said.

Since Ronald Reagan beat Jimmy Carter for the Presidency of the United States, Republicans have won 5 out of the last 7 presidential contests. Since 1994, the Republicans have controlled both houses of Congress. While the 2000 presidential election has been sited as the “closest” in history (it was not) and, on those grounds, liberals would have the country believe that we are “deeply divided,” the 2004 election brings into focus a movement in the country that has been going on for some time. While liberals do not like very much the trumpeting of the “red” against the “blue” in...