In This Issue. * Bias to buy dollars weakens a bit. * Chinese PMI at strongest level in 2 years! * UK PMI slips and pound gets whacked! * Canadian GDP prints at expectations. And Now. Today’s A Pfennig For Your Thoughts. It’s A Jobs Jamboree Friday! Good Day! . And a Happy Friday to one and all! WOW! Did you see all those trades that were made in Baseball yesterday? I find it to be amusing that these teams know for over a year when the trade deadline is, and they wait until the final hour to pull off trades. Sure, I know that many of them need to wait-n-see if their team is in the running for a playoff spot, but they all knew that two weeks ago! My Beloved Cardinals made another trade, for another pitcher. ??? We traded a guy that is an everyday player for a pitcher that will only play every 5th day. Hmmm. I remember my dad telling me that when the Cardinals made the historic trade for Lou Brock back in 1964, that they had taken advantage of the Cubs, trading a pitcher for an everyday player. Lou Brock went on to become a Hall of Famer, and my dad was proven to be correct! Oh well, you came to the letter today, to see what’s going on in currencies, economies and dolts, not about historic baseball trades, so let’s get going! Well, the risk sentiment that had a bias to buy dollars that was firmly placed in the markets after the 2nd QTR GDP report on Wednesday morning, is still in place, but. Seems to be weakening. I see that in the euro this morning, as the single unit inches toward 1.34 again. Yes, the high yielders are still getting whacked by the dollar, on the rate hike assumptions in the U.S. but seriously, what they heck are these guys thinking? It’s all about the here and now, right? And here and now, the rate differentials are way in the favor of the high yielding currencies, like: Aussie, kiwi, reals, rubles, rands, and a couple others. As I called it earlier this week, it’s nothing more than counting your eggs before they’re hatched. The British pound sterling (pound) is finally getting what I thought it would get a couple of months ago. And that is. drum roll please. treated like a currency that has too many skeletons in its closet. But those skeletons were pushed way to the back of the closet as the pound kept rising, which was all based on rate hike expectations. You know, counting their eggs before they’re hatched! I told you months ago that I couldn’t get my arms around the pound rally, for they still had debt up to their eyeballs, and a Bank of England (BOE) Gov. (Carney) that was not going to hike rates as the markets expected him to do. Well, this morning, the pound is getting whacked as their latest report on manufacturing printed at the slowest pace in a year in July. OUCH! June’s manufacturing index number was 57.2, and July’s number slipped to 55.4. The rate hike campers have all scattered and run to cover, for this report points to no chance of a rate hike now. I would like to say “see I told you so”, but I’m not that kind of guy! HA! I do believe that we’ll be going through the same motions here in the U.S. soon enough. For the pattern has been what happens in the U.K. usually is seen here within 6 months. I tried yesterday to point out the problem with the GDP report and questioned the ability of today’s economists and traders to see the problem with a huge buildup of inventories. And eventually something will happen, a data print will go sour or something like that, and someone will say, “I wonder how that happened?” Dolts. all of them! Oh well, I had my good friend, Dennis Miller, send me a note from John Williams yesterday, where John Williams put the seal of approval of my pointing out the problem with the buildup of inventories, and saying that we’ll see downward revisions in the future. I think John Williams won’t be too mad if I steal a quote from him here, “Each of those areas likely will see revisions in the next two months that will move the headline second quarter 2014 GDP much closer to flat-to-minus activity, and eventually into a headline contraction.” I sent a note to Dennis and said, “Isn’t it amazing how people like myself, and John Williams can see the blowup in inventories in the data, but no one else does? Actually, what is probably going on here is that these guys see the inventories accumulating but have no idea what that means! They probably didn’t learn that in their prestigious school! Or if they did, and didn’t retain the info, they weren’t marked down for their lack of retain-ability, for that would hurt their feelings!” OK. Man, when I go off on a tangent on something, I can really go off on it! I have other things to talk about here, so I need to get off this discussion about GDP! Well, in China overnight, the Chinese Gov’t printed a stronger than expected PMI (manufacturing index) of 51.7, which is the highest level since April 2012! It beat the expectations of 51.4 and Junes’ PMI of 51. We previously saw the HSBC/ Markit PMI print stronger too, so, both of these confirm that China is coming out of their slowdown. (recall I told you some time ago that I thought China’s economy troughed in the 2nd QTR.) But the reaction in the Asian and Emerging Market currencies was muted, which surprised me, given that as China goes, so goes Asia and the Emerging Markets! Speaking of the Emerging Markets. I was having a good discussion with a friend of mine last night, and he asked me about the BRICS Development Bank, and wanted to know if this was going to be a good thing. Boy, he wasn’t ready for the answer he got from me, for you know me, I was loaded for bear for that question! To make a long story short here, I told him that the BRICS Development Bank was HUGE, for not only the BRICS countries (Brazil, Russia, India, China and S. Africa) but also the Emerging Markets, for they will get to go to the new bank for loans and not subject themselves to the IMF’s rules, etc. So, yes, it’s a good thing. The Eurozone PMI’s all printed overnight, and while some member countries like Italy and Spain saw a little slippage in their index numbers, as a whole the Eurozone remained basically stable on manufacturing in July. And that has given the euro a chance to book some small gains VS the dollar this morning. I was talking to the Big Boss, Frank Trotter, the other day about the dollar rally, and he said, “The euro is down, which for us is big, but in the overall scheme of things, it’s not really down by much.” I walked out of his office, and sat down, and thought long and hard about that, and then came to the agreement, that while we have seen the euro much stronger, we’ve also seen it much weaker. So, I lowered the white flag on my desk. Canadian May GDP printed at expectations yesterday at .4% and annualized at 2.3%, so at first the Canadian dollar / loonie rallied a bit in the face of the U.S. dollar strength, but eventually it succumbed to the pressure from the green/peachback. I was expected some better things from the Canadian economy, but then May was 3 months ago, I guess I need to be patient and wait for the reports from June and July! U.S. stocks got whacked yesterday. No I’m not going to turn into a stock commentator. Just pointing out that the rate hike talk as taken its toll on stocks too. And Treasury yields have risen too. I was talking to a trader friend of mine yesterday, and she told me that her research team said that if the 10-year held above 2.57% that it was a big deal. Well, the 10-year at that time of the discussion was 2.59%, and as I look at the screen this morning, it’s 2.57%, so it DID hold 2.57%… What’s next? A return to 3%? That would certainly take more of the stuffing out of the housing recovery. So, I’ve gone this far this morning, and haven’t even mentioned that today is the Jobs Jamboree Day! That’s because I’ve grown tired of this babble about jobs, we dance now! Yes, that was my attempt at humor using Dieter’s line from Sprockets. HAHAHAHAHA! Now that’s funny! Do you remember that SNL skit with Mike Meyers? FUNNY! OK, stop having fun Chuck, it’s time to get back to talking about the Jobs Jamboree. Ahhh, yes, job creation in the U.S. the fine art of adding jobs that don’t really exist to the number to make them look better. Makes sense to me as to why we put so much emphasis on this report. NOT! But the markets do, so that means I have to do so also. Right now, the experts are expecting 230,000 jobs to have been created in July. with the Unemployment Rate remaining at 6.1%… I won’t even venture a guess as to what I think the number will be. I would, IF, I knew what the BLS added number of jobs was going to be! HA! I’ve told you for years now that I really don’t get into the number of jobs, for that total doesn’t really tell you what kind of jobs were created. Could be minimum wage jobs, which is fine, but doesn’t really give you a warm and fuzzy about future disposable income does it? Instead, I’ve always focused on the Avg. Hourly Earnings and Avg. Weekly Work Hours, and the Work Force Participation Rate. The U.S. Data Cupboard will also have two of my fave reports this morning, Personal Income and Spending, but this data will be for June, which basically makes it a non-market moving event. The risk in the markets today is that the Jobs report doesn’t meet the expectations of 230,000 new jobs. But as I explained yesterday, it is an election year, do you really think that the Gov’t is going to show slow job growth? Not that they cook the books or anything like that, it’s just a way of saying that things seem to go that way in election years. I’m just saying. OK, back to our regularly scheduled programming. The New Zealand dollar/kiwi is getting whacked again this morning. Makes no sense to me given the rate increase last week, and rate differential that kiwi now enjoys. But I did tell you earlier this week that there were rumors that the Reserve Bank of New Zealand (RBNZ), who never misses an opportunity to diss kiwi, was going to sell (intervene) kiwi to weaken it, as they were not happy with kiwi’s strength. So, maybe the RBNZ is “piling on” here. I say, batten down the hatches, and if anything look to buy on dips! I also told my trader friend I was talking to yesterday, that I thought we were going to see dollar strength for a couple of months here, as we work through this rate hike talk. same thing I told you dear Pfennig readers earlier this week, but wanted to repeat if for those that missed class that day. When we see these periods of dollar strength, and Lord knows we’ve seen plenty of them the past 12 years, we need to batten down the hatches and look to buy on dips. For eventually the dollar will return to its underling weak trend. Gold got whacked again yesterday, but is up a couple of bucks this morning. I will remind everyone that $1,285 is a far, far, far way from $750. And while the price of Oil has slipped below $100, $97 is still a far, far, far way from $40. I’m just saying. For What It’s Worth. OK. I’ve got a treat for you today. Have you ever heard of Richard Timberlake? I have to say that I hadn’t, and I should have long ago! I don’t know how this gem of an economist slipped by me all these years! Mr. Timberlake is 91 years old and studied under the great economist: Milton Friedman. He’s written books on things like exploring the influences over key policymakers and lawmakers who have shaped U.S. Monetary Policy. Yesterday, a long time dear reader, sent me the link to an interview with Mr. Timberlake that was done in February 2014 (just 6 months ago) and while the interview is quite long, it was very enlightening to me. I especially liked this quote from him. He’s talking about the Financial Crisis of 2007-08. “The Fed was never a lender of last resort, and it wasn’t this time either. The Fed should never point its finger at a particular sector and construct a policy that might help that sector, such as agriculture or employment, and say, “We’re going to act until this particular problem is corrected.” That goes back to the fact that the Fed has no rights, responsibilities, or abilities to do anything at all about the real sector. It has to deal with the monetary sector alone and not try to extend itself into the real sector. But when it’s called upon to counteract “bubbles,” it is being given a role that it cannot fulfill. If it tries, it ruins any price level stabilization policies it might have. ” – Richard Timberlake Chuck again. Basically, Mr. Timberlake contends that “the Fed was created solely to be a lender of last resort under the law of the gold standard. It was supposed to be similar to the Bank of England.” And he doesn’t feel like there is a need for the Fed to be a lender of last resort, preferring to allow “private institutions to furnish lender of last resort services if markets are free to operate and if there are no government policies in place that cause destabilization.” Great stuff, folks. especially for someone like me, that soaks up Fed history, and policy like I do. To recap. The dollar bias has weakened by a small amount this morning, as the euro climbs back to 1.34. The high yielders like Brazil, Aussie, Kiwi, rubles, and rands are still getting whacked on the reduction of yield differential talk. It’s all counting eggs before they’re hatched, but that’s not stopping them now. China’s PMI prints at the strongest level since April 2012 in July, and the Eurozone’s PMI was basically the same as the previous month’s level. Chuck talks about the BRICS Development Bank and how it will help the Emerging Markets, and Gold gets whacked again yesterday. But so did stocks and Treasuries! Currencies today 8/1/14. American Style: A$ .9280, kiwi .8475, C$ .9145, euro 1.3395, sterling 1.6835, Swiss $1.1015, . European Style: rand 10.7390, krone 6.2995, SEK 6.8760, forint 235.05, zloty 3.1275, koruna 20.6250, RUB 35.75, yen 102.95, sing 1.2485, HKD 7.7500, INR 61.10, China 6.1681, pesos 13.25, BRL 2.2625, Dollar Index 81.48, Oil $97.55, 10-year 2.57%, Silver $20.33, Platinum $1,457.50, Palladium $868.90, and Gold. $1,284.00 And since everyone is getting all lathered up about an economic recovery here in the U.S. I thought I would remind them of the debt that hangs over us like the Sword of Damocles, and you can see that debt by clicking here and looking at the Unfunded Liabilities number. http://www.usdebtclock.org/index.html That’s it for today. It was a tough week for me, given I was returning from a shortened vacation, and a week in Vancouver. But all in all, I felt pretty decent most of the week. Tomorrow we will host a birthday party at our house for Delaney Grace, who turns 7 on Monday. WOW! My little granddaughter, is turning 7! Delaney was born right after my two major cancer surgeries in 2007, so every year she grows older, I get further away from that awful time in my life, that was only brightened by the birth of that little girl! Did you hear that they have uncovered 4 lost Dr. Seuss books? That’s great news! My beloved Cardinals finally remembered what those bats in their hands are used for yesterday, and now come home for 6 games. NFL training camps are going, and the sports pages here are full of stories about the Rams. That’s right, get the fans all fired up for another woeful year. I don’t want to sound like a negative Nellie here, but the Rams play in a division with the 49er’s and the Seahawks. I doubt they have much chance to win their division. But then, maybe I’ll be surprised! OK. time to go. Thank you for reading the Pfennig, and I hope you have a Fantastico Friday! Chuck Butler President EverBank World Markets
You’re Invited to Join Casey Platinum… Now is the best time to join Casey Platinum, our elite membership where you can get everything we publish at Casey Research for pennies on the dollar compared to what others pay. Over the years, our recommendations could have turned $10,000 into $68,000… $84,900… even an extraordinary $126,000. And now, we’re slashing the price of this membership—which includes EVERYTHING we publish—by up to 95%.Click here to learn more. But hurry. You must act by midnight, January 28th to be grandfathered in before the price hike. — • These kinds of investing opportunities are extremely rare… They only come along once every decade or so. When they do present themselves, you must take advantage of them. Sadly, most investors won’t. That’s because they know nothing about the marijuana market. They don’t know what kind of marijuana business models work… and which are doomed to fail. They don’t know where, geographically, to invest. Worst of all, they can’t tell the difference between a world-class marijuana business and a scam. That’s where I can help…• I’ve been researching the marijuana market around the clock since last June… But I haven’t just read other people’s research like most so-called marijuana experts. I’ve gone to the front lines of this boom. Last year, I spent all of July in Vancouver, Canada. I lived in San Francisco for most of August. And I made Denver my “home” during September. Living in these cities has given me an intimate understanding of the industry. It’s also helped me spot incredible opportunities in the space. For example, one of the marijuana stocks I identified has handed Crisis Investing readers a 140% return since June. Another one is up 84% since July. And a third is up 290% since November. These are the kinds of returns that investors dream about. And that’s exactly why I went back to Colorado last week.• Denver is ground zero of the U.S. marijuana boom… That’s because Colorado legalized medical marijuana way back in 2000. In 2012, they legalized marijuana outright, making it the first U.S. state to do so. Colorado’s progressive stance on pot has given it a huge head start on the rest of the country. That’s why it’s home to some of the country’s top marijuana businesses. Over the weekend, I got to see some of those companies up close. — Recommended Link Recommended Link How to turn a small stake into a multi-million dollar fortune with micro penny cryptos… In fact, you could’ve turned a small stake into a $3.2 million fortune in 3 easy steps. Today, I’m going to show you precisely how that can happen with the right micro penny crypto plays. You just need to act before January 31… • On Saturday, I toured Seed & Smith… This is one of Denver’s top “vertically integrated” marijuana companies. It grows, processes, and sells its own marijuana… all in-house. See for yourself. Here’s one of the company’s grow rooms:Here’s some of the company’s product after it’s been harvested:Finally, we have the finished product:• You can see that Seed & Smith is doing serious business… It has a state-of-the-art facility, a world-class product, and an award-winning packing process. And it must have all these things to stay competitive. That’s because massive profits are on the line. And unlike most billion-dollar industries, the marijuana market is still wide open. The Marlboros and Budweisers of the marijuana world don’t exist yet. But they’re being born before our eyes. And early investors who back these projects will make fortunes. Think of it as buying Apple in 1980 or Amazon in 1997. That’s the kind of opportunity we’re talking about. But don’t worry.• You don’t need to be plugged into the industry like I am to cash in on this boom… Anyone can get rich off legal marijuana. You just need to buy marijuana stocks. Many of these trade on U.S. exchanges. They’re as easy to buy as a share of McDonald’s. Just remember that the industry’s still in its early days. Because of this, many of today’s marijuana stocks won’t be around a year or two from now. So, do your homework before diving in. Analyze the company’s business model. Get to know their team. Do as much research as you can. Investors who take these steps will set themselves up for huge returns in the coming years. Regards, Justin Spittler Tulum, Mexico January 24, 2018 P.S. My colleague, Casey Report editor E.B. Tucker, recently recommended three cannabis companies set to thrive in the years ahead. And now is the time to bet on them… before it’s too late. Our team just put the finishing touches on a brand-new video presentation that reveals more details about the coming boom… and what you need to do today to take advantage of it… Click here to watch it now. By Justin Spittler, editor, Casey Daily Dispatch“I’m from Lithuania.” A man told me this over dinner on Friday. We were dining at an exclusive steakhouse in Denver, Colorado. “I came here because I’m interested in cannabis,” he said. I told him I was there for the same reason. But I flew up from Tulum, Mexico. Funny enough, the family sitting next to me made a similar journey. They were from Juárez, Mexico. It was an eclectic bunch. And that was just the folks sitting at my table. I also met an engineer from India and a venture capitalist from San Francisco while I was in town.• We all came to Denver for the same reason… We were invited to a private investor meeting where the focus was—you guessed it—cannabis. We were there because the legal marijuana market is exploding. Last year, the North American marijuana market grew 33%. That makes it one of the fastest-growing industries on the planet. And this boom has just begun. By 2026, analysts expect the North American marijuana market to be worth $50 billion. That’s five times bigger than it is today. We haven’t seen a consumer industry grow this rapidly since broadband internet in the early 2000s. 5-Day Window Ends January 28th For the next few days you have a rare opportunity to get all our money making research… Every single alert, issue and recommendation… plus much more for 95% off. Only 0.1% of our readers will likely act on this unique opportunity and it goes offline on Sunday, January 28th. Get all the details before it’s gone. Reader Mailbag We’ve been covering the crypto boom over the last few months. But not everyone agrees with our thesis… Tulip Mania… Have a good time helping your readers lose all their money, especially when they borrow or leverage to buy bitcoins that are really worth nothing at all. – Harry Are you investing in cryptos or marijuana stocks? Let us know how it’s going right here.
Teeka Tiwari Editor, Palm Beach Letter P.S. The bitcoin mania isn’t over… It’s just getting started. And an event set to occur as early as April 2 is set to launch a second, massive run-up. Bitcoin’s price could soar 20 times higher. And I’ve found three plays that could soar even higher than bitcoin. I’m talking about making 50, 100, even 200 times your money. You can get the details right here. Reader Mailbag Today, readers respond to Doug’s take on the political correctness movement: Please look up the origin of PC. Educate your audience. I refuse to acknowledge those two words—it’s a term Stalin popularized. We can thank the “New” out of control educational system! College is a breeding ground. Sad, very sad.—Craig More Scrutiny Is Not a Bad Thing China wants nothing to do with cryptocurrencies. And banks are banning the use of credit cards to purchase them. (That’s actually good news. As I’ve said before, you should never borrow money to fund a crypto investment.) This week, two federal agencies—the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC)—are preparing to send reports to Congress about crypto assets. Even the G20 (a group of 19 major national economies and the European Union) is threatening to take cryptos more seriously. All of this scrutiny has people scared that we’ll see a coordinated global effort to snuff out bitcoin and crypto assets. I believe this fear is overblown. Global governments have much bigger problems than bitcoin. The idea that they’ll all join hands and put their differences aside in the relentless pursuit of crushing bitcoin appears farfetched to me. Instead, we’re seeing the maturing of the crypto asset class. None of this is inherently bad. For cryptos to make the leap to a multitrillion-dollar asset class… some form of regulatory framework must be in place. I think it’s an overreaction to assume that all governments want to destroy the crypto asset market. Even if they wanted to, the decentralized nature of bitcoin and other crypto assets makes it impossible for governments to eliminate them (just ask China). Governments can certainly make things more difficult by shutting down the exchanges. But as we’ve already seen, even when the most important market in the space—China—decided to shut down its exchanges, other countries such as Japan welcomed the Chinese exchange operators with open arms. The Crypto Genie Is Out of the Bottle Governments can wail and gnash all they want… but nothing will remove cryptos from the market. The asset class is here to stay. And I think U.S. regulatory bodies understand this reality. That’s why I think the CFTC and SEC hearings will be more concerned with curtailing initial coin offering (ICO) fraud than trying to kill all things crypto-related. The CFTC approved bitcoin futures this past December. It would hardly make sense for it to greenlight futures and then expend resources to destroy the asset class. That’s why I think the current regulatory fears washing through the crypto markets are overblown. Just like they were during the many scary periods I went through with cryptos in 2017. Then, like now, I offered the same advice: Make sure you have rational position sizes. Stop checking prices. Don’t worry about how long this sell-off will last. No one can answer that question with anything more than a guess. (That said, I’m currently working on an essay that will offer my best guess.) I’ll leave you with this… The biggest mistake I made in the decades of the late 1980s and ’90s was to underestimate just how powerful an impact technology would have on the future. I under-owned—and sold too quickly—some of the biggest winners of the past 25 years. I’m not going to make that mistake twice. The blockchain and crypto assets are a new breed of technology that will have as much (if not more) of an impact on the world as the tech companies of the 1980s and 1990s have today. Let the Game Come to You! Buy These Three Cryptos Before April 2nd Nobody’s talking about it, but an estimated $846 billion mountain of money is expected to hit cryptocurrencies as early as April 2nd. That’s more money than the value of every single cryptocurrency on the market—combined. Three small cryptos in particular are expected to see the biggest portions of that cash… Details here. Identity REVEALED: The man who beat Buffett by 2-to-1 He’s called the “Billionaire Beater” because his research outperformed some of America’s most famous billionaires several times over. One he beat by more than 2-to-1 over a recent ten year period. He also crushed three legendary hedge fund billionaires over that same time frame. He’s a humble guy, though, and keeps to himself, but here’s how you can get elite-level access to his stock research… For example, in 2013, the Chinese government banned its banks from dealing with bitcoin. This was at a time when 90% of all bitcoin mining and the majority of bitcoin activity took place in China. On top of that, hackers broke into the world’s largest bitcoin exchange at the time (Mt. Gox) and stole nearly 850,000 bitcoins. Bitcoin dropped 80%… But it still refused to die. When I finally became convinced to buy bitcoin in early 2016, it was at $450 and had a $6.6 billion market cap. I knew that any asset class that could survive so much negativity had to have long-term value. Since then, of course, bitcoin has been as high as $20,000. Now that bitcoin has dropped as low as $7,000, does that mean the party is over? Technology Has a History of Fits and Starts I’ve been fortunate enough to meet many bitcoin millionaires—some now billionaires—who lived through bitcoin’s 80% drop in 2013. I asked what kept them in bitcoin through the negativity. After all, they had made fortunes from bitcoin… So why stick around? What separated them from the hordes of “investors” who sold was their unswerving belief that the world needed a practical alternative to fiat currency. Bitcoin is the first currency that can’t be devalued by a government. It’s the first asset that we’ve had complete ownership over. It’s the most difficult asset to seize in the world. Barring torture, there isn’t a government in the world that can take your bitcoin from you (assuming you’ve stored it securely). That makes bitcoin—and crypto assets overall—unique. In my opinion, bitcoin’s unique qualities will continue to create value for its holders. But it won’t move in a straight line. No asset ever moves in one direction. Even the biggest stock winners of the last two decades—Microsoft, Apple, Google, and Facebook—had long periods of price drops, price consolidations, and fears about their long-term viability as businesses. In the 1990s, the government tried to break up Microsoft. Apple traded for barely the cash on its balance sheet in 2003 as people failed to see the significance of the iPod. In 2007, Google dropped 70% as investors thought it couldn’t survive the Great Recession. And Facebook dropped 50% right out of the gate when it went public. Just like those tech giants, bitcoin and crypto assets are now under a global microscope. All of this PC correctness nonsense is in the Marxist Progressivist line, which Obama-lite democrats are THE PROPONENTS of. Dumb down and numb down the masses, give them a bag of “goodies” to make them dependent on government and you have met your goal = gain the power. Eliminate/smear everybody with different views and you have made it! It’s like from Marx’s Manifesto. We must stay alert and not let the USA become the united socialist states of America!—Vera — Recommended Link Recommended Link Justin’s note: Over the last few months, we’ve shared many essays on the big opportunity in cryptocurrencies. With the recent sell-off, I wanted to get this new essay from Palm Beach Letter editor Teeka Tiwari out to you as soon as possible. Teeka knows more about the crypto market than anyone I know, and he explains below what you should be doing today… By Teeka Tiwari, editor, The Palm Beach Letter I’m sure you’re aware of the vicious sell-off currently going on in the cryptocurrency market. But what you might not know is that this type of volatility isn’t new. Even as recently as last March and September, we dealt with similar market meltdowns. What was especially tough for us was that our most important positions actually ended up dropping far lower than the general market. At certain periods last year, we saw peak-to-valley drops of 67%, 73%, and 78% in some of my recommendations. It was a bloodbath. Hackers attacked Ethereum—my most important position… and the one I had staked my reputation on—every day. I can’t count how many times Ethereum forked its code to deal with various attacks. Aside from the normal angry emails we receive when prices are tanking, I received many mocking emails from “friends” reveling in my perceived “misery.” More than one asked, “How are your ‘tulip bulbs’ doing?” Then, like now, I knew the slings and arrows of the market would ultimately strengthen the entire crypto asset ecosystem. Whether it was hackers trying to destabilize the Ethereum network or the Chinese government trying to ban exchanges, I’ve always known that the decentralized nature of crypto assets makes them very resilient to external threats. That resiliency is what attracted me to bitcoin in the first place. — Mr. Casey forgets to mention that his fellow multi-millionaires support the PC movement. Warren Buffett and Lloyd Blankfein fund candidates that support all this PC nonsense but have no idea why—they flail around for an explanation. There is an answer but it cannot be found in secularism.—KostaIf you have any questions or suggestions for the Dispatch, send them to us right here.
ATLANTA (AP) – A man arrested in Georgia in a Thanksgiving night shooting at a shopping mall near Birmingham has agreed to return to Alabama to face charges.Erron Martez Dequan Brown appeared emotionless during a brief hearing Friday before a magistrate judge in Atlanta.The 20-year-old man told a judge he’d voluntarily return to Alabama. Authorities there now have 15 business days to remove him from the Fulton County jail.Authorities arrested Brown on an attempted murder charge on Thursday. Protesters have held demonstrations since the mall gunfire because an officer fatally shot another armed black man who was initially believed to be the shooter.An organizer says protests will continue over the police killing of 21-year-old Emantic “EJ” Bradford Jr. His funeral is set for Saturday at Birmingham’s municipal auditorium.(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)11/30/2018 11:51:04 AM (GMT -6:00)
Activists hope a new non-partisan online campaign – based on a successful US user-led movement – could finally enable disabled people to become a political force in the UK, and play a significant role in deciding June’s general election.The hope is that the #CripTheVoteUK campaign will allow the millions of disabled people in the UK to use their weight of numbers to affect the election’s outcome.The campaign will not support any particular political party, but will encourage disabled people to register to vote and use social media such as Twitter and Facebook to discuss discrimination, oppression and inequality and the policies and practices that most affect them.Its first major action will be a #CripTheVoteUK Twitter discussion on the Department for Work and Pensions and benefit cuts, on Sunday (30 April) from 7-8pm, hosted by the disabled political journalist Dr Frances Ryan.Other Twitter chats are likely to include independent living, inclusive education, and the threats to disabled people’s rights of a “hard Brexit”.#CripTheVote was launched by three US disabled activists who were frustrated at the failure of the 2016 presidential candidates to talk about disability issues.The trio – Gregg Beratan, Alice Wong and Andrew Pulrang – are now supporting the UK extension of their movement, after being approached by Canadian disabled activist Alex Haagaard, who had asked if they were planning any work around the snap UK election called by prime minister Theresa May earlier this month.They put Haagaard in touch with disabled activist Eleanor Lisney in the UK, and the two of them have recruited other experienced disability activists, including Rick Burgess and Dennis Queen, to organise and lead #CripTheVoteUK.Lisney said: “We want to make enough noise [so that politicians] realise that disabled people are a big proportion of the population and that they cannot disregard our voting power.“We are an important voice.”She said it was crucial that #CripTheVote and #CripTheVoteUK were both “intersectional”, acknowledging that disabled people also face discrimination because of other characteristics such as their race, sexuality and gender.Lisney said the attacks on disabled people’s rights were so serious that the new campaign could save lives.She added: “I think disabled people all over the world are realising what is happening globally, that we are taking a step backwards.”Haagaard said she had become involved after spending a year in the UK, and joining an online narcolepsy support group.She said: “Since returning [to Canada] I have continued to watch member after member struggle with cuts to their benefits, assertions that they’re fit to work despite doctors’ letters to the contrary, and draconian reassessment cycles that leave them in a constant state of stress (which in turn severely exacerbates many of their symptoms).“It’s been horrifying to witness this, and having participated in the discussions of the #CripTheVote movement during the US election cycle, it seemed clear to me that these sorts of conversations needed to be made a key issue of the next UK election.”She said she accepted that “the fact this is a snap election with a very compressed timeline puts us at a disadvantage as an awareness campaign”, but she said she hoped that social media could play “a major role in changing the mainstream conversation” on the election.She said: “It’s a big goal, but I hope #CripTheVoteUK can contribute to making disability rights in the UK a viral topic.”Burgess said he hoped the six weeks leading to the election would be just a “starting point” for what would be a long-term campaign, but the immediate priority was “getting people to make sure they are registered to vote and getting them enthused so they will vote”.He said it would “take effort” for the campaign to remain non-partisan, but he said: “I think we will be direct about facts and policy but we will not be saying ‘…and therefore we think ‘X party’ is really great.’“We have to be realistic about the position we are in and critical of policy, regardless of who it’s implemented by.“As happened in America, you don’t want to be partisan and aligned to a party, but you do need to talk about policies, principles and rights, because if you don’t, something like Trump could happen.”Burgess said he and others had started thinking about the idea of a more organised disabled people’s “voting block” following the successful WOW petition, which he helped organise and led to a House of Commons debate in 2014 on the impact of welfare cuts and reforms on disabled people.He said: “There are 13 million disabled people. If that was more organised and engaged we would be a serious electoral force that parties would have to listen to.“In the long-term, disabled people have to be more of an organised block of voters in the same way people talk about the grey lobby.“Politicians need to be a little bit afraid of offending us. At the moment, they don’t appear remotely worried about what they do.”Burgess said he hoped that #CripTheVoteUK would see disabled people taking on some of the influence currently wielded by the big disability charities.He said: “It is about fertilising and organising the grassroots. Power should come from the bottom, from the real people.“What disabled people want is not the same thing as what a corporate charity that represents disabled people may want.“If you look at disability rights history, often we have felt very betrayed by charities.”Beratan, who himself lived in the UK for 15 years, said #CripTheVote was “geared towards both engaging the disability community in discussing the policies and politics that will most impact our lives but also to use our collective power to amplify the community’s voice on these issues”.And he said that “shrewed” politicians would use #CripTheVoteUK to engage with disabled voters.He said he and his colleagues had been more than happy to advise on setting up #CripTheVoteUK but “have been clear that #CripTheVoteUK needs to develop into whatever the UK disability community needs it to be.“As we saw in the US, #CripTheVote took off because the disability community took ownership of it.”Although he did not want to speak for the UK organisers, he said it had been “very important” in the US to keep #CripTheVote “nonpartisan”.He said: “Most of the evidence out there shows that the disability community breaks all across the political spectrum, but as we’ve seen many times, with the issues that affect our community most, partisan allegiances fall away.“We do tend to make it clear though that nonpartisan does not mean non critical. We’ve always been highly critical of policies that harm disabled people.”And he said he saw a lot of similarities between the two communities.He said: “We’ve both been largely ignored by the mainstream political discourse, and are both more likely to be scapegoated than engaged with.“So ideally I’d love to see them force disability into the conversation in this election.”
Nine MPs on a Commons committee are refusing to explain why they failed to ask the minister for disabled people about shocking figures that suggest attempted suicides among people claiming out-of-work disability benefits doubled between 2007 and 2014.The work and pensions select committee was passed the figures by Disability News Service (DNS) a few days before Sarah Newton gave evidence last month.But despite being promised that the figures had “informed the briefing” prepared for the MPs on the committee ahead of the minister’s evidence session – and Labour MP Neil Coyle telling DNS that he was “sure it will be raised” – no effort was made to ask Newton about them.And this week, none of the nine committee members who attended the session – Labour’s Frank Field, who chairs the committee, Coyle (pictured), Ruth George and Stephen McCabe, Tory MPs Heidi Allen, Andrew Bowie, Alex Burghart and Chris Green, and SNP’s Chris Stephens – would explain why they failed to ask the minister about the figures.Instead, they hid behind the committee’s media officer, who accused DNS of trying to “circumvent” her by asking the MPs individually why they failed to raise the issue with Newton.Last month, the media officer had told DNS that the figures had “informed the briefing” handed to the MPs before the evidence session, but that the committee “does not discuss those decisions outside the committee”.She insisted this week that, because she had already told DNS that Field would not comment on the refusal to raise the figures with the minister, this meant that she had “fully answered” questions on the figures.When DNS pointed out that it was a fundamental democratic principle to be able to hold MPs to account for their work, she said that all the MPs “have been advised to refer you to me but this is, again, the final response”.She later said in a statement: “Committees deliberate in private. Revealing the committee’s private deliberations has been considered a contempt of parliament.”DNS has pointed out that it has been asking MPs to explain their failure to ask questions in an open, public session, and not to release their “private deliberations”.The committee’s media officer had failed by noon today (Thursday) to provide any examples of where revealing a committee’s private deliberations has been considered a contempt of parliament.The new analysis of NHS statistics, prepared by the independent social research institute NatCen and published by Disability News Service (DNS) for the first time last month, showed that in 2007 – a year before the introduction of the much-criticised work capability assessment (WCA) – 21 per cent of incapacity benefit (IB) claimants told researchers they had attempted suicide at some point in their lives.The following year, IB began to be replaced by employment and support allowance (ESA), with eligibility tested by the WCA, under the New Labour government.But by 2014, following six years of the WCA – and four years of social security reforms under the new coalition government, and austerity-related cuts to disability benefits and services – more than 43 per cent of claimants were saying they had attempted suicide at some point in their lives.Over the same period, the proportion of adults questioned for the Adult Psychiatric Morbidity Survey (APMS) who were not claiming IB (in 2007) or ESA (in 2014) and had attempted to take their own lives remained statistically stable (6.0 per cent in 2007 against 6.7 per cent in 2014).Although the figures do not prove that the rate of attempted suicides doubled in that period – for example, the group of IB claimants could have had less severe impairments than those on ESA – and there is no proof that the introduction of the WCA caused the increase, they have alarmed many disabled activists and researchers.Sally McManus, who leads research on the survey for NatCen, on behalf of NHS Digital, has also shown that the proportion of IB/ESA claimants who have ever deliberately self-harmed also rose sharply from 2007 to 2014, as did the proportion of claimants who had had suicidal thoughts at some point in their lives.In 2007, the proportion of IB claimants who said they had self-harmed was 14 per cent, and this rose to 34 per cent of ESA claimants in 2014.And in 2007, the proportion of IB claimants who said they had had suicidal thoughts was 39 per cent, which rose to 66 per cent of ESA claimants in 2014.Samaritans can be contacted free, 24 hours a day, 365 days a year, by calling 116 123 or emailing email@example.com
Easy Search. Quality Finds. Your partner and digital portal for the cannabis community. Opinions expressed by Entrepreneur contributors are their own. Each week hear inspiring stories of business owners who have taken the cannabis challenge and are now navigating the exciting but unpredictable Green Rush. Marijuana, for the most part, is characterized as a guy thing.Movies certainly bolster that stereotype. When it comes to iconic images of people who use marijuana, it’s mostly a Boy’s Club. The two Jeffs – Spicoli and Lebowski. Those guys in “Pineapple Express.” And, of course, Cheech and Chong.But the number of female cannabis users is growing, according to research from the California marijuana delivery company, Eaze. And the number of female entrepreneurs in marijuana continues to grow, as well.Women and baby boomers are buying more cannabis.In a report that mines data from the company’s customers in 2016, Eaze found that orders from women made a significant jump in 2016.Eaze offers on-demand medical marijuana delivery in 100 cities across California, including San Francisco and San Jose. They promise to deliver in 20 minutes or less. Someone orders marijuana on Eaze once every 30 seconds.Related: Sand Hill Road Joins Private Capital Flooding Into Marijuana StartupsAn increasing number of those are women. For the report, Eaze used data from the 250,000 users on the company’s online platform as well as a survey of 5,000 customers.They found that one out of three customers on the Eaze platform are women. That’s a jump of 32 percent from last year, when women made up one out of every four customers.They also are increasingly older. The number of Baby Boomers, both males and females born between 1946 and 1964, who buy marijuana from Eaze jumped by 25 percent in 2016. The number of Gen Xers (1965 to 1982) increased 8 percent. Conversely, the number of Millennials (1983-1995) dropped by 3 percent.Women find opportunity in the marijuana business.A recent New York Times article illustrated how women are moving into the marijuana business through the story of a California woman who is making a living selling handbags, clutches and other items specially designed for older women who use marijuana.They are “aroma-controlled,” providing a scent to mask the smell of cannabis.She is one of many women in their 50s, 60s and 70s who have started businesses in the marijuana industry, according to the Times. Arcview Group CEO Troy Drayton told the Times it’s “definitely a trend” and that older women who were making marijuana-based products for loved ones are now moving into selling their products.Related: Medical Cannabis Finds an Eager Market In Floridian RetireesThe marijuana industry overall also is more open to women executives than other industries, according to a report from Marijuana Business Daily. They reported that 36 percent of executive positions in marijuana are held by women, compared to 22 percent in other industries.Women especially have higher-ranked positions in testing labs, where 63 percent of executives are women. That is followed by “processor or infused products maker” (48 percent) and ancillary services (40 percent).Follow dispensaries.com on Instagram to stay up to date on the latest cannabis news. Image credit: Heath Korvola | Getty Images Add to Queue Women Increasingly Are Cannabis Entrepreneurs and Customers Green Entrepreneur Podcast As legalization gains momentum more women are using marijuana and more are entering the cannabis industry. Listen Now Next Article 3 min read Guest Writer June 13, 2017 –shares dispensaries.com Cannabis
Add to Queue September 27, 2013 Entrepreneur Staff Apply Now » Jason Fell Director of the Entrepreneur Partner Studio Technology The only list that measures privately-held company performance across multiple dimensions—not just revenue. 2019 Entrepreneur 360 List Next Article This Is What Google Looked Like in 1998 –shares This month marks 15 years since the launch of Google. A company that now has a market cap of nearly $300 billion, Google first started in a garage as a research project by Stanford University students Larry Page and Sergey Brin.You’ve probably already noticed today’s Google Doodle video marking the anniversary. But in the search bar, type in “Google in 1998.” You’ll see what the search results for the name “Google” were back then. And here’s what Google’s home page looked like in 1998, courtesy of the Stanford University Internet Archive. It’s pretty neat to see how the site’s design has evolved.Related: Google It! Anatomy of a Tech Giant (Infographic) 1 min read
Citation: Unclear whether digital revolution lowers prices – survey (2018, November 7) retrieved 17 July 2019 from https://phys.org/news/2018-11-unclear-digital-revolution-lowers-prices.html This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. Explore further © 2018 The Associated Press. All rights reserved. Retailers told the European Central Bank, which carried out the survey, that e-commerce should lower prices for shoppers. But producers of goods foresaw more chances to raise prices thanks to new technologies such as 3D printing and internet-connected devices.The bank asked 74 of the biggest companies in Europe how the think new technologies are likely to affect the economy in coming years.On balance, the businesses saw digitalization having a “small negative impact” on jobs, while shifting labor needs from low-skilled to high-skill employees.The ECB probed the price issue because its mission is to keep inflation under control near its goal of just under 2 percent. Central banks and economists have struggled to understand why inflation has only responded slowly to years of stimulus like low interest rates and money injections into the economy. Shoppers walk by a promotion by Alibaba’s Tmall online shopping platform for the upcoming 10th Singles Day event in Beijing, China, Wednesday, Nov. 7, 2018. What begun in the 90s by Chinese college students as a version of Valentine’s Day for people without romantic partners to splurge on themselves, the day of sales promotion has grown into the world’s biggest e-commerce event. (AP Photo/Ng Han Guan) Some manufacturers feeling trade war pinch: survey A new survey suggests the digital technologies sweeping through the corporate world could mean some job losses at big companies, but it’s unclear what impact they will have on consumer prices.
How can you know that any animal, other human beings, or anything that seems conscious, isn’t just faking it? Does it enjoy an internal subjective experience, complete with sensations and emotions like hunger, joy, or sadness? After all, the only consciousness you can know with certainty is your own. Everything else is inference. The nature of consciousness makes it by necessity a wholly private affair. These questions are more than philosophical. As intelligent digital assistants, self-driving cars and other robots start to proliferate, are these AIs actually conscious or just seem like it? Or what about patients in comas — how can doctors know with any certainty what kind of consciousness is or is not present, and prescribe treatment accordingly? In my work, often with with psychologist Jonathan Schooler at the University of California, Santa Barbara, we’re developing a framework for thinking about the many different ways to possibly test for the presence of consciousness.Headbutting Tiny Worms Are Really, Really LoudThis rapid strike produces a loud ‘pop’ comparable to those made by snapping shrimps, one of the most intense biological sounds measured at sea.Your Recommended PlaylistVolume 0%Press shift question mark to access a list of keyboard shortcutsKeyboard Shortcutsplay/pauseincrease volumedecrease volumeseek forwardsseek backwardstoggle captionstoggle fullscreenmute/unmuteseek to %SPACE↑↓→←cfm0-9接下来播放Why Is It ‘Snowing’ Salt in the Dead Sea?01:53 facebook twitter 发邮件 reddit 链接https://www.livescience.com/65874-tests-for-consciousness.html?jwsource=cl已复制直播00:0000:3500:35 There is a small but growing field looking at how to assess the presence and even quantity of consciousness in various entities. I’ve divided possible tests into three broad categories that I call the measurable correlates of consciousness. You can look for brain activity that occurs at the same time as reported subjective states. Or you can look for physical actions that seem to be accompanied by subjective states. Finally, you can look for the products of consciousness, like artwork or music, or this article I’ve written, that can be separated from the entity that created them to infer the presence — or not — of consciousness. Neural correlates of consciousness Over the last two decades, scientists have proposed various ways to probe cognition and consciousness in unresponsive patients. In such cases, there aren’t any behaviors to observe or any creative products to assess. You can check for the neural correlates of consciousness, though. What’s physically going on in the brain? Neuroimaging tools such as EEG, MEG, fMRI and transcranial magnetic stimulation (each with their own strengths and weaknesses), are able to provide information on activity happening within the brain even in coma and vegetative patients. Cognitive neuroscientist Stanislas Dehaene has identified what he calls four signatures of consciousness — specific aspects of brain activity he deems necessary for normal consciousness. He focuses on what’s known as the “P3 wave” in the dorsolateral cortex — the part of the brain behind the top of your forehead — because it seems to correlate most reliably with normal conscious states. He also focuses on long-range synchronized electric fields between different parts of the brain as another key signature of consciousness. In tests which look for these signals in vegetative and minimally conscious patients, Dehaene and his colleagues have successfully predicted which patients are most likely to regain more normal states of consciousness. Sid Kouider, another cognitive neuroscientist, has examined infants in order to assess the likelihood that very young babies are conscious. He and his team looked for specific neural signatures that go along with subjective experience in adults. They looked specifically for a certain type of brain waves, similar to the P3 wave Dehaene focuses on, that are reliable indicators of consciousness in adults. They found clear analogs of the P3 wave in the brains of babies as young as five months old. Kouider concludes — unsurprisingly — that even young babies are very likely conscious in various complex ways, such as recognizing faces. Behavioral correlates of consciousness When considering potentially conscious entities that can’t communicate directly, and that won’t allow neuroscientific measurement tools on their head (if they even have heads), it’s possible to consider physical behaviors as clues for the presence and type of consciousness. You know that a massive range of human behaviors are accompanied by conscious experience. So when you see similar behaviors in other animals or even non-animals, can you reasonably infer the presence of consciousness? For example, are cats conscious? Their brain architecture is a little different than humans’. They have very minimal prefrontal cortex, which some scientists think is the center of many higher-order activities of the human brain. But is a prefrontal cortex necessary for consciousness? Cat behavior is complex and pretty easy to map onto human behavior in many ways. Cats purr, flex their toes and snuggle when petted, in similar ways to people demonstrating pleasure when physically stimulated — minus the purrs, of course. They meow loudly for food when hungry and stop meowing when fed. They demonstrate curiosity or fear about other cats or humans with various types of body language. These and many other easily observable behaviors add up to convincing evidence for most people that cats are indeed conscious and have rich emotional lives. You can imagine looking for other familiar behaviors in a rat, or an ant or a plant — if you see things close enough to what you’d expect in conscious humans, you may credit the observed creature with a certain type of consciousness. Creative correlates of consciousness If, for whatever reason, you can’t examine neural or behavioral correlates of consciousness, maybe you can look to creative outputs for clues that would indicate consciousness. For example, when examining ancient megalithic structures such as Stonehenge, or cave paintings created as far back as 65,000 years ago, is it reasonable to assume that their creators were conscious in ways similar to us? Most people would likely say yes. You know from experience that it would take high intelligence and consciousness to produce such items today, so reasonably conclude that our ancient ancestors had similar levels of consciousness. What if explorers find obviously unnatural artifacts on Mars or elsewhere in the solar system? It will depend on the artifacts in question, but if astronauts were to find anything remotely similar to human dwellings or machinery that was clearly not human in origin, it would be reasonable to infer that the creators of these artifacts were also conscious. Closer to home, artificial intelligence has produced some pretty impressive art — impressive enough to fetch over US$400,000 in a recent art auction. At what point do reasonable people conclude that creating art requires consciousness? Researchers could conduct a kind of “artistic Turing Test”: ask study participants to consider various artworks and say which ones they conclude were probably created by a human. If AI artwork consistently fools people into thinking it was made by a person, is that good evidence to conclude that the AI is at least in some ways conscious? So far AI aren’t convincing most observers, but it’s reasonable to expect that they will be able to in the future. Where’s my ‘consciousness-ometer’? Can anyone get a definitive answer about the presence of consciousness, and how much? Unfortunately, the answer to both questions is no. There is not yet a “consciousness-ometer,” but various researchers, including Dehaene, have some ideas. Neuroscientist Giulio Tononi and his colleagues like Christof Koch focus on what they call “integrated information” as a measure of consciousness. This theory suggests that anything that integrates at least one bit of information has at least a tiny amount of consciousness. A light diode, for example, contains just one bit of information and thus has a very limited type of consciousness. With just two possible states, on or off, however, it’s a rather uninteresting kind of consciousness. In my work, my collaborators and I share this “panpsychist” foundation. We accept as a working hypothesis that any physical system has some associated consciousness, however small it may be in the vast majority of cases. Rather than integrated information as the key measure of consciousness, however, we focus on resonance and synchronization and the degree to which parts of a whole resonate at the same or similar frequencies. Resonance in the case of the human brain generally means shared electric field oscillation rates, such as gamma band synchrony (40-120 Hertz). Our consciousness-ometer would then look at the degree of shared resonance and resulting information flows as the measure of consciousness. Humans and other mammals enjoy a particularly rich kind of consciousness, because there are many levels of pervasive shared synchronization throughout the brain, nervous system and body. Tests for consciousness are still in their infancy. But this field of study is undergoing a renaissance because the study of consciousness more generally has finally become a respectable scientific pursuit. Before too long it may be possible to measure just how much consciousness is present in various entities — including in you and me. [Deep knowledge, daily. Sign up for The Conversation’s newsletter. ] Tam Hunt, Affiliate Guest in Psychology, University of California, Santa Barbara This article is republished from The Conversation under a Creative Commons license. Read the original article.by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeVikings: Free Online GamePlay this for 1 min and see why everyone is addicted!Vikings: Free Online GameUndoTruthFinder People Search SubscriptionOne Thing All Liars Have in Common, Brace YourselfTruthFinder People Search SubscriptionUndoGundry MD Total Restore SupplementU.S. Cardiologist: It’s Like a Pressure Wash for Your InsidesGundry MD Total Restore SupplementUndoSecurity SaversWindows Users Advised To Do This TodaySecurity SaversUndoNucificTop Dr. Reveals The 1 Nutrient Your Gut Must HaveNucificUndoArticles VallyDad Cuts Daughter’s Hair Off For Getting Birthday Highlights, Then Mom Does The UnthinkableArticles VallyUndo
Refuting opposition claims over “misuse” of the NIA law, Home Minister Amit Shah on Monday asserted that the Modi government will never misuse it on the basis of religion but ensure that terrorism is finished off irrespective of the religion of the accused.In an intervention during a discussion in Lok Sabha on the National Investigation Agency (Amendment) Bill, 2019, Shah also targeted the Congress-led UPA government for repealing the anti-terror act POTA, saying it was not done because of its alleged misuse but to “save its vote bank”.He said terror attacks witnessed an uspurge after the Prevention of Terrorism Act (POTA) was repealed resulting in the same UPA government being forced to constitute NIA after the Mumbai attacks. Shah sought all-party support for the bill’s passage, saying a division in the House on the issue of strengthening the agency will send out a wrong message and boost the morale of terrorists.“Parliament should speak in one voice in giving powers to the NIA to send out a message to terrorists and the world,” he asserted. His response came as several opposition leaders criticised the bill and accused the government of using investigating agencies for “political vendetta”.Some MPs said the anti-terror law is misused at times to target members of a particular community. “Let me make it clear. The Modi government has no such intention. Its only goal is to finish off terrorism but we will also not look at the religion of the accused while taking action,” Shah said. Published on COMMENT SHARE Home Minister Amit Shah COMMENTS SHARE SHARE EMAIL July 15, 2019