#AceNewsServices – October 21 – Anytime insurance companies spend $100 million you can bet consumers are on the losing end of the spending.

This weekend California’s big health insurance companies added $12 million to their campaign against Prop 45 — bringing the health insurance companies’ total spending against Prop 45’s rate relief to $55.5 million.

Malpractice and health insurance companies are also spending $43 million against Prop 46 — which creates new patient safety protections.

Health insurance companies have now given nearly $100 million dollars against Propositions 45 and 46.

If you are worried about insurance companies buying this election, you can forward this email to your friends and let them know where they can get the facts about both initiatives.

Prop 45 requires health insurance companies to get permission before raising health insurance rates and allows the elected insurance commissioner to veto rate hikes. Health insurance companies are spending so much against it because they want to raise rates at will and not be accountable for what they charge.

Learn more at

Prop 46 requires mandatory drug testing for physicians and suspension of impaired physicians’ licenses, mandatory checks of an existing prescription drug database before narcotics are prescribed to first time patients, and indexing for inflation of the state’s 38 year old cap on damages for medical negligence victims.

Insurance companies are spending so much against it because they don’t want to be accountable when physicians cause harm.

Read your voter guide and urge your friends and family to get the facts too.

How you vote is up to you, but voters should know that insurance companies are spending more than $100 million in California to mislead them.

Learn more at



AceFinanceNews – UNITED STATES(CHICAGO) – As Democrats across the country make an election-year push to raise the minimum wage, they often point to fast food workers, baristas and others who are struggling to raise families, pay rent or get through school – some on as little as $7.25 per hour.

First, though, they are out to help themselves. 

Looking to motivate younger people, minorities and others in their base to go to the polls on Nov. 4, the party has put questions on the ballot in five states asking voters whether the minimum wage should be increased.

The issue is also a near-constant topic on the campaign trail, as Democrats work to identify themselves as stalwarts for the middle class and to paint Republicans – who typically oppose raising the wage because they say it will lead to job cuts – as uncaring.




#AceFinanceNews – October 19 – Oil profits are being tested. Crude prices have face-planted to their cheapest level since 2010, threatening the balance sheets of companies and the budgets of nations.

Source: Bloomberg New Energy Finance

Source: Bloomberg New Energy Finance

Take Canada’s controversial oil sands.

With crude prices teasing $80 a barrel for the first time in years, about 25 percent of the synthetic crude produced from the sands is no longer profitable, according to the International Energy Agency.

Stocks of smaller oil companies, which tend to focus on supplies that are expensive to extract, aregetting crushed. Bond holders who have lent to oil prospectors are getting worried they won’t get paid back.

But maybe the biggest question remaining is whether the bounty of U.S. fracking, which made America the world’s biggest oil and gas producer, will wither in the field.

The answer so far: not so much. Here’s a list of break-even points for some of America’s biggest shale-oil regions. Note that most regions continue to be profitable below $80, including the Bakken and Eagle Ford formations, two of the most important sources.

Much of the Eagle Ford play would still be profitable with $50 oil.




#AceFinanceNews – UKRAINE (Kiev) – October 19 – Ukraine’s president confirmed that an agreement had been reached with Russia on a provisional price for gas deliveries during the winter months at Friday talks in Milan, AFP reports.

On the basis of consultations, I can say that Ukraine will have gas, will have heating,” Petro Poroshenko said in an interview to Ukrainian television on Saturday.

According to the president, the new price will be $385 dollars (300 euros) per 1,000 cubic meters, down from the current price of $485.



#AceFinanceNews – UNITED STATES (Miami) – October 18 – A jury in Miami convicted a Lima, Peru, man on 26 felony charges of conspiracy, fraud and attempted extortion arising from his operating call centres in Peru that lied to and threatened Spanish-speaking victims into paying fraudulent settlements, the Department of Justice announced today. 

Juan Alejandro Rodriguez Cuya, 35, was convicted by a jury after less than two hours of deliberation following a two-week trial before U.S. District Court Judge Patricia A. Seitz in Miami federal court. His co-defendant at trial, Maria Luzula, 52, of Miami, pleaded guilty to all of the charges against her midway through the trial.  Luzula is Cuya’s mother.

Cuya and Luzula both face a statutory maximum of 20 years in prison on each count. Both defendants remain in custody pending their sentencing on Jan. 22, 2015, and Dec. 18, respectively.

“The defendants targeted and preyed upon the Spanish-speaking community – and the evidence of the harm that their fraud caused on individual victims is heart-wrenching,” said Acting Assistant Attorney General Joyce R. Branda of the Justice Department’s Civil Division.  “The Justice Department is committed to prosecuting those who defraud consumers for their own personal gain.”

According to evidence presented at trial, the defendants’ employees in Peru used Internet-based telephone calls to threaten Spanish-speaking victims in the United States. 

The Peruvian callers falsely accused the victims of having refused delivery of certain products and claimed that the victims owed thousands of dollars in fines and that lawsuits would be brought against them. 

In reality, the victims had never ordered these products and nothing had been delivered.

Acting Assistant Attorney General Branda commended the U.S. Postal Inspection Service for their investigative efforts and thanked the U.S. Attorney’s Office for the Southern District of Florida for their contributions to the case.  The case was prosecuted by Trial Attorney Phil Toomajian and Assistant Director Richard Goldberg of the Civil Division’s Consumer Protection Branch.



‘ Jim Paulsen Tells CNBC Markets Might End-Up in a Full-blown Ten Percent Correction ‘

#AceFinanceNews – October 16 – Wells Capital Management’s Jim Paulsen told CNBC on Thursday that the ongoing stock selloff could get “a little scarier yet” and that markets might end up in a “full-blown” 10 percent correction.

“Until yesterday, this corrective process has been looked at more as a good thing, a healthy refreshing pause, refreshing values for the long-term bull,” Paulsen told CNBC’s “Squawk Box.” “And that’s certainly not how we feel this morning. It gives you a sense we’re getting closer to the bottom here.”

Paulsen’s comments came as U.S. stock index futures signalled another morning of selling on Wall Street.


MecklerMedia’s Inside Bitcoins Conference in Association with KINTEX Announces First Major Cryptocurrency Trade Show in South Korea, December 12-13

#AceFinanceNews – NEW YORK – October 16 – On Oct. 15, 2014 /PRNewswire/ — MecklerMedia (OTCQX: MECK) announced that the Inside Bitcoins Conference and Expo taking place in Seoul on December 12-13 will be South Korea’s first major cryptocurrency event.

Inside Bitcoins Seoul will be co-produced by MecklerMedia and the Korea International Exhibition Center (KINTEX).

The event will feature a lineup of both local and international experts, including Jacob Hansen, CEO & Co-Founder, CrowdCurity; Prof. Hoh Peter In, Ph.D. Professor, Department of Computer Science, College of Informatics, Korea University; Zennon Kapron, Managing Director, Kapronasia; Mr. Casey Ilsun Kim, CEO, InfraBasic and Adjunct Professor, Hanyang University Business School; Tony Lyu, CEO, Korbit; and more.

Early bird prices will expire on October 31, so attendees are encouraged to register before then for the best rate. For complete information on Inside Bitcoins Conference and Expo, visit

If your company is interested in sponsoring or exhibiting, contact us at

About MecklerMedia: 

MecklerMedia (OTCQX: MECK) is the producer of conferences including Inside 3D Printing, Inside Bitcoins, and AllFacebook Marketing Conference. MecklerMedia produces over 25 conferences annually. The MecklerMedia news sites and newsletters, including Inside Bitcoins News, 3D Printing Industry, and provide up-to-date coverage on emerging industries to help drive business forward.

SOURCE: Meckler Media

CONTACT: Press Inquiries:

Web Site: Meckler Media

‘ Africa’s transformation depends on how well we mobilize inputs and promote infrastructure through Africa50′

#AceFinanceNews – NEW YORK – On 16 October 2014 / PRN Africa / -The Ninth African Development Forum (ADF) opened on October 13 in Marrakech with the call by the African Development Bank Group (AfDB) for stronger emphasis on infrastructure and for ownership of the Africa50 Fund, “a profit-driven entity seeking to provide risk-adjusted returns to its investors, while building Africa of the future.”

Speaking on behalf of the Bank Group, Operations Vice-President, in charge of Agriculture, Human Development and Governance, Aly Abou-Sabaa, said he believes in Africa’s transformation.

He said many countries in the region are hungry for infrastructure investments, and now is the best time for African governments and their development partners to focus on fast-tracking resources.

Abou-Sabaa said infrastructure is vital for transformation, but added that “other sectors are central, including agriculture, good governance, health, education systems.

“Africa’s transformation cannot occur with weak governance, health or education systems or within a context of prevailing food insecurity,” he said. He also addressed various unforeseeable crises prevailing in the region, including HIV-AIDS, malaria and Ebola.

The Vice-President explained that in spite of agriculture contributing up to 25% of Africa’s GDP and employing about 60% of the population, the continent still imports US $25 billion worth of food every year. “The Bank is promoting participation of anchor investors in private sector investment in agriculture,” the Vice-President stated.

Infrastructure, a gap of US $50 billion annually: 

The big challenge is that Africa invests only 4% of its collective GDP in infrastructure, compared with China’s 14%. For the continent’s future to be rosy, its premier development finance institution – the AfDB Group – has made every effort to help bridge the infrastructure gap.

Abou-Sabaa expounded on the Bank’s estimates, observing that “the annual financing need for African infrastructure is about US $95 billion, of which only US $45 billion is currently invested each year, from African governments, development finance institutions and the private sector.”

Building on these facts and figures, Abou-Sabaa argued that Africa’s transformation largely depends on how well countries mobilize inputs from a range of stakeholders, promote infrastructure through new vehicles such as the Africa50 Fund, invest in their human capital, and foster good governance to enable a business-conducive environment.

Africa50 Fund to directly inject US $10 billion in projects:

He also said the Bank has created Africa50 Fund, headquartered in Casablanca, as the new game-changing solution to stimulate and drive the African infrastructure market.

The Africa50 Fund, “seeks to reconcile governments’ strategic objectives of meeting the substantial investment needs in infrastructure and the attractiveness of African assets to the growing sources of domestic and international capital,” Abou-Sabaa said.

More importantly, the long-term strategic aim of Africa50 is to invest directly US $10 billion in projects, and facilitate total project investments of US $100 billion by crowding in private-sector players and enticing investors.

The Bank Group in recent years has put much emphasis on the key role played by the private sector in implementing infrastructure projects, especially in the power and transport sectors, for the development and transformation in Africa.

AfDB strongly believes in Africa’s transformation:

The Operations Vice-President vividly called for a significant involvement of the private sector, as well as more bankable projects with viable local financial markets capable of leveraging project investments.

Stressing the need for sustainable tax systems and systematic analysis of new and innovative ways of mobilizing domestic resources, the Vice-President offered the Bank’s assistance to African countries in reforming their tax systems and in modernizing revenue administration systems including, where appropriate, systems automation.

The opening session also heard keynote addresses from the Kingdom of Morocco, Ivoirian President Alassane Ouattara, Senegalese President Macky Sall, as well as Cape Verde’s Prime Minister, José Maria Pereira Neves.

The ADF in Marrakech brings together more than 800 participants, comprising political leaders, government officials, academics, key players of the private sector and civil society organization as well as national and international media.

The ADF is a flagship biennial event of the UN Economic Commission for Africa, convened in collaboration with the African Union Commission, the African Development Bank and other key partners. The event, which runs from October 12-16 in Marrakech, offers a multi-stakeholder platform for debating, discussing and initiating concrete strategies for Africa’s development.

SOURCE: African Development Bank (AfDB)



#AceFinanceNews – NEW YORK – October 14 – Many thousands of Americans who lost their homes in the housing bust, but have since begun to rebuild their finances, are suddenly facing a new foreclosure nightmare: debt collectors are chasing them down for the money they still owe by freezing their bank accounts, garnishing their wages and seizing their assets.

By now, banks have usually sold the houses.

But the proceeds of those sales were often not enough to cover the amount of the loan, plus penalties, legal bills and fees. The two big government-controlled housing finance companies, Fannie Mae and Freddie Mac, as well as other mortgage players, are increasingly pressing borrowers to pay whatever they still owe on mortgages they defaulted on years ago.

Using a legal tool known as a “deficiency judgement,” lenders can ensure that borrowers are haunted by these zombie-like debts for years, and sometimes decades, to come.

Before the housing bubble, banks often refrained from seeking deficiency judgements, which were seen as costly and an invitation for bad publicity.

Some of the biggest banks still feel that way.

But the housing crisis saddled lenders with more than $1 trillion of foreclosed loans, leading to unprecedented losses.

Now, at least some large lenders want their money back, and they figure it’s the perfect time to pursue borrowers: many of those who went through foreclosure have gotten new jobs, paid off old debts and even, in some cases, bought new homes.




New post on Asylum Watch

The Chaos In Syria and Iraq Makes Sense If You Think Oil

by Conservatives on Fire

Oil ( energy, including natural gas) is the lubricant that makes the world go around. Most wars, in recent history, have had, as one of several motivations, keeping the that lubricant flowing and making sure that control of the flow stays in friendly hands. For those willing to see, there is a plan behind the chaos that is reining across Syria and Iraq and the Middle East in general. It all has to do with who is going to be in control of the flow of energy from that vital region and equally important is who is going to be stopped from having control.

There is no shortage alternate news sources reporting on the fighting in Syria and Iraq and its relationship with the control of oil and gas from that region. The most creditable sources, in my opinion, come from a series of articles at Zero Hedge (ZH).

No doubt, you are aware that oil prices have been tumbling much of this year. All of the usual talking-heads have attributed the fall in oil prices to over supply due the ever increasing output coming from the good ol’ US of A and due to a general slow down in economic growth world-wide. There is no reason to deny the impact of these important factors. But, these ZH articles I’m going to link reveal something more sinister is taking place behind the scenes by way of secret pact between the US and Saudi Arabia.

ZH first reported on A Look Inside The Secret Deal With Saudi Arabia That Unleashed The Syrian Bombing on September 9, 2014. Here is a snippet:

That much is revealed by the WSJ today in a piece exposing the backdoor dealings that the US conducted with Saudi Arabia to get the "green light" to launch its airstrikes against ISIS, or rather, parts of Iraq and Syria. And, not surprising, it is once again Assad whose fate was the bargaining chip to get the Saudis on the US’ side, because in order to launch the incursion into Syrian sovereign territory "took months of behind-the-scenes work by the U.S. and Arab leaders, who agreed on the need to cooperate against Islamic State, but not how or when. The process gave the Saudis leverage to extract a fresh U.S. commitment to beef up training for rebels fighting Mr. Assad, whose demise the Saudis still see as a top priority."

It was clear to the folks at ZH what the US was bringing to the table. The US would once again be doing the Saudi bidding of fighting a war against Saudi’s enemies. What wasn’t clear was what the Saudis were bringing to the table. That has now been cleared up in this article, Why Oil Is Plunging: The Other Part Of The "Secret Deal" Between The US And Saudi Arabia.

What normally happens when oil prices are depressed by over supply or world economic issues? The OPEC countries, dominated by Saudi Arabia, meet and announce they are reducing production in order to support oil prices. Not this time:

The full answer comes courtesy ofAnadolu Agency, which explains not only the big picture involving Saudi Arabia and its biggest asset, oil, but also the latestfracturing of OPEC at the behest of Saudi Arabia…

… which however is merely using "the oil weapon" to target the old slash new Cold War foe #1: Vladimir Putin.

To wit:

Saudi Arabia to pressure Russia, Iran with price of oil

Saudi Arabia will force the price of oil down, in an effort to put political pressure on Iran and Russia, according to the President of Saudi Arabia Oil Policies and Strategic Expectations Center.

Saudi Arabia plans to sell oil cheap for political reasons, one analyst says.

To pressure Iran to limit its nuclear program, and to change Russia’s position on Syria, Riyadh will sell oil below the average spot price at $50 to $60 per barrel in the Asian markets and North America, says Rashid Abanmy, President of the Riyadh-based Saudi Arabia Oil Policies and Strategic Expectations Center. The marked decrease in the price of oil in the last three months, to $92 from $115 per barrel, was caused by Saudi Arabia, according to Abanmy.

With oil demand declining, the ostensible reason for the price drop is to attract new clients, Abanmy said,but the real reason is political. Saudi Arabia wants to get Iran to limit its nuclear energy expansion,and to make Russia change its position of support for the Assad Regime in Syria. Both countries depend heavily on petroleum exports for revenue, and a lower oil price means less money coming in, Abanmy pointed out. The Gulf states will be less affected by the price drop, he added.

The Organization of the Petroleum Exporting Countries, which is the technical arbiter of the price of oil for Saudi Arabia and the 11 other countries that make up the group, won’t be able to affect Saudi Arabia’s decision, Abanmy maintained.

The organization’s decisions are only recommendations and are not binding for the member oil producing countries, he explained.

Today’s Brent closing price: $90.

So, now you know what the puppet string pullers are really up to: keeping the energy flow in friendly hands and while placing enormous pressure on Russia and Iran to behave themselves.

One thing should be clear to you, dear readers. The economic squeeze on Russia and Iran via oil prices will have much more effect than all of the bombs being dropped. By the way, the OPEC country in which I live is in a state of panic over the falling oil prices. The article is in Spanish, but you can use Google Translate, if you are interested.

No one knows for how long oil prices will remain depressed so enjoy the lower prices while they last, my fellow Americans. After all, no one is more deserving than you American taxpayers. You are paying for the military expenses, which are huge. The net energy-consuming nations of the world thank you. The military-industrial complex thanks you. If oil prices stay down long enough, the democratically elected dictatorship where I live may fall, and many here will have you to thank if that happens.

Well, that’s what I’m thinking. What are your thoughts?

Conservatives on Fire | October 12, 2014 at 10:07 am | Tags: Syria, Iraq, War and Natural Resources, Secret Deal Between The US and Saudi Arabia | Categories: Middle East, Middle East War, US foreign Policy of War in the Middle East, US Foreign Policy | URL: