In This Issue.*  Cyprus was the market mover *  Regional manufacturing on the rise *  Euro takes a shot *  Singapore inflationAnd, Now, Today’s Pfennig For Your Thoughts!The dollar regained some ground…Good day…and welcome to Tuesday morning. We spent most of the day here in the Midwest digging ourselves from the weekend’s blanket of snow. We officially saw just over a foot of snow, which is a ton for the St. Louis area, but the overall conditions could be been  a lot worse. The road crews were prepared and the temps were very cooperative, so all in all, it was more of an inconvenience than a catastrophe. I think we can draw the same comparison to the agreement with Cyprus.As I had mentioned yesterday, the small island nation did manage to qualify for its bailout package, but not without certain conditions. Uninsured depositors and senior bondholders could/would face losses with the new banking structure. The initial market response was a lot more tame than I would have guessed as the euro was actually sitting on a small gain early yesterday morning. Market sentiment turned on a dime mid-morning and sent the euro down well over a full cent in a matter of minutes. I was looking at the bailout terms and didn’t see any changes that would cause such a stir, but it didn’t take long for the culprit to float toward the surface.It looks as though comments from Cypriot and European officials were enough to turn the tide. The remark that really threw the markets for a loop initially had suggested the Cyprus bank restructuring plan should be seen as a template for the rest of the eurozone and solving future banking problems. The official went on the say that imposing losses on depositors and bondholders must be a part of the bailout toolkit. The markets interpreted this as becoming the way all future dealings would be handled, so angst began to build rapidly. He later offered some clarification by saying Cyprus is a specific case with exceptional challenges and that adjustment programs are tailor made. In other words, he retracted his use of the word template.Unfortunately, the damage was already done at that point, so his clarifying remarks went in one ear and out the other. We also had another official say that leaving the euro must be considered, but the Cypriot president offered reassurances that the nation will remain in the euro. In any instance, the ECB is needed to keep the system liquid for those banks who have remained solvent. As of this morning, banks in Cyprus have not re-opened and there is no time table as to when that might take place. Analysts are already calling for GDP numbers to take a significant hit this year and into next year as a result of the bailout terms.Moody’s was also critical of the decision as they said the policy makers’ recent decisions will raise the risk of deposit outflows, capital flight, increased bank and sovereign funding costs, and broader financial market dislocation throughout the euro area in the future. I’m sure the Russians weren’t too pleased with the outcome either. Remember, they have an estimated $31 billion on deposit in Cypriot banks so losses on uninsured amounts will probably come to a significant figure. I don’t see much changing the euro selling bias in the near term unless we see the ECB come out and make serious references to the do anything it takes mantra.In the end, these are all knee jerk reactions and time will go a long way in the healing process. The fact that an endorsement of losses was made regarding the measures marks a change, but tough times will facilitate tough decisions. But this action is the first time that senior bondholders in a euro region bank will take losses, which will happen with the wind down of Cyprus Popular Bank. The fragile state of confidence took a major blow and its going to be interesting to see how the ECB will react.I think I’ve given more than enough attention to the whole Cyprus scenario, but that was pretty much all there was to talk about. We didn’t have any significant data reports to speak of globally, so investors didn’t have anything else to occupy their time. Here in the US, we only had the Chicago and Dallas area manufacturing reports to study yesterday. Both reports showed improvements from their last readings, but the Dallas region showed quite a pickup in March as it rose to 7.4 from 2.2. A rise in shipments and new orders were the biggest contributors to the rise.Texas manufacturers now have a more positive outlook than in recent months, but they have still expressed continued concerns about the remaining question marks surrounding policy, such as the sequester, as well as the state of the overall economy. According to the Chicago Fed, economic activity picked up in February and the current indications would point toward that trend continuing into March. As we look at what’s on tap for today, we’ll get some substantial reports to review. Right out of the gate this morning, it’s the February durable goods number.The headline number is expected to have a much better showing than the January result. The experts are calling for an increase of 3.9%, but it will be interesting to see what kind of impact the sequester is going to have on durable goods since government spending is one of the components. This report is very volatile to begin with, but I’m sure more emphasis is going to be placed on the ex aircraft and non-defense figure. I generally like to look at the components of durable goods, so that works for me. We also get a January housing price index that is expected to yield another modest gain.March consumer confidence is set for release right around the mid morning break time and is expected to show a fairly sizable fall. Since housing has dominated the economic data headlines, all eyes will be focused on the February new home sales number. Lastly, we get another regional manufacturing report, only this time in the Richmond area. So, there’s going to be plenty of data to sift through today.I feel like I’ve already covered the currency market by talking about Cyprus, but let’s take a look anyway. As I said in the beginning, the dollar actually began the day in the red, but it didn’t take long at all to turn in the other direction. I’m sure as you gathered, the euro was the worst performing currency as it fell just over 1% and dropped well into the 1.28 handle as the day progressed. Of the major currencies, the losses were mostly confined to the euro and the other European currencies. Except for the euro equivalents of the Danish krone and Swiss franc, the currencies of Norway and Sweden got sucked up into the selling pressures.The sell Europe theme proved too great for both currencies to escape and was no fault of their own. We didn’t see any major economic data that would have justified their nearly 0.50% fall, so traders just sold everything. A Swiss policy maker reiterated the fact that the SNB’s currency cap vis a vis the euro is essential since there is no threat of inflation at all. I think they just wanted to throw that out there just in case traders were wondering given the events in Cyprus. The Brazilian real finished in negative territory but only by a fraction of a percent. It also marked the third day that it traded weaker than 2 per dollar as speculation mounts that the central bank won’t act to strengthen the currency since economic growth forecasts had been lowered. The government seems to be comfortable with inflation at the moment, so they don’t have an incentive to encourage a stronger currency. It appears the Brazilian government is most comfortable with an exchange rate not too far away from 2 in either direction.If we switch gears to those currencies with a gain yesterday, the Singapore dollar took the top prize. We usually don’t see that too often but its 0.35% gain was the most in over two weeks as February inflation rose more than forecast to an eight month high of 4.9%. Singapore uses its exchange rate instead of interest rates to deal with inflation and monetary policy, so higher inflation would point toward the government being comfortable with more currency appreciation.The Japanese yen ended the day in positive territory as fallout from safe haven buying pushed it up nearly 0.25%. The Australian dollar and Canadian dollar both finished with marginal gains, so it wasn’t a total rout in the currency market. We also saw the Mexican peso hit an 18 month high as January economic growth surprised on the upside. The positive report was enough to stave off selling pressures from risk aversion resulting from the Cyprus deal.The precious metals saw volatility for yet another day as silver actually finished the day higher while gold closed above $1,600 but with a $3 loss on the day. As it stands currently, gold is clinging to a slight gain for March and if that holds, it would be the first monthly gain since September. These numbers can change in a heartbeat, but investors have increased their bullish bets by 63% to 70,193 net long contracts, which is the biggest jump since September 2008. Hopefully this marks a change of fate for gold.As I came in this morning, the bleeding has stopped for the euro as its up slightly this morning after an ECB member said they will do everything it can within the terms of its mandate to preserve the euro. It didn’t take long for that card to be placed on the table, but it did the job in terms of calming some fears. We also saw another member say the reorganization for the Cyprus banking system will not serve as a model for other countries in the euro area. A day later and after some of the dust settled, the dollar is marginally weaker this morning, but focus has now shifted toward the US economic data this morning.Then there was this.I saw an interview by Reuters with Olivier Blanchard, the International Monetary Fund’s chief economist, who said that expanding the authority of major central banks could make them too powerful. “If you think now of central banks as having this much larger set of responsibilities and this much larger set of tools, then the issue of central bank independence becomes much more difficult,” Blanchard said. “Do you actually want to give an independent central bank the right to choose loan-to-value ratios without any supervision from the political process? Isn’t this going to lead to a democratic deficit in a way where a central bank becomes too powerful?”To recap.News about the Cyprus bailout agreement dominated all of the financial markets. What began as a muted reaction soon turned in the wrong direction as the euro dropped over 1% and was trading well into the 1.28 handle. Certain account holders and senior bondholders will be faced with losses, which is a departure from how previous bailouts were handled, so investors speculate as to whether this will become the new protocol. Their regional manufacturing reports showed more progress and we’ll see a fair amount of data today. The Singapore dollar was the best performing currency as inflation increased more than expected.Currencies today 3/26/13. American Style: A$ $1.0475, kiwi .8353, C$ $.9801, euro 1.2874, sterling 1.5181, Swiss $1.0545. European Style: rand 9.2489, krone 5.8205, SEK 6.4971, forint 236.62, zloty 3.2411, koruna 20.0153, RUB 30.8633, yen 94.30, sing 1.2411, HKD 7.7595, INR 54.3750, China 6.2715, pesos 12.3336, BRL 2.0128, Dollar Index 82.84, Oil $95.30, 10-year 1.93%, Silver $28.80, Gold $1,598.75, and Platinum $1,570.25.That’s it for today.It turned out to be a very busy day on the trade desk yesterday, so I still have a few things that carried over to finish up before I focus on stuff for today. The local news was making light of the fact that we’re going to have a white Easter since we’ll still have some snow on the ground this weekend. I guess it makes it a little easier to spot those colorful eggs but it might also raise some questions about the bunny’s footprints in the snow. For me, it doesn’t get any better than Reese’s peanut butter eggs. I can eat them by the handful, so it takes a good deal of will power on my part. On that note, that’s it for today. Until tomorrow, Have a Great Day!Mike Meyer Assistant Vice President EverBank World Markets 1-800-926-4922 1-314-647-3837 read more

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In This Issue. *  Currencies rally on weak labor report. *  Gold also adds to value on weak data. *  Jobs data is confusing. *  Lacker admits to an asset price bubble! And, Now, Today’s Pfennig For Your Thoughts! Jobs Data Disappoints! Good Day!  And a Marvelous Monday to you! Well, this morning seems to be an extension of Friday’s activity once the Jobs Jamboree’s dust had settled. The dollar is softer than a sigh, and believe it or don’t, the 10-year Treasury is rallying alongside yen! Strange bedfellows I would say, but they go way back in the old “flight to safety” trading, although I always questioned why either one of these investments would be considered “safe”.  It’s another touch and go today for me, I almost dropped coming into work like a bad habit this morning, but. Here I am! Besides I just couldn’t do that to Mike. Especially since I’ll be gone the next two weeks after this Friday. There’s a trip to the Orlando Money Show thrown into that time away, so, not to worry, I’m not going away for good. not yet, any way! HA!  Charlie Daniels is playing the South’s Gonna Do It Again, on the IPod, and that got me moving a bit, so let’s get to the rest of the letter! Well. How about that Jobs Jamboree on Friday? In case you haven’t seen any of the numbers, payrolls rose only 74,000 in December.  And you know what was even more telling of the slowdown in the economy than that nascent rise in jobs created? The Avg. Workweek fell  by .2% to 34.4 hours worked each week by U.S. workers. I’m not sure I can color this any differently other than to say the economy optimism that the Fed Heads have is unwarranted at best! Now when I saw the Unemployment Rate drop on the screens, I stood up and said to everyone, “Just watch, the media is going to focus on the Unemployment Rate drop and not the small number of jobs added.”  And that’s just what they proceeded to do all day long.  Yes, all day long they talked about how the Unemployment Rate had dropped t o 6.7%…  Ahem.  This is going to continue to show a drop in the Unemployment Rate, folks, as it’s more of a reflection of those giving up looking for work.   Well, as I’ve explained to you for years now, once the unemployment benefits end, the person is dropped from the “unemployment calculations”.     So, the drop in the Unemployment Rate was more a reflection on the large numbers of unemployed dropping off the books.    Now, Rex Nutting at MarketWatch says people aren’t becoming discouraged about finding a job.  Well, that may be. I know years ago when I was unemployed, I wasn’t worried that I wouldn’t find a job. until months later and I had no job! And then there was this too about the Jobs Jamboree. The Labor Participation Rate fell to 62.8% from 63%… That brings it back to a 35-year low.  So, better put away all those banners and balloons, confetti and champagne, it appears that the economic boom for the U.S. is not ready for prime time. And talk about a damaging report to the dollar! YIKES! The dollar was put on the chopping block no sooner than the Jobs numbers appeared, and remained there all day, through the overnight sessions last night.  Here’s the skinny on why that happened. The markets saw in the jobs data, what I’ve been saying all along, that the economy isn’t strong enough to drop the stimulus, and so their (the markets) thoughts changed from tapering to holding bond buying steady. And that’s not good for the dollar, as we have all come to learn since the first announcement of debt monetization, aka Quantitative Easing, aka bond buying, aka crack cocaine for the economy, was made in March of 2009. That’s right, we’re heading toward the 5-year anniversary of Fed Meddling. It’s like the economy is married to Quantitative Easing, so we need to make sure we buy them some silverware, for that’s the traditional gift for 5 years of wedded bliss. Oh, and just to point something out to everyone that thinks there’s no inflation. 5 years ago, the price of gas was $1.75 a gallon.  Happy Anniversary baby, got you on my mind. Betcha you had lost track of how long the Fed has been monetizing the debt, eh?  So, anyway, that’s what has the dollar on the hot seat. The euro, A$, kiwi, and a host of other currencies all took liberties with the dollar, as well as Gold, which added $10 on the news that only 74,000 jobs were created. I have to wonder just what the heck is going on with these labor surveys, don’t you? I mean the ADP report just two days earlier said that the economy added 238,000 jobs, and they supposedly use the same methodology that the Bureau of Labor Statistics (BLS) use.  Now, one bad apple don’t spoil the whole bunch, girl. And one swallow doesn’t make a summer, so one bad employment report doesn’t mean we’ve slipped backwards. What it does point out is the economy is uneven in its recovery, which is the same thing as saying the Fed is overly optimistic about the economy. Treasuries rallied on the labor data, as the threat to continued tapering weakened. The 10-year lost 11 Basis points to 2.85%, That’s a HUGE rally folks! I can think back to the days when all the bond trading centered around the 30-year. You never saw days like that back then. But there it was right before us last Friday. the 10-year yield falling from 2.96% to 2.85%… And remember when the yield falls on a bond, the price of the bond goes up! And that’s a rally! I looked up to the Bloomberg this morning, as saw a headline to a story that read, “Euro Set To Decline as U.S. Economy Advances”.  You know, before people write stuff like this, they should do a little research. Just because the U.S. economy is doing better than the Eurozone economy is not a recipe for dollar strength VS euro. The best year the euro has had in the last 11 was 2003, and the Eurozone had a nascent recovery going on, while the U.S. economy was plugging along just fine.   The thing to think about here when stuff like that happens is that when the U.S. economy is doing well, personal consumption is going strong. Spending, spending, and more spending, running up the Trade Deficit, and the personal credit, which as we now know, is bad medicine. OK. The Aussie dollar (A$) is back to trading above 90-cents this morning. The had some second tier data last night from Home Loan and Job Ads, which were both bang on with forecast and recent prints. The Big Kahuna report for the A$ this week comes Thursday (Wed night for us) in their Employment Report and Leading Indicators. I think traders have pushed the currency appreciation envelope for the A$ ahead of its time. In other words, watch out for a sharp pull-back should the data this week disappoint. The Canadian dollar / loonie, got taken to the woodshed on Friday, even with most of the other currencies rallying VS the U.S. dollar. The problem for the loonie came in the form of a rotten jobs report. Canadian employment dropped 45,900 in December, after adding 21,600 in November. Their Unemployment Rate rose to 7.2% from 6.9%… This report was clearly disappointing, folks, as the recent monthly reports were pretty much in line with what was expected, but December’s report strayed from that trend. As I said the other day, it appears to me that the traders want to take the loonie to 1.10 or 91-cents in dollar terms. It’s .9155 this morning, so they’re almost there.. The New Zealand dollar / kiwi is ratcheting higher and higher in value, and soon it will be nearing the level where it has previously touched right before the Reserve Bank of New Zealand (RBNZ) Gov. Bollard goes bonkers on the currency and gets it jawboned back down in value. Now, we all know, that is unless you skipped this part the 100 times I’ve talked about it before, that the RBNZ will be hiking rates in 2014, maybe even as soon as this month, but most likely by March. Bollard can’t have kiwi soaring in value before he hikes rates, for that could send the currency to the moon, so I fully expect some jawboning coming from Bollard very soon. But that’s OK, you can use his attempt to weaken the currency ahead of the rate hike, as an opportunity to buy at a cheaper level! The Chinese renminbi was allowed to appreciate to a 20-year high VS the dollar overnight. Here’s a thought on why I think continued strength in the renminbi / yuan should be viewed. In the past, the Chinese have used a combination of buying dollars and Treasuries to keep a lid on the renminbi / yuan. But do you really think the Chinese are interested in buying Treasuries with the Fed backing of their bond buying?  I don’t think so. I see where Norway is going to enter into the bond issuance arena with $650 million or (4 Billion krone) of their 10-year Norwegian Gov’t Bond. The krone hasn’t really been a good performer the past year, and that will make selling the bonds a challenge, but one that should be easily overcome given the Fundamentals of Norway, their AAA rating, and the cheapest cost of credit derivatives on default, are two items that should easily outweigh the weaker krone. My colleague and friend, Jack Stapleton stopped by my office on Friday, and said, “WOW! That was a great story you had in the Pfennig this morning, about how the Norwegian public pension fund now has 1 million krone for each person, when are the markets going to wake up and smell the coffee that Norway’s fundamentals are the best?”  I said, welcome to my world, Jack! This is the stuff that makes people like me lose their hair, but one day, Alice. To the Moon! Before I head to the Big Finish today. I wanted to say a thing or two about Bitcoin. I know you all have been wanting me to come out with my thoughts on Bitcoin. All I’ll say right now, is that it appears that Bitcoin is now being used as it was intended to be, as a payment currency, and store of wealth, not as it was being used as a commodity that goes up and down in price.  The Big Boss, Frank Trotter, tells me the payment system is top notch, and that gives me optimism, but. there’s the regulation that could come that scares the bejeebers out of me, and now there are more of these digital currencies coming out. That’s going to become confusing folks. Be careful. For What It’s Worth. Remember when the “maestro” (Alan Greenspan) became known as “Bubbles Greenspan”? That was a huge letdown for the “maestro”.  And from that point on, the Fed Heads were determined to not mention the word “bubble” ever again.  Even new Fed Chair, Janet Yellen, said a month ago that she saw no asset / stock market bubble. And that really got the stock market participants all lathered up. For if she saw no bubble, that meant she wouldn’t be looking to pop it! Well, over at zerohedge.com they had a story on Fed Head Lacker, who slipped up last week, and said that, “he was reluctant for the Fed to prick asset-price bubbles”  Well looky there! A Fed Head admitted that there was a stock market bubble. Here’s what they had to say about it over at zerohedge.com, “Well there it is. There are asset bubbles? But Lacker – who has been anti-QE to some extent – knows that if the Fed moves to actually do anything about it (other than jawbone), it’s all over. Perhaps as more realize the transition from a Bernanke Put to a Yellen Collar has occurred, there will be no need to jawbone any longer. But jawbone on they will as open-mouth operations try to persuade investors that strong forward guidance is just as effective as printing 100s of billions of USDs.” Chuck again. I knew in my heart of hearts that the Fed Heads all knew what was going on in the stock market, and what was fueling it, they just couldn’t admit it because if they did, they would have to accept the blame. I still say that the “unwinding” of all the stimulus is going to be interesting folks.  and I don’t mean in a good way! To recap. The Jobs Jamboree was very disappointing last week, and confusing on top of that, as it was quite different than the ADP report that printed two days earlier. The Unemployment Rate is a joke, don’t pay attention to that data behind the curtain! The dollar got sold on the labor data, and is still getting sold this morning. Even yen is rallying alongside Treasuries!  Currencies today 1/13/14. American Style: A$ .9055, kiwi .8360, C$ .9155, euro 1.3670, sterling 1.6425, Swiss $1.1075, . European Style: rand 10.7145, krone 6.1165, SEK 6.4890, forint 218.60, zloty 3.0405, koruna 20.0205, RUB 33.12, yen 103.45, sing 1.2645, HKD 7.7545, INR 61.51, China 6.0950, pesos 13.01, BRL 2.3460, Dollar Index 80.60, Oil $92.07, 10-year 2.85%, Silver $20.09, Platinum $1,438.13, Palladium $739.63, and Gold. $1,247.32 That’s it for today. Well, yesterday was my oldest son, Andrew’s Birthday. 32 years ago, we had 9 inches of snow fall while he was being born, and I had to navigate my way home late that night.  Happy Birthday Andrew!  What a busy week sports-wise! The Blues played two games (won one, lost one) the basketball teams at Mizzou and St. Louis U both won, and then we had the 4 NFL playoff games. You can bet that I didn’t leave my recliner much! Went with a good friend to my old childhood neighborhood on Saturday morning for breakfast. It’s pretty strange going back to South St. Louis, it used to feel so friendly when I was a young man, and now it feels cold, aloof, and scary at times. I showed my friend the house I grew up in, it sure looked sad. Well, I made it through the morning so far. so I guess I’m good to go!  It should be a busy week, so finish your coffee and go have a Marvelous Monday! Chuck Butler President EverBank World Markets 1-800-926-4922 1-314-647-3837 read more

— – Recommended Links A Strategy That Pays 2x More Than Your Social Security Benefits The average person collects $1,180 per month in Social Security benefits. We’ve recently uncovered an investment strategy that can pay 2x more than that… and potentially much, much more. Like David Williams, who used this strategy to collect $6,560 in a day… and Wesley McCrea, who skyrocketed his monthly income to over $5,000 using a twist on this strategy. Click here to see how to supersize your income with the click of a button in the next 60 seconds. • Like Soros, Rogers thinks the Brexit will trigger a global financial crisis… Yahoo! Finance reported: The UK’s decision to leave the European Union will lead to an economic crisis more severe than what the world faced in 2008, according to legendary investor Jim Rogers, chairman of Rogers Holdings. “This is going to be worse than any bear market you’ve seen in your lifetime.” Rogers went on to say the world financial system is more fragile today than it was before 2008: 2008 was bad because of debt. The debt all over the world is much, much higher now. Like Soros, Rogers is shorting U.S. stocks to profit from the coming crash. • For months, we’ve been saying that the global economy is drowning in debt… Corporate debt in emerging markets has jumped five-fold over the past decade. Companies in the U.S., Europe, and Japan are also borrowing like there’s no tomorrow. Last year, U.S. corporations borrowed a record $1.5 trillion in the bond market. According to Standard & Poor’s, U.S. corporations have nearly twice as much debt on their books as they did six years ago. • E.B. Tucker agrees that we’re on the verge of a serious financial meltdown… Like Soros and Rogers, E.B.’s “crash-proofed” his portfolio. He’s encouraged readers of The Casey Report to own physical gold. As regular readers know, gold is the best way to protect your wealth from financial chaos. That’s because it’s real money. It’s preserved wealth for centuries because it has a rare set of qualities: It’s durable, easily divisible, and easy to transport. Its value doesn’t depend on any government or central bank. As you probably noticed, the price of gold soared following the Brexit. It’s now up 29% on the year and at its highest price since March 2014. E.B. also recommended two gold stocks this year. One has surged 62% since March. The other is up 64% since April. Finally, E.B. has shorted two of America’s most vulnerable companies. One of these shorts has returned 22% since February. The other has returned 9% in less than a month. You can invest alongside E.B. by signing up for a risk-free trial of The Casey Report. If you sign up today, you’ll receive The Casey Report for 50% off the regular price. To learn how, watch this short presentation. In this video, E.B. will also explain how the coming crisis could cause stocks to plunge 50%…trigger a tidal wave of bankruptcies…and even lead the government to outlaw cash altogether. We encourage you to share this video with your close friends and family. It’s one of the most important messages we’ve ever shared. Click here to watch. Chart of the Day A banking crisis is underway in Italy. Today’s chart shows the performance of UniCredit S.p.A. (UCG.MI) and Banca Monte dei Paschi di Siena S.p.A. (BMPS.MI). UniCredit is Italy’s biggest bank. Banca Monte is the country’s third biggest. You can see UniCredit’s stock has plunged 69% over the past year. Banca Monte is down 85%. These are huge declines for such a short period. Still, they could fall much further if we enter a new global financial crisis, as Soros and Rogers predict. That’s because Italian banks are incredibly fragile. The Wall Street Journal reported on Monday: In Italy, 17% of banks’ loans are sour. That is nearly 10 times the level in the U.S., where, even at the worst of the 2008-09 financial crisis, it was only 5%. Among publicly traded banks in the eurozone, Italian lenders account for nearly half of total bad loans. According to The Wall Street Journal, stress at these institutions “could threaten Italy’s stability and, potentially, even that of the EU.” Soros is also worried about the rest of Europe. Last Thursday, he said Europe’s banking system never fully recovered from the financial crisis. He warned that Europe’s bank will be “severely tested” as a result of the Brexit. This is another reminder to stay away from bank stocks–especially European ones—at this time. Shocking Footage From Outside the Door of Our Affiliate’s Building You’ve got to see this… It’s footage from Baltimore, MD, right on the front doorstep of our affiliate’s headquarters. And you won’t believe what they caught this woman (named Charro) doing on camera… It’s really one of those things you HAVE to see with your OWN two eyes. Click here to see the UNCENSORED CAMERA FOOTAGE. Two of the biggest names in investing agree with what we’ve been saying for months… The world is racing toward a full-blown financial crisis. As Dispatch readers know, Great Britain voted to leave the European Union (EU) on June 23. The historic event, which the media is calling the “Brexit,” rattled financial markets from Tokyo to New York. It triggered a worldwide selloff that erased $2.1 trillion from global stocks on Friday, June 24. It was the worst day in history for the global stock market. The panic spilled over into Monday when another $930 billion in value vanished from the global stock market. Then, stocks rallied. The S&P 500 rose 5.1% from Tuesday to Friday. The STOXX Europe 600, which tracks 600 large European stocks, jumped 7.6% over the same stretch. And the FTSE 100, Britain’s version of the S&P 500, soared 10%, its best four-day stretch in eight years. Some in the financial media saw this as proof that investors overreacted to the Brexit. We, on the other hand, cautioned readers. We explained why Friday’s bloodbath was a taste of what’s to come. And as we mentioned, we’re not the only ones who think so. Two of the world’s top investors agree that a major global financial crisis is right around the corner. • George Soros thinks the Brexit pushed the world closer to a major financial crisis… You may have heard of Soros. He’s probably the world’s most famous investor after Warren Buffett, who runs Berkshire Hathaway. Soros is a household name because of his incredible track record. From 1969 to 2001, he generated average annual returns of 20%. He nearly beat the S&P 500 2-to-1 during that time. In January, Soros essentially came out of retirement to profit off a coming financial disaster. As we explained in May, he made a giant bet on gold. According to Bloomberg Business, he bought bullish options contracts on over one million shares in the SPDR Gold Trust (GLD), which tracks the price of gold bullion. He’s also loaded up on gold stocks, which typically skyrocket during a gold bull market. And he shorted, or bet against, U.S. stocks. And as we’ll show you later in this issue, Casey Report editor E.B. Tucker is using this exact strategy right now to produce big gains for his readers. • Soros says we could see a repeat of the 2008 financial crisis… Bloomberg Business reported on Thursday: Britain’s decision to leave the European Union has “unleashed” a crisis in financial markets similar to the global financial crisis of 2007 and 2008, George Soros told the European Parliament in Brussels. “This has been unfolding in slow motion, but Brexit will accelerate it. It is likely to reinforce the deflationary trends that were already prevalent,” the billionaire investor said on Thursday. • Soros also thinks the Brexit could rip Europe apart… That’s because it could trigger a domino effect of other countries leaving the EU. As we explained last week, politicians in France, Italy, and the Netherlands are now demanding “the right to choose” to leave the EU. According to Soros, the EU could be finished if another country exits. Bloomberg Business reported: “Will disaffected voters in France, Germany, Sweden, Italy, Poland and everywhere else see the EU benefiting their lives?” Soros asked. “If the answer is yes, the EU will emerge stronger. If the answer is no, it will eventually blow apart.” • Jim Rogers also thinks “you should be very worried”… Rogers is another investing legend. During the 1970s, he ran the Quantum Fund with Soros. The fund made a staggering 4,200% in 10 years. It nearly beat the S&P 500 10-to-1 over that stretch. Like Soros, Rogers thinks the EU is doomed. Yahoo! Finance reported last week: Brexit’s win will also embolden other countries to leave the EU and separatist movements to break up a few states, Rogers predicted. That could make the world to look significantly different in just a half a decade. “The EU as we know it will not exist,” he said. “The euro as we know it will not exist.” • Regular readers know we feel the same way about the EU… For years, Casey Research founder Doug Casey has said the EU was destined to fail: The EU itself is a completely artificial and dysfunctional union. The Swedes are very different from the Sicilians, and the Portuguese very different from the Austrians. These people have little in common besides a history of fighting with each other… Centripetal force will eventually tear it apart, with the EU as a whole disintegrating long before its individual parts—France, Italy, Germany, the UK, etc.—fall apart. Regards, Justin Spittler Delray Beach, Florida July 6, 2016 We want to hear from you. If you have a question or comment, please send it to feedback@caseyresearch.com. We read every email that comes in, and we’ll publish comments, questions, and answers that we think other readers will find useful. read more

America’s “Shadow President”—and how he’s getting rich(er) [not who you might think] Billionaire Peter Thiel has been spotted in Trump’s “NY White House” and has even been called the “Shadow President” for the influence he wields. He is a heavy backer of a new type of currency that’s already making some people very rich. This has been an opportunity for the average guy to generate “small fortunes,” writes The Economist. $24,955,415,087 have left traditional currencies and gone into this new type of currency. We’ve spoken with dozens of insiders about this phenomenon… including the world’s top investor in this space and members of the “Fed.” Click here for the full story. Recommended Link — Justin: I totally agree, Doug. I’ve also noticed that these people don’t really want equality for all. They want equality for some. It’s incredibly hypocritical. Doug: It’s actually all about envy. Envy is a vice—it’s different from jealousy, another vice. Jealousy is a vice that says, “You have something, I want it, I’ll take it away from you.” Envy is even worse. It says, “You have something that I want, I can’t get it, so I’ll destroy it, so you can’t have it either.” These people aren’t just misguided. They’re mentally ill. They’re actually evil. But they’re not just taken seriously, they’re treated with respect. And they’re endemic to society at this point. This is cause for great pessimism. Justin: It’s certainly not the only reason to be pessimistic, either. But that’s it for today. Thank you for taking the time to speak with me. Doug: You’re welcome. Justin’s note: Doug and his team just released a new video presentation that explains a unique way to get paid every month on autopilot. Thanks to a brand-new initiative started by the US government, you can potentially earn an extra $10,000 to $40,000 over the next three years. If you’re interested, you can watch it right here. But it’s actually gone beyond that. It’s become fashionable now to hate white males in particular. They say that women, blacks, Muslims—pick a group, any group except for white males—are all discriminated against. I would say, in the first place, there’s absolutely nothing wrong with discrimination in itself. Discrimination can be rational. Discrimination can be intelligent. It’s often necessary. It’s a matter of what you’re basing your discrimination on. You have to discriminate between things that will help you and things that will hurt you. And that can include other groups or even other people. It’s a genetic trait to be more favorably inclined towards people like yourself. Tribes usually identify themselves as “the people”, and everybody else is “other”, a potential enemy. It makes sense to recognize facts of reality. Different ethnic and religious groups have different beliefs, customs, and ethics. Until you can get to know them as individuals it makes sense to generalize. Recommended Link Forget the stock market – here’s where the big winners are Less than 1% of investors have probably heard of this tiny market. But over 100 of these investments returned triple digits in 2016. They’ve delivered historical gains over 413%, 930%, and even a rare 1,927%. You won’t find these plays on the New York Stock Exchange. But you can get in on the action from your home computer in a matter of minutes, and we guarantee that you’ll have the chance to make 1,000% total gains. Get more details here. Justin’s note: It was the worst article I’ve ever read. The piece was titled “Could It Be Time To Deny White Men The Franchise?” In it, the author argued why white men should no longer be allowed to vote. As soon as I finished reading the article, I sent it to Casey Research founder Doug Casey. He replied: “Fascinating. At first, it seemed like a comedy piece. But it’s clear she’s serious.” A few days later, Doug and I chatted about the article. Below is a transcript of our conversation. We hope you enjoy it. (The Huffington Post has since pulled the original article down claiming that the author “cannot be traced and appears not to exist.” Luckily, we were able to track down the original article. You can read it here.) Justin: Doug what did you think of that Huffington Post article I sent you? Doug: I read the article when it was still up, and it was absolutely incredible. That’s not just a figure of speech. I mean it beggared belief. I urge everyone reading this to hit the link. These people don’t seem to realize that they’re actually parodies of themselves. I mean, they’re always talking about racism and xenophobia and sexism and ageism and the like. They don’t look at people as individuals, they look at people as members of classes. That’s why it’s called “identity politics”—you don’t identify as an individual, but as a member of a group or a class. And, of course, their philosophical background is cultural Marxism. Because, you know, one of the central points of Marxism is that people are all members of classes. — But it goes deeper than that with this insane article. What these people really hate is Western Civilization and everything it represents. The question is: Why do these people think it’s virtuous to discriminate against white males? White males are largely responsible for Western Civilization. Which is shorthand for things like individualism, free markets, free thought, science, literature, industry, and about everything that’s allowed mankind to rise out of the muck and look to conquer the planets. That’s what this article really hates. So, it’s fascinating not so much that somebody wrote an article as stupid as that. But that a large outlet like Huffington would actually publish it. It’s a sign of how degraded things are. I’d say the author suffers from a serious psychological aberration. The editor who posted it is clearly a graduate of some PC US university, probably a major in Gender Studies. It’s too bad that they took it down because it should be put on display, as a warning. Unless they repost it in The Onion. read more

By Lois Zoppi, BAMay 24 2019Reviewed by Kate Anderton, B.Sc. (Editor)Scientists from the University of Geneva have discovered that Swiss men have the worst quality sperm in Europe, with 17 percent of Swiss men being considered “sub-fertile” in accordance with guidelines from the World Health Organization (WHO).Lukiyanova Natalia frenta | ShutterstockThe study aimed to assess the quality of semen and male reproductive health in Switzerland. It employed a nationwide, cross-sectional study of 2,523 young men aged 18 to 22 from all areas of Switzerland who were recruited into the army.The semen volume, the concentration of sperm, and the sperm’s motility and morphology were analyzed, along with the anatomy of the genital area and testicular volume being recorded.‘A critical state’The average sperm count for a European man ranges from 41 to 67 million sperm per milliliter (ml), but this new study revealed that Swiss men have an average sperm count of just 47 million per ml.Andrologist Dr. Alfred Senn co-authored the study and said, “the sperm quality of young men in Switzerland is in a critical state and their future fertility will in all likelihood be affected.”In contrast, men from Lithuania, Estonia, and Spain are thought to have the highest quality sperm, but as research of this nature is carried out via different methods in each country, it is hard to compare sperm quality directly between European countries. For the first time, a systematic sampling among young men has confirmed that semen quality is affected on a national level. The median sperm concentration measured is among the lowest observed in Europe.” Results showed that 43 percent of the men included in the study had less than 4 percent morphologically normal sperm cells, and 62 percent had “one or more semen parameters that fell below the WHO thresholds.”Additionally, less than 40 percent of sperm cells were motile, and overall, just 38 percent of Swiss men had sperm concentration, motility, and morphology values that were equal to the thresholds set out by the WHO.“Low semen parameter values can reflect a man’s fertility, when a combination of values are low, a man’s ability to conceive is at risk,” explained lead author of the study Rita Rahban, who was involved in realizing the research explained:“It’s important to understand that the time needed to conceive increases significantly if a man has a sperm concentration below 40 million sperm per ml.”The study also gathered data on testicular cancer incidence rates, taken from regional Swiss registries, and it was discovered that a higher proportion of men with a low sperm count had been exposed to in utero maternal smoking.Testicular cancer cases have ‘grown steadily’Links have been made previously between an increased incidence in testicular cancer and lower quality semen. Scientists believe that altered testicular development at the fetal stage is likely to be the cause of poor quality sperm and its links with testicular cancer.When analyzing testicular cancer incidence, results showed that the incidence rates had increased from 7.6 cases per 100,000 men in 1980, to 10.4 in 2014.“For 35 years, testicular cancer has grown steadily to over 10 cases per 100,000 men, which is very high compared to other European countries,” Professor Nef said.“Sperm quality is generally lower in countries where the incidence of testicular cancer is high.”Countries with better sperm counts including Spain and Estonia were also found to have lower testicular cancer incidence rates, but a definitive link between testicular cancer and a lower sperm count as a consequence has yet to be found.Between 2002 and 2010, the number of couples experiencing infertility and seeking assisted reproductive technologies has doubled from 3,000 to over 6,000 a year.Environmental and lifestyle factors could be responsibleProfessor Nef said that several European laboratories have hypothesized that environmental and lifestyle factors could be responsible for a significant and surprising decrease in sperm counts in industrialized countries.These laboratories have been investigating whether pesticides, smoking, alcohol consumption, taking drugs, or being overweight could be responsible for causing the low sperm counts in Europe, but the exact reasons have so far evaded researchers.The study concludes with a statement saying that further and more refined studies should be carried out to improve the understanding around environmental and geographical factors that may affect fetal development and semen quality in later life. Additionally, more studies are needed to determine how severely compromised Swiss men’s fertility is.Source:Rahban, R., et al. (2019). Semen quality of young men in Switzerland: a nationwide cross‐sectional population‐based study. doi.org/10.1111/andr.12645. read more

Citation: European telecoms’ dilemma: Huawei or the highway? (2019, February 3) retrieved 17 July 2019 from https://phys.org/news/2019-02-european-telecoms-dilemma-huawei-highway.html Getting it right will have big consequences as 5G networks are the next milestone in the digital revolution, bringing near-instantaneous connectivity, vast data capacity and futuristic technologies.No operator wants to be left behind, and neither do governments who see 5G technology as a future key driver of economic growth.China’s Huawei has quietly become a leading supplier of the backbone equipment for mobile networks, particularly in developing markets thanks to cheaper prices.Spearheading cutting-edge 5G equipment has also seen it make inroads into developed markets.However, a growing number of Western states are turning their backs on Huawei, fearful that its equipment could be a Trojan horse for Beijing’s intrusive security apparatus as Chinese laws require its firms to cooperate with intelligence services.Huawei strenuously denies its equipment could be used for espionage.While most European governments are trying to make up their minds, mobile operators must make their own choice, and it’s a tough one.Several operators have already begun tests with Huawei equipment, such as Bouygues Telecom and SFR have in several French cities.”Huawei is today more expensive than its rivals but it is also much better, they have really moved ahead in terms of quality of network equipment over their European competitors,” said an executive of one European mobile operator recently on condition of anonymity. Experts say Huawei is between six months and one year ahead of Sweden’s Ericsson in terms of the quality of its 5G equipment.The number two mobile network equipment manufacturer, Finland’s Nokia, is said to be even further behind.5G leader”Many want to avoid the Chinese but they are currently the most advanced in the area,” said Victor Marcais, a telecoms and media specialist at Roland Berger consultancy. Huawei has taken a lead in the equipment to power 5G networks, which will allow for blazingly fast connections for smartphones Calls for Huawei boycott get mixed response in Europe “Huawei has moved in the past few years from being the ‘low cost’ option to becoming the 5G leader.” © 2019 AFP 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. Several sources said that Huawei even helped Nokia in research and development to avoid facing off alone against Ericsson in 5G.Huawei would only say that it has “long-term partnerships” with several of its competitors in areas such as production methods, standards and patents.”We have always defended the principle of open innovation and collaboration to facilitate the development of the telecoms industry,” a Huawei spokesman said.After establishing itself as a player on 4G networks, the Shenzhen-based group has doubled down to dominate 5G.Each year it invests between 10 and 15 percent of its sales revenue on research and development. It spent $13.8 billion on R&D in 2017 and $15 billion last year.The strategy is paying dividends. In 2017 Huawei was by far the number one supplier of equipment for telecom networks, with a 22 percent market share, according to IHS Markit. Nokia trailed with a 13 percent share and Ericsson with 11 percent.That gap could grow as more operators across the world develop 5G networks, although the current geopolitical tensions pose a risk to Huawei exploiting its technological lead.European ambitionsEuropean nations, like those in Asia and the United States, want a rapid rollout of 5G with the first services expected to be running next year. A target that is difficult to attain without recourse to Huawei.”The regulators and governments have quite ambitious timetables while the operators see 5G as a way to reduce costs per gigabyte as data volumes explode,” said Marcais at Roland Berger.”However we see in Germany, for example, they aren’t happy the way things are shaping up.”Deutsche Telekom, in an internal document obtained by Bloomberg, warned that Europe could fall behind China and the United States by as much as two years if it forgoes using Huawei’s 5G equipment. It’s a dilemma for European telecoms firms: Should they steal a march on competitors and rapidly roll out next-generation 5G mobile networks using equipment from top supplier Huawei? Or should they heed US-led warnings of security threats and sit tight, and possibly fall behind? A Trojan horse for the Chinese government? Explore further read more

Tamil Nadu File Photo: TN Chief Minister Edappadi K. Palaniswami.   –  THE HINDU COMMENT Published on COMMENTS June 15, 2018 SHARE SHARE EMAIL politics SHARE The Tamil Nadu government today urged the Centre to keep in abeyance its decision to enact a Dam Safety Bill, recalling it had earlier raised some objections and that it had not received any revised draft on the matter thereafter. In a letter to Prime Minister Narendra Modi, Chief Minister K Palaniswami requested that the decision arrived at by the Union Cabinet on Wednesday to legislate the Act on the Dam Safety Bill, 2018, be kept in abeyance till all states were consulted and a consensus was evolved. He said late Chief Minister J. Jayalalithaa had earlier raised objections to “certain clauses” of the draft Bill, 2016 .“Since they encroach upon powers of state governments and also rights conferred on the state by virtue of Inter-State Agreements on dams owned, operated and maintained by the Government of Tamil Nadu but located in other state.” The state had earlier urged the Centre that the legislation should be re-examined and should not be “proceeded with in haste, without considering objections raised by Tamil Nadu threadbare.” “The Government of India has not circulated any revised draft after 2016 and it is presumed that the Bill in its original form has been approved by the Union Cabinet.” “This Bill would have wide ramifications on dams operated and maintained by (a) state government, especially those dams which are owned operated and maintained by the Government of Tamil Nadu, but are located in the neighbouring state,” he said in an apparent reference to the Mullaperiar dam located in neighbouring Kerala. Mullaperiar dam located in Kerala’s Idukki district is owned and operated by Tamil Nadu and the two states are at loggerheads over it’s safety and storage level. The Supreme Court had in May 2014 held that the dam was safe, and allowed Tamil Nadu to raise the storage level to 142 ft initially and to 152 ft later after completing strengthening efforts on the reservoir. In his letter today, Palaniswami said he considered “it appropriate that consensus of all the states be obtained before bringing forward such a legislation on dam safety.” “In the circumstances, I request you to kindly keep in abeyance the decision arrived at by the Government of India to legislate an Act on dam safety till such time all the states are consulted and consensus is evolved,” he said. The Union Cabinet had on Wednesday approved a proposal for enacting the Dam Safety Bill 2018, which will help states and union territories to adopt uniform safety procedures to ensure safety of reservoirs. The Bill seeks to constitute a national committee on dam safety which shall evolve safety policies and recommend necessary regulations, Union Minister Piyush Goyal had said on Wednesday. The Bill provides for establishment of National Dam Safety Authority as a regulatory body which shall discharge functions to implement the policy, guidelines and standards for dam safety in the country. In certain cases, such as dams of one state falling under the territory of another, the authority shall also perform the role of State Dam Safety Organisation, thereby eliminating potential causes for inter-state conflicts. The legislation will address all issues concerning dam safety including regular inspection, emergency action plan, comprehensive safety review, adequate repair and maintenance funds for dam safety, instrumentation and safety manuals. The Bill also provides for constitution of a State Committee on Dam Safety by the state governments. The provisions of the Bill also lay onus of dam safety on the dam owner and provides for penal provisions for commission and omission of certain acts. The draft bill was finalised after wide consultation with leading experts and international experts, Goyal had said. read more

Barring fundamentalists, Muslims want construction of Ram temple in Ayodhya: Ram Vilas VedantiRam Janmabhoomi Nyas member Ram Vilas Vedanti on Friday claimed barring fundamentalists, the Muslim community supports the idea of construction of a grand Ram temple in Ayodhya.advertisement Next Press Trust of India LucknowJuly 12, 2019UPDATED: July 12, 2019 22:05 IST Ram Janmabhoomi Nyas member Ram Vilas Vedanti (Image Credit: ANI)Ram Janmabhoomi Nyas member Ram Vilas Vedanti on Friday claimed barring fundamentalists, the Muslim community supports the idea of construction of a grand Ram temple in Ayodhya.”Eighty per cent Muslims, barring the fundamentalists, want that the temple be constructed at the place where Ram Lalla is installed in Ayodhya,” he told media here.”Lucknow,”The chairman of the Shia Waqf Board, Wasim Rizvi has also agreed that Ram temple be built in Ayodhya whereas the mosque can be constructed at any other Shia-majority place in he said.His comments come in the wake of the Supreme Court on Thursday seeking a report on the “progress of mediation” in the politically sensitive case of Ram Janmabhoomi-Babri Masjid land dispute in Ayodhya and said a day-to-day hearing may commence from July 25 if the court decides to conclude those proceedings.Ram Vilas Vedanti, described as working president of Ram Janmabhoomi Nyas, also said there was “nothing in the name of (Mughal ruler) Babur” in Ayodhya and that everything in the city was “in the name of Lord Ram”.”There is not even a locality, lane or ward named after Babar in Ayodhya,” he said.”Muslims need to come forward and say that Hindus should construct their temple in Ayodhya for peace, communal amity and brotherhood,” he said, adding the Sunni Waqf Board should withdraw the case.To a question, Ram Vilas Vedanti, a former BJP MP, said it was most unfortunate that in a country where Hindus constitute “90 per cent” of the population, people are fighting a case in court for the construction of Ram temple.He said no power can build a mosque where Ram Lalla is installed, adding his statement could be either taken as a ‘threat’ or ‘suggestion’.On December 6, 1992, the Babri Masjid, constructed at the disputed site in the 16th century by Shia Muslim Mir Baqi, was demolished.ALSO READ | Ayodhya land title case: SC asks mediation panel to submit report by July 18ALSO WATCH | War over Jai Shri Ram escalates in Bengal, Kumaraswamy seeks floor test, says he govt has numbers; moreFor the latest World Cup news, live scores and fixtures for World Cup 2019, log on to indiatoday.in/sports. Like us on Facebook or follow us on Twitter for World Cup news, scores and updates.Get real-time alerts and all the news on your phone with the all-new India Today app. Download from Post your comment Do You Like This Story? Awesome! Now share the story Too bad. Tell us what you didn’t like in the comments Posted byKritika Kashyap Tags :Follow Ram Vilas VedantiFollow AyodhyaFollow Ram templeFollow MuslimsFollow Ram Janmabhoomi Nyas Karyashala read more