OSU then-redshirt sophomore J.T. Barrett (16) carries the ball against Michigan on Nov. 28. OSU won, 42-13. Credit: Lantern File PhotoThe turnover of the roster from 2015 to 2016 has been the sweeping storyline in the offseason for Ohio State’s football team. Despite new faces bound to hit the field come September for coach Urban Meyer, three returning starters are receiving preseason notoriety.Redshirt junior quarterback J.T. Barrett, junior linebacker Raekwon McMillan and redshirt junior defensive lineman Tyquan Lewis were named to offensive and defensive player of the year watch lists, respectively.Barrett was named to the preseason Maxwell Award watch list. The Maxwell Award honors the nation’s player of the year and often is a predictor for the winner of the Heisman Trophy.Former Alabama running back Derrick Henry went on to win the Maxwell and the Heisman Trophy last year. Eddie George was the last Buckeye to win the award in 1995, who also won the Heisman.This is Barrett’s second nomination for the watch list in consecutive years. He was joined by former Buckeyes Ezekiel Elliott, Cardale Jones and Braxton Miller on last year’s preseason watch list. Barrett was the backup quarterback behind current Buffalo Bill Cardale Jones to start the 2015 season. Following the victory over Penn State on Oct. 17, Barrett was named the starting quarterback. The 2014 National Freshman of the Year and Big Ten quarterback of the year threw for 992 yards, 11 touchdowns and four interceptions in 2015. He also ran for 682 yards on 115 attempts.McMillan and Lewis were named to the watch list for the Bednarik Award which is given to the nation’s defensive player of the year. OSU also had two players on the 2015 Bednarik watch list with former defensive end Joey Bosa and linebacker Joshua Perry. OSU has never had a Bednarik Award winner.As first-year starters last season, McMillan and Lewis both impressed along side the NFL talent on those units. McMillan will be expected to be the leader for the Scarlet and Gray linebackers in 2016 as the only returning starter from the year before. The Georgia native led the Buckeyes with 119 total tackles contributing four tackles for loss and 1.5 sacks.Lewis quietly made his presence felt on the same line as No. 3 overall pick Joey Bosa and fourth-round selection Adolphus Washington. Lewis led the defensive line with 54 total tackles, second behind Bosa with 14 tackles for loss and led with eight sacks in 2015.The Buckeyes begin the 2016 season on Sept. 3 at noon versus the Bowling Green Falcons.
For five Ohio State divers, The week of Feb. 1 through 8 was full of trials.OSU’s men and women divers competed in the 2010 USA Diving Winter Nationals and World Cup Team Trials starting Feb. 1 in the McCorkle Aquatic Pavilion.From preliminary to semifinal to final events, the Buckeyes were constantly performing and refocusing for multiple events.USA Diving spokeswoman Jennifer Lowery said there are 10 titles at stake from the events. For the FINA World Cup Team, they will take the top two finishers from the individual 3-meter and individual 10-meter events, Lowery said.“So the winner is the national champion, and gets a spot on the World Cup Team, and second place gets an alternate,” Lowery said. “We’ll have a synchro trial in April to pick the two from those two events.”OSU senior Weston Wieser started off the week of trials in the men’s 1-meter preliminaries on Feb. 1. Wieser placed second with a 366.5.On Feb. 2, Wieser placed second in the men’s 3-meter preliminaries, but was eliminated in the quarterfinals on Feb. 4, placing 23rd.His last event, men’s 10-meter platform, started with quarterfinals Feb. 5 immediately followed by semifinals. Wieser came in fifth with a score of 418.80, just less than 15 points behind the fourth place.In the final round, Wieser’s first and final dive of the six rounds earned dive scores of 86.40. He came in fifth against competition like Olympic medalist David Boudia, who swept first place with just more than 116 points.OSU senior Ryan Jefferson also had a good showing, placing sixth in the preliminary round of men’s 3-meter springboard. The Wisconsin native placed ninth in the semifinals and finished ninth in finals with an 815.10.Feb. 4 marked the start of the week for OSU diver Katie Bell, who placed second in both women’s 10-meter platform preliminary/quarterfinals and semifinals. Bell, who won a U.S. national championship in August on the 10-meter platform, dove in two events on Feb. 6, placing third in the women’s 10-meter platform finals with an overall score of 670.85.Bell missed the spot on the FINA World Cup Team by 6.5 points, but qualifies for the U.S. Grand Prix Team that will compete May 6 through 9 in Fort Lauderdale, Fla., against divers from 20 nations.In the women’s 10-meter synchro final later that day, Bell did not place among the top two qualifying spots. The synchro event is similar to the individual dive, but two divers perform the same dive together and are judged on their technique and synchronization.Joining Bell in the women’s 10-meter platform was junior Kristen Asman, who went into finals ranked sixth from her semifinal dive on Feb. 4. The Columbus native scored a 529.55 with an average score of 49.81 to take ninth place in finals.Rounding it out for the Buckeyes was third-year Bianca Alvarez.Alvarez competed in the women’s 3-meter springboard preliminary/quarterfinals, semifinals and finals. She placed seventh in the finals, just less than 78 points shy of second place after a failed first dive.The Miami, Fla., native paired up with 17-year-old Loren Figueroa. This was the first time the two have competed as a pair in 3-meter synchro event.“We don’t have a lot of our skills the same; a lot of our techniques might be a little bit different,” Alvarez said after her 3-meter synchro event Sunday. So basically that’s one thing we need to work on, just trying to get together more.”Alvarez said because her partner doesn’t live in Columbus, Figueroa will have to fly to Columbus to practice with Alvarez to prepare for future competitions together.Paired together at a synchronized diving camp attracting the top divers from across the country, Alvarez said those that run the camp make the evaluation of which two divers look best together.“They told us that we did [look the best together], so we stuck with that,” Alvarez said. “We just tried it out here at nationals.”Lowery said Sunday that the experience overall was great watching the OSU divers make it all the way to the finals.“I think Ohio State did really well. I think everyone made finals on their event. There was a really good representation: top five, top six,” Lowery said. “Katie Bell was third, Wes [Wieser] just got fifth. A really strong showing by the Buckeyes.”
Redshirt-freshman quarterback J.T. Barrett (16) is carted away after suffering a right ankle fracture during the 4th quarter of a game against Michigan on Nov. 29 at Ohio Stadium. OSU won, 42-28. Credit: Chelsea Spears / Multimedia editorFor the second time in less than four months, the Ohio State football team will have to turn to its backup quarterback.Redshirt-freshman quarterback and Heisman candidate J.T. Barrett suffered a broken ankle during the second half of OSU’s 42-28 win over the Michigan Wolverines Saturday afternoon, forcing redshirt-sophomore Cardale Jones into action in The Game.Barrett is scheduled to have surgery Sunday, and will miss the remainder of the season.OSU co-offensive coordinator and quarterbacks coach Tom Herman said after the game he did not envision losing two possible Heisman candidates at the same position to injury in the same year.“I wouldn’t have asked for that,” he said. “This game is very crazy at times, throws you a lot of curveballs and you have to be able to adapt and adjust and I am sure we will be able to do that.”Senior tight end Jeff Heuerman, who was on the field when Barrett’s injury occurred, said, at first, he didn’t think the injury was severe.“I heard him yell, and I looked over…at first I thought he just got his bell rung (but) as soon as everyone got off of him, I just went over there and as soon as I saw his ankle…he (Barrett) didn’t realize it at first,” Heuerman said. “That is when I told him ‘you need to stay down for a second.’”With Barrett out for the season, Jones is set to make his first career start as a Buckeye next week in the Big Ten Championship Game.The Glenville High School product entered Saturday having attempted just 14 passes, eight of which were completed for 111 yards and two scores through the air.Jones finished the win over Michigan two for three on pass attempts for seven yards and added another 18 yards rushing on two carries.Herman said he was pleased with how Jones responded in such an intense atmosphere.“Great mentally. He missed the one pass to (redshirt-sophomore wide receiver Michael) Thomas, but mentally he was very in tune,” Herman said. “He keeps a headset on the entire game so he is in tuned to everything we are talking about. He is very engaged in everything that goes on in terms of in-between series adjustments, halftime adjustments, so he was ready to go.”OSU coach Urban Meyer said following the win that the Buckeyes will start preparing for the Big Ten Championship Game on Sunday, adding that the game plan won’t be adjusted that much with Jones at the helm.“We gotta go and we have a lot of confidence in the guy that’s going to be doing it, his name is Cardale Jones. He’s been here I think for 120 years,” Meyer said jokingly. “The good thing is they (Barrett and Jones) have a similar skill set and so it’s not like we’re going to have to drastically change things.”Sophomore safety Vonn Bell, who started the game with an interception on the second play from scrimmage, said the Buckeyes will continue to move forward with Barrett out.“We lost one of our soldiers today,” Bell said after the game. “Somebody has to pick up the rifle and keep on going.”Herman said after the game that although Barrett is out for the season, he does not want to discount the win over Michigan.“We are really, really happy for this team. You are happy for what we have accomplished in the regular season, you are happy to beat our rival at home and get a third pair of gold pants,” Herman said. “At the same time, your heart goes out to J.T. because he has not only meant so much to this team, but this team has meant so much to him and his growth as a young man. We will keep him involved as much as we can, and move forward.”Herman said that he believes the Buckeyes can still be successful with Jones, OSU’s third-string quarterback coming into the season.“The quarterback doesn’t have to win games for us anymore. The quarterback has to manage games, distribute the football and lead,” Herman said. “We have seen that throughout this season and so as long as he is mentally prepared…I have nothing but the utmost confidence that he (Jones) can get the job done because of what we have got around him.”One of those players will be sophomore running back Ezekiel Elliott, who rushed for 121 yards and two scores against Michigan Saturday on just 17 carries.Redshirt-sophomore quarterback Cardale Jones (12) carries the ball during a game against Michigan on Nov. 29 at Ohio Stadium. Jones replaced an injured redshirt-freshman quarterback J.T. Barrett in the fourth quarter of OSU’s 42-28 win. Credit: Mark Batke / Photo editorElliott said after the win that he believes Jones’ experience in the off-season will help him moving forward.“He got a lot of reps in the spring, he got plenty of reps this fall, I think he is ready,” Elliott said. “I don’t think there will be a drop-off.”As another one of the offensive weapons, Heuerman said he believes Herman will be able to coach Jones to success.“Coach Herman has obviously already been through this. Offensively man, we have a lot of talented guys that have played a lot of football this year. They are going to have to step up and make up for lost ground,” Heuerman said. “Cardale is an outstanding athlete, has a super strong arm. He can make the big plays we need to get this team rolling. We are going to have to rely on him, offensively and as a team.”The Buckeyes are set to travel to Indianapolis to take on Wisconsin in the Big Ten Championship Game Dec. 6. Kickoff is set for 8 p.m.
There’s been some movement in the rankings in the second annual Digital IQ Index study on the magazine industry from market research firm L2, which measures digital strategy execution among 80 magazine brands. TIME, which last year ranked as the number-one brand executing across digital, social and mobile platforms, was knocked off the top spot by Wired, which this year was the only brand to achieve “Genius” status. The study has traditionally measured brand competence across website, digital marketing, social media and mobile platforms. But this year, the methodology was expanded to include tablets. Each brand is given a point value based on how well content, marketing, engagement and advertising tactics are deployed within and across the five segments. Wired, for example, is lauded for its early-mover mentality on tablets and the way content is deployed and shared among different platforms. “Wired maintains a best-in-class digital edition for iPad, featuring embedded social sharing of feature articles, highly varied examples of interactive exhibits, and extensive links between app content and Web content,” says the report. “In the past year, this experience has been ported to Nook, Kindle, and Android tablets. Wired has also acquired 1.4 million followers on Google+ and 100,000 followers on Instagram.”TIME bumped down to the sixth-ranked brand, but Time Inc., Condé Nast, and Hearst dominated the top ten:1. Wired2. The New Yorker3. Entertainment Weekly and Glamour (tie) 5. Better Homes and Gardens6. Time7. Elle8. Seventeen9. Sports Illustrated10. Cosmopolitan, Forbes, People, The Economist (tie)Merely having a presence on the various digital platforms is a positive step, but the study also takes into account how well the brands, advertisers and audience are leveraged and engaged across the platforms. One finding, for example, notes that publishers and advertisers have yet to fully take advantage of mobile. According to the study, 80 percent of digital editions feature ads that link to external sites, only 17 percent of ads differ from their print counterparts. Pinterest has commanded the highest launch rate for brands since last year’s report. In 2011, there were 3 brands that counted the social platform as one of the top eight referral sources. This year, that metric has jumped to 30 brands. Meanwhile, Facebook is being underleveraged for engagement, the report concludes. While the Facebook audience for brands tends to be the largest among the platforms, engagement tactics such as fan postings, polling, contests and interactive apps are lagging. Tellingly, with all the talk and activity around integrated marketing, few brands appear to be truly executing on it, says the report. While factors not necessarily in the control of publishers may be at play here, the report does note that only 15 percent of brands are extending advertising programs across two or more digital platforms. Less than half of them promote an advertiser on any digital property beyond the website or tablet edition. “In sum, magazines are failing to deliver on a primary ask of their advertisers—integrated digital campaigns,” concludes L2 founder Scott Galloway. While Wired was the only brand out of the 80 to receive a Genius-level ranking, other rankings in the study are Gifted, Average, Challenged and Feeble, which included 28, 36, 11 and 4 brands respectively. For more on the study, click here.
Darjeeling: It was Asha’s first ever tryst with Darjeeling that she had heard about from her father and grandfather, not quite the one that she was born and brought up in. Asha, a Class 9 student of a Hill school, was used to a Darjeeling where rallies, slogan shouting and bandhs were a daily affair. The days of unrest usually paved way for agitations marred with violence. But today, the scenario is very different. On Saturday, thousands of students along with people from all walks of life, took to the street with flags and cheered, sang and danced to celebrate the spirit of Darjeeling and the teams they support for the upcoming football World Cup. The frenzy gripped the Queen of Hills that was labeled as Darjeeling — the World Cup Town 2018 by the citizens. Also Read – Heavy rain hits traffic, flightsThough the world will ring in the football World Cup on June 14, Darjeeling kick started the frenzy on June 2 with a mega event organised by Darjeeling North Point School Alumni Association (DNPSAA,) along with various other organisations, NGOs and citizens of the region.”We are celebrating the spirit of Darjeeling along with our love for the game. We want people to know that Darjeeling is peaceful and the nicest place in the world. We want people from all over the world to visit Darjeeling,” stated Ajoy Edwards, Vice-President, DNPSAA. Also Read – Speeding Jaguar crashes into Merc, 2 B’deshi bystanders killedVeteran footballers, students from different Hill schools, locals and even tourists joined in the parade that went around Chowrasta and down Nehru Road to return to where it began. The marchers shouted slogans and danced to football-themed songs. The parade was led by footballer Nirmal Chettri of FC Goa.The town was decorated with separate team flags, roadside walls painted up and billboards put up giving the town which is witnessing a huge tourist onrush, a festive look. The day saw cheer-leading competitions, garage sales by Shanker Foundation; dance fiesta by Edith Wilkins Street Children’s Trust; bike and scooty rallies from Kurseong hosted by MARG; mountain bike rally; BMX stunts; cosplay, b-boying; face painting; nail art; hair do; musical performances and beat boxing. The bike rally from Darjeeling to Kurseong and back was a major attraction. Even women riding scootys, mountain bicycles were part of it. Aces — the Super Bike club from Siliguri also joined them. “I had heard from my father and grandfather that Darjeeling used to be the safest, most peaceful and cosmopolitan place in the country. It was a great place to live in. In the past, I had never seen anything to connect the town with such claims. However, today (Saturday) was different. Hope we get back all the goodness of good old Darjeeling soon,” said Asha. The award for the cheer leading competition was won by Gyanodaya Niketan School, Darjeeling. An award for best decorated area of the town (World Cup theme) was also announced. 10-year-old Pratham Thapa, an MTB rider, was also felicitated. “The event is not just about fun. It has an underlying cause. With the participation registration amount we will buy an ambulance for our project the Clinic on Wheels. This is an ambulance fitted with a mobile lab and ECG machine. The mobile clinic will visit far flung areas every week and provide medical test facilities to the marginalized at highly subsidized costs,” stated Deven Gurung, president, DNPSAA. The organisers also want to revive the golden era of football in the Hills including the famous Brigade of Gurkhas Gold Cup football tournaments.”Even back home celebrations have not yet commenced. Darjeeling has beaten us. I’m happy to see that England too has quite a fan following in Darjeeling,” stated Neil, a tourist from England.
June 29, 2001Arcosant Organics manager Adam Nordfors recently used the barn on the ranch to dry the many braids of garlic intended for sale at our own farmers’ market. [photo by Jennifer Thornton]
Over one in five US pay TV subscribers now take an online video service through their pay TV provider, up from 10% a year ago, according to research from Parks Associates.According to the research group’s report 360 View: Access and Entertainment in US Broadband Households, some 21% of US pay TV customers now take an online TV service from their provider.Overall, some 18% of US pay TV households take a subscription package from an online video service such as Sling or a traditional provider now offering an online video bundle.Brett SappingtonParks Associates calculated that pay TV subscription rates in the US dropped from 86% in 2015 to 77% late last year, with 84% of those pay TV subscribers taking a service from a traditional cable, satellite or telecom provider.“The number of ‘cord never’ households – which have never had pay-TV service – is increasing slowly, but those who have sampled pay TV are testing new alternatives,” said Brett Sappington, senior director, Parks Associates.“The percentage of those open to cancelling pay TV or minimizing their monthly spend on pay TV is also up. This ongoing shift is affecting all aspects of service design, promotion, packaging, and pricing. As a result, operators are having to reassess their technology and content investments as well as their partnerships and go-to-market strategy.”
ShareTweet POLICE VOW TO CRACKDOWN ON DRINK, DRUG AND ANTI-SOCIAL BEHAVIOUR was last modified: September 22nd, 2016 by John2John2 Tags: THE PSNI say they plan to crackdown on young people annoying residents in Derry through various forms of anti-social behaviour.Police have issued pictures of what young people have been put to in the Sandale area.A police spokesperson said: “Ballyarnett Neighbourhood Team have received reports of young people meeting up and engaging in underage drinking, drug use and anti-social behaviour in the Sandale area. BALLYARNETT NEIGHBOURHOOD TEAMDRUG AND ANTI-SOCIAL BEHAVIOURPOLICE VOW TO CRACKDOWN ON DRINKPSNIsandale area “This behaviour is distressing local residents.“And the young people are not taking into consideration how vulnerable they are making themselves whilst under the influence of these substances.“Police will be monitoring the area over the weekend.“So please do not let it be your child we have to return home.”
Rock & Stock StatsLastOne Month AgoOne Year Ago TSX (Toronto Stock Exchange)12,231.0611,759.9413,401.48 Gold Junior Stocks (GDXJ)26.3726.3036.45 Silver Stocks (SIL)22.1021.5023.90 Dear Readers,Mining companies are starting to release Q411 production figures, soon to be followed by earnings. It will be an interesting time. Gold is still well off its recent peak, so expectations may be realistic for a change, and that would be a good thing. On the other hand, costs – particularly royalties and taxes – are rising all over the world, and mining is always a messy, difficult business, so we’re expecting a mix of the good, the bad, and the downright ugly in the weeks ahead. This can create buying opportunities, so we’ll be keeping a sharp eye out for good bargains put on sale for the wrong reasons. Gold1,635.501,672.501,381.50 Silver29.6431.3429.22 Oil99.03100.1491.39 Gold Producers (GDX)54.0554.0456.05 TSX Venture1,536.031,458.432,289.00 Copper3.633.434.37 Meanwhile, Andrey Dashkov has followed Jeff Clark’s lead on looking at gold corrections and done similar work for silver, which already seems to us to be offering the market good opportunities.Remember, there’s more volatility ahead, so keep some powder dry – that’s the way you make volatility your friend.Sincerely,Louis JamesSenior Metals Investment StrategistCasey ResearchWhen Will Silver Make a New High?By Andrey Dashkov, Research AnalystIn last week’s Metals, Mining, and Money, Jeff Clark estimated that given the magnitude of the correction that started last September, it may take until May 2012 for gold to reach a new high. This week let’s take a look at how long it may take for silver to rebound.It’s a commonly known fact that silver is more volatile than gold. Already in this decade, silver has risen by a factor of 12 from its ten-year low ($48.70 vs. $4.07), while gold has seen about a sevenfold climb ($255.95 vs. $1,895).This volatility – as you’ll see in a minute – holds for corrections as well. On average, silver’s retreats have been deeper and longer than gold’s. The three big gold corrections we looked at last week averaged 22.8%. Take a look at the three biggest for silver, along with how long it’s taken to recover and establish new highs.(Click on image to enlarge)The three biggest silver corrections in the current bull market average to 42.1%.Our recent correction is the second biggest on record since 2001, but what really makes it stand out is the duration. The 2004 and 2006 declines took only five and four weeks respectively to reach their low points. And it was 31 weeks after the crash of 2008 that silver bottomed. Our current decline, measured from the peak reached on April 28, 2011 to its December 29, 2011 low, spans 35 weeks… quite the determined downtrend.It also takes silver longer to recover than gold: gold’s three biggest corrections required an average of 57 weeks and 6 days to regain their old highs, while it’s taken silver’s three biggest falls an average of 98 weeks and 4 days to catch up.So how long will it take to recover from the 2011 slump? We don’t know the future, of course, but the current correction is close to the average of the three in the chart, so let’s apply the average recovery time to our current situation. The average 42.1% correction took 98 weeks and 4 days to recover; using the same ratio, a 46.3% correction would take 108 weeks and 3 days. Counting from the previous peak of April 28, 2011, we wouldn’t break the $48.70 high until May 26, 2013 (based on London PM Fix prices).[Ed. Note: Last week, we inadvertently reported the recovery period from gold’s low instead of its previous high, which is how all recovery periods in both that and this chart were measured. Thanks to reader John D for catching this. The good news is that gold could hit new highs sooner than the August date we originally projected.]It shouldn’t come as a surprise that silver will take longer to return to its old high than what we found with gold in last week’s article. Why? Half of silver’s use is industrial, so a weak economy can drag down its demand. We certainly saw that in 2008.And an exact date is pure conjecture, of course, and ignores fundamental factors that directly influence the price. 2011 is not 2008. In fact, we’ve already seen an interesting shift in investment activity in both gold and silver markets. The Silver Institute pointed out in a recent market report that “investor activity” was the biggest contributing factor to both last April’s rally as well as September’s selloff. Meanwhile, demand for physical metal has not only held firm but was projected by GFMS to reach a new record high in 2011.Investment demand is rooted in the metal’s monetary characteristics. It’s not a stretch to say that we expect silver to regain its currency appeal soon, given the amount of worldwide fiat currency destruction. This will be perhaps the strongest catalyst for prices going forward. We wouldn’t want to be without any silver.Take-AwaysIf there’s anything that sticks out from this bird’s-eye view of the past ten years of data, it’s that corrections are normal. And just as obvious is the fact that corrections end.As with gold, the silver bull market is far from over, regardless of any weakness we may see in the near term. Don’t be the impatient investor who gives up too early. And trying to time the market for a short-term profit shouldn’t be the strategy in the midst of a long-term bull market. Instead, keep silver’s fundamentals in mind: its industrial uses are growing and, like gold, silver is money.That said, we believe that the window for buying silver at $30 won’t be open for too long. The profit you someday realize from silver will be made buying now, when the price is low.[Holding your assets in dollars, euros, or other paper currencies is like giving the government permission to rob you. There’s a better way to store your wealth.]Gold and Silver HEADLINESDon’t Believe In Gold? That’s Okay, Just Leave It To The Chinese (Forbes)The latest data on Chinese gold imports look very bullish for the yellow metal. A record 102.2 tonnes (3.3 million troy ounces) were imported into China in November 2011, up 20% from October and an incredible 483% over November 2010. Preparation for the Lunar New Year is the likely factor for much of this activity, but given the opaque nature of the Chinese gold market, it’s difficult to trace the buyers.Meanwhile, a representative of People’s Bank of China stated that the current weakness in price should be used to further diversify the country’s foreign exchange reserves into gold. We believe that a significant portion of the world’s gold bullion is currently undergoing a shift in ownership, from West to East.Hecla Must Shut Down Lucky Friday for Entire Year; Stock Down 20% (Mining)After an accident at its Lucky Friday mine in Idaho, Hecla Mining was forced to shut down the mine for the entire year. The accident occurred on December 14 and involved seven miners who received minor injuries. Two miners also died last year. The tragedies led to an investigation, which in turn resulted in a decision that the built-up material in the shaft should be removed, a costly and lengthy job. Lucky Friday represents about 30% of the company’s silver output. Unsurprisingly, the share price plummeted 21% on the day of the news, with some dubbing it the “Unlucky” Friday mine.We don’t follow Hecla in any of our paid newsletters, but we’ll admit the potential contrarian opportunity raised our eyebrows. That said, it’ll be 2013 before the mine is back in operation, so there’s time to see if the stock gets cheaper and offers better entry points.From Gold Bras to Gold Bars (Wall Street Journal)Jean-Paul Gaultier – a famous French fashion designer – has created a one-ounce 24-karat gold bar that’s engraved with rays, a heart, and Gaultier’s name. Would we buy it? It sells for 10% over spot – less than we thought it would, but we’ll let those with a taste for luxury and tolerance for high premiums take it. That said, it could expose gold to a customer base that hadn’t considered it before.What forms of gold do we buy? We interviewed some of the top bullion dealers in the industry in the current issue of BIG GOLD and got their recommendations on what forms of gold will someday be easiest to sell, what forms to avoid, and even which product currently has no reporting requirements when it’s sold. Get these experts’ insights along with a special discount on a Buffalo coin you can’t get anywhere else with a risk-free trial subscription to BIG GOLD.
In This Issue… * Greeks decide to keep euro… * U.S. posts Monthly Budget Surplus! * JP Morgan throws a spanner… * Eric Sprott talks about manipulation… And, Now, Today’s Pfennig For Your Thoughts! Mini-Rally Is Reversed… Good day… And a Happy Friday to one and all! What a quick week! We have a Happy Hour planned tonight, so I can tell right from the starters blocks this morning that it’s going to be a Fantastico Friday! Next week I’ll be in Las Vegas… not my kind of city, but it is what it is, and I’ll be there to speak on two different days, so if you’re in the area, drop by, the MoneyShow is free! Well… that little mini-rally that a handful of currencies saw yesterday, faded overnight, and that handful of currencies are all back to the levels of Wednesday… UGH! The handful, in case you were wondering, included: Aussie dollar (A$), euro, Brazilian real, Norwegian krone, Swedish krona, Singapore dollar (S$), and a couple of others… Yesterday, we saw the U.S. Trade Deficit widen from $45.4 Billion in March to $51.88 Billion in April… It’s not all with China folks… the majority is with OPEC… remember, the price of Oil in April was well over $100 all month! We also saw the Initial Weekly Jobless Claims, which was flat VS the previous week at 367,000… The Continuing Claims remain a problem, folks… I know I talked yesterday about jobs, etc. and I received a few emails from very disgruntled folks, that have been looking for jobs, and don’t believe there are any out there to be found… That brings me to the thing that I’ve said since 2008… that a lot of the jobs that were lost were not going to come back… and the jobs that did open up, were going to be completely different, than what the unemployed person was trained to do… I’m not insensitive to this, folks… I just tried to get it out there a few years ago, so that people could begin to make changes… OK… so, did you see that the Monthly Budget Statement, which had been a deficit each and every month for so long that I had begun to call it the Monthly Budget Deficit, actually stopped the bleeding in April? The Gov’t posted a $59.1 Billion surplus in April… WOW! OK… hold on a minute there, Tim… Isn’t April the month that all taxes owed are collected? (for the most part any way) the key here is to see where this balance goes the next couple of months… My bet is that it will go right back to the monster deficits that were seen every month prior to April… Today, we’ll see wholesale inflation (PPI) for April, and the U of Michigan Confidence index… Overnight, we heard that the Greeks were having second thoughts about electing an anti-euro government, and now it appears that the government that will be elected will keep the euro, no questions asked… That’s nice of them! Obviously, calmer, smarter heads prevailed here, because I don’t believe that the Greeks want to see what life is like for them outside of the euro! Euro traders are kind of lost between two lovers here. They just can’t figure out whether they want Greece to leave a stay… Should I stay or should I go now, If I go there will be trouble, and if I stay it will be double… The Aussie dollar (A$) had climbed back above $1.01 yesterday, but is right back to Wednesday’s level of $1.0050 this morning… losing ½-cent overnight… The other day, I talked about the forecast Aussie Budget Surplus for next year… Well, while that would be great for them should they achieve that surplus, it won’t really be known if that’s going to be a reality until September… I also told you a couple of weeks ago, that I thought it was bond buyers of Aussie Gov’t Bonds (ACGB’s) were behind the resiliency of the A$ in the face of a rate cut… Of course back then, I thought that the Reserve Bank of Australia (RBA) was only going to cut 25 basis points, and the surprised the markets with a 50 basis point rate cut… That severely inhibited the resiliency of the A$… And I talked about how it is believed that if Australia does achieve a Budget Surplus that the supply of ACGB’s would drop by a large margin… So, if that’s true, that underpinning that the A$ enjoyed from bond buyers, would be damaged… But, as I told a small group the other day… “Even if the A$ falls to 95-cents, it’s still a strong currency, just 10 years ago it was trading around 50-cents…” As far as today’s prospects for a Risk On Day go… I think the chance are slim and none, and Slim left town… All the overnight bourses are down, and U.S. stock futures are down… Everyone is running for the hills after a story in the Wall Street Journal hit the streets last night… According to the WSJ report, “J.P. Morgan Chase has taken $2 billion in trading losses in the past six weeks and could face an additional $1 billion in second-quarter losses due to market volatility” – WSJ Most of you all know how I would have reacted to this report in “the old days”… So, this is your chance to “be like Chuck”… and give me your version of what Chuck would have said in the old days… (you don’t really have to send it to me, unless you think you have really nailed it!) I think I’ll talk about Silver now (wink, wink)… Did you see that China had introduced Silver Futures Contracts that will trade in renminbi / yuan, on the Shanghai Futures Exchange? The contracts will not be allowed to fluctuate more than 7% per day… I have to wonder how the Chinese are going to take seeing the price of Silver brought down in after hours trading… And did you know that China is now the world’s leading producer of Silver? No, it’s not Mexico, and no it’s not Peru… It’s China… And that’s good, because China is the world’s second leading consumer of Silver behind the U.S. Have you been following the news on Scotland contemplating leaving the U.K.? That would be a HUGE blow to the U.K., not only prestige wise, but monetarily… Scotland’s economy is second in contribution to the U.K. economy, coming behind the Southeast part of England… The pound sterling, which has defied gravity recently, is beginning to feel the weight of doing a double dip in the recession pool, and everything else that’s going on badly there… like this morning they reported that March Construction output was very disappointing, which points to a downward revision to 1st QTR GDP, that already showed that the U.K. economy was going for a double dip… Gold enjoyed a day in the sun yesterday, but it’s raining on the shiny metal again this morning… It seems that we’ve returned to the days around 2008 and early 2009, where the dollar is rewarded with bad data… Dollar Bugs will tell you that this is how it should be, as the only true safe haven is the U.S. dollar, and Treasuries. I want to hit these dollar bugs over the head with a Gold Bar! Maybe then they would find the true safe haven! Speaking of Gold… I did some math about a year ago and ran it here, and with all the talk about the U.S. paying off its debts by selling its Gold holdings, I thought it best to pull this back out…There are 5,046 tons of gold at Fort KnoxThere are 7,716 tons of gold at Fed NY Total = 12,762 tons… there are 32,000 ounces in a ton, 12,762 tons x 32,000 = 408,384,000 x $1,590 (price of Gold) = $649,330,560,000 Sorry… but $650 Billion doesn’t even pay for the stimulus that was thrown at us a couple of years ago! But… if the price of Gold were to be pushed up to, let’s say, $5,000… Then we would be talking about making some inroads to the debt! And if the price were pushed to $10,000, then we’re getting somewhere, but… we would still be left with a very large national debt… You see that’s the problem with deficit spending… at some point, the numbers become so HUGE that you can’t make a difference in total unless you come in with both guns blazing! And then keep those guns blazing! Doing one-off corrections, are only chinks in the armor… For long time readers… do you remember a few years ago, when I tried to show the knuckleheads at CNBC that the markets were being manipulated in the afterhours trading, and they laughed and told me to take the story to Hollywood? Well… CNBC has come a long way, I guess, for they allowed Eric Sprott to talk freely about manipulation the other day… Of course maybe not that long a way, as I wanted to include the link to the video here, but it’s not working… and the folks at CNBC did attempt to ridicule him…. But he would have none of it! Maybe CNBC will have it fixed later, just Google Eric Sprott at CNBC, and look for the most recent video.. Anyway, Eric Sprott, Ted Butler, and others, including me, have done our best to inform the public of what’s going on… Maybe one day, We The People will get the message… and exercise our right to contact our representatives and discuss this with them… Then There Was This… I saw this on Reuters… “Financial advisers increasingly warn that U.S. Treasury bonds are close to a bubble and suggest that clients look elsewhere for stable and safe returns. Alternatives recommended include investment-grade corporate and emerging-market bonds, master limited partnerships and preferred stocks.” Chuck again… Hmmm… I liked that they had finally come around to noticing the Treasury bubble, but nowhere on their list of alternatives did I see Gold? To recap… the mini-rally in a handful of currencies yesterday, was wiped out in the overnight markets, and the currencies and Gold are back to Wednesday’s levels. The Greeks agree to elect a government that keeps Greece in the euro. The U.S. posted a monthly surplus for the first time a very long time in April, but then tax collections are made in April, one would think that if they can’t book a surplus in April, when could they? And JP Morgan has really thrown a spanner in the works for a Risk On Day, with their aftermarket announcement yesterday…Currencies today 5/11/12… American Style: A$ $1.0040, kiwi .7845, C$ .9950, euro 1.2935, sterling 1.6110, Swiss $ 1.0770, … European Style: rand 8.1150, krone 5.8650, SEK 6.9550, forint 224.20, zloty 3.2815, koruna 19.52, RUB 30.15, yen 80, sing 1.2520, HKD 7.7650, INR 52.64, China 6.31, pesos 13.54, BRL 1.9530, Dollar Index 80.25, Oil $96, 10-year 1.85%, Silver $28.66, and Gold… $1,582.70That’s it for today… Well… Let’s see… today we will celebrate two birthdays on the trading desk, Lori/ Gidget and Aaron will see their birthdays this Sunday… So Happy Birthday Gidget & Aaron! Sunday, of course, is Mother’s Day… This is a day when I truly miss my mom… and not the mom that was devastated by MS later in life… the mom that would come downstairs and listen to me play the guitar. She loved it when the band got together to play in the basement, and most of all, she was always there for me, and sometimes I didn’t deserve to be “there for”, but that didn’t stop her… So, if your mom is around, give her a great big bear hug, and tell her you love her! OK… time to get this out the door… you’ve been a lovely audience, thank you for reading the Pfennig… I was here all week, I hope you tried the veal! Talk to you next week from Las Vegas… now go out and have a Fantastico Friday! Chuck Butler President EverBank World Markets 1-800-926-4922 1-314-647-3837 www.everbank.com