avery johnson alabamaFormer NBA point guard and head coach Avery Johnson was recently hired to take over the reins of the Alabama basketball program, which has reached just one NCAA Tournament in the past nine seasons. Johnson has a tall task ahead of him, but he has lofty goals for his new squad, saying during his introductory press conference his program will try and live up to the standard set by Duke, the 2014-15 national champions. “Duke University, that’s the standard for us here at the University of Alabama and our basketball program,” Johnson said. “The way they play defense and offense. The way they move the ball, that’s the standard. Nobody else is the standard. That’s the standard. Duke University. That’s why I’m here.”If imitation is the most sincere form of flattery, it also makes for good publicity in this case. Judging by its Instagram post this morning, the Duke program is using Johnson’s quote to its marketing advantage.An obvious, but savvy move by Duke. We’re sure Johnson isn’t the only coach looking to get his program on the level of the Blue Devils but it’s easier said than done.
REGINA – Saskatchewan says it will not be joining Alberta in banning the import of British Columbia wines.Alberta Premier Rachel Notley announced the ban on Tuesday as the next step in an ongoing dispute with B.C. over the Trans Mountain pipeline expansion.In a statement on Facebook, Saskatchewan Premier Scott Moe says that while his province supports Alberta in its fight, he doesn’t think the dispute will be solved by trade measures that have an impact on consumers and private businesses.B.C. has said it is considering rules to limit any increase in the shipping of diluted bitumen until an independent panel can better analyze whether the system is safe and can adequately deal with a spill.The Trans Mountain project has already been approved by Ottawa and Notley sees B.C.’s move as a back-door way to scuttle the expansion.The $7.4-billion Kinder Morgan project would triple capacity on the 1,150-kilometre line, which runs from Edmonton to the B.C. coast.Moe suggests that rather than boycott B.C. wine, Saskatchewan will look at options either through the courts or interprovincial trade agreements.“It is our position that the government of British Columbia has no legal jurisdiction or justification to delay or impede the construction of the Trans Mountain pipeline,” he said.“While we have previously stated that Saskatchewan will support Alberta in defending against this attack on our energy industry, Saskatchewan has no plans to participate in retaliatory measures that would be in contravention of our trade commitments.“We do not believe this matter will be resolved by trade measures that will primarily impact consumers and private businesses.”(Companies in this story: TSX:KML)
A New York Times report says Facebook gave some companies more extensive access to users’ personal data than it has previously revealed, letting them read private messages or see the names of friends without consent.The newspaper on Wednesday detailed special arrangements between Facebook and companies like Microsoft, Netflix and Spotify, in the latest revelations on how the social network shares user data.It says Facebook shared data with more than 150 companies through apps on its platform even if users disabled sharing.Facebook responded to the report in a blog post, which said the partnerships did allow features like “messaging integrations” but nearly all have been shut down over the past few months. None of the deals gave outside companies access to data without user consent, it said.The Associated Press
Sean Holmstead, the owner and chief pilot of Mackenzie Mountain Aviation said that the airplane was damaged during the crash-landing, though the 37-year-old pilot was not injured. Holmstead said that the extent of the damage to the airplane is currently not known, but that a salvage attempt will be made in the near future. FORT NELSON, B.C. — A pilot that became incapacitated while flying from Fort Nelson to Watson Lake was able to make a miraculous crash-landing north of Liard Hot Springs last Friday.A spokesman with the Transportation Safety Board of Canada said that the pilot and lone occupant of a six-seater Cessna U206 Super Skywagon owned by Mackenzie Mountain Aviation Corp. was flying via visual flight rules when he became incapacitated at around 7:45 on Friday evening. The spokesman said that after the aircraft descended, the pilot was able to regain control of his plane and perform an emergency landing after striking several trees. The pilot, who was not injured in the emergency landing, was able to activate the plane’s emergency locator beacon and make a call to his company via satellite phone before spending the night inside the plane. Transport Canada spokesman Pierre Manoni said that search and rescue aircraft were dispatched by the Joint Rescue Coordination Centre in Victoria at first light on Saturday morning and were able to rescue the pilot, who was transported to the Fort Nelson Hospital to be checked out.
CALGARY, A.B. – Gibson Energy Inc. says the sale of its trucking arm means it has completed all of the non-core asset sales it targeted a year ago as part of a strategy to focus on its Alberta oil storage and handling assets.The Calgary-based company, which helps send one in four barrels of crude exported from Western Canada through its Hardisty terminal in central Alberta, says it will pocket about $100 million from the sale, bringing its divestiture proceeds to about $325 million since early 2018.It says Trimac Transportation has agreed to pay about $70 million for the trucking assets and a Trimac affiliate is to pay $30 million for property in Edmonton containing a field office and shop, with the deals expected to close later this year. Gibson previously announced the sales of its environmental services and wholesale propane businesses for about $225 million.The company reported 2018 net income of $151 million on revenue of $6.8 billion, up from $44 million on $5.7 billion in 2017, as it invested $302 million to build new storage tanks in Edmonton and Hardisty and a pipeline in the U.S.It plans to spend $200 million to $250 million on capital projects this year.
Gurugram: Deputy Commissioner Amit Khatri at a Press conference to discuss preparations for Lok Sabha elections said that pink polling station will be set up to boost the number of women voters. At 10,82,870 for the first time, Gurugram district will have more than a million citizens who will be eligible to cast their vote in the upcoming General as well as assembly elections. In the given set, there will be 5,12,506 women and 5,70,364 men voters. Also Read – Gurdwara Bangla Sahib bans single use plasticThe figure has seen a rise from 9,36,471 voters who had voted in 2014 elections. The rise in the number of voters can be gauged from the fact that in just one year 27,689 voters have been added. The sex ratio figures in terms of voting were however not satisfactory in 2014 with 899 females to 1,000 males recorded in 2014 General Elections. The Deputy Commissioner affirmed that this time steps were taken by the administration to ensure that the percentage of voters would be much higher than in the previous elections. Also Read – After eight years, businessman arrested for kidnap & murder”Our basic priority this time is to ensure that there is a high turnout of women voters. Not only are we going to make sure that they will be provided with more security, we are also exploring other ways by which they can come in huge numbers and exercise their democratic right,” said Amit Khatri. Providing more information, Khatri mentioned that a total of 1,113 booths will be set up at 532 locations. Around 15,000 people, including security personnel, will be involved in ensuring voting proceeds smoothly. “Gurugram district has always voted proactively. In the last General elections, the voting percentage was over 70. We would want this healthy trend to continue. In the coming days, we will be providing facilities by enhancing the communication channels. If the voter wants any of the doubts cleared, he can call at the toll-free number 1950,” said the deputy commissioner who took the charge of Gurugram only in February. The significance of Gurugram can be gauged from the fact that it is the largest Lok Sabha seat in Haryana.
Conakry – The Palais des Nations of Conakry was renamed after late King Mohammed V, Guinean President Pr. Alpha Condé announced on Monday. In a speech after the signing ceremony of 21 agreements between Morocco and Guinea, chaired by him and King Mohammed VI, Condé affirmed that this decision is a recognition for the huge role by the late sovereign in African liberation and unity. We agreed to name the palace after an eminent figure of Africa who is late HM Mohammed V, said Condé before the King and personalities taking part in the ceremony. King Mohammed VI arrived on Monday in Conakry for an official visit in the Republic of Guinea, third leg of an African tour that took the sovereign to Mali, Côte d’Ivoire and will take him to Gabon.
Ohio State’s libero Valeria Leon passes a ball in the regional quarterfinal versus Washington on December 11, 2015. Credit: Ohio State AthleticsThe No. 19 Ohio State women’s volleyball team couldn’t have asked for a better ending to its nonconference season. Just like dominos, three teams fell to the Buckeyes. Not to mention, all of the matches were three-set sweeps. OSU dominated the competition to clinch the Ball State Active Ankle Challenge title on Saturday in Muncie, Indiana. Valparaiso was the first of the Buckeyes’ victims on Friday, followed by the University of North Carolina at Greensboro. The Ball State Cardinals gave OSU the biggest run for its money on Saturday, but it was the Buckeye “tribe” who came out on top. Senior libero Valeria León, senior middle blocker Taylor Sandbothe and sophomore outside hitter Audra Appold earned all-tournament honors. León earned the tournament MVP title with 3.78 digs per set. Sandbothe and León have been named to all-tournament squads in three of the past four weekend tournaments.ValparaisoValparaiso hung with the Buckeyes in the first set until OSU started to pull away at 19-13, with credit to the power of middle blockers Sandbothe and freshman Madison Smeathers. An assisted block from Sandbothe and senior middle blocker Kylie Randall sealed the win in the first set, 25-17. OSU jumped out to an early lead in the second set and eventually put away the Crusaders, 25-13. Junior outside hitter Luisa Schirmer contributed five kills to the Buckeye offense. A block by Smeathers and Schirmer for the final point in the third set would wrangle in the victory for OSU, 25-18. Sandbothe led the offense for the Buckeyes with a .458 hitting percentage, followed by a strong performance from Appold who hit .364. OSU more than doubled the Crusaders in kills, 50 to 19. UNCGErrors on OSU’s side of the net and an aggressive UNCG team kept the first set of the match close, with nine times during the opening frame. A final Spartan timeout wasn’t enough to hold back Sandbothe. She closed out the set with three kills, making the score 25-20 going into the second set. The Buckeyes would shut down the UNCG offense in the next set. OSU went on a seven-point run to win 25-12. The third and final set showcased OSU’s “tribe” motto with six players slamming down kills for the 25-14 set and match win.Randall, Schirmer and Appold all had an errorless hitting performances. Appold also tied León for a team-high 10 digs, and Sandbothe walked away from the match with a monstrous .615 attacking percentage. Ball StateOSU’s final match carried some weight with it – the last nonconference match for the team and a tournament title on the line. The momentum from the Buckeyes’ previous two matches carried into the first set against the Cardinals. Despite a couple of four-point leads by Ball State, OSU battled back to eventually take the advantage, 17-16 on a service ace by Sandbothe.Another service ace by sophomore setter Taylor Hughes coming out of a Cardinal timeout was enough to push the Buckeyes to secure a first-win set, 25-21. In the second, Smeathers went to work on defense, assisting on three blocks and stuffing the Cardinals’ Sydnee Vanbeek for a solo block. OSU took the second set, 25-17. Two early three-point runs put the Buckeyes up 9-2 in the final set. Ball State would have its own five-point run later in the game to tighten the set, two OSU kills and an attacking error for the Cardinals would give the Buckeyes the set win, the match win and complete the perfect trifecta of tournament play. Hughes racked up 36 assists during the match, and five out of six OSU hitters hit above .300. Sandbothe and Appold combined for 27 kills against the Cardinals. The women’s volleyball team improved to 10-2 on the season and will challenge its first Big Ten opponent when they travel to Wisconsin on Sept. 23.
There’s no question that Ohio State football (5-3, 2-2) vaulted itself into the race for a Big Ten Leaders Division title after its 33-29 upset win against then-No. 12-ranked Wisconsin. The real question is whether OSU can avoid a letdown in its upcoming game. With a Saturday contest against Indiana awaiting his team, first-year OSU head coach Luke Fickell said Thursday that he is wary of the Hoosiers. “Not that people believe it, but (Indiana) is a scary crew,” Fickell said. “I really believe that. With the way the offense is going for Indiana, they don’t mind coming (to OSU).” Indiana is in the middle of the pack among Big Ten offenses and is ranked No. 7 in the conference. The Hoosiers are averaging 23.2 points per game — just 1.3 points fewer than OSU. “They’ll be in a different mindset,” Fickell said. Surely, Indiana is in a different mindset compared to when it visited Ohio Stadium on Saturday, Oct. 9, 2010. The Hoosiers lost, 38-10, that day but finished the season 5-7 and had a shot at bowl eligibility for parts of the year. In 2011, first-year Indiana head coach Kevin Wilson has led the Hoosiers to a 1-8 overall record and an 0-5 Big Ten record. Wilson also saw one of his top receivers, senior Damarlo Belcher, dismissed from the team this week. Co-defensive coordinator Mike Ekeler’s said he’s currently “extremely frustrated.” His unit has given up 51 points per game in the last four weeks “…We’ve gone downhill,” Ekeler said of Indiana’s 2011 performance. “I go home and I don’t sleep because I’m not used to this and I don’t want to get used to it. And I’m sick of it and I’m tired of it. It’s the most frustrating thing I’ve ever been a part of.” Though the defense has been disappointing for the Hoosiers, the offense has recently showed signs of life. They’ve averaged 31 points in their last two games and haven’t had trouble moving the ball. But Indiana co-offensive coordinator Rod Smith said that athletically, the Buckeye defense will be tough to match up against. “They’re big, fast and strong if you like that kind of athlete,” Smith said. “I tell those guys all the time so it’s going to be a challenge each and every snap.” Wilson has at least remained upbeat, saying his team is looking forward to Saturday’s game. “We look forward to going into (Ohio Stadium),” Wilson said. “We look forward to going against the Buckeyes and it will be a great challenge.” Fickell voiced concerns about the Indiana squad on Thursday, but Wilson is also realistic about the challenge presented by OSU. “(OSU is) coming off back-to-back wins, they’re sitting at 5-3,” he said. “They could have three wins in a row. They played very well at Nebraska and their freshman quarterback (Braxton Miller) has done a nice job. “They are doing it with good players and a quarterback that can make plays. The last time we won against Ohio State was in the 80’s, so we’re playing a team that’s pretty good. It’s not like all of a sudden I say we have an advantage from playing those guys.” Both teams head into the contest with injuries. Fickell said Thursday that OSU junior running back Jordan Hall was “doubtful” for the game and Ekeler remarked that the Hoosiers have had so many injuries they are having trouble filling the scout team. Weary though he may be, Fickell said there would be no let down on Saturday. “We’ve been through enough,” he said, “and we know what the situation is.” Kickoff for Saturday’s game at the ‘Shoe is set for noon.
Real Madrid’s Gareth Bale has admitted that he is open towards the prospect of playing in the Chinese Super League, amid speculation that he is set to move to another club in the summerSince arriving at Real, back in 2013, Bale has struggled to maintain his place in the starting 11 due to a set of recurring injury and fitness issues. The Welshman has found himself on the fringes under Zinedine Zidane this season and has struggled to find any consistency.Manchester United have been linked with Bale since last summer with Jose Mourinho having admitted that he is an admirer of the 28 year-old’s.A unnamed club in the Chinese Super League reportedly made a €130m bid for Bale last week and the winger, who is currently participating for Wales in the China Cup, has revealed that he finds the prospect of playing in China appealing.“It’s a great country with great people,” said Bale, according to Football365.Fati and Suarez shine against Valencia at Camp Nou Tomás Pavel Ibarra Meda – September 15, 2019 With a mesmerizing first half from Ansu Fati and a brace from Luis Suarez in the second half, Barcelona demolished Valencia at Camp Nou.Valencia…“In terms of the future I’m not too sure, I haven’t really looked that far to be honest.“Whenever I come to China we always have such an amazing reception from the Chinese fans. They’ve been very welcoming to all of us, not just me.“They look after us really well. But I’m sure that if I ever did come I’ll be looked after very well.”Bale recently became the record goalscorer for Wales after netting a hat-trick in their 6-0 win over China. Currently Ryan Giggs’ side are preparing to face Uruguay in the final of the China Cup.
Everton winger Ademola Lookman insists everyone has a different scenario and, therefore, can’t be guaranteed to emulate the successes of others in the BundesligaThe 21-year-old spent the latter part of last season on loan at RB Leipzig and impressed with five goals and four assists in 11 Bundesliga appearances.Since then, the likes of English youngsters Jadon Sancho and Reiss Nelson have starred in the German top flight at Borussia Dortmund and Hoffenheim respectively.While, Chelsea assistant coach Gianfranco Zola confirmed Bayern Munich’s strong interest in young star Callum Hudson-Odoi.“Everyone’s scenario is different, all our situations are different,” said Lookman, according to Liverpool Echo.Crouch: Liverpool could beat Man United to Jadon Sancho Andrew Smyth – September 14, 2019 Peter Crouch wouldn’t be surprised to see Jadon Sancho end up at Liverpool one day instead of his long-term pursuers Manchester United.“So I think it is about the experience because wherever you go you can say you are going to play, but you have to prove it.“It is for experience, learning new football, learning a new style, just being around it.“It was different football [in Germany], but I wouldn’t say it was daunting. It was just another experience, take it in your stride and get used to it.”Since returning to Everton for this season, Lookman has made just the one start in 11 Premier League appearances.
STERLING HIGHWAY REHABILITATION, SKILAK LAKE to STERLING ROAD CONSTRUCTION through OctoberDrivers should expect LANE CLOSURES, ONE-LANE traffic and flagging operations, Monday through Sunday, 8:00pm to 7:00am.Through June 8, a Wildlife Crossing DETOUR will be in place at Sterling Highway MP 64.5. This zone has a 25 MPH speed reduction in place.Construction crews have begun milling operations between MP 77 and 79. Traffic will drive on a gravel surface until foaming operations begin Monday, June 11.During foaming and paving work, drivers should expect PILOT CAR operations and 15 to 20 minute delays, Monday through Sunday, 8:00pm to 7:00am.Crews will continue to work north from MP 67 and 69. Watch for flagging and PILOT CAR operations, with 5 to 10 minute delays.STERLING HIGHWAY, MP 89.8 LEFT TURN LANESROAD CONSTRUCTION through OctoberConstruction crews are working on the additional left turn lanes at Forest Lane and Jim Dahler Road from the Sterling Highway at MP 89.8.KALIFORNSKY BEACH ROAD MP 16 to 22.2, RESURFACING and SIGNALIZATIONROAD CONSTRUCTION through the seasonDrivers should be aware that the temporary signals are on a timer, not detection, so usual signal patterns have changed.STERLING HIGHWAY BELUGA LAKE DAM IMPROVEMENTSROAD CONSTRUCTION through mid JulyThe area of impact for this construction is approximately a 1/2 mile, with guard rails on both sides of the highway. Facebook0TwitterEmailPrintFriendly分享The Department of Transportation has released it’s weekly road construction update for the projects currently taking place on the Kenai Peninsula.
Universal Music Refutes Claims of Last Artist in Lawsuit Over 2008 Fire, Requests Dismissal Tencent is known primarily for its gaming and social network business — it owns China’s powerful WeChat platform, which has 900 million daily users. But the company also has its own music unit, Tencent Music Entertainment Group, which raised more than $1 billion in an IPO late last year that valued the division overall at $21.3 billion. Tencent also holds a 7.5% equity stake in streaming giant Spotify, the result of a share swap in December 2017, making it one of the Swedish company’s biggest shareholders.Vivendi and Tencent are already familiar interlocutors. In 2017, UMG and Tencent Music struck a multi-year agreement making the latter a distributor of UMG music in China on its QQ Music, KuGou and Kuwo streaming platforms. Tencent Music also has exclusive rights to sub-license UMG’s content in the Middle Kingdom.In a letter to staff, Lucian Grainge, the CEO and chairman of UMG, hailed the talks with Tencent.“This is an exciting development for both Vivendi and UMG and affirms once again just how much our strategy and hard work are succeeding,” Grainge wrote. “As Vivendi discussed last week with its investors, we continue to deliver remarkable, record-setting results. Our success is driven by placing our recording artists and songwriters at the center of everything we do and providing them with the industry’s best creative and commercial resources on a global basis.“Obviously, we remain part of the Vivendi family – today’s announcement is about a minority investment by Tencent. I can assure you that Vivendi’s Supervisory and Management Boards as well as the Bolloré family continue to be steadfast supporters of our strategy, our work and our teams. And it goes without saying, that our commitment to recording artists and songwriters will continue unchanged.”Tencent had long been rumored to be one of the suitors for a stake in UMG after Vivendi announced a year ago its intention to sell up to 50% of the company. The French media giant ruled out an IPO as an option. ×Actors Reveal Their Favorite Disney PrincessesSeveral actors, like Daisy Ridley, Awkwafina, Jeff Goldblum and Gina Rodriguez, reveal their favorite Disney princesses. Rapunzel, Mulan, Ariel,Tiana, Sleeping Beauty and Jasmine all got some love from the Disney stars.More VideosVolume 0%Press shift question mark to access a list of keyboard shortcutsKeyboard Shortcutsplay/pauseincrease volumedecrease volumeseek forwardsseek backwardstoggle captionstoggle fullscreenmute/unmuteseek to %SPACE↑↓→←cfm0-9Next UpJennifer Lopez Shares How She Became a Mogul04:350.5x1x1.25×1.5x2xLive00:0002:1502:15 Related Universal Music: Four of the Five Artists Who Sued Us Did Not Lose Masters in 2008 Fire Popular on Variety Progress on a potential sale appeared to be slow, as some analysts pushed up UMG’s valuation to as much as $50 billion. UMG has also been hit by a controversy over a fire in 2008 that is estimated to have wiped out 500,000 master recordings in the company’s massive archive.An insider with knowledge of the sale process told Variety that a deal with Tencent would be strategic because China is primed to become the world’s biggest music market. At the same time, however, the potential deal is also supposed to encourage other investors to get involved in order to keep a Chinese company from gaining too much control of UMG, he said.In June, Yannick Bollore, chairman of Vivendi’s supervisory board, said that the company was “not in a hurry” and “very confident” it would find the right partner to purchase up to 50% of UMG. He cited the music industry’s “huge growth” as a pace Vivendi wants to maintain in the coming years.In its latest quarterly financial results, Vivendi reported that its revenues were up nearly 20% to $3.7 billion during the first six months of 2019.Shirley Halperin and Elsa Keslassy contributed to this report. Chinese digital giant Tencent has entered negotiations with French media conglomerate Vivendi to buy a 10% stake in Universal Music Group.Vivendi announced the talks Tuesday, saying that the negotiations were based on a valuation of UMG of €30 billion ($33.6 billion). Tencent’s potential 10% stake would therefore cost €3 billion ($3.36 billion). The deal would give Tencent a one-year option to purchase another 10% stake on the same terms.Vivendi said the two companies were also exploring other areas of “strategic commercial cooperation” that would help grow UMG, the world’s biggest music company with market share of more than 30% in 2018, through new digital initiatives and territories. In addition, Vivendi is continuing to seek other buyers interested in a stake in its extremely lucrative music unit, which boasts a glittering roster of superstars such as Katy Perry, Lady Gaga and Billie Eilish, as well as divisions dedicated to publishing, merchandise and other sectors.
This is perhaps the most befitting tribute an artiste could pay to the spirit of nationalism and swadharma synonymous with Mahatma Gandhi. After stunning the audience with her last show – held in Delhi in September 2013 – of artworks that married khadi with ajrakh traditions of printing and dyeing, Delhi-based artiste Shelly Jyoti is now presenting a new body of works in tandem with the Gandhian theory of satyagraha. The show titled Salt: The Great March II (Re-Contextualising Ajrakh Textile Traditions on khadi in Contemporary Art and Craft), will be held at The Art Gallery, India International Centre. Also Read – ‘Playing Jojo was emotionally exhausting’The show will be inaugurated by Tara Gandhi Bhattacharya (grand daughter of Mahatma Gandhi and Chairperson, Kasturba Gandhi Memorial Trust). The show includes site-specific textile (khadi fabric) installations, garments with ajrakh printing, paintings that document 21st century textile traditions of India using clothing samplers, twenty four artworks utilizing Ajrakh textile traditions and a spoken poetry video film.Talking about why she has been attracted to the Ajrakh tradition, Jyoti says, ‘Ajrakh is one of the oldest types of block printing on textiles still practiced in parts of Gujarat and Rajasthan. This is a centuries-old craft practiced by Khatris, characterized by its complex geometrical patterns, its use of natural dyes and its skilled, extensive production process. The patterns share similarities with ancient Indus Valley Civilization patterns, and the patterns of medieval cloths traded along the Indian Ocean route. The partition of India and Pakistan hugely affected the practice and trading of block-printed textiles. Many families were split up over the two countries, and displaced into new surroundings. I personally feel responsible towards the craft as I feel heritage should be preserved and documented through visual art works.’ Also Read – Leslie doing new comedy special with NetflixSalt: The Great March II is a sequel project to Salt: The Great March I which was exhibited at Indira Gandhi National Centre for Arts in Sept-Oct 2013. The Salt March series II, like its first edition, explores salt as a symbol of non-violence. The project is inspired by the Gandhian theory of satyagraha – a challenge to one’s own truth with stress on self-purification, self-examination and self-assessment. It stimulates our conscience and soul searching for the uplift of all (sarvodaya). These works further explore the practice of nonviolence, tolerance, peace and harmony through the narratives of swadeshi politics. The ‘Salt’ series draws upon the history of India’s colonial past and Mahatma Gandhi’s 1930 Dandi March, which began the Salt Satyagraha and became an important part of the Indian independence movement.
Tags: Edmonton, Swoop, WestJet Share EDMONTON — Swoop’s new route from Edmonton International Airport (YEG) to John C. Munro Hamilton International Airport (YHM) takes off today with a sold-out flight.Departure is scheduled for 10:25 a.m. MDT. In addition to the first flight, Swoop announced Edmonton as its second operational base.“Edmonton is a market keen to enjoy the ultra-low-cost fares Swoop provides,” said Steven Greenway, Swoop President and Chief Executive Officer. “This, along with Edmonton International Airport Authority’s support, has meant that we’ve chosen Edmonton as our second operational base. Swoop, as an Alberta-born organization is thrilled to be in Edmonton as a second home and looks forward to providing more flight choices as well as the economic benefits that air service provides in the form of jobs, tourism and connecting economies.”As of October, Swoop will base two of its B737-800 aircraft in Edmonton.Swoop is also launching its first flight from Winnipeg Richardson International airport to Hamilton today. Swoop’s sold out inaugural flights from Hamilton, Abbotsford and Halifax took wing on June 20.More news: Le Boat has EBBs along with its new 2020 brochureJust last week Swoop competitor Flair Airlines claimed Edmonton as its own hub of operations, relocating its executive base from Kelowna, B.C. to the Alberta capital. Monday, June 25, 2018 Travelweek Group Posted by << Previous PostNext Post >> Swoop to use Edmonton as second operational base
Patrol Office Richard Jean-Georges was reported missing while swimming at Jacó beach on June 6, 2015. (Courtesy Bristol Police Department via Facebook)Update Tuesday, 4:30 p.m.: Richard Jean-Georges was found dead off the coast of Jacó on Tuesday afternoon, according to Red Cross spokesman Freddy Roman. Costa Rican authorities are preparing to collect the body. A missing U.S. swimmer in the central Pacific Costa Rican beach town of Jacó has been identified as Patrol Officer Richard Jean-Georges, from Bristol, Rhode Island, in the United States.The Tico Times previously reported that two U.S. tourists went missing at the beach Saturday. A 26-year-old man was rescued. The other, now identified as Jean-Georges, is still missing, according to Red Cross spokesman Freddy Roman.Jean-Georges was likely pulled out to sea by a riptide at the popular Pacific beach, according to the Red Cross and a statement from the the Bristol Police Department. The three-year veteran of the department was on vacation with his family in Costa Rica when he went missing while swimming on Saturday.According to the TV news station WPRI 21, a group of BPD officers are traveling to Costa Rica on Tuesday to assist in the rescue effort.The body of another tourist who disappeared in Jacó waters, a 34-year-old man from Los Angeles, California, was found on May 15 two miles off the coast of the popular tourist destination. Facebook Comments Related posts:Costa Rica beach drowning victim identified as US tourist Family of US hiker disappeared in Costa Rica passes another dark anniversary Rescue teams search for missing tourist in Jacó waters After 80 days, investigation continues into US man missing in Costa Rica
Bouygues TelecomOrange’s discussions with French industrial conglomerate Bouygues to acquire the latter’s Bouygues Telecom unit “are ongoing and require at least several weeks before any decision is taken”, the company has said, taking observers by surprise after reports over the weekend that a deal was imminent.Posting strong full-year results, Orange said that, regarding Bouygues Telecom, it would “act solely in the interests of its shareholders, employees and customers and will be particularly attentive to the value created by such a project”.Separately, Orange reported 7.933 million TV customers at the end of December, up from 7.19 million a year earlier.In France, the company had 6.423 million TV subscribers out of a total of 10.734 million broadband customers, up from 6.051 million out of a total of 10.354 million broadband homes.In Spain, Orange grew its TV base to 306,000 on the strength of its ability to offer top-tier football, up two and a half times the figure for the end of 2014. The company had 3.753 million broadband customers at the end of December, up 6.7%.Referring to the Spanish market, Richard said that “the integration of Jazztel has exceeded our objectives and has enabled us to create the most dynamic convergent operator in the market”.In Poland, Orange gained TV customers but lost broadband customers over the year. The company had 787,000 IPTV and satellite TV customers out of a total of 2.105 million broadband customers at the end of December, up from 749,000 out of a total of 2.241 million.Overall, the company had 18.1 million fixed broadband customers at the end of the year, up 3.1%. This number included 1.882 million fibre subscribers, including 960,000 in France and 809,000 in Spain. Orange’s mobile base was 201.2 million, up 3.2%, including 110.2 million in Africa and the Middle East, up 4.1%.Total revenues amounted to €40.236 billion, down 0.1% on a comparable basis. Restated EBITDA for the year, was €12.426 billion, up 0.1% after a 2.5% decline in 2014. Net income increased by 141.5% to €2.958 billion.“Our good results for 2015 confirm the relevance of our new strategic plan, Essentiels2020, designed to differentiate us in terms of quality of customer experience. For the first time since 2009, and one year ahead of target, restated EBITDA for the year is growing,” said Richard, who highlighted the company’s focus on Africa and the Middle East as a “growth area”.“This growth is the result of a very strong commercial performance, particularly in very high-speed broadband, and our continued efforts to control costs. The number of 4G customers, which reached 18 million, has doubled in a year and we have 1.9 million fibre customers, three times more than at the end of 2014. We also have 110 million mobile customers in Africa and the Middle East, up 4.1% year on year on a comparable basis,” he said.
Media solutions provider Globecast has announced two UK-based appointments in its distribution and contribution teams.Jack Braybrook has joined the content and distribution team as account manager (AM), Distribution, while James Whittaker has joined the contribution team as business development manager (BDM) OU Sports and Events. “Jack and James have the proper skillsets to help our customers make full use of both traditional opportunities as well as the shift toward IP, virtualization and cloud services. Their experience will build upon our successful path of innovating and investing in new technologies to create customer-focused services,” said Juliet Walker, Chief Marketing Officer, Globecast.Braybrook’s primary responsibilities will lie in expanding the company’s customer base and identifying new business opportunities. He previously held the position of sales manager at Arqiva.Whittaker will work with the contribution team to drive new opportunities and continue to expand Globecast’s market position. Whittaker recently held the post of OU sales manager at Arqiva, where he worked on business development in the OU satellite marketplace and delivered content for the site, ground or venue via satellite, fibre or IP.Braybrook said: “I’m fortunate to join a company like Globecast that’s a go-to provider for playout and distribution, most especially with our cloud based playout solutions. To help our customers launch their channels and get their content on air quickly and easily is my number one goal.”Whittaker added: “Working with Globecast across their sports and live events business is a fantastic opportunity, especially with the recent launch of Digital Media Hub, which really pushes the boundaries in publishing content across multiple platforms. I’m looking forward to liaising with our clients to make their content delivery simple and straightforward.”
Whatever is going on behind the scenes will become public knowledge when “da Boyz” deem it necessary Once gold began to trade in the Far East on their Wednesday, it didn’t take long before ten bucks got tacked onto the price…and another five spot was added later in the Hong Kong afternoon going into the 8:00 a.m. BST London open. Of course it got sold down after that, with the low in Europe coming about 12:30 p.m. in London…thirty minutes after the noon silver fix. The gold price rallied anew at the 8:20 a.m. Comex open, but that got cut off at the knees thirty minutes later. From there, gold got sold down to its New York low, which came minutes after 1:00 p.m. EDT. The subsequent rally lasted almost to the close of electronic trading…an event as rare as a blue moon. The high tick of the day came around 8:50 a.m. Eastern time…and Kitco recorded that as $1,435.30 spot. Gold closed on Wednesday at $1,431.50 spot…up $17.90 on the day. Surprisingly enough, gross volume was pretty light…at least comparatively speaking…at ‘only’ 152,000 contracts. It was pretty much the same price pattern for silver in Far East trading on Wednesday…with the high tick of the day coming at 3:00 p.m. Hong Kong time, which corresponded to the 8:00 a.m. London open. Like gold, it was all down hill from there, with the low of the day coming at a slightly earlier than normal London silver fix. The subsequent rally ran into a not-for-profit seller at the London p.m. gold fix…10:00 a.m. in New York. From there, silver got sold off until around 11:30 a.m. EDT…and more or less traded sideways from that point into the Comex close for silver, which is 1:25 p.m. in New York. Then away the price went to the upside until precisely 4:00 p.m. Eastern…and then it traded flat into the 5:15 p.m. electronic close. From its low to its high, silver traded in a price range of just over 50 cents. Silver closed yesterday at $23.16 spot…up 22 cents from Tuesday. Net volume, once all the roll-overs out of the May delivery month were subtracted, was a hair under 25,000 contracts….which wasn’t a lot. Sponsor Advertisement I have a few more stories than normal today, so I hope you can find the time to read them all, or feel free to edit ruthlessly. You choose. False is the idea of utility that sacrifices a thousand real advantages for one imaginary or trifling inconvenience; that would take fire from men because it burns, and water because one may drown in it; that has no remedy for evils except destruction. The laws that forbid the carrying of arms are laws of such a nature. They disarm only those who are neither inclined nor determined to commit crimes. — Cesare Beccaria, as quoted by Thomas Jefferson’s Commonplace Book The situation is so fluid in the precious metal markets at the moment that it’s hard to get a ‘big picture’ perspective. The only ones in the know would be the Big 3 bullion banks…and their associated partners-in-crime at the Fed, the Treasury, the Exchange Stabilization Fund…and the BIS. All we can do is sift through the clues that are left hanging around…whether it be in the Comex inventories…or the GLD and SLV ETFs. I don’t consider the latest COT Report to be of any use, because it’s obvious [at least to me] that the data in the Commercial and Non-Commercial categories is bogus. But if the data in the Nonreportable category can be used as a guide, the real data in these other two categories would be one for the record books…and still may be a work in progress by JPMorgan et al. There’s no way of knowing for sure, of course…and any comments that I [and others] may have, would certainly fall into the speculative category…even if it consists of an educated guess. Whatever is going on behind the scenes will become public knowledge when “da Boyz” deem it necessary…or when the physical or paper markets force their hand. It has always been said that the precious metal equities will always forewarn of a pending move in the gold price, as the ‘smart money’…which I call insider trading…take their positions for the next move up. I’d like to think/hope/pray that yesterday was a precursor to that event…but only time will tell. All four precious metals caught a bid in the Globex session in early Far East trading on their Thursday, but silver got smacked back down to almost unchanged by the time that London opened. Volumes are about the same as Wednesday at this time of day. Most gold volume is of the high-frequency trading variety…but surprisingly enough, there is big roll-over action in silver as the large players have to be out of their May positions [unless they’re standing for delivery] by the end of the day…or possibly Friday at the latest. The dollar index isn’t doing a lot as of 4:13 a.m. Eastern time. And as I hit the ‘send’ button at 5:15 a.m. Eastern time, gold is still trading flat after its rally in the Far East…and is up about fifteen bucks from Wednesday’s close…and silver is up fourteen cents. Because of that lack of price action, volumes are only slightly above what they were an hour or so ago. The dollar index is now down about 27 basis points. We certainly do live in interesting times…and the rest of the month’s trading/price activity could get interesting. That’s more than enough for today…and I’ll see you here tomorrow. The dollar index closed on Tuesday at 83.02…and when it opened in Far East trading on Wednesday morning, immediately began to chop lower…and finished the Wednesday trading session in New York at 82.94…down 8 whole basis points. Nothing to see here. The first three bookmarks on my computer are the Kitco silver and gold charts, followed immediately by the HUI chart…and I check them in that order when I first get on the Internet. After looking at the gold and silver charts after I got up late yesterday morning, I certainly wasn’t prepared for what I saw when the HUI chart popped up, as it had gapped up over 3 percent at the open…and never looked back from there, although it was obvious that some of the day trader types took profits as they closed out their positions in the last minutes of trading. Very deep pockets were buying everything in sight yesterday…and that process accelerated once Comex trading closed at 1:30 p.m. EDT. The HUI finished the day up 6.98 percent…and one can only hope that the buyers were insiders…as they’re always tipped off as to what’s coming. (Click on image to enlarge) The CME Daily Delivery Report, updated very late yesterday evening, showed that 98 gold and 3 silver contracts were posted for delivery on Friday within the Comex-approved depositories. The link to yesterday’s Issuers and Stoppers Report is here. Another day, another decline in GLD. This time it was ‘only’ 135,398 troy ounces…and as of 10:13 p.m. EDT, there were no reported changes in SLV. The U.S. Mint had another sales report yesterday. They sold a very chunky 13,000 ounces of gold eagles…along with a smallish 1,000 one-ounce 24K gold buffaloes…and zero silver eagles. Tuesday was a big day in silver over at the Comex-approved depositories, as they reported receiving a chunky 1,521,690 troy ounces of the stuff…and only shipped 17,637 troy ounces out the door. The link to that activity is here. In gold there were more withdrawals from the Comex-approved depositories on Tuesday. They reported receiving 852 troy ounces…and shipped 238,716 troy ounces out the door. You have to ask yourself where this gold is headed…and why. The link to that activity is here. It was another ‘quiet’ day at the bullion store yesterday…with ‘quiet’ being a relative term compared to last week at this time. ‘Quiet’ will translate into another record year for the store if this keeps up…and we’re sort of hoping that it doesn’t get any busier, as we just can’t handle over-the-top volume/traffic every day. Neither can the wholesalers or the mints…and they’re still not taking orders, which is truly unprecedented in this industry. If it’s this bad from our vantage point in the retail world, one can only imagine what it looks like from the wholesale/mint perspective. At 8:30 p.m. yesterday evening, I fired off an e-mail to Bron Suchecki at The Perth Mint, where it was already 10:30 a.m. on Thursday morning…and asked him this question: “G’Day Bron…What’s happening in Oz in the precious metals world that’s fit to print in tomorrow’s column?” Less than half an hour later I go this response… Hi Ed, With the [current production] issues at the RCM and US Mints, we are now starting to get hit with good orders from distributors, so we have prioritised manufacture of 1 oz. and kilo silver coins over our Lunar Snake coins so we can maximise the total amount of ounces we can supply. This is great news as that means more physical being taken off market. That does lead me to the next point…which is buyers really need to go for the cheapest physical they can…and be a bit more flexible on who makes it…or go from coins to bars. Paying high premiums just because you want a certain brand or bar size just means your money buys less ounces, which takes less ounces off the market. Regards, Bron Suchecki And finally…here is commentary from Ross Norman over at the renowned SharpsPixley.com Internet site that was posted there yesterday…and this is courtesy of reader ‘David in California’… “There an oddity about GOLD at the moment with phenomenal physical demand in Asia, US and Europe, while the actual spot prices languishes. We have written before about the strange disconnect between paper and physical demand – with the former bearish yet the latter bullish – but rarely has there been such a clear divergence. “Over the last few days on SharpsPixley.com we have many run stories about this … Dubai running short of physical, US Mint selling out of smaller denomination bars, coins and bars flying off the shelves in India and China and queues outside leading gold sellers such as Degussa in Germany. The effect has been a massive drawdown in physical metal which has, by and large, caught the gold refineries and some stockists by surprise. It seems that the current buying in Europe is a delayed response to the Cyprus crisis, prompted by the price correction. “Quite evidently it has been the sharp sell off on the gold futures (COMEX) a week ago that precipitated the price decline and drew out the physical buyers. While there remains stock of the traded inter-market London ‘good delivery’ bars weighing in at 400 ounces each (with a purity of 99.5%+), these would set an investor back about $570,000 each. However, for investment sized bars the market is drying up rapidly. Amongst the coins, the maples and Krugerrand are moving fast with premiums having just doubled and now typically trading at about 8% over the spot price. Meanwhile the wait for new 0.9999 kilobars from the refineries (cost about $48,000 each) would entail a wait of over 1 month – there are however some modest stocks of second-hand kilobars. “While much of the buying in Europe has centered on Germany and Switzerland, there are also encouraging signs of good interest from UK retail investors who seem to be awakening to the notion of having gold in their savings. Google searches for the keyword “gold price” is rising to near record levels confirming what we are seeing in the markets. “So, what does this tell us about gold ? To us, this is firstly a clear signal that the price correction has sparked latent interest for those who have wanted to enter the market – the current price represents an excellent entry point. Secondly, the fact that investors are going for physical over paper gold extends the argument that investors are increasingly wary of financial institutions, just as they are of the debasement of currencies. “In 2008 and 2010 the physical markets dried up and deliveries were extended out to about 2 or 3 months at the retail level – if the current buying persists there is every reason to expect a recurrence… or worse.” END Here’s your “cute quota” for the day… It was the same for the silver stocks…and Nick Laird’s Intraday Silver Sentiment Index closed up 6.39%. But, like the gold equities, these gains aren’t really that impressive considering the lows that these stocks are rising from. But it’s a start. Drilling Intersects 102 Meters of 1.97 gpt Gold at Columbus Gold’s Paul Isnard Gold Project; Drilling Confirms Depth Extension of Gold Mineralization Columbus Gold Corporation (CGT: TSX-V) (“Columbus Gold”) is pleased to announce results of the initial five (5) core drill holes at its Paul Isnard gold project in French Guiana. The holes confirm depth extension of gold mineralization below shallow holes drilled on the 43-101 compliant 1.9 million ounce Montagne d’Or inferred gold deposit at Paul Isnard in the 1990’s and support the current program of resource expansion through offsetting open-ended gold mineralization indicated by the earlier holes. Robert Giustra, CEO of Columbus Gold, commented: “These drill results validate Columbus Gold’s approach to adding ounces with a lower-risk drilling program designed to infill and to extend the mineralized zones to 200 m vertical depth from surface; a depth amenable to open pit mining.” Fourteen (14) holes have been completed (assays pending) by Columbus Gold in the current program and drilling is progressing at the rate of about 3,000 meters per month with one drill-rig on a 24 hour basis. Columbus Gold plans to accelerate the current program by engaging a second drill-rig as soon as one can be obtained. Please visit our website for more information about the project.
In This Issue. * Bias to buy dollars remains. * Eurozone Confidence soars to 2-year high! * Norwegian Retail Sales fall 1.3%. * Canada’s Current Account Deficit widens. And, Now, Today’s Pfennig For Your Thoughts! A Curious Upward Revision in U.S. GDP. Good day. And a Happy Friday to one and all! It’s bound to be a Fantastico Friday, for a number of reasons. Let’s see. front and center, it’s the kick-off of a 3-day holiday weekend. And, for those of us that get paid on the 15th & 30th, this is payday! Of which, I would rather receive one than eat one! (although it is a tasty candy bar!) It’s also the end of a very long week for me, as I’ve been running hot & cold. This morning hasn’t started out good, in that regard, but. It can only get better from here! (See that’s me!, always looking forward to what’s ahead!) And today, could also be a little strange with the asset classes as the volume will go stealth around noon today, as the boys and girls in NY head to the Hamptons around noon. So be careful out there this morning.. And what the heck, why not just close the computer down (after reading the Pfennig of course!), close the books, and start your Labor Day Holiday early? Sounds like a plan. and I love it when a plan comes together! The currencies are weaker again this morning, although most of the losses in value were booked yesterday. The U.S. surprised the markets with their ability to cook the books enough so that an upward revision in GDP didn’t look so curious to them. Of course it looked very curious to me, but then what else did I expect? The Fed Heads are bound and determined to get the unwinding of their latest bubble blowing machine started before they are unable to ever do it. And they would LOVE for the economic data to show the world that they are right to start tapering. It doesn’t matter that no one questioned how 2nd QTR GDP jumped from 1.7% in the first print to 2.5% in the 2nd print! Isn’t that just a little bit too much good, given the economic reports that started in March to be questionable at best? Of course it is. But the media is living with the wool pulled over their eyes, and have no gumption to remove the wool. Isn’t it a shame? Well, I got my blood going good writing that, and listening to Edwyn Collins sing his song, “A Girl Like You”. That one will get your bopping in your chair! Ok. back to the serious stuff! I was interviewed by Kate Gibson of MarketWatch yesterday, she wanted to know what I thought the reaction of the stock market would be after the GDP report. Now mind you, this was before the stock market opened. So, I checked the stock futures and they were only up .3%… So, I told her that I would think the stock jockeys would be torn between two things (like torn between two lovers). Normally, stock jockeys would love a strong GDP report. But with this report being the last GDP report before the Fed Heads meet in September, one would think that this could be the straw that stirs their tapering drink, and any talk of tapering hasn’t been for stocks.. Well, stocks ended the day up on the day. So, now the stock jockeys don’t think the Fed Heads can taper? I doubt it. They know it’s like California dreaming, it’s becoming a reality. A dear long time reader sent me a note yesterday and said that it’s not just me that people don’t want to come to listen to anymore, CNBC’s ratings are at a 20-year low. And just to throw gas on this fire. I saw over at zerohedge.com that they call the stock market the, ” Federal Reserve sponsored equity market” HAHAHAHAHAHA! U.S. equity trading volume in August is the lowest on average in 16 years! Where are the investors going? I wish I could say that bank deposits are soaring. but the money’s not there either. And we know that Treasuries now are treated like persona non gratis. So, in the words of Jerry Maguire. Show Me The Money! The euro is trying to hold on and stop the sliding this morning, and reports like the markets got on the European Confidence should help. Economic Confidence in the Eurozone soared to a 2-year high this month, as the Consumer sentiment index rose from 92.5 in July to 95.2 in August. Earlier this week we had a positive IFO report on Business Confidence, so things are looking brighter for the Eurozone, which just recently climbed out of the recession hole they had fallen into about 2 years ago. The Eurozone economy, as a whole, but led by Germany of course, is gathering steam. And with each of these stronger reports, the fears of another rate cut, which was probably about to be made at the last European Central Bank (ECB) meeting, are erased. And that’s good for the euro, folks.. Norway received so not so good data this morning, as Retail Sales for July fell -1.3%, and the Unemployment rate remained steady at 2.8%… (it was expected to drop!) So the krone isn’t participating in the euro’s attempt to stop the sliding. I had a dear reader ask me about the krone, and whether he should bail or batten down the hatches. Well, you know me, I can’t really tell someone what to do, but I can give you my opinion, which can be wrong (my wife loves when I have to type that!) But, I don’t know how long you’ve held krone. You could have huge gains in the currency or be seeing some red. But either way. are you diversifying your investment portfolio? Or just seeking currency gains? To me, the only reason to do all this is to diversify your investment portfolio so that not all of the portfolio is denominated in dollars. In doing so, you provide a hedge against further dollar depreciation, which won’t be a one-way street, and you could see losses at times. But you could also see currency gains on your hedge, and that would be like icing on the cake! Remember, dollar weakness is equal to loss of purchasing power for the dollar holder. So, you have to read between the lines, but I think I told you what you wanted to know about holding krone. In Canada yesterday, we saw their Current Account Deficit widen, which I had thought would not be good for the loonie, and it wasn’t. Today, we’ll see the color of Canada’s 2nd QTR GDP. I think we’ll see their 2nd QTR GDP come in around 1.7%, which is where the U.S.’s should have been before going through the donut maker. Hmmm donuts. I think I’m doing my best Homer Simpson here, but my new taste for sweets, which I never really had before, but do now, has me thinking of donuts this morning. I’m just saying. The Brazilian real saw more strength yesterday. Twice this week the Brazilian Central Bank (BCB) has come to the aid of the real, first announcing a $60 Billion line to be used in intervention to defend the real, and then the 50 basis points rate hike I talked about yesterday. The double barrel shotgun approach has done wonders for the real which had fallen to a low of 2.4545 just a week ago to a recovering level of 2.36 this morning. (remember, real is a European priced currency, so as the price goes down, the value goes up!) Of course 2.36 is still a long way away from the lofty numbers the real used to have associated to it. But a positive move is still better than opening a bag of bees. Gold is down $12 this morning, and has fallen back below $1,400. The Bloomberg has two stories this morning with different takes on Gold. the first one says, “Gold cuts monthly advance on speculation Fed will slow stimulus.” And then that’s followed by one that says, “Gold trade most Bullish since March on Syria Crisis.” So. what’s it gonna be boy? And just to repeat something I talked about yesterday, the miners in S. Africa have confirmed that they will go on strike on Monday. Hello, price manipulators? Yes, It’s Chuck calling again to harass you. I just want to ask you a question. How can you explain to regulators your ever expanding short positions, with the largest Gold producing country going on strike, thus limiting the supply of Gold? Come on Lucy, you’ve got some ‘xplainin’ to do! The U.S. data cupboard will yield July readings of Personal Income & Spending this morning to end our week. I’m certain that once again, we’ll see that we spend more than we make. But think about this spending thing. I had a dealer friend (hi Shauna!) ask me if I thought everything in the world was OK now (with GDP up 2.5%) and I said, “No. it’s all manipulated, cooked, and rolled out to make everyone happy so they’ll go and spend money on flat screen TV’s” . spend, spend, spend. That’s what would make the Fed Heads & the Gov’t happy. And it will make you happy too, until you realize that you could have bought Gold instead of another flat screen TV for your house that already has 6 TV’s! For What It’s Worth. It’s all me today folks. I’ve been doing a lot of deep thinking. (for my close circle of friends, we all know that means, right Kevin?) I mentioned the Fed’s Bubble Blowing machine up top. and that’s the focus of my soap box speech today. Are you ready? Here goes. OK. Several times over the past few years I’ve listed the things that Fed Head James Bullard was quoted as saying were the benefits of QE. you know, lower rates, higher asset prices, and a lower dollar. But you know the one thing that he failed to list, and the one thing that the Fed refuses to admit they were a part of, is the bubble in Emerging Markets. Unintended Consequences, I’ll call it. You see, by keeping rates ultra-low, investors sought out higher yielding places to invest. Remember what I always say, money goes where it’s treated best. Those places were the Emerging Markets. So, with the fear of removing QE, the markets are automatically of the belief that interest rates will rise. Shoot Rudy, after Big Ben first muttered the word “taper” Treasury yields have risen over 100 Basis points in the 10-year. was that a sell the rumor buy the fact trade? I doubt it. Should the Fed really go through with tapering, I would think Treasury yields will continue to rise, and that will draw more money home to (where it’s treated best) The Fed tried very diligently to explain the difference between tapering and keeping their interest rates low, but the markets aren’t buying it. And the bond traders are taking back the responsibility of Treasury yields from the Fed. So, what does this all mean for the Emerging Markets? Well, it’s my opinion, and of course I could be wrong, that while suffering now, and in the near future, that the Emerging Markets will recover. First, without the off the charts growth, the Current Account Deficits they all have gained, will begin to narrow, and that will be a good thing going forward. Then organic growth in the countries, will take over, and within a few years, the Emerging Markets will be back to leading the world in growth. And as far as the Fed’s Bubble Blowing machine goes. You know the Fed Heads refused to admit that they had anything to do with the Tech Bubble, or the Housing Bubble, but we all know what caused those, for I’ve explained it to you so many times in the past, that you probably could give the presentation on The Fed’s Bubbles instead of me! Bill Fleckenstein wrote a great book about 7 years ago, called “Greenspan’s Bubbles. The Age of Ignorance at the Fed”. Just in case you need some additional proof of what I tell you. And that ends today’s dissertation on what the Fed is doing to the Emerging Markets, I hope you enjoyed it. I’ll be back next week with more, so until then, Have Fun! To Recap. The bias to buy dollars remains throughout the currencies and metals this morning, although most of the value was transferred to dollars yesterday. Today could be strange with the boys and girls in NY heading to the Hamptons around noon today. Eurozone Confidence printed strong thus confirming the recovery is gathering pace. Gold falls back below $1,400, and the markets are torn on where to go with Gold. They should just ask me, I’ll tell them! Currencies today 8/30/13. American Style: A$ .8935, kiwi .7770, C$ .95, euro 1.3245, sterling 1.5505, Swiss $1.0755, . European Style: rand 10.3125, krone 6.11, SEK 6.6080, forint 227.05, zloty 3.2170, koruna 19.4180, RUB 33.24, yen 98.25, sing 1.2745, HKD 7.7555, INR 65.70, China 6.1709, pesos 13.30, BRL 2.3590, Dollar Index 81.95, Oil $107.85, 10-year 2.77%, Silver $23.69, Platinum $1,513.40, Palladium $728.58, and Gold. $1,395.12. and here’s the link to take a peek at the U.S. Debt Clock. click here. That’s it for today. Happy Birthday to my old latte’ Buddy, Michelle. She dropped me like a bad habit a few years ago, but I don’t hold that against her! HAHAHAHAHAHA! (She didn’t drop me, I just stopped going, because I couldn’t drink coffee at that time) College Football began last night, and my beloved Missouri Tigers will play tomorrow night. I wish them well on their 2nd season in the SEC. I’ll be putting the Big Green Egg to the test this weekend. I can’t wait ! I love to have the smoker going early in the morning. I know sounds like Robert Duval in the Vietnam movie, when he said, ” I love the smell of napalm in the morning”. But no! I love apple wood smoking filling the backyard with great aroma. It’s the little things that make me happy folks. And with that, I’ll get this out the door. Thank you so much for reading the Pfennig, and I also thank all of you who send me notes applauding what I’ve written from time to time. Just being myself. Now, it’s payday, it’s the kickoff of a 3-day holiday weekend, and it’s Friday, let’s go out and make it a Fantastico Friday! Ready, Set, Go! Chuck Butler President EverBank World Markets 1-800-926-4922 1-314-647-3837