Web Analytics Service Targets Trade Publishers

first_imgB-to-b magazine publishers now have another tool for proving the quality of their online audiences, in real-time. Demandbase Inc. recently launched its Demandbase Professional Web analytics service that uses IP addresses and target audience profiles to organize visitors based on the company they work for, their interests, behaviors, industries, company size, company revenue and responsibilities.“Saying that you have a million visitors means a lot less than saying you have 147,000 visitors from financial services, for example, and from companies of a specific size,” Demandbase CEO Chris Golec told FOLIO:. “Print media always had a handle on their subscriber lists and who their readers are. Online, however, it’s been reduced to a number of clicks or duration of visits with no comprehensive or real-time view of what that audience looks like from a business perspective.”Demandbase sets its service apart from other online analytics services, including Truviso, because it does not track visitors’ personal info or behavior across sites or ad networks, is used by sales and marketing departments (not IT), and targets b-to-b clients, not b-to-c. “In the consumer world, every click represents a potential buyer, but in the b-to-b world you need to know what percentage of your traffic represents your target audience,” Golec said. “Until you know that, it’s hard to know where to reallocate dollars, where to spend more or spend less. ”Demandbase allows publishers to know how many clicks are coming from their and their advertisers’ target audience. They can then use it to help shape advertisements, to further develop their audience and for new advertiser acquisition.”Demandbase Inc. was founded in 2006 and rolled out the Demandbase Professional service this fall. “Basically, we built a back-end data platform in partnership with and using information from groups like Dun & Bradstreet, Hoovers, Harte-Hanks,” said Golec. “It amasses their data, reorganizes it and creates what we think is a best-in-class business information database that maps that data from Internet registry and IP addresses. We provide our clients with a snippet of code, Javascript, that gets pasted into the HTML of a Web site, either on one page or across an entire site.”A handful of trade magazine publishers are already using Demandbase Professional, including Penton Media and Ziff Davis Enterprise.“Among trade publishers, there not only is a need to grow our audience but to grow the quality of our audience,” said Carine Roman, Ziff Davis Enterprise’s senior vice president of business management and operations. “Demandbase helps us achieve both those goals. As publishers increasingly become lead generation companies, this helps us strengthen our database—which has been built primarily from our magazines and newsletters—and saves us money in collecting those names.”Roman said Demandbase allows Ziff Davis Enterprise, which serves the IT industry, to determine what segment of its online audience is working in IT but within specific markets, like healthcare for instance. “That’s helpful when having conversations with advertisers,” Roman said.Demandbase’s pricing is based on clients’ online traffic volume. “A small publisher can get started for hundreds of dollars a month while a larger publisher with, say, more than 10 million visits a month, might spend thousands of dollars a month,” Golec said.More on this topic B-to-B Heavyweights Form Online Ad Network Prepping Readers for a Digital-Only Switch B-to-B Content Syndication Network NetLine Acquires 123LinkIt.com Inc. Partners with E-Commerce Platform RapidBuyr Vivek Shah IDG, Ziff Davis Enterprise Form PartnershipJust In Editor & Publisher Magazine Sold to Digital Media Consultant Shanker Out, Litterick In as CEO of EnsembleIQ Four More Execs Depart SourceMedia in Latest Restructuring BabyCenter Sold to Ziff Davis Parent J2 Media | News & Notes This Just In: Magazines Are Not TV Networks Bonnier Corp. Terminates Editor-in-Chief for Ethics BreachPowered bylast_img read more

Google reportedly scored tax breaks using secret shell companies

first_imgGoogle headquarters in Mountain View, California.  Stephen Shankland/CNET Google used shell companies and subsidiaries to hide its involvement in expansion plans that yielded millions of dollars in tax breaks, according to a report by The Washington Post on Friday, casting light on how tech companies cut deals with local governments. When the search giant planned to build a data center in Midlothian, Texas, Google used a subsidiary called Sharka LLC, The Post reported. Other subsidiaries Google set up for development projects include Jet Stream LLC and Questa LLC. Google also extensively uses non-disclosure agreements with officials, The Post said. In the case of the Texas data center, Google was seeking a decade of tax breaks, but Midlothian’s head of economic development was barred from disclosing Google’s involvement in the project, the report said. The size of deals between local governments and tech companies was thrust into the spotlight Thursday after Amazon dropped a bombshell announcement: It was no longer going forward with plans to build a massive second headquarters in New York City. The withdrawal followed intense opposition from local politicians and union groups, fueled in part by the tax breaks the city gave the e-commerce giant.Deal-making is crucial for Google as it revs up expansion. Earlier this week, CEO Sundar Pichai said the search giant is investing $13 billion in data centers and offices around the country, mostly in the Midwest, East Coast and South. That includes new and expanded data centers in Ohio, Nebraska, Oklahoma, South Carolina and Texas. New and expanded office locations include sites in Virginia, Georgia and Chicago.In California, Google is building a giant campus in San Jose, about 15 miles from the company’s headquarters in Mountain View. The new San Jose outpost will be Google’s second-largest campus. Partnership for Working Families, which obtained the Google records and shared them with The Post, has sued the city of San Jose over its negotiations with Google. The advocacy group didn’t respond to a request for comment. A Google spokeswoman called its tactics “standard industry practices.” At the early stages of deals, companies often strive to keep negotiations quiet because they don’t want to tip off competitors or announce their plans prematurely. But some critics have pointed to the secrecy as detrimental to local communities, which sometimes can’t protest until it’s too late.”We believe public dialogue is vital to the process of building new sites and offices, so we actively engage with community members and elected officials in the places we call home,” the Google spokeswoman said in a statement. “Of course, when we enter new communities we use common industry practices and work with municipalities to follow their required procedures.”Still, tamping down concerns from local communities will be an ongoing battle for tech giants, as Silicon Valley faces more scrutiny than ever over its scale and influence. On Friday, Google tried to highlight some of the benefits of its expansion. The company said Google’s data centers create $1.3 billion in economic activity, $750 million in labor income, and 11,000 jobs throughout the US in a single year. Google Alphabet Inc. 4 Comments Tags Tech Industry Share your voicelast_img read more

Eerie clip of LAPD helicopters encountering UFO goes viral Video

first_imgPixabayA recent video uploaded to YouTube by popular conspiracy theory channel ‘Third Phase of Moon’ is now the hottest debating point among conspiracy theorists and alien enthusiasts. In the video, three Los Angeles Police Department (LAPD) helicopters can be seen encountering a black UFO that seems to be staying intact in the sky.Interestingly, the incident happened in broad daylight, and we can clearly see the black UFO staying stationary in the skies just in front of the police helicopters. “Three helicopters and a dot. That’s a UFO right there. The helicopters are facing that dot,” said the unnamed eyewitness who shot the event on the camera.The video uploaded by the Third Phase of Moon soon went viral on YouTube, and it has already racked up more than 40,000 views.”We are wondering if this is a standoff between extraterrestrial existence, a craft from another world and LAPD helicopters. Basically, this might be some kind of Mexican standoff. What the heck is going on in the skies over LA? This video does not look like an edited video, and there are no traces of tampering,” said conspiracy theorists Blake Cousins in the YouTube video.After watching the video, most of the viewers of this conspiracy theory channel admitted that alien life is a reality, and some people even went a step ahead and argued that extraterrestrials are now gearing up for disclosure.”With these helicopters viewing these craft, it makes me wonder what they are and if possible what they are recording from the choppers. We are living in strange times where we are now seeing things in plain daylight, it can’t be ignored or covered up anymore,” commented Damen Rebel, a YouTube user.”They know extraterrestrials exist, it’s obvious. They also do appear to be very hesitant about them. With the immense technology, some aliens have ( in our solar system), then no wonder,” commented Frank Hall, another YouTuber.However, some sceptics suggested that the weird UFO in the skies and helicopters encountering it could be actually a progressing film shooting. Some others claimed that the UFO might be a balloon.last_img read more

Kerala girl among 13 class 10 students to score 499500 in CBSE

first_imgIndian school children prepare for their Central Board of Secondary Education (CBSE)Raveendran/AFP/Getty ImagesThe much-awaited results of CBSE class 10 exams were announced on Tuesday. Over 91 per cent students passed this year’s examination and 13 students scored 499 out of 500 marks. One among them is Bhavana, who hails from Kerala’s Palakkad district and is a student of Lions School in Koppam.Interestingly, two other students from Kerala – Atheena Elsa Roy from Silver Hills Public School in Kozhikode and Sirinsa Xavier from Vimal Jyothi Central School in Thrissur – scored 498 marks each.The regions in India with the highest winning percentage are Thiruvananthapuram (99.85), Chennai (99) and Ajmer (95.89).Union HRD Minister Prakash Javedekar congratulated all the students who passed the examination and revealed that government schools have also fared well this time.The CBSE class 10 examinations were conducted from February 21 to March 29. As per reports, more than 18 lakh students appeared for this year’s examination. The valuation process was conducted in a very meticulous manner, and CBSE successfully revealed the results within 38 days after the completion of the examination.In the meantime, the Kerala Board of Secondary Education also released the SSLC results on Tuesday. Over 98 per cent students passed this year’s examination and 37,334 scored full A+ grades in all subjects.Pathanamthitta district in Kerala recorded the best performance with 99.3 per cent students passing the exam.last_img read more

Rashmika Mandanna leaves Keerthy Suresh Kajal behind to bag Vijays Thalapathy 64

first_imgRashmika MandannaTwitterRashmika Mandanna’s wish to work with Vijay is going to be fulfilled soon. The Karnataka-based actress, who has earned popularity among Kannada and Tamil audience, is ready to conquer the hearts of Tamil cinegoers.Grapevine is abuzz with rumours of Rashmika being approached for Vijay’s next film, presently referred to as Thalapathy 64. The makers considered the likes of Keerthy Suresh and Kajal Aggarwal, but the Karnataka-based actress has bagged the film, say rumour mills.Similarly, there were rumours of Rashmika pairing up with Vijay in the Atlee Kumar-directorial. She had denied the news and tweeted, “A lot of you have been asking me if I am a part of Vijay sir’s and Atlee sir’s film but since that’s not happening this time I hope I get to work with them soon. I am so overwhelmed (like literally) to see such support from all of you. I will definitely make a debut there soon..) love you all very much..I again just want to say ‘nandri’ for all the love..(sic).”The Kirik Party actress is foraying into Kollywood with Bakkiyaraj Kannan’s film in which Karthi plays the lead. Apart from this project, she is working on Vijay Deverakonda’s Dear Comrade, Sukumar’s untitled film, Kannada movie Pogaru and a few others.The upcoming Vijay film is directed by Lokesh Kanagaraj of Maanagaram fame. BV Combines, which had earlier funded Vijay’s films like Rasigan, Senthoorapandi and Deva, is bankrolling the latest flick. Thalapathy Vijay in Sarkar.PR HandoutThe shooting will begin once Vijay wraps up his current project with Atlee.last_img read more

Everybody indirectly corrupt Muhith

first_imgAbul Maal Abdul Muhith. File PhotoFinance minister Abul Maal Abdul Muhith on Thursday observed that everybody in the country is indirectly involved in graft, reports UNB.Addressing the inaugural session of the Anti-Corruption Commission’s (ACC) hotline service at its head office in the capital, the finance minister stressed the need for applying modern technologies to check graft.”The optimum use of technologies will help reduce corruption… there’s a big scope to minimise corruption in different sectors, including public procurement, by using technologies,” he said.Mentioning that the people who have power are involved in corruption, the finance minister said everybody is indirectly involved in graft. “Corruption is there in our blood… we’ve bogged down in this menace.”Noting that many times people are forced to get involved in corruption, Muhith said, “There was no corruption culture in Bangladesh in the past. Once it used to take place in secret…it was a matter of shame. But, now it happens openly.”He said a former ACC chairman had announced crusade against corruption, but failed to bring any change. “Well, you must investigate but don’t be a jihadist as it destroys the quality of investigation,” he asked the ACC investigation officers.Muhith said once public servants use to live a very simple life but now government salary means ‘beautiful livelihood’, observing that government employees are now changing their mindsets to keep themselves away from graft. “I hope a positive change will come over the next 8-10 years in this regard.”Speaking on the occasion, ACC chairman Iqbal Mahmood said corruption is a big problem for the country and that is why the ACC launched a hotline so that people can lodge their complaints dialling 106 from their phones free of cost.”People can directly communicate with the commission through the hotline and we can take action immediately as per their allegations,” he added.Earlier, Muhith inaugurated the ACC’s hotline by making a phone call to the ACC’s Complaint Centre dialling 106.last_img read more

UPDATE Former State Sen Carlos Uresti Sentenced To 12 Years In Prison

first_img Share Robin Jerstad for The Texas TribuneFormer state Sen. Carlos Uresti, D-San Antonio, arrives at the federal courthouse in San Antonio on June 26, 2018. Robin Jerstad for The Texas TribuneFormer state Sen. Carlos Uresti was sentenced Tuesday to 12 years in prison, four months after he was convicted of 11 felonies, including fraud and money laundering. After he’s released, he faces three years probation, according to multiple reports from his sentencing hearing.The San Antonio Democrat will remain out on bond until October, when he’s scheduled for a second, unrelated criminal trial.Uresti has also been ordered to pay $6.3 million in restitution to the victims of a Ponzi scheme perpetrated by the now-defunct oilfield services company FourWinds Logistics. Uresti worked as general counsel for the company, owned a 1 percent stake and earned a commission for recruiting investors, according to court documents.The two-decade veteran of the Texas Legislature, resigned last week, telling the San Antonio Express-News that his decision to leave office was not an attempt to win a more lenient sentence.Experts say resigning his seat — which colleagues on both sides of the aisle have been calling for since hours after the verdict was handed down earlier this year — could win him favor with prosecutors in the October trial.At the hearing, Uresti gave a lengthy statement, apologizing to the victims of FourWinds’ Ponzi scheme and conceding “I should have stepped up.”“I truly feel remorseful, ashamed, disappointed, disgraced, angry at myself and sad,” Uresti said, according to the San Antonio Express-News.Uresti’s defense lawyers asked U.S. District Judge David Ezra for a lenient sentence, touting a “lifetime of honorable achievements,” particularly his legislative efforts to protect vulnerable children. Prosecutors, meanwhile, advocated for at least 17 ½ years in prison.The special election to replace Uresti has been set for July 31. Eight candidates— including his brother, state Rep. Tomas Uresti, D-San Antonio — have lined up for the seat: four Democrats, three Republicans and one Libertarian. Tomas Uresti, a freshman in the state House, lost his primary in March — a somewhat surprising result many attributed to his brother’s conviction.last_img read more

Cut nine years off your biological age by jogging

first_imgMen and women who engage in jogging for 40 to 30 minutes respectively each day for five days a week may be able to slow down their biological clocks by nine years, say researchers.The study showed that adults with high levels of physical activity are likely to have their biological age decreased by nine years over those who are sedentary and seven years compared to those who are moderately active.”We all know people that seem younger than their actual age. The more physically active we are, the less biological ageing takes place in our bodies,” said Larry Tucker, Professor at Brigham Young University. “If you want to see a real difference in slowing your biological ageing, it appears that a little exercise won’t cut it. You have to work out regularly at high levels,” Tucker added. Also Read – Add new books to your shelfWomen who engaged in 30 minutes of jogging per day and men who engaged in 40 minutes, for five days a week in consistently high levels of physical activity have significantly longer telomeres.Telomeres are the protein endcaps of our chromosomes which are extremely correlated with age. The older we get, the shorter our telomeres and the shortest telomeres came from sedentary people. “We know that regular physical activity helps to reduce mortality and prolong life, and now we know part of that advantage may be due to the preservation of telomeres,” Tucker said.last_img read more

Heres what cruisers can expect from Regent Seven Seas in 20192020

first_imgHere’s what cruisers can expect from Regent Seven Seas in 2019-2020 << Previous PostNext Post >> MIAMI — Regent Seven Seas Cruises has unveiled its new 2019-20 voyages season, featuring a jam-packed lineup of 118 new sailing that depart from March 2019 through June 2020.Sailing aboard four ultra-luxe cruise ships – Seven Seas Explorer, Seven Seas Mariner, Seven Seas Voyager, and Seven Seas Navigator – the immersive itineraries range from seven to 131 nights in the Mediterranean and Northern Europe, Alaska, Canada & New England, Bermuda and the Caribbean, South America, Asia, and Australia and the South Pacific.“There is no better way to explore the world than with Regent Seven Seas Cruises,” said Jason Montague, President and CEO of Regent Seven Seas Cruises. “With these latest 2019-20 voyages, travelers have four years of fascinating itineraries from which to choose an unforgettable and in-depth luxurious experience. Whether it’s your first time with Regent Seven Seas Cruises or your fortieth, our exceptional staff and crew will make every guest feel instantly at home with our highly personalized signature service from the moment they step aboard.”There are two new Grand Voyages with no repeating ports: the 77-night ‘Grand Arctic Quest’, which sails from London to New York aboard Seven Seas Navigator, and the 66-night ‘Circle South America’, which sails roundtrip from Miami aboard Seven Seas Mariner and circumnavigates South America. Bespoke amenities for both voyages include free first-class air, exclusive shoreside events, unlimited laundry, a commemorative gift, phone time per suite and more.More news:  CIE Tours launches first-ever River Cruise CollectionSeven Seas Explorer, considered the most luxurious ship ever built, will sail Northern Europe and the Med from April through November 2019, and cruise the Caribbean from December 2019 through February 2020. Punta Cana will be a maiden port on Christmas Eve 2019. The ship will also offer a westward and eastward trans-Panama Canal voyage in March 2020 before returning to Europe in April.In Alaska, Seven Seas Mariner will return to the region from May through September 2019. The ship will cruise the Caribbean in October – making a maiden call on Acujulta (El Salvador) – before embarking on the 66-night South America circumnavigation voyage. After a Panama Canal transit from Miami, the 2020 world cruise begins on Jan. 24 from San Francisco fro a 131-night roundtrip journey.Seven Sea Voyager will return to the Mediterranean from April through October 2019, and then sail Asia and the South Pacific from November 2019 through March 2020. Travellers also can choose one of two Australia and New Zealand itineraries in January. Maiden ports include Kos (Greece), Calvi (Corsica, France), Miyazaki (Aburatsu, Japan), and Nelson (New Zealand).More news:  Flights cancelled as British Airways hit by computer problemFor its part, Seven Seas Navigator will ply Northern European waters in June and July 2019 and make maiden port calls on Cherbourg (France), Fishguard (Wales), Galway (Ireland), Kollafjord (Faroe Islands), Patreksfjordur and Husavik (Iceland), and Molde (Norway). The ship will sail Bermuda, Canada and New England itineraries from August through October 2019, and then reposition to sail Australia, New Zealand and South Pacific itineraries through March 2020. While in the South Pacific, Isle of Pines (New Caledonia), Phllip Island (Australia), and Adamstown (Pitcairn Islands) will also be maiden ports of call.On select Seven Seas Voyager and Seven Seas Navigator sailings in Asia and the South Pacific, guests in all suite categories enjoy a free three-night, pre- or post-cruise land program to delve deeper into the cultures of destinations such as Shanghai, Hong Kong, Singapore, Bangkok, Bali, Sydney, New Zealand, and Dubai and the Emirates. Additionally, guests can choose optional one- to three-night, overland programs that take them to visit cultural landmarks only found inland, such as India’s Taj Mahal mausoleum, Cambodia’s Angkor Wat temple complex, and the Egyptian city of Luxor. Overland Programs start at $999 per guest. Travelweek Group Share Posted by Friday, August 11, 2017 last_img read more

Air Italy opens TorontoMilan sales for summer 2020

first_img Posted by TORONTO — Air Italy says all of the routes in its current summer season will be back for next year’s summer season, starting March 29 and running through Oct. 24, 2020.The carrier’s Toronto-Milan flights are coming back next year, along with flights out of L.A. and San Francisco. Air Italy also offers year-round services out of New York and Miami.In addition to the above routes, all of the current 2019 summer schedule to Africa – Cairo, Dakar, Accra, Lagos and Sharm el Sheikh – are also on sale for 2020.Air Italy will also be continuing to serve daily multi-frequencies and connections with international flights from Rome, Naples, Palermo, Catania, Lamezia Terme, Cagliari and Olbia.“Due to the excellent performance of our network during 2019, we are very pleased to be able to announce the commencement of sales for 2020 with the entire network remaining for next summer,” said Rossen Dimitrov, Chief Operating Officer. “This demonstrates our commitment to both the domestic and international market, our network strategy, and our desire to enhance the travel experience for our passengers once more, through early planning opportunities and continued service to our popular destinations.”More news:  Le Boat has EBBs along with its new 2020 brochureMilan Malpensa (MPX) remains at the core of Air Italy’s 2020 network, says Dimitrov, with more than 170 weekly frequencies operating from the carrier’s main hub in the peak season. Some 26 of those are North Atlantic routes, including the six times weekly summer seasonal service from Toronto. The service launched in May 2019.During the winter season 2019/2020, adds Rossen, Air Italy will operate new long-haul seasonal destinations such as Maldives – which will be offered until the end of 2020 Easter holidays – alongside Mombasa and Zanzibar. These new routes will be launched in October 2019 and will be operated by the airline’s A330-200 aircraft during the winter. Share Air Italy opens Toronto-Milan sales for summer 2020 Tags: Air Italy, Milan, Salescenter_img Monday, July 15, 2019 Travelweek Group << Previous PostNext Post >>last_img read more

Kerry says summit will seek global action to protect oceans

first_imgWASHINGTON, D.C. – U.S. Secretary of State John Kerry said Wednesday that he will “try to coalesce global action around the oceans” next week by hosting an international summit aimed at curbing overfishing, pollution and chemical changes spurred by rising carbon dioxide emissions worldwide.The two-day conference, which will begin Monday and include officials from 80 countries, represents the Obama administration’s highest-profile effort to address human influence on oceans. Kerry has spearheaded the effort, recording a video (see above) that urges individuals to take personal action to protect the sea and marshaling commitments from political and corporate leaders.Senior administration officials have indicated that the United States will provide additional funding for marine research and for efforts to better monitor how the sea is becoming more acidic as it absorbs human-generated CO2 emissions. Some global leaders — including officials from small island states in the Pacific — will also announce the creation of protected marine areas and initiatives to manage plastic waste and promote sustainable seafood.“We can do better science,” Kerry said. “We can do better monitoring.”David Balton, deputy assistant secretary for oceans and fisheries, said many technological and policy approaches to reducing nutrient runoff, plastic debris, illegal fishing and other ills already exist.“There are solutions out there. Often the missing ingredient has been political will,” Balton said. “We’re hoping to build political will toward these solutions.”A handful of world leaders will attend the conference, including Prince Albert of Monaco and Anote Tong and Tommy Remengesau, the presidents of the Pacific island nations of Kiribati and Palau, respectively. U.S. President Barack Obama will not attend the conference but will send a video message, aides said.The administration is enlisting the help of corporate officials such as Bumble Bee Foods chief executive Chris Lischewski, who has worked with scientists and environmentalists on measures to protect tuna, and Legal Seafoods chief executive Roger Berkowitz, who has mocked the idea of sustainability by serving some overfished species at his restaurant.“We tried to invite a really broad swath of folks,” said Catherine Novelli, undersecretary of state for economic growth, energy and the environment, referring to Berkowitz’s participation. “We have to have everybody come here. We have to have everyone on the bandwagon to go in the right direction.”Novelli said she is confident that the meeting will yield a “very tangible set of initiatives,” as well as a plan of action with steps that can be measured over time. In organizing the conference, she said, she did not meet “anybody who says this is an insoluble problem.”“There’s nobody throwing up their hands,” she said.© 2014, The Washington Post Facebook Comments Related posts:Obama will propose expanding Pacific Ocean marine sanctuary Climate change could leave sharks unable to hunt Chile declares huge Easter Island marine reserve; US announces 2 more protected areas Save the beer: Climate change adds urgency to clean-water advocate’s rallying crylast_img read more

South African news network eNews is to launch in t

first_imgSouth African news network eNews is to launch in the UK after striking a deal with pay TV platform BSkyB. The channel will take the slot on Sky’s electronic program guide previously held by Africa Channel +1. The channel is expected to change its name from eNews to ENCA for its UK launch. “Due to our expansion we will have to rebrand our service to make it relevant to viewers abroad and here at home,” Patrick Conroy, group head of news at e.TV told local press. “It will be more of a brand tweak than an overhaul, viewers need not be concerned. It will still be the same news service with the same content. The only difference will be our appearance.”last_img

A sigh of relief was audible over west London yest

first_imgA sigh of relief was audible over west London yesterday evening as BSkyB discovered it had retained the rights to the English Premier league until 2016 – but at what cost?Rumours had emerged that Al Jazeera and its seemingly bottomless bank balance were preparing to enter the costly, but potentially rewarding, world of English football rights. The Qatar-based broadcaster made waves in France when it snaffled the pay-per-view rights to Ligue 1 football in France, previously held by Canal Plus.For Sky, EPL football has been the corner stone of its service since the creation of the league in 1992. Twenty years and 10 million subscribers later, the decision to invest so heavily in the League has paid off. But after the champagne corks popped last night Sky execs were forced to reflect on the huge hike in the amount it will pay the EPL – some £2.3 billion (€2.8 billion) over three years. That is a massive sum in all respects, but it seems even more gratuitous given Europe’s crippling financial situation.Sky has reached an interesting point in its evolution. Reaching the 10 million subscriber landmark was an impressive achievement. But where does it go from there?Pay TV growth has slowed and is unlikely to increase significantly, so the operator needs to look elsewhere to grow revenues. Sky has innovated well with value-add services like HD and Sky Plus proving particularly popular – but there are millions of customers who take Sky services purely for the football. To maintain its growth path, the decision was simple for Sky – it had to win those rights.Now they have them, it will be interesting to see what demands the operator will make to balance out the whopping fee it paid. The cost of Sky Sports subscriptions will rise, no doubt. Whether cash-strapped viewers will be prepared for it is another matter. Insiders have also suggested that Sky will have negotiated concessions from the Premier League in terms of the scope of their coverage. The possibly of getting dressing room access has been muted, for example.More surprisingly than the amount Sky has paid to retain the rights is BT sneaking under the radar to nick the two packages of rights currently held by ESPN.No doubt Ian Livingston, BT’s CEO, could be heard muttering ‘caveat emptor’ to himself in the days before the telco submitted its bid – for the buyer must beware when previous owners of the two rights packages, ESPN and Setanta, struggled to build a sustainable business. Unlike those broadcasters, BT has the deep pocket required to take a financial hit and will no doubt be thinking about longer term strategies than trying to make a quick buck.The telco has struggled to set the UK pay TV market alight with its BT Vision platform and will be hoping that the launch of a sports channel that airs exclusive Premier League matches will act as a catalyst to boost numbers. With the imminent launch of YouView, optimising its content offering is imperative. But perhaps even more pressing for BT is attracting customers to its new high speed fibre network – something that it could easily bundle into its exclusive sports offering.So what about ESPN? The Disney-owned broadcaster is already considering exiting a number of international markets. Disney chairman and chief executive Bob Iger recently told investors that the broadcaster was “going to continue to look at [international] opportunities with an eye toward determining whether they have the ability to grow or, in some cases, become profitable or, if not, potentially exit those markets”.While there’s no suggestion that ESPN will close its UK operation, it will struggle to retain customers without the carrot of the Premier League.@dtvegrahamlast_img read more

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first_imgSponsor Advertisement Avrupa Minerals Ltd. is a growth-oriented prospect generator focused on aggressive exploration for valuable mineral deposits in politically stable and prospective regions of Europe with a growing pipeline of prospects in Portugal, Kosovo and Germany.Company highlights:Alvalade Project JV with Antofagasta Minerals SA – Copper and Zinc on 1000 km2 project area in the Portuguese Pyrite Belt – 2012 exploration budget of US$ 2.5 million, all provided by Antofagasta, including 6000 meters of core drillingGold exploration in the Erzgebirge Mining District, Germany – 307 km2 exploration license in 1000+ year producing region of tin, tungsten, silver, base metals, and uranium – Increasingly favorable permitting and mining regulations, long mining culture, widespread known gold panning locationsCovas Tungsten JV with Blackheath Resources Inc. – 922,900 mt @ 0.78% WO3 (non NI 43-101 compliant) historic resource – Potential to increase the tungsten resource – New gold target on the projectStrong management including Paul Kuhn, CEO, previously involved with several discoveries around the world, and Mark T. 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And so it begins…another precious metals rally in the making…at least that’s what the talk is on the Internet right now.Gold’s low print on Friday came about 2:30 p.m. Hong Kong time…and the subsequent rally was only ten bucks…and that came to an end shortly after 10:00 a.m. in London.  From that point, gold gave back half those gains going into the Comex open.The rally that began at that point came to an end at its high tick of the day…$1,667.70 spot…just a few minutes after 11:00 a.m. Eastern time in New York…which was a few minutes after the London close at 4:00 p.m. GMT.  But by the time that electronic trading was done in New York at 5:15 p.m…gold had slid back five bucks from that high.Gold closed at $1,662.80 spot…up $17.90 on the day.  Net volume was on the lighter side…around 112,000 contracts.Silver’s chart looks more or less the same as the gold chart…but the rally during the Comex trading session in New York was far more substantial on a percentage basis…and the high tick of the day [$32.41 spot] came either shortly before, or just after, the close of Comex trading at 1:30 p.m. Eastern time.  From that high, silver gave back a bit of its gain going into the weekend.Silver closed at $32.24 spot…up 65 cents on the day.  Net volume was pretty light…around 31,000 contracts.The dollar index traded mostly flat during early Far East trading, with the high tick [79.74] coming shortly after 3:00 p.m. Hong Kong time…less than an hour before London opened on their Friday morning.Less than three hours later…and a few minutes after 10:00 a.m. in London…the dollar index had fallen 50 basis points.  Three hours after that…8:00 a.m. in New York…the dollar index had gained back 30 points of that decline…but continued to fall after that, closing almost on its low of the day.  When all was said and done, the dollar index was down 43 basis points from Thursday’s close.If you examine the major dollar index inflection points against the major deflection points in gold and silver prices, you’ll find a perfect match but…as I’ve said for the last three days…the match is almost too perfect.  It looks suspiciously like the same traders buying gold/silver and selling the dollar simultaneously…or doing the exact opposite…selling gold/silver and buying the dollar.  There’s no lag time at all, as the inflection points in both are either simultaneous or within minutes…and the only people who would know the exact price direction of either the dollar index or the precious metals, would be those who are doing those trades at the same time.Talk about insiders gaming the system!  I wish I was making their money.But, as I’ve said before, maybe I’m looking for black bears in dark rooms that aren’t there.Even though both gold and silver were up a decent amount at the open of the New York equity markets, the HUI opened flat…but began climbing from there…reaching it’s high tick a few minutes after 12 o’clock noon Eastern time.  It held that level until about 1:45 p.m…and then declined a few basis points going into the close at 4:00 p.m.  All in all, the gold stocks pretty much mirrored the gold price.  The HUI finished up 1.74% on the day.Well, the silver shares were certainly the stars yesterday…particularly the juniors.  It’s too bad that Nick Laird’s Silver Sentiment Index doesn’t reflect all that, but it still closed up a respectable 3.18%.(Click on image to enlarge)The CME’s Daily Delivery Report for Friday showed that 29 gold and 113 silver contracts were posted for delivery on Tuesday and, as has been the case all year, it was Jefferies as the short/issuer on all 113 contracts…and the Bank of Nova Scotia and JPMorgan were the long/stoppers…with 75 and 31 contracts respectively.  The Issuers and Stoppers Report is worth a look…and the link is here.There were no reported changes in GLD yesterday…but an authorized participant withdrew a rather smallish 339,921 troy ounces of silver out of SLV.And, for the first time in a while, the U.S. Mint had a sales report worthy of the name.  They sold 8,500 troy ounces of gold eagles…4,500 one-ounce 24K gold buffaloes…and 275,000 silver eagles.  Month-to-date the mint has sold 43,500 ounce of gold eagles…23,000 one-ounce 24K gold buffaloes…and 2,137,000 silver eagles.So far this month, silver eagles are up about 33% over February’s sales month…and gold eagle/buffalo sales are up 120% over the same period.  I would agree with what Ted Butler had to say in one of his recent commentaries, that once this market turns to the upside with some real force behind it, we’ll see some daily sales that will make your eyes water, because the mint has probably been building up inventory over the last six weeks or so…and will be able to fill all orders regardless of size, as they won’t be constrained by current production levels.Thursday was another day of big silver inflows into the Comex-approved warehouses.  They reported receiving 1,215,567 troy ounces of silver…and shipped out an insignificant 10,610 ounces.  When they finally parked the forklifts on Thursday night, the five depositories held 135,850,575 ounces of silver.  The link to that action is here.It suddenly dawned on me yesterday that maybe the reason that silver inventories are climbing at these warehouses is that Jefferies has been bringing in silver to meet its delivery requirements since December 1st of 2011.  From then until yesterdays close, Jefferies has delivered 2,874 silver contracts on the Comex.  That works out to 14.37 million ounces…447 tonnes…and that, dear reader, is a lot.The Commitment of Traders Report came in as Ted Butler expected…however I was hoping for a bigger improvement in silver, but regardless of what I thought, the improvement was pretty substantial, as the Commercial net short position declined by 3,505 contracts…or 17.5 million ounces.  The Commercial net short position in silver is now down to 160.6 million ounces.  That’s pretty low, but about 90 million paper ounces above its late-December absolute low.The ‘1 through 4’ largest Commercial traders are short 188.3 million ounces of silver…and the ‘5 through 8’ Commercial traders are short another 42.3 million ounces on top of that.  Once you subtract all the market-neutral spread trades out of the Non-Reportable category, the ‘1 through 4’ Commercial traders/bullion banks are short a bit more than 43% of the entire Comex futures market in silver.  That’s preposterous!!!For the second week in a row, it was gold that showed the biggest improvement, as the Commercial net short position declined by 25,550 contracts, or 2.56 million ounces.  As of Tuesday’s cut-off, the Commercial net short position is now down to 16.6 million ounces.  The ‘1 through 4’ and ‘5 through 8’ Commercial traders on the short side are short 11.4 million and 5.2 million ounces respectively.  And once the market-neutral spread trades are removed, the ‘1 through 4’ Commercial traders/bullion banks are short 28.4% of the entire Comex futures market in gold.  That’s equally as preposterous.Here’s Nick Laird’s up-to-date “Days of World Production to Cover Short Contract” chart that he designed at Ted Butler’s request over a decade ago.  This shows all the commodities that are traded on the Comex in New York.  Notice that the biggest short positions by the four largest bullion banks are in the four precious metals…and how silver stands out “Above the Crowd”…as they say over at Re/Max.(Click on image to enlarge)I got a monster e-mail from Nick Laird late last night…and thought all the charts, plus everything had to say in association with them, was worth posting….so here goes.“The gold oscillator is indicating that the latest move up by gold is a breakout.“There is good probability that gold has finished it’s decline and the next wave should be up and taking out the recent highs at $1,780.(Click on image to enlarge)“On a larger scale, the impending move up – if it is strong enough i.e.. takes out $1,800 & then $1,900 – will then trigger a massive rise out of the triangle shown in the chart below.“This is indicative of a major rise coming in gold – something strong enough to take us up to the mid $2,000’s.(Click on image to enlarge)“The first rise up off the bottom was from $1,520 to $1,790 – a rise of 270 or 17.7%.  We are now down at the retest level and should move up from here so a 270 rise up from $1,640 will take us up to $1,910.“We will in all probability see a larger rise here i.e. larger than 18%.“With that rise we retest the all time highs & break through.  This will trigger the breakout on the Long Term Gold Oscillator giving us the buy signal for the next leg up to $3,500.“The last major wave up took us from $700 to $1,900 in 2.5 years. This major wave up should take us from $1,500 to $3,600 in 1.5 years.“So – a rise from here up to the old highs should occur in the next leg up. This should trigger the buy signal signaling a major move up to the mid $2,000’s. A pullback and then a continued rise into the high $2,000’s – low $3,000’s.“Another pullback and then the parabolic move up to the top of the leg in mid 2013 at around $3,500.  This a possible wave structure for the major rise – a major wave comprised of several sub-major waves.“That will put in a wave up that will fit in with the e-wave chart…(Click on image to enlarge)“So expectations are for a strong move up to be continued by strong moves – large runs up with minor pullbacks moving the market up over 100% from low to high i.e. from $1,500 to $3,500.  If it does take on this stance then it will be affirmative of the plotted advance speculated on in the chart above.“If it doesn’t then one can suspect that we are more likely to follow Martin Armstrong’s path for gold with a soft year this year as gold gathers strength to run up  from 2013 through to 2017.“At the moment I prefer my version & believe that it has good chance to play out. What the market will depend upon is any manipulation that will prevent the above scenario from playing out.“But when I look at the last 12 years I see nothing that has impeded the price and amounted to much in stopping gold’s relentless rise.“So we are fast closing in on a position that if confirmed would mean that you should be fully invested in gold & ready for the rise ahead…and I still prefer bullion over gold stocks for this move up.“I’m still looking for a major bear market in equities & believe that this will weigh heavily upon gold stocks leaving few out performers.“However if we do get this equities correction then gold stocks will become a definitive buy.“So – exciting times ahead of us. – NickFrank Barbera’s The Gold Stock Technician report for Thursday had this to say in its opening paragraph…“This report is unlike any other report we have ever written, as the list of data extremes in the Gold Stocks has grown so rapidly in the last few days, that it is almost impossible to stress how potentially major a low we could be witnessing in the mining stocks at the current time. That a violent upside reversal rally, lies dead ahead, there can be virtually no doubt. Personally, I would not be the least bit surprised to see the Gold Stocks up 150% to 200% over the next 18 months coming off the current lows. There is now historical technical evidence in spades to support the case that we are watching the final day or two of what is likely another major secular low in the group, and a bottom which could easily kick start a major bull market advance. We feel there is very good chance that today was the closing low on GDX, XAU, and HUI. In the past, readings like those now present, have systematically led to major upside advances in the sector, and we see no reason to believe that past precedent won’t repeat again. In this report, which we believe will stand as a seminal update, we summarize our views right up front, and then provide a lot of historical charts to support the case walking down the long list of individual indicators which we track each day. For some, looking at a long list of charts, can be to taxing, and that is why we cut straight to the bottom line on this first page.”This is all well and good.  I’m certainly of the belief that we saw the bottom on Thursday…but how things turn out in the future is…as Nick Laird pointed out in his comments…as always, in the hands of JPMorgan et al.  Supply and demand fundamentals mean nothing when you’re dealing with a managed market.And as much as the wildly bullish part of me wants to believe both Nick and Frank…the ‘born in Missouri’ part of me says “show me”.  Stay tuned.Here’s a chart from a Zero Hedge article that Australian reader Wesley Legrand sent my way yesterday.  It need needs no further embellishment from me…and the link to the hard copy of the story is here.(Click on image to enlarge)These last three charts were sent to me by reader Phil Barlett…and shows just how much monetary pumping at all levels is currently going on at the moment.  It’s already showing up in the real inflation numbers…and certainly before the end of the year, monetary inflation will be noticeable to all…even if official government figures don’t show it.(Click on image to enlarge)(Click on image to enlarge)(Click on image to enlarge)In his latest blog, reader Scott Pluschau points out that the Commitment of Traders short/long ratio for the U.S. dollar is now greater than 10 to 1.  I would suggest that his short blog is worth the read…and the link is here.Since it’s Saturday, I have a huge list of stories for you that I hope you have the time to plow through in what’s left of the weekend.A “simple” question:  Is the U.S. stock market a Bubble?  Have the Fed and global central bankers prolonged the U.S. Credit Bubble sufficiently to the point of having again incited Bubble dynamics within our equities market?  Sure looks like it.  As we’ve witnessed repeatedly for twenty-odd years now, every government bailout/policy response to a burst Bubble ends up inflating fledgling Bubbles to full-blown Bubble fruition excess.  From my point of view, U.S. stocks were, at the minimum, a “fledgling” Bubble prior to recent LTRO and concerted global central bank liquidity operations. – Doug Noland, Credit Bubble Bulletin, 23 March 2012Here’s a ‘blast from the past’ that you’ll recognize instantly.  I can’t remember how many times in my life I’ve danced my brains out to this 1978 disco classic.  The link is here.  Enjoy!And so it begins…another precious metals rally in the making…at least that’s what the talk is on the Internet right now after Thursday and Friday’s action.I, like you, would really like that to be the case.  But, as I’ve said ad nauseam in this column for years…it’s all up to JPMorgan et al.  Will they be the short sellers of first and last resort when this rally starts to grow some real legs?  Don’t know.We’re now below the 50 and 200-day moving averages on the all the precious metals…and once prices break over that level, the game will hopefully be on.  At that point we’ll find out soon enough how these rallies will end.Of course there could still be some more down-side price action, but one has to wonder just how much more blood ‘da boyz’ can get out of these precious metal stones.This column has already gone on for too long, but before I sign off, I want to remind you one more time that with the precious metals and their shares still on sale…but for how much longer, nobody knows…there’s still the opportunity to either readjust your portfolio, or get fully invested in the continuing major up-leg of this bull market in both silver and gold…and I respectfully suggest that you take a trial subscription to either Casey Research’s International Speculator [junior gold and silver exploration companies], or BIG GOLD [large producers], with all our best (and current) recommendations…as well as the archives. Don’t forget that our 90-day guarantee of satisfaction is in effect for both publications.Enjoy what’s left of your weekend…and I’ll see you in this space on Tuesday.last_img read more

Of course even newer disruptive technologies suc

first_img Of course, even newer disruptive technologies, such as 3D printing, will, over time, begin to carve into the market share of Internet retailers – so that’s another interesting area for personal and professional study. Regardless, the nature of local businesses has changed, and it’s not changing back. (I would be remiss if I didn’t mention the excellent work that Alex Daley and his team at Casey BIG TECH do in keeping subscribers up to speed on the latest big developments in technology and how to profit. At just $99 a year, with a full three-month money-back guarantee, it’s truly a no-brainer. Learn more and sign up today.) Three Reasons the Case for Gold Remains Intact While it’s nice to see gold bounce off recent lows and stage a rally of late, short-term price action is of little personal concern as I don’t trade the physical metals: I own them as a long-term insurance against further currency depreciation. In that regard, however, it’s worth periodically pondering whether the base case for holding gold – or any asset, for that matter – remains intact. Here are three quick observations on why I think the gold bull is still well intact. Reason #1: Opposition to Austerity Today it was announced that EU unemployment continued to rise into record territory, up to 12.2%. As this is a region-wide stat, you can safely assume that in the poorer member countries, and especially among the young and minority groups, the rate is easily twice that number. As a consequence, the odds of the EU adopting widespread austerity – i.e., significantly pulling back government spending – is just not going to happen. Supporting that contention was an article out of the Financial Times today, titled “EU eases hard line on austerity.” And I quote… “Brussels will on Wednesday give its clearest signal yet that it is moving away from a crisis response based on austerity, allowing three of the EU’s five largest economies to overshoot budget deficit limits and pushing instead for broader reform.” Likewise, looking forward to the near future here in the United States, as our own Bud Conrad did in the current edition of The Casey Report, shows that rather than moving into a period of easing demand on government expenditures, the aging baby boom bubble is about to greatly exacerbate the problem. On the other side of the podium, we witness social proof in action – the deep-seated human trait of unquestioningly modifying behavior in order to stay in sync with the actions of others around us. Which is to say that because we see everyone else going along like sheep, we go along too. Otherwise we might have answered Jabba’s ridiculous questions with something along the lines of, “Look moron, if you can’t read the identification card in your hand that confirms my name, or the ticket that confirms my destination, maybe you’re in the wrong line of work.” But we don’t do that, because no one else is doing it. And sadly, if we did, then Jabba would press a button on his podium, and we’d fall into the Pit of Rancor (or whatever the equivalent is in today’s militarized Homeland Security system). I mention all of this because this scenario – and the underlying forces at work – when considered on the larger stage of the US, are equally evident. You have a bloated government degraded by its power, choking on its own neck fat (debt), foisting ridiculous and ineffective regulations and policies on a spineless public who has been trained through media and overt intimidation to toe the line, or else. Just as the TSA agent felt comfortable loudly joking about lording it over the passengers unfortunate to be in his queue, the US government feels comfortable ignoring principles, morals, and ethics that, until recently, pretty much defined the national character. And why not? Anyone brave enough to “see something and say something” – at least as far as government overreach is concerned – will, as the recent IRS and AP cases demonstrate, quickly find a target painted on their back. And so it was that we shuffled through the final security lines and onto our plane back to Vermont. The War on Bitcoin When I first read the government inquisitor’s comments on Liberty Reserve, my initial impression was that they were referring to Bitcoin. That’s because the terms used in describing the federal indictment for Liberty Reserve’s purported crimes read as if lifted from a Bitcoin sales brochure. Simply, the crux of the complaint is that the transactions through Liberty Reserve were designed to be outside of the central banking system and anonymous, and so were conducive to the laundering of money. It seems hard to argue that government prosecutors, in their attack on Liberty Reserve, were taking great pains to frame the argument for going after Bitcoin next. The champions of Bitcoin immediately rallied behind the BC flag, touting the fact that unlike the operators of Liberty Reserve, Bitcoin is a massively distributed system with no obvious individuals readily available for perp-walking. Now, I know I will sway no one with my comments – Bitcoin has that sort of dedicated followers – but, in my opinion, having laid hands on the people behind Liberty Reserve, the governments will now publicly crush their bones as part of deterring the average person from wanting anything to do with Bitcoin, or, for that matter, any other non-sanctioned e-currency. Moreover, I suspect it is the first shot in a wider campaign to scare away heretofore vocal and visible champions of Bitcoin, the “thought leaders” that have been so helpful in Bitcoin gaining market share. Is publically advocating the use of Bitcoin the equivalent of publically advocating a money laundering service? Could such an advocacy result in your arrest and confinement? Don’t know… maybe you’d like to push the outer edge of the envelope and find out? (Do criminal defense lawyers accept bitcoins? You could find that out, too.) Regardless, I think it is as certain as certain can be that the government is preparing to wage war on Bitcoin – and that will scare off merchants who accept Bitcoin, or who were contemplating it. While individuals may be able to fly below the radar, merchants who need to advertise their willingness to deal in bitcoins offer up a fixed target. Okay, I suppose you could get away with it on Silk Road, but for demand for Bitcoin to grow – very definitely a driver of its value – it needs distribution. With regular folks and merchants alike deciding the risk is not worth the possible reward of dealing in BC, demand and prices will be capped. While it’s hard to tell how Bitcoin will ultimately fare… I think the right questions we as possible consumers of the e-currency have to ask is, (a) whether its value is intrinsically linked to its ability to operate in the open, and (b) whether it can withstand a full-on government assault. And never for a minute lose sight of the fact that the government defines the rules. If your permanent government file might be amended to flag you as a possible anti-government revolutionary solely for visiting a Bitcoin-related website, would you take the risk? Though I certainly appreciate the effort to launch an alternative, anonymous currency – I see Bitcoin as V.1. in that regard and very much susceptible to being mugged by the monetary mafia running this joint. Maybe I would buy some solely for entertainment purposes, but for anything resembling real money, I’ll take things more tangible. The Changing Face of Main Street Living in a small town in the middle of nowhere in Argentina very much changes one’s priorities. In my opinion, for the better. For instance, given the lack of big stores and easy access to consumer goods, you quickly come to understand what you actually need to live a good life… fresh food, basic transportation, good friends, and, as a real luxury, domestic help. In the US, by contrast, it is easy to become convinced that a fulfilled life requires the latest in an unceasing river of electronic gadgets, fancy cars, etc., etc. Case in point, I deliberately only took a small wardrobe to Cafayate – a handful of shirts, a couple of jeans, underwear, socks, etc. As the place is very informal, as there’s no need for cold-weather gear, and as we have a maid that washes five days a week, there’s never a risk of running short of anything. Only on returning to the States did it dawn on me just how much “stuff” we have accumulated over the years, starting with a large closet overflowing with clothes for every occasion… much of which I almost never wear. Then there are the toys and electronic gadgets and other clutter, each piece of which I had become convinced at one point or another that I simply had to own – but now that I do, for the life of me I can’t remember why. But that’s sort of the point. In the US, especially, exceptional marketers are supported by technology that makes shopping ridiculously easy. Thus, once you become convinced you simply must own something, the thing almost falls into your lap. That is very much not the case in a small town in Argentina or, for that matter, thanks to the anti-trade stance of government there, in the big city either. Yet, yesterday, needing a new headset for my computer (I left mine in Argentina), I stopped in at three local retail stores of the sort that would typically be expected to carry headsets and was surprised that not only they didn’t carry them, but that their inventory of anything at all was positively skeletal. In each case, the clerk apologized and offered to order it for delivery later in the week. Given that I am entirely capable of logging onto Amazon and choosing from a seemingly limitless array of headsets, I politely declined and, on returning home, did just that – ultimately selecting a pair from over 63,000 offerings with the help of a convenient rating and review system. As a result of this experience, I was reminded that the very nature of commerce in the US has gone through a profound shift over the last decade. No longer can mom and pop hope to set up shop on Main Street and successfully sell anything other than items appealing to instant gratification (ice cream, prepared food, candy bars, wine, etc.), or services related to existing goods (dry cleaning, car repair), or services related to navigating the complex society (accounting, legal). Pretty much everything else falls under the purview of the online merchants or the mega-box stores that can afford to carry a big enough inventory of reasonably priced products to compete with the online sellers. In time, even the big-box stores won’t be able to compete with infinity, however. Interestingly, though, online sales are still only about 5% of total retail sales in the US. This despite the latest surveys that show that, across all demographic groups, about 41% of the public prefer shopping online. Which, of course, means that 59% of the people prefer to do their shopping in stores. To me this feels like the sort of crossroads that must have arisen during the early adoption of the “horseless carriage”… when a majority of people, when asked, would have sworn by old Betsy and vowed to never change. It feels like opportunity to me, as the creative destruction of the Internet moves inexorably forward. Of course, it’s just a matter of time before widespread changes in the tax structure stop giving the online retailers a tax advantage over local merchants, but all that will accomplish is to cause consumer prices to rise. That still cannot address the distributed merchandising model such as used by Amazon that means if they don’t have exactly what you’re looking for, one of their tens of thousands of affiliated merchants will. Young people in America face the real challenge of finding a way to succeed in an economy on the downslope, where government regulations and labor-related costs make employees a liability and not an asset. I think Internet retailing is one of the few real bright spots, convinced as I am that it is still in its infancy. Dear Reader, When last I wrote, it was from my favorite place in the world, Cafayate, Argentina, as I prepared to return to the United States for the Northern Hemisphere summer. Leaving off, I was positively brimming with the health and vigor of life lived large in the big-sky country of the Argentine outback. Unfortunately, immediately upon arriving back in the US, I was laid low by a high fever, exacerbated by a week-long absence of the sun, and topped off with a spell of freezing temperatures and even snow… this at the end of May! Today, a week and a bit later, I’m mostly recovered though still periodically hacking like a TB patient. Other than a single afternoon, the sun has put in sporadic appearances, and the forecast for the next three days is more of the same. Ugh. Given the backlog of work that has built up during the transition back north, compounded by the unexpected bed rest, I don’t think I’ll get stuck in any particularly long or complicated themes today, but instead plan on sharing some briefer observations that have come to mind since my return. Human Nature One of the advantages of flying into the US via Asunción is that relatively few Americans traveling to the Southern Cone include Paraguay on their itinerary. I’m not sure why, but when mentioning my tangential affection for Paraguay to an American, I invariably get the same sort of look I imagine would be given on announcing I enjoy vacationing in the rougher parts of the Democratic Republic of Congo. Regardless, unlike traveling from Buenos Aires, which is hugely popular among Americans, a US citizen arriving at JFK airport from Asunción has the “US Citizens Only” line pretty much to themselves. While it is irksome to have any institutionalized interference in one’s travels, in fairness, the processing back into the US as a citizen is mostly painless, a quick question or two followed by a “Welcome back.” Thus welcomed, we had to gather our bags, change terminals, and recheck in for the continuing flight to Burlington, Vermont, the nearest big city to our home here. As the bags took a surprisingly long time to spew forth onto the luggage carousel, the leisurely connection time we had allowed for was greatly diminished, resulting in something of a scramble in order to make our connecting flight. Thanks to the AirTrain at JFK, once we had bags in hand, we made solid progress before once again getting hung up in the “baggage drop” process at JetBlue where the line was both long and slow. In Argentina I have become comfortable with patiently waiting in lines; however, back in the Land of the Efficient, I found my stress level rising thanks to the uncaring inefficiency. To wit, even though the line was well backed up, the airline had only two people working the counter, and one of those was tied up with a problem case (there’s always at least one). Thus what should have been a quick and painless operation dragged out for the better part of thirty minutes. Finally, with our flight time rapidly approaching, it was time to run the security gauntlet, stepping into a rope chute leading, side by side with another chute, to a podium whence a TSA operative was charged with checking the tickets and credentials of passengers. While one should give credence to differences in metabolic functioning – people process body fat more or less efficiently, leaving some people effortlessly thin while others have to fight a constant fight against weight – the only conclusion one could reasonably draw in the case of this particular TSA security officer was that he had long ago given up any pretense of dietary restraint or physical activity more strenuous than lifting cupcakes to his lips. As a result, rather than sitting in his high chair at the podium, he pretty much enveloped it with unflattering rolls of body fat cascading droopily over the side of his belt and dangling, jiggling, to the level of his seat. The idea that this was “America’s first line of defense” would have been somewhat funny if we hadn’t been in such a hurry and hadn’t known that to proceed, we first had to bow and scrape to his satisfaction. Even so, I’m a go-along-to-get-along kind of guy, especially when it comes to getting along to my flight, so I waited patiently for my turn at the podium. Which gave me about ten minutes in relatively close quarters to watch this first responder in his dealings with the public. Encouraged by the presence of a bland-countenanced female TSA officer who was standing nearby in order to observe him, I guess as a trainee, the human roadblock cavalierly split his attention between her and the two streams of passengers, one on his right and one on his left, that met up at his podium. The conversation went something like this… Jabba the TSAHutt (turning to his female trainee, but loud enough for us wannabe passengers to hear): “Oh, sometimes I get in a devilish mood, like now. So I ask people annoying questions such as…” (turning to the nondescript woman waiting on the right side of the line, taking her ticket and ID in hand and examining it)… “So, what’s your name?” Waits for her to answer, “And where are you going today?” That he already has the information directly at hand is part of the joke, which he acknowledges by turning back to the female trainee and winks, “See?” Moving at the speed of a slow glacier, he dragged the farce out for all it was worth, constantly pausing to make quips to the trainee, then leisurely turning back to ask the travelers similarly ludicrous questions, pausing every minute or so to stop a line and command people to step back away from the podium – even though if anyone encroached on some invisible line, it was by an inch or two as far as I could see. But he was having a grand old time, yakking it up with the emotionless TSA trainee (if she was getting the humor, she wasn’t showing it, but that didn’t seem to register with him), and treating the public like slow-witted children. I vividly recall the expression of a distinguished older couple in their seventies as they made their way slowly towards the TSA joke… er, joker. Written across their faces were a litany of emotions from anger and thinly disguised disdain to embarrassment that America had come to this. The husband visibly gritted his teeth when Jabba shoved a mitt in front of his wife’s face when she, too, came too close to the imaginary line separating the public from his official podium and said in his best imitation of a real cop, “Back away from the podium!” Finally, mercifully, it was our turn, which meant we might still make our flight. Like everyone else, I had to reply to his nonsense questions that had nothing to do with anything, then stand by while he similarly grilled my children. “What’s your name? Where are you traveling? Are these your parents? How old are you?” Then it was on to the backscatter X-ray machines, assuming the humiliating hands-over-the-head position, leaving us with only a couple of minutes to spare to make our already boarding flight. Now, I mention all of this not just to gripe about how degraded the travel experience in America has become – and it’s nothing like this anywhere else I have traveled in the last decade – but as a lead-up to a quick comment or two about human nature. You see, while the whole “show” was grating, the TSA officer was acting entirely in sync with human nature. For starters, he was showing off to a member of the opposite sex. Hasn’t that been a primary driving factor behind the actions of men since time immemorial? In addition, he was clearly imbued with the power that members of America’s security apparatus find so attractive. Everyone likes power, but for a person who has let themselves personally degrade to the point where he’s just a couple of Sloppy Joes away from drowning in his own neck fat, the TSA is pretty much the only job in the world that he can hold down with minimal effort and that offers power as a perk. But the psychological aspects run deeper than just that, because in the same way that white trash attempts to boost their ego by looking down their nose at Mexicans or blacks – this particularly poor specimen of humanity is able to find some modicum of self-respect in harassing and humiliating others, and being able to do so without fear of blowback. And thanks to the stultifying and downright stupid policies of the Fed, hand in glove with the government, over the last couple of decades, the aging population has been left horribly unprepared for their retirement, and hugely at risk to the next leg down. This from the Washington Post today… From the peak of the boom to the bottom of the bust, households watched a total of $16 trillion in wealth disappear amid sinking stock prices and the rubble of the real estate market. Since then, Americans have only been able to recapture 45 percent of that amount on average, after adjusting for inflation and population growth, according to the report from the St. Louis Fed released Thursday. In addition, the report showed most of the improvement was due to gains in the stock market, which primarily benefit wealthy families. That means the recovery for other households has been even weaker. “A conclusion that the financial damage of the crisis and recession largely has been repaired is not justified,” the report stated. And this… The Fed is spending $85 billion a month to lower long-term interest rates and stimulate the economy. It has also kept short-term interest rates to near zero. That has helped push stock markets to record highs, while home prices have jumped by the most in seven years. Consumer confidence is at its highest point since February 2008. Officials hope those factors will eventually result in more consumer spending power. Here’s the full article. So, in essence, the stock market, which the Post actually conflates with the economy, is being propped up by the Fed… as is the housing market. So, riddle me this, what happens when the Fed stops spending $85 billion a month? The answer is as clear as it is obvious. The Fed can’t stop QE, or if it does, it can’t stop it for long. This effectively leaves only one option to government policy makers – competitive currency devaluations of the sort that Japan is now pursuing. This despite the clear implications to the future of the fiat currencies. I thought the following, from Bloomberg earlier this week, pretty much says all that needs to be said on the situation… Koichi Hamada, an economic adviser to Japanese Prime Minister Shinzo Abe, told South Korea to adjust its own monetary policies if officials are concerned at the effects of a yen weakened by unprecedented easing. “Each country can take care of itself through its own monetary policy,” Hamada, 77, said in an interview in Tokyo yesterday. South Korean officials “shouldn’t blame the Japanese central bank, they should demand the Korean central bank have a proper monetary policy,” he said. South Korean exporters such as Hyundai Motor Co. stand to lose ground to Japanese rivals because of the yen’s 20 percent slide against the dollar in the past six months. The currency’s decline is adding to the risk of deteriorating relations between the nations, after South Korean Finance Minister Hyun Oh Seok said last month that the weak yen is a bigger economic risk than North Korean threats. In other words, it’s every country for itself. Buy gold with confidence. Reason #2: Declining Global Gold Productioncenter_img David Galland Managing Director Casey Research As Doug Casey has often pointed out, mining is a hated industry. Starting up a new mine, or even expanding an existing one, is viewed in much the same light as starting up a nuclear plant on a geological fault. As a result, despite prices having better than quadrupled over the past decade, gold mine production has peaked and is trending down. Even Chile, a country that has seen its fortunes substantially improved thanks to its mineral legacy, is now turning its back on the miners. This from Reuters yesterday… OPPOSITION TO MINING PROJECTS Opposition by environmental, indigenous and community groups to mega mining and power projects has led to a series of setbacks to billion dollar investments in Chile, the world’s No. 1 copper producer. Despite being one of Latin America’s most stable, prosperous countries, Chile suffers from high levels of income inequality, and many in the Andean nation feel a mining boom has bypassed them and harmed the environment. Pascua-Lama is one of the most unpopular mining endeavors in Chile. Many opponents are incensed that it has produced environmental harm and are particularly worried about the project’s effects on glaciers. Climate change has shrunk Andean glaciers between 30 and 50 percent since the 1970s and could melt many of them away altogether in coming years, according to a study published in January in the journal The Cryosphere. Separately, Chile’s judiciary is seen taking all of 2013 to weigh the indigenous allegations against the project, setting the stage for a protracted, costly legal battle. Critics say unclear Chilean regulations have contributed to a legal limbo that has led to the suspension of plans for hydropower projects in Patagonia, thermoelectric plants across the country and major copper mines high in the Andes. Here’s the entire article. Now, just to be clear, Pascua-Lama is located between 12,500 and 17,000 feet high… altitudes that are just shy of being fatal to the human species. The idea that there is a thriving community of “indigenous” people living the life at that altitude is a bad joke. The point is this: if a company is willing to actually spend the $8.5 billion required to bring a mine into production in a purportedly mining-friendly country in a remote corner that would otherwise be uninhabited, and it is blocked, then what are the odds of the industry being able to continue to move new projects into the pipeline? Somewhere between slim and none, and Slim just keeled over from altitude sickness. Reason #3:  Physical Demand While no one can say with complete certainty when the bottom will be put in for gold, there is abundant evidence that at a price of under $1,400, there is a deep well spring of demand. Support for this contention is abundant – for example, just this week… Asia gold demand to hit quarterly record, absorb ETF outflow-WGC LONDON, May 29 (Reuters) Asian gold demand from this April to June will reach a quarterly record as bullion consumers in the region take possession of supply freed up by selling from exchange-traded funds (ETFs), the World Gold Council (WGC) said on Wednesday. Gold prices fell to their lowest in more than two years at $1,321.35 an ounce in mid-April on signs of economic improvement in main markets and fears that central banks around the world could start to curtail their bullion-friendly policy measures. The council expects Indian gold imports to reach 350-400 tonnes in the second quarter, 200 percent higher than a year earlier and almost half of last year’s total imports. This also compares to imports of 256 tonnes in the first quarter of 2013. “We now definitely expect Indian demand to come in at the upper end of the 865 tonnes to 965 tonnes range that we had previously forecast for 2013 because of the effect of what happened in April,” Grubb said. Grubb said as net imports of gold into China reached around 160-170 tonnes in April alone and physical demand shows no sign of abating, total off take this year could reach more than 880 tonnes. This compares to a previous forecast of 780-880 tonnes. The implication is that the market is able to calculate the value proposition of owning gold over paper and, below $1,400, is clearly choosing gold. And it’s not just individuals, but institutional investors and even central banks. There are other reasons for the base case for gold remaining intact, including the very real potential of a black-swan event related to the mega-trillion dollars in derivative positions, but the combination of locked-in currency debasement, pressure on supply, and pent-up demand gives me all the reason I need to continue viewing short-term fluctuations to the downside with no concern, other than as a potential opportunity to add to positions. Friday Funnies High School 1957 vs. 2012 Scenario 1: Jack goes duck hunting before school and then pulls into the school parking lot with his shotgun in his truck’s gun rack. 1957 – Vice principal comes over, looks at Jack’s shotgun, goes to his car and gets his shotgun to show Jack. 2012 – School goes into lockdown, FBI is called, Jack is hauled off to jail and never sees his truck or gun again. Counselors are called in for traumatized students and teachers. Scenario 2: Johnny and Mark get into a fist fight after school. 1957 – Crowd gathers. Mark wins. Johnny and Mark shake hands and end up buddies. 2012 – Police is called and SWAT team arrives – they arrest both Johnny and Mark. They are both charged with assault and both expelled even though Johnny started it. Scenario 3: Jeffrey will not be still in class, he disrupts other students. 1957 – Jeffrey is sent to the principal’s office and given a good paddling by the principal. He then returns to class, sits still, and does not disrupt class again. 2012 – Jeffrey is given huge doses of Ritalin. He becomes a zombie. He is then tested for ADD. The family gets extra money (SSI) from the government because Jeffrey has a disability. Scenario 4: Billy breaks a window in his neighbor’s car, and his dad gives him a whipping with his belt. 1957 – Billy is more careful next time, grows up normal, goes to college, and becomes a successful businessman. 2012 – Billy’s dad is arrested for child abuse, Billy is removed to foster care and joins a gang. The state psychologist is told by Billy’s sister that she remembers being abused herself, and their dad goes to prison. Billy’s mom has an affair with the psychologist. Scenario 5: Mark gets a headache and takes some aspirin to school. 1957 – Mark shares his aspirin with the principal out on the smoking dock. 2012 – The police are called and Mark is expelled from school for drug violations. His car is then searched for drugs and weapons. Scenario 6: Pedro fails high school English. 1957 – Pedro goes to summer school, passes English, and goes to college. 2012 – Pedro’s cause is taken up by the state. Newspaper articles appear nationally explaining that teaching English as a requirement for graduation is racist. ACLU files a class-action lawsuit against the state school system and Pedro’s English teacher. English is then banned from the core curriculum. Pedro is given his diploma anyway, but ends up mowing lawns for a living because he cannot speak English. Scenario 7: Johnny takes apart leftover firecrackers from the Fourth of July, puts them in a model airplane paint bottle, and blows up a red ant bed. 1957 – Ants die. 2012 – ATF, Homeland Security, and the FBI are all called. Johnny is charged with domestic terrorism. The FBI investigates his parents, and all siblings are removed from their home and all computers are confiscated. Johnny’s dad is placed on a terror watch list and is never allowed to fly again. Scenario 8: Johnny falls while running during recess and scrapes his knee. He is found crying by his teacher, Mary. Mary hugs him to comfort him. 1957 – In a short time, Johnny feels better and goes on playing. 2012 – Mary is accused of being a sexual predator and loses her job. She faces three years in state prison. Johnny undergoes five years of therapy. Knowledge is knowing a tomato is a fruit. Wisdom is not putting it in a fruit salad. It’s No Fun Getting Old My new neighbor is single and lives right across the street. I can see her house from my living room. I watched as she got home from work this evening. I was surprised when she walked across the street in the rain and up my driveway. She knocked on my door. I rushed to open it. She looked at me and said, “I just got home, and I have this strong urge to have a good time, get drunk, and have sex all night long! Are you busy tonight?” I immediately replied, “Nope, I’m free… I have no plans at all!” Then she said, “Good! In that case, would you look after my dog?” It’s no fun being old!!! And With That… I’ll sign off for the week by thanking you for reading and for being a Casey Research subscriber. Before I duck, I will also remind you that registration is now open for the only Casey Research Summit to be held this year – and it’s going to be a great one. The faculty, led off by Dr. Ron Paul, is truly exceptional. Most speakers, including Dr. Paul, are scheduled to participate side by side with attendees throughout the entire event as we systematically examine the truth behind today’s global economy and investment markets. The dates are October 4, 5 & 6, the location is Tucson, Arizona. Here’s a link to learn more and to sign up today while the early-bird registration pricing still applies. Until next time…last_img read more

In This Issue   Bias to sell dollars remains w

first_imgIn This Issue. *  Bias to sell dollars remains weak. *  One more day until D-Day. *  London calling. *  James Rickards on a Gold Manipulation end. And, Now, Today’s Pfennig For Your Thoughts! Will We, or Won’t We? Good day.  And a Wonderful Wednesday to you! Well, looky here! It’s Rocktober 16th! 16 days in Rocktober have flown by very quickly, leading us to tomorrow, the 17th, when all hell is supposed to break loose. China, the U.S.’s largest creditor, sent a message to the U.S. lawmakers urging them to raise the debt ceiling, and the Tea Party responded, “Butt out”  Recall, that I told you a couple of weeks ago, that this was all going to get ugly, and it appears to be heading in that direction in a  hurry! “The U.S. must shoulder its responsibility as the world’s biggest economy and holder of the main reserve currency and take concrete measures before Oct. 17 to avoid a default,” said Deputy Finance Minister, Zhu Guangyao. He then went on to mention the Tea Party. Well, those may end up being fightin’ words!  But. before this tempest in a teacup gets blown out of proportion, let me say that I personally don’t think China is that concerned with the U.S. defaulting, but instead look at this as a chance to lay down the soundtrack that will be played over and over again in the future, when they can remind everyone that they tried to warn the U.S. but they failed to listen. So. Here we are, at the precipice of what could be a very momentous, historical event. That I still think is just a bunch of drama, just like it was in 2011 and what did we get out of that hand wringing, sweat dripping, sawdust on the floor, drama? Well, we got some debt cuts on future spending increases over the next 10 years. Was it really worth losing our AAA rating with S&P over that? Well, the ratings agency Fitch says their AAA rating for the U.S. is “under watch”. The Treasury Bond market isn’t fazed by all of this, as yields remain steady Eddie. The U.S. dollar also isn’t too fazed by all of this, as the dollar index remains around 80. U.S. stocks seem to be caught in the middle, but all the trading in these assets, seems to be muted, as if there’s a “lock-down order” on them. Now, I don’t know who could put a “lock-down order” on stocks and bonds, do you? ” HA!  Gold seems to be the only asset class that has really taken it on the chin with the U.S. dangling a default in front of the markets’ eyes.  To me, someone who normally thinks logically about stuff, seeing the reality of a situation long before most, I would think that stocks, bonds and the dollar would be getting the snot knocked out them, while Gold would be soaring.  My longtime friend, and one-time mentor in bond trading, Ed Bonawitz, always used to remind me that the “markets are never wrong”. You can think you are so right, and the markets are wrong, but the markets can remain irrational longer than you can remain solvent. So. This is what we have to work with these days. Of course tomorrow could be a whole different ballgame. Remember what the rock group Pink Floyd sang about. “It’s a battle of words, and most of them are lies”. Man, the lawmakers must be sitting around with their IPods and headphones, listening to Pink Floyd!  HA! Right, and my first wife was a young Elizabeth Taylor, yeah, that’s the ticket! The great Steely Dan song, Black Friday, is playing right now.. That could very well be playing out in a couple of days, eh? When Black Friday comes, I’ll collect everything I’m owed, And before my friends find out, I’ll be on the road.  Oh, and this is great! That song was followed by Kansas doing “play that game tonight”. That’s exactly what the lawmakers will be doing tonight!  Remember what the analyst told us last week about what happens when you attempt to wait until the 11th hour to do a deal? That things could go awry, and then no deal is done!   This is the risk in the markets, although, as I said above, I just don’t see this default happening, now that is. So. the bias to sell dollars remains in the markets this morning, but as I said above, it is muted. The euro recovered its lost ground yesterday, and has added a bit today, while the Aussie dollar (A$) is also up a bit. Gold did a quick recovery yesterday morning, gaining back the $20 it was down when I was writing. That was an interesting move for Gold, given that the 4 previous days, it got taken down about the same time each morning. The shiny metal is off a couple of bucks today. Well, the $20 hit that Gold was taking on yesterday morning, was reversed in the early hours trading on Tuesday. So, for once, the trading pattern of early morning (when NY Traders arrive) taking Gold to the woodshed, didn’t happen yesterday.  Were the NY Traders still making their way home from Hamptons?  That would be my guess! But the analysts that refuse to see the truth, would tell us that the price action in Gold is all about whether the markets believe the U.S. will default.  The trading pattern would then lend itself to be one of: buy Gold if it appears the U.S. won’t default, and they will continue to build debt, and print money, and sell Gold if it appears that the U.S. will default. All last week, as we experienced Groundhog Day over and over again, it appeared as though lawmakers would be happy to brings us to the doorstep of default.  And yesterday, it appeared that a deal was in the making. But NOOOOOOOO! I always check the headlines of the Drudge Report each afternoon. The Headlines, in most cases, are better than the actual stories, and yesterday afternoon, one of the headlines read: “It’s All Fallen Apart”  Now, that’s not going to give anyone a warm and fuzzy, eh? OK, let’s talk about something else, this debt/ default stuff is giving me a rash!  Oh! How about the story on the Bloomberg this morning talking about the U.K. joining Taiwan and Hong Kong as a country that will be able to take part in a program allowing offshore renminbi / yuan to be invested in Chinese securities. An $13 Billion (in dollar terms) quota for investors in London to buy onshore assets was approved by China overnight. Folks, I don’t know of any other way I can tell you, other than the way I’ve told you for the last few years. This is just another step China is taking to eventually get to an internationally traded currency. Remember how I told you last month that China had opened the pilot areas where the renminbi / yuan can be converted.  I think that China has really stepped up the pace of their plans to remove the dollar as the reserve currency of the world, and replace it with the renminbi / yuan. China is finally opening up their financial sector. They have removed the dollar’s relevancy in the terms of trade in countries throughout the world, they have become the world’s creditor, they have begun to allow convertibility of their currency. It’s all right there before our eyes, folks. Oh. And China allowed the renminbi/ yuan to reach a 20 year high VS the dollar (low in their price number, remember renminbi is a European priced currency, which means that the lower the price number goes, the more value it returns)  In the past year, we’ve had so many renminbi investors lose their patience, and sell. Well, if they held renminbi long enough, they had some nice gains to take. But, to eventually hold the reserve currency of the world? Isn’t that worth waiting for? There was a good story on MarketWatch yesterday, that caught my eye. The title read: 5- Countries Whose Bonds Are Safer Than Treasuries. Let’s listen in to a bit of what the writer, Brett Arends has to say here:  “According to the International Monetary Fund (IMF), the U.S. government’s net debt is now 89% of gross domestic product. By contrast, Germany-often thought of as Europe’s most financially sound nation-has net debts of only 56% of GDP. But if you want really, really safe, you should look a little further north of there-or a long way south. Scandinavian countries, and the Antipodes, have the best financial picture of all. New Zealand’s net debt is just 29% of its economy, and Australia’s is just 13%, according to the IMF. The Governments of Sweden and Norway are actually sitting on net assets. In other words, their Governments’ assets exceed their liabilities. Norway has by far the strongest finances on the block. If you imagined a country that managed its financial affairs perfectly, it would look like that. Seriously.” -Brett Arends Chuck again, the other country he mentions in his story was Denmark, who’s debt runs a mere 10% of GDP.  Now. the only country I think he missed here, and probably because it’s viewed as a closed economy that’s difficult to deal in, and that would be China. Whenever I go out on the road and talk about ways to diversify, I always talk about foreign bonds and stocks, but mostly about foreign bonds. Many long time readers know that I got my feet wet in the foreign markets by being a foreign bond trader for the old Mark Twain Bank. So, foreign bonds are part of me. The way I always told the salespeople to talk to investors about foreign bonds is that it’s an excellent diversification tool, and gives you a longer view on a country and a currency, while hopefully giving you a pickup in yield over U.S. deposits. At EverBank, our NASD affiliate brokerage firm, EverTrade Direct, executes foreign bonds and stocks. Brokerage is not Bank, and they are not deposits of the bank, but that doesn’t make them any less of a great diversification tool! OK. that was a nice change of pace, talking about foreign bonds, eh?  It’s funny, but when people stop me and ask me to list my best currencies, the list looks pretty much like the one that Brett Arends listed. So, there you go! I found it interesting that New Zealand was on his list. The do have a smallish debt to GDP ratio, but their Current Account Deficit is not good, and has been weighing on the currency (kiwi) ever since the Reserve Bank of New Zealand (RBNZ) had to make the 2 emergency rate cuts a couple of years ago to help out after the earthquakes in New Zealand. Well, last night, New Zealand printed their latest CPI (consumer inflation), and it surprised to the upside! OK. I’ve been telling you that the recent data, and RBNZ talk is that it’s about time to reverse the emergency rate cuts, well. This data doesn’t water down that talk one bit. In fact, I think it is just another notch in the rate hike belt for early 2014, and those that are seeing this, like I have seen it, are pushing kiwi higher each day. Before I head to the Big Finish this morning, I thought I would share this funny with you from Jay Leno last Friday night. “It is now day 11 of the government shutdown and we knew sooner or later something like this was going to happen. Despite the national parks being shut down, several men were severely mauled by bears yesterday. But enough about the New York Giants” – Jay Leno For What It’s Worth. OK, long time readers know that I truly appreciate the things James Rickards has to say. And this morning, I have a couple of snippets from an interview that was on the GATA website with James Rickards, talking about Gold manipulation. Let’s listen in. “Central bank manipulation of gold markets can and will last until physical shortages become so acute that banks and exchanges can no longer deliver on futures and forward contacts when requested by customers. At that point, contracts will be terminated and exchanges will order that trading be conducted “for liquidation only” which means that futures customers can close out or rollover contacts, but they cannot receive physical delivery of gold. The signs that the manipulation is coming to an end will include depletion of warehouses, price spikes and notifications from banks that they will no longer allow the conversion of gold forward contacts into physical gold.” – James Rickards Chuck again. When asked if he anticipated an overnight ending of manipulation or a progressive process, James Rickards replied: “Both. The process will proceed slowly at first, then gain momentum, then reach a panic buying stage where the termination of deliveries under futures and forward contacts will be announced very suddenly. At that point, physical gold will be scarce and interested parties will not be able to acquire it in small quantities at any price.” Chuck again x 2. I would pay attention to what James Rickards has to say folks. That just my opinion, of course!  But who else has come out with this scenario? To recap. We’re down to the last day before the expiration of the extraordinary measures that are keeping the country paying its bills.  The markets don’t believe a default will happen, and neither does Chuck, although he does admit there is a risk that an 11th hour deal might fail. Fitch puts the U.S. AAA rating on watch. that should have sent Treasuries to the woodshed, but it didn’t. New Zealand CPI printed stronger than expected, thus putting everything in alignment for a rate hike early in 2014, pushing kiwi higher. Currencies today 10/16/13. American Style: A$ .9535, kiwi .8420, C$ .9645, euro 1.3560, sterling 1.6045, Swiss $1.0985, . European Style: rand 9.96, krone 6.0050, SEK 6.4975, forint 218.20, zloty 3.0770, koruna 18.9350, RUB 32.23, yen 98.30, sing 1.2440, HKD 7.7545, INR 61.84, China 6.1408, pesos 12.96, BRL 2.1775, Dollar Index 80.34, Oil $101.36, 10-year 2.72%, Silver $21.23, Platinum $1,391.60, Palladium $708.85, and Gold. $1,281.50 That’s it for today. My beloved Cardinals moved within one win of going to the World Series. We were here last year too, with a 3-1 games lead, and lost 3 consecutive games to the Giants, I hope that they learned something from last year. It’s an afternoon game today, so I’ll actually get to see the whole game! Let’s hope it’s something I want to see! Jen is out in LA to attend the game today, now that should be fun! I was asked to go, but I’ve been having too many problems with my stomach to risk a 4 hour flight! So, I sent Jen, who is the biggest baseball fan I’ve ever met, for a female that is! The morning air was quite chilly when I walked across the bridge from the garage today. I guess it’s time to get out the jacket. UGH! Because I know what follows that.  And soon I’ll be complaining about how cold it is, and how I want to go where it’s warm! So, you have that to look forward to! HA!  Hey.. go out and have a Wonderful Wednesday! Chuck Butler President EverBank World Markets 1-800-926-4922 1-314-647-3837last_img read more

The attorney general of Oklahoma goes to court in

first_imgThe attorney general of Oklahoma goes to court in an unprecedented case this week.The state is charging drugmaker Johnson & Johnson with “a cynical, deceitful multimillion dollar brainwashing campaign” in order to sell opioids, according to The Guardian..The civil case is the first time a pharmaceutical company has gone to court over responsibility for the opioid epidemic. The Department of Health and Human Services estimates that more than 130 people died every day in 2017 due to opioid-related causes.The case comes amid another landmark lawsuit filed in March against Purdue Pharma LP, the company behind the narcotic OxyContin. “More than 600 cities, counties and Native American tribes from 28 states have filed a federal lawsuit against eight members of the Sackler family,” CNN reported. The Sackler family owns Purdue Pharma.More from CNN:Like other suits that have been filed, this one alleges the Sackler family made a fortune by using deceptive marketing to sell addictive and potentially deadly painkillers.“Eight people in a single family made the choices that caused much of the opioid epidemic,” the suit says, then naming the eight defendants.“Because they controlled their own privately held drug company, the Sackler Defendants had the power to decide how addictive narcotics were sold. They got more patients on opioids, at higher doses, for longer, than ever before. They paid themselves billions of dollars. They are responsible for addiction, overdose, and death that damaged millions of lives. They should be held accountable now.”What would justice look like for those who have been affected by the opioid epidemic? Who is to blame for the crisis?Produced by Jonquilyn Hill.GUESTSJackie Fortier, Senior health care reporter, StateImpact Oklahoma; @JackieFortierKatie Zezima, National reporter, The Washington Post; @katiezezBrian Frosh, Attorney General, MarylandTom Miller, Attorney General, IowaFor more, visit https://the1a.org.© 2019 WAMU 88.5 – American University Radio. Copyright 2019 WAMU 88.5. To see more, visit WAMU 88.5.last_img read more

Glitch Sparks Ongoing Blockchain Outage Mt Gox Resurrects Site to Let Users

first_img Mt. Gox’s website is mysteriously back up and Blockchain.info is frustratingly down. Ah, the roller coaster drama Bitcoin users endure.Blockchain.info crashes, but funds remain unscathed  Blockchain.info, Bitcoin’s most popular Bitcoin wallet and block explorer service, blames a “bug in some database handling code” for causing an ongoing outage. Its site now reads “We Will Be Back Shortly,” and directs visitors to the company’s Twitter feed for updates.  We’re still working on the server issue, & are looking at a phased approach to bring the services online one at time. More updates to come.— Blockchain.info (@blockchain) March 18, 2014 Add to Queue Blockchain Limited Chief Security Officer Andreas M. Antonopoulos said on the company’s blog yesterday that the outage “may last more than an hour.” That was nearly 20 hours ago. A more recent blog post reports that the company is “working around the clock” to fix the problem.Related: ‘I Did Not Create Bitcoin’: 4 Major Takeaways From Dorian Satoshi Nakamoto’s Letter of DenialBlockchain.info houses some 1.4 million Bitcoin wallets, all of which Antonopoulos said are “safe” while the site is offline. He also noted that the “security of funds and the completion of executed transactions” also remain unaffected by the outage.“Unlike other services that have ownership over private keys, Blockchain is superior because it allows users to access their private keys, thus enabling them to have access to their funds under circumstances such as this,” a blog post by the “Blockchain Team” reads.Related: One-Time Bitcoin Exchange Giant Mt. Gox Collapses Amid Insolvency, Trading Allegedly Suspended Addressing mounting customer concerns, the company also posted instructions on how to import Blockchain.info funds into a Bitcoin wallet client called MultiBit. Blockchain.info customers who don’t have a wallet backup are being asked to fill out a helpdesk request.  Mt. Gox resurrects its website…Kind ofMeanwhile, signs of life are showing over at troubled Bitcoin exchange Mt. Gox. Its website, which went blank last month, is now mysteriously back up and letting users log in and check their wallet balances.But not without a hefty legal disclaimer:This balance confirmation service is provided on this site only for the convenience of all users.Please be aware that confirming the balance on this site does not constitute a filing of rehabilitation claims under the civil rehabilitation procedure and note that the balance amounts shown on this site should also not be considered an acknowledgment by MtGox Co., Ltd. of the amount of any rehabilitation claims of users.Rehabilitation claims under a civil rehabilitation procedure become confirmed from a filing which is followed by an investigation procedure. The method for filing claims will be published on this site as soon as we will be in situation to announce it.So Mt. Gox customers can at last check their balances, but they still don’t know if they’ll ever be able to retrieve their money, even partially. March 18, 2014 2019 Entrepreneur 360 List Image credit: 360b / Shutterstock.com Bitcoin Former West Coast Editor Next Article 3 min read –shares Glitch Sparks Ongoing Blockchain Outage; Mt. Gox Resurrects Site to Let Users Check Balances Kim Lachance Shandrow The only list that measures privately-held company performance across multiple dimensions—not just revenue. Apply Now »last_img read more

Ignaz Semmelweis statue unveiled at MedUni Vienna

first_imgThe clinical work, strength of character and determination that characterised Ignaz Semmelweis should serve as an example and inspiration to us all. Ignaz Semmelweis can be counted as one of the ten greatest clinical doctors in the world. He championed his theory throughout his entire life and his insights saved millions of lives. I am delighted that his memorial now stands here at MedUni Vienna – because, after Budapest, Semmelweis’s life is primarily associated with Vienna.”Béla Merkely, Rector of Semmelweis University Budapest   Feb 21 2019Gift from Semmelweis University Budapest to mark 200th birth anniversary of the “inventor” of hand hygieneThe 200th anniversary of Ignaz Semmelweis’ birth was commemorated on 1 July 2018. On Wednesday evening, a statue of the doctor, kindly donated by Semmelweis University Budapest, was unveiled at MedUni Vienna, in memory of the “inventor” of hand hygiene. The unveiling ceremony was attended by Hungarian State President Janos Ader, the first President of Vienna State Parliament, Ernst Woller, Director of Vienna General Hospital Herwig Wetzlinger, Béla Merkely (Rector of Semmelweis University Budapest) and MedUni Vienna Rector Markus Müller. The statue was created by Hungarian artist Péter Párkányi Raab.   The statue is a gift from Semmelweis University Budapest to mark the 200th birth anniversary of the “inventor” of hand hygiene. Ignaz Semmelweis was one of the most important doctors of his time and an ardent champion of medical innovation. Medicine has much to thank him for. If he were alive today, he would certainly be a favorite candidate for a Nobel prize. Sadly, his immense achievements were only recognized after his death at the tender age of 47,” said Markus Müller, Rector of MedUni Vienna, underscoring the huge importance of Ignaz Semmelweis.About Ignaz SemmelweisRelated StoriesPesticide exposure may increase risk of depression in adolescentsStudy finds slime and biofilm hidden in hospital sinks, faucetsHow measles detectives work to contain an outbreakThe Budapest-born, Viennese surgeon and obstetrician (1 July 1818 to 13 August 1865) is regarded as the pioneer of medical hygiene and a champion of medical progress. In the face of strong opposition, he established the strict hospital hand hygiene regulations in around 1847 at the first Viennese Maternity Hospital. This measure significantly reduced mortality due to puerperal (childbed) fever. Semmelweis observed that the mortality rate on obstetric wards where patients were cared for by nuns or midwives was much lower than onwards where doctors and medical students worked, since the latter also performed autopsies.Semmelweis discovered that the infections, and hence the associated mortality, were caused by the transfer of infectious material (bacteria were not known about at the time). He instructed the doctors and medical students to disinfect their hands thoroughly with a chlorine solution, and later with chlorinated lime, before each delivery or before examining a pregnant woman. This hygiene measure proved extremely effective and the mortality rate fell from a maximum of around 8% to 1.3%. Later on, Semmelweis tightened up these regulations so that doctors had to disinfect their hands before every examination, with the result that, after a few months, there were no fatalities at all.About the artistPéter Párkányi Raab, Hungarian sculptor, born in Balassagyarmat on 6 September 1967. He commenced his studies at the Hungarian Academy of Fine Arts in 1987, studying old masters István Kiss and György Jovánovics. He graduated in 1992 and three years later gained his master’s degree at the Hungarian Academy of Fine Arts. He strives for integrity in his synthetic materials and seeks beauty, grace, inner harmony and truth in his works. He sees the Semmelweis bust as a salute to the man “who saved wives for their husbands and mothers for their children”. Source:https://www.meduniwien.ac.at/web/en/about-us/news/detailsite/2019/news-im-februar-2019/statue-of-ignaz-semmelweis-unveiled-at-meduni-vienna/last_img read more

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2014 judgment of Justice Modupe Onyeabo of the Lagos State High Court in Ikeja, has condemned the ejection of five students of Isolo Senior Secondary School by their principal for putting on hijab (Muslims head cover) to school. personnel of the city fire brigade and the National Disaster Response Force (NDRF) conducted the rescue operation. my cohort was squeezed between the Greatest Generation and the Baby Boomers. declared them anti-national, rather than legislating the issuewhich will likely yield lawsuits.000 Russian troops and 500 tanks and armored vehicles in his country. "like most trade economists, are having a resurgence.000 impressions of sound per sec.

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This makes use of a rotovator, The first would be for two-thirds of M. HEALTH. An alternative cancer treatment Everyone knows the storied side effects of chemotherapy: hair loss, 2011) Many cities throughout the midwest and Northeast received 1-2 feet of snow and some even declared states of emergency. Global wildlife monitors are now worried that the burgeoning Chinese interest in hunting could wreak further havoc on vulnerable animal populations. read more