Nationals offer Anthony Rendon massive 7-year deal, report says

first_img Red Sox president admits it will be ‘difficult’ to keep both Mookie Betts and J.D. Martinez Houston businessman bets $3.5 million on Astros to win World Series The Nationals are doing what they can to keep Anthony Rendon in Washington.The team offered their third baseman a seven-year deal worth $210-$215 million in early September, The Washington Post reported, citing unidentified sources. MLB playoffs 2019: Start times announced for ALDS, NLDS Washington knows Rendon likely will still explore his options in free agency once the season is over, but the report stated the Nationals want Rendon to know he can have a lucrative deal with the team that drafted him in the first round of the 2011 draft.According to sources with The Post, the contract is structured similarly to Max Scherzer’s seven-year, $210 million deal with the Nationals that he got in 2015, where deferred money will be paid off seven years after the contract ends. Related News In comparison, the deal offered to Bryce Harper in his free agency was a 10-year, $300 million deal that would pay him deferred money until 2052. Rendon, 29, impressed this season with 34 home runs (a career high), 126 RBIs (which leads the National League) and a .319 batting average. “His season was outstanding,” Nationals General Manager Mike Rizzo said Monday. “… He’s a consummate professional. He’s as low-maintenance a superstar as there is in the game, one of the best players that nobody knows about, and he’s a true credit to the scouting and player development staffs here in Washington that drafted him, signed him, developed him and watched him turn into a superstar.”Rendon and the Nationals will kick off the post season Tuesday night, when they face the Brewers in the NL Wild Card round at home.last_img read more

NFC: Gibbs has his Redskins on a roll

first_img The victory was the sixth in a row for the Redskins (11-6), who won despite gaining only 120 yards on offense the lowest total for a winning team in a postseason game since the Baltimore Ravens had 134 yards in a 24-10 victory at Tennessee on Jan. 7, 2001, according to the Elias Sports Bureau. “It’s been a tough fight these last six weeks,” said linebacker Marcus Washington, who recovered a fumble and had a fourth-quarter interception. “We ain’t ready to go home yet, so we’re going to keep sawing wood.” “It’s unfortunate,” coach Jon Gruden said. “He was open, he had his hands on the ball, and he was in the end zone.” The Redskins advanced to a divisional round game next Saturday at Seattle (13-3). They also avenged a 36-35 loss to Tampa Bay (11-6) this season, a game the Bucs won on Mike Alstott’s 2-point conversion run with less than a minute remaining. “Our defense was incredible,” Redskins quarterback Mark Brunell said. “You can’t say enough about them.” 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! TAMPA, Fla. — Joe Gibbs’ teams always had a knack for peaking at the right time, and these Washington Redskins are no different. With the Hall of Fame coach back in the playoffs for the first time in 13 years, the Redskins at least on defense looked like a Super Bowl contender again in beating the Tampa Bay Buccaneers 17-10 in the NFC wild-card round Saturday. center_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MORECoach Doc Rivers a “fan” from way back of Jazz’s Jordan Clarkson LaVar Arrington’s interception set up Clinton Portis’ 6-yard touchdown run, and Sean Taylor returned a fumble 51 yards for another first-quarter score for the Redskins, who rebounded from a three-game losing streak to win five in a row to get into the playoffs. “I go to work with a great bunch of guys, and they have a lot of fight to them,” Gibbs said after his first playoff game since a divisional-round loss to San Francisco on Jan. 9, 1993. “They never gave up no matter what the circumstances.” Taylor was later ejected for spitting in the face of a Bucs player, further depleting an injury-riddled defense that held off two Tampa Bay scoring threats in the closing minutes, including a near catch in the end zone that could have tied the game with just less than three minutes to go. Chris Simms lofted a perfect spiral to Edell Shepherd on third-and-10 from the Washington 35, but the Tampa Bay receiver lost control of the ball as he was coming down in the end zone. Simms, unaware the pass was ruled incomplete, began celebrating near the sideline and the Bucs’ stadium crew set off premature fireworks. Tampa Bay asked for a video review, burning its final timeout, but the call was correctly upheld by instant replay. last_img read more

15 days agoEthan Ampadu & RB Leipzig: Why Chelsea need to rip this one up

first_imgTagsTransfersOpinionLoan MarketAbout the authorChris BeattieShare the loveHave your say Ethan Ampadu & RB Leipzig: Why Chelsea need to rip this one upby Chris Beattie15 days agoSend to a friendShare the loveCOMMENT: This wasn’t in the script. Not for Chelsea. Nor for Ethan Ampadu. And now the question is: do they rip the thing up?Ryan Giggs, the Wales coach, sounded the alarm this week. The nation’s best young prospect – with potential not seen in years. Ampadu has found himself stuck this season. In neutral. The now 19 year-old being passed over week-after-week by Julian Nagelsmann at RB Leipzig. Celebrated as a coup upon his arrival, Ampadu’s loan move is still waiting to actually begin. The midfielder is yet to see any first team action under coach Nagelsmann. He’s been involved in matchday squads – but that’s it. Nagelsmann hasn’t seen enough from Ampadu to warrant a debut.As Giggs says, it’s “concerning”. The Wales manager echoing the feedback this column received Monday from a long time Cobham source. He didn’t parrot it word-for-word, but Giggs came pretty close to detailing the general opinion inside Chelsea about what has befallen Ampadu in Leipzig.”It is a concern because Ethan is at the age now where he has to play,” Giggs said, referring to Ampadu’s age. He’s not that 16 year-old kid at Exeter City that we were all scrambling to learn of. At 19, the lad needs to be playing.Giggs continued: “He’s had a few problems there injury-wise, nothing serious but little aches and pains. The last few camps he’s looked so much better in training.”He is such a talent it’s hard to ignore. But it’s very difficult for him to play 90 minutes and back-to-back games, because he’s not had the minutes.”From his standpoint, Giggs wants a player with a game sharpened by regular first team football. Wales are stronger with a confident, in-form Ampadu sitting at the base of their midfield.For Chelsea. Indeed, for Ampadu. The “concern” is more about the long-term. Sitting on the bench – or even in the stands – for matchday does the player no good at all. Especially at 19 years of age. Ampadu could be doing that at Cobham. Indeed, he’d be getting more minutes back at Chelsea with the U23s. There’s been no such reserve team chances at RBL thus far. And to be fair, if Ampadu was to turn out for their second team, it’s unlikely Chelsea would tolerate housing their prospect any longer with the Germans.So what’s happened? Why isn’t this working? Well, the simple answer is: Nagelsmann.In his first season with RBL, the team is flying. But he doesn’t work to type. At 32, Nagelsmann has been billed – especially in England – as a coach eager to gamble on youth. Someone who’ll give the club’s youngsters a chance. But the reality is something very different – especially as RBL coach. Nagelsmann has gone largely with the players he’s inherited. Like Ampadu, former Everton winger Ademola Lookman has found himself frozen out. As has fellow summer additions Luan Candido and Marcelo Saracchi. It isn’t just the form of those in Nagelsmann’s XI which have kept them sidelined. Their new coach, sounding more like Maurizio Sarri than Frank Lampard, pulling apart their game – publicly – when pressed about their absence.On Saracchi, Nagelsmann says “he’s clearly made too many mistakes”, while for Luan he insists the player’s tactical know-how isn’t up to scratch, “In the rarest case, do you get an 18-year-old fullback from Brazil who will immediately play every game.”And as for Ampadu and Lookman, Nagelsmann warned: “While the overall system is not super stable, these players will simply have less and less playing time.” Are you watching Chelsea?Well, of course they are. Lampard’s backroom team know (as we’re sure the player and minders do also) that Ampadu would be getting a game with them. Indeed, it’s no great stretch to suggest he’d be a regular under this manager and the approach to team selection he’s brought this season. Just consider Billy Gilmour’s introduction for one.And when you consider the rapid progress we’ve seen from the likes of Mason Mount and Tammy Abraham, there must be a sense of missed opportunity inside the Ampadu camp.This loan isn’t about toughening up a young player. To have a pampered young pro see how the other half live. Ampadu went through that at Exeter. He doesn’t need to prove he can dig in and tough things out, no matter the playing opportunities.This move was about football. Accelerating his development. And lifting the self belief that comes with being a regular first teamer. Basically everything Ampadu is still waiting to experience two months into this loan – and with a warning from his coach of little chance of anything changing soon.For Chelsea. For Ampadu. This was never in the script. As things stand today, for the sake of his development and his career, they need to rip this one up. last_img read more

Former Cardinals kicker Phil Dawson retires

first_img Former Cardinals kicker Phil Dawson retires Your browser does not support the audio element. Derrick Hall satisfied with D-backs’ buying and selling 0 Comments   Share   LISTEN: Warren Moon, Hall of Fame quarterback The Seattle Seahawks, coming off a Super Bowl victory, are dealing with an unhappy Marshawn Lynch.The San Francisco 49ers, who lost a nailbiter to the Seahawks in the NFC Championship game, will be without the services of Pro Bowl tight end Vernon Davis, who is also holding out for more money. The 49ers also dealt with some offseason drama courtesy of QB Colin Kaepernick, who recently signed a contract extension.The point is, the teams the Arizona Cardinals are chasing in the NFC West have had their share of issues over the last couple months, and appear primed to have more problems in the coming weeks. The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo But none of that compares to what the Arizona Cardinals are having to deal with, according to Hall of Fame QB and Seahawks analyst Warren Moon. “I think the biggest losses will probably be the Arizona Cardinals,” Moon told Doug and Wolf on Arizona Sports 98.7 FM Tuesday. “Because you lose those two inside linebackers, they’re two very dynamic players.“You might want to lose one of them but definitely don’t want to lose both of them, and losing both of them, that’s a big hole they’re going to have to fill.”Moon is referring to Karlos Dansby, who left Arizona for Cleveland as a free agent, and Daryl Washington, who was suspended for the season due to violating the league’s policy on substance abuse.Last season, the two combined to form one of the best inside linebacker duos in the league, combining for 197 total tackles, 9.5 sacks and six interceptions. In their place, the team seems ready to turn to second-year pro Kevin Minter and veteran Larry Foote. Minter, a second-round pick out of LSU, played just one defensive snap last season, and Foote appeared in just one game due to injury. At best, what the Cardinals have is an unknown, though many believe they’re going to suffer a significant drop-off at an important position. Top Stories And that, Moon believes, is more damaging than any of the drama the Cardinals’ competition has to deal with.“Nobody else lost any players,” he said. “If anything, some of these teams gained players. Sam Bradford is coming back from an injury, Michael Sam is added to their football team. Marshawn Lynch is still going to be a part of the Seahawks football team. “But you guys actually lost two very good players that you won’t have their services this year, so that’s a bigger loss.” Grace expects Greinke trade to have emotional impactlast_img read more

Anke Schaferkordt Linear TV is still the dominant

first_imgAnke SchaferkordtLinear TV is still the dominant force in TV viewing but there is an urgent and growing need for broadcasters and service providers to partner on audience measurement to enable content providers to make money from non-linear viewing, according to Anke Schaferkordt.Speaking at ANGA COM in Cologne this morning the RTL Deutschland co-CEO said that linear TV is still working, but 47 million video-capable devices were sold in Germany last year and the growing tendency to view video on mobile devices means a growing tend to consume more short-form video.“The largest number of hours is still spent with linear TV but the younger the target group becomes the lower the linear TV share,” said Schaferkordt, adding that RTL is thinking of ‘total video’.Linear TV producers are targeting a very large target group but the broadcaster is keeping an eye on what 17 year-olds want to watch. “Within RTL Group we are present on YouTube and we are the biggest European content provider on this platform,” she said. “We started very early. We have MCNs and we are the market leader in the US and Europe.”Schaferkordt said that all this means that there is a need for “a common currency” in audience measurement across all platforms. “As long as I can’t measure the data this very targeted marketing is not feasible. We don’t have the detailed socio-demographic data. Whenever you go online it is simpler.”The automated marketing of video advertising on the web that RTL has invested in in the US would be rolled out in Europe too, she said.Schaferkordt highlighted that RTL is also active in social media and uses the data available to influence its content. She said that one-to-one communication with users and viewers is possible and the broadcaster does have user groups that give active feedback on its TV formats.Speaking at the same session, Hannes Ametstreiter, CEO, Vodafone Deutschland, said that measurement of audiences was key and new technology would enable this, allowing advertising to be more targeted and more specific. “We are only at the beginning of this transformation,” he said, adding that operators and broadcasters needed to strike new forms of agreement to exploit the possibilities more fully.“We need to open ourselves and have partners. Through technology and content there will be new ways to approach the customer.”last_img read more


first_imgShareTweet A walking tour highlighting filming locations is the main focus for now.The show, created and written by Derry-born Lisa McGee, is set against the backdrop of the Troubles in Derry, Northern Ireland in the 1990s.The six-part series two finished on Tuesday of this week.And no sooner had the credits rolled than Channel 4 announced that there would be a series 3, most likely next Spring. DERRY Girls-themed tourist attractions are being planned for Derry city after the huge success of the Channel 4 comedy.Tourism NI confirmed that it is working with Visit Derry and Derry City and Strabane District Council to create Derry Girls visitor experiences.The attractions are still in the early development stages but Tourism NI said they were “well beyond the starting line”. Judith Webb, of Tourism NI, who specialises in screen tourism, said: “It’s very much the start of a journey – it’s early days.“What we are working on at the moment is actually getting the visitors to really immerse themselves in the show and get out to those locations that were used in the best scenes.The blackboard was a huge hit with fans in series two on the differences between Catholics and Protestants“It’s very much the type of experience that would be a walking tour that is narrated by somebody who is an expert on the show – who knows the funny lines, has some of the insight from the filming and maybe has behind the scenes stories that people wouldn’t necessarily know about unless they came and joined the tour.“That would be our main focus I think initially on the start of this journey.“It’s a great way of people experiencing the city of Derry.”The second series of the comedy came to a close on Tuesday night and plans for a third series have already been confirmed.Derry City and Strabane District Council is taking into account the show’s success in its five-year tourism strategy.“This is a massive opportunity for tourism and visitor numbers and visitor spend, which is what the strategy is all about delivering,” said the council’s tourism officer Jennifer O’Donnell.“But it’s also about that economic development that happens when productions are in the city as well and that can’t be underestimated.”The programme was picked up by the streaming giant Netflix, allowing viewers around the world to watch it.“Because of the Netflix deal, we’re getting Derry into the international market and that’s a unique opportunity for us to maximise he potential,” said Visit Derry’s general manager Odhran Dunne.The cast of Derry Girls back in the city last November to start filming for series two“The pick up has been amazing for only one series going on to international streaming and because of it we’ve had a lot of showbiz and entertainment journalists engaging with us, whereas we are used to travel and tourism journalists.“The target audience for the programme is younger, which is not usually our demographic of visitors to the city, so it’s definitely given us additional hooks to attract people here which is fantastic.”Stall the ball! Tourism chiefs planning Derry Girls tourism attractions for city was last modified: April 15th, 2019 by John2John2 Tags: CHANNEL 4Derry and Strabane CouncilDerry CityLISA MCGEEStall the ball! Tourism chiefs planning Derry Girls tourism attractions for cityTOURISM NIlast_img read more


first_imgShareTweet It aims to develop positive relationships between people of different community backgrounds, and to enhance skills to help participants contribute to improving the attitudes of people within their local areas.Through a series of interactive workshops, community leaders will explore the Holocaust, how it happened, why it happened and how the lessons learned from it can be used to address key issues in today’s society – including sectarianism, racism and the refugee crisis. It is hoped that the programme will equip community leaders with the tools to challenge prejudice, bigotry and intolerance in their own communities and in doing so become champions of Local Community Planning. This programme will also provide an excellent opportunity to critically evaluate one of the most horrific events of the 20th century and to keep the memory of the Holocaust alive. Council calls on community leaders to join ‘Challenging Prejudice’ programmeDerry and Strabane Council The programme incorporates two elements: training sessions and a study visit which will take a total of 9 days.Training Days: Tuesday 6th November Tuesday 20th November Tuesday 27th November Wednesday 9th January 2019Study Trip: Thursday 10th January – Sunday 13th January 2019 (inclusive)Final Day: Date to be agreed with participating groupParticipants are required to take part in the entire Challenging Prejudice Leadership Development Programme and have a valid passport for travel in order to be considered.There are currently 20 places available. If you would like to express an interest in participating on the programme, contact Good Relations Officer Carol Stewart on 02871 253253 Ext 4297 or carol.stewart@derrystrabane.comFor further information visit Closing date for receipt of applications is 5pm on Wednesday 31st October 2018.Council calls on community leaders to join ‘Challenging Prejudice’ programme was last modified: October 16th, 2018 by John2John2 Tags: DERRY and Strabane Council are calling on community leaders throughout the city and district to sign up to their ‘Challenging Prejudice Leadership Development Programme’ – which includes a study visit to Auschwitz-Birkenau and aims to educate people about the events of the Holocaust and consider the lessons for today.The Challenging Prejudice Leadership Development Programme is now in its second year and is part of Council’s proactive approach to improving good relations.The programme will provide opportunities for community representatives, Council staff and the wider community to promote the city, towns and villages as safe and welcoming places for all people. last_img read more

Do You Feel Like You Missed Out on Golds Great Bu

first_imgDo You Feel Like You Missed Out on Gold’s Great Bull Market?If you didn’t get in early on precious metals, don’t sweat it. There’s another, “Super-Bull” market right around the corner – and it’s just getting started.Click here to learn more. It’s impossible to tell whether the quiet advances by all four precious metals on Tuesday was short covering, or new speculative longs being placed.The low price for gold [around $1,595 spot] during the Tuesday trading session came around 9:00 a.m Hong Kong time…and from there the price never looked back.  It traded pretty flat during the first four hours of the London market, but shortly after 12 o’clock noon BST, gold began to rally anew…with the high tick of the day [$1,623.10 spot] coming about 11:45 a.m. in New York.From there it got sold off for the rest of the day…and closed at $1,616.70 spot…up $19.80. Net volume was pretty light at around 97,000 contracts…as I’m sure traders were heading out the door early.Silver’s price path was very similar to gold’s…with the low price and the high tick of the day [$28.51 spot] coming the same time as gold’s as well.From that high, silver got sold off 22 cents going into the close of electronic trading, ending the Tuesday session at $28.29 spot…up 77 cents on the day.  Net volume was decent at around 30,000 contracts.The dollar index didn’t do much in Far East trading…but put on a bit of a rally starting early in London…and reaching its zenith [82.02] by 8:30 a.m. in New York.  From there it sold of to its low of the day, which was around 81.71…just before noon Eastern time.  From there it rose a hair and then traded sideways for the rest of Tuesday…closing around 81.80…down less than 10 basis points from its Monday close.The low tick for the dollar index matched the high tick in the gold and silver price almost precisely…but the currency price movements certainly don’t explain the fact that gold was in rally mode while the dollar index did very little during Far East and early London trading.The gold stocks gapped up a bit over two percent at the open…and then tacked on another percent and change in pretty short order.  With New York closing early, the HUI closed on its high tick of the day…up 3.61%.Except for Pan American Silver once again, it was all green arrows in the silver equities yesterday, with a couple of junior producers up double digits.  Nick Laird’s Silver Sentiment Index closed up 4.10%…but a lot of the silver stocks did much better than that.(Click on image to enlarge)The CME’s Daily Delivery Report showed that 12 gold and 301 silver contracts were posted for delivery on Friday.  In silver, the big short/issuer was Jefferies with 300 contracts…and the two biggest long/stoppers were JPMorgan with 195 contracts…and the Bank of Nova Scotia with 103 contracts.  As of the CME’s preliminary report early this morning, there are still 2,277 silver contracts still open for July…minus the 301 that will be delivered on Friday.There were no reported changes in either GLD or SLV…and no sales report from the U.S. Mint, either.We finally have another report from the gold and silver ETFs over at Switzerland’s Zürcher Kantonalbank.  Between June 21st and July 2nd, they reported that 80,595 troy ounces of gold and 88,093 troy ounces of silver were added.The Comex-approved depositories reported receiving 597,282 troy ounces of silver on Monday…and shipped a smallish 26,586 ounces of the stuff out the door.  The link to that action is here.John Paulson on Gold: “We view gold as a currency, not a commodity,” Paulson says. “Its importance as a currency will continue to increase as the major central banks around the world continue to print money.”  He added that as the market keeps shuddering, demand for gold will stay high, and soon enough all of his depressed gold holdings should shoot up.  He also thinks that “anyone in Greece, Italy, and France should pull all their money out of the banking system and purchase gold bars before the Continent collapses.” … John Paulson, the founder of Paulson & Co., one of the world’s largest hedge funds, in Business Week on June 28, 2012 [Courtesy of reader U.D.]Reader Scott Pluschau has posted a blog on his website about gold.  This one is headlined “Gold once again approaching a major multipoint trend line”.  The link is here.With the fourth of July holiday upon us, there wasn’t much in the way of news stories to report yesterday, so I hope you can find the time to at least skim the cut and paste portions of the ones I’ve selected.Dearest Beloved Comrades…errrr…Commissioners: The citizenry is curious as to what is holding up the STUDY on silver manipulation by the Bankster known as JP MORGAN. It seems as if the citizenry is well aware of this…. Why pray tell are you not??? This Fraud de Jour is listed here! As scandals grow by the hour…yesterday it was LIBOR.  Today’s newest is JPMorgan and energy! Surely you do not wish to be the last to take action!!!!!  Time to truly step up…or STEP DOWN!!!! – Reader ‘David in California’ in an e-mail to the CFTC about the CNBC video on silver manipulation from Monday.It’s impossible to tell whether the quiet advances by all four precious metals on Tuesday was short covering, or new speculative longs being placed.  Gold and platinum broke through, and then closed above, their respective 50-day moving averages.  Silver has a ways to go yet…and palladium is still miles away from its 50-day moving average.Yesterday at the close of Comex trading was the cut-off for this Friday’s Commitment of Traders Report…and hopefully that will tell us more.With the U.S. closed for the Independence Day holiday, the volume in the precious metals during Far East trading during their Wednesday was microscopic…and that was certainly reflected in the price action in both gold and silver during that time period.  And as I hit the ‘send’ button at 4:40 a.m. Eastern time, London has been open for about ninety minutes.  Volume is still non-existent…and prices are still comatose…and the dollar index isn’t doing much, either.Before signing off, I’d like to point out the upcoming “Casey’s Fall Summit – Navigating the Politicized Economy”. It’s being held over three days…September 7-9th at the Park Hyatt Aviara Resort in Carlsbad, California.  It’s being co-sponsored by my good friend Eric Sprott…and it will be well worth attending…and like every other Casey Research summit, it will sell out quickly.  You can find out more by clicking here.I hope all my American readers get the opportunity to celebrate the real meaning of their Independence Day holiday today.  Gold Bless America!See you on Thursday…maybe.  And if not Thursday, then Friday for sure. 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In This Issue EC Greece attempt to iron out

first_imgIn This Issue. * EC/ Greece attempt to iron out agreement. * Big risks hang over markets today. * Aussie Consumer Confidence spikes! * Canada’s Deputy Dawg has “tone”. And Now. Today’s A Pfennig For Your Thoughts. Two Tough Guys At The Negotiating Table. Good Day!… And a Wonderful Wednesday to you! Stevie Guitar Miller greets me this morning with his song Serenade. Not exactly a “mellow morning song” to start the day, but. given the risks that we know about going into today hanging over us like the Sword of Damocles, it’s probably good to get revved up right out of the starters blocks this morning! When I played softball for Mark Twain Bank, one of my teammates was a guy that worked in one of the branches named Steve Miller. So, of course we called him Stevie Guitar. The wily old veteran in right field, Jack Milner will get a kick out of that! Well, it’s all about today in Europe. the European Commission (EC) has called a meeting with Greek officials to iron out the negotiations regarding Greek Debt, and whether or not they will receive the last tranche of loans. The optimism was running high when the EC announced that they were open to extending the talks 6 months in order to come up with a working agreement between the EC and Greece.  And the euro rallied on this optimism in the markets. But soon that optimism was squashed like a bug flying into a speeding car’s windshield, as European Central Bank (ECB) Finance Minister, Schäuble, was in no mood to negotiate if that meant “compromise”. He told reporters before entering the meeting that “there are no plans to give Greece more time to negotiate, and it’s over if the nation doesn’t want the final tranche of its existing aid program.”  Yikes! Schäuble sounds like a tough guy, doesn’t he?  And now the euro’s mini-rally is fading quickly. So.. the risks are very strong today that nothing gets ironed out between the EC and Greece, and the sky comes crashing down on Greece. Because as tough as Schäuble sounds, the Greek PM Tsipras has sounded just as tough. For instance, he told his Parliament that “there is no way back for his government.” Recall that his government has called for no more austerity.   So, you have to lightning rods at the negotiating table. I want to remain optimistic that some sort of agreement can be worked out. But the logical side of my brain tells me that’s a pipe dream. And the risk for today is just too great to not take cover. Hmmm, how would one take cover? Well, let’s see. One could look to lighten up their exposure to euros, but given what I’ve seen in the past 4 years, that’s already taken place! Or, one could look to buy Gold as insurance of whacky stuff that could happen if the negotiations break down.  And that’s all the time I’m going to spend on Eurozone / Greece and debt talks today. I’m spent, already after going through all that!  OK.. on to other things. Fed and voting member Lacker, was speaking yesterday, and before I get into what he said, let me remind you that Lacker is a devout Hawk. He’s never met a rate hike he didn’t like. OK, having established that, Lacker told an audience yesterday that “the world’s largest economy is growing at a faster and more sustained pace than a year ago. U.S. data supports the case for raising interest rates in June.” The markets weren’t quite sure what to make of this talk. On one hand, it gave the dollar a boost, and on the other hand there are those that question what the Central Bank will do, given the weaker data that has been printing lately. Everything but jobs created, and I spent an inordinate amount of time going through the “adjustments” in jobs created yesterday, has printed weaker than expected and previously. This is not good folks, and I truly believe that IF the Fed decided to hike rates in June, and the data still hasn’t improved, that they’ll be committing a HUGE mistake. So. With the risks today, the dollar appears to have the conn against all the currencies. And I mean all of them. I’m looking at the currency screen and I don’t see one currency moving positively VS the dollar this morning. The euro was stronger when I began, but I told you earlier that its rally was fading, and now has officially “faded”.  The Chinese renminbi / yuan, Indian rupee, Russian ruble, or Brazilian real, you know, the usual suspects, when it comes to currencies that buck the daily trading patterns, are all falling in line to take their punishment from the dollar today.  And even the last currency you think about, but should be the first one you think about, Gold, is flat today, and that could turn negative at any time. In Australia overnight, Consumer Confidence spiked 8%, in reaction to the surprise rate cut last week, but. There appears to be all kinds of political turmoil in Australia going on since the rate cut, so this spike in Consumer Confidence could be short-lived. Australia will print their labor report for January tonight. It could give us some indications as to whether or not the Reserve Bank of Australia (RBA) is looking to move rates again soon. The Aussie dollar (A$) found no solace in the spike of Consumer Confidence, and is looking suspect again. Yesterday in Canada, Bank of Canada (BOC) Deputy Gov. Wilkins, gave a speech and although the text doesn’t indicate what the markets took from the speech, it had to be the tone, because the markets have whacked the Canadian dollar / loonie. Apparently the markets took the idea that interest rates will be cut again soon in Canada, and that the Bank is ready to cut now.  YIKES! What the heck is going on here? Tone? We’re now trading on tone?  I’m shaking my head is disgust for this whole mess folks. It’s getting crazy out there. I think I’ll take a break right now, and calm down, cool down, and be back in a few minutes. OK. thanks for hanging with me here, I’m back now. I went and yelled at the ocean. while I’m thinking of it. The ocean was quite beautiful yesterday. It calmed down quite a bit, and the colors were breathtakingly beautiful. So.. now that I’ve calmed down too, let’s proceed, eh? The alternative to Gold, metals, of Silver, Platinum and Palladium have been anything but “alternatives” to Gold, as they have moved down the road to losses alongside Gold. It used to be that when Gold got whacked that you could look to Platinum or Palladium to move higher, but not this time. This time IS different. so far that is. Which is why I bring this up. Longtime readers know that I dislike the saying, “but this time is different”  So, keeping in that tradition, if “things aren’t different” and you can normally come back to the trading pattern that has been established, then one would think that the cheaper prices of these two metals would be an opportunity to buy cheaper, eh? Well, the price of Oil is back below $50 this morning. I was reading an article on the price of Oil, and an Oil expert, was talking about how the slowdown in industry, wasn’t the thing that was driving the price of Oil higher. He basically thought that it was just time for a bounce. And then he said something that caused me to do the V-8 head slap.  That the slowdown in production now, isn’t going to hurt supplies now, but more 6 months down the road.    And then after reading that, I see that the International Energy Agency, predicted that inventories of Oil will reach all-time highs before the recent slowdown starts to affect production.  So, that all makes sense to me. And at the G-20 meeting in Istanbul, which used to be Constantinople, the finance ministers agreed to avoid currency devaluation to boost export and economic growth. Of course they all raised their right hands in voting for this agreement, while their left hands were behind their respective backs and their fingers were crossed. HA!  I find this communique from G-20 to be laughable. HAHAHAHAHA!  What, do they think we haven’t seen what’s been going on?  It’s a good thing I don’t take these G-20, G-10, G-7 or whatever G number they want to come up with, seriously. The U.S. Data Cupboard is basically empty again today, with only the monthly budget statement to print. That leaves us with only another Fed member speaker today to deal with. Feb member, Fisher, another Hawk, will speak and hold a press conference, which could become a rally point for a rate hike. That would all be dollar positive, folks..   The Data Cupboard gets back into business tomorrow, on Lincoln’s Birthday, as January Retail Sales will print.  The BHI is indicating that it will be another disappointing month for Retail Sales. But then I’m not home, so I don’t really know what came through the door there, but I do know that down here, not much has come through the door.  Although I did have to have a bathroom redone, and there was some purchases made there for sure! UGH! As I said above, Gold is flat this morning.. The shiny metal is attempting to carve out a small gain, but as I said basically it’s flat..  What’s it going to take to shake this trading pattern that has been cast over Gold the past week? Well, a big blow up with the EC/ Greece negotiations could do the trick, and maybe, just maybe that’s why Gold got whacked like it did up to now. the powers that be, saw a BIG Blow up in the Eurozone, and knew Gold would take off on that news, so they whacked it ahead of time.   Yes, folks, that’s how my mind works. Now, I’m not saying that this is what positively had to happen, for I don’t know! All I know is that 1. Gold got whacked, and 2. There is potential for it to soar. put 1 and 2 together, and then you begin to think like Chuck. Now that’s a scary thought, eh? HA! For What It’s Worth. I was reading Bill Bonner’s Diary of a Rogue Economist, And he was talking like me. being facetious, and all the other things that people say I do when I don’t agree with something that was said or done. So, basically I loved it! And thought, I just had to use this today. Bill is talking about Debt, which is always welcome in my letter! “Last week, McKinsey Global Institute reported that the world’s total debt levels were twice what we thought – $200 trillion, or about three times the planet’s total output. So, what a relief it was to discover. only a few hours later… that there was nothing whatsoever to worry about. Our concern was totally misplaced. It was nothing but a colossal misunderstanding or, as Nobel laureate economist Paul Krugman put it in the New York Times, a “bad analogy.” So now, we can go back to our Portuguese lessons here in São Paolo without a care. Government debt grew by $25 trillion over the last seven years. And 8 out of 10 households (mostly out of the US) have more debt than they did in 2007. Yes, dear reader, we live in an Age of Wonders. We wonder what will happen to $200 trillion worth of world debt when the collateral gives way.” Chuck again. You tell ’em Bill! Of course I could only give you a few lines from the letter, so if you want to read the whole thing, and you should, just click on the link above. and you’ll learn about  how, According to the McKinsey report, world debt has grown by $57 trillion since the beginning of the crisis in 2007. raising the level of debt to GDP by 17 percentage points. That – not real economic growth, folks.. To recap. The EC has called a meeting with Greece to iron out funding needs, etc. today. Optimism was crowded out by negativity from ECB Finance Minister, Schäuble.  This is a BIG risk hanging over the markets today, so with that in mind, the currencies are all on the wrong side of the fence from the dollar today, and Gold is flat. The Data Cupboard is basically flat again, so we just have dollar strength from the Eurozone mess going on all around us today. Aussie Consumer Confidence spike higher, but didn’t help the A$, and the Deputy Dawg at the Bank of Canada “sounded” like he was ready to cut rates further yesterday. Currencies today 2/11/15. American Style: A$ .7735, kiwi .7395, C$ .7925, euro 1.1315, sterling 1.5295, Swiss $1.0800,  . European Style: rand 11.8135, krone 7.5985, SEK 8.3545, forint 274.05, zloty 3.7270, koruna 24.4570, RUB 65.93, yen 119.85, sing 1.3605,  HKD 7.7540, INR 62.25, China 6.1315, pesos 15.05, BRL 2.8595, Dollar Index 94.77, Oil $49.68, 10-year 1.99%, Silver $16.95, Platinum $1,208.38, Palladium $771.75, and Gold. $1,237.08 That’s it for today. A nice bounce back win for the Blues last night, after losing two in a row. I downloaded a new song yesterday. It’s a song by the Killers. Somebody Told Me..  every now and then I hear a new song, and like it enough to download it, but not that often. Whenever I call someone old, my wife reminds me that I’m old too, and while I don’t think that way, I do feel that way whenever I try to listen to new music. I know I’m getting old then, because I just don’t care for 95% of it! 8 days and counting until the Cardinals pitchers and catchers report. They are starting a week later this year. They had better bring their wind breaker jackets, because it’s been quite windy down here, although not yesterday.. We’re supposed to get hit with a cold spell next week here. UGH! The Yes song, Soon, which is THE song to listen to when wearing headphones, is playing on the iPod right now, and it tells me that soon, I need to get this out the door! So.. I hope you have a Wonderful Wednesday! Chuck Butler Managing Director EverBank Global Marketslast_img read more

Bill Editors note Bill just sent out an urgen

first_img Bill Editor’s note: Bill just sent out an urgent warning about an imminent breakdown in the U.S. economy caused by the corruption of our financial system. You see, right now, the government you vote for is only “the tip of the iceberg”… The other 90%—the “Deep State”—controls the real money and power…and is unelected and hidden from view. To learn how you can protect yourself, your family, and your wealth as we enter this pivotal moment in American history, click here. Bill’s view of the Louvre from a bar near the Café de Paris But Paris is another city with a problem. It relies on summer tourism for much of its money. And the tourists aren’t coming like they used to. Europe on Edge Gendarmes with machine guns patrol the streets. After the attacks in Paris… and then Nice… the police have their eyes open. But what are they looking for? In Paris… armed men simultaneously invaded restaurants, nightclubs, even a sports stadium… and began firing. In Nice, a single man with a refrigerated truck mowed down 84 people. And in Munich, over the weekend, it was a lone shooter in a mall who did the killing. Then a man blew himself up in Ansbach outside a music festival. Europe is on edge. Where will the next attacker come from? What will be his target? Can this problem be solved? We don’t know. But it doesn’t seem likely that it will be solved by getting tough on crime. Whaddya gonna do? Pick up the pieces of the dead perp and throw the book at him? — Phony-Baloney Money Some problems don’t have easy solutions. Some have no solution at all. And here we beg for a few minutes of your careful attention… This isn’t easy to understand. It took us 30 years to get a handle on it. And most of the economists you read, including Nobel Prize winners, have no idea what is really going on. We’re talking about money. And the problem caused by the Fed’s phony-baloney credit-money. It has led to a worldwide debt bubble – $300 trillion worth. And like all bubbles, it’s going to blow up. When it does, we predict, there will be Hell to pay. The first thing to understand is what money is. It’s not wealth. You could have a pile of dollars… euro… or gold… and if there were nothing to buy, it would be worthless. Money is not wealth. It just measures wealth… like a clock measures time. We know that a clock is not time. And you can’t add time simply by painting an extra hour onto the face of your clock. Wealth is what has been produced… what has been made available… what you can buy with money. Confusing money with wealth is like confusing a ticket for the ballgame for the game itself. So you see right away how “stimulating” the economy by giving it more fake money is a fraud. It doesn’t stimulate the economy; instead, like a clock that has gotten out of kilter, it just causes you to miss your plane. You hear economists say that a “strong dollar” is good… or a “weak yen” is bad. It is nonsense. The only thing that matters is that money be honest. Like a clock, you just want it to tell you the right time. And since what you really care about is not money but what you can buy with it, real money cannot be separated from the real economy, where goods and services are produced. This insight is at the heart of Say’s Law: You buy products with products… not with pieces of paper. An Honest Mistake? Look what happened in Zimbabwe in the late 1990s, when the government separated its money from the real economy. It printed trillions of dollars of paper money. But this paper “wealth” just misled everyone. People went to the local café with a billion Zimbabwe dollars in their pockets – and discovered that they couldn’t even buy a pack of cigarettes. Investors put money into new businesses, hoping to make a 5% return. But when the numbers came back, hyperinflation had made them meaningless. Business slowed down… output fell… within months, the supermarket shelves were barren. Real money stays close to the real economy. If the economy produces more… more real money becomes valuable. Because it can buy more. If the economy produces less, real money tells the truth: It becomes less valuable as output falls. But in 1971, President Nixon – advised by leading “monetarist” economist Milton Friedman – made a fateful error. He cut the dollar loose from the real economy. An honest mistake? Maybe. Friedman had come to the conclusion that the secret to good currency was to control the quantity of it. How do you know if you have too much or too little? You just look at consumer prices. If consumer prices aren’t rising, you have nothing to worry about. But it’s not that simple. Stay tuned… Regards, – Editor’s note: In today’s essay, Agora founder Bill Bonner calls for your careful attention. In it, he discusses the major problem that most folks—including economists and Nobel Prize winners—have no idea is going on right now… As you’ll see, it’s a problem that’s destroying our economy… PARIS – We are having a cup of coffee at the Café de Paris near the center of town. Chic women and gloomy men walk by, as they always do. Here and there, groups of tourists turn the corner toward the Palais Garnier opera house. Recommended Links This always goes up right after gold prices soar It can lag behind for a few months… or even a few years. But when it starts to catch up, it quickly outpaces gold, and then soars. If you missed out on the gains in gold this year, then you must see Porter’s latest research. NEW REPORT: “The 1,000% Backdoor” Get your copy of a new report – from one of the world’s best startup investors – detailing which small companies you should buy for 100% to 500% potential gains.  Click here to learn more.last_img read more