Daily Oil Market Summary: 10.11.2010

Submitted by Cameron Hanover

Comments

[Atomizer]

Shhhhhhhhhhh. Keep this a secret

Per Jacobsson Lecture - "Navigating the New Normal"

October 10, 2010

CEO and co-CIO of Pimco, Mohamed El-Erian, delivers the 2010 Per Jacobsson Lecture.

Categories: Annual Meetings

Mohamed El-Erian, CEO and co-CIO of Pimco.

Text of the Lecture

http://www.imf.org/external/mmedia/view.aspx?vid=630369259001

[FischerBlack]

ZH got a mention:

http://www.cnbc.com/id/39619909

[Atomizer]

IMF, World Bank annual meetings ends with agreement on currency disputes - CCTV 101011

http://www.youtube.com/watch?v=lPSpxFgpPBY

UN Millennium development goals, what the fuck is that? LOL. It's about GDP and wealth distribution. Use google and add Obama to your search string.

[Atomizer]

Good night ZH'ers

by Atomizer
on Sun, 05/16/2010 - 16:46
#355084

He said the ideal mechanism would provide money at less than commercial terms and with favourable repayment plans, and would be coupled with a legal system that could handle disputes when countries failed to pay back loans.

“What normally gets wound up, cleaned up [...] in ordinary markets through bankruptcy courts and the like, we don’t have that at the international level,” Mr. Clark said.  “Countries find that these things never get resolved.”

He added that one of the biggest changes in thinking over the last three months had centred on the idea that the IMF could participate in the creation of a new world currency.  This would be done through its system of Special Drawing Rights (SDRs), which are credits allocated by the lending body to its members.  However, it was uncertain whether sovereign nations were willing to allow the IMF such power.

He said discussions were also being held on how SDRs should be distributed ?? whether on the basis of population, economic weight, or level of financial contributions to the institution.  Today, most SDRs are allotted to the wealthiest nations.  The IMF must develop mechanisms for spending SDRs, explaining that African debtor nations could, in theory, use SDRs to pay off debts.

http://www.un.org/News/briefings/docs/2009/090507_Financial_Crisis.doc.htm

[buchesky]

So, the U.S. federal government in charge of our monetary system has been a disaster--let's put the world government in charge of it--great idea!!

[doolittlegeorge]

i'm still pluggin' Assfire...so to speak...to "get it on with Burnett."  And another guest of course.(she's okay with experimental things, too.)  Insofar as oil goes...don't tell you're shortin' that!  And the idea that "you can't print yourself out of crisis"...well, the name is dead giveaway oh "Naked One" since here in the USA it's quite common to "drink one's way through a mid-life crisis."  I won't even get into what girls do when they're in one.  On the other....!

[99er]

WTF

(Reuters) - All New York Stock Exchange and NYSE AMEX stocks have closed following an earlier problem that prevented closes in about 160 stocks, a NYSE spokesman said on Monday.

All stocks have closed and the issue is under review, said Ray Pellecchia, a spokesman for the NYSE.

Some of the stock symbols affected included New York-traded shares of London-based BP (BP.N) and China's CNOOC (CEO.N), as well as shares of Ford (F.N) and Sprint Nextel (S.N), the NYSE said in an e-mail.

http://www.reuters.com/article/idUSTRE69A4SJ20101011

[reading]

They needed the extra time to eek out the +.17 on the S&P...when the bell rang here (and settled out) it was fractionally negative. After a few minutes and a closing "hiccup" things were back to "normal" with a green close (fractional yes)...

[Grand Supercycle]

S&P500 Financials index has not been bullish for some time. This is a warning.

http://stockmarket618.wordpress.com/2010/09/27/mon-sept-27

[Pondmaster]

Not financials , its the Credit Derivatives index you wanna watch . Clear sailing so far .

http://www.creditresearch.com/cdrweb/index.jsp