Brunswick LRA Unveils Plaque Commemorating Air Stations Legacy

first_img Dan Cohen AUTHOR The Midcoast Regional Redevelopment Authority and two local organizations last month unveiled a plaque at the former Naval Air Station Brunswick (NASB) commemorating the base’s history and its impact on the Midcoast region of Maine.The plaque, which was donated by the Brunswick Rotary Club and Village Heritage Society, was installed at Brunswick Landing’s P-3 Park, where a P-3 Orion is displayed. P-3 aircraft based at Brunswick conducted anti-submarine and maritime surveillance missions over the North Atlantic during World War II. The air station initially was established in 1943 to train U.S. Navy and Royal Canadian pilots of the British Naval Command, reported the Portland Press Herald.After the war, the air station became the major shore command center supplying logistics and personnel support to on- and off-base Navy commands, including the Navy’s supervisor of shipbuilding center at Bath Iron Works.“NASB held a strong and personal relationship with local communities and substantially contributed to the regional economy over its 68 years,” the plaque reads. The installation closed in 2011 following the last BRAC round.“I think it’s significant to remember the sacrifices that our young men and women have made for our country and Naval Air Station Brunswick was a cornerstone to that sacrifice,” said Steve Levesque, the LRA’s executive director.last_img read more

Conferees Embrace New Authority for OffBase Infrastructure Projects

first_img Dan Cohen AUTHOR A new authority allowing DOD to provide funding to state and local governments for off-base infrastructure projects has been included in the final version of the fiscal 2019 defense authorization bill. House and Senate negotiators had to make several tweaks, though, as they reconciled competing versions of the new authority for the department to award grants to address deficiencies in community infrastructure if the assistance will enhance the military value, resilience or military family quality of life at an installation.The final language sunsets the Defense Community Infrastructure Pilot Program after 10 years, a compromise between the five-year limit the Senate would have placed on it and the House’s intention to create a permanent program. The final provision adopts the Senate requirement for state and local participants to contribute at least 30 percent of the total project cost; the House had proposed a 20 percent cost share for participants. The cost-share requirement can be waived, however, for rural communities or “for reasons related to national security,” under the compromise language.A transportation project, a school, hospital, police, fire, emergency response or other community support facility, or a waste, wastewater, telecommunications, electric, gas or other utility infrastructure project would be eligible for the program, according to section 2861.In the joint explanatory statement accompanying the conference report, lawmakers underscored the value of the new authority: “The conferees note the importance of the communities that surround and support U.S. military installations and believe that this program can be of tremendous benefit to both the surrounding community and respective installations.” Lawmakers reached agreement on the conference report Monday. The House is expected to vote on the legislation this week, and the Senate possibly in August.Photo by Aaron Rosenblattlast_img read more

Golden Globes 2019 Bohemian Rhapsody Rami Malek Win Major Categories

first_img Golden Globes 2019: ‘Bohemian Rhapsody’ & Rami Malek Win Major Categories Email The Globes, which celebrates and recognizes film and television domestically, as well as internationally, also awards music in film Jennifer VelezGRAMMYs Jan 7, 2019 – 12:21 pm Music scored big at the Golden Globe awards on Jan. 6, as Bohemian Rhapsody, the music biopic about iconic glam-rock band Queen, took the award for Best Motion Picture, Drama.But that wasn’t the only win for one of 2018’s most anticipated films and the highest-grossing music biopics of all time: Rami Malek, who portrays legendary frontman Freddie Mercury, won Best Performance By An Actor In A Motion Drama. The actor thanked the band during his acceptance speech.”And of course [thanks to] Queen. To you, Brian May, to you, Roger Taylor, for ensuring that authenticity and inclusivity exists in the music and in the world and in all of us,” Malek said. “Thank you to Freddie Mercury for giving me the joy of a lifetime. I love you, you beautiful man. This is for and because of you, gorgeous.”The Globes, which celebrates and recognizes film and television domestically, as well as internationally, also honors music in film through categories, including Best Original Song.The 2019 Best Original Song award went to Lady Gaga, Mark Ronson, Anthony Rossomando, and Andrew Wyatt for “Shallow,” which they wrote for A Star Is Born. Dumplin’s “Girl In The Movies” by Dolly Parton and Linda Perry and “All The Stars” (performed by Kendrick Lamar and SZA) from the Black Panther soundtrack were among the nominees.Best Original Score went to GRAMMY-winning composer Justin Hurwitz for First Man, the film adaptation of astronaut Neil Armstrong’s life. Huriwitz won Best Score Soundtrack For Visual Media during the 60th Annual GRAMMY Awards.2019 GRAMMY Awards To Air Feb. 10, 2019, From Los AngelesRead more Facebook Twitter ‘Bohemian Rhapsody’ Wins Big At 2019 Golden Globes golden-globes-2019-bohemian-rhapsody%E2%80%99-rami-malek-win-major-categories News last_img read more

Armin Van Buuren On Expanding His Label To NYC We Feel There

first_img Email News Armin Van Buuren Talks Armada NYC Label Expansion armin-van-buuren-expanding-his-label-nyc-we-feel-there-business-opportunity-here Armin Van Buuren On Expanding His Label To NYC: “We Feel There Is Business Opportunity Here” Twitter Before taking the stage at Ultra Miami in late March, the Dutch DJ spoke to the Recording Academy about why Armada Music, with offices in Amsterdam and London, made the move to the Big AppleJennifer VelezGRAMMYs Apr 11, 2019 – 5:18 pm GRAMMY-nominated DJ and producer Armin van Buuren is staying busy. Not only did he recently premiere a few songs at Ultra fest in Miami and bring his radio show, “A State Of Trance,” to more than 100 FM stations across the world every Thursday, he’s also expanded his Armada Music label to New York City.Before taking the stage at Ultra Miami in late March, the electronic music juggernaut spoke to the Recording Academy about why Armada Music, which he founded in 2003 with Maykel Piron and David Lewis and has offices in Amsterdam and London, made the move to the Big Apple. “We believe that there is a lot of potential growth for dance music in the U.S.,” he said. “Not to say that the American labels aren’t already great, but we really want to, especially for the American acts that we sign, we wanna give them the feeling that we have actual presence in the U.S. … we feel there is business opportunity here.”The van Buuren says the offices in NYC will also work in A&R. “It all happens in New York or L.A. nowadays; All the great writing teams are there, so we have to be present there,” he said. He did his own songwriting on a song he premiered at the fest called “Phone Down,” which he wrote with Fernando Garibay. The song about modern communication, he said, is relatable to many people.”Your phone has become your only connection to your lover and we all stare at our phone so much, your smartphone is the center of your life and we wanted to write a song about that.”The DJ, who was joined by David Lee Roth of Van Halen during his Ultra set, also announced that he will bring his A State of Trance festival to Oakland, Calif. on June 29 to 25,000 people. “It’s gonna be the biggest presence a State of Trance has ever had in North America,” he said. The Woman. Collective Wants Music Festivals To Be A Safe Space For “Every One”Read more Facebook last_img read more

Why are Indians being petty after losing to New Zealand in World

first_imgThere has been unnecessary criticism of the formatSAEED KHAN/AFP/Getty ImagesMagnanimity in victory and grace in defeat are essential qualities for a sportsperson. The Indian team and Virat Kohli haven’t lacked either usually. But after this team suffered a loss in the semi-final of 2019 World Cup, among the fans and in the media, there have been unnecessary discussions about the format of the tournament.People have questioned why a team like India, which finished atop the points table and lost just one game in the league stage, is out of the tournament just because of having one bad day, and New Zealand into the final despite suffering three losses in a row at the back end of their league journey.This argument is incredibly stupid as tournaments like World Cup, across sporting disciplines, tend to have a knock-out format in their latter stages. Whether its football, handball or hockey, no major sports decides its world champion through a league format. So, what’s the big deal about India getting knocked out after losing the semi-final? Kiwis rose to the occassion while India didn’t on the big stageTwitter/Cricket World CupThen, there is the argument that World Cup should have an IPL-style format where instead of semis, there should be play-offs. Now, have you ever heard anyone suggesting that a similar format be used in football World Cups? Most probably, no.It just seems that Indians are unwilling to come to terms with the idea that there team has been knocked out. The argument that this format made India’s achievement of finishing atop points table irrelevant is equally flawed. It is because of being at no. 1 in points table that India got to play the weakest among the four semi-finalists – New Zealand.Just recall the exuberance among Indian supporters when Australia lost to South Africa and ensured that Men in Blue won’t be facing either England – the only team that defeated them in the league stage – or Australia – the second most formidable-looking side in the tournament. If the Kiwis proved too tough to beat for India, then it’s not the fault of the format that they are out of the tournament. India would have faced England if they hand’t finished atop the tableAlso, knockout matches have their own unique atmosphere and dynamics. Rising to the occasion in a semi-final or final is something that turns cricketers into legend. In fact, it is in these matches that the temperament and character of players is tested to the hilt. If a team manages to win all its matches in the preliminary stage but falls apart when it matters the most, why should that team not suffer.In short, India’s defeat and New Zealand’s win were fair and square. It’s time to congratulate the Kiwis for rising from the ashes and delivering on the big stage. Indian fans should rue things like a batting line-up overly reliant on Kohli and Rohit Sharma and a middle-order that isn’t able to deal with good spinners. These are the reasons that India is out of the event and not the format.last_img read more

In Pics 10 Times Nita Ambani gave us absolute bosswoman vibes

first_imgWe had recently shown you how Mukesh Ambani’s wife Nita Ambani looks like a vision in traditional outfits. Be it her daughter Isha Ambani’s wedding festivities or her son Akash Ambani’s lavish wedding, it was difficult to take our eyes-off Mrs Ambani. Woman of substance, elegance, charisma and charm; Nita Ambani has always emerged as a head-turner at every event.Renowned floral designer Tomas De Bruyne, who had designed Isha Ambani’s wedding set-up, had spoken about the Ambani wedding, in an interview with ET. He said, “We did something called the ‘Rolling Hills’. That was one of the most fun installations we did. They called me in for my sense of colour.” He also seemed to be in awe of the host Mrs Nita Ambani as he said, “I liked the grace, etiquette and pureness of Mrs [Nita] Ambani. She definitely knows what she wants, which is good.”Not just in the business world, even in the film fraternity, celebs are in awe of Mrs Ambani. From Ranbir Kapoor to Shah Rukh Khan; Bollywood shares a warm camaraderie with Nita Ambani. Nita Ambani is the Chairperson of the Reliance Foundation. Apart from this, Nita is also the board member of Reliance Industries and East India Hotels. She also owns the IPL team Mumbai Indians and is the Founder and Chairperson of Dhirubhai Ambani International School.Let’s take a look at 7 times Nita Ambani gave us the boss-woman vibes with her stylish attire.last_img read more

UNHCR calls for redoubling humanitarian aid for Rohingyas

first_imgThe UNHCR on Tuesday called for a redoubling of the international humanitarian response in Bangladesh, saying, the conditions for an estimated 436,000 Rohingyas who have fled to the country from Myanmar in the last month could still deteriorate.”This morning UNHCR has flown in its fourth humanitarian airlift. The UNHCR-chartered Boeing 777 cargo jet, loaded with 100 metric tonnes of aid, landed in Dhaka at 12.30pm on Tuesday. As shelter needs in south-eastern Bangladesh are acute, this flight has been loaded with shelter materials only. Two more aid flights are being scheduled,” UNHCR spokesperson Adrian Edwards told newsmen at a briefing in Geneva.Eadwards said despite every effort by those on the ground, the massive influx of people seeking safety has been outpacing capacities to respond, and the situation for these refugees has still not stabilized.”Many of those who have arrived recently are deeply traumatized. Despite having found refuge in Bangladesh, they are still exposed to enormous hardship. At the request of the Bangladesh authorities, UNHCR and our partners have scaled up protection and life-saving support to the new arrivals in Kutupalong and Nayapara camps, and extended this support to the informal settlements surrounding these camps,” he added.UNHCR is also distributing emergency shelter kits, kitchen sets, jerry cans, sleeping mats, solar lamps, and other non-food items.The UN agency said it is continuing identify and support the most vulnerable refugees such as unaccompanied children, women, the elderly and disabled, who are in urgent need of shelter, food, water, and healthcare.The UNHCR spokesperson said, “In the last week, we and partners distributed hygiene kits to some 1,900 women, while each day an average of 9,900 people received meals through community kitchens, 2,600 received other hot meals, and 4,700 received high energy biscuits.”As the population in the Kutupalong and Nyapara camps has now doubled, so have the needs for clean drinking water. In the last few weeks, the UNHCR constructed additional seven deep tube-wells, 13 shallow tube-wells, and 116 latrine chambers in the two camps to help deal with this increase.During his visit to Bangladesh in the past weekend, UN High Commissioner for Refugees Filippo Grandi discussed the importance of working towards solutions with Bangladeshi authorities, but emphasized that for now, the immediate focus has to remain on fast, efficient and substantial increase of support to those who are so desperately in need.last_img read more

Erdogan vows strong message from Islamic summit on Palestinians

first_imgTurkish President Tayyip Erdogan is greeted by his supporters outside a hotel in London, Britain on 15 May 2018. Photo: ReutersTurkish president Recep Tayyip Erdogan vowed Tuesday that a planned summit this week of the world’s main pan-Islamic body would send a “strong message” after Israeli forces killed dozens of Palestinians along the Gaza border.”The extraordinary meeting on Friday will give a very strong message to the world from Istanbul,” Erdogan said at a press conference in London with British prime minister Theresa May.He added that all members of the Organisation of Islamic Cooperation (OIC) were invited.Erdogan regards himself as a champion of the Palestinian cause and last year hosted an OIC summit in Istanbul to denounce US president Donald Trump’s decision to recognise Jerusalem as Israel’s capital.The fresh violence in Gaza on Monday, when Israel’s army killed 60 Palestinians during protests, came as the US formally moved its embassy to Jerusalem from Tel Aviv.Prime minister Binali Yildirim earlier confirmed that Turkey had called the OIC summit, saying it would be followed by a giant rally in support of the Palestinians.Which leaders may attend Friday’s meeting has yet to be made clear. But earlier, Erdogan spoke by telephone to Jordan’s King Abdullah and Malaysia’s 92-year-old new leader Mahathir Mohamad.Speaking alongside May, Erdogan warned that history would not forgive Israel or the US for moving the American embassy to Jerusalem in defiance of outrage in the Islamic world.”America says ‘I am strong and so I am right’. No, you are not right,” Erdogan said.”History will not forgive you. We will see this reality. Israel won’t be forgiven, we will see this as well,” he added.last_img read more

Mexico Rescuers Eager To Resume Work After Rain

first_img Share Twitter user @BBCWorldRescuers work to save people from the rubble on Sept. 20.MEXICO CITY (AP) — The Latest on Mexico’s major earthquake (all times local):10:15 a.m.Cristal Estrada is pacing back and forth with a blanket wrapped around her near the tent where she spent the night on the street in Mexico City’s Roma Norte neighborhood.She is worried about her brother Martin, a 31-year-old accountant, who is believed to be in the remains of a seven-story office building across the street that collapsed in Tuesday’s earthquake.Estrada says she’s frustrated that she can’t do anything herself to help remove the rubble. Rescuers continue to say there’s life in the wrecked building, but there’s no telling whether that includes her brother.Estrada worries that “they do not have much time in there.”Officials say scores of people have been rescued alive from collapse buildings, but at least 286 are known to be dead.___8:35 a.m.Rescue efforts were suspended overnight at a quake-collapsed seven-story building in Mexico City’s Roma Norte neighborhood as rain drenched the area and destabilized the pile of rubble.Workers were eager to restart under overcast but dry conditions as soon as experts confirm it’s safe to do so.Jose Gutierrez is a relative of someone believed to be in the wreckage of the building, and also a civil engineer.He gathered other families of the missing amid an ad-hoc campsite of tents, tarps and plastic chairs on Friday to let them know what was going on.A list of 46 names of missing people was attached to a nearby lamppost.Gutierrez’s voice broke with emotion as he spoke: “My family is there. I want them to get out, so … we go onward.”Rescuers from countries including the United States, Israel, Japan and Panama were at the site.___7:55 a.m.Mexican authorities have raised the death toll from Tuesday’s earthquake to 286, with more than half of them in the capital.National Civil Protection chief Luis Felipe Puente says 148 people are confirmed dead in Mexico City.He reports in a tweet sent Friday that there were also 73 deaths in the state of Morelos, 45 in Puebla, 13 in Mexico, six in Guerrero and one in Oaxaca.last_img read more

Report Fewer International Students Enrolled In Texas Schools

first_img Share X 00:00 /00:50 In Houston, over 120 campuses serve international students. One of those institutions is Houston Baptist University, which welcomes the majority of its international students from Nigeria and China. Shannon Bedo, Director of International Student Services at the university, said although her school saw more international students last fall, she expects a drop later this year.“My guess is that we will probably start seeing the effect of the decline starting this fall,” Bedo said. She also sits on the board of Study Texas, a collaborative that recruits international students to study in the state. Bedo said many of her students fear instability around immigration and come to her with rumors. “If they go home to visit their families, they are afraid their visa wouldn’t be renewed so they can come back and finish their studies,” Bedo said. Despite some uncertainty around immigration, Bedo said Houston is an attractive city for immigrants for numerous reasons including affordability, diversity, job opportunities and the medical center.  center_img To embed this piece of audio in your site, please use this code: Listen iStockInternational student enrollment in Texas schools dipped 2.2 percent to 86,076, according to a new report by Immigration and Customs Enforcement. 1,929 fewer students are enrolled in Texas schools as of March 2018, compared to the same month a year ago. The data contrasts with a slight increase in the number of Texas institutions that are certified to accept international students, now at 509 up from 500 in March 2017. The study accounted for international students pursuing K-12, university and vocational education. last_img read more

Tonight AFROs First Edition with Sean Yoes Friday September 23

first_imgListen at WEAA Live Stream: 5-7 P.M.A review of some of the top news stories of the week, directly from the pages of the AFRO with managing editor Kamau High. Plus, The Mod Squad, Taya Graham and Stephen Janis of The Real News Network report on politics and law enforcement, including the latest on the police killing of Keith Scott in Charlotte, North Carolina.These stories and much more on AFRO’s First Edition with Sean Yoes .last_img

MGM National Harbor Brings Touch of Vegas Jobs and WorldClass Amusements to

first_imgA touch of Las Vegas sits mere minutes from the nation’s capitol. After two years of construction and $1.4 billion, MGM National Harbor spent the week, prepping for a much-anticipated Dec. 8 opening that brings with its stellar branding and thousands of sustainable jobs to a region struggling to regain its economic stronghold.Along with the construction of the establishment’s 308 room hotel, 3,000-seat theater, 125,000-square-foot casino, and 18,000 square feet of retail, MGM has hired or offered jobs to more than 3,800 people – 46 percent of the employees are Black and reside in Prince Georges County.The MGM National Harbor Casino is set to open to the general public on Dec. 8. (Photos by Rob Roberts)During a preview tour of the complex, Gordon M. Absher, vice president of Corporate Communications, said that the goal with hiring county residents was to ensure that their training would allow them to join an established industry and succeed within it.“MGM is a brand that matters and those who come to us, remember how they were treated – the smiles, the attention to detail, the overall positive experience – and we wanted to train new employees on how we do things,” Absher told the AFRO. “We also wanted to ensure our workforce thrives and grows within the organization.”Absher said the Maryland Lottery and Gaming Control Agency issued roughly 1,500 casino-related licenses for the resort. And the employment center at the former Thomas Addison Elementary School on Oxon Hill Road trained residents as casino workers – including blackjack, poker and roulette workers.The 24-story resort offers 15 restaurants – including famous Harlem chef Marcus Samuelsson’s 24-hour restaurant. Marcus, said the restaurant mirrors his Red Rooster brasserie, including live music and an outdoor dining area. Additionally, Bryan and Michael Voltaggio, originally from Frederick, Md., will open their first joint restaurant, Steak House, and José Andrés is opening a themed, seafood-only restaurant called Fish within the same track.“It is unique to cook food that guests will enjoy in their hotel rooms while lying in bed or sitting on a couch, instead of in a traditional restaurant setting. The cooking has to be even more personal,” said Samuelsson. “That’s why I jumped at the opportunity to create a special in-room experience that guests at MGM National Harbor will not soon forget.”MGM National Harbor Vice President of Food and Beverage Operations Alison Bybee said, “We want MGM National Harbor to be a true culinary destination. Whether guests are dining at a restaurant, at a bar, or even in their room, they are going to experience something spectacular. Chef Samuelsson’s oversight of our in-room dining menu not only elevates the standard of our food and beverage program, but continues to push the boundaries for culinary excellence within the Capital Region.”For those with a sweet tooth, the pastry shop Bellagio Patisserie, located in the hotel’s conservatory, will house a running fountain of 4,000 pounds of dark, white, and milk chocolate, making it the world’s largest chocolate fountain.For those with concerns about traffic – the resort is expected to bring an estimated 20,000 visitors into the area daily – officials urge visitors to consider using ride-share services such as Uber or taxis, the new Oxon Hill Road extension (rather than 295), the Metro, or the new water taxi service, Potomac RiverBoat, which operates between Old Town Alexandria (right behind the Torpedo Factory) and National Harbor.“After years of planning, designing, and developing, we are thrilled that the moment is almost upon us to share this very special resort with the community and visitors from around the world,” said Lorenzo Creighton, president of MGM National Harbor. “We are grateful to Prince George’s County, the state of Maryland, and all of the local designers, artisans, and businesses that have collaborated with us to deliver this international resort with very local roots.”last_img read more

July 5 2017During the seminar week the new worksh

first_imgJuly 5, 2017During the seminar week the new workshop participants got their first work opportunity at the construction site of the new fence.[photos by Sue Kirsch]The second half of the concrete was poured on 6/21 and the crew is working on removing the form work and cutting the rebar even.last_img

In This Issue Eurozone sees strong data from Ger

first_imgIn This Issue.*Eurozone sees strong data from Germany. *Aussie employment rises along with the A$. *RBNZ leaves rates unchanged and sounds upbeat. *Gold gets whacked again.And, Now, Today’s Pfennig For Your Thoughts!Stuck In The Mud.Good day. And a Tub Thumpin’ Thursday to you! I’m already tired this morning, as I got my desk after the long walk from the garage, across the bridge and to the office, and realized that I had left something that I brought to eat for my breakfast in the car. So, I trudged back to my car, and then reversed the trip back to the office. That’s a lot of walking for me, so early in the morning! UGH!  I know, you’re saying, did you really need to eat breakfast? The answer is yes, one of the medicines I take needs to be taken with food. And now I know you’re thinking, is he ever going to get to the currencies, metals and economies? HA!Ahhh grasshoppers. Yes.. I will. But, given the tight range the currencies traded in yesterday, there’s not really much to say about their performance yesterday.  I even mentioned once yesterday that it had been a month of Sundays since I last saw the euro trade in a 10 tick range. Most of the day, the euro traded at 1.3070. And when I came in and finally got my laptop fired up, I saw the euro trading at. yep, you guessed it. 1.3070. stuck in the mud!  And this morning, the euro should have received some love from the German Manufacturing Orders data that printed for October.German Manufacturing or Factory Orders surged almost 4 times as much as the experts had forecast in October. Foreign demand was pointed out to be the reason the orders surged 3.9% from September. And then on top of that, German Business Confidence unexpectedly rose in November.  Export Sales soared 6.7% in October, and a key here to really focus on, was that an 8.5% increase in orders from outside the Eurozone.  Long time readers will recall me saying over and over again, this dance is gonna be a drag. No wait! I said over and over again that 80% of trade in the Eurozone is among the members of the Eurozone. So, when Germany is filling orders from outside the Eurozone in addition to the trade inside the zone, then that’s a good sign for the German economy, and the Eurozone as a whole, since Germany is the largest economy, by far, in the Eurozone.The Big Boss, Frank Trotter, asked the other day what I thought the biggest surprise in the markets had been in 2012.  That was an easy one for me. put it up there on the Tee. The euro is the biggest surprise in 2012 to me. For the past two years, all we’ve heard about was how the euro was going to collapse, and at the very least fall below parity.  And here we are at the end of 2012, and the euro is 1.30.   it hasn’t collapsed.  and as I tell people in my presentations all the time. “with all the negativity toward the Eurozone, the euro remains relatively strong. What does that tell you about what the markets think about the dollar?”Overnight and through the morning session so far, the Aussie dollar (A$) is the best performer. The A$ pushed higher on news that November Employment increased 13,900, VS the forecast which was flat.  The Unemployment Rate fell to 5.2% from 5.4%… A very nice and strong report, for a country that just saw interest rates cut earlier this week.  I’m sitting here smiling like the Cheshire Cat, and thinking. See, Chuck said there was no reason for cutting interest rates!  But Nooooooooo.  Nobody listens to Chuck until it’s too late. Then they say, “Hey, we should have listened to Chuck”!  The 2nd best performer overnight is the New Zealand dollar / kiwi. this currency is still on a RBNZ high.  The Reserve Bank of New Zealand (RBNZ) left rates unchanged last night, an had this to say, which has the markets lathered up and buying kiwi. “Economic growth has slowed in recent months and has been accompanied by low inflation and rising unemployment. However, over the next two years, growth is expected to accelerate to between 2.5 and 3% per annum.  The Global outlook remains soft but appears less threatening than was the case earlier in the year. The overall outlook is for stronger domestic demand and elimination of current excess capacity by the end of next year. This is expected to cause inflation to rise gradually towards the 2% target midpoint.”OK.. I know that “went on” for a bit, but I wanted to highlight that the new RBNZ Gov. Wheeler didn’t take any pot-shots at kiwi, like his predecessor (Bollard) did at every chance he could, and Wheeler sounded upbeat. and that has kiwi well bid this morning.  and in fact it has traded past .83-cents this morning!It’s not all seashells and balloons for the currencies and metals this morning. The rest of the currencies are either trading flat or down a bit. I like this though. I like it when the  currencies don’t trade together. it’s the herdball thing. you know, have your little kids or grandkids played soccer?  Well, when they are really young, it’s not soccer, it’s herdball.  But the game of soccer is much better when the kids spread out, and play the game correctly. It’s the same with the currencies. Yes, prior to 2008, you could basically throw a dart at a currency, and it would show a gain VS the dollar. But. they didn’t all move together each and every day. They traded on their fundamentals, or VS the dollar’s fundamentals.In my last article for The World Money Analyst newsletter, I talked about how I was beginning to see the “Risk On” and “Risk Off” stuff go away from the currencies. Which is a good thing, folks. because stocks, currencies and commodities, have no business trading arm-in-arm every day. These asset classes have different pricing mechanisms and a low correlation to each other, and so it has pained me so much to see currencies and commodities traded alongside stocks since 2008. But. like I said, I’m beginning to see this change, and when the currencies begin to really trade on their own, and not in the herdball fashion, then we can finally put this Risk On / Off in the circular file where it belongs!Hey. don’t get the World Money Analyst or never heard of it? Just Google it. and then you’ll find a link that takes you to the introduction of the letter.  But, just as an FYI. It’s a globally-oriented investment letter that aims to identify the highest-potential and lowest-risk international investment opportunities.  Trust me on this, they keep me around for the entertainment. the list of contributors is very impressive.OK. I’ve got lots of things to talk about today, that really show the state of our economy / country. and that all leads you toward a weaker dollar. it may not happen today, or tomorrow, or even in the next year, but, the prospects for a weaker dollar continue to pile up.First up on my list of things to talk about is this news that the penny and nickel are going away. Let’s listen in. “Mr. Geithner has been busy lately. Amongst his many other pressing tasks, he took the time to announce that the U.S. Mint will be removing the penny and nickel from circulation in the U.S. starting early next year. The reason is clear. It now costs the mint $US 0.048 to make a penny and $US 0.162 to make a nickel. They are still just above the break-even point on the dime, which costs them $US 0.092 to produce. That won’t last, according to Mr Geithner, so the dime will be the next to go – probably in 2014.”Ok, before I get to the next item. let me set it up by telling you that Gold got whacked again late yesterday.  I’m growing so tired of watching this happen but what’s a poor boy to do?   I saw James Turk talking about these takedowns of Gold, and thought it would be good to post his comments here, just to help you understand what’s going on in Gold.“On a day like today when the metals are getting pounded by the cartel, it’s important to step back and look at the big picture.  And the bottom line here is that we have some tough times coming.  We need to prepare for it, and of course the best way to do that is by accumulating physical gold and silver. The reason they are attempting to make gold and silver look weak here is because these monetary metals will provide the foundation when the monetary system is eventually re-constructed, and the price of gold and silver will be far higher than the numbers they are painting the tape with today.  But before that day comes, they need to shake as many people out of these markets as possible so they are victims of the greatest wealth transfer in history, not beneficiaries.” – James TurkAnd did you see that Citigroup announced that they will eliminate 11,000 jobs? I wonder where the BLS will hide those job losses?  I think that we’re going to begin to see a rash of these large job eliminations from the Financial Sector. The profits for a lot of these large institutions just aren’t there to support all these jobs. The rest of the country’s companies figured out how to exist and eke out a profit with smaller job corps a couple of years ago. The large Financial Institutions are just now seeing the forest through the trees.Then There Was This. OK. you know me, I’m not into talking politics, that is, unless I’m on the Butler patio. So, you won’t see me pointing any fingers here, because as far as the debt is concerned both parties are to blame.  But here are some facts about tax increases that you should take to memory to spew out to anyone that comes at you with the it’s fair to tax the rich thing.Last week I told you about the article by Chris Cox (former head of the SEC), and Bill Archer (former chairman of the House Ways and Means Committee). On the “true debt”.  Well, in the article they explain taxation.  “To collect enough tax revenue just to avoid going deeper into debt would require over $8 Trillion in tax collections annually. The put that in perspective, the entire GDP of the country last year was about $15 Trillion. Just to keep up with our debt, to keep it from growing, we’d have to take more than half of all American Wealth. Every Year. And that wouldn’t even solve our current debt issue.”Chuck again. So. it doesn’t matter who you tax, it won’t mean a hill of beans to the overall debt problem.  I’ve said all along that higher taxes were coming, because lawmakers would see this as a form of revenue, that they could take. However, I’ve also said all along that these higher taxes will NOT be the cure to all that ails us with regards to debt.  So, it was nice to see these two gentlemen agree with me.  What’s the other way to deal with the interest payments alone on our debt?  Cheaper dollars.  I’ve said all along that this would be used in addition to higher taxes as our leaders’ way to deal with debt payments. But how weak will the dollar have to go, for it to deal with actually retiring some debt?  Well. before we get there, I would think that the leaders of this country would consider default, before a complete collapse of the dollar.To recap. The currencies traded in a very tight range yesterday, and Gold got whacked at the end of the day again.  Overnight, the Aussie dollar is the best performer after printing a very strong jobs report. The 2nd best performer is the N.Z. dollar / kiwi, as the RBNZ left rates unchanged and sounded very upbeat in their statement.  The rest of the currencies are either flat or down a bit, with the euro trading in the same clothes as yesterday.Currencies today 12/6/12. American Style: A$ A$ 1.0495, kiwi .8325, C$ $1.0090, euro 1.3070, sterling 1.6110, Swiss $ 1.0790, . European Style: rand 8.7315, krone 5.6160, SEK 6.6015, forint 216.65, zloty 3.1620, koruna 19.2780, RUB 30.85, yen 82.35, sing 1.2190, HKD 7.75, INR 54.13, China 6.2277, pesos 12.90, BRL 2.0860, Dollar Index 79.85, Oil $88, 10-year 1.58%, Silver $32.74, and Gold. $1,690.15That’s it for today. Well. Happy Birthday to my wife’s dad, Larry Stringer. Larry is a retired Captain on the fire dept, and has lost most of his eyesight, but still tries to read the Pfennig each day.  Congrats to Alex who won his wrestling match last night by a score of 3-1. The year had not started out so great for him, so he was happy with that win.  I had a tough night last night, so I’ll be dragging the line today, and then after my here, back and here trip I should be ready for a nap!  I think I’m going to begin to account my spending the way the U.S. Gov’t does. That way, I’ll have a huge surplus at the end of the year!  I had better not start on the Gov’t accounting. I’ll save that for tomorrow!  Right now, I’m going to get started on a Tub Thumpin’ Thursday and you should too!Chuck Butler President EverBank World Markets 1-800-926-4922 read more

Gold Producers GDX 4192 4485 55

first_img Gold Producers (GDX) 41.92 44.85 55.23 Louis James Senior Metals Investment Strategist Casey Research P.S. Would you like to know which brokers other Casey subscribers use? We’re asking all subscribers to our publications to answer a few questions about their broker in our anonymous Broker Survey. Every subscriber who responds to the survey will receive detailed, compiled results after the survey concludes. If you  haven’t already, please take a moment to complete the survey – it’s short and simple.  Once compiled, we’ll send you the results so you can see what’s working (and what’s not) for other subscribers. TSX (Toronto Stock Exchange) 12,816.63 12,370.80 12,539.21 Gold 1,669.90 1,659.50 1,700.10 Gold Junior Stocks (GDXJ) 18.72 19.27 28.96 Silver 31.72 29.84 33.12 Rock & Stock Stats Last One Year Ago Two Chess Moves Away from Capital Controls By Jeff Clark, Senior Precious Metals Analyst The best indicator of a chess player’s form is his ability to sense the climax of the game. –Boris Spassky, World Chess Champion, 1969-1972 You’ve likely heard that the German central bank announced it will begin withdrawing part of its massive gold holdings from the United States as well as all its holdings from France. By 2020, Bundesbank says it wants half its gold reserves stored in its own vault in Germany. Why would it want to physically move the metal from New York? It’s not as if US vaults are not secure, and since Germany already owns the gold, does it really matter where it sits? You may recall that Hugo Chávez did the same thing in late 2011, repatriating much of his country’s gold reserves from London. However, this isn’t a third-world dictatorship; Germany is a major ally of the US. So what’s going on? Pawn to A3 On the surface, it may seem innocuous for Germany to move some pallets of gold closer to home. Some observers note that since Russia isn’t likely to be invading Germany anytime soon – one of the original reasons Germany had for storing its gold outside the country – the move is only natural and no big deal. But Germany’s gold stash represents roughly 10% of the world’s gold reserves, and the cost of moving it is not trivial, so we see greater import in the move. The Bundesbank said the purpose of the move was to “build trust and confidence domestically, and the ability to exchange gold for foreign currencies at gold-trading centers abroad within a short space of time.” It’s just satisfying the worries of the commoners, in the mainstream view, as well as giving themselves the ability to complete transactions faster. As evidence that it’s nothing more than this, Bundesbank points out that half of Germany’s gold will remain in New York and London (the US portion of reserves will only be reduced from 45% to 37%). Sounds reasonable. But these economists remind me of the analysts who every year claim the price of gold will fall – they can’t see the bigger implications and frequently miss the forest for the trees. Check What your friendly government economist doesn’t reveal and the mainstream journalist doesn’t report (or doesn’t understand) is that in the event of a US bankruptcy, euro implosion, or similar financial catastrophe, access to gold would almost certainly be limited. If Germany were to actually need its gold, regardless of the reason, any request for transfer or sale would be… difficult. There would be, at the very least, delays. At worst such requests could be denied, depending on the circumstances at the time. That’s not just bad – it defeats the purpose of owning gold. But this still doesn’t capture the greater significance of this action. First, it reinforces the growing recognition that gold is money. Physical bullion isn’t just a commodity, a day-trading vehicle, or even an investment. It’s a store of value, a physical hedge against monetary dislocations. In the ultimate extreme, it’s something you can use to pay for goods or services when all other means fail. It is precisely those who don’t recognize this historical fact who stand to lose the most in an adverse monetary event. (Hello, government economist.) Second, here’s the quote that reveals the ultimate, backstop reason for the move: Bundesbank stated it is a “pre-emptive” measure “in case of a currency crisis.” Germany’s central bank thinks a currency crisis is really possible. That’s a very sobering fact. We agree, of course: history is very clear on this. No fiat currency has lasted forever. Eventually they all fail. Whether the dollar goes to zero or merely becomes a second-class currency in the global arena, the root cause for failure is universal and inevitable: continual and perpetual dilution of the currency. Some level of currency crisis is inescapable at this point because absolutely nothing has changed with worldwide debt levels, deficit spending, and currency printing, except that they all continue to increase. While many economists and politicians claim these actions are necessary and are leading us to recovery, it’s clear we have yet to experience the fallout from spending more than we have and printing the difference. There will be serious and painful consequences, sooner or later of an inflationary nature, and the average person’s standard of living will be greatly reduced. And now there are rumblings that the Netherlands and Azerbaijan may move their gold back home. If this trend gathers steam, we could easily see a “gold run” in the same manner history has seen bank runs. Add in high inflation or a major currency event and a very ugly vicious cycle could ignite. Checkmate If other countries follow Germany’s path or the mistrust between central bankers grows, the next logical step would be to clamp down on gold exports. It would be the beginning of the kind of stringent capital controls Doug Casey and a few others have warned about for years. Think about it: is it really so far-fetched to think politicians wouldn’t somehow restrict the movement of gold if their currencies and/or economies were failing? Remember, India keeps tinkering with ideas like this already. What this means for you and me is that moving gold outside your country – especially if you’re a US citizen – could be banned. Fuel would be added to the fire by blaming gold for the dollar’s ongoing weakness. Don’t think you need to store gold outside your country? The metal you attempt to buy, sell, or trade within your borders could be severely regulated, taxed, tracked, or even frozen in such a crisis environment. You’d have easier access to foreign-held bullion, depending on the country and the specific events. None of this would take place in a vacuum. Transferring dollars internationally would certainly be tightly restricted as well. Moving almost any asset across borders could be declared illegal. Even your movement outside your country could come under increased scrutiny and restriction. The hint that all this is about to take place would be when politicians publicly declare they would do no such a thing. You could quite literally have 24 hours to make a move. If your resources were not already in place, even the most nimble of us would have a very hard time making arrangements. Once the door is closed, attempting to move restricted assets across international borders would come with serious penalties, almost certainly including jail time. In such a tense atmosphere, you could easily be labeled an enemy of the state just for trying to remove yourself from harm’s way. The message is clear: storing some gold outside your country of residence is critical at this point, and the window of time for doing so is getting smaller. Don’t just hope for the best; do something about it while you still can. The minor effort made now could pay major dividends in the future. Besides, you won’t be any worse off for having some precious metals stored elsewhere. If you’re moved to take action, know that you’re not alone. The Hard Assets Alliance had its busiest month to date in December, and January is on pace to set another sales record. International storage options are very attractive and include Zurich, Melbourne, Singapore, and London. If you’re unfamiliar with the program, learn about this breakthrough service. Even if you choose another method to store precious metals internationally, it’s critical that you take these first steps now. The best chess players in the world aren’t that way because they can see the next move. They’re champions because they can see the next 14 moves. You only have to see the next two moves to “win” this game. I suggest making those moves now before your government declares checkmate. Gold and Silver HEADLINES Asteroid-Mining Race Heats Up as One More Company Reveals Its Space Plans (Mineweb) US-based Deep Space Industries (DSI) announced the launching of its campaign to inspect small asteroids that pass by the Earth as potential mining targets. In 2015, DSI, in association with NASA and other companies and groups, plans to send a fleet of small, 55-pound FireFly spaceships to identify potential exploration targets. By 2016, Deep Space plans to launch larger DragonFly ships that would collect materials from asteroids and bring them to the Earth to analyze. Deep Space Industries is the second company to embark on asteroid exploration. Last year, Planetary Resources – a company founded by aerospace entrepreneurs and backed by filmmaker James Cameron and Google Executive Chairman Eric Schmidt – announced intentions to form a similar business. We continue to be very conservative about the commercial prospects of these companies. Mining is often unprofitable on Earth due to rising costs and political risks, as well as lack of infrastructure in remote locations. Space poses the ultimate infrastructure challenge. While we look forward to seeing how the companies plan to deal with it, we take such news as curious developments without any investment interest for now. India Hikes Import Tax on Gold (Mineweb) India raised its import duty on gold from 4% to 6% with the intention of restraining external purchases of bullion, in order to balance the the country’s account deficit. As an immediate implication, investment demand for the precious metal is expected to fall. However, gold consumption in the jewelry sector is most likely to remain largely unaffected. These measures will also likely boost smuggling. By creating conditions for gold’s black market to expand, the Indian government may lose more than it expects to gain by introducing the new tax. US and Canadian Mints Rationing Silver Coin Sales (Mineweb) Sales of silver coins have been so strong in January that the US Mint temporarily suspended sales of Silver Eagles and will only be able to supply authorized dealers again on a rationed basis. The Royal Canadian Mint has announced that it, too, has to ration sales of its popular Silver Maple Leaf coins. Sales of Silver Eagles reached six million within the first two weeks of January before being suspended. Analysts suggest that this rapid pace was driven by “the typical rush to acquire the most recently dated coins, as well as pent up demand following three weeks of unavailability (in December 2012).” The situation with the Royal Canadian Mind is perhaps a knock-on effect of the US suspension, as dealers in North America scramble to source coin supplies from mints in which customers have full confidence. This Week in International Speculator and BIG GOLD – Key Updates for Subscribers International Speculator One of our favorite exploration teams has delivered another set of positive drill results. A response to a lawsuit filed against this silver company was filed, and here’s our take on it. Copper 3.68 3.53 3.83 Dear Reader, I’m just back from Vancouver, where Doug Casey, Jeff Clark, Marin Katusa, and I spoke at the 2013 Vancouver Resource Investment Conference. After such an alarming year for so many gold stock owners, it was good to see the show was as large and well attended as ever. I’m not sure we can draw too many conclusions from that fact, but it was encouraging. I met with about two dozen companies and collected a lot of information to mull over, but best of all was meeting some of our readers who’ve become friends over the years. Thanks for coming down to the show. Another highlight was the metaphor Jeff developed in response to a question about what it means for Germany to be repatriating its physical gold reserves. His answer was so striking that I asked him to develop it into an article for all our readers to benefit from. The result is below; and it’s quite timely in light of the buying opportunity gold is giving us this week. I hope you find it as insightful as I did and will be motivated to take action. Sincerely, Silver Stocks (SIL) 20.78 22.29 23.85 TSX Venture 1,227.24 1,185.60 1,604.05 One Month Ago An International Speculator stock has released an economic study on its major development-stage project. We like both the project and the company. BIG GOLD Our #1 pick for dividends announced lower production last quarter – will this affect the payout we receive? Oil 95.95 88.61 99.40last_img read more

The dollar index opened at 8105 in Far East tradi

first_imgThe dollar index opened at 81.05 in Far East trading on their Thursday…and then rallied to its high of the day [81.49] around 10:30 a.m. in London…after that it traded mostly flat in a very tight range for the rest of the day.  The index closed at 81.36…up 31 basis points on the day.Like every other day of this engineered price decline in the precious metals, the correlation between the currency moves and the physical metal prices has been hard to find…and that’s being kind.The gold stocks rallied right from the open…and hit their zenith around the high price tick for gold at 11:00 a.m. Eastern time…although it’s hard to tell from the chart, because there’s missing data during that particular time period.  But once the high tick was in, the stocks drifted lower with the gold price…and the HUI closed up only 1.40%…which is better than the alternative.It was a similar story in the silver stocks, but most of the ones that make up Nick Laird’s Intraday Silver Sentiment Index outperformed the junior producers by a very wide margin yesterday…and the index closed up 2.78%.(Click on image to enlarge)The CME’s Daily Delivery Report was a bit of a surprise, as a rather chunky 1,582 gold contracts were posted for delivery on Monday….and it was all “the usual suspects”.  The two big short/issuers were Canada’s Bank of Nova Scotia with 938 contracts…and JPMorgan with 644 contracts.  362 of those JPMorgan contracts came from their in-house [proprietary] trading account…and 282 contracts were issued from their client account.  The two big long/stoppers were HSBC USA with 944 contracts…and Deutsche Bank with 613 contracts.Those 1,582 gold contracts posted for delivery on Monday represents about 90 percent of the remaining open interest in the February delivery month.There were no silver contracts posted for delivery.  Yesterday’s Issuers and Stoppers Report is worth a peek.  The link is here.The GLD ETF showed another withdrawal by an authorized participant[s] yesterday.  This time it was 285,733 troy ounces.  In the last two days 953,529 ounces of gold have been withdrawn from GLD…just under 30 tonnes.But the big surprise for the second day in a row was SLV…as an authorized participant added silver again.  This time it was an eye-watering 2,030,225 troy ounces!  During this $4 engineered price decline in silver over the last eight business days, SLV has added about 3,480,000 ounces, or just over 108 tonnes.Since December 7th…GLD has shed a hair over 2.0 million ounces…and SLV has added about 24.9 million ounces of silver Something is up…but I just can’t see the whole picture.Joshua Gibbons, the Guru of the SLV Bar List, updated his website with commentary on the week that was in SLV.  It was posted on the Internet site yesterday…and the link is here.On Wednesday, the Comex-approved depositories reported receiving 20,980 troy ounces of silver…and shipped 626,983 troy ounces of the stuff out the door.  The link to that activity is here.Here are a couple of charts that Nick Laird whipped up recently…and I thought they were worth sharing.(Click on image to enlarge)(Click on image to enlarge)I have quite a few stories again today and, as usual, the final edit is up to you.First, let me establish that the price takedown over the last nine trading days ($120 in gold and $4 in silver) qualifies as being termed deliberate. Especially in silver, I’m not sure what else could describe the decline other than deliberate. After all, there has been no indication of selling from existing silver investors either in physical holdings or in the silver ETFs (exchange traded funds); all the selling in silver has been on the COMEX in the form of paper contracts. Government-published data, in the form of the Commitment of Trader Reports (COT), have and will indicate heavy selling by speculators and technical funds and heavy buying by other speculators called commercials in COMEX silver futures. On this, few will argue. Some still insist that this is free market behavior, but many more grasp that what causes it to be deliberate is the consistency by which the commercials can get the technical funds to follow price signals controlled by the commercials (think HFT). That, and the overwhelming concentration held on the short side of COMEX silver by JPMorgan. Silver didn’t drop 4 bucks in two weeks for any reason other than deliberate commercial maneuvering on the COMEX. – Silver analyst Ted Butler…20 February 2013Well, I’m guessing that we saw the bottom in all four precious metals during Far East and early London trading yesterday…as there was no price activity worthy of the name during the Comex trading session that followed.  If I’m wrong, we should find out shortly.But where we go from here…and how fast we get there…is the other $64,000 question without an answer as of yet.  As Ted Butler has already pointed out…JPMorgan et al spent the entire engineered price decline buying back short positions and going long…as the technical funds were forced to sell their long positions, and have now loaded up on the short side.Unfortunately, today’s Commitment of Trader Report due out later this afternoon, won’t show what happened during the final two days of this sell-off…as the cut-off for today’s report came at the close of Comex trading on Tuesday.  The crucial Wednesday and Thursday price action…the final capitulation to the downside…won’t be included.Here are the 6-month charts for all four precious metals.  I found it very intriguing that ‘da boyz’ would set the low price in both gold and silver in Far East trading…and then do the same for platinum and palladium shortly after London open a few hours later.(Click on image to enlarge)(Click on image to enlarge)(Click on image to enlarge)(Click on image to enlarge)For all those pundits bemoaning the state of GLD, I would like to point out that the situation is far different in SLV…and one has to wonder why that is the case…especially the deposits in SLV and the withdrawals in GLD during this price decline.  If the precious metals were going lower in the long term, why would JPMorgan go to all that trouble of covering their monster short position in that ETF?  The short positions in both these ETFs have been relegated to background levels…and are so tiny now, that they are of no significance.Along with the recent frantic activity in SLV, there’s the other matter that Ted Butler has been going on about for about the last two years…and that’s the phenomenal churn in Comex silver.  It’s not happening in any other metal…and you have to ask yourself why that is the case.  Ted thinks that “da boyz” are hand to mouth in silver…and I agree.  I’d also bet serious money that most of these good delivery bars that have been arriving and departing the Comex in the last couple of years are picking up quite a few “frequent-flyer” points during their travels, because it’s my belief that a significant portion of their journeys are by air, as almost all of U.S. silver production is ending up at the U.S. Mint.There are lots of commentators out there that feel that a re-pricing of gold is inevitable…and I’m one of them.  With the COT structure set up favourably once again, this may be used as an opportunity to let prices rip to the upside.  However, I’m choked with caution, as we’ve been at a similar COT structure several times in the last fourteen months…and nothing of that sort happened, as JPMorgan et al poured back on the short side during the subsequent rallies in all the precious metals.Will it happen this time?  Beats me, but if I was the powers that be, this would be the sort of timing I would pick.  As I and others have mentioned many times over the years, the world’s economic, financial and monetary systems are circling the deflationary drain ever faster…and they all want some ‘positive inflation’ in the world’s economies…and a re-pricing of the precious metals, whether by market forces or by decree, would be an important step in attempting to right over 40 years of monetary malfeasance.  If there are any big changes forthcoming, I would expect them to happen quickly.In Friday trading in the Far East…and in early London trading as well…not much of anything happened price wise.  As I hit the ‘send’ button at 5:15 a.m. Eastern time, volumes are pretty decent in both metals…and the dollar index is down about 10 basis points.  It will be interesting to see what develops in New York when the Comex opens at 8:20 a.m. Eastern time.Before heading out the door, I’d like to remind you…as I do most every Friday…that the precious metal stocks have never been this cheap versus the price of gold itself…and it certainly appears to be the time to take the plunge if you haven’t already.  So I’d like to remind you one more time that there’s still an 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 out 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 your weekend, or what’s left of it if you live just west of the International Date Line…and I’ll see you here tomorrow. Where we go from here…and how fast we get there…is the other $64,000 question. For a change, all the price action that really mattered occurred during the morning trading session in the Far East, when a new low price was set in gold.The low came shortly after 10:00 a.m. in Hong Kong…and crawled higher for the rest of the day in the Far East and London.The high tick [$1,586.10 spot] came at the precise close of London trading at 4:00 p.m. GMT…11:00 a.m. Eastern time.  From there, gold got sold off a bit going into the close of electronic trading in New York.Gold finished the Thursday session at $1,577.00 spot…up $12.70 on the day…and as I pointed out in ‘The Wrap’ yesterday, volume was monstrous during Far East and London trading…and those volume levels continued for the rest of the day.  When it was all done, gold’s gross volume was 233,000 contracts.In silver, it’s hard to tell whether the new low price tick came mid-morning in Hong Kong, or shortly after the London open…not that it really matters, I suppose.Anyway, from the London low, silver rallied up until the noon GMT silver fix…and didn’t do a whole heck of a lot after that.Silver finished the day at $28.68 spot…up a whole twelve cents.  Net volume was heavy at 42,500 contracts, give or take.Both platinum and palladium were taken out to the woodshed during the Far East and early London trading sessions on Thursday…and both hit their lows around 11:00 a.m. in London, which was pretty close to being the high tick of the day for the dollar index.  But to say that the price moves in platinum and palladium on Wednesday and Thursday had anything to do with the currencies, would be an outright fabrication. Sponsor Advertisementcenter_img Could Canada’s Silver Secret Fund Your Retirement?This little-known silver investment could be more lucrative than any other you’ve likely come across before.Since 2008, it has generated 10 times the return of regular silver… And get this: It even pays out a steady stream of dividends!That’s a claim few companies in the precious metals world can make.For the full details about this unique silver opportunity, click here now.last_img read more

SIMON NOTT EPSOM Friday Betting Report

first_imgMuch to the disappointment of his many twitter fans, boss Ben was on the missing list for the Oaks. As he galvanised himself at home for the onslaught at tomorrow night’s Greyhound Derby.ANDREW BEFORE RACING2:00 Investec Woodcote EBF StakesHead of on-course operations Andrew and his team got cracking on the opening Investec Woodcote Stakes but takings on the rail were meagre, the biggest single bet just £200 on Marie’s Diamond at 5/2.It’s a bit Sod’s Law that 10/1 ‘result’ Cosmic Law won the race when there was relatively little in the hod but at least we kept it. Prior to the race my popular recent interviewee Jeremy Chapman and his wife came to say hello, which was lovely. (Interview with Jeremy Chapman CLICK HERE)2:35 Investec Click & Invest Mile HandicapThe Investec Click and Invest Mile Handicap Stakes was a competitive heat.Flynn learning the on-course ropes was in position on the rail taking bets but lumps weren’t expected betting 4/1 the field.That 4/1 King’s Pavilion hit 5/1 before that price was clipped as the field were going down.That clip developed into a gallop – 7/2 the best price on offer on the rail at the off. There had been a little nibble for Medburn Dream from 6/1 into 5/1 which proved justified when the gelding won the race from Mythical Madness with the jolly back in third, taking the book. A few punters were in quickly to draw, shrewd judges as it wasn’t long before the ‘bing bong’ for a steward’s enquiry.It was a formality, the first past the post kept the race, level in the book.3:10 Investec Coronation Cup (Group 1)If there were going to be any lumpy bets on the day the first race to expect them would be the Investec Coronation Cup with Cracksman opening 1/3.Andrew also offered betting without, with Hawkbill topping that market at 5/4.We found a couple of punters, though compared to the business at Towcester and the Greyhound Derby heats (bets of £1000-£3000 and a monkey at 3/10 )they were still quite modest given the prestige of the event.The office called as the horses were being loaded they’d laid £30,000 – £100,000.Turning Tattenham Corner the jolly looked in trouble as 33/1 shot Salouen was going well in front, if anything it looked rosier at the furlong pole, evidently at least two rails layers thought it was all over half way up the straight, they gave it the ‘Aye Aye’. They should have known better, the final ‘E’ still in their throats Frankie Dettori found another gear on Cracksman and collared the gallant front runner by a neck in the shadow of the post. Talk about having the cup snatched from your lips.ANDREW AFTER THE CORONATION STAKES3:45 Investec Wealth & Investment HandicapDusted down and ready to go again and the Investec Wealth & Investment Handicap Stakes boasted a 5/4 shot heading the market Ajman King.After the Coronation Cup the betting was tepid to say the least the biggest bet £250 each way Dark Red at 10/1.The favourite winning the race and the place bogie just holding on for third wasn’t ideal. On the plus side no lumpy bets meant no lumpy payouts!4:30 Investec Oaks (Fillies’ Group 1)Next up the feature race the Investec Oaks with a competitive betting market headed by Wild Illusion at 5/2.Sadly the money on course was very modest but the office laid two bets totally £18,000 each-way Magic Wand at 4/1 while Wild Illusion eased to 11/4.Together Forever winning the Oaks at 7/1 looked an excellent result in the on-course book but then when the place losses were added up we’d won a Wetherspoon Round. At least the office kept the lumps they took.5:15 Investec Surrey Stakes (Listed)The 45 minute gap between the feature race and the Investec Surrey Stakes seemed to quell the already lukewarm ardour of the punters.The race took off over time with respectable field money at the off – Kings Shield the only real loser. The punters had backed Lake Volta from 5/1 into 10/3 but left us out with any bets of any significance so winning the way it did was a real bonus cop for the book when plenty would have lost.5:50 Investec Zebra HandicapThe concluding Investec Zebra Handicap Stakes had all hallmarks of a very little of interest concluding race. We were wrong… a punter came in for Shared Equity with a £5,000 – £400 each way then we laid two independent bets of £4,000 -£1,000 Galloway Hills.A punter topped it up with a carpet (£300) on Juanito Chico at 7/1 just before the off which left us with the three losers, Galloway Hills by far the worst.With the winner Shared Equity the second worst in the book which ruined the whole day scooting up the ‘Golden Highway’ on the rail.ANDREW AT CLOSE OF PLAYI’m off to Towcester tonight and will be reporting from the Greyhound Derby Betting Ring, if you are coming to Epsom Andrew and team will be here to take your bets on the rail. Be it the Towcester Greyhound or Epsom Derby, come Racing! Simon Nott is author of:Skint Mob! Tales from the Betting RingCLICK HERE FOR MORE DETAILSlast_img read more

EUs new data protection rules come into effect

first_img Rush to comply with new EU data law Top 10 countries and US states affected by Facebook data scandal. The EU’s so-called General Data Protection Regulation (GDPR) has been blamed for a flood of spam emails and messages in recent weeks as firms rush to request the explicit consent of users to contact them.Even though the rules were officially adopted two years ago, with a grace period until now to adapt to them, companies have been slow to act, resulting in a last-minute scramble this week.Britain’s data protection watchdog, the Information Commissioner’s Office (ICO), said that its site had experienced “a few interruptions” as the deadline loomed, but said that “everything is working now”.Brussels insists that the laws will become a global benchmark for the protection of people’s online information, particularly in the wake of the Facebook data harvesting scandal.”The new rules will put the Europeans back in control of their data,” said EU Justice Commissioner Vera Jourova. “When it comes to personal data today, people are naked in an aquarium.”Companies can be fined up to 20 million euros ($24 million) or four percent of annual global turnover for breaching the strict new data rules for the EU, a market of 500 million people.Explicit consentThe law establishes the key principle that individuals must explicitly grant permission for their data to be used.The new EU law also establishes consumers’ “right to know” who is processing their information and what it will be used for.People will be able to block the processing of their data for commercial reasons and even have data deleted under the “right to be forgotten”. Explore further This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. The EU’s so-called General Data Protection Regulation (GDPR) comes into effect on Friday Citation: EU’s new data protection rules come into effect (2018, May 25) retrieved 18 July 2019 from Facebook chief Mark Zuckerberg said in a hearing at the European Parliament on Tuesday that his firm will not only be “fully compliant” with the EU law, but will also make huge investments to protect users.Zuckerberg said he was “sorry” for the Cambridge Analytica breaches, but also for its failure to crack down on election interference, “fake news” and other data misuses.’Global standard’Big platforms like Facebook, WhatsApp and Twitter seem well prepared for the new laws, while smaller businesses have voiced concern.But EU officials say they are initially focusing on the big firms, whose business models use a goldmine of personal information for advertising, while offering smaller firms more time to adapt.Meanwhile Brussels has expressed impatience with the eight countries—out of the EU’s 28—that say they will not have updated their laws by Friday. EU Commissioner Jourova said the new rules are setting “a global standard of privacy”. Many Americans who once criticised Europe as too quick to regulate the new driver of the global economy now see the need for the GDPR, EU officials insist.”I see some version of GDPR getting quickly adopted at least in the United States,” Param Vir Singh, a business professor at Carnegie Mellon University, told AFP in an email.Japan, South Korea, India and Thailand are also drawing “some inspiration” from Brussels as they debate or adopt similar laws, another EU official said. © 2018 AFP The European Union’s new data protection laws came into effect on Friday, with Brussels saying the changes will protect consumers from being like “people naked in an aquarium”. Parents will decide for children until they reach the age of consent, which member states will set anywhere between 13 and 16 years old.The case for the new rules has been boosted by the recent scandal over the harvesting of Facebook users’ data by Cambridge Analytica, a US-British political research firm, for the 2016 US presidential election.The breach affected 87 million users, but Facebook said Wednesday it has found no evidence that any data from Europeans were sold to Cambridge Analytica.last_img read more

How technology could help rural South Africa turn sunshine into income

first_imgThe good news is that South Africa is one of the most suitable places to harness the energy of the sun and convert it to electricity through photovoltaics. The prices for panels have reduced significantly and can be mounted on every shack. Individual storage solutions in contrast are currently unaffordable. So, the ability to sell excess electricity would be ideal. The creation of markets where households can sell their excess electricity would also stimulate demand for photovoltaics across rural Africa. In this way households producing electricity through photovoltaic panels on their rooftops can trade their excess electricity and buy electricity when needed.These trades can be recorded by the blockchain. The exchange mechanism would not be based on South African rands. Instead, the traded electricity units would be converted directly into a blockchain-based crypto-currency. The blockchain currency could then be converted into vouchers to pay for government services or to repay the loans taken to install the photovoltaic panels.In this way blockchain would replace both the current billing and the trading systems. If households see the economic benefit and start installing more capacity than needed by the immediate community, aggregators might bundle up the power generation to respond to demand and sell it again directly to other consumers. These consumers could include nearby factories.Flexible electricity grid is keyFor photovoltaic to contribute to the grid security, PV plants must be run by operating systems that allow for better interaction with the electricity grid. They must be able to interact with other renewable energy sources and storage systems. Despite considerable process, these required systems are still under development. If South Africa positions itself well, it could become a test bed for these technologies and thereby benefit from investments in research and development by major international corporations that have an interest in driving these trial runs.The integration of distributed ledger technologies into energy trading would be a logical next step for South Africa. Already in 2011, the National Energy Regulator of South Africa allowed municipalities to connect to their networks small-scale embedded generation of under 100 kW. Two years later, the updated integrated resource plan stressed the need for adaptive energy investments. In particular, rooftop solar PV was identified as an interesting source of energy.Developing countries have an advantageThe move to a decentralized electricity market with distributed ledger blockchain technology at its core will take much longer in the West. By some estimates as long as 25 years. This is because of their deeply integrated electricity markets and legal systems that can’t be changed easily to create the necessary environment. Nevertheless, interest in attractive reward systems for individual producers is also rising in Europe.On the other hand developing countries might have an advantage. Countries, including South Africa, which have sections of their populations not connected to the electric grid, could make the transition to decentralized electricity markets much quicker.This points to the possibility that the distributed ledger technologies might follow the same path as the diffusion of mobile phones across the African continent. This would enable ways for alternative energy technologies to leapfrog the expensive centralized grid systems. But the transition to decentralized electricity production and trading markets won’t necessarily be smooth. One of the biggest challenges in getting blockchain applications up and running is trust. In most countries consumers have already built trust in the centralized institutions. Not so in South Africa where trust in Eskom is in negative territory. Given this state of affairs, the country could take advantage of the power utility’s challenge by increasing the use of technology in the rural areas and so turning sunshine into income. Citation: How technology could help rural South Africa turn sunshine into income (2019, June 3) retrieved 17 July 2019 from But for a decentralized system to be sustainable, a flexible grid is required to accommodate variable renewable energy sources. A flexible grid also enables operators of the electricity system to balance demand and supply. A decentralized energy system also requires an exchange mechanism to link buyers and sellers. In South Africa, the state utility Eskom currently fulfills this role. It effectively acts as a central clearing house. It does this by buying electricity from renewable power projects, adding it to its own generated energy and selling it to consumers.But there are technologies being developed that could do away with the need for a clearing house like this. One is a distributed ledger technology, of which blockchain is an example. The use of this technology would allow small-scale transactions between buyers and sellers to be captured and recorded. In this way, it could facilitate the development of small-scale electricity trading markets. Blockchain has been identified as one of the pivotal technologies alongside Artificial intelligence, Internet of things and Big Data. Interest in applying the blockchain technology to energy markets is slowly picking up.Decentralised gridIn South Africa 15.6% of the households are not connected to an electricity supply. This is unlikely to change in the near future with centralized power production because it requires major investments to extend power lines to remote communities. For these communities, having their own decentralized grid solutions holds tremendous economic potential. The way energy is produced and distributed is changing rapidly as the industry moves away from carbon-based energy production. Technological development in the production of alternative energy has also sped up the emergence of decentralized systems. These build on large numbers of actors who generate small quantities of energy. This article is republished from The Conversation under a Creative Commons license. Read the original article. Explore furthercenter_img Solar has lit up remote communities. The next step is to link these communities to an energy market. Credit: Shutterstock The future of renewable infrastructure is uncertain without good planning Provided by The Conversation This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.last_img read more