By Laura Q. Hughes, Editorial DirectorFashion designers have their catwalk shows, and watchmakers, their trade fairs. In both cases, it’s a time for the luxury world’s most imaginative minds to reveal beautiful new creations, set trends, and take centuries-old products and invent them a-new. At the annual watch fairs that took place this April in Basel and Geneva, watchmakers outdid themselves once again—giving watch collectors, trendsetters and simply stylish dressers an abundance of new timepieces to covet. And covet they must, for the watches we saw this spring won’t arrive (for the most part) in stores until fall.What’s worth waiting for this year, or even ordering sight-unseen many months in advance? On our two-week tour of the designers’ new collections, we saw mini-trends emerge that are bound to excite connoisseurs and also get a new group of shoppers to consider buying a luxury watch, or two, or more, this year. Our favorite trends, and examples of the hot new watches that will give those trends legs, follow. In addition, we invite you to come back to EliteTraveler.com in June to download our exhaustive Elite Recommends: Luxury Watch Buyers Guide for the nitty-gritty details on each watchmaker’s most exciting new introduction. And for our selection of the best-in-show from the fairs, pick up the July/August issue of Elite Traveler or check it out in digital form from this web site mid-summer.Return to ClassicsGetting back to basics, and in many cases returning to sobriety, may not sound like a ground-breaking move. But it is a distinctive new direction for an industry that was defined in recent years by ever-growing case sizes and increasingly bedazzled gem-encrusted watches. These new classics—often based on archival designs with clean dials and sensible sizing—seem poised to become the watches one wears to impress in the boardroom, to pass down for generations, and to turn to when quality and good taste are key. Zenith is introducing a new, small case size of 37 mm for men in its “Class” collection. The rose gold version with moon phase is a timeless beauty. Similarly, the new Chronomaster Grand Date with open power reserve measures 40 mm in rose gold, a discrete and elegant chronograph. At Audemars Piguet, where the sporty angular Royal Oak case and oval Millenary case are legendary, a very classic new case shape is joining the line-up. It is still awaiting a formal name, but the rounded square design is pure class. In its first year, it will be made in platinum, and available as a minute repeater or a perpetual calendar. IWC is launching a Vintage collection, which consists of six designs based on watches from its archives. They will be available in steel and platinum, and the first 140 platinum pieces will be sold as sets (for about $241,000). And surprisingly, avante-garde watch company Hautlence, which took a tv screen shaped case to house its revolutionary new movement three years ago, is adding a new, traditional round case, called the HLQ.High Doses of DiamondsAt the opposite end of the spectrum, diamonds (and other dazzling gems) are dressing up the cases, dials, buckles and even movements of luxury watches, this time for both men and women. Patek Philippe of course has new versions of its classic, collectible masterpieces. But the house also offers remarkable diamond-set timepieces this year, most notably the Nautilus set with baguette cut diamonds, for about $142,000. Hublot, which was the first to put the humble material rubber to luxurious use as a strap, is incorporating a spectrum of decadent gems and diamonds on its next introductions, resulting in colorful and glamorous options for women. Michael Beaudry, the California-based jewelry designer known for his masterful work with white and colored diamonds, is extending his repertoire to men’s complicated watches with tasteful diamond accents. Gucci furthers its trademark horsebit motif with its new Chioda rectangular watch for women, which features pave diamond horsebits at all four corners. Bedat’s brand new line of watches for women, No. 2, is a curved oval shape, often filled with delicate diamonds, and its mark of distinction is discovering that the “8” marker missing from the dial resides instead on a lower lug. Perrelet marks a strong return to the watch world with a collection of timepieces for women called Diamond Flower. The company is a watch legend for having created the rotor; in Diamond Flower, a gem-paved bloom serves as a working rotor as it whirls atop the dials of these feminine pieces. Ellicott’s Lady Tuxedo Chronotimer gives the traditionally sporty, masculine chronograph a decidedly glitzy and womanly look, which is a winner for evening. Expectations are always high for fine jeweler Harry Winston to deliver stunning diamond watches, and this year they do it again. The new ladies watch, Avenue Square, features two time zones and a diamond case, resulting in a style the reflects the urban glitter of Fifth Avenue and Times Square in New York. Milus is evolving its popular women’s watch, Marea, into the fine jewelry watch segment by adding precious stones—rubies and diamonds—to spectacular effect. London-based Backes & Strauss traces its origins to fine diamond work, and this year it displays its proprietary diamond cut and skilled settings with the new Royal Berkeley (an octagonally-shaped case covered in octagonally-cut diamonds) and the oval Prince Regent (a one-of-a-kind watch set entirely with baguette diamonds). Franck Muller introduces a new line of watches for women this year called Affinity. These tonneau-shaped gold pieces contain diamonds to various degrees—maxing out at the fully set version. Fine jewelry-maker Van Cleef & Arpels continues to raise the bar for uniting complications with extremely beautiful designs this year, and two stand-out examples are its Jour et Nuit diamond-set 38-mm watch that features a sapphire sun and diamond moon revolving around the aventurine dial as the day unfolds, and the Midnight in Paris watch whose aventurine dial contains the constellations as they would appear in the sky above Place Vendome based on the present time of year. Roger Dubuis is recasting its most successful models for men for women by adding brilliant diamonds and colorful gems to cases, bezels and dials.Innovative ComplicationsNew ways to tell time, or aspects of time…imaginative creators are able to re-invent this process in boundary-bursting ways. World’s first, smallest, thinnest, never-before-mastered—these superlatives go hand-in-hand with the newest innovations and complications. Maurice Lacroix’s big introduction is the Memoire 1, which is the world’s first mechanical chronograph with a memory function that permits the user to switch between real time and the chronograph functions without losing data. De Grisogono’s Meccanico appears to display the time as digital LED, but rather than being powered by a battery it is run the classic way: mechanically. Jean Dunand, which only creates one-of-a-kind pieces, reveals the world’s first instantaneous perpetual calendar on cylinders with a minute repeater this year. And FP Journe also takes the minute repeater to new lengths—this year it introduces a 4-mm-thick minute repeater in steel: the world’s thinnest.Tourbillon TrendTourbillons, those whirling, orbiting, complicated cages within watches that compensate for the effects of gravity on accuracy, continue to rate as an extremely popular complication. Greubel Forsey is one of the masters of it, and this year the company can officially display its completed quad-tourbillons, which were in the works for many years. Breguet is adding a tourbillon to its Eritage line of rectangular watches. The two-axis tourbillon has a bridge that also serves as the 6 marker on the dial. Bovet’s Seven Day Tourbillon is self-winding for the first time this year, and it is available with or without a baguette-set case. Cartier adds an elegant flying tourbillon to its successful new round watch, Ballon Bleau. In celebration of its 275th anniversary, Jaeger-LaCoultre launches four special watches, one of which is a perpetual calendar tourbillon in pink gold. Badollet’s Stellar Crystal Ball Tourbillon is embellished with an inner bezel of jade, and a movement and tourbillon cage that incorporates meteorite (customized versions using onyx, mother of pearl, and other materials are possible too).Times for TravelersWatchmakers are giving elite travelers more ways to keep track of their comings and goings, in any time zone. Breitling’s Bentley watch, a 49-mm case with asymmetric lugs, is newly offered as a GMT. Carl F. Bucherer updates its popular TravelTek Triple Time Zone watch to reveal the date wheel in the multi-layered dial. And Girard Perregaux puts a new twist on world time watches. Its WWTC 24-Hour Shopping indicates when the world’s great shopping avenues (Rodeo Drive, Orchard Road, Bond Street, etc.) open for business.Mastering MaterialsThe materials that are used to make watches—both inside and out—garnered extra attention at the fairs this year as gold and platinum hit record high prices on commodities markets, diamonds continued to rise in price, fashion-conscious shoppers sought out exotic skins like ostrich, stingray and alligator, and man-made substances coated cases and perfected internal functions. Ernst Benz is making his first foray into gold watches, citing an Olympic year as an auspicious occasion to go for the gold. Blancpain is refining its 50 Fathoms dive watch by using a diamond light carbon (DLC) process instead of PVD coating to blacken its stark black case, bracelet and rotor. Ulysse Nardin, a front-runner in the use of silicium within its movements, is now using the material for the hairspring, escapement wheel and additional parts of its Sonata. And Vacheron Constantin’s new “Quai de L’lle” cushion-shaped watch contains the same materials and processes used on Swiss banknotes and passports to create anti-counterfeit qualities to the dial and other parts.Beautiful BacksAs a way to add more beauty, and make the watch an even more personal purchase, some designers are paying extra attention to the design aspects of the backs of their watches. Engraved movements through clear casebacks are worthy of public display at Dubey & Shaldenbrand. Greubel Forsay has the story of the tourbillon engraved in tiny French type on the back of a watch. Chopard’s edition created just for the opening of its new Madison Avenue boutique has the New York City skyline engraved on its case back.TeamworkFinally, watch brands that share corporate values and design aesthetics with other companies are joining forces to create limited edition watches that unite aspects of both. Chanel tapped Audemars Piguet to provide the movement for its new limited edition black J12 with yellow gold details. Richard Mille, in celebration of jewelry house Boucheron’s 150th anniversary, reveals a limited edition of 30 Tourbillon RM 018 watches that incorporate movement wheels set with semi-precious stones, such as tiger’s eye, jasper, black onyx plus diamonds. And Parmigiani is collaborating with yacht-maker Pershing on a collection of sea-worthy watches that reflect the independent spirit of both manufacturers.
Mr. Jorge Ganoza Durant is a geological engineer with over 12 years experience in exploration, mining, and business development throughout Latin America. Jorge graduated from the New Mexico Institute of Mining in 1994. He is a fourth-generation miner from a Peruvian family that has owned and operated several underground gold, silver, and base metal mines. His professional experience is vast and varied – before Fortuna he was involved in business development at senior levels for several private and public Canadian junior mining companies working in Central and South America. Jorge’s experience extends through various countries including Panama, Guatemala, Nicaragua, Honduras, Mexico, Dominican Republic, Haiti, Peru, and Colombia.
Just a few weeks ago, it was revealed that the FBI will be going through a huge stack of emails they stole from a free service, to find some peaceful people they can publicly prosecute. The service was called Tor Mail…and their advertising slogan was Free Anonymous Email. Supposedly, this system was ironclad and immune from government attacks. And, presumably, the operators would do this very hard thing, forever, and for free. That’s just not rational, regardless of the operator’s intentions. Nonetheless, a small army of people signed up and used the service. It was free, after all! Now, they are being burned, and maybe badly. That sucks, and they almost certainly don’t deserve it, but it was also rather predictable. Free is for suckers. Always has been, still is. Jump at “free,” and you volunteer to pay the piper eventually. Free Contributions Versus Free Services There is a fundamental difference between free contributions and free services. Free contributions can be honest, important, and noble. Phil Zimmerman gave us PGP, Tim Berners-Lee gave us HTTP, and Satoshi Nakamoto gave us crypto-currency. All of these were gifts, for which we should be grateful. Operating a service, however, is something different: Zuck: I have over 4,000 emails, pictures, addresses, SNS Zuck: People just submitted it. I don’t know why. They “trust me” Gifting something to the world is wonderful and deserves our gratitude. There’s nothing wrong with it. Nor is there a real problem with the shareware model, or with a free trial before buying, or the donations model. Doing the daily grind that is necessary to run a service, however, is something very different. These are not acts of passion; they are acts of determination and endurance. Sure, there can be moments of passion, but an ongoing service requires far more than that. And, any service provider that can’t deal with “grind it out” work doesn’t survive. The Free Service Game Right now, free services rule the Internet. Yahoo, Facebook, Google, Twitter, Instagram, and all the rest… their business model involves getting people to use their systems for free. But if you use something for free, you are NOT the customer. These companies DO have customers who pay them money, but that’s not you… which means that you are the product! Let’s not forget what Facebook’s Mark Zuckerberg famously texted his friend: Zuck: Yeah so if you ever need info about anyone at Harvard, just ask. Friend: What? How’d you manage that one? A service requires daily work, most of it less than exciting. And there is no end to it. The contribution – the gift – requires a specific and limited expense of time and passion. Zuck: Dumb f*cks Anything you run through a free service goes beyond your control, immediately and permanently. These companies are monetizing your life, and the lives of your family and friends. Again, you are the product, and they’re selling you to anyone who will pay. No one really runs a service for free. The same thing goes for smartphone apps, by the way. They give them to you for free, or for almost free, and they also sell your life to anyone who will pay. The primary purpose of most apps is to spy on you. Read their privacy statements sometime. “Nothing Bad Will Happen” This is said every day, as it has been by more or less all the victims of history. I’m not for walking around in fear of course, but if you grab at “free” products, you are stepping into a trap. If you don’t know the price in advance, you’ll be charged anyway (in this case, by having your life sold), and you’ll overpay. And bad things do happen, as they did to Brandon Raub. Is ‘saving’ a couple bucks really that big a deal? Paul Rosenberg FreemansPerspective.com
Just as a matter of interest, here are Nick’s 12-month rolling intraday price average charts for gold and silver—and as you can tell at a glance, these longer-term charts bear no resemblance whatsoever to the June charts in either metal. What does it mean, you ask? The shorts answer is—I don’t know. I’m just pointing it out for informational purposes. I strongly suspect that it will be an interim price top The gold price was under quiet selling pressure right from the open in Far East trading on their Thursday—and by 1 p.m. Hong Kong time, the price was down $5. From that point it chopped sideways until shortly after 11:30 a.m. in London—and then the selling pressure got a little more serious. The low came right at 8:30 a.m. on the release of the jobs number. From there gold rallied until the London p.m. fix was in—and that was pretty much it for the remainder of the day, as the U.S. traders headed out the door for an early start to their long weekend. The high and low ticks were reported by the CME Group as $1,329.00 and $1,309.40 in the August contract. Gold closed on Thursday in New York at $1,319.60 spot, down $7.60 from Wednesday’s close. Net volume wasn’t exactly light at 133,000 contracts. Both platinum and palladium really wanted to fly after Zurich opened yesterday, but their attempts, like on Wednesday, were met by a willing not-for-profit seller. Here are the charts. Sponsor Advertisement Here’s Nick Laird’s Long-Term Silver 7/Sentiment chart—and as you can see, June was a very good month for the silver stocks. But last month’s gains should be put into some sort of perspective when framed against how far these same equities have to go to get back to their old highs. The silver price had a very similar chart pattern except for the fact that the rally off the 8:30 a.m. EDT jobs number was somewhat more robust but, like gold, the rally ended at the London p.m. gold fix—and silver chopped sideways into the close. The high and low ticks in silver were reported as $21.23 and $20.82 in the September contract. Silver finished the Thursday session at $21.125 spot, down 2.5 cents from its Wednesday close. Volume net of July and August was way up there once again at 43,000 contracts. Not that I want to rain on anyone’s parade—and I’d love to be be wrong at the top of my voice on this—but the current price action has all the hallmarks of a price top. It’s a theme I’ve been harping on for the last week or so. I strongly suspect that it will be an interim price top, but this overbought condition must be relieved before prices can power higher. The only question remaining, at least for me, is how severe—in both speed and duration—will this engineered price decline be? And as I type this paragraph, the London market has been open for just a couple of minutes. None of the four precious metals did much in Far East trading on their Friday—and all four are at, or a hair above, their Thursday closes in New York. Considering the fact that the New York traders are MIA, I’m surprised that the volumes are this high. Gold’s volume is just over 11,000 contracts—and silver’s volume is 5,500 contracts. The dollar index, like the precious metal prices, is comatose. I’ve decided that since the markets are closed in New York today—and there is no Commitment of Traders Report or companion Bank Participation Report to discuss—a Saturday column just isn’t worth the effort, as there won’t be a thing of interest in it. But I can tell you in advance that my Tuesday column will be the equivalent of my Saturday column—a really big read—but minus the “blasts from the past.” Here’s a chart that Nick Laird slid into my inbox late Thursday evening Mountain Daylight Time. It’s the “Global Indices” chart—and what it shows should come as no surprise, as the biggest stock market bubble in the history of Planet Earth rages on. And as I send this off to Stowe, Vermont at 5:05 a.m. EDT, there’s still not much going on now that London has been open a hair over two hours. Gold volume is up about 40% from the numbers posted in the previous paragraph—which isn’t much for this time of day—and silver’s volume is up less than 20% from two hours prior, so it’s obvious that the remainder of the Friday trading session should be quiet as well. However, there’s always that black swan out there. The dollar index is now up 8 basis points. That’s all I have for today. Enjoy your weekend—and I’ll see you here on Tuesday. The gold stocks gapped down two percent at the open—and hit their lows of the day less than ten minutes later. From there they made every attempt to rally back to unchanged, but the markets closed at 1 p.m. EDT—and the best the HUI could do was finish down only 0.60%. However, it should be obvious to all except the willfully blind—and those whose jobs depend on them not seeing it—is that I can absolutely guarantee that there’s nothing free market about the price patterns on any of these four charts. I have very few stories for you today—and I hope you’ll find one or two that interest you. While the same 100 million ounces of metal is, effectively, available for investment in both gold and silver annually, because of the great price difference, that translates into a markedly different comparison on a dollar basis. 100 million oz of gold equals $130 billion, while 100 million oz of silver equals $2 billion. These are the dollar amounts required to be expended by the world’s investors in order to absorb the new gold and silver produced annually. Not only is it, obviously, easier for the world to come up with $2 billion than $130 billion, it is also easier for the world to come up with more than the $2 billion required in silver to strongly propel silver prices higher. That’s the key to precious metals prices – investment demand. That silver requires such a small amount of investment dollars to ignite prices to the upside compared to gold is the key difference between the two metals. – Silver analyst Ted Butler: 02 July 2014 Since I won’t have a column on Saturday, here are your weekly “blasts from the past.” The pop one was a smash hit the same summer that I graduated from high school—1966. The Lovin’ Spoonful was a hot band in the mid-1960s—and made a huge impression on me. Their biggest hit is linked here. Today’s classical selection is a short piano work composed by child prodigy Frédéric Chopin in 1834. It’s his Fantaisie-Impromptu in C sharp minor, Op. 66. You have to be one of the giants of the piano world to do this work justice—and Evgeny Kissin is more than up to it. I heard this on CBC FM yesterday—and thought it worth sharing. It’s one of his most popular compositions—and you’ve probably heard it in one form or another at least once in your life. The link is here. When I turned on my computer yesterday morning, I couldn’t figure out what the down/up price spikes in gold and silver were all about until Ted Butler gently reminded me that because of the July 4 holiday, the jobs number had come out a day early, so that explained the price action—as counterintuitive as it is, because there’s no real reason why the jobs numbers should affect the precious metal prices. Here are the charts from yesterday—and once again I wasn’t happy with the volume numbers for either gold or silver—especially silver—but I’ll chock it up to yesterday’s price action. However, once the p.m. gold fix was done—and London closed for the day, volumes vanished as prices flatlined for the remainder of the New York trading session. The agreement with Sumitomo on the Fourth of July project is a great compliment to our recent agreement with Newmont Mining on the Wood Hills South project. We also have the Arabia, Golden Shears and some generative efforts being funded through our joint venture business model. We have enough capital in the bank to last two more years and no debt. The share structure remains at 33.5 million fully diluted. We are very well positioned to have a major win with an incredible share structure. Renaissance Gold has proven through the joint venture business model what exploration success with a tight share structure can do. Renaissance is the spinout of AuEx Ventures that sold in 2010 and made just shy of 100x their first private placement. It takes technical strength and fiscal conservatism to generate meaningful share holder returns in the high risk exploration business. Please visit our website for more information. It was more or less the same price pattern for the silver equities, but the rally of their lows was much more vigorous—and Nick Laird’s Intraday Silver Sentiment Index closed up 0.61%. The CME’s Daily Delivery Report showed that 25 gold and 135 silver contracts were posted for delivery within the Comex-approved depositories on Tuesday. In gold, ABN Amro was the short/issuer on all 25 contracts—and Canada’s Scotiabank and Morgan Stanley split them up between themselves. In silver, the only two short/issuers were Jefferies and ABN Amro with 114 and 21 contracts respectively. Not surprisingly, it was the biggest silver shorts on Planet Earth as the largest long/stoppers—JPMorgan with 63 for its client account and Canada’s Scotiabank with 45 contracts. The link to yesterday’s Issuers and Stoppers Report is here. There were no reported changes in GLD—and as of 9:59 p.m EDT yesterday evening, there were no reported changes in SLV, either. Since yesterday was Thursday, Joshua Gibbons, the “Guru of the SLV Bar List” updated his Web site with the weekly goings-on within the SLV/span> ETF—and he had a lot to say in this week’s report: “Analysis of the 02 July 2014 bar list, and comparison to the previous week’s list: 2,544,213.2 troy ounces were removed (all from Brink’s London)—and no bars were added or had a serial number change.“ “The bars removed were from: Jiangxi Copper (0.6M oz), Solar Applied Materials (0.4M oz), Russian State Refineries (0.3M oz) and 18 others. As of the time that the bar list was produced, overallocation could not be calculated (due to the inaccurate bar list).“ “The list shows 864,675.8 oz of bars as being in SLV, that iShares.com reported as having been removed on Monday. That is very unusual. So did an A.P. not get their silver right away (why?) or is the bar list several days out of date (why?).” “There was a withdrawal of 127,074.4 oz yesterday that should be accounted for on next week’s list.“ “There was another unusual timing of an update last Thursday (June 26) at 11:15 p.m., whereas updates almost always occur between 8:00-9:00 p.m. ET.” The link to Joshua’s Web site is here. There was no sales report from the U.S. Mint yesterday. Over at the Comex-approved depositories on Wednesday, there was almost no in/out action in gold worthy of the name, as only 402 troy ounces were received—and nothing was shipped out. But silver made up for it once again, as 602,891 troy ounces were reported shipped in—and 1,309,274 troy ounces were shipped out the door. Virtually all the silver action was at CNT or Canada’s Scotiabank. The link to the silver action is here. Nick sent me the intraday price charts for June for both gold and silver. Both have very similar shapes. The average of all trading days in both metals indicated that once the daily trading noise is removed, it shows that [in June] both metals began to rally shortly before the Comex open—and these rallies ended at the 1:30 p.m. Comex close. The dollar index closed at 79.94 late on Wednesday afternoon in New York—and crawled up to the 80.05 mark by the time the jobs number was released at 8:30 a.m. EDT. The index then blasted higher—and 30 minutes later it was at 80.30. It slid a bit from there into the London p.m. gold fix—and then traded flat for the remainder of the New York session. The index closed at 80.21—up 27 basis points.
DEADLINE ALERT: Midnight Tomorrow (New Year’s Day)… Tomorrow at midnight, we’re closing our lifetime membership offer, Casey Platinum, to the public. The doors won’t open again for perhaps an entire year. If you would like to get all of our stock research for a tiny fraction of what others might pay, CLICK HERE NOW. Recommended Links Editor’s note: Today and tomorrow, to close out our special holiday series, we’re sharing a brilliant two-part essay from Casey Research founder Doug Casey on the corruption of the English language. It’s been one of Doug’s most popular essays this year. One longtime reader even wrote in to tell us, “as an avid reader of your columns for years, I would say this is the most outstanding piece I have read.” We think you’ll enjoy it as well… Let’s discuss words. Many of the words you hear, especially on television and other media, are confused, conflated, or completely misused. Many recent changes in the way words are used are corrupting the language. The corruption of language is adding to the corruption of civilization itself. Words are extremely important because they provide the most important means we have to communicate with each other. If you don’t mean what you say and say what you mean, then it’s impossible to communicate accurately. Do you remember that famous line at the end of Cool Hand Luke, when Paul Newman gets shot? “What we’ve got here is failure to communicate”? That’s what I want to talk about. Where shall I start, because there are over a million words in English? I’ve rather arbitrarily chosen a few that are especially relevant to investors and freedom lovers. Many of these words are popular with the political classes. For instance, stimulate the economy. That phrase came out in the ’60s. It really just means “print up money.” They don’t use it much anymore because they can see it no longer results in stimulus; rather, the opposite. Now it’s called quantitative easing. And everybody uses it without questioning the fact that it means “print money,” “inflate the currency,” or “debase the currency.” They say “quantitative easing” with no irony. It makes me think the chattering classes are actually, in reality, quite stupid. I’ll discuss that word—“stupid”—later. The “powers that be” use a word, and all the jabbering monkeys follow their lead using the same word. I advise you to call them on it. When you use the enemy’s language, you’re playing the enemy’s game on his field. And you can’t win a battle when you do that. You may have noticed, for instance, that over the last 10 years, they only talk about gold in terms of tonnes. Not ounces, tonnes. This is doubly confusing to the average guy. Because they’re basically innumerate. Most people are unaware that there are two kinds of tons. There are metric tonnes, which are 1,000 kilos, or 2,204 pounds. And English, or short tons, of 2,000 pounds. And a lot of times, when I see things written, they’ll write “a ton of gold,” and they spell it T-O-N. It’s totally different from a T-O-N-N-E of gold, but nobody knows that, including the ignorant journalists. But they shouldn’t be using either “tonnes” or “tons.” If you’re going to price something in ounces, and use something in ounces, and miners report it in ounces, it’s idiotic to insert “tonnes” into the conversation. Nobody buys or sells or uses a tonne of gold. Even though gold is priced in dollars per ounce, you have fools who talk about tons or tonnes—not having a clue how many troy ounces are in either of them. Or even vaguely knowing what a tonne of gold is worth. But it serves to make the subject of gold more confusing, and more irrelevant, to the average guy. Let’s talk about bonds. I’m short bonds right now. But do you remember when debt instruments used to be called bonds and debentures? That is a critical but totally lost distinction. A bond is a debt instrument that is guaranteed by a specific asset in addition to the company’s credit. A debenture is a debt instrument that is just guaranteed by the issuer’s general credit. Whatever happened to debentures? Apparently, they don’t exist anymore. Why? Because although almost all debt instruments are debentures today, they’re now called bonds—which are better than debentures. It’s subtle, dishonest, and indicative of what’s happened to the credit universe in general. Things are made to look better than they, in fact, are. Another one. Time deposits and demand deposits. Some of you may remember the proper use of those terms. But, now, they’re completely conflated. Banking is actually two totally separate and different businesses combined into one. With time deposits, you give the bank X number of dollars for a specific length of time, and then the bank guarantees you a specific amount of interest. Why? So it can lend it out at a higher rate of interest for an identical amount of time, generally in a self-liquidating, secured business loan to somebody of substance. Consumer and mortgage loans are out of the question to a sound banker. Time deposits still—kind of—exist in the form of CDs, but they’ve generally morphed into savings accounts in the common vernacular. And even those have disappeared and have been conflated with demand deposits—called checking accounts by most people. They are totally different animals. At least if you’re running a sound bank. Historically, with checking accounts, the bank doesn’t pay you interest; you pay the bank a fee. Why? For the service of storing your money, and the convenience of writing checks against it. It’s as if you gave your furniture to Allied Van and Storage, paying them to store it. Now, this distinction is totally lost, and they can, in effect, lend your furniture out. This, plus the fractional reserve system, is why all the world’s banks are illiquid, and most are basically bankrupt. Investment. Savings. Everybody uses these words, often interchangeably. But nobody ever defines them, because they don’t understand what they actually mean. So, they’re misused and conflated. What is investment? “Investment” is the allocation of a certain amount of capital to a productive enterprise, intended to create more capital. It’s like planting a seed. “Savings” is simply putting aside the fruits of past production. You should produce more than you consume. When you set aside the excess, that is savings. Saving creates capital, and with capital, you can invest. But now, the concepts of savings and investment are conflated. The difference between them is undefined and therefore uncertain in the public’s mind. Speculation. A lot of people think, “Speculation? Oh, that’s gambling.” Well, actually no. Speculation is allocating capital not to create more capital, but to take advantage of distortions and misallocations created in the market—usually by government interference. Gambling is to engage in a game of chance—roulette, dice, or the like. Since most people in the markets have no idea what they’re doing, they actually are gambling—just using their brokerage house as a casino. Perhaps that’s why people conflate the two things. Shareholders and stakeholders. We all know that a shareholder actually owns a share in a company, but have you noticed that over the last generation shareholders have become less important than stakeholders? Even though stakeholders are just hangers-on, employees, or people who are looking to get in on a shakedown. But everybody slavishly acknowledges, “Yes, we’ve got to look out for the stakeholders.” Where did that concept come from? It’s a recent creation, but Boobus americanus seems to think it was carved in stone at the country’s founding. We’re told to protect them, as if they were a valuable and endangered species. I say, “A pox upon stakeholders.” If they want a vote in what a company does, then they ought to become shareholders. Stakeholders are a class of being created out of nothing by cultural Marxists for the purpose of shaking down shareholders. Inflation. This is one of the most misused words; few even think about its actual meaning. What is inflation? “Well, that’s prices going up.” No, it’s not. To say that is to confuse cause and effect. Inflation is an increase in the money supply. You inflate when the money supply is increased by more than real wealth increases. Prices go up as a result. People have forgotten about that. Today, inflation seems to come from out of nowhere, like a freak storm. No cause. Unless it’s blamed on the butcher, or the baker, or an evil oil company. Nobody ever thinks it’s a central bank—the Fed in the U.S.—that actually creates more money, and causes inflation. You’ve heard that the Federal Reserve is trying to create a little bit of inflation because, they say, “A little bit of inflation is good.” No, even a little bit of inflation is deadly poisonous. For two reasons: It creates the business cycle. And it destroys the value of savings. Saving is the basis of capital creation. People who say that a little inflation is a good thing are dangerous fools. Well, what about deflation? That’s a bad thing, they say. Well, is it? In fact, deflation is a natural thing in a healthy capitalist economy. Why? Because in a healthy capitalist economy, every year, more wealth is created. An increase of wealth means prices, denominated in a sound money, will go down. And when prices go down, it means that the money you saved is worth more. Your standard of living will rise. Deflation encourages saving. And that’s a good thing, not a bad thing, because remember, savings represents the excess of production over consumption. That’s how you get wealthy, by producing more than you consume and putting aside the difference. And when you have deflation, where your money becomes more valuable every year, you’re encouraged to save. When the government destroys the currency by inflating it, saving is discouraged. Of course, at this point, because of the unsound monetary system, we might get a catastrophic deflation. A credit collapse. Another misused word is money. Money can be defined as a medium of exchange and a store of value. Historically, it’s always been something tangible. For instance, cows or salt. The word pecuniary comes from pecus, which is the Latin word for cow. We get salary from the Latin word for salt. But gold and, sometimes, silver have always been preferred as money. What you’ve got in your wallet, however—those dollar bills—are currency. Currency is a relatively recent invention. It’s the government’s substitute for money. It originated as a receipt for money, i.e., gold. Currency no longer has any relationship to money. And now, forget about even having currency; it’s all about credit. Even currency is going out of circulation with the War on Cash. Soon you’ll only have credit, ephemeral digits in the ether. Everything you buy or sell will go through your bank account, so the powers that be can know exactly what you’re doing. It’ll be pretty much impossible to evade taxes. Or maintain any privacy. The world’s rapidly going in that direction. It’s a huge mistake, and we should not do that. Wait a minute—what did I just say? I said, “We should.” Those are perfectly fine English words except when they’re used together. We should. You remember Tonto and the Lone Ranger? Do you remember the joke about when they were surrounded by a bunch of hostile Indians—excuse me, Native Americans—and the Lone Ranger says to Tonto, “Tonto, we’re in a lot of trouble.” And Tonto looks at the Lone Ranger—incidentally, Tonto means “stupid” in Spanish—and says, “What do you mean we, white man?” We is a dangerous word. Especially when combined with “should.” It often occurs in political speeches or in comments by talking heads. Listen to the imbeciles on TV, and see how many times the words we should occur. I’m sympathetic to Tonto. Another word the political class uses a lot lately is diversity. “We’ve got to have diversity.” No, we don’t have to have diversity. I don’t see why every room has got to have a few blacks, Hispanics, or women. Well, of course, half of the human race are women. But I occasionally like to go to a men’s club. It’s odd that men are never invited to ladies’ functions—and don’t care. In fact, birds of a feather usually flock together. This is perfectly natural. I don’t think you need diversity. If you want it in your club, fine. But freedom of association is far, far more important. I form my friendships based upon neither diversity nor a lack of diversity, although there’s a natural tendency to associate with people like yourself. I form my friendships based upon the character and the beliefs that a person has. The attributes that create diversity are stupid accidentals. The fact that diversity is emphasized draws attention to incidentals like race, sex, and gender, and diverts it from important things like character and beliefs. Diversity has become destructive. Cultural Marxists love it because they hate people. Unity has also become poisonous. That’s another one moronic politicians love to invoke: “We’ve gotta have unity.” No, we don’t have to have unity. In fact, we shouldn’t have unity. Unity is dangerous. It’s what happens when all the chimpanzees get together and start hooting and panting to create a war. People like Hitler, Stalin, and Mao required unity. Remember when it was okay to have bank secrecy, or any kind of secrecy? And then secrecy became somehow wrong. So, moral cowards said, “Let’s just have privacy; the word sounds less threatening.” Well, you can forget about privacy, too. Now, you’re just supposed to have transparency. That’s another word that’s just been revitalized in the last politically correct generation or two. It’s promoted by busybodies as a good thing. Transparency is a condition where everybody can see everything. Frankly, in my life, I don’t want everybody, or anybody for that matter, to see anything; it’s none of their damn business. The ability to maintain privacy or secrecy is one thing that separates civilized men from primitives living in mud huts. I don’t acknowledge either the necessity or the automatic goodness of transparency. Now, if I own shares in a publicly traded corporation, as a shareholder, I’ll demand transparency from the management. Generally speaking, management shouldn’t be trusted. They’re hired suits, and shareholders should keep them on a short leash. But nobody other than shareholders has a right to demand transparency from a corporation. In general, forget about this word. It’s popular. Everybody uses it. But it should be expunged from your vocabulary simply because it’s become such a favorite of cultural Marxists and busybodies. Editor’s note: As you know, Doug is among the most respected investors in the world. Since 1979, he’s called some of the biggest financial events of our time. And now, until tomorrow night only, you can get all of Doug’s future moneymaking research—as well as everything we publish here at Casey Research—as part of our exclusive Casey Platinum Membership. If you’ve wanted to see the many different products we offer, this is a way to save tens of thousands of dollars over the years. To learn more about this incredible opportunity, click here. 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— Recommended Link Recommended Link “Here’s How I Became a Pot Stock Millionaire… and You Could Too” Justin’s note: Yesterday, Doug Casey and I talked about the decline of nation states. Today, we continue our discussion… and look at what could ultimately replace them…Justin: Will politicians allow this to happen? Or will they use the next crisis as an opportunity to seize more power and wealth from everyday people?Doug: There’s no question about that. The prime directive of every living entity—including governments—is to survive. They’ll try to do so at any cost. They’re like giant dinosaurs in their death throes, thrashing around wildly. They’re very dangerous. You’re going to have to be a very smart little mammal that hides in a hole to not get crushed by them.The best template for how this is probably going to evolve was laid out in Neal Stephenson’s book, The Diamond Age. In that book, which is a work of genius, Stephenson explains how the world is likely to reorient itself. He expects most nation states will dry up and blow away.Sure, some will still exist, but most will be replaced by what he calls “phyles.” These are support groups based on whatever you value most. These phyles will provide services like defense and insurance. So, they’ll offer all the benefits that nation states offer today but they’ll necessarily do a much better job, because they’re private, voluntary, and cohesive.More and more people will discover who their real countrymen are. You’ll find out who you really want to associate and ally yourself with. And it won’t be people who just so happened to have been born in the same area as them, many of whom you have nothing in common with except proximity or government ID. Some may even be enemies or parasites… Wall Street wants THIS Because it’s been data-proven to predict stock market wins with 93.5% accuracy… A full 365 days in advance. We call it the “K Sign” indicator—and you simply won’t believe what it can do… But you can easily find out by clicking right here. Justin: And he thinks these phyles will replace governments completely?Doug: There will still be governments that control certain geographical areas. After all, governments have lots of force. And most people are like chimpanzees; they crave, or at least accept, leadership by the biggest and most aggressive monkey. But I expect many will eventually be replaced by phyles. This will be technology driven.And with migration unfolding the way it is, Africa is going to have hundreds of millions of Han Chinese changing the situation on that continent. They’re basically going to take over that continent. At the same time, scores of millions of African migrants will take over Europe.Those are two big trends that I feel certain about. Who knows what other side shows will happen? But the nation state in its present form is a dead duck. And good riddance to it.Justin: I find the concept of phyles fascinating. But can you help me better understand how they’d work? How big would they be? Would they span across countries and continents?Doug: Well, again, people naturally fall into groups of the like-minded, joined by the things that are most important to them. They could be their philosophy, their religion, or their occupation. In prisons, for instance, it’s race. Inmates self-segregate. The concept is a perversion of the phyle concept, in a way. But to many people race is the most important thing in their lives.Every individual has several, or a dozen, or perhaps a score of things that are important to them. In my case, my friends are people who share my worldview. They believe in maximum social and economic freedom. Those are good qualifiers. I also prefer—I’m quite exclusionary, actually, no “diversity”—people who are honest and competent. And I tend to associate with people of the same economic status because I frankly find that poor people mostly don’t usually bring much to the party.Justin: Why do you say that?Doug: Poor people are usually poor for a reason. They have bad habits. I know all the excuses and sob stories, and some of them are even true. But I don’t want to associate with people who have bad habits, whether they’re rich or poor.I can probably put my finger on about 25 or 30 people in the world that I’d want standing next to me when it’s time to fix bayonets. But that doesn’t, incidentally, include the average guy that lives in Aspen, Colorado, which is where I spend the northern summer. For that matter, it doesn’t apply to the average guy anywhere. In today’s world, “average” doesn’t cut it.In most cases people maintain an acceptable social veneer. But they’re not reliable or trustworthy enough to be part of a phyle that I’d join.There will end up being thousands of phyles, everything from the Hell’s Angels to the Rotary Club. And that’s a good thing. It’s much better than just dealing with the people who happen to live in your area. — Lots of folks hound me to know how I became a pot stock millionaire. I’ll tell you up front, the way I did it is too risky for most. But we’ve discovered a much safer way to play pot stocks. It’s obvious marijuana will soon be legalized everywhere and we’re on the ground floor of a pot bull market. In this video, I reveal how you should play the pot stock bull market. Justin: How long could it be before nation states start going up in smoke? It seems like this is already happening in Europe where many countries appear eager to break off from the European Union (EU).Doug: No question about that. The EU is a complete dog’s breakfast, and has become totally counterproductive. One thing that you can plan your life around is that the EU will break up, dry up, and blow away. It’s completely dysfunctional. It makes absolutely no sense to have 50,000 bureaucrats, useless mouths, in Brussels making everybody’s life miserable.The EU started out as a free trade zone for iron and coal. Good, but unnecessary. And then it metastasized. The idea of a political group managing free trade is a contradiction, idiotic actually. You only need each individual government to drop its barriers, duties, and quotas—unilaterally. The US, and any other country, should have zero of these things, for its own benefit. Otherwise it’s like putting yourself under embargo.Free trade is wonderful and natural. But having the EU or NAFTA facilitate trade is ridiculous and counter functional. The same goes for the United Nations, which is nothing but a corrupt club for bureaucrats. It serves no purpose, and should be abolished. It’s just a drain on the world economy, the EU on steroids.One of the nice things about the Greater Depression, which we entered upon in 2007, is that these governments will become unaffordable. The United States will soon find out that its giant military/industrial/security complex is not only bankrupting the country, but putting it in serious danger. It doesn’t “defend” the US, but draws attacks and creates enemies. And it certainly doesn’t defend freedom, rather the opposite.All their domestic welfare programs are not only unaffordable but—even if they were free—are actively destructive. They’ll fall apart during the coming time of economic stress. And that’s a good thing, although the period of change will certainly be inconvenient and unpleasant for many people.What scares me is that people will act like chimpanzees during this chaos. They’ll be afraid. And they’ll want somebody to protect them. But that, of course, is asking for real trouble.Leaders that promise the most freebies, and the most safety, usually end up being someone like Stalin, Hitler, or Mao. That will happen in the States, too. We’re no longer the country we once were not so long ago.I mean, a lot of people hate Trump. I don’t have any particular animosity toward him. Sure, he’s done some pretty stupid things; his foreign policy of late borders on the criminally insane. But at least the Deep State—which really exists, should any naïfs have any doubt—hates him. And that shows he’s doing a few things right…But what really scares me is the next president, because that person will be elected in the middle of a gigantic crisis. And I’m afraid that Americans will pick someone very, very dangerous.Justin: What will happen to public services when nation states get wiped out? Will phyles provide things like defense and education? Who will be responsible for public infrastructure like roads and bridges?Doug: Well, there’s absolutely nothing that the government does that entrepreneurs couldn’t do better and cheaper.The only justification for the State is its pure coercive power. People seem to think it’s necessary to have an organization with massive coercive power on top of society. That’s the essence of the state. It’s supposed to protect you from force initiated by other people. The army is there to protect you from people outside your geographical area. The police are there to protect you from criminals within your geographical area. And a court system that allows you to adjudicate disputes without resorting to force.That’s what governments are supposed to do, at least in theory. I could live with a government that did that, and only that. But many governments, including the U.S. government, do these jobs incompetently, and at inordinate cost. Worse, they try to do absolutely everything else.In fact, I don’t believe the State should do anything. It’s innately dangerous, incompetent, and always draws the worst kind of people.It certainly shouldn’t be in charge of education. That’s the responsibility of parents. Education is the last thing that should be handed over to the State, if only because the public schools always tend to indoctrinate kids rather than educate them. Public schools also take responsibility away from parents. That makes them irresponsible, which is disastrous.What else? Welfare? Before the Roosevelt regime, Americans used to provide charity on a one-to-one basis. You found somebody who was worthy of help and you helped them. Or you joined something like the Rotary, Optimists, Lions, Knights of Columbus, or what-have-you. There used to be 1,000 organizations like that. Their business was to help people who deserved help.But all these organizations have been minimized because of the huge amounts of capital the State draws out of society. The State has replaced them. In the process the State has cemented the proles to the bottom of the barrel with their institutionalized programs.And this is true of absolutely everything and everywhere the government sticks its tentacles.Justin: Thanks for speaking with me today, Doug.Doug: You’re welcome.Justin’s note: Most know Doug as a legendary crisis investor. But he’s also a “marijuana millionaire.” And on Thursday, April 26 at 8 p.m. ET, he’s joining me and Crisis Investing editor Nick Giambruno to discuss why investors will be handed a rare second chance at investing in this market.This second wave is expected to be 8 times bigger than the first, when pot stocks were gaining 3,986%, 17,300%, 69,000%… even 299,000% and 399,000%.To hear from Doug himself on this exclusive FREE event—and why the time to strike is now—click here.Reader MailbagDo you agree with Doug’s take on nation states? Do you think they’ll ultimately be replaced with phyles? Let us know here.A Fed-Issued Digital Currency? As soon as July 21st, governments around the world plan to send the entire crypto market through the floor. They aim to take control of your wealth and what it’s worth. But there are simple things you can do today to protect yourself… Find out here.
Watching an infant propel herself across the floor on wheels in a saucer-shape baby walker may be as entertaining as a comedy episode. But because hospital emergency rooms treat more than 2,000 babies a year for injuries sustained while using these walkers, American pediatricians are repeating their decades-old call for a ban.”I view infant walkers as inherently dangerous objects that have no benefit whatsoever and should not be sold in the U.S.,” says Dr. Benjamin Hoffman, a pediatrician who chairs the American Academy of Pediatrics Committee on Injury, Violence and Poison Prevention.More than 230,000 children under 15 months old were treated in U.S. hospital emergency departments for skull fractures, concussions, broken bones and other injuries related to infant walkers from 1990 through 2014, according to a study in the journal Pediatrics published Monday.The walkers are designed to mobilize babies not yet able to walk on their own, but moving on four wheels sometimes sends them on dangerous paths or tumbling down stairs.Pediatricians have long warned against using baby walkers, and consumers groups joined them to call for a ban in 1992. Publicity about the hazards has led some parents to stop using infant walkers and manufacturers to voluntarily tighten safety standards. In fact, the number of injuries related to baby walkers dropped dramatically from nearly 21,000 in 1990 to 3,200 in 2003, the study notes.In 2010, the U.S. Consumer Product Safety Commission strengthened safety requirements on the manufacture and testing of infant walkers, such as installing brakes to prevent stair falls. Injuries dropped an additional 23 percent in the four years after the federal mandatory safety standards took effect compared with the four years prior, the study found.The study is the first to examine the impact of these regulations on emergency room visits. The researchers conclude that the rules probably slowed the number of injuries, but thousands of children are still getting hurt.”Despite this great success, there are still 2,000 children a year being treated for injuries, many of them serious injuries, in emergency departments,” says Dr. Gary Smith, the study’s senior author and the director of the Center for Injury Research and Policy at Nationwide Children’s Hospital in Columbus, Ohio. “Therefore, we support the position of the American Academy of Pediatrics that baby walkers should not be sold or used. There’s absolutely no reason these products should still be on the market.”Smith and Hoffman, who practices at the Oregon Health and Sciences University in Portland, agree that the study provides further proof that the CPSC should follow Canada’s lead and ban the manufacture, sale and import of infant walkers. Canada banned the devices in 2004.The CPSC, an independent government safety agency comprising five presidential appointees, notes that the study shows that injuries have decreased significantly since the 2010 regulation. “CPSC continues to monitor the products’ safety,” it says in a statement to NPR.But doctors say the damage infant walkers can do to children’s brains and bodies is not worth the risk of keeping them on the market. Smith has treated babies who landed head-first on concrete after falling down a flight of stairs while strapped into an infant walker. So has Dr. Jerri Rose, a pediatric emergency physician and professor at Case Western Reserve University School of Medicine in Cleveland.Rose, who was not involved with the study, says she has seen a slight drop in the number of babies coming into the hospital after being injured in infant walkers. But she continues to treat infants who get into accidents in walkers.”They’re really not safe,” she says, especially because parents often use them as baby sitters so they can turn away and focus on other tasks.The walkers can allow babies to toddle into areas they ordinarily could not reach — stairways, pools, bathtubs and kitchens. Some have drowned, and some have suffered burns after pulling boiling food off stoves, Rose says.A previous investigation identified eight babies who died from 2004 to 2008 as a result of injuries sustained in infant walkers.Smith estimates that babies strapped into infant walkers can travel 4 feet in one second — faster than their parents.”Parents bought the myth that if they watched their children carefully they wouldn’t get into trouble,” he says. “But that was a myth.”Also, many parents mistakenly believe that infant walkers can speed their children’s ability to walk. But studies have shown that they might slow motor development, Rose says.Many families still buy infant walkers despite the warnings, though, and some families hand them down from generation to generation, the authors of the Pediatrics study write. Stores stock a colorful selection of walkers decorated with an array of animals and Disney or Sesame Street characters.As a safer alternative, Rose recommends stationary activity centers, which provide babies entertainment without mobility.It’s not just infant walkers that cause injuries. Improper use of infant walkers, baby carriers, strollers, changing tables and bath seats brings children 3 years or younger into U.S. hospitals to be treated for injuries every eight minutes, a recent study showed, and these injuries are on the rise.Ronnie Cohen is a Northern California journalist who frequently writes about health. Follow her on Twitter @ronnie_cohen. Copyright 2018 NPR. To see more, visit http://www.npr.org/.
[dropcap]J[/dropcap]ust like Liverpool were prepared for the challenge against Man U in the Europa Cup this week I’ve a feeling that the blue half of Merseyside will be well up for the visit of Chelsea in the FA Cup.Everton already hold an aggregate 6-4 lead over Chelsea in two Premier League games this season and there’s only two points between them in the table.Chelsea haven’t had much time to re-group having been dumped out of the Champions League at the hands of PSG and in contrast Everton have not played since last week’s 3-2 defeat against West Ham so should be the fresher side.Chelsea’s interim manager Guus Hiddink said: “We had a difficult loss [against Paris St-Germain] and just two days to recover physically, psychologically and mentally. It’s always a blow when you’re knocked out (even when) by a good team. Now the players have to respond. Mentally, it’s very important they’re resilient.”Everton have not played well at home this season and will be without Bryan Oviedo is doubtful with a chest infection, whilst Aaron Lennon’s hamstring problem will also be assessed.Kevin Mirallas begins a ban but Gareth Barry and Tom Cleverley should be fit after recovering from illness.Chelsea have bigger injury concerns. They will assess the fitness of John Terry, who returns to the squad after recovering from a hamstring injury.The Blues will also make a late decision on Diego Costa, who went off in midweek with a hip tendon injury.Eden Hazard is however available despite being troubled by an ongoing hip problem.Everton v ChelseaFA Cup Quarter-Final17:30 BBC One / BBC One HDHEAD TO HEAD RECORD(Maximum 10 matches)Jan 2016 PREMIER Chelsea 3-3 EvertonSep 2015 PREMIER Everton 3-1 ChelseaFeb 2015 PREMIER Chelsea 1-0 EvertonAug 2014 PREMIER Everton 3-6 ChelseaFeb 2014 PREMIER Chelsea 1-0 EvertonSep 2013 PREMIER Everton 1-0 ChelseaMay 2013 PREMIER Chelsea 2-1 EvertonDec 2012 PREMIER Everton 1-2 ChelseaFeb 2012 PREMIER Everton 2-0 ChelseaOct 2011 CARLING CUP Everton 1-2 ChelseaEverton at 13/8 makes appeal with Star Sports and I’ll also take the 100/30 about them leading at HT and FT.Come on the Blues. The Everton Blues that is.RECOMMENDED BETS (scale of 1-100 points)BACK EVERTON for 10 points at around 13/8 with Star SportsBACK EVERTON/EVERTON HT/FT for 6 points at around 100/30 with Star SportsThursday -10.00 points (Friday no bet)What’s your view? CALL STAR SPORTS 08000 521 321
Add to Queue Ajit Pai, chairman of the U.S. Federal Communications Commission. FCC Next Article Image credit: Bloomberg | Getty Images Reporter 2 min read This story originally appeared on PCMag Angela Moscaritolo The only list that measures privately-held company performance across multiple dimensions—not just revenue. President Donald Trump’s newly appointed Federal Communications Commission Chairman Ajit Pai is serious about undoing current net neutrality regulations.During a speech at Mobile World Congress in Barcelona, Pai called Obama administration net neutrality regulations a “mistake” as he pledged to “embrace what works and dispense with what doesn’t.” “The torch at the FCC has been passed to a new generation, dedicated to renewal as well as change,” Pai said. Calling for a “light-touch Internet regulation,” he said the FCC is “on track to returning to that successful approach.”With former President Barack Obama’s support, Pai’s predecessor Tom Wheeler in 2014 pushed to classify broadband as a telecom service under Title II of the Communications Act rather than an information service. That gave the FCC more authority to regulate ISPs, and provided its net neutrality rules a stronger legal footing after years of court battles. The commission voted 3-2 in Feb. 2015 to approve the proposal.During his speech at MWC, Pai likened the move to “last-century, utility-style regulation.”Rules developed to tame a 1930s monopoly were imported into the 21st century to regulate the internet,” he said. “This reversal wasn’t necessary to solve any problem; we were not living in a digital dystopia. The policies of the Clinton Administration, the Bush Administration and the first term of the Obama Administration had produced both a free and open internet and strong incentives for private investment in broadband infrastructure.”He argued that current regulations “injected tremendous uncertainty into the broadband market,” and said that stymied growth.Going forward, “America’s approach to broadband policy will be practical, not ideological,” Pai said.Pai’s comments come after the FCC last week officially voted to exempt ISPs with 250,000 or fewer subscribers from the transparency requirements in the agency’s net neutrality rules. The move, the FCC says, will free these ISPs “to devote more resources to operating, improving and building out their networks.” 2019 Entrepreneur 360 List Apply Now » –shares March 1, 2017 ‘The torch at the FCC has been passed to a new generation,’ Ajit Pai said. FCC Chairman Pledges to Undo Net Neutrality Rules
The only list that measures privately-held company performance across multiple dimensions—not just revenue. Senior Editor Next Article Amazon Offers Employees $10K and 3 Months Pay If… 2 min read –shares Amazon’s shopping experience and Prime subscriptions rely heavily on the company’s ability to deliver orders extremely quickly. With that in mind, Amazon is now offering existing employees a big incentive to quit their job and become entrepreneurs focused on running a successful delivery business.As TechCrunch reports, Amazon is rolling out a new offer to its employees. In return for setting up their own product delivery service, the company will fund your start-up with $10,000 and pay three months of the salary they earned while working as an Amazon employee.The thinking here is to make the transition to delivery business as smooth and cost-free as possible, while covering those first few difficult months any business suffers by continuing to offer an income. It’s sure to prove very popular with employees who’d like a change of career or a bit more control over what they do every day at work.The incentives don’t just stop at cash, though. Amazon is offering a complete package which it calls the Amazon Delivery Service Partner program. It includes hands-on training, on-demand support, Amazon’s existing delivery technology, access to leased Amazon Prime-branded delivery vans, and discounts on fuel costs, insurance cover, and branded uniforms for delivery personnel to wear.Amazon doesn’t just want the former employee to drive a van, the company envisions each delivery partner growing to run multiple vans and employing lots of drivers. As a way of enticing such expansions, Amazon claims a delivery service running 40 vans is capable of earning $300,000 in profit every year. We can only imagine what a fleet of 40 vans delivering parcels all day means for Amazon’s profits.Anyone interested in becoming a Delivery Service Partner, regardless of whether they are an Amazon employee or not, should start by reading the brochure. After that, it’s just a case of creating an account and applying to the program. With one-day shipping set to become the norm for Prime, all applications are surely going to be looked upon kindly as Amazon attempts to grow its fast delivery options. May 13, 2019 This story originally appeared on PCMag Amazon …they quit their job and start a delivery business instead. Image credit: via PC Mag Add to Queue 2019 Entrepreneur 360 List Matthew Humphries Apply Now »
Source:https://www.hebrewseniorlife.org/body.cfm?id=2194&action=detail&ref=91 Reviewed by James Ives, M.Psych. (Editor)Feb 5 2019Why do some patients recover quickly after surgery, while others don’t? That is an important question when treating older frail patients suffering from aortic stenosis. Lead author Dae Hyun Kim, M.D., M.P.H., Sc.D., and principle investigator Director Lewis A. Lipsitz in the Marcus Institute for Aging Research at Hebrew SeniorLife explore this question in a paper published today in the Journal of the American Medical Association Internal Medicine.Aortic stenosis is a disease that more often than not develops late in life. It occurs in 2% of people over 65 and affects more men than women. The condition causes the aorta -the main artery that carries blood to the rest of the body – to constrict reducing blood flow from the heart. The disease poses a serious health threat to older adults, impacting function and quality of life at best, and at worse, threatening survival.With recent advances in surgical techniques, more patients are undergoing transcatheter aortic valve replacement (TAVR) or surgical aortic valve replacement (SAVR) to treat aortic stenosis. However, this study shows that serious risks of functional decline associated with surgery in older patients may well outweigh the benefits, and in particular, may not meet an individual’s goals for treatment. Although outcomes have improved over time, older patients continue to experience high rates of functional decline, particularly if they are frail before surgery. Many older patients, given the option, would often choose quality of life over longevity when making choices about their care.Earlier clinical trials and observational studies demonstrated improvement in functional status after TAVR and SAVR. However, these studies’ results may not be applicable to all patients. The studies also assessed functional limitations due to heart failure using disease-specific measures, rather than measures that looked at, for example, how patients were doing with activities of daily living, capturing a broader picture of how patients were fairing after surgery.Related StoriesStudy explores role of iron in over 900 diseasesHeart disease is still the number 1 killer in Australia, according to latest figuresTen-fold rise in tongue-tie surgery for newborns ‘without any real strong data’As this study shows, the functional status of a patient before surgery impacts post-operative outcomes, including rates of recovery and long-range functional status. After heart valve replacement, five paths were identified that describe how much patients recover. After minimally invasive transcatheter replacement, many patients did not have improvement in functional status. In particular, patients who were very frail before their procedures tended to have the worst outcomes. Patients who are stronger generally get open heart surgery, and after surgical valve replacement, patients generally did better. Discussion of expected recovery can help to inform patient centered decision making.According to Dr. Kim, “Although older patients with severe aortic valve stenosis undergo these procedures with expectation that their functional status improves, those with severe frailty, have functional decline. We emphasize the various processes of “how” they get to where they are at 12 months, and identified preoperative frailty, postoperative complications and delirium as strong predictors of functional decline, which can be potential targets for intervention.”
Reviewed by James Ives, M.Psych. (Editor)Mar 18 2019Remote monitoring keeps heart failure patients out of hospital, according to late-breaking findings from the RESULT trial presented today at EHRA 2019, a European Society of Cardiology (ESC) congress. The set-up is so effective that it has won reimbursement from the national health system.Study author Dr Mateusz Tajstra, of the Silesian Centre of Heart Disease, Zabrze, Poland, said: “The trial showed that remote monitoring of implanted defibrillators in patients with heart failure leads to prompt treatment when a problem occurs and prevents hospital admissions.”Around 1-2% of adults in developed countries have heart failure, a clinical syndrome characterized by breathlessness, ankle swelling, and fatigue. A high proportion of deaths in these patients, especially those with milder symptoms, occur suddenly due to ventricular tachyarrhythmias. Implantable cardioverter defibrillators (ICDs) or cardiac resynchronization therapy with a defibrillator (CRT-D) are recommended for some patients to correct potentially lethal arrhythmias and reduce the risk of sudden death.The number of heart failure patients with implanted devices is growing, and hospitalizations and outpatient appointments are common. This trial examined whether remote monitoring of the devices reduces the rate of hospitalization and death.A total of 600 heart failure patients with an ICD or CRT-D were randomly allocated to remote monitoring or standard care with face-to-face appointments. During the subsequent 12 months, the researchers recorded deaths from any cause and hospitalizations for cardiovascular reasons (the composite primary endpoint).The rate of the primary endpoint was significantly lower in the remote monitoring group (39.5%) compared to the standard care group (48.5%; p=0.032). When the researchers looked at the components of the endpoint separately, they found that the rate of all-cause mortality was similar between groups (6% versus 6%; p=0.9), whereas the hospitalization rate for cardiovascular causes rate was significantly lower in the remote arm (37.1%) compared to the standard arm (45.5%; p=0.045).Related StoriesImplanted device uses microcurrent to exercise heart muscle in cardiomyopathy patientsTeam approach to care increases likelihood of surviving refractory cardiogenic shockHome-based support network helps stroke patients adjust after hospital dischargeDr Tajstra said: “The death rate may have been similar between groups because the trial was not powered to show differences in survival alone.””It is important to stress that remote monitoring is not effective as a plug and play gadget,” he continued. “It will only be successful with a specified workflow to act on data retrieved from the devices, performed by a dedicated team.”In this study, remote monitoring was conducted from an office in the hospital, open for ten hours daily Monday to Friday, with three levels of staff. Two electrophysiology nurses checked device transmissions, contacted patients if further information was needed, and decided the course of action. Cardiology residents investigated suspected arrhythmias or device malfunctions and took action if indicated. A clinical cardiologist and electrophysiologist were available for difficult clinical situations.”Our pragmatic approach facilitated rapid clinical reactions to data from the devices,” said Dr Tajstra. “This prevented heart failure decompensation, where symptoms suddenly get worse and patients are often hospitalized. Even though there is no reimbursement for remote monitoring in Poland, our results have convinced the health authorities to pay for this service.” Source:https://www.escardio.org/The-ESC/Press-Office/Press-releases/Remote-monitoring-keeps-heart-failure-patients-out-of-hospital
Explore further ©2018 USA Today Distributed by Tribune Content Agency, LLC. Have you suddenly started getting porch snapshots from your Amazon delivery person? You’re not alone. Amazon has been quietly expanding a program over the past few months in which some of its delivery providers take a picture of where they put your package. The photo is included in the notice of delivery—either in an email or accessible in their Amazon account—received by shoppers so they know when it arrived and where to look for it.The new service helps with a common customer pain point when getting deliveries at home—finding where a package was left while they’re at work, especially if it was tucked behind a bush or flower pot to make it less visible to would-be thieves. It also has the advantage of forcing drivers to prove that they’ve indeed brought the package to a customer’s address.Amazon Logistics Photo On Delivery is “one of many delivery innovations we’re working on to improve convenience for customers,” Amazon spokesperson Kristen Kish said.The service also highlights the growing, if still small, reach of Amazon Logistics, the Amazon-controlled delivery network that is distinct from companies such as UPS, the U.S. Postal Service and FedEx with which Amazon contracts for the lion’s share of its U.S. deliveries.The Photo on Delivery program has existed for at least six months, but recently Amazon updated the delivery device and app used by delivery personnel in its Amazon Logistics delivery system—called Rabbit by drivers—so all Logistics drivers can take a photo. This has made the program more visible to a broader geographic swath of Amazon customers nationwide. It’s currently available at least in the Seattle, San Francisco and Northern Virginia metro areas and only comprises a small portion of U.S. deliveries.The photo notifications can also be kind of creepy, especially if customers don’t realize delivery drivers have been taking these photos. While part of the Amazon Logistics protocol since May, previously customer could only find the photo by searching on their Amazon account and order history.The feature rolls out as Amazon increasingly asks its customers to accept its constant presence in their homes, from a voice-activated speaker that records snippets of commands to a high-tech entry system that allows delivery personnel to enter their home. For those who’d prefer not to have photos of their doors or shrubbery sent to them, customers can opt out of the service on the Amazon website under the help and customer service tab.More: New Amazon Key lets the delivery driver leave packages inside the front doorMore: Curb how Facebook, Google and Amazon use your personal data in a quick privacy clean-upNot a fix for theftPhotos still don’t thwart thieves, an increasing problem as more shoppers take advantage of home delivery. In San Francisco, Annette Hurst recently got a photo of an Amazon package behind the planter at her front gate. Unfortunately, the text from the driver said it had been left on back porch.Not only that, but the box disappeared before she got home. On the positive side, getting a replacement was no problem and the photo seemed to help when she described the theft to Amazon customer service, she said.Amazon on Tuesday announced it was buying video doorbell maker Ring, which claims its product can deter package theft by allowing the homeowner to speak through the device’s speaker to warn thieves they’re on camera.More: Amazon agrees to buy Ring, maker of video doorbellsMore: Package theft hits nearly one-third of Americans. Is video surveillance the answer?You may be a frequent Amazon customer and never get a photo. The service is only active with packages delivered via Amazon’s Amazon Logistics delivery system, which include Amazon Delivery Service Providers and Amazon Flex drivers. You can tell them apart because Amazon DSP deliveries usually come in white vans while Flex drivers use their personal vehicles.The service isn’t available for packages delivered by the U.S. Postal Service, UPS, FedEx or OnTrak because they use their own delivery routing and notification software. Most Amazon deliveries use these.Amazon Logistics is Amazon’s small but growing network of its own contractors. Most of the drivers for Amazon Logistics are local companie with as few as 10 vans.The other type are short-term gig worker drivers who use the Rabbit app and deliver through the Amazon Flex program. They typically work three- to four-hour shifts.Photos taken while delivery shouldn’t have a life beyond the Rabbit device and app. Drivers upload them to Amazon’s servers and never have access to them, it says. Amazon said it does not use the photos for any purpose but to send them to the customers and sometimes by customer service to troubleshot delivery problems.As more Americans shop online, they’re finding the convenience of never battling a parking lot comes with unexpected trade-offs. Such as hunting for delivered packages. Another Amazon customer in San Francisco, Joanne Pearlstein, recently got an Amazon notification showing “a photo of my package … at my neighbor’s house.”In Oakland, Jack Whalen likes the feature because it tells him which of several obvious places a package might have been left at his house, on the porch at the side, a gate by the sidewalk or another gate that leads to the front door.”We have had packages left at them all,” he said.Amazon says orders shipped to an address marked confidential, such as a Wish List or Registry address, don’t include delivery photos to protect the privacy of the recipient or a surprise gift.Roiling the delivery watersThe service is somewhat similar to what has been available in transportation management systems for several years, said John Haber, CEO of Spend Management Experts, an Atlanta-based supply chain management consulting firm.As proof of delivery, firms will photograph pallets of freight before they are loaded, when they are loaded onto a vehicle and at the final destination. These photographs are typically used as not only proof of delivery but also for dealing with questions over damage claims.Offering it to consumers could be a game-changer for the package delivery world because Amazon isn’t charging for it.”For UPS and FedEx, getting a delivery confirmation signature costs about $5, it’s a huge revenue generator. If Amazon’s just offering it as standard proof of delivery, will the other parcel carriers have to match it?” Haber said. Citation: Why Amazon is sending you pictures of your front porch (2018, March 1) retrieved 18 July 2019 from https://phys.org/news/2018-03-amazon-pictures-front-porch.html Not at home? Amazon wants to come in and drop off packages This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
Provided by Swinburne University of Technology The transformative technology of 3-D printing is shaking up many sectors of industry, but it’s nothing compared to the disruption coming to construction. This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. Citation: Leading the way in 3-D concrete printing (2018, August 31) retrieved 17 July 2019 from https://phys.org/news/2018-08-d-concrete.html Professor Jay Sanjayan, Director of Swinburne’s Centre for Sustainable Infrastructure and Professor of Concrete Structures at Swinburne, leads a $1.3 million collaboration between seven Australian universities to develop 3-D printing of concrete.”Construction remains largely manual work, which makes it very expensive, and makes the global need for housing and infrastructure very hard to meet,” Professor Sanjayan says.”Construction is open to be disrupted by automation, and 3-D printing is one technology that can help.”Although 3-D printers are commercially available for manufacturing, there are significant differences between printing aeroplane parts and printing a house.”Rather than factory conditions, we have to print out in the weather,” Professor Sanjayan said.”Instead of a few kilos of materials, we have to handle tonnes. And although we don’t need the same accuracy as the aerospace industry, we have to trade that for low cost.”To address the challenges, Professor Sanjayan has explored two approaches. The interim option is ‘powder bed’ 3-D printing, in which the printer spreads a thin layer of concrete powder, then prints a water-based ‘ink’ that sets the concrete where the ink is applied.Layer by layer, the process is repeated. The challenge was to automate the collection and reuse of the vast quantities of unreacted powder that each print run generated, Sanjayan said.Powder bed was a good option for forming pre-cast sections of a building in a factory.”We can make very intricate structures. But it was not a process that could take place out in the wind and rain.”For on-site concrete printing, a machine is needed that extrudes liquid concrete, Professor Sanjayan said.”Here, the main issue is the concrete itself,” he says.The concrete must remain liquid inside the printer, but set as soon as it is printed to retain its shape and so the next layer can be applied.Traditional concrete doesn’t behave this way. Currently, the most common approach is to heavily dose the concrete with chemical retardants that keep it liquid, then heavily dose with accelerators as it is extruded. But this approach compromises the mechanical properties of the finished product.”We are coming up with new types of cement that have these properties intrinsically,” Professor Sanjayan says.Though he’s not able to disclose the details yet, one option is to use a geopolymer cement, a material made from an industrial waste called fly ash.”Architects already design everything by computer,” Sanjayan said. “Instead of printing their plans out on paper, with 3-D printing we’ll just press a button and the machine builds it—that’s the ultimate dream.” The world’s first 3-D printed reinforced concrete bridge starts to take shape Professor Jay Sanjayan is the Director of Swinburne’s Centre for Sustainable Infrastructure and Professor of Concrete Structures. Credit: Swinburne University of Technology Explore further
Karnataka prices, inflation and deflation Fuel prices have been climbing since August 16 Higher fuel prices may give States a ₹22,700-crore windfall Published on Fuel prices are the steepest in Maharashtra. File Photo – The Hindu Karnataka Chief Minister H D Kumaraswamy Monday announced the coalition government’s decision to cut petrol and diesel prices by Rs 2 per litre. The announcement comes in the wake of political pressure building against Kumaraswamy after Rajasthan, Andhra Pradesh and West Bengal governments reduced fuel prices.Andhra Pradesh Chief Minister N Chandrababu Naidu has cut taxes on fuel by Rs 2 and West Bengal Chief Minister Mamata Banerjee by Re 1. “Today, this coalition government has decided to reduce both petrol and diesel prices by Rs 2 per litre,” Kumaraswamy, who heads a JD(S)-Congress government, said while addressing an event here.Fuel prices have been climbing since August 16. The rising fuel prices have created a political storm with the Opposition launching a scathing attack against the Narendra Modi government, which has cited international factors for it.Fuel prices are the steepest in Maharashtra and the lowest in Andaman and Nicobar. COMMENT diesel fuel SHARE petrol Petrol price touches Rs 81 mark, diesel crosses Rs 73 in Delhi September 17, 2018 RELATED COMMENTS SHARE SHARE EMAIL Govt rules out excise duty cut as petrol, diesel prices hit fresh high