#Daniel McGeever

[bandcampsnoop]

7/18/24.

I had originally planned to post about the reissue of The Boys With The Perpetual Nervousness "Dead Calm" LP. Originally, this was issued on Spanish label Pretty Olivia Records, but now is being reissued by another great Spanish label Bobo Integral. However, I posted about TBWTPN when it was initially released back in 2019.

I went to Pretty Olivia to check out the original release which led me to listen to Daniel McGeever "Spirals". This has a beautiful 1960s/1970s pop sound reminiscent of Elton John, Paul McCartney or Paul Simon. Looking at the list of contributors I immediately saw Stuart Kidd - frequent collaborator with Duglas Stewart (BMX Bandits) and a solo artist in his own right under the moniker KiDD.

McGeever (Scotland) was also a member of The Wellgreen with Marco Rea.

[goalhofer]

2020 Olympics Ireland Roster

Boxing

Brendan Irvine (Belfast, U.K.)

Kurt Walker (Lisburn, U.K.)

Aidan Walsh (Belfast, U.K.)

Emmett Brennan (Dublin)

Kellie Harrington (Dublin)

Michaela Walsh (Belfast, U.K.)

Aoife O’Rourke (Castlerea)

Canoeing

Liam Jegou (Huningue, France)

Gymnastics

Rhys McClenaghan (Dublin)

Meg Ryan (Cork)

Pentathlon

Natalya Coyle (Dublin)

Sailing

Robert Dickson (Dublin)

Sean Waddilove (Dublin)

Annalise Murphy (Rathfarnham)

Swimming

Daniel Wiffen (Armagh)

Darragh Greene (Dublin)

Shane Ryan (Haverford Township, Pennsylvania)

Brendan Hyland (Dublin)

Finn McGeever (Ballina)

Jack McMillan (Belfast, U.K.)

Mona McSharry (Camp)

Danielle Hill (Newtownabbey, U.K.)

Ellen Walshe (Dublin)

Taekwondo

Jack Woolley (Dublin)

Athletics

Marcus Lawler (Carlow)

Leon Reid (Bath, U.K.)

Mark English (Letterkenny)

Andrew Coscoran (Balbriggan)

Thomas Barr (Dunmore East)

David Kenny (Farranfore)

Brendan Boyce (Letterkenny)

Alex Wright (London, U.K.)

Dr. Paul Pollock (Holywood, U.K.)

Stephen Scullion (Belfast, U.K.)

Kevin Seaward (Anstey, U.K.)

Cillin Greene (Dublin)

Chris O’Donnell (Sligo)

Phil Healy (Ballineen)

Síofra Büttner-Cléirigh (Dublin)

Nadia Power (Dublin)

Louise Shanahan (Cork)

Sarah Healy (Monkstown)

Ciara Mageean (Portaferry, U.K.)

Sarah Lavin (Lisnagry Townland)

Michelle Finn (Castlemagner)

Eilish Flanagan (Gortin)

Aoife Cooke (Cork)

Fionnuala McCormack (Wicklow)

Sophie Becker (Wexford)

Badminton

Nguyễn Nhật (Dublin)

Cycling

Eddie Dunbar (Banteer)

Dan Martin (Girona, Spain)

Nicho Roche (Conflans-Sainte-Honorine, France)

Mark Downey (Dromore, U.K.)

Felix English (Brighton, U.K.)

Emily Kay (Bromsgrove, U.K.)

Shannon McCurley (Melbourne, Australia)

Diving

Oliver Dingley (Harrowgate, U.K.)

Tanya Watson (Dublin)

Equestrian

Austin O’Connor (Cork)

Sam Watson (Clonmel)

Bertram Allen (Hünxe, Germany)

Darragh Kenny (Belmont)

Cian O’Connor (Navan)

Shane Sweetnam (Wellington, Florida)

Heike Holstein (Dublin)

Sarah Ennis (Dunboyne)

Field Hockey

Elizabeth Murphy (Dublin)

Ayeisha McFerran (Larne)

Zara Malseed (Dublin)

Michelle Carey (Dublin)

Roisin Upton (Limerick)

Nikki Evans (Clonskeagh)

Katie Mullan (Coleraine)

Shirley McCay (Drumquin)

Megan Frazer (Derry, U.K.)

Lena Tice (Basingstoke, U.K.)

Naomi Carroll (Cratloe)

Hannah McLoughlin (Dublin)

Chloe Watkins (Killiney)

Lizzie Colvin (Portadown)

Nikki Daly (Dublin)

Hannah Matthews (Dublin)

Sarah Hawkshaw (Dublin)

Anna O’Flanagan (Rathgar)

Deirdre Duke (Ballycanew)

Sarah McAuley (Dublin)

Golf

Shane Lowry (Jupiter, Florida)

Rory McIlroy (Jupiter, Florida)

Leona Maguire (Cavan)

Stephanie Meadow (Jordanstown, U.K.)

Judo

Benjamin Fletcher (Wokingham, U.K.)

Megan Fletcher (Wokingham, U.K.)

Rowing

Ronan Byrne (Cork)

Philip Doyle (Banbridge, U.K.)

Fintan McCarthy (Skibbereen)

Paul O’Donovan (Lisheen)

Sanita Pušpure (Ballincollig)

Aoife Casey (Cork)

Margaret Cremen (Rochestown)

Aileen Crowley (Killorglin)

Monika Dukarska (Killorglin)

Aifric Keogh (Furbo)

Eimear Lambe (Cabra)

Fiona Murtagh (Galway)

Emily Hegarty (Skibbareen)

Rugby

Jack Kelly (Dublin)

Adam Leavy (Dublin)

Harry McNulty (Cashel)

Foster Horan (Gorey)

Ian Fitzpatrick (Ratoath)

Billy Dardis (Dublin)

Jordan Conroy (Tullamore)

Greg O’Shea (Limerick)

Mark Roche (Dublin)

Terry Kennedy (Dublin)

Hugo Lennox (Maynooth)

Gavin Mullin (Dublin)

Bryan Mollen (Dublin)

Shooting

Derek Burnett (Westmeath)

Triathlon

Russell White (Banbridge, U.K.)

Carolyn Hayes (Wicklow)

[leonjoven]

XXXI Edición del Purple Weekend el 4, 5, 6, 7, y 8 de diciembre en Espacio Vías y en el Palacio de Exposiciones de León.

XXXI Edición del Purple Weekend el 4, 5, 6, 7, y 8 de diciembre en Espacio Vías y en el Palacio de Exposiciones de León.

Purple Weekend

Organiza: Centro León Gotico Colabora: Excmo. Ayuntamiento de León. Patrocina: SON Estrella Galicia

Este año el Purple Weekend cumplirá nada 31 años, la gran fiesta de la cultura sixtie volverá a llenar la ciudad de León de música, patillas, parkas y scooters. Como novedad este año, el Palacio de Exposiciones será uno de los escenarios del festival sustituyendo al CHF, que ya no formará parte en esta nueva edición. Varios escenarios, locales volcados en la propuesta, mucho patear calle y tapear en los bares, y actividades para todos los públicos son las credenciales de este evento urbano en el que la única bandera es el rock and roll.

PROGRAMA:

Miércoles 4:

 ELEKTRA COMIC 19:00 Presentación del libro «La Quadrophenia de Pete Townshend» (Sílex ediciones), de Javier Cosmen Concejo. El autor estará además acompañado por un Paco Poza (Los Imposibles) que versionará a The Who en concierto acústico.

TEATRO EL ALBÉITAR 20:15 Presentación y proyección documentarl «Sonido Mosca» (2019) LA PRODUKTIVA FILMS.

MUSAC 22:00 The Blank Tapes (USA). Entrada Gratuita.

Jueves 5:

 Glam Theatre 18:00 Ian Kay (FRA). Entrada 5€ (Concierto fuera de abono).

MUSAC 19:00 Mesa redonda: «Publicaciones independientes en torno a la cultura mod y sixties en la actualidad», con el COLECTIVO BRUXISTA. Entrada gratuita.

MUSAC 20:00 Inauguración de la exposición «Escuchando colores, viendo sonidos. Un paseo psicodélico desde los años 60 hasta la actualidad». Visita guiada por su comisaria, Eva López Campesino.

 Espacio Vias 21:30 CYANIDE PILLS (GBR), The Stems (AUS). Entrada 15/18€.

Vannity Luxury Hall 00:30 (10 € sin abono o Entrada) Allnighet con diversos DJ,s

Viernes 6:

ESPACIO VÍAS 12:00 (Entrada gratuita). Apertura de puertas. Inauguración mercadillo. THE KIOS ARE ALLRIGHT (actividad para toda la familia).

ESPACIO VÍAS 12:30 (Entrada gratuita). Cuentacuentos: «Sintoniza los 60». Titiricuento.

ESPACIO VÍAS 13:30 (Entrada gratuita). Sesión vermut.

ALBEITAR 13:00 Daniel McGeever (ESC) Entrada Gratuita.

Glam Theatre 15:00 The Thunderbeats (RUS) + Alldayer. Entrada 5€ (Concierto fuera de abono)

Espacio Vias 17:00 Los Retrovisores (ESP), The Rosalyns (USA). Entrada 15/18€ sin abono festival.

Palacio de Congresos de Leon 21:00 Marta Ren (PRT), Carlton J Smith (USA), The Jaybirds (AUT). Entrada 28/32€ sin abono festival.

Petit Palais 01:00 (10 € sin abono o Entrada) Allnighter con diversos DJ,s

Sábado 7:

ESPACIO VÍAS 12:00 (Entrada gratuita). Apertura de puertas. Mercadillo. THE KIOS ARE ALLRIGHT (actividad para toda la familia).

ESPACIO VÍAS 12:30 (Entrada gratuita). Cuentacuentos: «Little Niño descubre a … David Bowie».

ESPACIO VÍAS 13:00. Concentración y «Scooter Run con el  recorrido por la ciudad por: Espacio Vías, Luis Salvador Carmona, Suero de Quiñones, Padre Isla, Ramiro Valbuena, Pz Inmaculada, Gran Vía, San Agustín, Alonso V, Ordoño II, Pz Santo Domingo, Pz San Marcelo, Ancha, Cervantes, Pz Torres de Omaña, Fernando González Regueral, Pz San Isidoro, Sacramento, Pz Santo Martino, Abadía, Ramón y Cajal, Pz. Santo Domingo, Padre Isla, Álvaro López Núñez, Mariano Andrés (hasta el Colegio de La Asunción) «Little Niño descubre a … David Bowie».

ESPACIO VÍAS 13:30 (Entrada gratuita). Sesión vermut.

Glam Theatre 15:00 THE JACK CADES (GBR) + Alldayer. Entrada 5€ (Concierto fuera de abono)

 Espacio Vias 17:00 THE LOONS (13TH Flor E. Set) -USA-, Les Grys-Grys (FRA). Entrada 15/18 € sin abono Festival

 Palacio de Exposiciones de León 21:00 The Tranzmitors (CAN), Peter Perrett ( GBR), Hoodoo Gurus (AUS). Entrada 28/32€ sin abono.

Petit Palais 01:00 (10 € sin abono o Entrada). Allnighet con diversos DJ,s

 Domingo 8

ESPACIO VÍAS 12:00 (Entrada gratuita). Apertura de puertas. Mercadillo. THE KIOS ARE ALLRIGHT (actividad para toda la familia).

ESPACIO VÍAS 13:00 (Entrada gratuita). Los Torontos (ESP). Sesión vermu

 Espacio Vias 13:00 Los Torontos. Entrada Gratuita

 Glam Theatre 15:00 BIFANNAH (ESP). Entrada 5€ (Concierto fuera de abono Espacio Vias 17:00 THE ALLRIGHTERS (ESP), The Galileo 7 (GBR). Entrada 15/18€. sin abono Festival.

Las mañanas del Espacio Vias estarán llenas de actividades para toda la familia los días 6, 7 y 8 de diciembre. Con entrada gratuita disfrutaremos de un concierto de Los Torontos el domingo, de cuentacuentos y de las “sesiones vermut” a partir de las 13:30, amenizadas a 45 r.p.m por una joven DJ de León: Irene Snatcher (Irene Yagüe).

Una de las grandes novedades que presenta esta XXXI edición es un servicio de guardería en Laserlol/Karikú, lo que permitirá que los padres puedan dejar a buen recaudo a sus pequeños durante el día e incluso durante la noche, ya que cuenta también con campamentos nocturnos. Esta iniciativa permite una conciliación entre música, conciertos e hijos, y pretende posibilitar la presencia en el festival y en León de espectadores, tanto locales como de fuera, con responsabilidades familiares. Además es una manera excelente de captar nuevo público y sembrar el gusanillo por los festivales entre las nuevas generaciones.

Abonos ya a la venta:

https://www.wegow.com/es-es/compra/purple-weekend-2019#a_aid=fanmusicfest

https://www.facebook.com/purpleweekend/

Más información: www.purpleweekendoficial.com

PROGRAMA

  XXXI Edición del Purple Weekend el 4, 5, 6, 7, y 8 de diciembre en Espacio Vías y en el Palacio de Exposiciones de León. was originally published on leonjoven.net

[scannain]

Watch the proof of concept for new Irish TV drama The Liberties

Watch the proof of concept for new Irish TV drama The Liberties #IrishTV #IrishTalent #LibertiesTV

https://vimeo.com/425962332

Greenhorn Films, in association with 925 Productions and Failsafe Films, has released a proof-of-concept teaser for their TV drama, The Liberties. This period drama is pitched as Gangs of New York meets Peaky Blinders in 1815 Dublin.

Dublin is a vice of a capital city, with its numberless train of incentives to drunkenness, idleness and debauchery, must always…

[fullspectrum-cbd-oil]

Brazil Officials, Bolsonaro’s Son Meet With Trump to Discuss Amazon Fires

Brazil’s foreign minister and President Jair Bolsonaro’s son met with U.S. President Donald Trump on Friday to discuss the fires ravaging the Amazon rainforest, although no concrete measures to deal with the blazes were announced.

Speaking to reporters following the meeting, Eduardo Bolsonaro said there could be an announcement later, potentially after his return to Brasilia on Saturday and consultations with his father.

Bolsonaro has said he will appoint Eduardo as Brazil’s ambassador to the United States, but the controversial nomination has yet to be sent to the Senate for voting and confirmation.

The far-right Brazilian president sees the vast Amazon area as ripe for economic development and crucial to Brazilian sovereignty. He has been critical of what he has called interference, mostly from European countries, preferring to enter into potential talks for help fighting the fires with those he sees as allies, such as Trump and Chilean President Sebastian Pinera.

The talks with Trump largely focused on topics beyond the fires’ scope, including trade, according to Brazilian Foreign Minister Ernesto Araujo.

“(Trump) reiterated various things: a willingness to work with us to sustainably develop the Amazon, a huge interest in a broad trade agreement with us,” Araujo said.

The United States, Chile, Israel and Ecuador have already offered support in fighting the worst rash of fires in the Amazon rainforest since 2010, the country’s joint military chief told reporters in Brazil earlier.

The number of fires receded after Brazil’s military joined the firefighting efforts last week, although the latest statistics from Brazilian space research agency INPE showed a new spike. On Thursday, 1,255 fires were registered in the Amazon, the highest number for a single day since Aug. 17, according to INPE data.

‘OUR DEAR MACRON’

President Bolsonaro tweeted on Friday that he had also spoken with German Chancellor Angela Merkel about the fires, a conversation which he said reaffirmed Brazil’s sovereignty over the rainforest.

He said that according to the European External Action Service, the EU diplomatic wing, satellite images show that fires in Brazil were lower year-to-date compared to the same period in 2018. Reuters was not immediately able to verify that.

Such data would directly contradict figures from INPE that show fires from Jan. 1 to Aug. 29 were up 77% compared to the same period a year ago.

“I am ready to talk with some people, except our dear Macron, unless he apologizes about our sovereignty over the Amazon,” Bolsonaro said earlier in the day, referring to French President Emmanuel Macron.

Earlier this week Bolsonaro said he would not accept an offer of at least $20 million from the Group of Seven rich nations to help fight the Amazon fires unless Macron withdrew what he called “insults” against him.

The two leaders have become embroiled in a public war of words over Brazil’s handling of the Amazon fires and the international response.

Eduardo Bolsonaro told reporters outside the White House that Brazil could not accept an offer like Macron’s.

“This isn’t aid that comes with good intentions. It’s aid that comes with other interests,” he said. “This would disrespect Brazilians. It would subjugate our Brazilian-ness.”

Brazil is also facing economic pressure over its perceived slow response to the surge in fires and deforestation. On Friday, the asset management arm of Nordea <NDAFI.HE>, one of the Nordic region’s biggest banks, said it was suspending purchases of Brazilian government bonds.

Norwegian pension fund KLP, which has $80 billion in assets under management, said this week it had contacted U.S. companies Bunge <BG.N>, Cargill and Archer Daniels Midland <ADM.N> asking for “concrete action” to protect the rainforest.

In statements to Reuters on Friday, Bunge and ADM reaffirmed their commitments to keep deforestation out of their supply chains. Cargill did not immediately respond to request for comment.

On Thursday, VF Corp <VFC.N>, maker of Timberland, Vans and other apparel brands, said it would stop buying leather from Brazil over environmental concerns. [nL2N25P0FC]

(Reporting by Alexandra Alper in Washingtion, Jake Spring in Brasilia and Pedro Fonseca in Rio de Janeiro; Additional reporting by Jamie McGeever and Lisandra Paraguassu in Brasilia, Eduardo Simoes in Sao Paulo and Tom Polansek in Chicago; Editing by Leslie Adler and Rosalba O’Brien)

from IJR https://ift.tt/2HBIzlV via IFTTT

[zeroviraluniverse-blog]

GRAPHIC-Take Five: World markets themes for the week ahead

Visit Now - http://zeroviral.com/graphic-take-five-world-markets-themes-for-the-week-ahead/

GRAPHIC-Take Five: World markets themes for the week ahead

LONDON, Feb 2 (Reuters) – Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.

1/ SUPER THURSDAY

It’s “Super Thursday” for the Bank of England next week when it decides on interest rates, publishes minutes from its last meeting, and issues its quarterly Inflation Report. No move on rates is expected this time around – that could come in May – so all eyes will be on the inflation and growth outlook.

The global economy is booming, though Britain is the clear laggard among major economies thanks to Brexit. But UK bond yields are being caught up in the global push higher, hitting a pre-Brexit vote peak this week of 1.59 percent.

The one big difference since the last “Super Thursday” in November when the Bank raised rates and even its last meeting in December is sterling. The pound hit $1.43 recently, well up from $1.32 in November and $1.34 in December, and close to its pre-Brexit level of $1.48. How will sterling’s resurgence, as well as oil prices and global growth, factor into the BoE’s outlook?

*After first UK rate rise in a decade, chances grow of another in May

*GLOBAL ECONOMY-Bank of England at forefront of global rates dilemma

*HIGHLIGHTS-Bank of England’s Carney speaks in UK House of Lords

2/ COOLING OFF DOWN UNDER

Hot housing markets losing steam, inflation below expectations and stronger currencies will provide food for thought to Australian and New Zealand central bankers at policy meetings on Tuesday and Wednesday. Interest rate hike expectations may be pushed further down the road.

Meanwhile, it’s the monthly China data dump, with the latest consumer and producer price inflation, trade, service sector activity and FX reserves figures all due for release. Inflation is expected to slow, giving the PBOC some breathing space. Given the rise in protectionist rhetoric and indeed, action, coming out of Washington, close attention will be paid to China’s trade surplus with the United States.

*Australia inflation stays subdued in Q4, rate hike still distant

*NZ’s soft inflation pushes out rate hike expectations, knocks kiwi lower

*China Jan factory growth remains strong as output accelerates – Caixin PMI

3/ WHAM, BAM, THANK YOU UNCLE SAM

The U.S. trade deficit is expected to grow when data for December is released Tuesday. Analysts predict the deficit to widen to $51.7 billion from November’s $50.5 billion.

While the weak dollar would typically help boost U.S. exports, strong domestic demand is delivering record imports. This coincides with increased trade growth and accelerating economic growth elsewhere.

Markets will watch out for U.S. retail sales due later in the month, which have grown every month since July. The positive trend along with rising consumer confidence will likely contribute to the bulging deficit as importers look to stock shelves.

Meanwhile U.S. politics could throw a spanner in the market works. Another government shutdown is looming, with approved funding due to run out on Thursday.

*U.S. trade deficit rises to near six-year high on record imports

*U.S. retail sales rise; core sales revised sharply higher

*UPDATE 2-U.S. Treasury Secretary Mnuchin urges Congress to raise debt ceiling as another shutdown looms

4/ MIND THE GAP

As company results roll in, a gap has opened between earnings growth expectations for European and U.S. equities. While the weak dollar has bruised some European companies with high U.S. exposure, firms across the pond have seen their earnings revised up thanks in part to Washington’s tax overhaul.

A slew of results will keep investors on their toes, with oil majors BP and Total, banks including BNP Paribas and UniCredit as well as drugmakers GSK and Sanofi slated to push out numbers.

The lag in earnings expectations could make European shares more vulnerable to a potential pullback. European stocks just had their worst week in more than a year, though surging U.S. bond yields helped put Wall Street on course for its worst week in two years.

But European sentiment could be bolstered by attractive valuations. Europe’s stocks are 9 percent cheaper than average relative to U.S. peers, according to Morgan Stanley, which has a maximum overweight in European equities.

*European tech gets second wind after record-breaking 2017

*LIVE MARKETS – European stocks still a bargain relative to U.S.

*BAML’s Bull & Bear indicator hits sell signal

5/ TAKING A HIKE

It’s a busy week for emerging market central banks with rate-setting meetings from Asia to Latin America and all points in between.

In Russia a small rate cut could be on the cards as annual inflation has slid below the bank’s target of 4 percent. Russia’s central bank governor has already said the bank may cut rates faster than expected.

But other central banks are still keeping a watchful eye on inflation, with Mexico expected to raise rates from the current near nine-year high of 7.25 percent. Romania could also hike again after its January increase – its first in a decade.

Meanwhile the Reserve Bank of India is expected to hold rates at 6 percent for now but India’s expansionary budget, which raises spending for rural areas, could prompt the bank to toughen its tone.

*POLL-Russia seen cutting key rate in Feb, boosting consumer demand

*Russia central bank chief says may speed up rate cuts

*Mexico inflation risks require firm monetary policy

*Indian budget spurs inflation worries ahead of RBI policy

Reporting by Jamie McGeever, Helen Reid, Claire Milhench and Karin Strohecker in London, Marius Zaharia in Hong Kong and Daniel Bases in New York

Our Standards:The Thomson Reuters Trust Principles.

[popandpop]

聴く: Cross The Water アーティスト Daniel McGeever

[melindarowens]

Bitcoin rockets above $5,000 to all-time high

A Bitcoin and Dollar notes are seen in this illustration picture taken September 27, 2017. REUTERS/Dado Ruvic/Illustration

October 12, 2017

By Jemima Kelly

LONDON (Reuters) – Bitcoin smashed through the $5,000 barrier for the first time on Thursday, jumping as much as 8 percent on the day as investors shrugged off the latest warnings on the risks of buying into the booming cryptocurrency market.

Bitcoin, the biggest and best-known cryptocurrency, has chalked up a more than fivefold increase in price this year.

Typically for bitcoin, which at less than nine years old is still highly volatile and illiquid compared with traditional currencies and assets, the precise reason for its recent tear was unclear.

Upcoming splits in its software, reports that Goldman Sachs is considering offering bitcoin trading, rumors that China could ease restrictions, and even a political crisis in Spain’s Catalonia region were all cited by market-watchers as reasons for the rally.

But the main factor could simply be demand from investors wanting ‘in’ on a market that has provided gains exceeding those of any other currency in every year bar one since 2010.

“People are just wanting to be part of it,” said Ryan Nettles, head of FX trading and market strategy at Swiss bank Swissquote, which launched bitcoin trading two months ago. Nettles said interest had been much higher than anticipated and has come from banks, hedge funds and brokers.

“The interest really stems from the media hype,” he added.

On Wednesday Russian President Vladimir Putin warned of the “serious risks” surrounding the nascent market, while Russia’s central bank said it would ban cryptocurrency trading websites.

But that was not enough to put investors off, with bitcoin rallying around 10 percent since then.

Data released last week from SEMrush, a search engine data analytics firm, found the price had a 91 percent correlation with Google searches on bitcoin, suggesting that all news — whether negative or positive — drives up demand, even if bad news can have a temporary negative effect.

Bitcoin almost reached $5,000 at the start of September, but fell back sharply after the head of Goldman Sachs blasted the cryptocurrency as a “fraud” and as China forced exchanges to close down, sparking fears of a broader crackdown.

But after dipping below $3,000 in mid-September, bitcoin has leapt in value by more than 75 percent in four weeks.

“Bitcoin was designed to operate outside of the influence of governments and central banks, and is doing exactly that,” said Iqbal Gandham, Managing Director at retail trading app eToro, which has seen huge increases in cryptocurrency trading volumes.

CRYPTO-RIVALS ALSO RALLY

By 1245 GMT, bitcoin was trading up 8 percent on the day around $5,200 on Luxembourg-based exchange Bitstamp.

Though there have been many warnings about a bitcoin “bubble”, including from European Central Bank Deputy Governor Vitor Constancio, some say it has much further to climb. But determining its value is difficult.

“For most currencies there are several accepted methodologies for estimating relative value, normally based on macroeconomic fundamentals,” said EFG Asset Management’s Global Head of Research, Daniel Murray. “For bitcoin no such fundamentals exist.”

Other cryptocurrencies — whose prices tend to be highly correlated to bitcoin — also rallied. Their total value — or market capitalization — climbed above $160 billion for the first time since early September, according to industry website Coinmarketcap.com.

Two upcoming “forks” in the bitcoin software code, which will create rival clones of the cryptocurrency, were seen by some as a reason for the rise in price, which saw a boost after the “Bitcoin Cash” clone was created at the start of August.

“Investors are seeing the lessons of history in the up-and-coming forks and hoping for an extra dividend,” said Charles Hayter, co-founder of data analysis website Cryptocompare, adding that rumors on online forums that China could reopen exchanges could also be affecting the price.

(Additional reporting by Jamie McGeever; Editing by Catherine Evans)

Source link

source https://capitalisthq.com/bitcoin-rockets-above-5000-to-all-time-high/ from CapitalistHQ http://capitalisthq.blogspot.com/2017/10/bitcoin-rockets-above-5000-to-all-time.html

[everettwilkinson]

Bitcoin rockets above $5,000 to all-time high

A Bitcoin and Dollar notes are seen in this illustration picture taken September 27, 2017. REUTERS/Dado Ruvic/Illustration

October 12, 2017

By Jemima Kelly

LONDON (Reuters) – Bitcoin smashed through the $5,000 barrier for the first time on Thursday, jumping as much as 8 percent on the day as investors shrugged off the latest warnings on the risks of buying into the booming cryptocurrency market.

Bitcoin, the biggest and best-known cryptocurrency, has chalked up a more than fivefold increase in price this year.

Typically for bitcoin, which at less than nine years old is still highly volatile and illiquid compared with traditional currencies and assets, the precise reason for its recent tear was unclear.

Upcoming splits in its software, reports that Goldman Sachs is considering offering bitcoin trading, rumors that China could ease restrictions, and even a political crisis in Spain’s Catalonia region were all cited by market-watchers as reasons for the rally.

But the main factor could simply be demand from investors wanting ‘in’ on a market that has provided gains exceeding those of any other currency in every year bar one since 2010.

“People are just wanting to be part of it,” said Ryan Nettles, head of FX trading and market strategy at Swiss bank Swissquote, which launched bitcoin trading two months ago. Nettles said interest had been much higher than anticipated and has come from banks, hedge funds and brokers.

“The interest really stems from the media hype,” he added.

On Wednesday Russian President Vladimir Putin warned of the “serious risks” surrounding the nascent market, while Russia’s central bank said it would ban cryptocurrency trading websites.

But that was not enough to put investors off, with bitcoin rallying around 10 percent since then.

Data released last week from SEMrush, a search engine data analytics firm, found the price had a 91 percent correlation with Google searches on bitcoin, suggesting that all news — whether negative or positive — drives up demand, even if bad news can have a temporary negative effect.

Bitcoin almost reached $5,000 at the start of September, but fell back sharply after the head of Goldman Sachs blasted the cryptocurrency as a “fraud” and as China forced exchanges to close down, sparking fears of a broader crackdown.

But after dipping below $3,000 in mid-September, bitcoin has leapt in value by more than 75 percent in four weeks.

“Bitcoin was designed to operate outside of the influence of governments and central banks, and is doing exactly that,” said Iqbal Gandham, Managing Director at retail trading app eToro, which has seen huge increases in cryptocurrency trading volumes.

CRYPTO-RIVALS ALSO RALLY

By 1245 GMT, bitcoin was trading up 8 percent on the day around $5,200 on Luxembourg-based exchange Bitstamp.

Though there have been many warnings about a bitcoin “bubble”, including from European Central Bank Deputy Governor Vitor Constancio, some say it has much further to climb. But determining its value is difficult.

“For most currencies there are several accepted methodologies for estimating relative value, normally based on macroeconomic fundamentals,” said EFG Asset Management’s Global Head of Research, Daniel Murray. “For bitcoin no such fundamentals exist.”

Other cryptocurrencies — whose prices tend to be highly correlated to bitcoin — also rallied. Their total value — or market capitalization — climbed above $160 billion for the first time since early September, according to industry website Coinmarketcap.com.

Two upcoming “forks” in the bitcoin software code, which will create rival clones of the cryptocurrency, were seen by some as a reason for the rise in price, which saw a boost after the “Bitcoin Cash” clone was created at the start of August.

“Investors are seeing the lessons of history in the up-and-coming forks and hoping for an extra dividend,” said Charles Hayter, co-founder of data analysis website Cryptocompare, adding that rumors on online forums that China could reopen exchanges could also be affecting the price.

(Additional reporting by Jamie McGeever; Editing by Catherine Evans)

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Brazil Says Open to Aid for Amazon Fires, but Will Decide How It’s Used

Brazil said on Tuesday it was ready to accept foreign aid to help fight fires in the Amazon but only if it could determine how it was spent, in an apparent attempt to smooth over a public spat between the Brazilian and French presidents.

The comments by presidential spokesman Rego Barros came after governors of states in the Brazilian Amazon told President Jair Bolsonaro that they needed the money to help fight the record wildfires in the world’s largest tropical rainforest.

“The Brazilian government, through its president, is open to receiving financial support from organizations and countries. This money, when it enters the country, will have the total governance of the Brazilian people,” Barros said.

Separately, a diplomatic source in Brasilia told Reuters the Brazilian government had also accepted 10 million pounds from Britain to fight the fires. Bolsonaro’s press office was not immediately available to comment on the information.

Earlier on Tuesday, Bolsonaro had said he would only consider accepting a $20 million offer of aid from the Group of Seven wealthy nations if French President Emmanuel Macron withdrew the “insults” against him.

Bolsonaro and Macron have been embroiled in a deeply personal and public war of words in recent days, with Bolsonaro mocking Macron’s wife and accusing the French leader of disrespecting Brazil’s sovereignty. Macron has called Bolsonaro a liar and said Brazilian women are “probably ashamed” of him.

The office for the French president declined to comment.

Brazil’s president is finding himself increasingly isolated on the global stage over his response to the blazes, which threaten what many view as a key bulwark against global climate change.

The far-right government’s response could threaten Brazil’s trade deals and powerful agribusiness sector, which is a crucial driver of its recession-plagued economy.

“We think that it’s not the moment to turn down money,” Flávio Dino, the governor of Maranhao state, told reporters after a meeting in which Bolsonaro pledged to agree on a package of legislative measures with the states by Sept. 5 to help prevent the surge in forest fires happening again.

“The anti-environment rhetoric could expose Brazil to international sanctions,” Dino said.

The number of blazes in Brazil has skyrocketed 80% in the year to date compared to the same period in 2018, according to data from space research agency INPE.

About 90 km (55 miles) from Porto Velho, in the Amazon state of Rondonia, a Reuters witness saw houses abandoned due to the fierce forest fires. There were isolated patches of rain on Tuesday, but not enough to put out the fires, he said.

Widespread rain that could snuff the fires out are likely weeks away, according to weather data and two experts.

A local farmer, who declined to give his name, said he expected the fires to worsen next week when the forest is usually at its driest.

PUBLIC SPAT

G7 leaders pledged the $20 million after discussing the fires ravaging an area often dubbed “the lungs of the world”.

The offer, which was made at a summit in France on Monday, has stirred up emotions within Bolsonaro’s nationalist government. Some officials are grateful for the much-needed help, and others view it as a colonial gesture that undermines Brazil’s control of its lands.

Bolsonaro raised Macron’s ire on Sunday when the Brazilian leader responded to a Facebook post that compared the looks of his wife Michelle, 37, with Macron’s 66-year-old wife Brigitte. “Do not humiliate the man hahahah,” Bolsonaro wrote.

Macron, who has accused Bolsonaro of lying about climate change policy, called the remarks “extremely disrespectful” to his wife.

On Tuesday morning, Bolsonaro said he would only countenance accepting G7 money if Macron retracted his earlier comments.

“First of all, Macron has to withdraw his insults. He called me a liar. Before we talk or accept anything from France … he must withdraw these words then we can talk,” Bolsonaro told reporters in Brasilia. “First he withdraws, then offers (aid), then I will answer.”

Barros, the president’s official spokesman, told reporters later that Brazil was open to accepting international aid if it could decide how the money is spent.

INTERNATIONAL RESPONSE

U.S. President Donald Trump on Tuesday tweeted his support for Bolsonaro, an ideological ally on the environment, China and trade.

The Brazilian president “is working very hard on the Amazon fires and in all respects doing a great job for the people of Brazil – Not easy. He and his country have the full and complete support of the USA!” Trump tweeted.

Bolsonaro responded, also on Twitter: “We’re fighting the wildfires with great success. Brazil is and will always be an international reference in sustainable development.”

The fires are not limited to Brazil, with at least 10,000 sq km (about 3,800 sq miles) burning in Bolivia, near its border with Paraguay and Brazil.

Neighbors Peru and Colombia on Tuesday asked Bolsonaro to attend a meeting on Sept. 6 to discuss the disaster and come up with a long-term coordinated plan to stop deforestation.

Norway’s environment minister on Tuesday urged representatives of oil firm Equinor, fertilizer-maker Yara and aluminium producer Norsk Hydro to make sure their supply chains in Brazil are not linked to deforestation.

(Reporting by Lisandra Paraguassu in Brasilia and Leonardo Ben; Additional reporting by Gabriel Stargardter in Rio de Janeiro, Eduardo Simoes in Sao Paulo, Michel Rose in Paris, and Jamie McGeever, Anthony Boadle and Jake Spring in Brasilia; Editing by Daniel Flynn, Alistair Bell and Sonya Hepinstall)

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Brazil to Reject G7 Offer of Aid to Fight Amazon Fires: G1

Brazil will reject an offer of at least $20 million from the Group of Seven wealthy nations to help fight the fires sweeping through the Amazon rainforest, website G1 reported presidential chief of staff Onyx Lorenzoni as saying.

The offer, made by French President Emmanuel Macron at the G7 summit in the southern French town of Biarritz on Monday, had already drawn scorn from President Jair Bolsonaro, amid a rapid deterioration in personal relations between the two leaders.

(Reporting by Lisandra Paraguassu; Writing by Jamie McGeever; Editing by Daniel Flynn)

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