Jack Rodwell finally leaves Sunderland after fruitless four-year spell

first_img poor Jack Rodwell has finally left Sunderland after a woeful four-year spell at the club.It was reported on Wednesday that the club and player agreed by mutual consent to end his contract prematurely. The 27-year-old’s prime years have gone to waste Kevin Phillips responds to rumours linking him with Sunderland job Latest Sunderland News in the ring Portsmouth and Sunderland among clubs to troll Southampton after 9-0 defeat interested GLOATING? Are Watford doomed or can they survive after just three points in eight games? review HOT HEADED DONE 1center_img Robins ‘totally invested’ in Coventry after rejecting Sunderland to sign new deal Man City breeze past Southampton, Leicester win, Everton edge past Watford ON THIS DAY Darren Bent recalls beach ball goal 10 years on: ‘It was Liverpool fans’ fault’ Rodwell has cost the club £73,000 per week since joining for £10m from Manchester City in 2014.His pay was due to drop to £42,000 as a result of the side’s relegation to League One, but this now need not apply. Study reveals the ‘dirtiest teams’ in Premier League history Ian Holloway ‘would run to Sunderland’ as former player backs him for job Sunderland legend reveals ‘good chat’ with club about returning as manager FAMILIAR FACE ‘They are legendary within the game’ – Parkinson privileged at Sunderland appointment staying Rodwell made just two league appearances for Sunderland as they were relegated last season and played a total of 76 games for the club in his four years at the Stadium Of Light.He has been linked with a move to Major League Soccer as well as Greek side Aris Thessaloniki.last_img read more

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Busy Twin Towns junction to undergo traffic review

first_imgThe appointment of a consultant to carry out a review of the operation of McClay’s junction in Stranorlar has been welcomed.Claire McGeever, Stranorlar area roads manager, confirmed that traffic counts will take place next week.The traffic counts will be done by a data collection company. Councillor Patrick McGowan said: “While adjustments to the traffic lights late last year have improved traffic movements, it is important that this survey goes ahead and identifies any glitches that occur as well as recording traffic movements on each approach road at different times in the day.“This busy junction at Mc Clays Corner needs smart traffic lights that can be adjusted to handle heavy traffic movements coming in different direction at various times of the day.”Busy Twin Towns junction to undergo traffic review was last modified: March 9th, 2019 by Shaun KeenanShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:cllr patrick McGowantwin townslast_img read more

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Philpott looks to bring Indigenous health delivery to new department

first_imgKristy KirkupThe Canadian PressOTTAWA – Newly minted Indigenous Services Minister Jane Philpott says her new department will likely include the delivery of health services for First Nations and Inuit – an area previously under her watch at Health Canada.Philpott said consultations and legislation will be required for the creation of her new ministry, but she said the 1996 Royal Commission on Aboriginal Peoples clearly suggested a new department should handle health delivery on a gradually diminishing basis.“The royal commission structure that was recommended is fairly similar to the approach that we are taking, suggesting that all health services would be managed through a new department and a minister that was responsible for delivery of those services until such time that self-governing First Nations or other Indigenous communities were ready, willing and able to take over those areas,” Philpott said in an interview.She also said the current federal approach – dividing Indigenous health care and the delivery of other social services that drive health outcomes – is an “artificial separation”, while the new department affords an opportunity to bring this all under one roof.“Health services fits very strongly in with other social determinants like education and child care and so many other issues that will be under the portfolio,” Philpott said.“In a way, my job is a step in the process necessary in the short term in order to fix many things that are not working right and to address many injustices in terms of the level of services that are being provided, but it is not intended that the department of Indigenous Services will be around forever.”Self-determination of communities, including the ability to control health services, was the vision behind an agreement recently inked by Ottawa, Nishnawbe Aski Nation (NAN) and the province of Ontario, she said, noting it looks to put control and direction in the hands of the communities needing the services.NAN Grand Chief Alvin Fiddler said he is pleased to see a new federal department is being created, adding he wants to see it do business differently.“We need to dismantle the whole system and in its place, build a system that will finally meet the needs of our communities,” he said. “Our communities have to be engaged in a meaningful way to ensure that the solutions that they have are incorporated into this process. I welcome the opportunity to be involved and for our communities to be involved in that work.”Dr. Alika Lafontaine, past president of Indigenous Physicians Association of Canada, said the federal government now has a blank slate to lay out a new vision.“Minister Philpott has a great a chance to impact health disparities positively, as early politicians had to completely dismantle the health systems that existed in our Indigenous communities,” he said. “This is probably the biggest opportunity that has been given to Indigenous communities in a very long time.”Philpott agrees the new ministry provides an “incredible opportunity.”“Our government needs to be listening very carefully and acting on the good advice of people who have thought about this for a very long time, that this has to be a momentous change,” she said.“I think the blank slate metaphor is a good one and one that we certainly need to keep in mind _ that this is a new future.”Northern Ontario NDP MP Charlie Angus, who is currently running to become leader of his party, said the key issue is to ensure the federal delivery of services is transformed and made more transparent for communities.“Simply moving the office doesn’t really change anything.”last_img read more

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Alberta boosts job numbers in spite of doom and gloom forecasts

first_imgOTTAWA (660 NEWS) – Some jobs numbers are shocking economists from coast to coast especially in this province.Stats Canada said there were more than 94,000 jobs added in the month of November across the country.This is coming as donations for charities in Alberta have plummeted, economic forecasts have been shaky, and some economists expect major layoffs in the oil and gas industry. Yet Alberta is one of the leaders when it comes to this growth.We sit second in the country when it comes to jobs added. There were 24,000 positions added in the province, and we’re only behind Quebec when it comes to growth.Stats Canada reports that growth is not coming at the expense of contractors as the rate of self-employed workers has stayed roughly the same, but there was an increase in public sector jobs.“There was very strong gains in areas like health care and social assistance, in public administration, in information culture and recreation, those things that tend not to be driven as much by the energy price,” noted ATB Financial Chief Economist Todd Hirsch.Hirsch believes these numbers are good news, but the price of oil is still a problem for Alberta.“If we don’t see some positive news early in the new year, I think we will then start to see more layoffs. But I don’t expect we will see massive layoffs between now and the new year,” said Hirsch. “If we are hearing some positive news about pipelines going ahead or around this oil price differential, I think we’ll be in okay shape. But I think there are a lot of companies too that are just holding on by their fingernails.”More volatility in employment: Canada added a net 94,000 jobs in November, far above estimates, driven by full-time work. The unemployment rate fell 0.2 percentage points to 5.6%, “the lowest since comparable data became available in 1976” says Statscan.— Richard Dettman (@rwdettman) December 7, 2018The unemployment rate dropped a full percentage point to sit at 6.3 per cent in the province.In Calgary, that rate is down 0.3 percentage points to sit at 7.9 per cent.Royce Mendes with CIBC Capital Markets is skeptical of any kind of celebration over these figures.“These numbers are extremely volatile on a month-over-month basis.”He believes there are factors that could lead to a swing towards less pleasant outcomes.“There was a big increase in jobs in Alberta. Now you will remember, during November is when the price of Western Canadian Select oil prices fell dramatically. So it’s odd then that Alberta increased 24,000 jobs during the month. So there are major concerns about the sustainability of the jobs gained in November.”last_img read more

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Science World coming to Fort St John next weekend

first_imgFORT ST. JOHN, B.C. — Science World is bringing its unique and entertaining science shows back to Fort St. John next weekend.Science World’s On The Road team will be in Fort St. John and surrounding communities from March 5th–9th. Science World road team visits over 30,000 students each year at schools outside the Lower Mainland, who might not otherwise have a chance to visit Science World in Vancouver.The team will wrap up its visit by participating in the Community Science Celebration at Northern Lights College in Fort St. John on Saturday, March 10th. The free community event will include eye-popping shows, demonstrations and challenges, along with an opportunity to meet all the people in the community doing working in science, technology, engineering and math every day. “We are thrilled to be participating in the Community Science Celebration in Fort St. John,” said Jo-Ann Coggan, Director of Community Outreach for Science World. “It is a showcase of the community for the community and will profile local businesses, organizations and innovators. Science World will provide fun, dynamic science experiences for the whole family as part of this event.”The event will run from 10:00 a.m. to 4:30 p.m. on March 10th at Northern Lights College.last_img read more

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Akhilesh Yadav meets Mayawati after Priyanka meets Bhim Army chief

first_imgLucknow: The chiefs of Uttar Pradesh alliance partners SP and BSP met here on Wednesday hours after Congress leader Priyanka Gandhi paid a surprise visit to Bhim Army chief Chandrashekhar Azad at a Meerut hospital.SP president Akhilesh Yadav met BSP chief Mayawati after newly appointed Congress general secretaries Priyanka Gandhi and Jyotiraditya Scindia met Azad. When contacted, Samajwadi Party spokesperson Rajendra Chaudhary said the two leaders met to discuss joint public meetings and rallies, being planned for the Lok Sabha polls. Meetings are being held constantly as the election is round the corner and the poll campaign has to be launched full scale after Holi next week, he said. The alliance has left two seats for the Congress in the state and will honestly support it on them, said Chaudhary. Meanwhile, a senior SP leader, who did not wish to be named, claimed Priyanka Gandhi’s visit to the Bhim Army chief was in reaction to the BSP president ruling out any alliance with the Congress. “But Mayawati is not someone who will yield to any kind of pressure. This alliance will not come under pressure. It has already given two seats to the Congress,” he added. Mayawati had Tuesday snubbed the Congress by slamming doors on it for any electoral alliance for the Lok Sabha polls anywhere in the country.last_img read more

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Pleasant weather conditions prevail clear skies likely today

first_imgNew Delhi: Pleasant weather conditions prevailed in the capital with the maximum temperature settling at 30.7 degrees Celsius, six notches below the season’s average.The minimum temperature was recorded at 17.1 degrees, five degrees below the normal, said a MeT Department official. The humidity oscillated between 90 and 41 per cent. The weather office has predicted clear skies for Friday. “The maximum and minimum temperatures are expected to hover at 34 and 19 degrees Celsius, respectively,” the weatherman said. Also Read – After eight years, businessman arrested for kidnap & murderDay and night temperatures across northwest and central India are expected to rise now as we do not foresee any weather activity over northern plains, including Delhi and NCR, vice president (meteorology and climate change) at Skymet Mahesh Palawat said. “At present, temperatures are below normal but due to gradual increase, by April 22, Delhi may record 38 to 39 degrees Celsius of maximum temperature,” Palawat said. On Wednesday, light rains in some parts of the city brought the mercury down.last_img read more

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Rep Griffin bill to update 21st Century education standards

first_img03Mar Rep. Griffin bill to update 21st Century education standards Categories: Griffin News,News State Rep. Beth Griffin of Mattawan is helping set the table for all Michigan students’ futures as part of a four-bill package to update state high school graduation standards.Griffin’s legislation specifically requires students complete at least three courses in 21st Century Skills including foreign language, visual or performing arts, computer science or coding, or a formal career/technical education (CTE) program in order to graduate.“This is a great step towards helping prepare kids for today and their future,” said Griffin, a former teacher at Parchment Middle School. “This bill package gives students better choices and options to prepare for life after high school. It’s crucial to help match educational opportunities with which careers and jobs are out there today versus 20 years ago.”The merit education package will also:Allow the foreign language course requirement to be met by completing a CTE program or visual/performing arts course.Allow completion of a Michigan Occupational Safety and Health Administration general industry or construction training program to fulfill a health education requirement.Allow for statistics to be an alternative to Algebra II within current Michigan merit standards that require at least four mathematic credits to graduate.“As a teacher, it makes me feel good to know the classes students could be taking may lead directly to a future career,” Griffin said. “As a former county commissioner and educator, I’ve talked to a lot of employers who say ‘we’ve got jobs but we can’t find employees with the job skills we need.’ This a great step forward for students, families and our community.”#####last_img read more

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Deficit to GDP Debt to GDP

first_imgDeficit to GDPDebt to GDP Greece28.91% Italy$107,000$552,000 -8.5% -4.2% Dear Reader,Chris Wood here, filling in for David Galland. Today’s issue is full of good stuff. Robert Ross will kick it off with an interesting look at the future and economic implications of asteroid mining. Then Adam Crawford will delve into the troubling economic situation in France. And, of course, we’ll end it all with some Friday Funnies. Let’s get started. Space Prospecting: Planetary Resources and the Future of Asteroid MiningBy Robert Ross, Junior AnalystAlthough it may sound like it was ripped from the pages of an Isaac Asimov novel, asteroid mining could be a huge step forward for mankind. The concept has been around for over a century, with Russian scientist Konstantin Tsiolkovsky first postulating the idea in 1903. At the moment, the trek into the great asteroid-laden unknown is being led by one company – Planetary Resources.One thing Mr. Tsiolkovsky didn’t have was connections, something that Planetary Resources has in droves. With a lineup of investors and board members that includes various Google executives – including founder and CEO Larry Page and former CEO Eric Schmidt – acclaimed film director James Cameron, former Microsoft executive Charles Simonyi, and Ross Perot Jr., son of former presidential candidate Ross Perot. Seed funding shouldn’t be an issue.Nor did Tsiolkovsky have the vision. Planetary Resources has a three-step plan, with an aim to mine asteroids for water and precious metals. More specifically, the company intends to create a swarm of robotic spacecraft that can use artificial intelligence to coordinate complex mining operations without a human presence.The whole thing may seem like a bunch of eccentric billionaires getting together to throw hoards of money at a project with little possibility of success. But it’s not. According to the company’s president and chief engineer Chris Lewicki, Planetary Resources is already cash-flow positive:“When we started the company, one of the first things we did was to identify the roadmap that would get us from now until we got to the asteroids. That way, we could identify who would be interested in the things we’d be developing along the way. We already have contracts with NASA, some private companies, and even a few private individuals.”That roadmap starts with the Arkyd series 100, also known as the Leo Space Telescope. By designing and selling this “low-cost” telescope, the company believes it will be able to gain the necessary experience to develop more complex models, while generating cold, hard cash in the meantime.Artist conception of an Arkyd 100-series space telescope. (Credit: Planetary Resources)The Leo Space Telescope is designed to track and analyze the size and orbital patterns of near-Earth asteroids. But, in order to generate cash in the short term, the company plans to point some of the telescopes down at Earth. The satellites will gather vast amounts of data which can then be sold to universities, businesses, and governments. Planetary Resources claims the Leo Space Telescope will be sold on private markets at a price “in the single-digit millions,” making the Leo the first private space telescope on the market.The company plans to build on what it learns during the development and launch of the Leo Telescope to get to the next phase, the Arkyd Series 200 – Interceptor. The new fleet of satellites will have added propulsion capabilities, which will be used to hitch a ride on asteroids crossing through Earth’s neighborhood.According to Planetary Resources, two or more Interceptors can work in tandem to identify, track, and “fly by” near-Earth asteroids, capturing high-resolution data in the process.The new technology will also create an opportunity for the company to update our deep-space communication network. According to Lewicki, who has experience working on the Mars rover projects, the deep-space communication network currently in use is 50 years old and is based on primitive, Earth-based antennae. To improve upon this, the company seeks to develop small, low-power optical communications technologies to couple with the Interceptor, which would offer better communications than the limited bandwidth available on NASA’s network.The third phase of the project will expand upon the Interceptor design. By augmenting it with deep space laser communication capability, the Arkyd Series 300 – Rendezvous Prospector will allow the characterization of an asteroid’s value prior to mining operations, collecting data on the asteroid’s shape, rotation, density, and surface and subsurface composition. In short, the satellite will serve as a tool to establish which asteroids hold the most valuable resources and which are the most feasible to mine.The final phase is to actually mine these asteroids. Planetary Resources claims that the initial space-resource development projects will focus on water-rich asteroids. By focusing on water – which can be used in space for hydration, breathable air, radiation shielding, and formulating rocket fuel – the company hopes to enable large-scale exploration of the solar system.The company has a few ideas on how the actual mining operations will take place. One advanced technique mentioned by Lewicki is to harness the energy generated by the heat and cold differential on an asteroid; this is generated by sunlight hitting part of the asteroid while the rest is in shadow.. In theory, this should provide the energy needed to extract the targeted resources.Apart from making science-fiction fans cheer, mining asteroids has many implications for life inside and outside our atmosphere. It could make long-term space travel more feasible, since astronauts would not have to return to Earth to resupply certain essential resources, such as water, gas, oxygen, etc.Another attractive opportunity is the plethora of rare-earth metals – such as scandium, cerium, and gadolinium – contained in certain near-Earth asteroids. It’s speculated that a relatively small, 1.6-km diameter asteroid with the right physical characteristics could contain more than $20 trillion worth of industrial and precious metals. For example, near-Earth asteroid 16 Psyche is believed to contain 1.7×1019 kg of nickel-iron, which would be enough to supply current world production requirements for several million years. Not too shabby.Basic economics informs us that doubling or tripling the supply of anything while keeping demand constant will certainly drive down its price. If a Planetary Resources fleet returned from a voyage that increased the amount of gold on Earth by 100 times, the price of gold would certainly plummet.In step, by extending the reach of potential mining operations to space, Planetary Resources could potentially alter the way we currently conceptualize scarcity. It also has the potential to ruin the company’s return on investment.But Lewicki isn’t fazed:“Of course, it’s all about supply and demand, and we’re subject to those risks as much as any other company. But if we as engineers had materials that were best for a job and could use those materials all the time without thinking of the costs, it would change the world. It’s not about scarcity, it’s about access. Fundamentally, that’s what we’re focused on. We want to take opportunities and deliver value just like any other business. Only our business will extend the economic sphere into the solar system.Although this could leave some BIG GOLD subscribers shaking in their boots, don’t expect any of this to come to fruition any time soon. The company plans on launching its first Leo Space Telescope in 18-24 months, and it will probably be decades before any actual space mining takes place.Of course, the scientific community is not without skeptics. Former NASA aerospace engineer Louis Friedman says it would take “hundreds of millions of dollars” to get started. This shouldn’t be a problem considering Planetary Resource’s wealthy stakeholders and friends, not to mention the private sector’s ability to innovate and cut costs.It’s also worth noting that upcoming NASA mission OSIRIS-Rex will be engaging in some asteroid mining of its own. The mission’s goal is to harvest two ounces of material from an asteroid and return to Earth at a cost of about $1 billion. But we all know how efficient government-funded projects are.Private versus public arguments aside, there are some other fundamental issues related to asteroid mining. Friedman states that the company would have difficulty transferring raw materials extracted from asteroids back to Earth, given the cost of going in and out of Earth’s gravity well. So hang on to your gold.There’s also some competition, although it’s taking a different approach. Moon Express, led by Intelius founder Naveen Jain, seeks to mine the moon, and he’s already secured a $10-million NASA contract. But, considering the legal wrangling that would be involved with strip-mining the moon, I would be skeptical of the company’s outlook.In my opinion, both are interesting concepts that could have far-reaching implications for us here on Mother Earth. Could this technology allow humans to travel millions of miles into space, harvesting water and other nutrients from asteroids along the way?The science-fiction fan inside of me sure hopes so. France’s Economic CrisisBy Adam J. Crawford, Junior AnalystThus far, France’s troubled economy has eluded the spotlight of the popular press. This may soon change, however, as the realization that France’s economy is as fundamentally flawed as the highly publicized PIIGS economies takes hold.France looks like PIIGSFor many years, France has been on a borrowing binge while feeding those funds to its citizens through various entitlement programs. The amount borrowed each year has accumulated over time, resulting in the dangerously high level of debt to GDP seen today. Source: Bloomberg 107.8% Italy6.04% 120.1% -5.2% So far, France has escaped the wrath of the sovereign bond market. In fact, the yield on France’s 10-year bond recently slid to an all-time low. But the smart money is beginning to question the French government’s ability to repay its debt. The evidence can be seen in credit default swaps (CDS), which have spiked nearly 35% since March. The cost to insure $10 million in French debt for five years currently stands at $213,000 per year. This number is relatively small when compared to the cost to insure the debt of other troubled nations in the Eurozone. However, it is strikingly similar to the cost to insure the sovereign debt of these same troubled nations three short years ago. Italy Ireland$220,000$679,000 -9.1% David Hinman, comanager of SW Asset Management firm, believes insurance on French debt could soon follow the PIIGS’s path into the stratosphere:“The severity of French CDS’ going from 220 to 500 is going to be very meaningful and it could very easily happen. There is too much debt with very little prospects for them being able to work it out. I am not sure how all of this plays out.”This time isn’t differentOne thing is for sure: the boneheaded economic agenda of France’s newly elected Socialist leader will only make the country’s precarious financial situation much worse. Here’s a list of President Hollande’s most memorable campaign promises:Raise taxes on the “rich”Freeze fuel pricesIncrease welfare paymentsHire 60,000 new teachers; and“Make layoffs so expensive for companies that it’s not worth it” (my personal favorite).The scary thing is, implementing these reckless reforms should be a piece of cake given that the Socialists are likely to win a majority in the Parliamentary elections. If this does happen, expect to see soaring debt and a sinking stock market in the near future (just like last time the French elected a socialist leader).France’s economic predicament is but one of myriad opportunities the world’s shaky economy is presenting to self-directed investors. Some particularly intriguing speculations can be found in our flagship publication, The Casey Report, which is helping subscribers position themselves to profit from the Volatility Index, options on a Chinese index fund, and a host of emerging trends that Wall Street is ignoring.But perhaps the biggest opportunity that awaits subscribers – indeed, all investors – lies beneath the surface of the United States’ teetering economy. Friday FunniesCongratulations, GraduatesThe Source of Our ProblemsCongressional Express – Don’t Leave Home Without It!Greek MythologyThe Modern WorldThat’s it for today. Thank you for reading and subscribing to Casey Daily Dispatch.Chris Wood Senior Analyst Casey Research, LLC 165.3% Portugal 10.67% Greece Portugal$79,000$1,070,000 Spain6.51%center_img 10-year bond yield Ireland8.21% Spain France$39,000$213,000 -3.9% Spain$98,000$600,000 Source: Eurostat 2011 data 108.2% 85.8% 2012 2009 -13.1% Portugal This reckless borrowing ends and the painful – but necessary – economic contraction begins when the market punishes heavily indebted countries with higher interest rates. This is what is happening to Portugal, Ireland, Italy, Greece, and Spain. France Greece$162,000$8,161,000 Source: Bloomberg 68.5% Irelandlast_img read more

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From Jim Rogers… to Marc Faber… to Congressman Ron

first_imgFrom Jim Rogers… to Marc Faber… to Congressman Ron Paul, this book is sitting on the desks of some of the world’s smartest thinkers…And for good reason, too.Inside you’ll find 47 ways to protect your wealth from the declining value of the U.S. DollarDiscover FIVE of those 47 ways for free, right here. Sponsor Advertisement The northern hemisphere’s summer season is now history…and reality has returned. It sure doesn’t look good, does it?With North America shut for the Labour Day long weekend, there wasn’t much activity in the gold price yesterday…and volume was non-existent.  Gold traded a handful of dollars either side of the $1,690 spot mark…but managed to get as high as $1,697.10 spot just before Globex trading ended at 6:15 p.m. in London.  From that high it got sold off a few dollars into the close…and finished at $1,692.60 spot, up a buck from Friday.The only real signs of life were in the silver market.  After not doing much of anything up until 1:00 p.m. in London trading, the price began to develop a positive bias…and was actually up 60 cents at one point, before giving some of that back just before the 6:15 p.m. BST Globex close.Silver finished at $32.10 spot…up 36 cents from Friday.  Volume was very light as well.Of course the dollar index didn’t do much after the 6:00 p.m. Eastern time Sunday night open, either.With the U.S. shut tight, there was nothing from the CME, SLV, GLD…and the U.S Mint.However, the report from Switzerland’s Zürcher Kantonalbank for the period ending Thursday, August 30th showed that their gold ETF added 30,083 troy ounces and, if this number can be believed, they added an eye-watering 4,001,096 ounces of silver to their silver ETF during the August 22-30 reporting period.  I sent an e-mail to ZKB asking for confirmation of that silver number, but Nick Laird told me that it was correct.  That’s more than two full days of world silver production.Based on that number, one can only imagine just how much physical metal the SLV authorized participants must owe that ETF…but I would be bet that it’s quite a few orders of magnitude more than that.I’ve got a couple of charts for you today.  The first is from Australian reader Wesley Legrand.  It shows the gold price in both US$ dollar terms…the red trace…and non-US$ dollar terms…but blue trace.  As Wesley pointed out, there hardly seems to have been a correction at all when one looks at non-US currencies…more like a “sideways consolidation”.(Click on image to enlarge)The second chart is courtesy of reader Mark Childers…and shows World Gold Production for 2008.  It requires no further explanation from me.And lastly is this eye candy for silver lovers that Nick Laird sent me last night.  It’s titled “Gold/Silver Ratio: Future Potential Ratios“.  Please use the ‘click to enlarge’ feature…and then let your imagination run wild.(Click on image to enlarge)The main reason for today’s column is the long list of stories that I’ve accumulated over the weekend…and I hope you have the time to at least read the parts that I’ve cut and paste.  But, as always, the final edit is up to you.There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt. – John Adams, 1826Gold did virtually nothing yesterday, but it’s attempted foray to almost $1,700 the ounce got turned back shortly before the close of Globex trading in London at 6:15 p.m. BST yesterday.  Silver ran into the same seller as well.The northern hemisphere’s summer season is now history…and reality has returned. It sure doesn’t look good, does it?  There just isn’t any good news in sight…and the further the economic, financial and monetary can gets kicked down the road, the worse the disaster is going to be when it finally does blow up…or melt down…or both.There just isn’t any way out of this, except maybe the gold card…and the world’s banks and governments don’t have a “Plan B”…unless it is precisely that.  But, if they are going to play it at some point, then they’re keeping that secret awfully well.  It will be interesting to see if this new gold commission the Republicans have talked about at their national convention will amount to anything.  But one thing it will do, if it does comes to pass, is that will give even more publicity to the fact that fiat currencies always end up at their intrinsic value, which is zero.And as Alan Greenspan mentioned about a decade ago…and I’m paraphrasing here…fiat currencies, in extremis, may not be accepted as payment, whereas gold always will.It’s going to be a wild ride between now and Christmas…and there’s not much any of us can do except sit back and watch the show…all the while hoping that we’ve prepared for every eventuality as best we can.Not much happened during Far East trading on their Tuesday…although the gold price made a rather weak-kneed attempt to break above the $1,700 spot price once again, before getting sold down.  Nothing much is happening in London trading either, now that trading has been going on for a bit over two hours.  Volumes in both metals is reasonably light once again…and the dollar index is down about 10 basis points as I hit the send button at 5:15 a.m. Eastern time.See you tomorrow.last_img read more

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