Archives 2018

Police station attacked by car bomb in Basque Country, two officers injured

Friday, August 24, 2007

A police station of the Spanish Guardia Civil was attacked today Friday by a car bomb in the Basque city of Durango, injuring two policemen. It is believed to be the first serious attack of the separatist group ETA since it unilaterally ended a cease-fire in June. The blast caused serious damage to the police barracks in Durango, shattering windows and damaging police cars parked outside. Several nearby apartment buildings were also damaged. Police sources believe the bomb, estimated to contain between 80 and 100 kilograms of explosives, was detonated remotely by one of the two attackers who fled in another vehicle. Another car exploded about one hour later in the town of Amorebieta, possibly the one used by the activists to flee.

ETA detonated two small explosive devices on July 25 along the route that the Tour of France used when the race dipped into northern Spain for a few hours.

ETA called the cease-fire in March 2006, but grew frustrated with a lack of government concessions in ensuing peace talks, and set off a huge bomb in a parking area at Madrid’s airport on December 30, killing two people. It insisted then that the truce was still in effect, but finally declared it formally over in June, and Spanish security forces have been on alert ever since.

G20 protests: Inside a labour march

Wikinews accredited reporter Killing Vector traveled to the G-20 2009 summit protests in London with a group of protesters. This is his personal account.

Friday, April 3, 2009

London – “Protest”, says Ross Saunders, “is basically theatre”.

It’s seven a.m. and I’m on a mini-bus heading east on the M4 motorway from Cardiff toward London. I’m riding with seventeen members of the Cardiff Socialist Party, of which Saunders is branch secretary for the Cardiff West branch; they’re going to participate in a march that’s part of the protests against the G-20 meeting.

Before we boarded the minibus Saunders made a speech outlining the reasons for the march. He said they were “fighting for jobs for young people, fighting for free education, fighting for our share of the wealth, which we create.” His anger is directed at the government’s response to the economic downturn: “Now that the recession is underway, they’ve been trying to shoulder more of the burden onto the people, and onto the young people…they’re expecting us to pay for it.” He compared the protest to the Jarrow March and to the miners’ strikes which were hugely influential in the history of the British labour movement. The people assembled, though, aren’t miners or industrial workers — they’re university students or recent graduates, and the march they’re going to participate in is the Youth Fight For Jobs.

The Socialist Party was formerly part of the Labour Party, which has ruled the United Kingdom since 1997 and remains a member of the Socialist International. On the bus, Saunders and some of his cohorts — they occasionally, especially the older members, address each other as “comrade” — explains their view on how the split with Labour came about. As the Third Way became the dominant voice in the Labour Party, culminating with the replacement of Neil Kinnock with Tony Blair as party leader, the Socialist cadre became increasingly disaffected. “There used to be democratic structures, political meetings” within the party, they say. The branch meetings still exist but “now, they passed a resolution calling for renationalisation of the railways, and they [the party leadership] just ignored it.” They claim that the disaffection with New Labour has caused the party to lose “half its membership” and that people are seeking alternatives. Since the economic crisis began, Cardiff West’s membership has doubled, to 25 members, and the RMT has organized itself as a political movement running candidates in the 2009 EU Parliament election. The right-wing British National Party or BNP is making gains as well, though.

Talk on the bus is mostly political and the news of yesterday’s violence at the G-20 demonstrations, where a bank was stormed by protesters and 87 were arrested, is thick in the air. One member comments on the invasion of a RBS building in which phone lines were cut and furniture was destroyed: “It’s not very constructive but it does make you smile.” Another, reading about developments at the conference which have set France and Germany opposing the UK and the United States, says sardonically, “we’re going to stop all the squabbles — they’re going to unite against us. That’s what happens.” She recounts how, in her native Sweden during the Second World War, a national unity government was formed among all major parties, and Swedish communists were interned in camps, while Nazi-leaning parties were left unmolested.

In London around 11am the march assembles on Camberwell Green. About 250 people are here, from many parts of Britain; I meet marchers from Newcastle, Manchester, Leicester, and especially organized-labor stronghold Sheffield. The sky is grey but the atmosphere is convivial; five members of London’s Metropolitan Police are present, and they’re all smiling. Most marchers are young, some as young as high school age, but a few are older; some teachers, including members of the Lewisham and Sheffield chapters of the National Union of Teachers, are carrying banners in support of their students.

Gordon Brown’s a Tory/He wears a Tory hat/And when he saw our uni fees/He said ‘I’ll double that!’

Stewards hand out sheets of paper with the words to call-and-response chants on them. Some are youth-oriented and education-oriented, like the jaunty “Gordon Brown‘s a Tory/He wears a Tory hat/And when he saw our uni fees/He said ‘I’ll double that!'” (sung to the tune of the Lonnie Donegan song “My Old Man’s a Dustman“); but many are standbys of organized labour, including the infamous “workers of the world, unite!“. It also outlines the goals of the protest, as “demands”: “The right to a decent job for all, with a living wage of at least £8 and hour. No to cheap labour apprenticeships! for all apprenticeships to pay at least the minimum wage, with a job guaranteed at the end. No to university fees. support the campaign to defeat fees.” Another steward with a megaphone and a bright red t-shirt talks the assembled protesters through the basics of call-and-response chanting.

Finally the march gets underway, traveling through the London boroughs of Camberwell and Southwark. Along the route of the march more police follow along, escorting and guiding the march and watching it carefully, while a police van with flashing lights clears the route in front of it. On the surface the atmosphere is enthusiastic, but everyone freezes for a second as a siren is heard behind them; it turns out to be a passing ambulance.

Crossing Southwark Bridge, the march enters the City of London, the comparably small but dense area containing London’s financial and economic heart. Although one recipient of the protesters’ anger is the Bank of England, the march does not stop in the City, only passing through the streets by the London Exchange. Tourists on buses and businessmen in pinstripe suits record snippets of the march on their mobile phones as it passes them; as it goes past a branch of HSBC the employees gather at the glass store front and watch nervously. The time in the City is brief; rather than continue into the very centre of London the march turns east and, passing the Tower of London, proceeds into the poor, largely immigrant neighbourhoods of the Tower Hamlets.

The sun has come out, and the spirits of the protesters have remained high. But few people, only occasional faces at windows in the blocks of apartments, are here to see the march and it is in Wapping High Street that I hear my first complaint from the marchers. Peter, a steward, complains that the police have taken the march off its original route and onto back streets where “there’s nobody to protest to”. I ask how he feels about the possibility of violence, noting the incidents the day before, and he replies that it was “justified aggression”. “We don’t condone it but people have only got certain limitations.”

There’s nobody to protest to!

A policeman I ask is very polite but noncommittal about the change in route. “The students are getting the message out”, he says, so there’s no problem. “Everyone’s very well behaved” in his assessment and the atmosphere is “very positive”. Another protestor, a sign-carrying university student from Sheffield, half-heartedly returns the compliment: today, she says, “the police have been surprisingly unridiculous.”

The march pauses just before it enters Cable Street. Here, in 1936, was the site of the Battle of Cable Street, and the march leader, addressing the protesters through her megaphone, marks the moment. She draws a parallel between the British Union of Fascists of the 1930s and the much smaller BNP today, and as the protesters follow the East London street their chant becomes “The BNP tell racist lies/We fight back and organise!”

In Victoria Park — “The People’s Park” as it was sometimes known — the march stops for lunch. The trade unions of East London have organized and paid for a lunch of hamburgers, hot dogs, french fries and tea, and, picnic-style, the marchers enjoy their meals as organized labor veterans give brief speeches about industrial actions from a small raised platform.

A demonstration is always a means to and end.

During the rally I have the opportunity to speak with Neil Cafferky, a Galway-born Londoner and the London organizer of the Youth Fight For Jobs march. I ask him first about why, despite being surrounded by red banners and quotes from Karl Marx, I haven’t once heard the word “communism” used all day. He explains that, while he considers himself a Marxist and a Trotskyist, the word communism has negative connotations that would “act as a barrier” to getting people involved: the Socialist Party wants to avoid the discussion of its position on the USSR and disassociate itself from Stalinism. What the Socialists favor, he says, is “democratic planned production” with “the working class, the youths brought into the heart of decision making.”

On the subject of the police’s re-routing of the march, he says the new route is actually the synthesis of two proposals. Originally the march was to have gone from Camberwell Green to the Houses of Parliament, then across the sites of the 2012 Olympics and finally to the ExCel Centre. The police, meanwhile, wanted there to be no march at all.

The Metropolitan Police had argued that, with only 650 trained traffic officers on the force and most of those providing security at the ExCel Centre itself, there simply wasn’t the manpower available to close main streets, so a route along back streets was necessary if the march was to go ahead at all. Cafferky is sceptical of the police explanation. “It’s all very well having concern for health and safety,” he responds. “Our concern is using planning to block protest.”

He accuses the police and the government of having used legal, bureaucratic and even violent means to block protests. Talking about marches having to defend themselves, he says “if the police set out with the intention of assaulting marches then violence is unavoidable.” He says the police have been known to insert “provocateurs” into marches, which have to be isolated. He also asserts the right of marches to defend themselves when attacked, although this “must be done in a disciplined manner”.

He says he wasn’t present at yesterday’s demonstrations and so can’t comment on the accusations of violence against police. But, he says, there is often provocative behavior on both sides. Rather than reject violence outright, Cafferky argues that there needs to be “clear political understanding of the role of violence” and calls it “counter-productive”.

Demonstration overall, though, he says, is always a useful tool, although “a demonstration is always a means to an end” rather than an end in itself. He mentions other ongoing industrial actions such as the occupation of the Visteon plant in Enfield; 200 fired workers at the factory have been occupying the plant since April 1, and states the solidarity between the youth marchers and the industrial workers.

I also speak briefly with members of the International Bolshevik Tendency, a small group of left-wing activists who have brought some signs to the rally. The Bolsheviks say that, like the Socialists, they’re Trotskyists, but have differences with them on the idea of organization; the International Bolshevik Tendency believes that control of the party representing the working class should be less democratic and instead be in the hands of a team of experts in history and politics. Relations between the two groups are “chilly”, says one.

At 2:30 the march resumes. Rather than proceeding to the ExCel Centre itself, though, it makes its way to a station of London’s Docklands Light Railway; on the way, several of East London’s school-aged youths join the march, and on reaching Canning Town the group is some 300 strong. Proceeding on foot through the borough, the Youth Fight For Jobs reaches the protest site outside the G-20 meeting.

It’s impossible to legally get too close to the conference itself. Police are guarding every approach, and have formed a double cordon between the protest area and the route that motorcades take into and out of the conference venue. Most are un-armed, in the tradition of London police; only a few even carry truncheons. Closer to the building, though, a few machine gun-armed riot police are present, standing out sharply in their black uniforms against the high-visibility yellow vests of the Metropolitan Police. The G-20 conference itself, which started a few hours before the march began, is already winding down, and about a thousand protesters are present.

I see three large groups: the Youth Fight For Jobs avoids going into the center of the protest area, instead staying in their own group at the admonition of the stewards and listening to a series of guest speakers who tell them about current industrial actions and the organization of the Youth Fight’s upcoming rally at UCL. A second group carries the Ogaden National Liberation Front‘s flag and is campaigning for recognition of an autonomous homeland in eastern Ethiopia. Others protesting the Ethiopian government make up the third group; waving old Ethiopian flags, including the Lion of Judah standard of emperor Haile Selassie, they demand that foreign aid to Ethiopia be tied to democratization in that country: “No recovery without democracy”.

A set of abandoned signs tied to bollards indicate that the CND has been here, but has already gone home; they were demanding the abandonment of nuclear weapons. But apart from a handful of individuals with handmade, cardboard signs I see no groups addressing the G-20 meeting itself, other than the Youth Fight For Jobs’ slogans concerning the bailout. But when a motorcade passes, catcalls and jeers are heard.

It’s now 5pm and, after four hours of driving, five hours marching and one hour at the G-20, Cardiff’s Socialists are returning home. I board the bus with them and, navigating slowly through the snarled London traffic, we listen to BBC Radio 4. The news is reporting on the closure of the G-20 conference; while they take time out to mention that Canadian Prime Minister Stephen Harper delayed the traditional group photograph of the G-20’s world leaders because “he was on the loo“, no mention is made of today’s protests. Those listening in the bus are disappointed by the lack of coverage.

Most people on the return trip are tired. Many sleep. Others read the latest issue of The Socialist, the Socialist Party’s newspaper. Mia quietly sings “The Internationale” in Swedish.

Due to the traffic, the journey back to Cardiff will be even longer than the journey to London. Over the objections of a few of its members, the South Welsh participants in the Youth Fight For Jobs stop at a McDonald’s before returning to the M4 and home.

Smoke from massive warehouse fire in Buffalo, New York USA can be seen 40 miles away

Monday, May 14, 2007

Buffalo, New York —A massive warehouse complex of at least 5 buildings caught on fire in Buffalo, New York on 111 Tonawanda Street, sending a plume of thick, jet black colored smoke into the air that could be seen as far away as 40 miles.

As of 6:40 a.m., the fire was under control, and firefighters were attempting to stop it from spreading, but could not get to the center of the fire because of severe amounts of debris. Later in the morning, the fire was extinguished.

“The fire is mostly under debris at this point. It’s under control, but it’s under some debris. We really can’t get to it. We’re just going to have to keep on pouring water on it so it doesn’t spread,” said Thomas Ashe, the fire chief for the North Buffalo based fire division who also added that at one point, at least 125 firefighters were on the scene battling the blaze. One suffered minor injures and was able to take himself to the hospital to seek medical attention.

Shortly after 8:00 p.m. as many as 3 explosions rocked the warehouse sending large mushroom clouds of thick black smoke into the air. After the third explosion, heat could be felt more than 100 feet away. The fire started in the front, one story building then quickly spread to three others, but fire fighters managed to stop the flames from spreading onto the 3 story building all the way at the back.

According to a Buffalo Police officer, who wished not to be named, the fire began at about 7:00 p.m. [Eastern time], starting as a one alarm fire. By 8:00 p.m., three fire companies were on the scene battling the blaze. Police also say that a smaller fire was reported in the same building on Saturday night, which caused little damage.

At the start of the fire, traffic was backed up nearly 4 miles on the 198 expressway going west toward the 190 Interstate and police had to shut down the Tonawanda street exit because the road is too close to the fire.

At one point, traffic on the 198 was moving so slow, at least a dozen people were seen getting out of their cars and walking down the expressway to watch the fire. That prompted as many as 10 police cars to be dispatched to the scene to force individuals back into their cars and close off one of the 2 lanes on the westbound side.

One woman, who wished not to be named as she is close to the owner of the warehouse, said the building is filled with “classic cars, forklifts, and money” and that owner “does not have insurance” coverage on the property. The building is not considered abandoned, but firefighters said that it is vacant.

Officials in Fort Erie, Ontario were also swamped with calls to fire departments when the wind blew the smoke over the Niagra River and into Canada.

It is not known what caused the fire, but a car is suspected to have caught on fire and there are reports from police and hazmat crews, that there were also large barrels of diesel fuel being stored in one building. Firefighters say the cause of the blaze is being treated as “suspicious.” The ATF is investigating the fire and will bring dogs in to search the debris.

Even A Chicken Can Get Lasik Surgery

By David Riewe

If you take the time to read any of the message boards or chat rooms on the Internet about Lasik surgery, you will wonder how anyone could get the courage to schedule a Lasik procedure, and why on earth they would want it. The various Lasik clinics sound anywhere from impersonal to something similar to Dr. Frankenstein’s lab, and the Lasik procedure itself sounds, well, surreal. It seems like the only people that would get Lasik are those with such bad vision that they cannot get out of bed without their glasses on.

Well, let me give you my story of how I chose Lasik. First of all, my vision is not good, but not terrible either. I can actually go to movies and see well enough to enjoy the film without glasses, but I need glasses to drive in order to read the street signs far enough away to act on the information. So for me, Lasik was not necessary, but I figured would simplify my life. I am outdoors very frequently, backpacking, climbing hills, and mountain biking. Glasses do not last long with me, and I am frequently grinding into the dirt which is not the best situation for contact lenses. For these reasons, Lasik looked very appealing.

The paragraph above might make you think I am a “manly guy” (hope so, think so!), so why on earth would I be afraid of a little Lasik scalpel? OK, technically Lasik does NOT use a scalpel but rather a “microkeratome blade”, but it is still a sharp object approaching my eye as part of the Lasik procedure. Nowadays Lasik physicians can get a laser to cut the flap in the eye, which is more than a little better than a sharp blade. But anyway, I had too many spills in my life to think any sharp object nearing my eye was a good idea, even under the skilled hands of a Lasik physician.

[youtube]http://www.youtube.com/watch?v=pmdN7CYMJS0[/youtube]

After talking with three (yes, three!) independent Lasik physicians, they each assured me that a 28 year old guy in nearly perfect health (OK, I exaggerate a bit) with moderate nearsightedness was one of the very best candidates for a successful Lasik procedure. I decided to schedule my Lasik procedure with the one that had the best track record, and coincidentally took the most time to explain everything about Lasik to me.

The Lasik surgery was not painful, though I accepted nearly everything they offered to give me comfort, including a sedative and a teddy bear. (I even went back to take a picture of me and the Lasik comforting teddy bear.) The only strange thing I remember about the Lasik procedure itself was a smell, something vaguely like hair burning. I suppose that was my eye. I am kind of glad they didn’t tell me to expect that before the Lasik procedure, I am not sure I would have gone in.

After a few years, I guess I was a nearly perfect Lasik client, as my eyes now have 20/20 vision and have remained stable long after the Lasik operation. I say that if you are a good candidate for a Lasik vision correction procedure, grab that teddy bear and go on in.

About the Author: David Riewe is the Editor of Daves Health Buzz. Daves Health Buzz covers a wide variety of health and wellness related topics. Visit

Daves Health Buzz

for the latest

Lasik Eye Surgery

information

Source:

isnare.com

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CanadaVOTES: Liberal Dr. Eric Hoskins running in Haldimand—Norfolk

On October 14, 2008, Canadians will be heading to the polls for the federal election. Liberal candidate Dr. Eric Hoskins is standing for election in the riding of Haldimand—Norfolk.

Wikinews contacted Dr. Eric Hoskins, to talk about the issues facing Canadians, and what they and their party would do to address them. Wikinews is in the process of contacting every candidate, in every riding across the country, no matter their political stripe. All interviews are conducted over e-mail, and interviews are published unedited, allowing candidates to impart their full message to our readers, uninterrupted.

For more information, visit the campaign’s official website, listed below.

Explosives found in Malegaon, Nashik, India

Wednesday, September 13, 2006

Police in the town of Malegaon have recovered explosives from a yellow container placed in the Mohammadiya Madrassa shopping complex on Kidwai Road. A bomb disposal squad has been rushed to the site, and the surrounding area has been cordoned off. Officers from the Anti-Terrorist Squad, along with IG P.K Jain and Superintendent of Police Rajyawardhan, are also at the site. Jain, however refused to confirm whether the device was a bomb, saying only that it was a “suspicious looking container with wires and a battery attached to it.” He said that if it was indeed an IED, police would either attempt to defuse it, or detonate it in an isolated area.

Meanwhile, police in Nashik have seized 11 detonators, 5 blasting gelatin(gelignite) sticks and a revolver from a building named Raj Sarthi. At least 38 people were killed and over 180 injured on 8 September, when three bombs went off near the Hamidia Mosque during the Shab-e-Barat festival. Although the communally sensitive town has so far been quiet, officials have once again declared an alert in Malegaon.

2012 Olympics clash with Ramadan

Sunday, October 15, 2006

Muslim groups from across the world are criticising the organisers of the 2012 Olympics in London after it was revealed that the games will take place over Ramadan. The most holy month in the Muslim calendar, which will take place from the 21 July to 20 August in 2012, involves fasting during daylight hours and will affect an estimated 3,000 athletes.

Joanna Manning Cooper, spokesman for the games said: “We did know about it when we submitted our bid and we have always believed that we could find ways to accommodate it.”Nevertheless, this will come as a huge embarrassment for the organisers who have tried to ensure the event involve all of Britain’s ethnic communities.A quarter of the athletes who took part in the 2004 Athens Olympics were from predominantly Muslim countries and the fast will put any athletes involved at a clear disadvantage.

The chairman of the Islamic Human Rights Commission, Massoud Shadjared said: “This is going to disadvantage the athletes and alienate the Asian communities by saying they don’t matter. It’s not only going to affect the participants, it’s going to affect all the people who want to watch the games.”

The president of the National Olympic Committee of Turkey, Togay Bayalti, said: “This will be difficult for Muslim athletes. They don’t have to observe Ramadan if they are doing sport and travelling but they will have to decide whether it is important to them. “It would be nice for the friendship of the Games if they had chosen a different date.”

The games will run from the 27 July to 12 August to coincide with the British Summer holidays. The summer holidays are a six week period running from mid July to early September. During this time, public transportation is generally less crowded and it will be easier to find the 70,000 volunteers needed to keep the games running. The International Olympics Committee has specified that the games must take place between July 15 to August 31. Giselle Davies, IOC spokesperson said, “We give a window to the five bid cities. The host city selects the dates within that window.”

The organisers are working with the Muslim Council of Great Britain to find ways around the problem.

Wikimania 2008: MediaWiki use in the U.S. Department of State

This article mentions the Wikimedia Foundation, one of its projects, or people related to it. Wikinews is a project of the Wikimedia Foundation.

Sunday, July 20, 2008

The last day of the Wikimania 2008 conference saw Saturday morning sessions on a variety of topics. Wikinews attended a presentation by Eric M. Johnson from the United States Department of State. Eric, a former NCO in the U.S. Marines, is the lead for the Knowledge Management Action team in the department’s Office of eDiplomacy, and involved in department’s use of Web 2.0 technologies for knowledge management. This includes blogs, and the key focus of his talk, Wiki culture in the U.S. Department of State.

Eric opened his presentation with an introduction to the U.S. State Department, one of the oldest agencies of the American government, which today has around 57,000 employees worldwide. When formed in the 18th century their offices and diplomatic staff operated largely autonomously due to lack of ability to communicate rapidly. By the mid-20th century this had changed with the advent of telegraph lines, and changed again with the Cold War and security concerns bringing to the fore the well-known term, “need to know”.

Now, in the 21st century, the volume of internal communication generated by the department is a staggering 1,800,000 cables a year, 1.5 billion emails, production of around 500,000 print volumes, and maintenance of approximately one thousand websites. Both internal and externally facing.

A pilot project was set up, Diplopedia, a MediaWiki wiki running on the department’s internal network, which outside of the department of defence is one of the largest private networks operated by the U.S. government.

A grassroots effort, this project to promote knowledge sharing differs from the well-known Wikipedia in that it does not allow anonymous edits. There are around 1,000 registered users who have contributed over 4,400 pages. Integration with the Department of State’s internal search engine prioritises results from the wiki, increasing the popularity of the site such that it has received over 650,000 page views. Like Wikipedia, users are required to provide sources for entered information at the foot of the article, and users are warned that it is a starting point and not an authoritative source of information. Data on visa requirements and information from other static department sites has been incorporated into the wiki.

Eric described the project as just reaching critical mass and attracting increasing interest from other departments. Among the ingredients leading to the success of the project were the cultural change with increasing awareness of the technology from Wikipedia, the formation by the community of a welcoming committee, and the taking on of roles to carry out tasks such as drafting. A number of staff act as “gardeners” tending to the wiki content, keeping it fresh, and well cross-referenced. The continual updating is a novel concept to many of their employees.

Unlike Wikipedia, and many other projects using MediaWiki, none of the Diplopedia pages are locked or protected. This even includes their main page. To date there have been none of the content disputes that have been an issue on Wikipedia, and the use of the wiki to replace traditional websites which are far more time consuming to maintain is seen as a logical extension of the project.

Carried out with no outside help, and by learning from others’ mistakes, the department has adopted mechanisms for assuming that contributions are well-intentioned, and has a body for oversight in the event of a dispute.

With the success of the project, eDiplomacy plans to introduce a separate, classified wiki. They will also expand the effort to compile biographies of foreign leaders, which was pioneered by the U.S. missions in Italy and Germany. This effort has proven valuable when combined with a version of the site available on portable devices such as the Blackberry.

The future holds moves to seek more support from management and integration with their primary authentication system. Among the features on the main page to keep the project interesting to staff is a “Diploquiz” which poses a weekly trivia question which can be answered from somewhere within the wiki.

Wikinews wanders the Referendum-year Edinburgh Festival Fringe

Wednesday, August 27, 2014

With many venues reporting sell-out shows, the 68th year of the Edinburgh Festival attracted visitors from around the globe. Wikinews’ Brian McNeil roamed the city for the four weeks of the event, capturing the colour, spectacle, and comedy, in photos.

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Gold, A Hedge Against The Perils Of Interesting Times}

Submitted by: John Christensen

While paper-based investments and real estate are vulnerable to effects of changing times, gold soars. A precious metals investment may save a portfolio when all else fails.

The old Chinese curse, may you live in interesting times, has particular relevance to the current epoch of U.S. history. Theres a lot going on right now, much of it scary. Major investors around the world are responding to the events of our perilous age by sinking their dollars, deutschmarks and yen into gold, silver and palladium; Bill Gates, Warren Buffet, and billionaire speculator George Soros to name but a few. Big financial institutions like the Central Banks of Russia and China are also leaping onto the metals bandwagon driving the price of these precious commodities ever higher.

This is spurring a gold rush not witnessed since the Misery Index years of the 1970s. Many financial experts now view gold in particular as an island of stability in a paper-based investment market growing stormier all the time, a development that bodes well for everyday folks who want to shore up their retirement accounts with a precious metals hedge.

People the world over are losing faith in politicians, and currencies, says Marc Lubaszka, President/CEO, World Financial, a highly successful investment firm specializing in precious metals based in Studio City, Calif. This has resulted in a flight to gold coins and other precious metals, a storehouse of value for more than five thousand years. Investors are taking their money out of paper assets, and putting it where it is likely to earn a better return in uncertain times.

Old Reliables Unreliable

[youtube]http://www.youtube.com/watch?v=Qu0B-k6a2Q0[/youtube]

Investments once considered as stable as granite are rapidly losing ground, Lubaszka explains. Real estate is but one example. Long praised as a slam-dunk by money gurus, home-buying is no longer viewed as a hurdle-free path to profit. Stratospheric pricing and higher interest rates are putting intolerable pressure on the current housing bubble, factors bound to bust the suds sooner or later and drive the overheated real estate market into deepfreeze.

The housing bubble will burst rather than gradually deflate, following the rapid and violent pattern of decline of nearly every financial bubble throughout history, Lubaszka says. Higher interest rates negatively impact not only the health of the housing market but other economic segments as well. The stock market takes a hit because higher rates make it more costly for companies to pay for debt. Higher rates hurt corporate profit margins and reduce stock value, bad news given the deep debt situation so many companies are in today.

Paper is Pass

According to Lubaszka, the U.S. dollar has lost more than 80% of its original value since the early 70s when we went to a floating currency, a situation not helped very much by the debut of the Euro in the late 1990s. Unlike American dollars, a portion of the Euro is gold-backed, a stability feature that has helped it outperform the dollar over the long haul. It is for this reason that many foreign investors have been taking money out of U.S. dollars and putting it into gold and oil instead, one explanation for why the price of both has continued to rise in recent months.

Gold prices are climbing right now because the Federal Reserve is printing dollars in flood proportions to keep the real estate market afloat, adds Richard Russell, editor Dow Theory Letters, a stock market trends and securities report published since 1946. This is creating inflation, which erodes purchasing power. All the worlds central banks are inflating right now, reducing confidence in paper globally and encouraging gold-buying. India and China are spurring gold prices as well. India is the worlds largest gold-consumer, and the Chinese government is actively encouraging its citizens to buy gold.

All are extremely encouraging signs for gold investors. Over the course of the past 35 years, gold has climbed in value from a modest $35 an ounce to nearly $600. Contrast that with the battered U.S. dollar, a currency currently worth only 20% of its value in 1970.

When gold peaked-out in the 1970s, interest rates were at an all-time high, Lubaszka says. Right now were waiting to feel the effects of the last 9 interest rate increases which generally take 6-9 months to begin impacting the economy. Nows the time to buy gold because when rates go up, downward pressure is exerted on real estate, stocks and bonds and commodities like gold tend to increase. The opposite occurs when rates travel from a high to a low. Thats the time to reduce gold assets and increase the paper part of a portfolio.

Buy Without Getting Burned

Michelle Henderson, a talent agency owner in Los Angeles, Calif. understands the stakes when it comes to investing. As an agent I work in a commission-based world, and have to invest in both people and ideas all the time, she says. Though Id had bad experiences with stock investments in the past, I knew I would eventually find something that would work for me. I invested in a diversified metals portfolio made up of palladium, silver and gold, and earned a profit of 38% with the palladium alone. Staying focused on making money, and following World Financials advice, I was able to earn an above-average return and greatly increase the overall value of my assets safely.

Lubaszka explain, Its probably best for the first time investor to begin conservatively by purchasing physical metals instead of gold stocks, which can be very volatile. According to Clearwater, Fla.-based talk show host and gold analyst, Tom OBrien, when metals gain 20%, gold equities jump by fifty or sixty per cent. Thats great when it happens but the reverse can occur as well.

Buy gold bars or coins, and put them in a safety deposit box. If you chose to purchase coins from a coin shop, make certain you pay the lowest price possible and that they have a buy back policy. If you elect to go with a broker, fees will be inevitable because you are purchasing a tangible commodity.

There are brokers, and then there are brokers. The best of the breed will answer all questions, and make the process of first-time gold buying less nerve-wracking. Great brokers are also accessible when needed, and quick to call with any new information that affects the value of the investment.

Work with established companies, five years in business is good, ten even better. Dont bother with firms that badger you with telemarketing offers or apply high-pressure sales tactics. Avoid paying high commissions too. Some brokers have layers of fees, through which they earn more money then they do investing on behalf of customers. There are also companies out there that will not buy metal back. Stay away from them as well.

Check references and Better Business Bureau ratings, Lubaszka adds. Deal with a company that takes an active interest in doing business with you. World Financial, for example, offers a five-star customer satisfaction guarantee. If questions are not answered or we fail to respond to a prospects call or email within 24 hours, that person receives a one ounce silver American Eagle coin free of charge. A financial advisors job is to ease the investment process, and to insure that customers get the most for their money. Good advisers are merely good, but the best are worth their weight in gold.

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