Dbacks president Derrick Hall Franchise still f

first_img D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ What an MLB source said about the D-backs’ trade haul for Greinke Cardinals expect improving Murphy to contribute right away Top Stories The Arizona Cardinals are not known for having a dominant offensive line. The pieces have changed over the years, yet the results have been, mostly, mediocre.The longest-tenured player on the line is guard Deuce Lutui, who joined the Cardinals as a rookie during the 2006 season. After an acrimonious contract battle last year, Lutui enters this offseason as an unrestricted free agent for the first time in his career.center_img Nevada officials reach out to D-backs on potential relocation Re-up: Coach Ken Whisenhunt is a fan of having continuity along the offensive line, and he already has to replace his left guard, who retired. Lutui knows the system and, when motivated, is an above average run blocker. He is also a fiery player, able to get under the skin of his opponents. Certainly a good guy to have on the team. Reject: Lutui came into camp out of shape last year, showing that unless he was being paid he could not be properly motivated. What will happen when he gets a nice, new contract? Furthermore, he’s not exactly a Pro-Bowler. Lutui has been a stalwart on a line that has struggled; at what point do you cut ties and say “enough’s enough?” Comments   Share   last_img read more

Indications that gas finds will be high in block 10

first_imgBy Elias HazouExxonMobil and Cyprus could hit the jackpot later this year when the US energy behemoth bores down into the seabed in search for natural gas. But according to an energy analyst, the potential windfall could have broader ramifications for the government’s arrangements with other companies operating in the island’s exclusive economic zone.Charles Ellinas tells the Sunday Mail of highly sanguine chatter inside the industry over the potential of block 10, located southwest of Cyprus and licensed to a consortium of Exxon and Qatar Petroleum.The seismic data is extremely encouraging.Weeks ago, Ellinas was speaking to a senior executive of one of the companies that had bid for block 10 but did not get the contract.“He told me: ‘If they [Exxon] don’t find something big there, I’ll quit my job’.”The expert adds the obligatory disclaimer that nothing is for certain until drilling actually commences.But indications are so buoyant that Ellinas says that if Exxon do discover a reservoir, it may hold up to 15 trillion cubic feet (tcf) of gas.That alone would be enough to warrant construction of a land-based natural gas liquefaction facility with three trains (or production lines) of 5 tcf each, per the industry norm.What’s more, says Ellinas, Exxon possess the wherewithal as well as the technical know-how to finance and build the plant themselves.“Exxon always tend to go it alone; that’s how they operate, and they get things done as fast as possible.”The US company is planning two back-to-back exploratory drills in the last quarter.Assuming all goes as planned, the results could be in six months from today.But a bonanza in block 10 would be a real game changer for all players in the exclusive economic zone (EEZ).Should Exxon find a significant amount of gas – even 10 tcf – it would then make sense to likewise divert the gas from the Aphrodite and Calypso fields into a land-based LNG facility.In this way, development of the (potentially) three fields could be combined, rather than developing them on a standalone basis, for example building separate pipelines.The Aphrodite play, in block 12, holds an estimated 4 to 4.5 tcf; and preliminary estimates point to anywhere from 6 to 8tcf for Calypso in block 6.It is for this reason that Ellinas advises both the government and the stakeholders – Noble, Shell and Delek – not to rush with Aphrodite.“They’ve waited years to develop Aphrodite, so what’s another six months until they see what Exxon finds?”His remarks relate to developments this week, when it came out that the Aphrodite consortium is pushing for a renegotiation of their Production Sharing Contract (PSC) with the government.The news was leaked after a briefing given to party leaders by energy minister Giorgos Lakkotrypis.It was reported that the Aphrodite consortium want to amend the PSC because, having crunched the numbers, they’ve found that their profits from developing the reservoir (laying a pipeline to Egypt) might not justify the investment.Energy Minister Giorgos Lakkotrypis in talks with Aphrodite consortium over a renegotiation of their Production Sharing Contract (PSC)It is believed that, under the PSC formula for Aphrodite as it stands, the Cypriot state’s share of profits is between 60 and 62 per cent.Lakkotrypis reportedly told politicians that the government saw best to continue talks with the consortium, in a bid to find a ‘sweet spot’ satisfying both sides.This suggests the government is willing to renegotiate the PSC – but that is a bad idea, says Ellinas.“If they do, it will open a can of worms, as other concession holders in the EEZ will also want to renegotiate their share of revenues. In real terms, this could mean hundreds of millions less for the Cypriot state in the long term.”Whereas the analyst understands why the Aphrodite companies are asking for tweaks to the PSC, he recommends that the government hold fast.Especially since a major Exxon discovery might be around the corner.Lakkotrypis decided to get ‘feedback’ from the political parties regarding the Aphrodite consortium’s request. He is to launch a round of meetings with the parties later this month.Then, in September, the minister will reportedly be summoning representatives of the Aphrodite consortium for new talks, aimed at hammering out a revised deal.Asked about this, Ellinas said that tactically it was a sound move by the minister.“It’s obviously aimed at putting the parties in the loop, so that they cannot later accuse the government of going it alone and fumbling the Aphrodite PSC and losing millions for the state.”On a related front, the expert brought up the matter of Energean’s pitch to Cyprus to build a pipeline from its Israeli offshore gas fields and import 0.5 to 1 billion cubic metres (bcm) of gas per year to the island.Ellinas calculates that the gas could be delivered to Cyprus at less than $6.50 per million btu – substantially lower than what it would cost to import Liquefied Natural Gas (LNG) via the tender put out by the Natural Gas Public Company (Defa).“I don’t understand why Defa are not considering Energean’s offer. If Defa goes with its tender, the final cost – including infrastructures – works out to between $10 and $11 per million btu, resulting in higher electricity prices.“And Cyprus is already one of the most expensive countries in the EU in terms of electricity. So why are we going down this path?”Over and above these issues, there looms the threat of Turkish provocations at sea. The Turkish foreign ministry has stated unequivocally that if the Greek Cypriots proceed with exploration, “We will drill too.”Earlier in the week, Turkish foreign ministry spokesperson Hami Aksoy put foreign diplomats in Cyprus on notice not to overstep, after two foreign ambassadors here hinted that their countries would come to the Republic’s aid in the event of a new standoff at sea.“The Turks will drill, after all that’s why they acquired a drilling platform. The question is where; perhaps in the undeclared EEZ to the north of the island, perhaps off the southern coast of Turkey” Ellinas says.“But not in the Republic’s declared EEZ, I don’t think. Not at this stage, at least.  Although Turkey has made it crystal clear it will stop any new exploration activities in block 3, operated by ENI.” You May LikeLivestlyChip And Joanna’s $18M Mansion Is Perfect, But It’s The Backyard Everyone Is Talking AboutLivestlyUndoPopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndoFinance101[Photos] Wait Till You See The Inside. They Were Tired of Paying Rent, So They Built Themselves A Tiny House. See What It Looks Like FinishedFinance101Undo A new way of doing businessUndoPensioner dies after crash on Paphos-Polis roadUndoAuthorities release five of 12 Israeli rape suspects, seven due in court FridayUndoby Taboolaby Taboolalast_img read more

Rep Allor issues statement on Enbridge Line 5 agreement

first_img State Rep. Sue Allor, of Wolverine, issued the following statement on the legal agreement requiring Enbridge to provide more transparency and take a number of safety precautions, including replacing a section of the pipeline that runs under the St. Clair River:“This agreement, if fulfilled, is a great first step in regaining the public’s trust, which has eroded due to Enbridge’s lack of transparency and history of lying about the condition of Line 5. It is disturbing that the company’s past actions created this need for expanded state oversight, but I’m pleased to see our governor step up the efforts to demand action and hold Enbridge accountable. I also applaud the governor for calling for additional replacement options.“Although the agreement offers much-needed safeguards – such as shutting down Line 5 during periods of adverse weather – to protect our precious natural resources along the full length of the pipeline, in my opinion it doesn’t go far enough. We need to address the issue of the thick ice that accumulates in the Straits in the wintertime, and the impact it could have on preventing crews from responding in the event of a spill. I will continue to monitor the situation and fight to ensure that Enbridge is meeting their obligations.”###Note: State Rep. Sue Allor, of Wolverine, is serving her first term in the Michigan House representing the people of Alpena, Presque Isle, Alcona and Iosco counties, as well as part of Cheboygan County. She previously served three terms as a Cheboygan County Commissioner. Categories: Allor News 27Nov Rep. Allor issues statement on Enbridge Line 5 agreementlast_img read more

Rep LaFave Fiscally responsible budget focuses on schools roads and natural resources

first_imgRoad repairs. Funding will rise to the highest levels in Michigan history as the state addresses one of its most urgent needs. Overall, the state will have pumped more than $2 billion in additional funds into roads and bridges over a three-year period by the upcoming budget year – with more money coming in the future. Savings for taxpayers. A prison would be closed, reflecting successful efforts to reduce Michigan’s inmate population. Budgets for several state departments decline as state government becomes more efficient and eliminates waste. Overall, the House plan spends less money next budget year – continuing a trend of spending less annually while prioritizing what’s most important. Categories: LaFave News,News State Rep. Beau LaFave joined his House colleagues today in approving a state budget that reduces overall spending while still making record-high investments in schools and roads.“This is the first step in a long process, but today we put our best foot forward,” LaFave said.“People in the Upper Peninsula have emphasized the need for better roads, more money going directly into classrooms, and protection of our treasured natural resources,” LaFave said. “This budget is a blueprint for investing in our future with record K-12 school funding, increased investment in skilled trades, and funding to preserve and protect our natural resources. This is all achieved without growing state government.“The budget approved today also includes $2.6 million for additional wildlife testing to monitor the spread of diseases like chronic wasting disease, which could decimate our deer population,” LaFave said. “Hunting is a $2.3 billion industry in Michigan, and preventing the spread of chronic wasting disease is vital to the Upper Peninsula’s economy.”The House plan for the budget year beginning Oct. 1 focuses on:More than a quarter of the House’s overall budget proposal goes to K-12 schools, with $14.8 billion establishing a new record for K-12 investment – including the largest annual per-student increase in 15 years, ranging from $120-240 per student. Early literacy and support for academically at-risk students are priorities. Most schools in the communities I serve will receive $240 per student. Community colleges also receive a 1 percent funding increase to prepare students for the future. 24Apr Rep. LaFave: Fiscally responsible budget focuses on schools, roads, and natural resources Health care. Access to mental health services will be improved so Michigan residents can live healthier, happier and more independent lives. Services to military veterans, problem-solving courts and other efforts reflecting the House CARES initiative would be enhanced. Incentives would be added to provide more doctors in underserved rural and urban areas. Community safety. The plan funds training of 130 new Michigan State Police troopers – putting our trooper strength at its highest level in 18 years. A $1.5 million investment to further reduce the backlog for testing rape kits and develop a statewide tracking system will help ensure a backlog never occurs again. School safety. More than $25 million would be added to improve school security. Campus safety: Provisions to raise standards for handling sexual assault complaints at universities are included. Veteran services. This budget increases funding county veteran service offices that provide vital information to the men and women who served our nation. Each county veterans service office is eligible for a grant of at least $25,000. Workforce development. More than $100 million is added to talent development and workforce preparation programs at the K-12 level, plus significant investments in other programs such as Going PRO. It’s part of the strategy to continue Michigan’s economic comeback, which has seen unemployment drop from 14.6 percent in June 2009 to 4.7 percent last month. Plan emphasizes what matters most to U.P. residents House Bills 5578-9 advance to the Senate as work to finalize the next state budget continues.###last_img read more

Greg Mortenson Explains His Downfall to NBCs Tom Brokaw

first_imgShareTweetShareEmail0 SharesJanuary 21, 2014; TodayIt’s difficult to know whether Greg Mortenson’s recent explanations of his fabricated Three Cups of Tea and Stones into Schools and of his charity’s misuse of funds are a buy or a sell. Would you buy Mortenson’s rationalizations after his mounds of made-up stories of his purported experiences in Taliban-controlled parts of Afghanistan and Pakistan, or might you rate his statements in an interview with Tom Brokaw just more of what led to his public exposure and the subsequent investigations of his charity, the Central Asia Institute?At the time of the CBS 60 Minutes revelations in 2011 of the huge gaps between Mortenson’s stories and the truth, Mortenson’s advocates were sharply critical of CBS and its primary source, Into Thin Air author Jon Krakauer. NPQ covered this story in depth in several newswires. (You can find even more of our stories through our website’s search function.) Earlier this week, on the Today show, Mortenson told Brokaw that, “In maybe a strange, ironic way, I’d like to thank CBS and Jon Krakauer because, had they not brought these issues up, we could have gotten into more serious problems.”It is an odd statement, shifting from the first-person singular to the first-person plural, and he followed that with a denial that he had really lied, just that in the course of editing down his books, “The stories happened, but…not in the sequence or the timing.” It isn’t clear, for example, how that explains the statement in one of his books that in 2000 he held Mother Teresa’s hand while she was lying in state—even though she died and was buried in 1997.He told Brokaw that he has apologized “to people who were very adamant that I make changes” and he apologized more in the interview, but exactly what he’s apologizing for is unclear. When he was compelled by the Montana attorney general to repay $1 million to his own nonprofit, the Central Asia Institute, and step down from its board, he acknowledged that he “really didn’t factor in the very important things of accountability, transparency,” but that doesn’t quite get at the problems that the AG pointed out. At $1 million, Mortenson, claiming he operated from his heart, not his head, got off cheap. The AG’s investigation “found that the charity spent $4.9 million advertising Mortenson’s two books, $4 million buying copies of them to give away to schools and libraries, paid inappropriate speaking fees to Mortenson and had paid for charter flights for family vacations, clothing and Internet downloads.” Not only wasn’t the money quite going to the charity, what the charity claimed to be doing was false. “Nearly 30 of the 54 schools Mortenson’s charity built in Afghanistan…were empty, built by someone else, or not receiving support,” according to the CBS report.What exactly is Mortenson apologizing for? It’s difficult to tell, in part because Brokaw didn’t push for specifics in the interview. According to Today show co-host Matt Lauer, Mortenson’s statement about the “more serious problems” he might have endured had he not been exposed by CBS and Krakauer meant more of Mortenson’s heart condition. He didn’t talk about more problems with the charity itself or the more serious problem of Mortenson’s co-author David Oliver Relin’s suicide in 2012. Brokaw didn’t probe Mortenson’s specific lies in the books or the deeper problems in the charity’s accountability that might not have been revealed by the AG. The former NBC Nightly News anchor is a resident of Montana, like Mortenson, and actually was an early donor to the Central Asia Institute.It also isn’t clear exactly who Mortenson is apologizing to. For example, did he apologize to former Republican Rep. Mary Bono, who was quoted in Three Cups of Tea declaring “Greg is the real thing…and I’m his biggest fan,” personally connected him to high-profile powerbrokers in Washington, and even introduced legislation to give Mortenson a Congressional Gold Medal? Bono remained Mortenson’s defender even after the 60 Minutes exposé.Brokaw reminded Mortenson that America is a nation that gives people second chances, to which Mortenson responded, “I’ve been given the privilege to come back again and be committed to this and do it in a more humble and—understanding way. I’m gonna try as hard as I can never to make the same mistakes again.” For many observers, we’ll bet that they didn’t buy Mortenson’s performance. It’s a sell.—Rick CohenShareTweetShareEmail0 Shareslast_img read more

The German competition regulator the Bundeskartel

first_imgThe German competition regulator, the Bundeskartellamt, has said it has concerns about Liberty Global’s pending acquisition of cable operator Kabel BW, which would give it control of two of Germany’s main players in the cable market.The Bundeskartellamt will reveal its final decision on December 15. However, the regulator has said that it has concerns over concentration of ownership in the cable market, with Liberty Global adding Baden-Württemberg operator Kabel BW to Unitymedia, the North Rhine-Westphalia and Hesse operator that it already owns, and Kabel Deutschland being the major network operator in other German regions.Liberty Global said it would offer to provide full unencrypted digital free-to-air TV services in Unitymedia’s territories and continue to offer the same in Kabel BW’s zone of coverage to meet the regulator’s concerns.last_img read more

An increase in international revenue at AMC Networ

first_imgAn increase in international revenue at AMC Networks international business was offset by increase programming and marketing costs in the cable channel group’s most recent quarter.US MSO Cablevision approved the spin-off of its US and international cable networks into a separate business, AMC Networks, in June. The new unit, which comprises the US and international versions of AMC, IFC, IFC Entertainment, Sundance Channel, WE tv and Wedding Central, filed a quarterly financial report yesterday. It revealed that increased programming and marketing spending were largely responsible for a US$1 million (€740,000) decline in adjusted operating cash flow and US$1 million year-on-year increase in its quarterly operating loss of US$4 million.The losses came despite a 13.8% increase in third quarter revenues that took the total to US$31 million.Overall quarterly revenue of US$284 million was up 4.6% year-on-year. President and CEO Josh Sapan said: “The core of our growth strategy continues to be our investment in original programming. The Walking Dead season two premiere, which was the highest rated dramatic show ever in basic cable history against key adult demos, and our performance in the 2011-2012 upfront, underscores the strength of this strategy.”last_img read more

Ziggo has expanded the number of channels availabl

first_imgZiggo has expanded the number of channels available on its multiscreen service to 12.The Dutch cable operator has released a new version of its app that enables users to view programming on iPhones, iPads and iPods. The update sees Eurosport and National Geographic added to the package. They join Ned 1, Ned 2, Ned3, RTL4, RTL5, RTL7, RTL8, Net5, SBS6, and Veronica.The app now includes a personalised homepage and interaction with social networks including Twitter.Ziggo launched the first version of its app in March 2011.last_img read more

Digital TV CEE CMEs OTT service Voyo now has 55

first_imgDigital TV CEE: CME’s OTT service Voyo now has 55,000 paying subscribers and the CEE region is witnessing an explosion of online video content consumption, according to Robert Berza, head of the internet division at CME. CME also plans to build on its strong local content offering by adding more international content.last_img

Online video platform Dailymotion is today exclusi

first_imgOnline video platform Dailymotion is today exclusively launching a scripted series about a music student who discovers dark government secrets hidden within songs.Three-parter The Dark Prophet comes from Evette Vargas and stars Henry Rollins, Josh Meyers and Chase Felin among others and is billed as ‘The Matrix meets 24’.Dailymotion has partnered with online filmmaker distribution network Renderyard to launch the show across all territories it operates in.Dark Prophet follows a gifted student who finds messages from a covert government agency plotting a world war hidden with the binary code of songs. After bring framed for his girlfriend’s murder, he has to go underground to prove his innocence and stop the agency.Production comes from Digital Reign Productions and Dream Hunters Studios. Writer Vargas executives produces alongside Shannon McIntosh, Carlos Arriaga, Ricardo Reyes and Ariella Levitan.“Dailymotion is designed to make it easy for leading and emerging filmmakers to realise their ambitions by reaching our global audience of 120 million viewers,” said Dailymotion’s VP, international content Marc Eychenne.“We have worked hard to develop and deliver the high quality technology platform that both does justice to the work of young artists and provides agreat viewing experience for our users. We are happy to be bringing more work from upcoming artists to our viewers through this exclusive partnership.”last_img read more

Andrey Dubovskov Russian service provider MTS has

first_imgAndrey DubovskovRussian service provider MTS has extended the contract of current president Andrey Dubovskov for a further three years.Dubovskov’s contract, which was due to expire on March 5 has been extended to 2017. He joned MTS in 2004 as Nizhny Novgorod branch director and was appointed president and chairman in 2011.last_img

Facebook is making a bigger push into the social T

first_imgFacebook is making a bigger push into the social TV space, taking on the likes of Shazam with a new audio recognition function for TV shows, movies and music. Due to roll out on Facebook’s iOS and Android apps in the US in the coming weeks, users will be able to click a new button while updating their status to identify and share what TV show or movie they are watching, or what song they are listening to.The app will use the phone’s in-built microphone to identify the content, with the new function designed to make it quick and easy for users to share what media they are consuming without typing.“If you share music, your friends can see a 30-second preview of the song.  For TV shows, the story in News Feed will highlight the specific season and episode you’re watching, so you can avoid any spoilers and join in conversations with your friends after you’ve caught up,” said Facebook.The audio recognition tool will automatically look for a content match when the feature is turned on. Users can click the audio icon on or off at any time.“If you leave the feature on, you will see the audio icon move and attempt to detect a match when you’re writing a status update. No sound is stored and you’ll always get to choose whether you post to your friends,” said Facebook.The news comes in the same week that Facebook said it is expanding its premium, TV-style, video ads outside of the US to seven new international markets – including the European countries the UK, France and Germany.last_img read more

Conax will exhibit at IBC on Stand 1D69

first_imgConax will exhibit at IBC on Stand 1.D69 Conax will use IBC to highlight new opportunities available to it as part of the Kudelski Group as well as to showcase the newest product features in its flagship Conax Contego security hub and its new, entry-level solution Conax GO Live and a new cost efficient secure client, Conax OTT Access.At the show, Conax says it will demonstrate the benefit of pre-integrated and secure solutions for live and on-demand services for launching OTT and multiscreen services.Solutions demonstrated will include Conax Go Live, a targeted solution for anyone wanting to securely stream live channels to iOS and Android devices. The new solution caters to operators planning an initial pay-TV service with limited investment and a fast time to market, according to Conax.Also on show will be Conax OTT Access, a secure OTT client for iOS and Android that covers the operators’ essential security needs for content such as free to air or other non-premium content. Conax OTT Access is described as cost effective and providing rapid-time-to market and is designed to be interchangeable with the Conax Hardened PlayReady Client in order to facilitate an easy upgrade when facing increased security requirements or need for additional features, according to Conax.Conax will also show the Conax Hardened PlayReady client, a secure DRM client for iOS, Android and set-tops integrating secure link protection with device access and usage control. Conax Hardened PlayReady supports key features such as Live TV and VoD, individualization, authentication and secure playback. The Conax Hardened PlayReady Client supports a wide range of devices, including iOS and Android from 2.3 onwards.Other solutions on show include a hosted online video platform with premium Conax security, Conax Xtend Multiscreen, Conax’s pre-integrated OTT ecosystem spanning live-TV, VoD, catch-up TV and nPVR over OTT, all served from the same back-end in a complete integrated multiscreen experience, and an offering for high-quality, secure CAMs.last_img read more

Brett Sappington Some 57 of consumers in US broad

first_imgBrett SappingtonSome 57% of consumers in US broadband households subscribe to an over-the-top video service like Netflix or Hulu Plus, according to Parks Associates. The research, released ahead of the NAB show in Las Vegas next week, claims that the average US broadband household now spends US$9 (€8.40) per month on Internet video, up from US$7 in 2012.“The number of hours watching video content continues to rise, exceeding 36 hours per week in 2014, with Internet video accounting for 37% of that time, or approximately 13.3 hours a week,” said Brett Sappington, director of research, Parks Associates.“Rather than cannibalising the consumption of broadcast, pay TV, and packaged media content, internet video is increasing overall consumption levels for video,”Parks Associates claims that more than 75% of streaming media player owners have an OTT subscription and that homes with children spend on average 90% more on OTT services and digital video.The research also predicts that almost 50 million streaming media players will be sold worldwide in 2017.last_img read more

Vodafone España has teamed up with OnMobile to lau

first_imgVodafone España has teamed up with OnMobile to launch a dedicated kids app, Kids Planet, with over 3,000 episodes of content aimed at children aged three to 12.Content channels on the app include Sanrio, Planeta Junior, Highlights for Children, Lingo Kids and Motion Pictures.The app will give Vodafone customers access via a range of devices to a catalogue of games, videos, stories and songs featuring characters including Los Pitufos, La Abeja Maya, Heidi, Marco, La Granja de Zenón, Hello Kitty, Érase una vez el hombre, Pororo and Cleo.The app includes parental control features including a secure area that prevents kids from accessing other apps or navigating the open internet, different age-appropriate profiles for children, limits on the number of hours that the service can be used and the ability to track which content has been accessedThe app offers content in Spanish, English and Catalan and allows downloading for offline access. It is advertising-free.Vodafone customers can access Kids Planet on smartphones and tablets, with a one-month free trial. The service is available via Google Play, Vodafone Start and on the web, with iOS availability to follow.last_img read more

National NewsNewsWatch

first_img National NewsNewsWatch New Mexico passenger bus crash kills 3, injures 24 others By Daniella HankeyJul 16, 2018, 04:25 am 359 0 Home NewsWatch National News New Mexico passenger bus crash kills 3, injures 24 others (AP)- A crash involving a commercial passenger bus and three other vehicles on a New Mexico highway early Sunday killed three people and injured 24 others, some critically, authorities said.One of the people killed was in a car that struck a pickup truck from behind around 2 a.m. Sunday on Interstate 25 just north of Bernalillo, about 18 miles (29 kilometers) north of Albuquerque, Sandoval County Sheriff’s Office spokesman Lt. Keith Elder said.The bus driver took evasive action to avoid hitting the disabled car and its driver, who was ejected. But the bus driver lost control and the bus rolled onto its right side. It was then sideswiped by a semitruck, according to Elder.Rio Rancho Fire Rescue said emergency crews had to extricate several people who were trapped in the bus using a tool that pries open parts of a vehicle.Photos show a mangled car that’s almost entirely flattened and the bus on its side.At least two of the injured were airlifted from the scene by medical helicopters.It wasn’t immediately known whether the other two persons who died were bus passengers or were in one of the other vehicles involved.Elder said the names of the three dead were being withheld until relatives could be notified.Sheriff’s officials said 35 people were on the bus operated by El Paso-Los Angeles Limousine Express. Its vehicles service cities in the Southwest and Mexico.Bus company president Jerry Rosenbaum said the bus had started from Denver and was en route to El Paso, Texas. According to Rosenbaum, two drivers were on the bus and they were among those hospitalized. Travelers who didn’t require hospital treatment were placed on another bus.Rosenbaum said the company has cooperated with authorities and will help provide transportation for any passengers upon their release from the hospital.“As difficult as it’s been for me, I keep in mind that what the passengers and their families have to go through is much worse,” Rosenbaum said.Emergency responders reported treating 38 people at the accident scene with injuries ranging from broken bones and lacerations to head and internal injuries, authorities said.Twelve of the injured were taken to University of New Mexico Hospital, where three were in critical condition, officials said.Eight patients were taken to another hospital, and authorities said six were treated and released.The accident closed Interstate 25 in both directions for more than 11 hours. Mail Facebook Google+ Linkedin Twitter Pinterest Tumblr Previous Post33 passengers hospitalized after flight depressurizes Next PostBlue Jays Bounce Back with Win Over Danville Daniella Hankeylast_img read more

Tyler Barker Tyler

first_img Tyler Barker Tyler Barker is currently the Interim News Director and Digital Content Manager for WOAY-TV. I was promoted to this job in Mid-November. I still will fill in on weather from time to time. Follow me on Facebook and Twitter @wxtylerb. Have any news tips or weather questions? Email me at tbarker@woay.com Previous PostOak Hill Man Wanted In Florida Has Been Arrested For Sexual Battery And Molestation Pinterest Mail Next PostReconnecting McDowell to Break Ground on Apartment Building in Spring 2019 Home NewsWatch CrimeWatch News Man Arrested For Stealing A Fayette County Woman’s Identity Facebook Tumblr FAYETTEVILLE, WV (WOAY) – A Wheeling man is in jail for stealing a Fayette County woman’s identity.According to court documents, the Fayette County Sheriff’s Department started an investigation after they were contacted concerning fraudulent use of a debit card by Mark Frazier.The victim gave deputies copies of transactions made which varied at different locations about the State.Frazier made a total of three unauthorized transactions to the victim’s bank account which totaled $408.50. He also transferred $200 from the victim’s account.Fraizer is charged with two counts of taking the identity of another person, one count of petit larceny, and three counts of fraud.  Fraizer is in jail on a 50,000 dollar bond. Linkedin Google+ CrimeWatch NewsFeaturedNewsWatch Man Arrested For Stealing A Fayette County Woman’s Identity By Tyler BarkerSep 25, 2018, 15:27 pm 549 0 Twitterlast_img read more

Loophole lets you tap Big Oils cash stash… Big

first_img“Loophole” lets you tap Big Oil’s cash stash…Big Oil made out like bandits when gas prices hit $4.How about using this little-known “loophole” to get some of that cash back?And not just a tiny stock dividend either — this can pay you up to three times the income most stocks or bonds pay. Even though this move has nothing to do with the stock market.Watch this video below for details. It was apparent, at least to me, that not-for-profit sellers were about in both the metals and their respective shares again yesterday.The gold price was up about twelve bucks or so just a few minutes before 9:00 a.m. in London yesterday morning…and that was the high tick of the day.  From there, the price swooned five dollars or so before almost regaining its old high shortly before 1:00 p.m. GMT…about twenty-five minutes before the Comex opened at 8:20 a.m. in New York.From that secondary high, the gold price got sold off about a percent, with the low of the day [$1,714.90 spot] coming at 9:45 a.m. Eastern time.  The subsequent rally ran into a not-for-profit seller at precisely 11:00 a.m…and from that point, the gold price got sold off about five bucks into the close of electronic trading at 5:15 p.m.The gold price closed at $1,721.90 spot…down 20 cents from Friday.  Net volume was very light at 94,000 contracts, give or take a thousand or so.In fits and starts between the Sunday night open…and its high of the day a few minutes before 9:00 a.m. in London…the silver price rose about 45 cents.  But, once again, the moment that it broke through the $34 spot price level, a not-for-profit seller showed up and sold it down about two bits.The price more or less stayed at that level until precisely 1:00 p.m. in London [twenty minutes before the Comex opened]…and then selling began anew, with the low of the day coming at 10:15 a.m. in New York.And, like gold, the subsequent rally in silver ran into a not-for-profit seller at precisely 11:00 a.m. Eastern as well.  The subsequent rally ended shortly after the Comex closed for the day…and silver traded sideways for the rest of the Monday trading session.Silver closed the Monday trading day at $33.72 spot…up the magnificent sum of 13 cents.  Net volume was a rather small 25,000 contracts.The dollar index gapped down about thirty basis points right at the open on Sunday night in New York…recovered most of that within an hour…and then rolled over…hitting its low of the day [78.62] at 8:45 a.m. in London [3:45 a.m. Eastern]…which happened about ten minutes before the high tick of the day in both metals.From that low, the dollar index steadily gained back about 40 basis points of its loses by the close of trading late in the New York afternoon…and the index closed a few basis points above the 79.00 mark…and is still heading higher as of this writing, which is 11:04 p.m. Eastern.The dollar index finished unchanged from its Friday afternoon close in New York.A cursory glance at the Kitco gold chart above shows that the gold price was rather reluctant to head south as the dollar headed north…and the last two sell offs of the day [7 and 11 a.m. Eastern time] look like the handiwork of not-for-profit sellers, as every time they stopped selling, the price rose.  Ditto for silver…and platinum.The gold stocks gapped up at the open, but one or more not-for-profit sellers used the opportunity to beat the stocks into the red by 10:15 a.m. Eastern…and the moment that the subsequent rally made back into positive territory, there was someone waiting to sell it off once again.It’s as plain as day that the gold stocks would have finished in the black if it wasn’t for this indiscriminate selling.  Sprott Asset Management’s John Embry and I [plus many others] are in full agreement on this one…that ‘da boyz’ are not only dicking with metal prices themselves, they are managing share prices as well.The HUI closed down 0.47% yesterday.The silver shares were a mixed bag yesterday…and Nick Laird’s Silver Sentiment Index actually close up 0.04%.(Click on image to enlarge)The CME’s Daily Delivery Report showed that only 10 gold contracts…but a rather large 127 silver contracts…were posted for delivery tomorrow.  In silver it was, as usual, Jefferies as the short/issuer…and the Bank of Nova Scotia and JPMorgan as the big long/stoppers…receiving 108 of those issued contracts.  UBS stopped 14 contracts.We’re about half way through February…and 585 silver contracts have already been delivered so far this month.  This goes along with the 1,600 of so that were delivered in January.  These are amazing amounts for these two months which, as I’ve said before, are not normal delivery months for silver.Both Ted Butler and myself would love to be flies on the wall over at Jefferies these days, as they’ve been the short/issuer on just about every one of these 2,200+ contracts delivered since the beginning of the year.  That’s 11 million ounces dear reader…over five days of world silver production in total…and that ain’t chopped liver.The link to yesterday’s Issuers and Stoppers Report is here.There were no reported changes in GLD yesterday…but over at SLV, authorized participants withdrew 1,360,461 troy ounces of silver.There was a small sales report from the U.S. Mint yesterday.  They sold 1,500 ounces of gold eagles…500 one-ounce 24K gold buffaloes…and 25,000 silver eagles.  The month-to-date totals aren’t worth mentioning…and the mint isn’t even close to selling a million silver eagles yet this month.Friday was pretty slow over at the Comex-approved depositories, as they didn’t receive a bar of silver…and only shipped 46,522 ounces of the stuff out the door.  The link to this little bit of activity, is here.On Friday I forgot to check the short interest in silver over at the shortsqueeze.com website.  I normally check it every day, but with the Commitment of Traders Report…and the Bank Participation Report to write about in Saturday’s column as well, it just never crossed my mind.  However, silver analyst Ted Butler didn’t forget…and this is what he had to say about what he saw…“The first big development this week is one that caught me by surprise, although perhaps I shouldn’t have been completely surprised. I’m speaking of the new report on the short position in shares of SLV, as of the close of business January 31st. Where I was girding for an increase in the short SLV position (since we climbed nearly $4 in price for the two week reporting period), instead there was a very big decline in the short position of more than 35%. The short position in SLV declined by 9.4 million shares (ounces), from 26.6 million to under 17.2 million shares. This is the biggest two-week reduction in the SLV short position in my memory…and the first I can recall when silver prices were advancing. The decline in the SLV short position brought it down almost 50% from the high-water mark of over 36 million shares in the spring of 2011. Here’s the link to SLV’s short position over at shortsqueeze.com.”“I admit to doing a double-take when I first glanced at the numbers. As I previously reported, towards the end of December, I received a very threatening letter from lawyers representing BlackRock, the sponsor of the SLV, demanding that I cease defaming their client on the shorting SLV issue. By coincidence, on the same day I received the letter, I got a call from a fellow subscriber and friend (who is a European money manager) and when I told him about the letter, he told me that it probably meant that BlackRock was taking this very seriously and would move to get the SLV short position reduced, despite the threatening tone of the letter to me. I told my friend that I thought (and hoped) that he was correct and we would see if we were correct in future short reports as they were released.”“I can’t help but feel that the most plausible explanation for the dramatic reduction in the SLV short position (especially on rising prices) is as my European friend predicted, namely, that BlackRock came to realize that the shorting of SLV was fraudulent and manipulative and they were working to eliminate it. Of course, I don’t want to be overly optimistic…and if we witness future big increases in the short position of SLV, that would indicate [that] we were back to the old fraud and manipulation in the shorting of those shares. But let’s take it one day at a time and reserve judgment on whether we go back to the bad old ways of short selling in SLV.”Before heading into the stories I have for you today, here’s the chart of the U.S. M3 money supply updated as of Friday’s close.  It’s a pretty sick looking puppy…and if this continues for any length of time, we’ll see the Fed begin QE3 pretty quick, as deflation is not on their play list.  I thank Nick Laird for sending it to me.(Click on image to enlarge)Being a typical Tuesday column, I have a lot of stories for you today.  I hope you have time to skim them all.Life isn’t about finding yourself…it’s about creating yourself. – Author UnknownIt was apparent, at least to me, that not-for-profit sellers were about in both the metals and their respective shares again yesterday, as both gold and silver…and the shares…would have had a much better time of it they hadn’t made an appearance.  There was nothing free market about Monday’s price action.But since volumes were pretty light, it wasn’t difficult to shove the metal prices around…and as I noted further up, silver was not allowed to closed about $34 spot again.In about ten days we have option expiry for the March contract…and I’m wondering whether or not JPMorgan et al will take the opportunity to lean on the metals as we head into that date.  We’ll find out soon enough I would think.Overnight, both metals declined as the dollar continued to rise…and the moment that London opened for business, both metals got sold off a bit more.  As of 5:04 a.m. Eastern time, gold is down a few dollars and silver is down about 30 cents.  The dollar index is up just a bit over 25 basis points…and appears to have topped out about an hour before London began trading.  Volume in both metals is starting to get up there…and it’s obvious that the ‘inflate, or die’ news from the Bank of Japan had no impact on the gold price, at least not for moment.  Jim Rickards is right…currency wars it is…and it’s only a matter of time before the precious metal prices begin to reflect that.That’s it for today.  I’ll see you here tomorrow. 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One Month Ago

first_imgOne Month Ago Silver34.6928.9240.25 The #1 Reason Inflation Will WinJeff Clark: I was struck at our summit by how many speakers have come to the same basic conclusions we have – that there’s really no way out of the US debt hole. That has a lot of implications, but first, in your view, how bad is it?Terry Coxon: It isn’t so bad that you should think of it as the end of the world, but there is a lot of trouble stored up, and I think “no way out” describes the situation accurately. Most of our economic trouble has been built up by government actions to solve past problems, and what they’ve done is to buy time and provide painkillers, but in doing so they’ve made the problems even worse.Jeff: Why, specifically, is there no way out?Terry: Let’s start with the Federal Reserve and the money supply. In response to the collapse of the housing bubble and most financial markets in 2008-2009, the Federal Reserve began printing like crazy. The monetary base more than doubled, and the M1 money supply at this point has risen a little over 60%. The reason we haven’t seen rapid price inflation is that people are still squirreling away dollars because they’re still very worried about the prospects for the economy. But that’ not the end of the story. The Federal Reserve will keep printing – as everyone knows by now, Mr. Bernanke has pledged allegiance to the printing press and assured the markets that the printing isn’t over and won’t be over until the economy revives.Sooner or later, the Federal Reserve will have created so much cash that many people – maybe most people – will be glutted with dollars, and buying anything will look good compared to holding on to more dollars. At that point, the urge to buy – whether it’s capital goods or consumer goods or commodities – will revive the economy, and the recession will come to an end. That will reduce the level of caution people feel to something near normal. The result will be that all of the excess money that has been created since 2008 will come pouring out. For a little while it will look like happy days are here again – the economy will seem to be booming. But then the excess cash will set off hair-curling price inflation. And that’s just the monetary side of the problem.Now look at the budget side of the federal government. They have been operating on the old Keynesian formula of deficit spending to revive a stagnant economy. What Lord Keynes perhaps never considered was that even if that prescription worked – and there is precious little evidence that it does work – there is a limiting factor over the long run. That limiting factor is the ability of the government to service debt that gets larger and larger. The US balance sheet is already at the gateway to the danger zone. When accumulated debt exceeds annual gross domestic product (think of it as annual income for the whole country), that’s where governments start to get into trouble in the capital markets.Now the budget situation – or the debt-financing situation for the US Treasury – has been made exceptionally easy by the exceptionally low interest rates that have been engineered by the exceptionally rapid growth in the money supply. When the economy starts to revive, interest rates will go up, and then the cost to the US Treasury of rolling over its now $16 trillion in debt will become a noticeable element in the overall budget. That pushes the government closer to a debt spiral, where the rise in interest rates makes it more expensive to service debt, which means the debt accumulates even faster. At that point, doubts about the ability of the government to service the debt over the long run forces another kick up in the government’s borrowing costs. It becomes a nasty and vicious feedback cycle that is similar to what is going on now in Greece and Spain. This is a predicament the US government is just whistling about. They’ve closed their eyes to the risk.So between the built up inflationary pressure that will come roaring out when the economy revives and the constantly growing US government debt, there is no solution to the economy’s problems that is politically acceptable.Jeff: Some economists think we’ll eventually grow our way out of this. We’re still the superpower of the world and still generate a lot of GDP, so can’t growth eventually pay back all this debt?Terry: In principle, such a thing is possible, but it would require political measures that are impossible. They would have to throw out most regulation of the economy, sell off an empire of unneeded real estate, stop using soldiers, ships, and planes as pieces in a “big boys’ really big chess set,” and starting saying “no” to the many people – both rich and poor – who now live off the government.Jeff: Why aren’t more economists expressing concern or even outrage over the predicament we’re in? It seems so obvious.Terry: If you studied economics when you went to school, the economics department probably was within a short walk of the science building, where they studied physics and chemistry. That leaves people with the false impression that economics is a hard science like physics or chemistry, where there are clear, proven principles anyone can test and everyone can agree on. In fact, economics today is about where medicine was in the 17th century, when people were debating whether the blood circulates through the body or just sits there. That was the level of knowledge by the best minds of the day, and it is the level of understanding by economists today. So you shouldn’t be surprised that most economists are sure that most other economists are wrong.Jeff: So what happens – high inflation? There are some strong deflationary signals in the economy right now.Terry: Even if there are episodes of deflation, they will just inspire even faster money printing. In the contest between inflation and deflation, inflation always gets another turn until it wins.Jeff: Good point. Is inflation imminent? The CPI is still pretty low.Terry: Well, it’s never going to be imminent in the sense that today it’s not happening and next week it is happening. It’s more like a river rising. And when you see the economy start to revive, the rate of price inflation will start rising noticeably in a year or year and a half.Jeff: This has obvious investment implications.Terry: Yes. You and your family should think about how to protect yourselves, and the formula sorts out to something very simple. One, you need some gold in your financial life, and two, you don’t need any bonds in your financial life.Jeff: Yes. Anything else?Terry: Well, those are the most obvious – gold yes, bonds no. You should also keep a good holding of cash in your investment portfolio, because there probably will be one or more replays of what we saw in 2008 and 2009. And when that happens, you will be glad you have cash because you can take advantage of the bargains.Conventional stocks are a bit of a quandary. On the one hand, the equity market welcomed the restarting of the printing press. On the other hand, the equity markets, as they go up, are diverging from economic reality. So I suggest thinking of a portfolio of conventional stocks as a machine that sits in your office and churns out ten-dollar bills, but eventually is going to blow up. If you want to take the risk that you’ll know when to get out, well, at the end of the day, if you’re right and you get out in time, you will be glad that you invested in conventional stocks. If you are thinking about a portfolio that you can just put away and forget about, then conventional stocks should not be part of it.Jeff: Bernanke said the $40 billion of bond-buying every month is open ended, implying it could last awhile. Any sense for how long it goes on before the economy revives?Terry: Open-ended is an extraordinary thing to announce. The fact isn’t surprising, but I am surprised they would ‘fess up to it.The picture I have is someone sitting next to a pile of damp firewood, lighting matches and just throwing them on. Eventually those matches are going to dry out the firewood, and then you will get a big blaze; and that’s what the Federal Reserve is doing to the economy right now. The difficulty is that if you’re in charge of printing all the new dollars, you won’t know that you’ve printed enough until you’ve printed way too much.Jeff: That implies gold and silver prices have a long way to go yet.Terry: Yes, I certainly believe so.Jeff: What kind of price levels do you expect?Terry: The only reasonable thing that I can say is, a lot higher. The reason that it doesn’t do much good to put a number on it is that we don’t know how long rapid rates of inflation will run.Jeff: What about gold stocks? If you’re lukewarm on the stock market, can gold stocks still do well?Terry: The basic answer is, if you want to own stocks right now, don’t own red stocks, don’t own blue stocks, own gold stocks.Jeff: Silver is considered a monetary metal, too, but is there a scenario under which gold does well but silver does poorly?Terry: Yes: runaway inflation and a very sick economy that is not consuming a lot of silver. That could leave silver behind, but it would have to be a very ugly economic situation.Jeff: But wouldn’t the Fed just print more money and make silver as attractive as gold?Terry: Not necessarily. The demand for gold is financial demand, period. Silver is a different story altogether. It is partly financial demand and partly industrial consumption.Jeff: What odds do you give for something like that happening?Terry: I don’t expect that to happen. If it happens at all, it’s years away.Jeff: So the bottom line to all this is, make sure you own enough gold.Terry: That’s exactly right.Gold and Silver HEADLINESMining Investment to Grow Ever More Complex and Costly, Industry Leaders Fear (Mineweb)Baker & McKenzie surveyed more than 300 senior mining industry leaders across six mining jurisdictions – Australia, Brazil, Canada, China, Indonesia, and South Africa. The key themes in the study were the complexity of the legal and regulatory environment, political stability, resource nationalism, access to infrastructure, and skilled labor. A common thought expressed by the majority of the respondents across these jurisdictions is that “investing in mining is becoming more difficult and less certain,” and they believe that mining sector investment will continue to be more complicated.This research confirms what other mining industry surveys report. Resource nationalism, named the #1 threat for mining, is expected by the majority of respondents (78%) to increase over the next 20 years. That’s why it is so important to understand investor friendliness of any given jurisdiction. And navigating the political landscapes is exactly what we do in International Speculator and BIG GOLD.Silver ETF Holdings Nearing Record Levels (Silver Institute)The Silver Institute reports that silver ETF holdings have totaled more than 608 million ounces with a value of US$20.5 billion through September 15. Investors have added more than 32 million ounces to their silver ETF accounts so far this year. Investor demand was one of the most important factors cited in silver’s recent price rise.“Investors and analysts are bullish on expectations that additional central banks will do more to attempt to stimulate economies in order to increase consumption and spur employment, leading to even greater investor attention on the 4,000 year allure of silver as a safe haven and a store of value,” said Michael DiRienzo, Executive Director of the Silver Institute.We agree that investor interest for silver will drive the price higher. TSX (Toronto Stock Exchange)12,383.6012,116.9211,955.01 Gold1,784.501,639.501,793.00 Copper3.773.463.75 Oil91.8796.6885.92 Silver Stocks (SIL)25.2620.5626.29center_img TSX Venture1,345.721,239.321,703.78 One Year Ago Rock & Stock StatsLast Dear Reader,Economist Terry Coxon and BIG GOLD Editor Jeff Clark had some interesting discussions during the recent Casey Research Summit on Navigating the Politicized Economy. They noticed a near-consensus among the speakers that there’s no way out for the over-indebted US government – or the Eurozone for that matter – which has consequences for all participants in the global economy. Below, you can read why Terry (and others) are convinced there’s no way out, why he’s convinced the problem will end in inflation, and what the investment implications are for gold and silver.How do we profit from that? Even as you receive today’s Daily Dispatch, Jeff and I will be flying down to Mexico to look at a silver mine one of our companies recently acquired. Due diligence: pick right and sit tight. That’s how we do it – and you can too.If you want to learn more about the Casey Research process or pick our brains in some other way, please consider joining Doug Casey, our Chief Energy Investment Strategist Marin Katusa, and myself next month in New Orleans. We’ll all be speaking at the New Orleans 2012 Investment Conference, which will be held October 24-27. You won’t want to miss Doug’s debate against James Carville and Charles Krauthammer – it’s sure to be a memorable event. The markets are getting really interesting, so you’ll be sure to learn a lot.Sincerely,Louis JamesSenior Metals Investment StrategistCasey Research Gold Producers (GDX)54.8146.3864.28 Gold Junior Stocks (GDXJ)25.4621.4635.10last_img read more

In This Issue   Gold Commodities plunge even f

first_imgIn This Issue.*  Gold & Commodities plunge even further. *  Currencies join in with stocks and commodities. *  RBA talks about low inflation. *  U.S. data cupboard returns.And, Now, Today’s Pfennig For Your Thoughts!Will The Healing Last?Good day.  And a Tom Terrific Tuesday to you! What a horrific scene in Boston at the Boston Marathon Finish Line yesterday. On Patriot’s Day in Boston, someone or some group planted bombs near the finish line and set them off yesterday as thousands of participants attempted to finish and spectators watched. Here’s what I know at this point: The White House says the explosion will be handled as an act of terror. Three people have lost their lives and over 100 are injured with at least 8 in a critical condition. So far, no group has come forward to take responsibility for the attack.So, it’s with sadness that I begin today’s letter. I have to think that we as a country have been pretty lucky that we don’t experience this type of stuff like they do in the U.K. So, let’s keep the people in Boston in our thoughts, and move on to the markets.Well. Yesterday, I told you about how Gold was down $80 in the morning. Then as the morning went along, it seemed some healing was happening and Gold began to bounce, but that bounce had little to the ounce and soon Gold was back on the slippery slope as I left the office for the day. The Gold to stocks trade, didn’t carry through as even U.S. stocks got taken to the woodshed yesterday, It was all about buying Treasuries, as the 10-year Treasury yield fell to 1.67% (remember for bonds yield and price move in opposite directions, so as the yield falls, the price goes up)There are more thoughts out on the street about why Gold is falling like a rock from the sky, but I think I’ll stick with my theory that the “boys” on Wall Street are behind all this, and probably with the blessings, wink and nod from the Gov’t. they saw an opening to drive the price down, and they did. And will continue to do so, until they feel that Elvis has left the building. (masses have panicked and sold). That’s my story and I’m sticking to it!Long time readers know that I have quoted my friend, Bill Bonner, many times over the years, and so in this time of crazy theories about what’s going on, I turn to Bill to see what he thinks. By the way, one of the theories out there, plays well with my conspiracy tendencies.  It goes like this. The Big Boys in concert with the U.S. Gov’t are driving the price of Gold lower, so that the U.S. can buy it cheaper, and therefore have the Gold to deliver to Germany.  Hey. I’ve heard of crazier things that turned out to be fact!  OK.. any way. here’s a snippet of what Bill Bonner had to say about the Gold selling that the NY Times reported on yesterday.NY Times- “So Wall Street is growing increasingly bearish on gold, and investment that banks and others had deftly marketed to the masses only a few years ago.”Bill Bonner’s response – “Ha-ha. Do you remember Wall Street deftly marketing gold to the masses a few years ago? Show us the ads! Give us the broker’s phone logs! Prove it! The fact is, the masses never got anywhere near gold. Not even close. Most people have never seen a gold coin.. Which is why we’re nowhere near a top. Wall Street never marketed gold deftly.. or any other way. Not even in its usual greedy, heavy-handed fashion. And the masses never bought it. Just the opposite. Yes, dear reader, we hope Goldman and SocGen are right. We’d like to see gold crash down around $1,300… or lower. First, because this would mark a real correction in the bull market. It’s been going on for 12 years without a serious correction. Not a healthy situation. We’d like to get the correction out of the way… shaking out the Johnnies-come-lately and the two-bit speculators. Then, the final stage in the bull market could begin.”I usually get the ship righted after reading Bill’s thoughts. Any way.This selling has been a paper event. Yes, an ETF liquidation, and that’s what leads me to believe that when the paper selling is over, the physical demand which has remained strong all during the 20% drop in Gold’s price since reaching a high of $1,921 a couple of years ago, will take over, and a slow grinding recovery will take place. When will that happen? I don’t know. Better asked of the “boys” who are doing the paper selling.OK. So, yesterday, the Commodities and Commodity Currencies were the assets on the chopping blocks, the rest of the currencies held their own. Well, the selling of the Commodities and Commodity Currencies became too much to bear, and eventually the selling spilled over to the rest of the currencies. The thing I found to be surprising though was the selloff in U.S. stocks yesterday. That was not something I expected during this sell Gold and risk assets timetable.But that was yesterday. But it’s not the end of the world, just a slight change of plans. This morning, I’m seeing some healing once again, with Gold  up $35, the euro back to 1.31, and the Aussie dollar (A$) up 1/2-cent.  Yesterday, I said something about the A$ that I was shocked that thousands of readers didn’t throw right back in my face. I said that the A$ was down $1. YIKES! That should have been 1-cent!  Thanks for not spanking me with that faux-pas!The A$ move higher is curious, given the Reserve Bank of Australia (RBA) meeting minutes that printed last night, in which the RBA talked about how the lower inflation gives them room to cut rates, and then made a statement about how the A$ had remained “high”.  The markets like to get all lathered up over these meeting minutes that Central Banks print a month after the meeting took place. I find that laughable, but then, it’s the markets, it’s not as if these guys are rocket scientists! But that’s the norm in the markets, Shoot Rudy, they do the same thing with backwards looking data!It’s been some time since I talked about the German Chancellor, Angela Merkel. And that’s probably a good thing! But this morning in Germany, the Chancellor told a crowd something that I think she should be commended for. Let’s listen in. “We know that there will have to be victims from this austerity in many countries. But, I believe that in the long term we’ll have to have a growth strategy without always having to pile on debt. The piling up of debt is often made into a type of obligation to serve the principle of growth. All of that is false. It’s not sustainable in the long term.”I think that Ms Merkel had U.S. Treasury Sec Lew in mind with those comments, as it was just last week that Mr. Lew, told the Eurozone Finance Chiefs that they needed to shift toward generating economic expansion like the U.S. has done through monetary measures.  You know, we have no idea where all these monetary measures are going to take us, but I would pin my colors to the mast that calls for mass problems, and not the mast that says we’ll be just fine from all these stimulus measures.The Petrol Currencies that include: Norway, Brazil, Canada, Mexico and even the U.K. not only had to deal with the selling in the Commodity Currencies, but also the selling and the subsequent drop in price of Oil.  The WTI Oil price which is the one I quote in the currency roundup each day is below $90 (at $88) and the Brent Oil price has fallen below $100. Still a long way from the $40 oil I was promised 2 years ago.Another thing weighing on the markets is the renewed war rhetoric from N. Korea. News of N. Korea’s warning to S. Korea that a “strike will start without any notice” is not doing the risk asset any favors this morning.  But, a recovery in the risk assets, like I told you about above is going on, so maybe the markets are beginning to think of N. Korea’s warnings like the boy who cried wolf. probably not a good idea, but it is what it is.And for those of you keeping score at home, the Chinese have added another country to their roster of countries that they trade with and exchange each other’s currencies, leaving out U.S. dollars from the terms of trade. This time it’s France.  OK, the agreement hasn’t actually been signed yet, but like the other countries that were added to China’s roster, once the verbal announcement has been made, the actually signing is just a formality.  France is actually getting a leg up on the competition by doing this.  You see, Paris would love to be the offshore renminbi / yuan trading hub in Europe, beating out London. So, getting into bed with the Chinese now, might serve them better when the time comes.As I told you yesterday, the U.S. Data Cupboard has some items to yield to us today. Two of my faves. Industrial Production and Capacity Utilization, Housing Starts, and Building Permits will all print their results for March today. We’ll also see the stupid CPI reports and you can bet your sweet bippie that some Gov’t official will make certain to point out that inflation in the U.S. is still not a problem.  I do expect to see some more rot on the vine exposed, in the Industrial Production and Capacity Utilization reports. And once again, I’ll do my best Alfred E. Newman, and say, recovery? What recovery?Then There Was This. Caroline Baum, a columnist for Bloomberg News, has always been a fave read of mine.  Yesterday, she submitted this article on Japan, and the U.S. Treasury. It’s a good read, so here’s a snippet.“With a new president and central bank governor in place, Japan has finally decided to get serious. Earlier this year, Prime Minister Shinzo Abe announced a “monetary regime change” including a 2 percent inflation target. On April 4, following its regular meeting, the Bank of Japan made its “quantitative and qualitative monetary easing” official.The BOJ will double the monetary base by purchasing about 7.5 trillion yen of Japanese government bonds per month. It plans to extend the average maturity of its portfolio from three to seven years. And it will continue such actions until it achieves its inflation target.In other words, the BOJ is doing exactly what the Federal Reserve is doing.And for this it gets a warning from the U.S. Treasury “to refrain from competitive devaluation and targeting its exchange rate for competitive purposes”?Chuck again. yes. this a case of the kettle calling the pot black. I just don’t see how the U.S. can do the “do as we say, not as we do” thing, and then beat on Japan for doing what they said to do.To recap. The selling continued all through the day yesterday in Gold and then the other currencies joined in.  But that was yesterday, and today, we’re seeing some healing in the price of Gold and the currencies. The gold selloff has been an ETF, paper event, folks. not physical gold. I keep saying that.Currencies today 4/16/13. American Style: A$ $1.0374, kiwi .8490, C$ .9790, euro 1.3120, sterling 1.5310, Swiss $1.0790, . European Style: rand 9.1335, krone 5.7335, SEK 6.3875, forint 224.85, zloty 3.1365, koruna 19.7105, RUB 31.34, yen 97.85, sing 1.2355, HKD 7.7620, INR 54.14, China 6.2408, pesos 12.17, BRL 2.005, Dollar Index 82.15, Oil $88.22, 10-year 1.71%, Silver $23.52, and Gold $1,386.39That’s it for today. With all the news stations going 24/7 on the Bombing in Boston last night, I was taken back, in my mind, to 2001. The strange chills returned with each news update. At least I was able to watch my Cardinals and get my mind off that stuff for a couple of hours.  I made my presentation on our business yesterday, I guess it went OK, nobody threw darts at me! I have one more day of “stuff” to do and write in my office today, and then back out to the trade desk! So, did you get your taxes filed? I actually came out about even this year, which is always a good thing for me, but somehow, I paid a higher tax rate than the President. I’ll stop there, before I say something that gets me in trouble!  I hope you have a Tom Terrific Tuesday , and keep those folks in Boston in your thoughts.Chuck Butler President EverBank World Markets 1-800-926-4922 1-314-647-3837last_img read more