January 4 2012: Iowa vote tally anticipates occupy protesters, Japan shores up the dollar with Yen, need to know who is segregating client funds, Fed to be a litle more accountable, Trillions and trillions of debt held by governments around the world.
The Iowa Republican party is moving its caucus night vote counting operation to an undisclosed location because of planned "Occupy Iowa Caucus" protests.
State GOP chair Matt Strawn was critical of the protests and said it's ironic that the Occupy movement is focusing on the Iowa caucuses.
"There's really no more grassroots process in American politics than the Iowa caucuses," Strawn said in an interview. "So it's a little puzzling why they'd choose to disrupt that process."
Strawn said the party is coordinating with local law enforcement to ensure smooth operations next Tuesday at the 1,774 precincts around the state.
"We're taking additional safeguards when it comes to the counting and tabulating and reporting of the caucus night results to make sure they're done in a timely and accurate fashion," he said.
In past years the counting took place at Republican Party headquarters, Strawn said. On Tuesday, it will happen at a secret location that will be known to the campaigns, which will have representatives on hand to view the vote count.
Strawn wasn't specific about caucus night concerns, but a handful of protesters were arrested on Wednesday trying to enter the Des Moines campaign headquarters of Mitt Romney.
Occupy activists from around the country have convened in Iowa to join local activists in an effort to draw attention to economic and political inequities.
Arthur Sanders, professor of politics at Drake University in Des Moines, said they area already succeeding by that measure.
"They see an opportunity to draw attention to what they think is important, which is a very different agenda than the Republican candidates have," he said. "They'll get the attention they want."
Gold Radio Cafe: The Gold and Silver Financial Review With Bob Chapman
Interview 441 – Bob Chapman
Last week the Dow fell 0.6%, S&P 0.6%, the Russell 2000 1.0% and the Nasdaq 100 fell 0.4%. Cyclicals were unchanged, transports fell .07%; consumers fell 0.4%; utilities rose 0.4%; banks fell 1.4%; broker/dealers fell 1.8%; high tech fell 10.7%; semis fell 1.1%; Internets fell 0.8% and biotechs rose 1.5%. Gold bullion fell $43.00; the HUI gold index fell 2.6% and the USDX rose 0.2%.
The 2-year US T-bill fell 4 bps to 0.23%. The 10-year T-note fell 15 bps to 1.88% and the 10-year German bund fell 13 bps 1.82%.
Freddie Mac’s 30-year fixed rate mortgages were up 4 bps to 3.95%. The 15’s were up 3 bps to 3.24%; one-year ARM’s rose 1 bps to 2.78 and the 30-year fixed rate jumbo fell 1 bps to 4.67%.
Fed credit surged $35.4 billion to a record $2.920 trillion. Fed foreign holders of Treasuries and Agency bonds fell $20.3 billion to $3.420 trillion. Custody holdings of foreign central banks rose 2.1% ytd, or by $69.9 billion.
M2 narrow, money supply fell $6.4 billion to $9.666 trillion. That is up 9.6% ytd.
Total money fund assets rose $2.6 billion to $2.695 trillion.
Total commercial paper out fell $27.2 billion to $959 billion.
The drop in foreign holdings would be far more pronounced had Japan not intervened to buy dollars and sell yen during August and October. The proceeds of dollar purchases, seen in the vicinity of $100 billion in October, went mainly into the Treasury market…Late on Friday the New York Fed announced that the central bank plans to purchase approximately $45 billion and sell approximately $44 billion in Treasury securities under Operation Twist over the month of January.....
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