Match-fixing allegations overshadow day one

first_imgMELBOURNE, Australia (AP):Novak Djokovic recalled his own brush with match fixing, as the start of the year’s first Grand Slam tournament was overshadowed by corruption allegations.Djokovic started his bid for a sixth Australian Open title with a 6-3, 6-2, 6-4 win over Chung Hyeon of South Korea yesterday, hours after the BBC and Buzzfeed News published reports alleging match fixing had gone unchecked in tennis.No players were identified in the reports, which alleged 16 players had been flagged repeatedly with tennis authorities but not sanctioned on suspicion of match fixing. Half of those are entered in the Australian Open, the reports said.The governing bodies for the sport and the Tennis Integrity Unit issued a joint statement, read by ATP chairman Chris Kermode, at a hastily convened news conference at Melbourne Park.Kermode said tennis authorities “absolutely reject any suggestion that evidence of match fixing has been suppressed for any reason, or isn’t being investigated”.Djokovic later responded to a question about an approach ahead of a tournament in St Petersburg, Russia, in 2007.”I was approached through people that were working with me at that time, that were with my team,” he said. “Of course, we threw it (the approach) away right away. It didn’t even get to me. The guy that was trying to talk to me, he didn’t even get to me directly. There was nothing out of it.PREVIOUSRUMOURS”Unfortunately, there were some, in those times, those days, rumours, some talks, some people were going around. They were dealt with. In the last six, seven years, I haven’t heard anything similar.”Djokovic was an up-and-coming player at the time, not winning the first of his 10 major titles until the 2008 Australian Open.”It made me feel terrible because I don’t want to be anyhow linked to this kind of you know, somebody may call it an opportunity,” he said. “For me, that’s an act of unsportsmanship, a crime in sport, honestly. I think there is no room for it in any sport, especially in tennis.”Djokovic said he thought the allegations related to matches from almost 10 years ago, and didn’t involve active players.Roger Federer, a 17-time major winner and former leader of the player council, agreed the allegations likely weren’t new but remained “super serious”.”I would love to hear names,” Federer said. “Then at least it’s concrete stuff, and you can actually debate about it. Was it the player? Was it the support team? Who was it? Was it before? Was it a doubles player, a singles player? Which slam?”It’s super serious, and it’s super important to maintain the integrity of our sport. So how high up does it go? The higher it goes, the more surprised I would be, no doubt about it.”Serena Williams was on court preparing for her opening 6-4, 7-5 win over No 34-ranked Camila Giorgi when Kermode was holding a news conference to respond to the fixing allegations.The 21-time major winner said there was no hint of match fixing on the women’s tour.”I play very hard, and every player I play seems to play hard,” she said. “As an athlete, I do everything I can to be not only great, but, you know, historic.”last_img read more


Man United injury update v Chelsea – HUGE BOOST for Red Devils as attacker looks set to recover for Sunday’s clash

first_img 1 1 Manchester United boss Louis van Gaal became a figure of fun on Monday evening as he claimed that his side could still catch runaway league leaders Chelsea, but he will have the perfect opportunity to justify that assertion on Sunday afternoon when the two heavyweights square off at Old Trafford.United are currently 10 points behind their London counterparts – who are yet to taste defeat in the Premier League – and while the Red Devils will still be without captain Wayne Rooney, who serves the final match of his suspension, Van Gaal looks likely to receive a handful of boosts that could prove the difference maker for the fallen giants.The biggest news understandably surrounds club-record signing Angel di Maria, who worryingly limped off in Monday’s draw with West Brom. The Argentine seemed to wince on the bench, as he sat with an ice-pack strapped to his groin, but after being spotted at United’s Carrington base on Wednesday to undergo additional treatment, the club are quietly confident that he will be fit in time for Sunday’s showdown.Another huge boost comes in the shape of Colombian hitman Radamel Falcao, who remained on the bench for the 2-2 draw due to the amount of travelling he had done during the international break, but according to latest reports he too is expected to be ready to go on Sunday.While defence continues to be an area of consternation for boss Louis van Gaal, his ranks look set to receive further reinforcements, with Jonny Evans and youngster Paddy McNair to undergo fitness tests that could see them follow the returns of Phil Jones and Chris Smalling last weekend.And finally, something of a minor boost, Monday’s goal hero Marouane Fellaini insists he is fully fit and raring to help fire United back into the Premier League’s upper-echelons after enduring his own difficult start to life at Old Trafford following his switch from Everton in the summer of 2013.Below is how Man United could line-up against Chelsea on Sunday: Man United fans, how do you think you’ll line-up on Sunday? Comment below… Angel Di Maria looks like being passed fit to face Chelsea last_img read more


Flooding concerns raised over bridge in Castlefinn

first_imgConcern has been expressed today (Sat) over a bridge in Castlefinn that is regularly under the strain of flash flooding.Councillor Gary Doherty urged motorists crossing the bridge to take care when passing.The Donegal Councillor wrote on Facebook: “Castlefinn Bridge is only just passable at the moment with extreme care, however despite the rain easing off the river is still rising.” Flooding concerns raised over bridge in Castlefinn was last modified: August 31st, 2019 by Shaun KeenanShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more


Santa Fe ISD Approves New Safety Measures

first_img Share Photo: Harris County Sheriff’s Office via Twitter / @HCSOTexasLaw enforcement agencies are deployed at Santa Fe High School, located in Galveston County, because of the shooting incident that happened in the morning of May 18, 2018.Trustees of Santa Fe Independent School District approved new safety measures, last night.Media outlets report the board decided to install new locks inside classrooms, remodel the front entrance to the school with bulletproof glass, and install new alarms and panic buttons in classrooms.The Galveston County Daily News reports about 1.5 million dollars will be spent on a series of updates, many to be completed before the school year begins. The district will reportedly relocate the classrooms where the deadly shooting took place last May.The board did not vote on whether to install metal detectors donated to the district.last_img read more


Heres a chart that Washington state reader SA s

first_img Here’s a chart that Washington state reader S.A. shamelessly ripped from a Zero Hedge piece yesterday—and I thought I’d offer it with no comment. I was amazed by the big withdrawal from SLV yesterday The gold price chopped sideways in a five dollar price range up until shortly before 1 p.m. GMT in London on their Thursday.  Then, in a minute or so, the price got sold down about six bucks, before rallying strongly after that.  The rally got capped less than an hour later at 8:30 a.m. in New York.  From there, gold traded sideways until about noon—and at that point it developed a slightly positive price bias, which really developed some legs at 2:30 p.m. in the thinly-traded New York Access Market.  That rally lasted until just about 4 p.m. EST—gold’s high of the day—and then the price didn’t do much after that going into the electronic close. The CME Group recorded the low and high ticks as $1,307.10 and $1,325.30 in the April contract. Gold finished the Thursday session in New York at $1,323.00 spot, up $12.10 from Wednesday.  Volume, net of February and March, was very decent at 144,000 contracts. The silver price had much more of a roller coaster ride in Far East and morning trading in London—but after the sell-off just before 1 p.m. GMT in London, the silver price action followed the gold price action like a shadow, including the rally in the thinly-traded electronic market after the Comex close—and silver’s high price tick of the day just before 4 p.m. EST. The low and high prices were reported as $21.515 and $21.90 in the March contract. Silver finished the Thursday session at $21.82 spot, up 28.5 cents from Wednesday’s close.  Net volume was less than on Wednesday, but a still very decent 32,500 contracts. Here’s the New York Spot Silver [Bid] chart for yesterday—and as I said, it looks almost identical to the spot gold chart posted above. After getting sold down early in Far East trading on their Thursday, both platinum and palladium rallied to finish in the green, but only by a few dollars each.  Here are the charts. The gold stocks rallied right from the open, with a big chunk of the gains in by the London p.m. gold fix.  After that, the stocks rallied continued to rally higher, but at a much more modest rate.  Then, when gold had its rally in the thinly-traded electronic market after the Comex close, the shares rallied a bit more—and the HUI finished up 3.89%—virtually on its high of the day, gaining back all of Wednesday’s losses and a bit more.  I was impressed. The silver equities rallied right from the open as well—and most of their gains were in by precisely 11 a.m. EST.  After that they traded sideways, but caught a bit of a tail wind as well when silver rallied in after hours trading in New York before the equity markets closed.  Nick Laird’s Intraday Silver Sentiment Index closed up 4.03%—not gaining back everything it lost on Wednesday, but pretty close. Skyharbour Resources (TSX-V: SYH) is a uranium exploration company and a member of the Western Athabasca Syndicate which controls a large, geologically prospective land package consisting of five properties (709,513 acres) in the Athabasca Basin of Saskatchewan. The properties are strategically located to the north, south, east and west of Fission Uranium’s (TSX-V: FCU) Patterson Lake South (“PLS”) recent high grade uranium discovery on the western flank of the Athabasca Basin. $6,000,000 in combined exploration expenditures over the next two years is planned on these properties, $5,000,000 of which is being funded by the three partner companies. Numerous high-potential drill targets have been identified with drilling to start in March, 2014. The Company has recently acquired a 60% interest in the Mann Lake Uranium Project on the east side of the Basin strategically located 25km southwest of Cameco’s McArthur River Mine. The ground adjacent to this property is Cameco’s Mann Lake Joint Venture where an aggressive 13,000 metre, 18-hole drill program is about to commence and previous grades of up to 7.12% uranium have been intersected in drilling. The Company has 43.6 million shares outstanding with insiders owning over 25% of the outstanding shares. Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions. Please visit our website to learn more about the company and request information.center_img The CME’s Daily Delivery Report showed that 145 gold and zero silver contracts were posted for delivery within the Comex-approved depositories on Monday.  The short/issuer on 140 of those contracts was Barclays.  They also stopped 50 contracts as well.  HSBC USA stopped another 65 contracts.  The link to yesterday’s Issuers and Stoppers Report is here. There were no reported changes in GLD on Thursday—but over at SLV there was a big surprise in store.  After a huge deposit of 3.85 million troy ounces on Tuesday, there was a big withdrawal of 2,212,315 troy ounces yesterday. The only answer I have for this, is something that Ted Butler has been talking about for the last couple of years.  He suspects that a big buyer has been purchasing shares by the truckload [read JPMorgan Chase] and has been continuously redeeming their shares for physical metal so they don’t exceed SLV reporting requirements.  In a nutshell, this means that JPM is using SLV as a vehicle to load up on the shares—and the physical metal at the same time—without having  to report it to anyone.   This is over and above what they show in their Comex-approved depository. This may also have been what’s happening in GLD since the start of they year as well. As I mentioned yesterday, the big rallies in both silver and gold have not been matched by corresponding deposits in either SLV or GLD—and Ted Butler’s explanation as to why it’s not happening is the only theory that holds any water., at least for me.  If you have another idea, I’d love to here from you. Over at the Switzerland’s Zürcher Kantonalbank for the week ending Friday, February 14, they reported a smallish decline in their gold ETF of 5,611 troy ounces.  Their silver ETF showed a small increase of 29,353 troy ounces. Joshua Gibbons, the “Guru of the SLV Bar List” had this to report on the weekly goings-on within the SLV ETF for the week ending at the close of trading on Wednesday:  “Analysis of the 19 February 2014 bar list, and comparison to the previous week’s list—9,670,272.5 troy ounces were removed (all from Brinks London), 13,037,078.1 troy ounces were added (all to Brinks London), no bars had a serial number change.“ “In reality, 5,290,714.0 oz were added—and 1,923,884.0 removed. The other 7.7M oz appears to be a ‘substitution’ (JPM removed bars, such as 6.7M oz of Russian State Refineries and Met-Mex bars, and replaced them with different ones, such as Kazakhmys and Valcambi bars).“ “As of the time that the bar list was produced, it was overallocated 557.5 oz.  All daily changes are reflected on the bar list.”  The link to Joshua’s website is here. For the second day in a row, there was no reported in/out movement in gold at the Comex-approved depositories on Wednesday—and is almost always the case, there was more in/out activity in silver, as 74,150 troy ounces were reported received—and 303,398 troy ounces were shipped out.  The link to that activity is here. Here’s a three-year chart of the Continuous Commodity Index, the CCI, which is the new name for the old CRB Index—and look at it fly as of the start of the year.  It’s hugely overbought, but worth keeping an eye on.  If the central banks of the world are looking for inflation, here’s the first sign that it’s on its way.  The new CRB chart looks similar. Here’s a chart that Casey Research’s own Jeff Clark sends our way every few weeks.  It’s the latest monetary base numbers from the St. Louis Fed.  Soon the line will break through the $4.0 trillion mark. I have another bunch of stories for you today—and you can cherry pick from the selections offered. Undoubtedly, we’ll get a measure of what they may be up to in Friday’s Commitments of Traders Report. Specifically, what JPMorgan has done, particularly in silver, will likely be the key feature. JPM hasn’t sold on higher prices over the past two reporting weeks in either gold or silver and that has been the big standout so far. If JPMorgan turns out to have sold some of its long gold position on higher prices, there’s not much to say. But if this crooked bank starts adding short positions in silver, there will be plenty to say, namely, overt price manipulation. – Silver analyst Ted Butler: 19 February 2014 To tell you the truth, I don’t know what to make of yesterday’s price action in either gold or silver.  Don’t get me wrong, I was more than happy to see both metals do as well as they did—and as Ted Butler has told me on many occasions, it’s a mug’s game trying to forecast what might happen in day to day price action. As Ted mentioned in his quote above, we get the latest Commitment of Traders Report for positions held at the close of Comex trading on Tuesday—and I will be awaiting the numbers with some anticipation; hoping for the best, but expecting the worst.  Whatever the numbers show, I’ll have it all for you in tomorrow’s column. Once again I was amazed by the big withdrawal from SLV yesterday.  As I said in yesterday’s column, with gold up $100—and silver up 2 bucks so far this year, metal should be pouring into both GLD and SLV.  They are to a certain extent, but no sooner does metal get deposited, when some is taken out. Ted has his explanation for this, which I posted further up—and it makes perfect sense to me.  If you wish to refresh your memory, you can scroll up and read it again, as I don’t wish to repeat myself in this space. One thing I have noticed is that the further down the road we get on this price management scheme in all four precious metals, the more inexplicable it gets.  Whatever is happening out of sight of the general public, which includes us, appears to be well organized—and sooner or later it will all come to an end.  At that point we should have some sort of dénouement on all of this—and that day can’t come soon enough for me, although it does fall into the category of “be careful what you wish for.” We did have the usual sell-off in both gold and silver in early trading in the Far East on the their Friday morning—but both platinum and palladium emerged unscathed.  Both gold and silver struggled higher later in the day—and as I write this paragraph, London has been open for 10 minutes.  Both silver and gold are down from Thursday’s close in New York—and both platinum and palladium are basically unchanged.  Volumes in both metals are considerably lighter than they were this time yesterday—and the dollar index is up a handful of basis points. And as I put the finishing touches on today’s efforts shortly after 5 a.m. EST, I note that prices haven’t changed by much in all four precious metals.  Gold volume is still on the lighter side—and mostly of the HFT variety.  Silver’s volume is decent as well, but once the roll-overs are subtracted out, the real volume is not overly heavy, either—and the dollar is still up the same handful of basis points. Since today is Friday, it’s hard to know what to expect as far as price action is concerned for the rest of the day.  But as is almost always the case, it’s what happens during the New York trading day that really matters—and I don’t expect today will be any different. By the way, with what appears to be the start of a major up-trend in the precious metals, it might be worth your while to jump back in, or increase your exposure to the precious metals once again, as the HUI is already up over 22% year-to-date.  Your best bets for that are Casey Research’s monthly BIG GOLD newsletter—and Casey Research’s flagship publication—Casey International Speculator.  If you go for Casey International Speculator, it includes a subscription to BIG GOLD at no extra charge. It costs nothing to check them out—and Casey Research’s 90-day money back guarantee applies to both. That’s all I have for today.  I hope you enjoy your weekend, or what’s left of it if you live west of the International Date Line—and I’ll see you here tomorrow. Sponsor Advertisement Here’s the New York Spot Gold [Bid] chart so you can see the Comex price action in more detail. The dollar index closed late on Wednesday afternoon in New York at 80.21—and once the trading day began in the Far East on their Thursday, the index slid down to its 80.04 low shortly before 2:30 p.m. Hong Kong time.  From there it rallied to its 80.41 high at noon in New York in a broad trading range.  After that it gave up some of its gains by 4 p.m. EST—and then didn’t do much after that, closing the day at 80.28—up a whole 7 basis points from Wednesday’s close.last_img read more


In This Issue   Dollars allout assault is st

first_imgIn This Issue. *  Dollar’s all-out assault is stopped.. *  Euro rebounds on cease fire news. *  Aussie 2nd QTR GDP beats expectations! *  China to spend some reserves on shipping. And Now. Today’s A Pfennig For Your Thoughts. Ukraine / Russia Agree To Cease Fire. Maybe. Good Day! .  And a Wonderful Wednesday to you! Man, I had better get my eye checked! I think I’m beginning to read stuff that’s not the way it’s presented! Here’s the skinny: I woke up from a quick and not long enough nap to answer the door yesterday afternoon, and after welcoming the ATT guy into the house, I brought up my work email on my mobile device, and there was an email from our office managing guru, Danielle, telling me about elevator work that would take place around the time I arrive in the morning. “Great! I said, for I had some blood work that I needed to get done tomorrow, so I’ll just stay home, write and then go get the blood work done, rather than get all dialed in at work to leave right away.  Unfortunately, the email said Sept 4.. not Sept 3. UGH! So, I’m writing from home today, when I didn’t have to! The elevator work is tomorrow! What a dolt I am sometimes! Front and Center this morning, there was word earlier that Russia and Ukraine had agreed to a cease-fire. But then the “official word” from the Kremlin came out, and said that the Russian and Ukrainian Presidents had only discussed steps toward peace. There’s been no further discussion on what that meant, or maybe it was just a matter of semantics, but it sounds to me that the Kremlin wants their say before any “agreement” is made. The Currency traders are taking this “non-agreement in stone” as a good sign, and the euro has rallied a little bit. In fact the dollar’s all-out assault on the currencies and metals yesterday, (Gold lost $24) has backed off a bit this morning, albeit the moves are small. I forgot to mention yesterday that there is a bevy of Central Bank meetings this week, and that all gets started today with the Bank of Canada (BOC) meeting.  I don’t expect any surprises from the BOC today, and their neutral bias should remain in place. The recent data from Canada, as chronicled here in the Pfennig, has been upbeat, but I doubt it’s enough. yet that is. Oh, and before I forget again. which, I might add, seems to be happening to me more and more these days, the other central bank meetings this week include the European Central Bank (ECB), The Bank of England (BOE), and the Bank of Japan (BOJ). And we can’t take our eye off the ball with regards to the Jobs Jamboree, which will take place on Friday this week! So, an event-full week, but in the end it will be just a bunch of boondoggles and cooked booked. The Biggest mover overnight, is the Aussie dollar (A$).  Australia printed their 2nd QTR GDP last night, and it showed a solid number of .5% for the QTR and 3.1% year on year. That beat the expectations, and the A$ has reversed yesterday’s selling on the news. I did see “something” as a doctor might say to a patient, that we’ll have to keep our eye on. The Personal Income component of the GDP report showed a -.6% decline in disposable income.  That’s not a good sign for the 3rd QTR. Just like I told you yesterday about how the Personal Income decline in the U.S. was not good for 3rd QTR GDP, the same will hold true for Australia, unless.. this was just a blip, and the next two months turn around, which is why I say we’ll have to keep our eye on this.  But for right here ,right now, the A$ is in rally mode, so don’t stop it now, it’s on a roll!  Remember when the Germans bombed Pearl Harbor? The Germans bombed Pearl Harbor? Don’t Stop him he’s on a roll.  HAHAHAHAHA! One of the funniest scenes ever in a movie. On a side bar.  A few years ago,  used that line about the Germans bombing Pearl Harbor, and I actually had a few readers send me notes telling be that it was Not the Germans, but the Japanese that bombed Pearl Harbor. That made the whole line even more funny! Of course the actual bombing is not, was not funny. I’m strictly talking about the line in the Animal House movie! Back to Australia for a minute. Reserve Bank of Australia (RBA) Gov. Stevens, made some comments after the 2nd QTR GDP report printed last night, and in his speech, he made a tactical error, and sound hawkish. I’m certain that he didn’t mean to do this, but h did, and the A$ was the beneficiary. I wouldn’t be surprised to see him come out with a retraction. There’s news this morning from two of my fave currencies / countries. Sweden and Norway, and none of the news is good.  In Sweden, the markets are calling for the Riksbank to implement unconventional methods to reach their target inflation rate. Read, Quantitative Easing / QE. I shake my head in disgust, for this Central Bank USED to be prudent and kept their eyes on price stability. And in Norway, the latest data from Statistics Norway, their latest survey of Oil producers and explorers suggest an 18% drop in investments next year. So far in 2014, they’ve seen a 14% decline in investments. So a further drag on the Norwegian economy next year, folks. Of course this is where you reach back in the memory bank and recall that Chuck told you of the huge cash reserves from Oil that Norway is holding, and you say, “But, Chuck, doesn’t the Norwegian Gov’t have a 140.9 Billion krone revenue pile that they could use to plug deficits and support growth during this slowdown?” And I would say, yes! You, dear reader, get a Gold Star! Both the Eurozone and he U.K. printed their latest Services PMI’s this morning, and it was like two ships passing in the night. the U.K. Services industry printed above expectations, while the Eurozone’s print was slightly weaker. But still above 50 (actually at 52.5) But this morning is all about the cease-fire, no cease-fire between Ukraine and Russia.  And any sign that the sanctions could be removed would be HUGE for the Eurozone! Gold has found a bid this morning, albeit a small bid, after losing some major ground yesterday. So, Gold loses $24 on a day when the U.S. announces air strikes in Somalia, and Russian President, Putin rates his saber, and then turns around and gains a couple of shekels when a cease-fire is announced. Now, you tell me, where the logic is in all of that! And the metal that has had the best performance so far this year, gaining 22% to date, Palladium, is getting whacked badly this morning on the cease-fire news. I have to say that I’m taken back a step or two watching this price movement in Palladium, given the need of the metal in industrial use hasn’t changed. But, the interruptions of delivery that hung over the metal like the Sword of Damocles, from strikes, earlier this year in S. Africa, and now the conflict in Russia/ Ukraine, seem now to be a thing of the past. But, I don’t think this is anything to get upset about! Look at this whacking of Palladium’s price as an opportunity to buy at a cheaper price. That’s how I look at it! The Chinese renminbi was allowed to appreciate last night.. You know how I always tell you, be yourself, no wait! No time for Mr. Wizard Chuck! I always tell you about China’s treasure chest of reserves that they can use to help the economy when they see a problem ? Well, here’s a classic case of what I’m always telling you. It was reported by the State Council overnight, that Beijing plans to build an efficient shipping system by 2020. Don’t you love it when a country makes investment in their future? So, besides the BOC meeting this morning which will most likely be a non-even, the U.S. Data Cupboard has the conn today.. Since Friday will be the Jobs Jamboree, we’ll see the ADP Employment Report for August today. the ICSC-Goldman Store Sales report, and Factory Orders. The Gallup Poll people are putting together an index on U.S. Job Creation, which should be interesting.. The U.S. Data Cupboard did produce a stronger than expected ISM Manufacturing Index (59 in August VS 57.1 in July), just as I thought, and said it would probably do, given the weakness in the dollar, but, as I also said, I would expect this index number to come down in the coming months given my expectation of a short-term dollar rally.  You see, the dollar’s value goes a long way toward whether Manufacturing cooks or not. The last time the ISM Index was this strong was March 2011.  And we had QE up to our eyeballs, so everything gets thrown out of whack as far as looking at fundamentals and history. But think you get the picture. For What It’s Worth.Well, I’ve told you all about the agreement that China and Russia signed a couple of months ago whereas Russia agreed to supply China with gas.. Well, there was news this weekend that I found at www.zerohedge.com  on this story, and it involves the largest gas pipeline in the World to link the two countries.  here’s a snippet. “If after months of Eurasian axis formation, one still hasn’t realized why in the grand game over Ukraine supremacy – not to mention superpower geopolitics – Europe, and the West, has zero leverage, while Russia has all the trump cards, then today’s latest development in Chinese-Russian cooperation should make it abundantly clear.  Overnight, following a grand ceremony in the Siberian city of Yakutsk, Russia and China officially began the construction of a new gas pipeline linking the countries. The bottom line to Russia – nearly half a trillion after China’s CNPC agreed to buy $400bn in gas from Russia’s Gazprom back in May. In return, Russia will ship 38 billion cubic meters (bcm) of gas annually over a period of 30 years. The 3,968 km pipeline linking gas fields in eastern Siberia to China will be the world’s largest fuel network in the world.” Chuck again. yes, it’s happening right before us folks. the “shift” away from a dependence on the U.S. But then long time readers will say to themselves, Hey! But Chuck has been telling us this was going to happen because of the debt buildup and history for a long time! And you would be correct! To recap. the dollar’s all-out assault on the currencies and Gold yesterday has backed off this morning with the news that maybe a cease-fire between Ukraine and Russia has been made and maybe not. Australia printed a strong 2nd QTR GDP, well stronger than expected, and RBA Gov. Stevens ended up on the hawkish side of statements, and I’m sure he didn’t mean to! Gold got whacked yesterday, but has wrapped a tourniquet around the bleeding this morning, while Palladium takes over at the bloodletting table for Gold. Not good news from Sweden and Norway this morning, and the Bank of Canada meets today, should be a non-event. Currencies today 9/3/14. American Style: A$ .9325, kiwi .8325, C$ .9175, euro 1.3160, sterling 1.6460, Swiss $1.0895, . European Style: rand 10.6965, krone 6.2045 ,SEK 6.9915, forint 238.75, zloty 3.1870, koruna 21.0315, RUB 36.92, yen 105.05, sing 1.2520, HKD 7.7505, INR 60.49, China 6.1697, pesos 13.09, BRL 2.2435, Dollar Index 82.83, Oil $93.71, 10-year 2.45%, Silver $19.17, Platinum $1,409.88, Palladium $879.00, and Gold. $1,267.80 That’s it for today. What  a dolt I am for that elevator repair mix up. UGH! It looks really froggy out this morning.  Spell checker didn’t like my version of foggy, but I told it to deal with it! Another exciting win by my beloved Cardinals last night, I sure hope this time it’s for real, and no false dawn like we’ve seen all season long! Speaking of froggy, it reminds me of many years ago, when Kathy & Chuck were driving to St. Louis from Des Moines, Ia. The fog was so thick that the only way I could continue to drive was to crack the door open so I knew where the white line on the road was. That was dangerous, yes, I know it. Just shows how desperate we were to get out of Des Moines and back home to St. Louis!  Well, after about 6 years, I finally had to have a new wireless modem put in the house. I was going crazy with all the interruptions to my TV! Hey! It’s college football season, baseball playoffs are around the corner, and the NFL starts tomorrow night, I had to get that fixed! HA! I noticed at the grocery store this past weekend that they had HUGE displays out of Halloween candy already.. UGH!  What? I next week too early to get the Christmas stuff out?  Our Hockey Blues were showing off their new jersey last week. Everything runs together now I guess! Oh well. I’ve got to get this to Mike for the finishing touches, I hope everyone has a Wonderful Wednesday! Chuck Butler President EverBank World Marketslast_img read more


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first_img Recommended Links Editor’s Note: In yesterday’s Weekend Edition, Casey Research founder Doug Casey explained why gold stocks can offer 10 times or even 100 times returns on your money. Today, Doug explains how to stack the odds in your favor when buying gold stocks… Doug Casey: You know, I first started looking at gold stocks back in the early 1970s. In those days, South African stocks were the “blue chips” of the mining industry. As a country, South Africa mined about 60% of all the gold mined in the world, and costs were very low. Gold was controlled at $35 per ounce until Nixon closed the gold window in 1971, but some South Africans were able to mine it for $20 an ounce or less. They were paying huge dividends. Gold had run up from $35 to $200 in early 1974, then corrected down to $100 by 1976. It had come off 50%, but at the same time that gold was bottoming around $100, they had some serious riots in Soweto. So the gold stocks got a double hit: falling gold prices and fear of revolution in South Africa. That made it possible, in those days, to buy into short-lived, high-cost mining companies very cheaply; the stocks of the marginal companies were yielding current dividends of 50-75%. They were penny stocks in those days. They no longer exist; they’ve all been merged into mining finance houses long since then. Three names I remember from those days were Leslie, Bracken, Grootvlei…I owned a lot of shares in them. If you bought Leslie for 80 cents a share, you’d expect, based on previous dividends, to get about 60 cents a share in that year. But then gold started flying upward, the psychology regarding South Africa changed, and by 1980—the next real peak—you were getting several times what you paid for the stock in dividends alone, per year. Louis James: Wow. I can think of some leveraged companies that might be able to deliver that sort of performance if gold goes where we think it will. So, where do you think we are in the current trend or metals cycle? You’ve spoken of the Stealth, Wall of Worry, and Mania Phases of a bull market for metals—do you still think of our market in those terms? Doug: That’s the big question, isn’t it? Well, the last major bottom in this sector was from 1998 to 2002. Many of these junior mining stocks—mostly traded in Canada, where about 75% of all the gold stocks in the world trade—were trading for less than cash in the bank. Literally. You’d get all their properties, their technology, the expertise of their management, totally for free. Or less. L: I remember seeing past issues in which you said, “If I could call your broker and order these stocks for you, I would.” Doug: Yes. But nobody wanted to hear about it at that time. Gold was low, and there was a bubble in Internet stocks—why would anyone want to get involved in a dead duck, 19th century, “choo-choo train” industry like gold mining? It had been completely discredited by the long bear market—but that made it the ideal time to buy them, of course. That was deep in the Stealth Phase. Over the next six to eight years, these stocks took off, moving us into the Wall of Worry Phase. But the stocks didn’t fly the way they did in past bull markets. I think that’s mostly because they were so depleted of capital, they were selling lots of shares. So their market capitalizations—the aggregate value given to them by the market—were increasing, but their share prices weren’t. Not as much. Remember, these companies very rarely have any earnings, but they always need capital, and the only way they can get it is by selling new shares, which dilutes the value of the individual shares, including those held by existing shareholders. Then last fall hit, and nobody, but nobody, wanted anything speculative. These most volatile of stocks showed their nature and plunged through the floor in the general flight to safety. That made last fall the second best time to buy mining shares this cycle, and I know you recommended some pretty aggressive buying last fall, near the bottom. Now, many of these shares—the better ones at least—have recovered substantially, and some have even surpassed pre-crash highs. Again, the Wall of Worry Phase is characterized by large fluctuations that separate the wolves from the sheep (and the sheep from their cash). Where does that leave us? Well, as you know, I think gold is going to go much, much higher. And that is going to direct a lot of attention toward these gold stocks. When people get gold fever, they are not just driven by greed, they’re usually driven by fear as well, so you get both of the most powerful market motivators working for you at once. It’s a rare class of securities that can benefit from fear and greed at once. – Remember that the Fed’s pumping up of the money supply ignited a huge bubble in tech stocks, and then an even more massive global bubble in real estate—which is over for a long time, incidentally—but they’re still creating tons of dollars. That will inevitably ignite other asset bubbles. Where? I can’t say for certain, but I say the odds are extremely high that as gold goes up, for all the reasons we spoke about last week and more, a lot of this funny money is going to be directed into these gold stocks, which are not just a microcap area of the market but a nanocap area of the market. I’ve said it before, and I’ll say it again: When the public gets the bit in its teeth and wants to buy gold stocks, it’s going to be like trying to siphon the contents of the Hoover Dam through a garden hose. Gold stocks, as a class, are going to be explosive. Now, you’ve got to remember that most of them are junk. Most will never, ever find an economical deposit. But it’s hopes and dreams that drive them, not reality, and even without merit, they can still go 10, 20, or 30 times your entry price. And the companies that actually have the goods can go much higher than that. At the moment, gold stock prices are not as cheap, in either relative or absolute terms, as they were at the turn of the century, nor last fall. But given that the Mania Phase is still ahead, they are good speculations right now—especially the ones that have actually discovered gold deposits that look economical. L: So, if you buy good companies now, with good projects, good management, working in stable jurisdictions, with a couple years of operating cash to see them through the Wall of Worry fluctuations—if you buy these and hold for the Mania Phase, you should come out very well. But you can’t blink and get stampeded out of your positions when the market fluctuates sharply. Doug: That’s exactly right. At the particular stage where we are right now in this market for these extraordinarily volatile securities, if you buy a quality exploration company, or a quality development company (which is to say, a company that has found something and is advancing it toward production), those shares could still go down 10%, 20%, 30%, or even 50%. But ultimately, there’s an excellent chance that same stock will go up by 10, 50, or even 100 times. I hate to use such hard-to-believe numbers, but that is the way this market works. When the coming resource bubble is ignited, there are excellent odds you’ll be laughing all the way to the bank in a few years. I should stress that I’m not saying this is the perfect time to buy. We’re not at a market bottom as we were in 2001, nor an interim bottom like last November, and I can’t say I know the Mania Phase is just around the corner. But I think this is a very reasonable time to be buying these stocks. And it’s absolutely a good time to start educating yourself about them. There’s just such a good chance a massive bubble is going to be ignited in this area. L: These are obviously the kinds of things we research, make recommendations on, and educate about in our metals newsletters, but one thing we should stress for nonsubscribers reading this interview is that this strategy applies only to the speculative portion of your portfolio. No one should gamble with their rent money nor the money they’ve saved for college tuition, etc. Doug: Right. The ideal speculator’s portfolio would be divided into 10 areas, each totally different and not correlated with each other. Each of these areas should have, in your subjective opinion, the ability to move 1,000% in price. Why is that? Because most of the time, we’re wrong when we pick areas to speculate in, certainly in areas where you can’t apply Graham-Dodd-type logic. But if you’re wrong on nine out of 10 of them—and it would be hard to do that badly—then you at least break even on the one 10-bagger (1,000% winner). What’s more likely is that a couple will blow up and go to zero, a couple will go down 30%, 40%, 50%, but you’ll also have a couple doubles or triples, and maybe, on one or two of them, you’ll get a 10-to-1 or better win. So, it looks very risky (and falling in love with any single stock is very risky), but it’s actually an intelligent way to diversify your risk and stack the odds of profiting on volatility in your favor. Note that I don’t mean that these “areas” should be 10 different stocks in the junior mining sector—that wouldn’t be diversification. As I say, ideally, I’d have 10 such areas with potential for 1,000% gains, but it’s usually impossible to find that many at once. If you can find only two or three, what do you do with the rest of your money? Well, at this point, I would put a lot of it into gold, in one form or another, while keeping your powder dry as you look for the next idea opportunity. And ideally, I’d look at every market in every country in the world. People who look only in the U.S., or only in stocks, or only in real estate… they just don’t get to see enough balls to swing at. L: Okay, got it. Thank you very much. Doug: A pleasure, as always. Editor’s note: Doug Casey recently put $1 million of his money in penny gold stocks using the “Casey Method”…a proven way of selecting gold stocks with 5x upside, 10x upside, or more. And now, for the first time ever, he is revealing the secrets behind this lucrative strategy in this free video presentation. The last time we saw a gold market like today’s, the Casey Method found 16 stocks. The stocks more than doubled in 12 months, with an average gain of 313%. And Doug believes that today’s gold boom will even be bigger…the biggest gold mania we’ve ever seen. To learn more, watch this short presentation. As you’ll see, there’s never been a better time to own gold stocks. Don’t buy gold bullion. Do this instead. Your wife and broker might think you’re crazy… But a controversial new gold secret could make you 5 times your money this year, starting with just 60 cents right now. Details here. — “Universal Antidote” Set to Generate $1 Billion in New Revenues One under-the-radar company just created a “universal antidote” that could save up to 1.5 million lives this year… and every year thereafter. It could add $1 billion to its revenues… and send the stock soaring 8,233% over the long term… To find out how you could play this opportunity for maximum profits, click here now.last_img read more


Cant cool off this summer Heat waves can slow us

first_imgCan’t cool off this summer? Heat waves can slow us down in ways we may not realize.New research suggests heat stress can muddle our thinking, making simple math a little harder to do.”There’s evidence that our brains are susceptible to temperature abnormalities,” says Joe Allen, co-director of the Center for Climate, Health and the Global Environment at Harvard University. And as the climate changes, temperatures spike and heat waves are more frequent.To learn more about how the heat influences young, healthy adults, Allen and his colleagues studied college students living in dorms during a summer heat wave in Boston.Half of the students lived in buildings with central AC, where the indoor air temperature averaged 71 degrees. The other half lived in dorms with no AC, where air temperatures averaged almost 80 degrees.”In the morning, when they woke up, we pushed tests out to their cellphones,” explains Allen. The students took two tests a day for 12 consecutive days.One test, which included basic addition and subtraction, measured cognitive speed and memory. A second test assessed attention and processing speed.”We found that the students who were in the non-air-conditioned buildings actually had slower reaction times: 13 percent lower performance on basic arithmetic tests, and nearly a 10 percent reduction in the number of correct responses per minute,” Allen explains.The results, published in PLOS Medicine, may come as a surprise. “I think it’s a little bit akin to the frog in the boiling water,” Allen says. There’s a “slow, steady — largely imperceptible — rise in temperature, and you don’t realize it’s having an impact on you.”The findings add to a growing body of evidence that documents the effect of heat on mental performance, both in schools and workplaces.For instance, a 2006 study from researchers at the Lawrence Berkeley National Lab found that when office temperatures rise above the mid-70s, workers’ performance begins to drop off. Researchers reviewed multiple studies that evaluated performance on common office tasks. The study found that worker productivity is highest at about 72 degrees. When temperatures exceeded the mid-80s, worker productivity decreased by about 9 percent.Another, more recent study compared worker performance in green-certified buildings and typical office buildings. They found a dip in cognitive function linked to conditions in the indoor environment, including higher indoor temperatures and poor lighting.And, when it comes to performance in the classroom, a study funded by the Harvard Environmental Economics Program finds that taking a standardized test on a very hot day is linked to poorer performance. The study includes an analysis of test scores from students in New York City who take a series of high-school exams called the Regents Exams.The author, R. Jisung Park, assistant professor at the University of California, Los Angeles, writes that compared with a 72-degree day, “taking an exam on a 90◦F day leads to a 10.9 percent lower likelihood of passing a particular subject (e.g. Algebra), which in turn affects probability of graduation.”There’s still a lot to learn about how our brains and bodies respond to heat. “We all tend to think we can compensate, we can do just fine” during heat waves says Allen. But he says the “evidence shows that the indoor temperature can have a dramatic impact on our ability to be productive and learn.” Copyright 2018 NPR. To see more, visit http://www.npr.org/.last_img read more


At the beginning of 2018 we made predictions abou

first_imgAt the beginning of 2018, we made predictions about what the year in global health and development might look like in the countries we cover.The pundits we interviewed forecast that 2018 would bring a decline in the number of health workers around the world, inspire more humanitarians to share their #MeToo stories and see more conflict that would drive the world’s humanitarian crises.Our predictors didn’t do too badly. The Lancet’s latest Global Burden of Disease study noted: “The global shortage and unequal distribution of health workers requires urgent attention.” In October, international charities gathered in London to try to tackle sexual harassment in the aid sector. And a 2018 report from UNOCHA found that “conflict remains the main driver of humanitarian needs.”So what should we expect in 2019? We reached out to pundits in global health and development and they came up with nine bold predictions.1. Positive social change will be contagious in Africa.Over the past year, Ethiopia has gone through a historic transformation at breakneck speed, reports NPR correspondent Eyder Peralta. The country welcomed a new reformist prime minister, who forged peace with former enemy Eritrea and freed thousands of political prisoners.Tobias Denskus, a professor of international development communications at Malmo University and the founder of Aidnography, a global health and development blog, thinks that could inspire other African countries. “Eritrea is one of the most isolated, autocratic and dictatorial nations,” he says. “I’m hoping that positive social change in neighboring countries like Ethiopia will lead Eritrea to do the same.” – Malaka Gharib2. Urban slums will grow.The majority of Africa’s population is young — and that so-called youth bulge will mean “more and more people will make the shift from rural to urban centers in search of jobs and opportunity and driven by changing climate,” says Kennedy Odede, co-founder and CEO of the nonprofit SHOFCO, which provides education, grassroots organizing and services like health care and water in the slums of Kenya.The changing urban landscape will be a challenge for governments. They “will have to be responsive to rapid change or risk humanitarian crises and destabilization,” Odede says. If governments do not provide better services for this new urban population, Odede says there could be an “urban spring” — protests and chaos from angry, uneducated, marginalized youth. But he is an optimist: “There is opportunity in this to harness the energy and intellect of young people.” – Marc Silver3. More countries will follow the U.S. example of pulling out of U.N. funding. On January 1, the U.S. formally left UNESCO, the United Nations Education, Science and Cultural Organization. At the end of World War II, the United States helped found UNESCO to preserve the world’s heritage sites and promote the flow of ideas to prevent future conflicts. But then, UNESCO granted full membership to the Palestinians, and the U.S. stopped funding it, NPR reported.This is not the first time that the U.S. has left the U.N. heritage agency. It withdrew once before, in 1984, citing corruption and an ideological tilt toward the Soviet Union against the West, according to Foreign Policy. Tobias Denskus of Malmo University predicts that the U.S. will make further cuts: “I’m worried that as we move closer to U.S. elections, U.N. funding will suffer even more and ultimately weaken [the U.N.].” And he worries the U.S. precedent will cause other countries to reduce their contributions based on their political agenda. – Malaka Gharib4. There will be more significant infectious disease outbreaks — maybe even a pandemic … “We’re seeing a global increase in the spread of infectious diseases,” says Jennifer Nuzzo, a senior scholar at the Johns Hopkins Center for Health Security who leads the Outbreak Observatory, a group that collects information about outbreaks. And she doesn’t expect a change in that pattern.”In fact,” she says, “there are worrying signs that the conditions favoring the emergence of a pandemic — and the impact it would have — are ever more present and possibly getting worse.”These conditions include increased migration that’s exposing people to diseases they’ve never encountered before, densely populated megacities and resettlement camps, vaccine refusals, compromised infrastructures as a result of humanitarian crises like conflict, natural disasters and instability as well as climate change that’s exacerbating disasters and pushing disease-bearing wildlife into new habitats. – Joanne Lu5. … but the odds are good we can beat back a bad outbreak.The ability to respond quickly to pandemics is also increasing, says Nuzzo. For example, the DRC was able to control the first phase of its Ebola outbreak in a couple of months, and there’s now an Ebola vaccine that didn’t exist four years ago when the virus swept West Africa.Still, the second phase of the outbreak – which is now the second largest and second deadliest in history – shows that political instability can stand in the way of such advances.”The case for optimism is that the emergence and spread of diseases may be inevitable, but the impacts that they have on society aren’t,” she says. “We should count on there being very significant outbreaks. Whether they become pandemics is up to us.” – Joanne Lu 6. People who need mental health help will find it on their phone.The fields of mental health and substance abuse treatments are about to take a great leap forward into the digital world, predicts psychiatrist Vikram Patel, professor of global health and social medicine at Harvard University. The solution to fighting stigma and the lack of trained counselors could be right in your pocket – a smartphone or even a plain old flip phone. Counselors with a web connection could learn about effective diagnosis and treatment online. They could ping their patients with online tips. People with depression or schizophrenia or substance abuse in rich and poor countries could use their phones to check in with a counselor, receive guidance or touch base with others facing the same issues. Researchers around the world are also testing a variety of apps. The University of Washington is working on a variety of cellphone-based training and treatment programs in Ghana, where cellphones are common and there’s a broad 3G network. The FDA is working on ways to approve digital programs for cognitive behavioral therapy. And the National Institute of Mental Health in the U.S., which is also predicting greater use of digital technology in the future, already provides a guide for finding effective mental health apps. – Joanne Silberner7. Nonprofit leadership will become more diverse.Bullying, sexual harassment and sex scandals in the humanitarian industry made headlines in 2018, from big aid agencies like UNAIDS to small nonprofits like More Than Me.One solution to this, critics have said, is to hire more diverse and qualified candidates. “Many organizations are realizing that they should diversify to represent views that have been traditionally sidelined,” says Tobias Denskus of Malmo University. “The pressure is increasing to hire more female leaders and hire capable managers from the global south, from the LGBT community who haven’t been included before.””More qualified, diverse candidates from Africa and beyond are knocking at the door,” adds Denskus — now it’s up to the aid organizations to let them in. – Malaka Gharib8. There will be fewer food crises.Dry season has begun in sub-Saharan Africa — the period from roughly November through April or May when the rains stop. As climate change has affected weather patterns, droughts have become increasingly severe.By February, “you see the faces of hungry people from Ethiopia to Kenya to South Sudan,” says Esther Ngumbi, a researcher at the University of Illinois and an Aspen Institute New Voices food security fellow.But in 2019, she is hopeful that the impact of the dry season will not be as dramatic. The reason, she says, is that countries are doing a better job equipping their farmers with water storage systems and encouraging them to plant drought-resistant crops like millet and sorghum, both highly nutritional grains, and cowpeas (aka black-eyed peas), whose seeds are high in protein.Famine and food insecurity will still be part of the 2019 landscape, especially in conflict-torn areas. But Ngumbi is predicts fewer hunger emergencies: “It’s already January, and we haven’t seen new calls for emergency relief.” – Marc Silver9. Wealthy countries will turn away more people seeking asylum. Paul Spiegel, director of the Center for Humanitarian Health at Johns Hopkins Bloomberg School of Public Health, worries that there will be “an increase in denial for people seeking asylum in high-income countries.”As a result of increasing anti-immigration and anti-refugee sentiment, some countries in Europe have begun to “pay off” lower-income countries to shoulder the burden of taking in refugees, he says. In 2016, for example, Germany struck a deal with Turkey to quell the flow of refugees from Syria. In exchange for $6.8 billion, Turkey created facilities to detain refugees in camps while their asylum claims in Germany were being processed. In 2017, Italy followed suit, establishing a similar deal with Libya.Spiegel worries that programs like these will ramp up in 2019 in the U.S. and beyond. “In the U.S., we’re already having trouble with the Mexican border. What’s going to happen when Venezuelans start making their way over here?” he says. For U.S. government officials to stay in power, he predicts they too will take a tougher stance on immigration policy — adopting the idea that the U.S. must “be strong at the borders.” – Malaka GharibYour TurnGot a big, bold prediction for global health and development in 2019? Reply to this Twitter thread with your thoughts, and we’ll share a few in Goats and Soda’s newsletter next week. Copyright 2019 NPR. To see more, visit https://www.npr.org.last_img read more