About the authorFreddie TaylorShare the loveHave your say Sterling wants Man City teammate Foden in England squadby Freddie Taylor23 days agoSend to a friendShare the loveManchester City star Raheem Sterling would be delighted to see teammate Phil Foden in the England setup.The teenage midfielder is being linked with a call up to the full England squad for their October Euro 2020 qualifiers.While he has struggled for game time in the Premier League this season, Foden is rated as one of the most promising English talents in his age group.Foden netted for City against Dinamo Zagreb in the Champions League on Tuesday.”Players that we have here, you have to read the game and the goals will come,” Sterling told BT Sport about City not scoring until late in the game.”I am buzzing for Phil and I want him in the national team, if he keeps going he will be there.”
Photo: Notre Dame Sent Mail About Its High School Prospect Camps To A Starting Offensive Lineman At Rutgers
Chris Muller is a rising redshirt junior at Rutgers. He has appeared in 26 games for the Scarlet Knights the past two seasons, making 25 starts at right guard. One of those starts was actually against Notre Dame in the 2013 Pinstripe Bowl. Apparently, the Fighting Irish staff either didn’t remember Muller from that game, or were so impressed that they are attempting to recruit him over a year later. Tonight, Muller tweeted that he received mail from Notre Dame about its upcoming 2015 summer high school prospect camps, a curious delivery considering Muller is entering his fourth year at another program. Well this is awkward… #CHOPNation pic.twitter.com/OsQLwniVCK— Chris Muller (@Chris_Muller70) February 21, 2015Not sure if this is an actual NCAA infraction but either way Notre Dame should probably update its recruiting mailing lists. More: The Only 13 Teams That Can Win The Playoff In 2015
Mumbai: Jet Airways, facing its worst existential crisis in its over 25-year-old history, Friday extended suspension of its international operations till next Monday due to severe liquidity issues. Incidentally, the stake sale bid invited by the SBI- led consortium of bankers, which manages the day-to-operations of the airline, also closes by the end of the day Friday, after being extended by two days. Airline founder Naresh Goyal, the UAE carrier Etihad Airways, Air Canada and the country’s national investment fund among others are reported to have submitted bids, according to media reports. On Thursday, the airline had announced temporary grounding of its international operations for day-Jet was the largest international airline from the country till the financial crisis–when it had also suspended operations to the entire Eastern and Northeastern markets as Jet was forced to ground 10 more aircraft following default of lease rentals. This has left Jet with no large aircraft while it had just 14 planes for domestic operations as of late Thursday. “Jet has decided to extend suspension of its international operations till Monday, due to severe cash crunch,” airline sources told PTI Friday. Jet was the largest domestic carrier operating in the international sector with a hub in Amsterdam, where a cargo agent had taken possession of an aircraft this on Tuesday demanding bill payment. This led to the cancellation of the Amsterdam-Mumbai flight that day. Thursday Jet flights to London, Amsterdam and Paris from Mumbai, New Delhi and Bengaluru scheduled were cancelled for operational reasons,” Je had said, adding it had also cancelled the Bengaluru-Amsterdam-Bengaluru flight Friday. On the domestic front, all Jet operations to and from the Eastern and Northeastern states were suspended till further notice. Following this, there would no Jet flights to and from Kolkata, Patna, Guwahati and other airports in the region, travel industry source had told PTI. Jet had also said its Mumbai-Kolkata, Kolkata-Guwahati and Dehradun-Guwahati-Kolkata flights stood cancelled till further notice due to “operational reasons.” As of Thursday, the airline had just 14 planes–way down from 123 planes in operations till a few months back. Of the 14 aircraft that it operated till Thursday evening, eight were wide-body B777s (seven) and an A330– generally used for long-haul international operations. The remaining six planes were, three B737s, which are largely used for flying on domestic routes besides on short- haul international destinations and the rest three are regional ATRs. With just 14 aircraft left for operations, aviation secretary Pradeep Singh Kharola had told PTI that the ministry was awaiting a report from the DGCA to decide whether Jet can continue to fly on international routes. The government rules stipulate an airline must have at least 20 planes for operating international operations.
Gurugram: Thirty-four people had filed the affidavits for the Gurugram Lok Sabha seat which was finally reduced to 24. The profile of the candidates is as varied and diverse as the largest Lok Sabha constituency that has a total of 21 lakh voters. Among the 24 candidates if there is a businessman who with the total assets of over 100 crores is not only the richest candidate from Gurugram but even Haryana, there is also a street vendor.Four-time MP from the area Rao Inderjit Singh derives his income from his investments in various commercial ventures and infrastructure companies. His Congress rival Captain Ajay Yadav also has the same source of income. Based on the affidavit, his family has an automobile showroom in Rajasthan. With assets worth 102 crores, Virender Rana of Indian National Lok Dal is an entrepreneur who runs his own firm in the city. Other candidates who have their own business interests are Raees Ahamed from the Bahujan Samaj Party and Hans Kumar, an independent who runs his own real estate firm. Mehmood Khan of Jan Nayak Janta party is a social entrepreneur. The youngest candidate from Gurugram is Pawan Kumar who is 30-year-old. He is contesting from Shiv Sena and is a school professor. Other people from service backgrounds involve Ramesh Chander who was in Haryana police and Jai Kawar Tyagi who is an ex-Army man. There are also candidates in the form of Abdul Latif and Kushehshwar Bhagat who have filed their candidatures independents so that they can lead more voice of the common man. While Abdul Latif is an automobile mechanic, Bhagat is a street vendor who has his stall in South Delhi’s Chattarpur area. Out of the 24 candidates who have participated in the democratic exercise, most of them are businessmen followed by social workers and retired servicemen. Interestingly, most of the candidates find their roots from Nuh area. With 20 per cent Meos, Nuh not only has the highest number of electorates but also is the most backward region in the country. Most of the independents are contesting in the elections for the first time.
“Alex Stamos continues to be the Chief Security Officer (CSO) at Facebook. He has held this position for nearly three years and leads our security efforts especially around emerging security risks. He is a valued member of the team and we are grateful for all he does each and every day.”The information security team that Stamos had overseen within the company has since been integrated into Facebook’s product team, with the Times reporting that out of 120 staffers, only 3 are left as part of the original team.Stamos had been known for openly engaging with both users and critics on Facebook and Twitter about issues relating to the Russia probe.The report comes on the heels of revelations that Trump campaign-affiliated Cambridge Analytica had been able to obtain personal data on tens of millions of Facebook users without their consent. Facebook’s stock was down close to 7 percent at the close of markets Monday due to these reports, which also resulted in U.S. senators calling for hearings on the data abuse.Update: 5:40pm: This post was updated with a statement from Facebook. Popular on Variety Facebook’s chief information security officer Alex Stamos is leaving the company over internal disagreements on how to handle the investigation into Russia’s interference with the 2016 presidential election, the New York Times reported Monday afternoon citing anonymous sources within the company.Stamos reportedly had been internally pushing for aggressively investigating and disclosing Russia’s actions on its platform, something that other senior executives, including COO Sheryl Sandberg, disagreed on. He made the decision to leave the company back in December, but agreed to stay on until August to help with the transition of his responsibilities, according to the New York Times.Facebook didn’t respond to repeat questions on Stamos’ planned departure Monday, and instead sent out a statement highlighting that he was still working at Facebook — something that the New York Times report hand’t disputed. Here’s the company’s full statement: ×Actors Reveal Their Favorite Disney PrincessesSeveral actors, like Daisy Ridley, Awkwafina, Jeff Goldblum and Gina Rodriguez, reveal their favorite Disney princesses. Rapunzel, Mulan, Ariel,Tiana, Sleeping Beauty and Jasmine all got some love from the Disney stars.More VideosVolume 0%Press shift question mark to access a list of keyboard shortcutsKeyboard Shortcutsplay/pauseincrease volumedecrease volumeseek forwardsseek backwardstoggle captionstoggle fullscreenmute/unmuteseek to %SPACE↑↓→←cfm0-9Next UpJennifer Lopez Shares How She Became a Mogul04:350.5x1x1.25×1.5x2xLive00:0002:1502:15
Australians increasingly embracing multi-generational travelExpedia.com.au has today released further findings from its annual State of the Nation report, revealing Australians are increasingly embracing multi-generational travel, seeing it as an opportunity to spend quality time with the whole family, not only a chance for a free trip from the oldies and a helping hand with the kids.In the lead up to the Easter holidays, Expedia is seeing searches for family hotel rooms increase more than 20% year-on-year*, as more than a third (35%) of Australian travellers report they have been on holiday with more than one generation of their family in the last two years, rising to 46% among Australian parents** with children 17 and under.Close to two thirds of Aussie parents (63%) always took multi-generation holidays prior to having children, believing they are a nice way to spend time as a family (92%). Who foots the bill is also a consideration, with 45% agreeing to trips being funded by the older generation.Regardless of who pays, parents value the additional help looking after the kids on a multi-generation holiday with 80% saying it makes their holiday more relaxing. Men appreciate the extra sets of hands more than women with 81% of men saying multi-generation travel makes their holidays more relaxing versus 76% of women.Four in ten Aussie parents (38%) admit they probably wouldn’t invite grandparents, aunties or uncles if it wasn’t for the free babysitting. Expedia.com.au travel expert, Kelly Cull, says: “A multi-generation escape with parents, kids, siblings and grandparents has a positive impact on all family members as they explore, learn and laugh together. What’s more, children get to enjoy the company of other relatives while parents can catch some brief moments alone.”“There are lots of excellent accommodation options on Expedia.com.au, like serviced apartments, for travelling tribes that allow everyone to share the fun but also have their own privacy, which is important.”Expedia.com.au’s top five recommended destinations for travelling tribes this Easter:The WhitsundaysFijiHawaiiTasmaniaNew ZealandAussie parents not deterred by long-haul travel with kidsLonger flights can lead to cabin fever and restless children however the State of the Nation report reveals extended travel time doesn’t deter Australian parents. On average, Aussie parents are willing to travel up to 12 hours with their kids to reach a destination.Travel time aside, parents are taking kids on holidays abroad thanks to greater affordability of overseas destinations and cheaper flights. Close to eight in ten (79%) Australian children*** (aged 17 and under) have been overseas. ExpediaSource = Expedia
Danish cable operator YouSee will launch its OTT service YouBio in a month and a half’s time. The service will be available on its own network as well as off-net.Mathias Berg, senior vice-president, consumer, YouSee, said there were 15 other OTT services available on the market. “This is the time to embrace change and innovation,” said Berg, speaking on a chief marketing officer panel session at the CTAM Europe EuroSummit yesterday.Berg said that the OTT service would be offered as an option to new and existing subscribers. Spotify’s success in music streaming had shown that subscription OTT services could work, at least in the Nordic region, he said.Berg said that his company had adopted the strategy of broadcasting all channels unencrypted on its existing digital cable network, enabling consumers to access services without a set-top box. The company has about 60% penetration of its main TV package. YouSee has already launched a TV everywhere service to secure existing customers’ loyalty, said Berg.
In This Issue. * Spain & Italy PMI’s beat expectations * UK Services push sterling to 4-year high! * RBA leaves rates and hawkish statement unchanged. * Silver is stuck in the mud. And Now. Today’s A Pfennig For Your Thoughts. It’s All About The Currencies Today. Good Day! . And a Tom Terrific Tuesday to you! I couldn’t believe my ears this morning when the alarm went off, for it wouldn’t register in my mind that it was time to get up, and I kept saying to myself, that’s a false alarm, go back to sleep! But. Returning to sleep mode was not in the cards, as I soon figured out, that it was not a dream, and it was time to get up! UGH! I look forward to the day, I say, “Forget it, I’m going back to sleep!” It appears that the markets have finally figured that out, and decided not to go back to sleep this morning, and therefore carry through the overnight rally in the currencies. Of course some good data prints from the Eurozone, can be quite the help in that regard! Gold is flat today, after pushing past $1,300 on Friday, and staying there yesterday. I’ve got a few things to talk about today, and some housecleaning to do, so as the Michael Stanley Band played many years ago, “Let’s get this show on the road”. Front and Center this morning, the Eurozone peripheral countries such as Spain and Italy printed strong PMI’s (manufacturing indexes) to start the month off on a good foot. Spain’s PMI actually was an acceleration of the previous strong report. For those of you keeping score at home, Spain’s PMI for April hit a 3 year high of 56.5, and marked the 5th consecutive month that it beat not only the expectations but the U.S.’s PMI figure. Italy printed a PMI of 51.1, and beat the expectations also. Given the strength of these two PMI’s going into the European Central Bank (ECB) meeting on Thursday, I think what I said yesterday about how there will be no drama at this ECB meeting, is becoming even more accepted in the markets. This has the euro on the rally tracks this morning, folks. The euro is just a couple of ticks away from the March high of 1.3932. Remember, though, the last time the euro got this high, and looked like it wanted to take out 1.40, that the rug got pulled out from under the euro, by something. Quite Frankly I don’t recall what it was, as I was actually in S. Florida watching either the sea come crashing into the beach, or my beloved Cardinals. But I’m sure it was something smartless, and pushed the euro back down. You know, I’ve said this many times through the years of this weak dollar trend, and that is: the ECB and Eurozone manufacturers don’t want to see the euro this strong. (remember when it was 1.50 before the financial meltdown, and looked like it might never fall?) The Eurozone leaders would prefer to see the euro between 1.20 and 1.30. But, as I’ve also said before, I don’t think the ECB is interested in currency wars, or selling the euro to weaken it. So, jawboning the euro in the direction the ECB feels to be right, is their tool of choice. Late last year when the euro was around 1.28-1.30, I told you all that I saw the euro returning to 1.50 this year.. Of course that was all centered around the idea that I had for the U.S. Fed, and their Tapering of Quantitative Easing / bond buying/ money printing/ cheap Japanese imitation. I’m still of the belief that later this year, we’re going to be looking at a very weak economy, and the Fed will have no other choice but to add to their “signature bond buying program” and therefor throw the remaining credibility that they have out the window. And that won’t be good for the dollar, and with the euro the offset currency to the dollar, the euro then gets pushed higher and higher, whether the ECB wants it or not! I mean, come on, you probably thought I had gone quacky, lost my marbles, and all those other nice things they say when someone has their saneness questioned, when I said that about the euro, but think about that. the euro has gained 10-cents since then, did you think that was possible back when I said that? So, the open course has been set for the euro. And it’s not uncharted waters. been there, done that, bought the T-Shirt. The Reserve Bank of Australia (RBA) met last night, and left their internal rate unchanged at 2.5%… There were no major changes to the accompanying statement, and the minor ones were at least positive, with the RBA acknowledging that there has been some improvement in indicators of the labor market. Tonight will see the March and 1st QTR Retail Sales reports from Australia, and later this week, we’ll see the latest labor report. All this good news and thoughts for things to print still this week, has the Aussie dollar (A$) on the rally tracks this morning, and has passed 93-cents once again. The New Zealand dollar / kiwi, is also on the rally tracks, but for no apparent reason other than to grab onto the A$’s coat tails and go for a ride! Kiwi has traded past 87-cents this morning, which is pretty thin air for the currency. I would say this, about the moves in A$’s and kiwi overnight, I would be careful here. Should anything hit the markets to upset the applecart, these two will get hit the hardest, because they have rallied the most! And these days, I just can’t ever feel like it’s all seashells and balloons when there are so many things to worry about that could upset the applecart in a NY Minute! But having said all that, these moves higher are very welcomed by currency holders, and should be viewed as proof that what I’ve been saying all along is coming to fruition, in that the dollar would return to the underlying weak trend. I find all this dollar weakness interesting in that it comes at a time when the “flight to safety” deriving from the problems in Ukraine, should be enough to keep the dollar from falling like it has. But it hasn’t been. Speaking of Ukraine. Things there seem to be really getting ugly, which should be a heavy weight for the euro to shoulder.. But then maybe the markets see this Ukraine problem, like my friend Jim Powell, called it. “a passing storm”. In fact, Jim starts his latest letter with this note: “The biggest obstacles to peace and prosperity today aren’t the threats that dominate the news. Slow economic growth, high unemployment, uprisings in the Middle East, and North Africa, Russia’s annexation of Crimea and so on, are passing storms.” Should you be interested in reading Jim Powell’s Changes & Opportunities Report each month, and I must say I look forward to receiving mine each month, you can click here to check out subscribing to the letter. http://www.powellreport.com/section/subscription OK. Yesterday, I made a statement about the Cinco de Mayo celebrations being something along the lines of celebrating their independence. And I think I make that same error just about every year that 5/5 is on a workday! Of course I really didn’t say it was their “independence Day”, which happens to be Sept 16. But it did gain them independence from the French at a battle of Puebla. So, I apologize to anyone that was offended by me not stating all that correctly! The British Pound sterling is kicking rear and taking names later again this morning. Pound sterling hit a 4-year high this morning at 1.6953, on the back of a better than the average bear Services report, and the fact that the Big Dog euro is off the porch this morning, chasing the dollar down the street! Canada printed a nice trade SURPLUS for February of C$290 Million, the largest monthly surplus since December 2011. The March report is expected to add to the C$290 Million, and put another notch in their belt of positive reports. The Canadian dollar / loonie is up in value this morning to $.9140. Or, as it is quoted on the street, 1.0940. This has been a strong move below 1.10 for the loonie, and one that is welcome, as I feel the loonie has been held back artificially. Speaking of Trade Balances. The U.S. Data Cupboard will print the March Trade Balance, read. Deficit. this morning. Should be around $40 Billion in the red. And that’s it, other than the IBD/TIPP Economic Optimism Index. Something that will fly completely out of the market’s radar today. As I said above, Gold was flat when I came in, but is down $2 right now, so still pretty flat on the day. I’m going to talk about Silver more today though. I read a report on Bloomberg that got me thinking about Silver. The Bloomberg report said, “While makers of everything from jewelry to solar panels are buying the most silver in nine years, price are languishing. Investors are dismissing industrial demand and instead focusing on the waning appeal of precious metals as a haven, with the Federal Reserve paring economic stimulus measures, inflation muted and equities rallying.” Hmmm. I have to say that while that explains why Silver can’t seem to get out of the mud at $19 dollars and change, it just doesn’t play well in the sandbox with what Chuck thinks should be pushing Silver higher. Ukraine, Chuck’s thoughts on tapering, inflation is not muted, go buy some beef, are all reasons for Silver to rally. And the equities rally? Well, I’ll repeat something I told my audience at the Orlando Money Show. “Everyone is interested in stocks again. Well, good for them! The last time this happened, it didn’t turn out too good for stock holders now did it? And all the time the stocks were heading higher, currencies and metals were left to drift in an ocean of red. But all good things must come to an end, right? And that’s all I have to say about that! . Now, before I head to the Big Finish this morning, I have this to say. OK. I see that I piqued a lot of interest from you dear readers regarding our new MarketSafe CD. Look, I know it’s not the sexiest MarketSafe CD we’ve ever issued, and I know it won’t light up the night when it’s all said and done, and maybe, interest rates don’t rise in the next 5 years, so on, and so on. But those are not reasons to complain about it, but, think about this.. Most people like things simple. Simple to use, simple to understand. They don’t want to have to need an engineer’s degree to understand the latest investment vehicle, put together by the quants at a Big Brokerage House. This MarketSafe was put together from a simple idea. That interest rates will go higher in the next 5 years. How high, is the question, but Shoot Rudy, wouldn’t you be kicking yourself if interest rates skyrocketed like they did in the late 70’s, early 80’s, and you didn’t have an investment to reward you for this increase in rates? Now, I’m not saying they will skyrocket, I’m just saying, what happens if they do? For What It’s Worth. Have you ever heard of G. Edwin Griffin? Yes, he’s the author of the great book: The Creature from Jekyll Island, which chronicles the story of the beginning of the Fed, and how it was done in secrecy so as to not get the U.S. citizens all up in arms about a banking cabal. Well, G. Edwin Griffin has an amazing story to his life, folks. A former CIA operative, etc. Well, he has an email service that he sends out, called “unfiltered news”. And that’s where I found this story. You’re going to love this one! “Late last week, a bill to legalize gold and silver as legal tender was passed through the Oklahoma state house. The vote was 74-12. Senate Bill 862 (SB862), was introduced by Sen. Clark Jolley and Rep. Gary Banz, with cosponsorship from Sen. Natham Dahm. It reads, in part: Gold and silver coins issued by the United States government are legal tender in the State of Oklahoma. No person may compel another person to tender or accept gold or silver coins that are issued by the United States government, except as agreed upon by contract. The bill also provides a state-level tax exemption to Oklahoma residents exchanging their precious metals for another medium of change: For taxable years beginning on or after January 1, 2015, there shall be exempt from Oklahoma taxable income, or in the case of an individual, the Oklahoma adjusted gross income, any amount of net capital gains, as defined in 26 U.S.C.A., Section 1222 of the Internal Revenue Code and included in the federal income tax return, which result from the sale or exchange of gold or silver for another form of legal tender. Oklahoma is now slated to become the second state to recognize gold and silver as legal tender authorized for payments of debts and taxes. Earlier this year, the Arizona senate also passed a similar bill by a vote of 18-12. But that bill has stalled in the state house. Currently all debts and taxes in Oklahoma and the rest of the United States are either paid with Federal Reserve Notes (dollars) which were authorized as legal tender by Congress, or with coins issued by the U.S. Treasury – very few of which have gold or silver in them.” Chuck again. Yes, let me remind each and every one of you that: The United States Constitution states in Article I, Section 10, “No State shall.make any Thing but gold and silver Coin a Tender in Payment of Debts.” To recap. It’s a currency rally day, without Gold & Silver participating. At least right now they aren’t! The euro got going in the right direction this morning, as Spain and Italy both printed PMI’s (manufacturing indexes) that beat expectations, and in Spain’s case marked the 5th consecutive month that their PMI was better than that in the U.S! The U.K. printed a strong services index number and the pound is at a 4-year high this morning. The RBA left rates unchanged and didn’t make major changes to their previous hawkish statement, so the A$ is rallying and taking kiwi along for the ride this morning. Currencies today 5/6/14. American Style: A$ .9340, kiwi .8750, C$ .9150, euro 1.3940, sterling 1.6975, Swiss $1.1450, . European Style: rand 10.5145, krone 5.9120, SEK 6.5040, forint 220.30, zloty 3.0160, koruna 19.6735, RUB 35.53, yen 101.75, sing 1.2475, HKD 7.7520, INR 60.11, China 6.1565, (a small mark down in renminbi overnight, very small) pesos 13.02, BRL 2.2425, Dollar Index 79.16, Oil $99.74, 10-year 2.62%, Silver $19.70, Platinum $1,448.25, Palladium $814.00, and Gold. $1,311.72 That’s it for today. Let’s see, what do I have in the bag of things to talk about today. Oh! Alex received two scholarships last night at the Senior Awards, of which he was one of the masters of ceremony. He’s come a long way from the little boy that wouldn’t look people in the eye when he talked to them. Cardinals find a way to win in Atlanta. And Chuck gets news on scans. I can tell you that the doctor says I’m stable, “and that’s good” according to him. I on the other hand am not satisfied or happy with stable. So, the news was taken with a grain of salt for me. My wife says to be happy. The doctor says to be happy. Maybe I’ll get there, eventually. I guess with all the metastasizing that I’ve had, there’s something to be said for being told there’s no new growths… Enough of that! That talk gives me the willies. Tonight is Senior Night at Alex’s last home Water Polo game. The seedings came out for the State Tournament, and Lindbergh is seeded 4th. Which would be a HUGE triumph for my son, Andrew’s public school team. To reach the final 4 would be HUGE! And if I were the Athletic Director at Lindbergh, I would give him a huge raise! HA! And with that. I’ll get out of your hair today, and hope you have a Tom Terrific Tuesday! Chuck Butler President EverBank World Markets
Editor’s note: Yesterday, Crisis Investing editor Nick Giambruno told us about two stories every investor should be watching right now. Today, Nick is back to discuss two serious dangers most people haven’t even thought about. He also reveals his No. 1 investment idea for the year. Justin Spittler, editor, Casey Daily Dispatch: Nick, let’s start with the bad news. What are a couple threats most investors have ignored? Nick Giambruno, editor, Crisis Investing: I think the petrodollar system could begin to unravel this year. It’s my number one “black swan” event for 2017. The petrodollar is an arrangement between the United States and Saudi Arabia. It basically ensures that every oil transaction by the Organization of the Petroleum Exporting Countries (OPEC), a cartel of 13 major oil-producing countries, is done in U.S. dollars. The system has created a deeper, more liquid market for the dollar and U.S. Treasuries. It’s allowed the U.S. government and the average American to live beyond their means for decades. Most importantly, the petrodollar is the glue that holds the U.S.–Saudi relationship together. But the system, which has been in place since the 1970s, is starting to fall apart. J.S.: How so? Nick Giambruno: The geopolitical sands of the Middle East are rapidly shifting. Saudi Arabia’s regional position is weakening. Iran, which is notably not part of the petrodollar system, is on the rise. U.S. military interventions are failing. And the emerging BRICS (Brazil, Russia, India, China, and South Africa) countries are creating potential alternatives to U.S.-dominated economic/security arrangements. None of this bodes well for the petrodollar. But Saudi Arabia’s weakening position is easily the weakest link in the petrodollar system today. That’s because the stars are aligning against the Saudi kingdom. The country hasn’t been this vulnerable since it was founded in 1932. J.S.: What can investors do to protect themselves or profit from the collapse of the petrodollar system? Nick Giambruno: Gold is by far the best way to profit from the end of the petrodollar. You see, the petrodollar system was put in place after the U.S. dollar went off the gold standard in 1971. It’s the main reason why the dollar is still the world’s reserve currency. When the petrodollar inevitably collapses like I expect, it’s going to rattle the global monetary system in a way not seen since the end of the gold standard. And, as you may know, this caused the price of gold to skyrocket from $35 an ounce in 1971 to $850 an ounce by 1980. That’s a staggering 2,300% rise in only nine years. Gold mining stocks, which are leveraged to the price of gold, did even better. I expect the returns to be at least this great after the end of the petrodollar. We’re talking about a truly once-in-a-generation kind of investing opportunity. I think this could happen sooner than most people think… That’s why I laid out a blueprint that explains how to profit from the collapse of the petrodollar system in the latest issue of Crisis Investing. As I explained in that issue, you won’t want to find yourself on the wrong side of history when this happens. J.S.: Are there any other hidden dangers our readers should know about? Nick Giambruno: The unsound banking system is a threat most people have never even considered. You see, most folks assume the banking system is safe. Boobus Americanus thinks he actually owns the money in his bank account. But that’s not true. Once you deposit cash in the bank, the money is no longer your property. It belongs to the bank. What you actually own is a promise from the bank to repay. It’s an unsecured liability. In other words, money in a checking account is less secure than cash you would stick under your mattress. Of course, 99.9% of people don’t realize this. J.S.: Why shouldn’t people trust banks with their life savings? Nick Giambruno: When you put money in your checking or savings account, you become a creditor of the bank. If the bank gets in trouble, you’re going to get burned. This wouldn’t be a problem if banks were responsible with deposits they’ve been trusted to look after. But most banks gamble with people’s money. They bet on risky investment fads like mortgage-backed securities. This happened on a grand scale during the last financial crisis. Of course, we’ve all been told the government will have our back if the banking system runs into trouble. After all, the Federal Deposit Insurance Corporation (FDIC) supposedly insures our deposits up to $250,000. That’s far more money than the average person keeps with their bank. This makes people think their money is safe. But it’s a false sense of security. J.S.: Why’s that? Nick Giambruno: The FDIC only has about $30 billion set aside in emergency funds. That sounds like a ton of money. But the FDIC insures around $9 trillion in deposits. In other words, the FDIC hasn’t even set aside one penny for every dollar it insures. There are also at least 36 U.S. banks with more than $30 billion in deposits. If just one of these banks fails, it could completely clean out the FDIC. That’s not even that unlikely, given how leveraged U.S. banks are at the moment. In short, the global economy is based on unsound banks dealing in unsound currencies. It’s a mile-high house of cards that looks wobblier by the day. Oddly, these facts don’t seem to shake the confidence the general public and most financial experts place in the banking system. WANTED: 1,000 Men and Women To Join Chris Mayer In The Most Ambitious Project Of His Career This is an entirely different Bonner & Partners project, with an ambitious goal to find stocks with the potential to become the biggest stock market winners of tomorrow. Success is not guaranteed. We could fail completely. But if it all works out the way Chris intends it to, just one idea could fund your whole retirement. If you have the courage to learn more, click here for the full details of his new project. – The Best Place to Hide Your Money It’s tax-free. Pays up to 37 times more than bank accounts. And you DON’T NEED TO REPORT IT TO THE IRS. No wonder the government doesn’t want you to know about this secret account. Click here. — Recommended Links J.S.: Scary stuff. What can people do to protect themselves? Nick Giambruno: Many people put more thought into what reality show they’re going to watch on TV tonight than which bank they choose to be custodians of their savings. Many don’t even realize they have other practical options. There are banks in stable jurisdictions with low debt that don’t gamble with customer deposits (i.e., your money). Many of these banks are much better capitalized, keep more cash on hand, and are otherwise much more conservatively run than those in the U.S. These offshore banks are almost always more responsible custodians of your hard-earned savings. Doug Casey and I describe how you can do it all from home in a free report. And there’s still time to get it done without extraordinary cost or effort, but you need to act quickly. Click here to download the PDF now. J.S.: What about opportunities? Where do you think people stand to make the most money this year? Nick Giambruno: If I were putting my own money into something today, it would be uranium, hands down. It simply has the most explosive upside. Doug says, “When the market wants into gold stocks it’s like trying to force the contents of the Hoover Dam through a garden hose. In the case of uranium stocks, it’s more like a soda straw.” Take Paladin Energy. Doug recommended this company during the last uranium bull market, and it leaped from one penny to $10 per share. That’s a 1,000-fold increase. A $10,000 investment could have exploded into $10 million. Even the worst-performing companies in the uranium sector delivered 20-to-1 returns during the last bull market. Uranium can deliver these almost unbelievable returns because of unique supply-and-demand quirks that create colossal bull and bear markets. J.S.: Hasn’t uranium been in a bear market for almost a decade? What makes you think the market is finally going to turn around? Nick Giambruno: The price of uranium has plunged more than 85% from previous highs. Longtime readers know Doug often says any asset down more than 90% deserves a look. In this case, uranium is close enough for consideration. Right now, uranium is selling for far less than it costs to produce. Very few uranium companies are making money. That’s led to a huge decline in global uranium output. Today, the uranium industry is producing about 50,000 tonnes per year while the global economy consumes about 68,000 tonnes of uranium each year. That means we’re looking at an annual deficit of around 18,000 tonnes. Global inventories make up the shortfall, but they may not be able to for much longer. You see, almost no one knows how much uranium is currently in storage. Governments and companies keep this a secret. Most experts I’ve spoken with say global uranium reserves could enter the “danger zone” within a year. If the price of uranium doesn’t rise soon, some of these mines could shut down. If enough companies fold, lights across the world could go out. But I don’t see that happening. I think it’s much more likely that uranium prices will surge. It’s the only cure for this brutal bear market in uranium. J.S.: So we could be looking at a major supply crunch in the near future? What about on the demand side? Nick Giambruno: It’s picking up. And new nuclear power plants in China, India, Taiwan, and South Korea practically guarantee that this will continue. China, which currently accounts for 8% of global uranium demand, is expected to overtake the U.S. (29% of demand) as the world’s largest uranium consumer by 2030. The country sees nuclear power as the best way to reduce its huge air pollution problem, since nuclear power is essentially “zero carbon.” J.S.: Is there anything else that could lift uranium prices? Nick Giambruno: Definitely. Donald Trump. As you probably know, Trump is strongly pro-energy. But most people don’t know that he’s pro-nuclear energy. A few years ago, he said, “I’m in favor of nuclear energy, very strongly in favor of nuclear energy.” Nuclear energy also fits right in with Trump’s “America First” platform. It’s critical for securing the country’s energy independence. This is huge. You see, nuclear power doesn’t have a great reputation. Many people associate nuclear power with meltdowns at places like Fukushima and Three Mile Island. But fears surrounding nuclear power are largely grounded in paranoia, not facts. If Trump can convince the public that nuclear power is good for the country, uranium prices could soar. Shares of uranium companies, which are some of the most beaten-down stocks in the world, could go parabolic. Overall, I can’t think of another asset with more upside and less risk than uranium. It’s every speculator’s dream, and easily my number No. 1 speculation for this year. J.S.: Good stuff as always, Nick. Thank you. Nick Giambruno: Anytime, Justin. Editor’s note: In November, Nick recommended a world-class uranium company. This stock is already up 19% in just two months. A month later, Nick “doubled down” on his bet by recommending a second uranium company. Shares of that company, a junior miner, have surged 29% since Nick recommended the stock just over a week ago. These are huge gains for such short periods. But these stocks could easily rise 5, 10, or even 20 times higher than they have already if uranium prices soar like Nick expects. Of course, you have get in front of the crowd if you want to have any shot at these kinds of life-changing returns. You have to buy uranium stocks when they’re trading for crisis prices…like they are right now. You can learn about Nick’s top uranium stocks by signing up for Crisis Investing. Click here to get started. In case you missed it: Casey Research founder Doug Casey recently sat down with Maurice Jackson of Proven & Probable to discuss his brand-new novel, Speculator. In this interview, Doug also talks about the art of speculation, the institution of government, precious metals, and more. Click here to listen.
Technology Fab Cuts 20 Percent of Staff in Fresh Round of Layoffs Next Article Opinions expressed by Entrepreneur contributors are their own. –shares Fireside Chat | July 25: Three Surprising Ways to Build Your Brand Add to Queue Former Managing Editor 1 min read October 3, 2013 Lauren Covello Fab will slash nearly a fifth of its global workforce in a move aimed at bringing the design-based e-commerce startup closer to profitability.The company will lay off 101 employees, including 84 from its New York headquarters, Fab CEO Jason Goldberg announced on his blog Thursday.”We’ve made the tough but correct decision to eliminate positions that are either legacies of our former flash-sales business model or are part of current processes that can be managed with innovative technology and fewer people,” he wrote.This is the second round of layoffs at Fab this year. In July, just a month after closing a $150 million round of financing, the company laid off more than 100 employees in Europe.Goldberg insists the cuts are necessary to help Fab achieve its long-term vision. “I acknowledge that sometimes our near-term decisions may not always make immediate sense externally,” he wrote. “This is not one of those times.”Related: Online Startup Fab Sued for Copyright Infringement, ‘Unfair’ Competition Learn from renowned serial entrepreneur David Meltzer how to find your frequency in order to stand out from your competitors and build a brand that is authentic, lasting and impactful. Enroll Now for $5