Police: Rapper Silento charged with murder in shooting death

first_imgATLANTA (AP) — Authorities say the Atlanta rapper Silento has been arrested and charged with murder in the January shooting death of his 34-year-old cousin. Police in the Atlanta suburb of DeKalb County said Monday that the rapper whose legal name is Ricky Hawk was arrested and booked into jail. A police statement said he’s charged with murder in the Jan. 21 death of Frederick Rooks. Silento is known for his hit viral dance song “Watch Me (Whip/Nae Nae).” It wasn’t immediately known if Hawk had an attorney who could comment for him.last_img read more

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The Latest: Mahomes to celebrate virtual grads at Texas Tech

first_img___The International Gymnastics Federation is creating a fund to financially assist athletes and national federations struggling amid the pandemic.The fund will give about $400,000 to various groups in hopes of easing what FIG President Morinari Watanabe calls a “grave crisis.”This fund will be managed by the FIG’s Foundation for Solidarity. The foundation supported hundreds of athletes and federations in need through scholarships, financial aid following an accident and equipment donations since its inception in 2002. The criteria for applying for a grant will be released soon.The federation also said member organizations will not be required to pay 2020 dues. The FIG takes in about $120,000 from dues. The German soccer federation has delayed the restart of the men’s third-division because it doesn’t have political approval.The third division was scheduled to resume on May 26 amid the coronavirus pandemic but the federation says that can’t happen without the go-ahead from authorities around the country. Games in the first and second divisions will resume Saturday.The third division still has 11 rounds of games to play.The pandemic has put several third-division clubs under strain.Leader MSV Duisburg has financial problems and second-place Waldhof Mannheim told local newspapers on Thursday that it stopped training because it doesn’t have coronavirus tests. Associated Press Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:Super Bowl MVP Patrick Mahomes is set to be part of the virtual graduation ceremonies for Texas Tech, his alma mater.The star quarterback of the Kansas City Chiefs will address the graduates along with two students receiving their degrees in a ceremony to be livestreamed on May 23. Commencement ceremonies normally held at Texas Tech’s basketball arena were canceled because of the coronavirus pandemic. Mahomes was a record-setting passer for the Red Raiders before the Chiefs drafted him 10th overall in 2017. He just finished his second season as Kansas City’s starter by leading a fourth-quarter comeback in a 31-20 victory over San Francisco in the Super Bowl in February.The 24-year-old Mahomes is the son of former major league pitcher Pat Mahomes. The younger Mahomes was a two-sport standout in high school in East Texas and briefly played baseball at Texas Tech before focusing on his football career.Texas Tech President Lawrence Schovanec says, “Patrick’s story and his rise to stardom, both here at Texas Tech and in the NFL, have been a great source of pride for Red Raiders and an inspiration for thousands.”___The IndyCar race in downtown Toronto has been postponed. The race was scheduled to be held July 12 on a street course at Exhibition Place. ___Aussie rules football will kick off again on June 11, with the second round of the Australian Football League to be played almost three months after the competition was suspended because of the coronavirus pandemic.Australian Football League chief executive Gillon McLachlan on Friday announced the matches for the next four rounds of the condensed season would be released within 10 days. The AFL, Australia’s most-watched sports league in terms of attendance and TV audience, was suspended on March 22 after one round.Quarantine requirements and travel restrictions from some states means players and staff from the four AFL clubs from Western Australia and South Australia — the West Coast Eagles, Fremantle Dockers, Adelaide Crows and Port Adelaide — will be temporarily be relocated to hubs on the Gold Coast, an hour south of Brisbane. ___ The letter asks the House and the Senate to pass the HEROES Act, which would secure internet access for millions of economically disadvantaged students during the pandemic. The Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act proposed by the House would provide nearly $60 billion in relief funding to kindergarten through high school districts, as well as funding for schools and libraries to provide internet services for students and families.“The COVID-19 pandemic has highlighted the existing digital divide as millions of students struggle to get online, adjusting to distance learning without internet access,” said McCourty, a safety with the New England Patriots.___NASCAR has yet to receive the green light to race in Pennsylvania. Gov. Tom Wolf says he spoke to NASCAR officials about the status of the June 27 and 28 races at Pocono Raceway. The stock car series announced this week it will stick to Tennessee, Georgia, Virginia, Florida and Alabama for June races — all of them without fans. NASCAR has now set plans for 20 races — including nine in the elite Cup Series — as it returns to the tracks after being shut down for more than two months by concerns about the coronavirus. The revised schedule didn’t address the scheduled doubleheader weekend at Pocono and the rest of season.“We actually had conversations with NASCAR and I told them Pennsylvania is not ready to make a decision,” Wolf said. “The area that they want to have this gathering in is actually in the red right now, red zone, red phase, so I told them Pennsylvania is not ready to make a decision.”The Cup Series is scheduled to resume this Sunday at Darlington Raceway and run four times in 11 days at the South Carolina track and at Charlotte Motor Speedway in Concord, North Carolina.___ ___Miami Dolphins fans will be given a chance to view Don Shula’s statue at their stadium in the first of a series of events to celebrate the late coach.Access to the statue by vehicle will be permitted next Friday and Saturday. Fans will be required to practice social distancing and are discouraged from bringing any items with them.The Dolphins will host a public memorial for Shula at the stadium once coronavirus concerns ease.Shula led the 1972 and 1973 Dolphins to Super Bowl championships. He died on May 4 at the age of 90. ___The Michigan tournament where the LPGA Tour hoped to resume has been canceled.The LPGA says the Dow Great Lakes Bay Invitational will not be played July 15-18 because of the coronavirus pandemic. The tour did not offer any other specifics except for Commissioner Mike Whan emphasizing the long-term health of the tour is paramount.This is the only team event on the LPGA schedule. Whan says Dow has extended its title sponsor contract and the LPGA will return to the Great Lakes Bay region next year and beyond.The cancellation means the LPGA now hopes to return July 23-26 with the Marathon LPGA Classic in Ohio. Spanish teams have returned to training at club facilities but players must respect social distancing.___The Cypriot soccer federation has called off the season because of the coronavirus pandemic.The decision came after a team of medical experts rejected a set of health protocols drawn up by the federation and insisted that its own guidelines are followed.The federation said it couldn’t overcome the expert group’s demand that an entire team be quarantined for two weeks if any player tests positive for the virus. Two teams are barred from playing until May 27 by the state of Saxony-Anhalt and can train only in small groups.___World Rugby has postponed July test matches involving southern and northern hemisphere nations because of ongoing restrictions on international travel during the coronavirus pandemic.The sport’s international governing body issued a statement Friday saying the mid-year test window will be rescheduled when cross-border travel and quarantine regulations are relaxed.New Zealand had been scheduled to play Wales and Scotland, Australia was set to play Ireland and Fiji and South Africa had planned to host Scotland and Georgia. World Rugby said the postponement is due “to ongoing government and health agency COVID-19 directives.” ___The International Tennis Hall of Fame’s 2020 induction ceremony for Goran Ivanisevic and Conchita Martinez has been canceled because of the coronavirus pandemic. So has the annual men’s grass-court Hall of Fame Open tournament.The induction was scheduled at the Hall in Newport, Rhode Island, for July 18. That is the same day the tournament was supposed to finish.But the COVID-19 outbreak has resulted in the suspension of all sanctioned tennis competition since March and at least until the end of July.Ivanisevic and Martinez now will be honored alongside any Class of 2021 inductees in July 2021. “It’s about $525,000 that we’ve committed to fund those spring sports seniors to make sure that they get that final year experience,” Mullens said. “And our development team is going to help us try to raise that money to support those student athletes.”___The National Women’s Hockey League has canceled the Isobel Cup championship game between the Boston Pride and Minnesota Whitecaps.The game was scheduled March 13 in Boston, before the initial postponement because of the coronavirus pandemic.NWHL founder and commissioner Dani Rylan calls the decision “disappointing” while adding “this global health crisis transcends sports.” The top tours already had been on hold at least until July 13. That was announced on April 1 on the same day that the All England Club said it would be canceling Wimbedon for the first time in 75 years because of the outbreak.___Atlético Madrid defender Renan Lodi has returned to training after having reportedly been cleared following a previous positive test for the coronavirus.The Spanish soccer club says Renan trained on his own.Spanish media reported that Lodi had tested negative after spending several days confined following an initial positive result. Lionel Messi says the long stoppage of play caused by the coronavirus pandemic could be a boon for Barcelona.Messi tells Sport on Friday, “maybe this stoppage will end up benefiting us.”Messi didn’t cite his reason for thinking the stoppage would be good for Barcelona, but the return of strike partner Luis Suárez from injury will surely be a lift.Barcelona and the rest of Spain’s soccer league hasn’t played since March 12, when La Liga halted action because of the COVID-19 virus outbreak. Over 27,000 Spaniards have died from the disease.Teams have recently returned to practice at club facilities, but they are training individually and undergoing tests to make sure there is no spread of the virus.center_img The league is focused on preparing for next season. Its scheduled to open in mid-November, with a sixth team after the addition of an expansion franchise in Toronto.Ticket holders can request a refund or choose to apply their payment toward Pride tickets for next season.___Bowling Green has dropped baseball as part of a move to ease financial stress due to the COVID-19 pandemic.The school says it’s reducing its athletic budget by $2 million. The Latest: Mahomes to celebrate virtual grads at Texas Tech Bremen is due to host Bayer Leverkusen on Monday in its first Bundesliga game back since the league was forced to take a two-month break due to the coronavirus outbreak.The club says the affected player has consistently tested negative for COVID-19, but “the decision to place him under quarantine was made in conjunction with the Bremen health authorities.”All players and staff members of the club have undergone five rounds of testing with no positive results so far.Bremen sporting director Frank Baumann says, “As a result, our team and our staff are not under any risk. This shows that the medical protocol is working and that infected individuals can be identified early on.”The Bundesliga is due to resume on Saturday with six games. All matches are to take place without spectators and with strict hygiene measures in place for the rest of the season. May 15, 2020 The track and the series are both owned by NASCAR, which is resuming its season Sunday in South Carolina. The IMSA race will be without spectators and technically fills a void created when NASCAR this season ended its annual holiday race weekend in Florida for Indianapolis Motor Speedway.IMSA will then go to Sebring International Raceway July 17-18 for another race in Florida without fans.The sports car series had completed just one event, the Rolex 24 at Daytona in January, before the coronavirus pandemic. IMSA now has nine upcoming events on its revised schedule that is set to conclude at Sebring in mid-November.___ More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6 Event organizers said they have been in discussions with city officials about an alternate date later in the year for the popular race.IndyCar has yet to start its season. It is scheduled to race June 6 at Texas Motor Speedway for its opening event. The Indianapolis 500, held on Memorial Day weekend every year since 1946, has been moved to August.___A coalition of players is urging Congress to pass a coronavirus relief bill that would provide critical funding for elementary and secondary education. Among the signers of the letter from the Players Coalition are NFL players Devin McCourty, Kelvin Beachum and Sebastian Joseph-Day. The coalition was formed in 2017 and aims to advance social justice and racial equality. Oregon Athletic Director Rob Mullens said Friday that the entire athletic staff has taken a 10% pay cut.The Ducks are the latest athletic department to cut costs in the midst of the coronavirus outbreak.Mullens said that Oregon is not planning to cut any sports to save money.“We’re looking at a lot of other things. But cutting a sport is the last thing we would ever want to do,” Mullens said in a video conference call with reporters.Oregon is also committed to helping the seniors on scholarship in canceled spring sport return next year. “This is a very difficult, but necessary, decision,” athletic director Bob Moosbrugger said. “As a baseball alumnus, my heart breaks for the families affected by this decision.”Moosbrugger added the school will honor scholarship agreements through graduation and will assist student-athletes who want to transfer.Bowling Green’s move came one day after Akron, another member of the Mid-American Conference, dropped three sports because of fiscal hardship caused by the virus outbreak. Earlier this week, the MAC announced it is eliminating postseason tournaments in eight sports, including baseball and softball, to save money.___The IMSA sports car series will resume racing on July 4 at Daytona International Speedway. The Spanish league says it wants to return to playing matches on June 12, but it will depend on the public health situation.___Soccer clubs in England’s professional fourth tier league are backing the season being prematurely ended.The English Football League say that’s the “preferred direction of travel” of League One clubs but the decision requires approval from the footballing authorities.If the season is abandoned, the final standings would be determined by a points-per-game system. The clubs want to scrap relegation this season, so two sides don’t drop into the semiprofessional fifth tier. The league intends to pack eight rounds of games into just over one month to finish on July 22. League president Sergei Pryadkin says all games will be held in empty stadiums.The Russian Cup will also continue with the final on July 25. That means some clubs face up to 11 games to finish the season.A planned promotion-relegation playoff has been dropped with only the bottom two clubs in the top division relegated automatically as usual.The league has also adopted a rule change allowing up to five substitutions per match.___ Omonia Nicosia, Anorthosis Famagusta, APOEL Nicosia and Apollon Limassol were the top four teams in the standings when the league was suspended and will represent Cyprus next season in European tournaments.The federation also decided that the number of teams in the first division next season will increase by two to 14. There will be no relegation this year but two teams from the second division will move up.The first division will revert to 12 teams the following season with four teams relegated and two teams promoted.___The Russian soccer league will restart on June 21 after a break of more than three months because of the coronavirus pandemic. But the top three teams would still be promoted automatically to League One. Playoffs between the next four sides would still be required to determine the final promotion spot.The EFL says its “board will now consider the implications of the division’s preferred approach at their next meeting.”In a statement, the EFL says League One clubs had not yet reached an agreement on whether to curtail or not, while the Championship teams were committed to resuming the season.___An unnamed Werder Bremen player must go into quarantine for two weeks after a close family member tested positive for COVID-19. The Hall of Fame announced the cancellations and says ticket-holders can use their tickets in 2021, convert them into a tax-deductible donation to the Hall or get a refund.___The professional tennis tours are extending their suspensions caused by the coronavirus pandemic through at least the end of July.The total number of tournaments scrapped by the ATP and WTA since March now tops 40.Both tours say they will make further scheduling announcements in June.last_img read more

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The RESNET Standard Becomes the New Ventilation Battleground

first_imgJust because I haven’t written about the jockeying over ventilation rates and strategies with the ASHRAE 62.2 committee doesn’t mean nothing’s going on. If you’ve been following the battle over this issue, you know that Joe Lstiburek, PhD, PE, got fed up with ASHRAE and introduced his own ventilation “standard” in 2013. Then the “Great Ventilation Debate” happened in Detroit, and he got back on the ASHRAE 62.2 committee.Stuff happened and now RESNET just put an interesting amendment out for public comment. Follow that?A brief history of the recent battleLet’s go over the recent history quickly because we want to get to the current state of affairs, right? (Plus I’m on an airplane that will be landing in an hour and then I’ve got to go watch the fireworks with my stepson. No, really. It’s the 4th of July.) So here’s my quick chronology.The 2010 version of the residential ventilation standard, ASHRAE 62.2, gets adopted for programs and codes. The simplified version of the rate is 1 cfm per 100 square feet of conditioned floor area (CFA) plus 7.5 cfm per person. (The number of people isn’t the actual number of people; it’s the number of bedrooms plus one.) Everyone’s happy, mostly.The 2013 version of ASHRAE 62.2 changes the first part of the calculation. It goes from 1 cfm per 100 square feet of CFA to 3 cfm per 100 square feet. The result is that the total rate nearly doubles. The natives become restless. Dr. Joe introduces BSC-01, his ventilation “standard.” (I put that in quotes because it’s not really a standard in the same sense that 62.2 is. There’s no consensus process or public comment behind it. Now that you know that, I’m going to drop the quotes, but you can do air quotes when you read it if you like.) It basically goes back to the 2010 rates of 62.2 but also includes credits to adjust the rate based on the ventilation strategy. The revolution has begun.At the 2014 Affordable Comfort conference in Detroit, the Great Ventilation Debate resulted in Dr. Joe becoming a member of the 62.2 committee again. Everyone sings Kumbaya. Got it? That’s where things were last time I wrote about this issue.The 62.2 committee discusses ratesIn 2014 I started going to the ASHRAE 62.2 committee meetings. The June meeting that year was in Seattle. Joe Lstiburek and Max Sherman spoke to each other, as you can see in the photo below (Image #2), but not much happened at that meeting.No, the first big move came at the 2015 meeting in Atlanta. There the committee voted on proposals to lower the ventilation rate and give a credit to balanced ventilation. The vote at the meeting was in favor of those proposals, but when absent committee members voted later, the proposals failed.At the 2016 meeting in St. Louis last month, the committee voted again on lowering the rate. They wanted to take the square footage part of the equation from 3 cfm per 100 square feet of CFA to 2.2 cfm per 100 square feet.Those in favor of higher rates made various arguments to support their reasoning, but none had any hard evidence behind them. Max Sherman made what I thought was the worst argument: He quoted the first ASHRAE president as saying, “Ventilation is next to godliness.” What he didn’t say was that in the 19th century, medical doctors often advised people to keep their homes closed up because they thought fresh air made people sick, so the big battle then was just to get any ventilation at all.When the committee voted, the result was 10 in favor of lowering the rate and 8 opposed. The motion failed because it needed a 2/3 majority to pass.Following that discussion, the committee considered a proposal to give a credit to ventilation systems that distributed the air throughout a home. The vote was similar. A majority voted for the credit, but not a 2/3 majority. It failed, too.Meanwhile, at the code hearings…While Lstiburek was trying to get his ideas adopted into the ASHRAE 62.2 standard, he was simultaneously working to get them adopted into the building code. The code hearings have to keep up with their three-year cycle of publishing updated codes. Since the 2015 codes came out, they’ve taken up the issue of ventilation rates.Through the 2015 IRC, the ventilation rate was set at the ASHRAE 62-1989 rate:0.35 air changes per hour but not less than 15 cfm/personLast year at the code hearings, that rate was updated to:(0.01 cfm/square foot of conditioned floor area) + (7.5 cfm/person)That’s basically the rate from the 2010 version of ASHRAE 62.2 and Lstiburek’s BSC-01. There’s no acknowledgment of the differences between ventilation strategies, though. It’s the same rate whether you do exhaust-only, supply-only, or balanced.This change has happened already. It has passed. It will be in the 2018 IRC/IECC.But there’s another part of the code that needs to be changed to realize the rate change fully. Three years ago, I wrote about something new that appeared in the last code cycle (the codes get updated every three years): The IECC adopted another compliance pathway. It’s a performance, as opposed to prescriptive, path and meeting the code is based on hitting a certain number on what they call the Energy Rating Index (ERI). That index is basically the same thing as the HERS Index and it’s in the 2015 IECC.But now the building code needs another change if they want the ERI to be calculated using the code-mandated ventilation rate rather than what RESNET says. The code has to make a change even if RESNET adopts the amendment described below because the code language for the ERI points to RESNET’s current standard. So, they’re working to fix that. The language to do so is:The ERI reference design ventilation rate shall be as specified by Equation 15-1 of Section M1507.3.3 of the International Residential Code.If it passes, that would mean the ERI will always be calculated based on the ventilation rate specified in the building code, not what RESNET or any other ERI organization specifies.RESNET’s sticky situationAnd now you know how the code change is connected to RESNET through the Energy Rating Index. That ties RESNET to the building codes pretty strongly. Actually, RESNET was bound to the code before the ERI because the HERS reference home is based on the 2004/2006 IECC.Recently, RESNET sent out a notice of a proposed amendment to the home energy rating standard. The changes mostly have to do with how the ventilation rate is calculated for the reference home, but there are a few other updates in there, too. If you download the proposed amendment, you’ll see that references to the 62.2-2013 rate are struck through and replaced with 0.01 x CFA + 7.5 x (Nbr+1) cfm.I asked Joe Lstiburek about the amendment, and he sent this response in an email:RESNET is currently in conflict with the IRC on ventilation. RESNET by referencing ASHRAE is setting a higher ventilation rate than the code. RESNET is in the ratings business, not in the business of setting ventilation rates. If other programs such as Energy Star or LEED want to set a ventilation rate in order to participate in their program, that is up to Energy Star or LEED. And RESNET should rate those houses accordingly. But in terms of rating standard newly constructed houses, RESNET should follow the code.If RESNET does not adopt this amendment then there is a high likelihood that the proposed IECC code change allowing RESNET to provide an alternative path for code compliance will lose at the Final Action Hearings in Kansas City in October unless the proposed code change is modified to bring it into compliance with the IRC. Building officials do not like third-party groups setting important code changes such as ventilation rates that the building officials do not get to approve as part of their code process.Additionally, the current language penalizes balanced ventilation in favor of exhaust ventilation. This is a bad precedent. Better ventilation systems are penalized in favor of poor ventilation systems. RESNET raters are aware of this as are builders and both are gaming the ratings system. Balanced system get rating point hits as compared to exhaust-only systems.He’s right, and there’s an important point in here that often trips people up. I got confused about it myself when I was new to the home energy rating field. A HERS rating is just an analysis. There are no thresholds you have to meet to “pass” anything. It’s supposed to be an objective look at the energy use of a house compared to a “reference home.”That’s what Lstiburek is saying in the first paragraph above. The reference home, by definition, is supposed to be based on the code. Now that the code and ASHRAE 62.2 have parted ways, RESNET has to make a choice: Do they want to stick with the building code, as they should? Or will they follow a ventilation standard that’s not being used much? I’m in favor of sticking with the code.If you’d like to learn more about the RESNET amendment or to make a comment, go to the RESNET page for this amendment. Once there, you can read the comments that have already been posted.SummaryThe building code has changed the ventilation rate required in new homes. They’re working on getting the calculation for the ERI based on the new code-required ventilation rate. If RESNET wants the HERS Index to qualify as an ERI, they need to make a change, too. Here are the three scenarios:If the code language above gets adopted and RESNET passes its amendment, the ERI will be based on the new IRC ventilation rate and the HERS Index will be the same as the ERI.If the code amendment passes but RESNET’s doesn’t, RESNET will have to make changes to calculate the ERI separately from the HERS Index. They might need to have separate calculations anyway for programs and jurisdictions that use different ventilation rates.If the code language above does not pass, the ERI path probably won’t be as appealing to builders because they’ll take a hit in ERI points for meeting code instead of ASHRAE 62.2-2013.Isn’t it fun to get into the world of ventilation standards and codes! But guess what? This isn’t new. Here’s a quote from the book Ventilation and Heating by John Shaw Billings, M.D.:“It is in the determination of [the ventilation rate] that the young architect or engineer is likely to find his chief difficulties, owing to the great divergence of opinion among the authorities to whom he will probably refer for guidance.”That was written in 1893. As it says in the Bible, there’s nothing new under the sun. Allison Bailes of Decatur, Georgia, is a speaker, writer, building science consultant, and the author of the Energy Vanguard Blog. Check out his in-depth course, Mastering Building Science at Heatspring Learning Institute, and follow him on Twitter at @EnergyVanguard. RELATED ARTICLESHow Much Fresh Air Does Your Home Need?Ventilation Rates and Human HealthDesigning a Good Ventilation System Resistance May NOT Be Futile in the Residential Ventilation WarsAn Interview with Dr. Joseph Lstiburek ASHRAE 62.2 Committee Chair Defends Ventilation StandardWhat is the Deal with Ventilation Requirements? GBA Encyclopedia: Ventilation Choices Just Right and Airtight Unintended Consequences Sucklast_img read more

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Archers survive Tams’ final rally

first_imgFEU’s Prince Orizu tries to get La Salle’s Ben Mbala out of the way, but the MVP continues to drop double-double numbers to lift the Archers past the Tamaraws . —AUGUST DELA CRUZWith reigning Ben Mbala struggling, Ricci Rivero and Jollo Go rose to the challenge anew as La Salle hammered out a thrilling 75-73 victory over Far Eastern U Wednesday to regain solo second in UAAP Season 80 basketball tournament at Smart Araneta Coliseum.Sustaining his fiery form, Rivero finished with 20 points and five steals while Go made four triples en route to 14 points as they picked up the slack for Mbala, who shot just 5-of-16 from the field for 18 points.ADVERTISEMENT Brace for potentially devastating typhoon approaching PH – NDRRMC “It was really a struggle,” said Perasol.Mbala was made to work for his points by Prince Orizu and Barkley Ebonia, but La Salle’s defense also hung tough in a tight fourth period with Andrei Caracut breaking up FEU’s final inbound play with 2.2 seconds remaining.“They focused on defending Ben (Mbala), but fortunately for us, Jollo was hitting his shots,” said La Salle assistant coach Miggy Solitaria, who has been filling in for Aldin Ayo at post-match press conferences after the loss to University of the Philippines last Sept. 23.“It was all about doing my role,” said Go, who shot 4-of-5 from beyond the arc. “I’m just grateful for the trust and confidence given to me by my teammates.”The Archers could have sealed the victory earlier, but Rivero missed a couple of free throws and intentionally missed a second foul shot that failed to hit the rim for a violation, allowing the Tamaraws one last chance of stealing the win.“We just have to stick to our system,” Solitaria said. “There’s always an impact if we don’t follow the system. Fortunately, in the last few minutes of the game, we found a way (to win).” “Every time we go up against UST, it’s always going to be a classic for us,” said UP coach Bo Perasol, whose team snapped a three-game slide.“This is just too difficult for us, because we just wanted to get another win after the three losses we had. This is something that can perk us up, make us believe again that we can still do this.”A surprise starter, Jan Jaboneta went 4-for-4 from beyond the arc to topscore with 12 points for the Maroons, who once again struggled to get baskets in the endgame.“Just imagine what would have happened if we lost that game,” said Perasol. “It was a close game; it could have been the third close game that we (lost). We’re able to make a stop in that last possession, and we’re just happy about this, all of us.”Marvin Lee cut UP’s lead to a single point with a triple in transition before Manzo split his free throws, setting the stage for a wild finish. The Maroons took control in the second period, where Manzo and Desiderio joined forces in a 13-2 burst that gave UP a 31-22 lead.ADVERTISEMENT Arellano U Presses bid for final 4 MOST READ Typhoon Kammuri accelerates, gains strength en route to PH Nonong Araneta re-elected as PFF president LATEST STORIES Read Next Don’t miss out on the latest news and information. The win allowed the Archers to break the tie for second with the Adamson Falcons as they improved to 6-2, while dealing the Tamaraws their second straight defeat for a 4-4 record.FEU’s loss also allowed University of the Philippines to catch up at fourth spot as the Fighting Maroons slipped past University of Santo Tomas, 71-69, earlier.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutJun Manzo split his free throws with seven seconds remaining, before the Maroons watched Marvin Lee’s triple rim out at the buzzer as they escaped with a narrow win just like in the first round when Paul Desiderio nailed a triple as time expired to lift UP.It was the eighth straight loss for the Tigers, who once again showed plenty of fight in the final period, before falling short. Deaf personalities everyone should know PLAY LIST 04:26Deaf personalities everyone should know05:01What the Deaf want the hearing to know01:24Life lessons the hearing can learn from the Deaf01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games LOOK: Loisa Andalio, Ronnie Alonte unwind in Amanpulo for 3rd anniversary Kammuri turning to super typhoon less likely but possible — Pagasa Fire hits houses in Mandaluyong City Frontrow holds fun run to raise funds for young cancer patients  BSP sees higher prices in November, but expects stronger peso, low rice costs to put up fight View commentslast_img read more

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The breakdown in gold prices over the last few yea

first_imgThe breakdown in gold prices over the last few years has confounded many a goldbug, primarily in the face of massive monetary stimulus programs from central banks around the world. While some economists argue that the deflationary forces stemming from the 2007-08 financial collapse has kept runaway inflation in check, there could be additional factors in play that are distorting the realities of the market and the investors that operate within it. Bud Conrad, Chief Economist for Casey Research, has been monitoring this disconnect within the gold market for quite some time. His research has brought him to make a compelling case that may scare—and perhaps anger—many investors. However, that same conclusion could mean the tide may be finally turning for those bullish on gold in the near future. Equities.com had the opportunity to speak with Bud to get his perspective on what gold investors really need to be focusing on right now. He’ll also be discussing this issue in further detail in his keynote address at the upcoming San Francisco Metals & Minerals Investment Conference. EQ: You’ve long been a recommender of gold and related resource investments. Could you discuss some of the long-term reasons why it’s still a good idea to invest in gold now? Conrad:It’s really a commitment to the belief that the world governments are now in a position to destroy all their currencies by printing too much of them, and they are actually doing it. I’ve actually written a book on this, Profiting from the World’s Economic Crisis (2010). So that’s given me a mission to look for investment opportunities as the governments gave us a one way ticket to destruction of currencies that we as individuals need to protect ourselves from. I’ve been recommending gold for years, back into the early 2000s. Actually, I traded gold in the late ‘70s as well, which puts a little aging gray hair on my perspective. I can quote phrase and verse of projections of government debt deficits and all that stories are in the news, but I’ll pick one thing to point out. If you take the current debt of the federal government, which is at $17 trillion, and add $800 billion per year for four years–that’s $20 trillion. Now if interest rates move from the current close-to-zero for short term and about 1 or 2 percent for long term, to the natural expected interest rate of 5 percent, what does that come out to? Well, 5 percent of $20 trillion is $1 trillion! That’s about half of the tax income of the government, which is around $2.5 trillion right now. In other words, interests can overwhelm and make clear that the government is bankrupt. That’s why the rates are forced down to unreasonably low levels by the Fed. And it basically says that the Fed is never going to stop printing. They’re going to try and keep driving us over the cliff rather than to just the edge. This will blow up sometime in my lifetime. EQ: Who are the important buyers of gold that you’re watching right now? Conrad:The big shift has been Asia. China imports from Hong Kong. This year, it’s projected to import 1,000 tons. Now, a lot of people don’t know what 1,000 tons actually means. It’s about half of the world, excluding China’s production, of gold. That’s a huge amount. But that’s not all they import. They import through other sources into Shanghai where they have a gold exchange that delivers gold. And if you put all that together, it’s possible that China is actually importing almost as much as the rest of the world’s total production of gold. If you look at the resources available in the COMEX Warehouses, which is where gold is traded in futures markets, they’re in big decline. They’re falling from 11 million ounces to 7 million ounces of all kinds. The actual amount that is deliverable is now under 1 million ounces, identified as registered. That amount is trivial considering the size of the market. Many of the warehouses around the world publish how much they’re holding, and the biggest is the SPDR Gold Shares ($GLD). It’s dropped to around 20 to 15 million ounces in the last year. And this is during a time that our governments’ deficits should be driving people into gold for investment purposes, and the warehouse stocks are disappearing. The net of all that is that the price should be going up by all the measures that are obvious to us. EQ: From a long-term perspective, over the past decade or so gold is still looking fine, but it kind of broke down about two years ago after it hit its peak. What happened? Conrad: The most interesting piece that I have done in the last couple of months is to look at the details of the futures market’s operations. I’ve been a commodities trader for a number of years, so I can interpret these detailed, insider things. The price you see every day, all-day long when you see gold moving is actually the quote from the COMEX futures exchange trading floor. So we use the futures market to define the price of gold throughout the world. When you go in to buy your gold coin at the bullion dealer, they say, “Well, gold closed at this on the futures market, this is what the price is with the mark up.” That’s what people kind of believed was an honest price. They think it’s a large market with a lot of traders, but a very small portion of it is actually delivered at the end of a contract’s expiration. And that delivery process, it turns out, is managed by the biggest bullion bank: JP Morgan (JPM) . I have the data and stats and plan on presenting it in the current article I’m producing for Casey Research through The Casey Report. I’ll also be presenting it at the San Francisco Metals and Minerals Investment Conference. But my point is that JP Morgan has delivered 69 percent of the gold so far this year in the delivery process. That is clear dominance of the market with a direction that says that they have been pushing the market down. EQ: What would be the motivations of banks like JP Morgan to keep rates down and gold prices down? Conrad:Well, from JP Morgan’s standpoint, they are a big bank that makes money when interest rates are low. The Federal Reserve has been printing up new money to go out and buy up what I call a combination of toxic waste and government debt—it’s hard to tell the difference sometimes, but that’s my bias—to drive the price up, and therefore, the interest rate down. They can do this to a limit, and that limit is when the dollar starts collapsing because people recognize that the central bank is putting up too much money. One of the leading indicators for that is whether gold is rising dramatically in price, keeping stable, or going down. So there’s an incentive for the big banks to manufacture these low interest rates and they do this through different kinds of interest rate products. This allows them to borrow at zero percent from the Fed and lend it out at the higher mortgage rate or corporate rate, and make money on that spread. But if gold were to take off, that would be a big problem for the Fed and the confidence in the dollar, limiting the Fed’s ability to sustain the low rate, and therefore, it’s advantageous to have gold not take off. And if you’re 70 percent of the market, you almost don’t care whether you’re going long or short. If you’re manipulating it, you can make money out of it anyhow. There’s no regard for people that are thinking about long-term investments and looking at the current price as if it were a meaningful market definition of the value of the dollar. It’s defined by the supply and demand, and JP Morgan is a huge portion of what is now a distorted futures market. EQ: Assuming JP Morgan has the motive, won’t they eventually have to cover their short positions, and in turn, eliminate the effects of the original attempt to manipulate those prices? Conrad:Theoretically, the futures market is a zero-sum game where for every person long, there’s somebody short, and by the time of expiration it’s all supposed to be sorted out. But most people don’t realize that if you have a short position, you can deliver against it with physical gold. That’s exactly what JP Morgan has been doing. You never have to remove your short position if you have the gold to deliver. So in the rather rarified and much smaller portion of the market where physical gold is delivered, these big banks hold an edge on how they trade. The reason is each unit is 100 ounces, which translates to about $135,000 per unit. So it’s not for small mom and pops to play in. The big banks can actually take positions and never have to cover them until they actually deliver the metal, which is exactly what they’ve been doing. EQ: So where are the regulators here? How is this all legal? Conrad: Where are the regulators? Just recently, the U.S. Commodity Futures Trading Commission announced that they were going to vote on imposing some position limits. Well, they’ve been working on that since 2008. Bart Chilton, one of the CFTC Commissioners, is removing his name for re-nomination, which meant that he wasn’t going to be re-nominated. So they don’t actually do anything, and as a result, JP Morgan gets away with it. But let’s go a little step further; remember LIBOR? Oh no, big banks will never mess up the setting of a world market rate. Then there’s JP Morgan paying $13 billion–not million, billion–for fraud with its mortgage systems. It has $23 billion on its books for potential payouts for various different kinds of frauds from energy markets to foreign currency. And just recently, we saw several banks remove foreign currency traders from their positions in London. It goes on and on. If you just read the news and think about it, gold is a prime target for a manipulated situation since it’s much smaller than these other markets, and therefore, capable of being manipulated. And JP Morgan admits to having $70 billion of gold futures on its derivative books, according to the Office of the Comptroller of the Currency. Why would you think they wouldn’t be manipulating the market? And in this case, it appears everything they’re doing is legal. They can drive the price where they want. They know what they’re doing. They are the market. EQ: So if you’re a gold investor what do you do here? Conrad:Well, if you look very closely, something important has changed. For years, JP Morgan has been short the gold market and driving it down. They did it very actively as gold supply started to disappear, particularly from their own warehouse. But, and here’s the key, they’re no longer short. They just went long this last year. So their net advantage to themselves would no longer be to drive the gold market down for their trading purposes. They are much less likely to be a source of driving prices down. In fact, they are much more likely to be driving it the other way. We’ll see if that plays out, but I think it’s a good reason for a trader to feel less scared about the fact that we’ve had a period of time where gold was driven down. As foreigners demand and get delivery of gold, the shortages that we saw over the last two years ago will become more common. So gold prices will rise as a result, especially as people realize they need to protect themselves from the government’s spendthrift ways, which is obvious to all of us following the news. EQ: So it sounds like there’s going to be some major shifts here and maybe some opportunities for investors in this space. And as you stated, you’re going to detail this in your presentation at the upcoming Metals and Minerals event in San Francisco. What are some other discussions or themes that you enjoy when you attend events like these? Conrad:Well, I gave a talk in Tucson, Arizona a little over a month ago to an audience who had just heard about the decline and fall of the Roman Empire. So I decided to take a little different approach and started with blowing up a balloon that I had written “Bonds” on. You get the point. Someone ran up and hit it with a big pointed thing to make it burst. There are many things to say about the world market, but I don’t think we should be trusting that these interest rates–which were at a bottom about a year or so ago—will ever return to that low as people lose confidence in these paper money systems. How to trade that is also very complicated, but it’s rather simple to understand. People want to get at least the purchasing power of their money back or they won’t lend it out. So that general trend back toward higher rates will happen despite what the Fed does to try and stop it from happening. EQ: Any closing comments for the investment community? Conrad: We don’t operate in an ivory tower vacuum of economics nerdism, which is what I would certainly label myself. We operate in a changing society and in a world I see that is heading into difficulties. I don’t like that the wars we’re in were taken on as a matter of choice, which seems like the worst way to go to war. I don’t like the lack of confidence in financial systems almost everywhere. We have a government that is bought and paid for by the largest bidder. There are so many things that will affect our future beyond just counting how many gold bars there are in a given warehouse. All that is part of the fabric that we need to be aware of when we are making our investments. What’s really going on in the gold market, and why does Bud think the gold price is much lower than it would be in an honest and transparent market? Read his in-depth analysis in the current issue of The Casey Report. You don’t risk anything trying it for 3 months—love it or your money back. Click here to get started.last_img read more

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Legislation that would allow terminally ill patien

first_imgLegislation that would allow terminally ill patients to get access to experimental drugs is headed to the president’s desk.The House on Tuesday passed a “right-to-try” bill that was approved by the Senate in 2017.”People who are terminally ill should not have to go from country to country to find a cure,” said Rep. Michael Burgess, R-Texas, on the House floor Tuesday.The bill, which President Trump is expected to sign, has patient advocates divided.Patient groups including the American Cancer Society Cancer Action Network and the American Lung Association opposed the bill. They say it could do more harm than good by giving patients access to drugs that may, in the end, shorten their lives.Advocates say the bill would make it easier for patients to get access to experimental drugs that have completed the first phase of clinical trials and are in the midst of additional testing. It eliminates the role of the Food and Drug Administration in the approval process and reduces the threshold for patients to receive the medicines. Critics say that removing the FDA from the process could raise the risks for patients.FDA Commissioner Scott Gottlieb said on Twitter that he’s “comfortable” with the bill and later that he is prepared to implement the law “in a way that achieves Congress’ intent to promote access and protect patients.”Patients will still need approval from a doctor and the pharmaceutical company to be able to use the unapproved medications. Drug companies aren’t obligated to provide them.The FDA already has authority to allow terminally ill patients to get these medications, after they have exhausted all other treatment options. The agency says it approves more than 99 percent of the the requests for expanded access to experimental medicines. In fiscal 2017, the FDA approved 1,831 applications for expanded access to experimental medicines out of 1,842 filed.Several patients groups that oppose the legislation argue patients already have access to experimental drugs, sometimes called compassionate use, and the bill will reduce oversight.Michael Becker, a former biotech executive who is dying from cancer, told NPR’s Scott Simon in February that he opposes “right to try.””The problem becomes that you have a lot of false hope as a terminal cancer patient. You want to cling to anything that’s going to sound like it’s an opportunity to live longer or have a better quality of life,” he said. “That hope can sometimes cover up the realities of some of the more sinister aspects of getting a drug, which are things go wrong. So I could take a drug that was purported to help me, and it may actually make my condition worse.”But many patients or relatives of people with terminal illnesses want it to be easier to get drugs of last resort.Laura McLinn, whose son Jordan’s name is on the bill passed Tueday, told Indiana Public Media that she supported a similar bill in her state because it would allow her son to try an experimental treatment for his muscular dystrophy.”This is not a cure but to us, it’s pretty close,” McLinn said at the time. “This is a drug that could add many, many years to my son’s life.” Copyright 2018 NPR. To see more, visit http://www.npr.org/.last_img read more

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