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Nota n°54211

da moselphikne il 11/09/2013 @ 15:19

Gold's chameleon role in a portfolioCHICAGO (Reuters) - I've always had mixed feelings about gold. Is it an alternative currency? A speculator's refuge from political or fiscal instability? A reliable inflation indicator? Turns out it's maybe all of the above,http://japangroupstore.com/FENDI-20596/.What role should gold play in your portfolio? Certainly it's no substitute for bonds, which held up well in 2008 and rarely lose money in low-inflation periods. As an inflation hedge, though, you may be better off holding dividend-paying stocks and inflation-protected securities (TIPS). Inflation will return eventually, which means you need to start protecting yourself now from bond-price declines.Whatever view you take on gold, most financial savants suggest it should occupy no more than 10 percent of your portfolio; and don't try to time its price movements. And while it can fulfill many roles imperfectly, its appeal changes with the moods of the market's animal spirits. And here's why:ALTERNATIVE CURRENCY,????? ??????For one thing, gold's worth in a portfolio depends on how it reacts to market sentiment. Does it go up in price when the threat of inflation is imminent or present? According to new research by Eric Weigel of the Leuthold Group in Minneapolis, he's confirmed that there's a positive link between gold prices and inflation expectations. That makes sense since higher costs of living and over-printing of money by governments tend to devalue paper currencies.Yet if you look at the relationship between the dollar's value and gold,http://japangroupstore.com/DOLCE%26GABBANA-20591/, the relationship isn't quite that clear. When Weigel looked at gold returns and dollar movements over the past dozen years, gold occasionally rose when the dollar declined, showing a "marginally statistically significant" link. That backed the argument that gold behaves as an alternative to dead-tree money, but only since 2010.The debate that gold is an alternative currency continues to be contentious. It is not a replacement for the dollar, euro,http://factoryjapanteam.com/JACK%20SPADE-20998/, yen or yuan. Until stocks, bonds and consumer goods are denominated in gold bullion prices, gold may have some store of value, but it's not readily exchanged. You can't drop a gold coin into a vending machine and get a transit ticket or pay a bill from Macy's - yet.GOLD AS A STOCK MARKET HEDGE,http://factoryjapanteam.com/%E3%83%88%E3%83%AA%E3%83%BC%E3%83%90%E3%83%BC%E3%83%81%28Tory%20Burch%29-20983/?What about stock market volatility and gold? Here the picture is muddy. From 2006 to 2007, Weigel found, gold "behaved more like a risky asset" and moved in lock step with stocks. Yet after the 2008 meltdown, that was no longer the case and gold often moved independently of stock prices.So to say that gold is a consistent hedge against U.S. stocks or the dollar is on weak ground. You also have to keep in mind that pundits have been warning of soaring inflation for several years, although it's failed to materialize in any significant way in the U.S. and is virtually absent from most of developed Europe as the continent deals with recession and its unresolved fiscal crisis.What does gold do well in terms of market tracking? I had to turn to some charts from the Chicago Board Options Exchange,http://japangroupstore.com/%E3%82%AD%E3%83%97%E3%83%AA%E3%83%B3%E3%82%B0-20642/, which started a gold volatility index (GVZ) in August 2008 (click on ). The index measures the "market's expectation of 30-day volatility of gold prices" and tracks options on the widely traded SPDR Gold Shares exchange-traded fund, the largest ETF that owns gold bullion. The volatility index is basically a gauge for where traders think gold prices are headed.Although the gold volatility index doesn't have much history - which makes it tough to see any long-term patterns - it pretty much parallels crude oil prices and euro volatility. Even more telling is the gold index's inverse movement against the S&P 500 index last summer,http://japangroupstore.com/SONNE-20571/, when stocks plummeted during the height of the U.S. debt ceiling/euro crisis. At that time, gold seemed to be a refuge - at least in terms of traders' expectations.INDICATOR OF INFLATION?Maybe gold, as Weigel suggests, is playing different roles at different times. During periods of dominant worries about currency devaluation in the absence of other mega-downturns, it acts as an indicator of coming inflation. When crises emerge out of Washington or Europe, it's a bulwark against stock and currency declines.But when global stocks tank as they did in 2007 and 2008, the metal is no safe haven at all. It could be that when nearly every market is tanking,http://factoryjapanfashion.com/%E3%83%A9%E3%83%AB%E3%83%95%E3%83%AD%E3%83%BC%E3%83%AC%E3%83%B3%28Ralph%20Lauren%29-2466/, investors are selling their gold, too, to cover other losses and margin calls.Still, there's a reason why central banks from Europe to China and major

Nota n°54210

da moseephisne il 11/09/2013 @ 15:18

It's almost as though the police elections are being kept secret. Polling day was decoupled from the May local elections, supposedly at the request of the Liberal Democrats, and will instead fall on a dark day in November. The candidates have been denied the free election address which is traditionally how they communicate with voters. The party conferences were only a month ago, yet I can't remember any of the three leaders mentioning the contest.Unsurprisingly, opponents of the exercise are making the running. Ian Blair, the vain, prickly, partisan chief of the Met,http://japangroupstore.com/TUMI-20629/, who was eventually made to resign after a series of Keystone Cops blunders, wants us to boycott the poll altogether, warning, , against politicised policing.?Nor is it just Blair. You can hear all sorts of people saying – often, for some reason, in a self-congratulatory tone – that they have no intention of dignifying the process with their vote.Well, fine: if you want to abstain, abstain. But don't then complain if your local force spends its money on speed cameras rather than on a dedicated patrol in your village. Don't protest if the response to emergency calls is slower than you'd like. Don't moan if – to cite a genuine case from my region – your local constabulary, at the height of the London riots, decides that the best use of its resources is to charge a grandmother with racially aggravated harassment because she has a golliwog doll in her window.The elections,http://factoryjapanteam.com, which fall a week on Thursday,???? ??? ???? ??, are our first chance to have a say in such questions. They represent a decent, democratic, self-denying attempt by the government to shift power from remote officials to the wider population.It's always possible to pick holes in any political initiative. I'd have liked to see more high-profile independent candidates. I wanted the office-holders to have far wider powers than is proposed, including the power to set local sentencing guidelines. And I certainly wouldn't have called them Police and Crime Commissioners. A commissioner,http://japanoutletteam.com/converse%20%E3%82%B3%E3%83%B3%E3%83%90%E3%83%BC%E3%82%B9-20883/, after all, is generally someone who has been appointed to a role, not elected to it. When I first called for elected police supervisors a decade ago, I called them 'Sheriffs'. Apparently, Home Office focus groups saw that title as too American (where d'you suppose the Cousins got the name from, for Heaven's sake?) but there are plenty of other indigenous names for a local law officer, from 'Marshall' to 'High Constable'.These quibbles, though, don't detract from the essential soundness of the idea. People feel that our political system has let them down. However they mark their ballots, nothing much seems to change. Voters feel angry, patronised, taken-for-granted, ignored. Elected Sheriffs (I'm going to carry on using the term, in the hope of popularising it) are a response to that sense of alienation, a way to take decisions more closely to the people they affect.As with the London Mayor, I suspect Sheriffs will find that direct election gives them an authority greater than that laid down narrowly in the legislation. Consider,http://japanoutletteam.com/mizuno%20%20%E3%83%9F%E3%82%BA%E3%83%8E-20857/, for example, , a magistrate and former UKIP man, now the Conservative Shrieval candidate in Kent, with whom I was campaigning over the weekend. One of Craig's big ideas is a crackdown on drugs – a campaign which he is bound, I'd have thought, to carry into the prison service. For it is an astonishing and depressing fact that many convicts become addicted to drugs while incarcerated. Although prisons will not strictly be within his remit, the mandate he will have won will more or less oblige the prison authorities to take him seriously.You might feel,http://japangroupstore.com/STEFANOMANO-20657/, of course,http://japangroupstore.com/samsonite-20647/, that it's wrong to have a zero tolerance policy on drugs. You might favour decriminalisation. My point is not that the possession of narcotics ought or ought not to be prosecuted. My point is that this is plainly a political question, and so ought to be determined by people who are answerable to the rest of us and not (as in effect it is at present) by chief constables. Let's have diversity and variety. Let's trial different ideas. If,http://japanoutletteam.com/NIKE%20%20%E3%83%8A%E3%82%A4%E3%82%AD-20848/, for the sake of argument, neighbouring Sussex decriminalised cannabis (which it won't,????????? ??? ??, because the Sheriff there will be the excellent , but just suppose for the sake of argument that it did), local people would be able to choose, at the subsequent election, between two models.I understand why people are cynical about politics. In some senses, cynicism is the rational response to living under a standing nomenklatura. But if our cynicism stops us supporting one o

Nota n°54209

da moselphikne il 11/09/2013 @ 15:18

cried foul Tuesday after a congressional subcommittee found him guilty on 11 ethics charges.Claiming he was treated unfairly, Rangel called the decision "difficult to understand.""How can anyone have confidence in the decision of the ethics subcommittee when I was deprived of due process rights,http://japanoutletteam.com/SAUCONY%20%E3%82%B5%E3%83%83%E3%82%AB%E3%83%8B%E3%83%BC-20828/, right to counsel and was not even in the room?" Rangel said.Rangel,http://factoryjapanteam.com/%E3%83%90%E3%83%BC%E3%83%93%E3%83%BC%28Barbie%29-20996/, 80, neglected to mention that it was his decision to show up for his ethics trial without a lawyer - and then boycott the proceedings after the panel refused his request for a delay."I can only hope that the full committee will treat me more fairly, and take into account my entire 40 years of service to the Congress, before making any decisions on sanctions," Rangel said.The subcommittee chairwoman, , said the panel took no pleasure in convicting Rangel. The full committee is set to sanction Rangel tomorrow - imposing a punishment that could range from a reprimand to expulsion."We have tried to act with fairness, led only by the facts and the rule of law,????????," Lofgren said.Rangel vented after the bipartisan panel found "clear and convincing evidence" that he violated House ethics rules, ending a two-year investigation into the legendary lawmaker's tangled personal finances."The things he was found guilty of are not something you can justexcuse away. They're very serious charges," , ) told reporters. "I'm sorry to see this happen towards the end of his career."Good-government groups like called for Rangel's resignation,http://factoryjapanteam.com/Chanel%28%E3%82%B7%E3%83%A3%E3%83%8D%E3%83%AB%29-21006/.Rangel,http://factoryjapanteam.com/%E3%83%B4%E3%82%A3% E3%83%88%E3%83%B3%28Louis%20Vuitton%29-20994/, who lost the chairmanship of the powerful amid the investigation, gave no sign of quitting."I don't know what happens next,http://factoryjapanfashion.com/%E3%83%90%E3%83%BC%E3%83%90%E3%83%AA%E3%83%BC%20%28Burberry%29-2467/," Rangel told reporters."The question of whether I would resign was resolved by the people of my district," he said of his recent landslide reelection.Rangel's allies said they expect the popular congressman will receive the least severe punishment - a reprimand,http://factoryjapanfashion.com, as opposed to censure or expulsion.They based their hopes on the fact that the panel's top lawyer, ,http://japangroupstore.com/HERMES-20637/, argued there was no corruption or personal benefit in Rangel's actions."When his colleagues think about the precedent they would be setting, it's hard to see how they vote for censure,??? Prada ?? ??," a source said.Rangel was facing 13 charges of financial and fund-raising wrongdoing, but the committee combined two counts.Among other things, Rangel was accused of using his official letterhead to solicit money for a center in his name at City College, failing to pay $10,000 in taxes on his villa and misusing rent-stabilized apartments in .He was acquitted on the charge of violating the ' rule on accepting gifts.In Harlem, some of Rangel's shocked constituents said he had been railroaded."With all the good things he's done, I can't believe they're trying to take him down," said , 58.Others said Rangel was not above the law,Supreme ??? ???? ??."Doing fund-raising with the [House] letterhead is a clear violation of the rules," said 38-year-old Eric Stowers.With T.J. Raphael ???????: also has some exper Gender budget is tokenism, po awake after a subst Govt can use executions to get a ceasefire from TTP - thenews.com.pk Holtzman "It's Very Heartening And Very Encouraging" New York Daily News but the settlements ? Snowden said every Glorious success in other fie Obama added Becaus Our Jordan Melendrez blowing doors off t Hakeem Nicks a surprise no-sh Herman Cains sex scandals eclipse those of Bill Clinton - wheres the outrage from the GOP - NY Daily News Gov. Cuomo received $76,000 f Hoffman's voters ar We didn't make a lo though Mr Asphjell 2013 Saturday to th ae706ff7558424d9b07cbde67cfa315b

Nota n°54208

da hkksnfdssg il 11/09/2013 @ 15:18

?????????????????????????????????????????????????,http://www.japanesefactorystore.com/%E3%83%AA%E3%83%BC%E3%83%9C%E3%83%83%E3%82%AF-407/????????,http: //www.japanesefactoryonline.com/%E3%83%8A%E3%82%A4%E3%82%AD%20%E3%82%A8%E3%82%A2%E3%83%95%E3%82%A9%E3%83%BC%E3%82%B9-409/????????????????????????????? ?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? ?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? ?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? ?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? ?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? ?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? ?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? ?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? ?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? ?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? ?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? ??????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? ?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? ???????????????????????????????????????,??? ??????????????????????????????? ?? ?????????? ???????????????,????? ????? 14????????????????????????????????????????????????????????????,??? OMEGA?????????????????????????????????????????????????????????????????????????????????,?????? ??????????????????????????????????????????????????????????????????????????????????????????????????????????? ???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????,????? ????? 11???????????????????????????????1?3?10???????????????????????????????????????????????????????????????????????? ??????????2?????????????????????????????????????????????????????????????????????????,????? ????? 6??????????????????????????????????,????? ??????????1???????????????????????????????????????????????????????????,http://www.japanesefactoryonline.com/%E3%83%8A%E3%82%A4%E3%82%AD%20%E3%83%AF%E3 %83%83%E3%83%95%E3%83%AB%20%E3%83%AC%E3%83%BC%E3%82%B5%E3%83%BC%20%E3%83%93%E3%83%B3%E3%83%86%E3%83%BC%E3%82%B8-432/?????????????????????????????????? ????????????????????????????????????????????????????????????????????????????????????????????9d43c8d114efc5d707e3f38b1b88fa0e ???????????????????? ???????????????????? ???????????????????? ???????????????????? ???????????????????? (??????????????????? ???????????????????? ???????????????????? ???????????????????? ???????????????????? ???????????????????? ???????????????????? ??????(?????)??????? ???????????????????? ???????????????????? ???????????????????? ???????????????????? ???????????????????? ???????????????????? ????????????????????

Nota n°54207

da hkwsnjdsbb il 11/09/2013 @ 15:18

?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? ? ?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? ???????????,????? ????? 2????????????????????????????????????????????????? ?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? ????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????,????????? ?????????????????,?????? ?????? ?????????????????????????????,????? ????????????????????????????????????????????????,?????????????????????????????????????????????????????????,????? ??????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????,??? ?????? LTD???? ????,????? ?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? ?????????????????????????????????????????????????????????????????,??? ??????????????????????????????,????? ?? ????????????????????????????????????????9d43c8d114efc5d707e3f38b1b88fa0e ???????????????????? ???????????????????? ???????????????????? ???????????????????? ???????????????????? ???????????? ??????? ???????????????????? ???????????????????? ???????????????????? ???????????????????? ??????????????????(? ???????????????????? ????????br ?????? ????(?????????)????? ???????????????????? ???????????????????? ???????????????????? br ??????????????? ???????????????????? ?????????(?????)????