Mr. Chairman, Mr. Ranking Member and members of this Subcommittee, my name is James Rickards, and I want to extend my deep appreciation for the opportunity and the high honor to speak to you today on a subject of the utmost importance to the financial well being of scores of millions of Americans. The Subcommittee on Economic Policy has a long and distinguished history of examining the validity and efficacy of policies pursued by the Congress, the Administration and government agencies. In the wake of a stock market collapse in 2000, a housing market collapse in 2007 and a banking collapse in 2008, government policy choices to repair the damage have never been more important. Everyday Americans are frightened, confused and in many cases angry at the results of government stewardship of economic policy. A proper understanding of the impact of policy is critical and this Subcommittee is well placed to advance that understanding.
As a brief biographical note, I am an economist, lawyer and author and currently work at Tangent Capital in New York City where I specialize in capital raising and alternative investing. My colleagues and I provide expert analysis of global capital markets to investors, fund sponsors and government agencies. My writings and research have appeared in numerous journals and I am an Op-Ed contributor to the Financial Times, Washington Post and New York Times and a frequent commentator on CNBC, CNN, Fox, NPR and Bloomberg. My recent book, Currency Wars: The Making of the Next Global Crisis is a national bestseller.
The Federal Reserve began to cut interest rates in 2007 in response to a financial crisis resulting from a collapse in housing values. The Fed Funds rate was lowered from 5.25% in August, 2007 to effectively zero by December 2008 and it has remained at that level ever since. The Fed has declared an intention to keep short-term interest rates at this near-zero level through late 2014. If this intention is fulfilled, the entire course of the zero rate policy will have lasted six years, an unprecedented and extraordinary policy move on the part of the Fed.
The Fed's rationale for this policy has gone largely unexamined and unchallenged. Seasoned economists and everyday Americans have deferred to the Fed's expertise and have trusted the Fed to do the right thing to fix the economy in the aftermath of the Panic of 2008. The view is that Chairman Bernanke knows best and debate is unnecessary.
It should come as no surprise that an unprecedented policy should have unprecedented and unexpected results. There is ample evidence that the Fed's policy has failed to achieve its goals and is leaving the U.S. economy worse off when compared to a more normalized interest rate regime.
Increasing income inequality. Zero rate policy represents a wealth transfer from prudent retirees and savers to banks and leveraged investors. It penalizes everyday Americans and rewards bankers, hedge funds and high-net worth investors.
Lost purchasing power. Zero rate policy deprives retirees and those nearing retirement of income and depletes their net worth through inflation. This lost purchasing power exceeds $400 billion per year and cumulatively exceeds $1 trillion since 2007.
Sending the wrong signal. Zero rate policy is designed to inject inflation into the U.S. economy. However, it signals the opposite – Fed fear of deflation. Americans understand this signal and hoard savings even at painfully low rates.
A hidden tax. The Fed's zero rate policy is designed to keep nominal interest rates below inflation, a condition called "negative real rates". This is intended to cause lending and spending as the real cost of borrowing is negative. For savers the opposite is true. When real returns are negative the value of savings erodes – a non-legislated tax on savers.
Creating new bubbles. The Fed's policy says to savers, in effect, "if you want a positive return invest in stocks." This gun to the head of savers ignores the relative riskiness of stocks versus bank accounts. Stocks are volatile, subject to crashes, and not right for many retirees. To the extent many are forced to invest in stocks, a new stock bubble is being created which will eventually burst leaving many retirees not just short on income but possibly destitute.
Eroding trust and credibility. Economics has been infused in recent decades with the findings of behavioralists and social scientists. While this social science research is valid, the uses to which it is put are often manipulative and intended to affect behavior in ways deemed suitable by Fed policy makers. This approach ignores feedback loops. As retirees realize the extent of market manipulation by the Fed they lose trust in government more generally.
The effects on retirees and retirement income security are both the intended and unintended results of the Fed's efforts to revive the economy through a replay of the debt-fueled borrowing and consumption binges of the past fifteen years. Beginning with Fed rate cuts in 1998, which fueled the tech stock boom-and-bust, through the rate cuts of 2001, which fueled the housing bubble, until today the Fed has resorted to repetitive bouts of cheap money for extended periods. This monetary ease has found its way into inflated asset values that in turn provided collateral for debt-driven consumption. These binges drove the economy until the inevitable asset bubble collapses caused a contraction in consumption and launched another cycle. At no time were savers rewarded for prudence.
Solutions are straightforward. The Fed should raise interest rates immediately by a modest amount of one-half of one percent and signal that other rate increases will be coming. The White House and Treasury should signal that they support the Fed's move and support a strong dollar as well. The Fed and Treasury could commit to facilitate the conversion of savings into private sector investment by closing or breaking-up too big to fail banks whose balance sheets are littered with distressed assets. This will facilitate the creation of clean new banks capable of making commercial and industrial loans to small businesses and entrepreneurs.
The result, over time, would be to replace a consumption and debt driven economy with a savings and investment driven economy that rewards prudence and protects the real value of the hard earned assets of retirees and near-retirees.
Federal Reserve policy today is driven by fear of deflation and its consequences. Deflation raises the real value of debt, which increases the burden on debtors and eventually leads to defaults and acute stress on the banking system. Individuals and institutions increase cash holdings since the value of cash increases in deflation. This creates a liquidity trap and can cause economic activity of all kinds to slow sharply.
The Fed insists this deflationary dynamic must be avoided at all costs in a healthy economy. This was the lesson of the Great Depression of the 1930's as understood by Chairman Bernanke and other scholars.
Beyond these inflation-inducing tools, the Fed manipulates the behavior of consumers and savers by setting expectations. Inflation can be identified as the excess of nominal growth in GDP over real growth. Nominal growth is the product of money supply times velocity or turnover of money. Real growth is constrained by workforce participation and the productivity of that workforce. To create inflation, the Fed must find some combination of increases in money supply and velocity that exceeds the growth in the workforce and its productivity.
The Fed can increase the base money supply almost at will. The Fed's problems begin with velocity. If the money supply is increasing but velocity is declining at the same rate, nominal GDP will not change at all. This is the dilemma the Fed has been facing for the past four years. As illustrated in the following charts[ii] prepared by the Federal Reserve Bank of St. Louis, base money supply has more than tripled since 2008, however, velocity has plunged more than 30% in the same time period.
Monetary policy can therefore be understood as a "Great Race" between increasing money and declining velocity. The declining velocity greatly hinders the Fed's ability to pump up nominal GDP to the level needed to cause inflation.
The problem with velocity is that it is fundamentally a behavioral phenomenon. This means that the Fed cannot control velocity directly but only indirectly through the manipulation of expectations. Creating inflation that exactly meets expectations and roughly matches nominal interest rates creates no change in behavior because it is already priced into expectations.
Another arrow in the Fed's quiver of ways to increase velocity is the so-called "wealth effect." The idea is that increasing levels of consumer wealth, reflected mainly in housing prices and stock prices, tend to produce the kind of consumer optimism that results in more spending and higher velocity. The Fed's efforts to prop up the housing market have produced modest results because of the sheer size of the mortgage debt that needs to be written off, the excess inventory of homes and the difficulty in obtaining mortgage loans given high unemployment and impaired credit scores.
The Fed's efforts to prop up the stock market have been more successful. The popular Dow Jones Industrial Average has almost doubled in the past four years. However, the hoped for behavioral impact of this new bubble has been muted because of relatively low participation by many individuals who lost a substantial portion of their retirement savings in the Panic of 2008 and have remained wary of the market ever since. This wariness was exacerbated by the still unexplained "flash crash" of May 2010.
None of this behavioral manipulation can be admitted freely because it clashes with the Fed's mandate to maintain price stability. More to the point, the Fed cannot acknowledge that its goal is inflation in excess of expectations because to do so would be to change those expectations which would lead to market driven adjustments in nominal rates and reduce the shock effect. This makes the Fed's goal of changed behavior and increased velocity more difficult to achieve.
In summary, the Fed's goals are to maintain nominal interest rates in the range of zero to 2% while seeking inflation in the range of 4%. The result will be negative real rates that encourage borrowing and an inflation scare that stimulates spending. The combination of lending and spending should increase velocity which, when combined with the already ample money supply, should expand nominal GDP in such a way as to ease the real burden of government debt and reduce the government debt-to-GDP ratio. This policy of slow, gradual inflation and negative real interest rates pursued over a ten to fifteen year period is considered an effective way to erase the burden of government debt without hyperinflation or default.
The academic name for this policy is "financial repression." [iv] This policy of financial repression also involves the use of heavily regulated banks as captive buyers of government debt. The banks have relatively low capital requirements on their government securities holdings and use low cost deposits to fund those holdings. The resulting low risk leveraged spreads provide reasonably high returns on equity for the banks.
The Fed's policy of financial repression, implemented in part through its current zero rate policy is based on flawed economic theory and represents an assault on savers for the benefit of bankers and other leveraged investors.
A neo-Keynesian school that places all of its bets on the idea of "aggregate demand" dominates the Fed's understanding of economics. Aggregate demand is the sum of spending of all kinds including consumption, investment (excluding inventories), government spending and spending on net exports. This spending can be fueled by income or debt.
When private spending is too low, government spending can be used as a substitute. When private incomes are too low, debt can be substituted for income. When private debt is too low, government debt can be substituted for private debt. In the neo-Keynesian view, government borrowing and spending step in when private borrowing and spending are inadequate to fill the potential aggregate demand in the economy.
In the Fed's view, savings are the enemy of aggregate demand since any private savings represent a reduction in spending for a given level of income. The result is a war on savings.[vi] The Fed's policy is to drive savers either to consume more due to wealth effects or fear of inflation or to invest in riskier assets such as stocks in order to earn returns in excess of inflation. The goal is either to increase velocity directly through consumption or indirectly through wealth effects. Retirees and savers who protest that inflation is eroding the real value of their savings are told, in effect, to invest in stocks if they want positive real returns.
Yet, retirement savings, represented by relatively safe instruments such as bank certificates of deposit, U.S. Treasury securities, high quality municipal bonds and certain money market funds are not interchangeable with stocks. Stocks are risky, occasionally illiquid, volatile and offer no promise of the preservation of capital. The mantra of "stocks for the long run" lies in ruins after the twelve-year stretch from December 1999 to December 2011 when leading stock indices showed no gains. Based on extreme global monetary ease, there is good reason to believe that strength in stock indices in 2012 is another bubble in the making that will leave investors in tears. In any case, stocks can be highly inappropriate for retirees who should be looking for preservation of capital and steady income to provide income security for the remainder of their lifetimes.
Increased income inequality. As inflation increases and nominal interest rates are held artificially low, the real value of retiree savings and the income produced by those savings declines. However, this decline in wealth and income is not shared by all. More sophisticated investors and those who are alert to the tell-tale signs of inflation can weather the storm by incurring debt or investing in hard assets that retain value in inflation such as land, fine art, precious metals and certain companies that own hard assets such as railroads, mines and utilities. These differing responses are the result of gaps in risk appetite and financial literacy.
Not all investors are created equal when it comes to an understanding of the dynamics at play and the opportunities for defensive investing. Indeed, many Americans, especially retirees, are all too trusting of the Fed's pledge to maintain price stability when, in fact, the Fed has reduced the purchasing power of the dollar by over 95% since its founding in 1913.
The Fed's easy retort is that incomes have more than kept pace with declining purchasing power. Yet this is only true on average. Americans are not uniformly average in their experience of inflation. There are winners and losers. In recent decades the winners have been a minority and the losers have been a majority with the result that relative income inequality in the United States as measured by the Gini Coefficient is at an all time high and approaching the levels of Mexico.[vii] Retirees and those nearing retirement are the losers to the extent they seek to preserve capital and avoid risky assets.
Lost purchasing power. The Fed's war on savings is premised on the idea that savings represent a reduction in spending and therefore aggregate demand. This seems to ignore the lost spending from the diminished return on savings. The following chart prepared by Haver Analytics and Gluskin Sheff shows that personal interest income has fallen by over $400 billion per year and over $1 trillion in the aggregate since 2008 as a result of the Fed's zero rate policies.
While not all of this lost income would necessarily have been spent, it seems likely that the propensity to spend would be large due to high unemployment and the diminished availability since 2008 of other sources of funds such as home equity loans. This lost income, once converted into spending, could have added significantly to GDP over the past four years and must properly be counted as an offset to whatever benefits the Fed claims for its zero rate policy. This lost income effect is especially hard on retirees who may lack other sources of income such as wages or business revenues.
Fed Policy Sends the Wrong Signal. As described above, the Fed is engaged in an effort to modify behavior by engineering negative real interest rates and an upside surprise in inflation. These are the primary justifications for its zero rate policies. However, the Fed's understanding of behavioral effects ignores second order effects and positive feedback loops.
President James Bullard of the Federal Reserve Bank of St. Louis pointed out this flaw in Fed policy in a seminal paper, "The Seven Faces of 'The Peril'" published in 2010.[viii] Bullard posits a theoretical dual equilibrium in inflation expectations. One equilibrium points toward higher inflation and higher interest rates. The other equilibrium points toward deflation and lower interest rates.[ix] The Fed intends that its zero rate policy through 2014 should ignite inflationary expectations.
In fact, everyday Americans discern the Fed's fear of deflation implicit in a zero rate and prepare for a deflationary outcome by increasing savings and reducing debt – exactly the opposite of the Fed's desired outcome. Although Bullard is a "dove" on monetary policy, he recommended consideration of an increase in interest rates precisely to tip expectations in the direction of inflation. Bullard's insightful analysis suggests that the Fed is its own worst enemy when it comes to stimulating the economy.
Inflation is a hidden tax on retirees and near-retirees. When the rate of inflation exceeds the rate that can be earned on savings, a situation that prevails today, the result is a diminution in the real value of those savings. Inflation that exceeds the rate of return by 2% will cut the real value of those savings by 75% in an average lifetime. Inflation that exceeds the rate of return by 4% will cut the value of those savings in half between the time a girl is born and when she goes to college. Rates of inflation of 2% or 4% are not benign, they are cancerous.
To hear Chairman Bernanke talk about how he targets 2% inflation but would not be surprised if actual inflation "…might move away from…desired levels…", as he did in response to a reporter's question at a recent press conference, is to witness a gun held to the head of savers in America.[x] This destruction of real wealth by government fiat for the benefit of banks is no different than a tax used to redistribute wealth from targets to beneficiaries.
Inflation is even better than a tax from a political perspective because it requires no debate, no legislation and no accountability. It requires only the persistence of the Board of Governors of the Federal Reserve in the service of illusory wealth effects and negative real interest rates. Retirees and near-retirees understand inflation for the tax it is.
Creating New Asset Bubbles. Real wealth, including wealth in the form of stock prices, comes from innovation, entrepreneurship, hard work, risk taking, savings and investment. It does not come from printing money. The Fed's efforts to inflate stock prices in pursuit of wealth effects by printing money and manipulating expectations to increase velocity cannot by itself create wealth but can temporarily inflate asset prices into periodic bubbles.
Asset bubbles have a feel-good quality while they are being inflated and can temporarily mitigate the worst effects of deflation and deleveraging in the wake of panics and crashes. Yet, in the end, they lead to new panics and crashes and the destruction of bubble "wealth" and real wealth besides. The damage done by the Panic of 2008 has resulted in millions of Americans withdrawing from the stock market in order to protect wealth even if it means negative real returns. Recent advances in stock market prices have proceeded with relatively low volume and narrower participation than past advances.
The longer this persists, the more likely retirees will succumb to the temptation to seek positive real returns in the stock market rather than remain in relatively safe investments. This shift will likely coincide with the final phase of the bubble to be followed by another collapse and loss of more retirement savings. There is nothing wrong with investing in stocks that grow based on long-term fundamentals. Yet, stocks are an ill-advised investment for retirees for so long as stock values are the plaything of Fed officials engaged in behavioral experiments.
Erosion of Trust and Credibility. The most pernicious effect of Fed policy on retirees and near-retirees is a lost of trust in the Fed itself. The Fed controls interest rates. It influences the exchange value of the dollar. It intervenes to control stock prices. It does so not in pursuit of its mandate of price stability but in pursuit of the behavioral chimeras of velocity, wealth effects and expectations.
This is not too difficult for everyday Americans to understand despite the advance applied mathematics and arcane jargon in which such interventions are couched. Again, the outcome is the opposite of what the Fed intends. Instead of increased lending and spending, the Fed is confronted with increased confusion, fear and anger. The result is that scores of millions of Americans try to preserve wealth as best they can through deleveraging and liquid savings even at the risk of wealth erosion due to the Fed's zero rate policies.
It is a false dilemma to suppose that monetary policy is a choice between encouraging savings, which reduces aggregate demand, and discouraging savings to increase aggregate demand through consumption or wealth effects. In a well-functioning banking system, savings can be a source of real returns for savers and a source of aggregate demand through investment.
As late as the 1980's, large money-center commercial banks operating through syndicates made five-to-seven year commercial and industrial loans to finance massive private sector investments in projects like the Alaska pipeline, fleets of Boeing 747 aircraft, railroad rolling stock and other critical infrastructure. These projects were financed in large part with the savings of everyday Americans including retirees. Savers received a positive return on their money and the banks made good spreads and fees on the lending business. The government was not in the business of picking winners and losers although the government did create a favorable investment climate with accelerated depreciation and investment tax credits on qualified assets.
The 1980's were the apogee of sound policy. With Paul Volcker at the Fed and Ronald Reagan as president, Americans could count on sound money, less government intrusion in the investment process and a favorable business environment. America was open for business and was a destination for savings from around the world.
Today the United States does not have a well functioning banking system because of repeated regulatory failures by the Fed and other agencies since the repeal of Glass-Steagall in 1999 and the repeal of derivatives regulation in 2000. The conveyor belt between savings and investment traditionally provided by banks is broken.
With the repeal of Glass-Steagall in 1999 and derivatives regulation in 2000, the door was open to break down the traditional banking functions and allow banks to become highly leveraged machines for securitization and proprietary trading.
Securitization breaks the bond between lender and borrower because the bank cares only about selling the loans not collecting on them at maturity. This destroys the incentive to allocate capital to the most productive long-term uses. Proprietary trading induces banks to trade against their own customers to the detriment of long-term banker-client relations. These conflicts and short-term perspectives came to a disastrous conclusion in the Panic of 2008. Productive private sector investment and capital formation have been the victims.
Raising interest rates in stages to provide positive real returns to savers.
Banning over-the-counter derivatives that serve no role in capital formation but greatly increase systemic risk.
Breaking up too big to fail banks that pose systemic risk.
Offering real price stability. Two percent inflation is not benign, it is cancerous.
Create a favorable investment and growth climate by ending regime uncertainty in areas such as taxes, healthcare, regulation and other government impositions.
The United States, indeed the world, is mired in a swamp of seemingly unpayable debt. In these circumstances, there are only three ways out – default, inflation and growth. The first is unthinkable. The second is the current path of the Fed although it can only be pursued in stealth. The third is the traditional path of the American people. Growth does not begin with consumption, it begins with investment. Only when private productive investment is encouraged and pursued does consumption follow as the fruit of that investment.
America's retirees and near retirees are ready, willing and able to provide the prudent savings needed to fuel investment and growth. All they ask in return is stable money, positive returns and a friendly investment climate. The Fed's policy of money printing and negative returns is anathema to investment and growth. Until the Fed's war on savers is ended and reversed income security for retirees will be an illusion.
[i] The view that monetary ease can be effected and inflation created even when interest rates are at zero by cheapening the currency was advanced in, Svensson, Lars E. O., "Escaping a Liquidity Trap and Deflation: The Foolproof Way and Others," Working Paper No. 10195, National Bureau of Economic Research, December, 2003.
[iv] See, Reinhart, Carmen M. and Sbrancia, Belen, "The Liquidation of Government Debt", Working Paper 16893, National Bureau of Economic Research, March, 2011, https://www.nber.org/papers/w16893.
[v] For evidence that the government spending multiplier is less than 1 and therefore destroys rather than creates wealth once all secondary effects are accounted for, see, Fredman, Charles; Kumhof, Michael; Laxton, Douglas; Muir, Dirk; Mursula, Susanna, "Global Effects of Fiscal Stimulus During the Crisis," International Monetary Fund, February 25, 2010; Barro, Robert J. and Redlick, Charles J., "Macroeconomic Effects From Government Purchases and Taxes," George Mason University, Working Paper No. 10-22, July 2010; and Woodford, Michael, "Simple Analytics of the Government Expenditure Multiplier," Paper presented at the meetings of the Allied Social Science Associations, January 3, 2010.
[vi] The Fed is not unaware of the impact of its policies on the portfolio performance of those institutional investors such as insurance companies and pension funds who have large portfolios of fixed income assets intended to match retirement and other liabilities to their policy holders and beneficiaries. See, Transcript of Chairman Bernanke's Press Conference, January 25, 2012, question and answer with Scott Spoerry of CNN, pp 26-28, https://www.federalreserve.gov/mediacenter/files/FOMCpresconf20120125.pdf. However, this view is tinged with some derision of those who seek safe forms of savings. In a conversation between a senior official of a large investment bank and a member of the Federal Open Market Committee, the FOMC member justified the economic damage to pension funds and insurance companies caused by the Fed's zero rate policy by saying, "..they're not systemic…". In other words, the Fed views its mandate as propping up systemically important too big to fail banks even at the expense of the institutional retirement savings industry.
[vii] CIA World Factbook, U.S. Government Printing Office, 2010.
[ix] Bullard's dual equilibrium model bears some resemblance to the dual equilibrium between monetary expansion and contraction posited by Ben Bernanke in his landmark paper, "The Macroeconomics of the Great Depression: A Comparative Approach," Journal of Money, Credit and Banking (1995).
[x] See note 3, op. cit.


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Federal court: Klamath Basin tribal water rights outrank farmers' rights
The Yurok tribe said Sunday that the ruling by the U.S. Court of Appeals for the Federal Circuit was a key step forward.
Federal court: Klamath Basin tribal water rights outrank farmers' rights The Yurok tribe said Sunday that the ruling by the U.S. Court of Appeals for the Federal Circuit was a key step forward. Check out this story on statesmanjournal.com: https://www.statesmanjournal.com/story/tech/science/environment/2019/11/18/federal-court-klamath-basin-tribal-water-rights-outrank-farmers-rights/4230707002/
Associated Press Published 11:04 a.m. PT Nov. 18, 2019 | Updated 3:48 p.m. PT Nov. 19, 2019
Klamath River dams and river
Water trickles over Copco 1 Dam on the Klamath River outside Hornbrook, Calif. Associated Press file
Copco Reservoir on the Klamath River in Southern Oregon and Northern California is slated to be removed. Photo courtesy of American Whitewater
The Copco No. 1 dam on the Klamath River outside Hornbrook, Calif. Associated Press file
A kayaker heads into the large rapids in the Hell's Corner section of the Upper Klamath River. Photo courtesy of American Whitewater
The Iron Gate Dam spanning the Klamath River near Hornbrook, Calif. Associated Press file
The COPCO 2 Dam on the Klamath River outside Hornbrook, Calif. Associated Press file
The J.C. Boyle Dam diverts water from the Klamath River to a powerhouse downstream Keno, Ore. Associated Press file
An algae bloom in the reservoir behind Iron Gate Dam on the Klamath River near Hornbrook, Calif. Associated Press file
The J.C. Boyle Dam into the Klamath River near Keno, Ore. Associated Press file
The Copco I Dam on the Klamath River near Hornbrook, Calif. Associated Press file
The Klamath River backs up behind Iron Gate Dam Aug. 21, 2009 near Hornbrook, Calif. Associated Press file
The Iron Gate Dam on the Klamath River outside Hornbrook, Calif. Associated Press file
The Copco 2 Dam regulates outflows from Copco 1 upstream on Aug. 21, 2009 on the Klamath River near Hornbrook, Calif. PacifiCorp has tentatively agreed to allow this and three other dams to be removed from the Klamath to make way for restoration of struggling slamon runs. Associated Press file
The COPCO 2 Dam regulates flows on the Klamath River Aug. 21, 2009 outside Hornbrook, Calif. The dam is one of four that PacifiCorp has tentatively agreed to allow to be removed as part of efforts to restore struggling salmon runs to the Klamath River. Associated Press file
The Iron Gate dam in California is the the last one on the Klamath River operated by PacifiCorp before it runs southwest to the Pacific Ocean. It holds a fish hatchery adjacent to the dam. Herald And News
KLAMATH FALLS, Ore. (AP) — A federal appeals court has found that the water rights of Klamath Basin tribes take priority over those of farmers who sued the federal government in 2001 for reducing their irrigation water supply after a dry year.
The case over how to allocate Klamath River water among farmers, tribes and endangered fish has been in court for 20 years.
The farmers were granted water rights more than a century ago but the tribes say there isn't enough water left to preserve chinook and coho salmon, which are protected by the Endangered Species Act.
The irrigators have not decided if they will appeal to the U.S. Supreme Court.
Related: Klamath Dam removal plan could limit public access
Read or Share this story: https://www.statesmanjournal.com/story/tech/science/environment/2019/11/18/federal-court-klamath-basin-tribal-water-rights-outrank-farmers-rights/4230707002/
West Coast fishery rebounds in conservation 'home run'
Asian giant hornet found in Washington
Review to study more protections for grizzly bears
Dec. 9, 2019, 11:52 a.m.
Diesel leaking from BNSF locomotive reaches Columbia River
Delisting of gray wolves upheld by Court of Appeals
Nov. 29, 2019, 10 a.m.
Snake River sockeye salmon run falters, officials optimistic

redpajama_set_name: RedPajamaCommonCrawl


It's true. I'm head to toe in gacha items from the ALBERO SUMMER GACHA FESTIVAL.
My love of Gacha is 100% Elusyve's fault as she introduced me to it and now it's like crack to me. JUST ONE MORE HIT.
I'm in a tie at the moment for the accessory I love best this time, if it's the new glasses from Alphavillain (LOVE) or – the tasty MERFOLK MOUTHIE!
Nah, I think it's the Merfolk Mouthie. I mean, the arm dangling out of my mouth is total WIN.
Catch Of the Day – Goldfish Mer Munch!
This entry was posted in Expos, Fairs and Fundraisers, Great Places to Shoot and tagged Albero Gacha Festival, Alphavillain, amacci, Baiastice, Dark Mouse, Evie's Closet, Ingenue, MiaMai, Sn@tch, STaTUS on July 28, 2011 by Gidge Uriza.


text:
King's American Dispensatory, 1898. > The Preparations. >
Elixiria.—Elixirs.
Preparations:
Related entry: Syrup: Soda Water Syrups - Flavoring Extracts and Essences
Other tomes: BPC - USDisp - AJP1871 - AJP1871 - AJP1871 - AJP1885
Definition and History.—The term "Elixir" is an heirloom, and comes to us from the alchemist. Among the alchemical vagaries none stand more conspicuous than the Elixir Vitae. The substance designated in alchemy as an elixir may be defined clearly, in the language of Boerhaave, as "An artificial body of such virtue and efficacy as that, being applied to any body of any of the three kingdoms, it shall improve its natural inherent virtues, so as to make it the most perfect thing in its kind. Thus, for instance, if applied to the human body, it will become an universal medicine, and make such a change, both in the solid and fluid parts thereof, as shall render it perfectly sound, and even maintain it in that state, until the parts, being slowly worn away and spent, death gently, and without a struggle, takes possession."
Then came Paracelsus (b. 1493 d. 1541) who is generally accredited with instituting a new era in the study. He demonstrated that alchemy, which flourished in his day, and of which he was a zealous student, could be made of value to the physician. He originated the famous concoction "Elixir Proprietatis," made of saffron, aloes, and myrrh, claiming that who ever used it would "live as long as Methuselah;" then he died in his 47th year. Following this came the era of proprietary elixirs, all of them nasty and probably all frauds. Among these we may name Doffey's Elixir, Helmont's Elixir, Mynsicht's Elixir, Vigani's Elixir, etc. These naturally were imitated and gave lines of elixirs to the early pharmacopoeias. They were first introduced under fanciful names, which spoke of their uses, not of their constituents. They were all very disagreeable and usually bitter, being, in fact, compound tinctures. Finally, the original name became secondary and thus this class of compound tinctures, favorites in medicine until recently, were established. The following list will give the original (elixir) name of a few of these compounds and the resultant compound tincture, as it is still found in our pharmacopoeias:
Elixir Salutis gave us Compound Tincture of Senna.
Elixir Paregoricum gave us Camphorated Tincture of Opium.
Elixir Proprietatis gave us Compound Tincture of Aloes.
Elixir Stomachicum gave us Compound Tincture of Gentian.
Elixir Sacrum gave us Tincture of Rhubarb and Aloes.
Gradually the physician and pharmacist, under the march of civilization, revolted against these villainous concoctions. No aim had been made toward making them palatable; indeed, the contrary seemed evident. The London New Dispensatory (1770), however, named one elixir containing sugar. But at present, in European pharmacy and medicine, an elixir is still an alcoholic liquid free from sugar.
In 1859, Mr. Alfred B. Taylor, of Philadelphia, published in the American Journal of Pharmacy a formula for a sweetened "Elixir of Calisaya." The Druggists' Circular of the same year states that no previous formula had been published. Immediately manufacturers of pharmaceutical preparations threw lines of sweetened elixirs on the market. These were really cordials. In 1870 to 1874, the elixir mania was at its height. In 1871, Prof. J. Faris Moore, M. D., representing the American Pharmaceutical Association, on "Unofficial Preparations," included formulae for several of these popular mixtures. In 1872, Prof. C. Lewis Diehl read a paper on the elixir subject before the Louisville College of Pharmacy, which was published generally. The agitation was continued in the American Pharmaceutical Association, but finally the elixir craze died out, not, however, until a few of its members received recognition in the U. S. P. The American Elixir is a cordial, made of sugar, spirit, flavors, and drugs. It is not as disagreeable as the European Elixir and in that regard maybe entitled to preference. Eclectic physicians have always opposed elixirs. In the following pages will be found formulae from the National Formulary, for those most important. For more extensive lists the reader is referred to the National Formulary, and Elixirs, by J. U. Lloyd.
Elixir Aromaticum (U. S. P.)—Aromatic Elixir.
National Formulary Elixirs.
‹ Decoctum Ulmi.—Decoction of Elm-Bark. up Elixir Aromaticum (U. S. P.)—Aromatic Elixir. ›


The "Folegandros Sunset Trail" welcomes runners in one of the most breathtaking trail routes in an island well known from the Greek mythology. Runners can concur the island all by foot, due to its unique paths, leading to every edge of the island.
"Folegandros Sunset Trail", the second race of the Cyclades Trail Cup 2018, is here offering a unique 10km trail race with the view of the magnificent Cycladitic sunset.
Because runners will enjoy a small island, known for its hospitality and relaxing atmosphere, where everything seems like it came out of a fairy tale.
We offer several options varying from short weekend breaks in Folegandros including your entry to the race, to a full vacation plan in Folegandros and the surrounding area!
Moreover, we can offer you training plans, actual training in the streets and routes of Folegandros and, of course, we will run with you!
Registration is open until Tuesday, 19th of June 2018 or until a specific number of applications is reached.
* "Folegandros Sunset Trail" is combining athletics with music, so after the end of the race there will be a music event with traditional Cycladitic music.
Route: The first 400m are on an asphalt road leading to the path to Livadaki Beach. Following the northern coastline of the island, runners will enter the settlement of Chora and passing through the alleys they will finish at the main square in front of the Elementary School. The 10km route has a total altitude of 510m and consists of 90% of traditional stone cobbled streets. For your safety, you will need to wear closed trail shoes and socks higher than the ankle area. Compressive socks are ideal in this race.
Along the route there will be 3 supply stations providing: water, EPSA refreshments, NISSOS beer, nuts, raisins, salty and suit biscuits, fruits, honey and cereal bars.
All runners will be given a special, hand-made, commemorative metal. Athletes who did not take a stand on the podium will be placed in a draw for gifts from the Donors.
The Simple offer is addressed to those who wish to come and stay in Folegandros on their own. It includes all the logistics of the race entry, pasta party, transportation to and from the starting line, tips and advice for the specific race, training schedule depending on your personal targets and safe keeping of your belonging during the race. If you really want to feel like a champion, we are here to support you!
This offer is ideal for those who want to experience Greece the "running way", and get the most out of their visit in Folegandros. We have selected the ideal locations for you, and we will suggest you the ideal vacation plan. It includes the round trip from Folegandros to starting line and the hotel arrangements in Folegandros. It also includes your registration to the race and all the logistics of the race entry, pasta party, transportation to and from the starting line, tips and advice for the specific race, training schedule depending on your personal targets, safe keeping of your belonging during the race, suggested vacation plan for all the days that you will be in Folegandros, and many more! It starts from €250 per person (runner or not) for a three days/two-nights accommodation in a 4star hotel. If you wish to stay longer, you may add as many nights as you want for an additional €60 per night per person.
Please tell us all your requirements and preferences, how many days you want to spend in Folegandros, what other places you wish to visit and we will come back with a tailor-made offer specific for you! We can add trainings, running tours, car/bike rental, excursions, family activities and many more. In any case our offer will include the hotel arrangements, transportation to and from your hotel, participation to the race and all the logistics of the race entry, pasta party, transportation to and from the starting line, tips and advice for the specific race, training schedule depending on your personal targets, safe keeping of your belonging during the race and suggested vacation plan for all the days that you will be in Folegandros.
If you are a group of people, please tell us all your requirements, how many of you are running, what you like and what you do not like and we will come back with a tailor-made offer specific for you and your company! We can add trainings, running tours, car/bike rental, excursions, family activities and many more. In any case our offer will include the hotel arrangements, transportation to and from your hotel, participation to the race and all the logistics of the race entry, pasta party, transportation to and from the starting line, tips and advice for the specific race, training schedule depending on your personal targets, safe keeping of your belonging during the race and suggested vacation plan for all the days that you will be in Folegandros.
Folegandros is a small island that has an area of 32 km2, located between the famous and fashionable islands of Paros and Santorini. Due to the simple and relaxing atmosphere that reigns all around the island it is considered as the "island of Peace" and an untouched "piece of true Greece".
Folegandros is an island with many mountainous areas and a rocky ground.
The island impresses all visitors with the alterations of scenery. The wild mountainous bulks, the lacy shores, the green fields and the traditional settlements, create magical scenery. With traditional Cycladic architecture, breathtaking views and secluded beaches, it is ideal for those wanting to relax.
Folegandros has three small villages, Karavostasi (the port), the Chora, and Ano Meria. The Chora of Folegandros with the famous Venetian castle is built at a 200 m altitude. It is probably the most picturesque cycladic settlement. Chora is comprised of two settlements, the Medieval, inside the Venetian castle and the modern one, outside the castle walls.
Folegandros Chora, closed to car and motorcycle traffic, has a unique "center" of three squares in a row, with trees under which to enjoy a drink or food in a quiet, romantic atmosphere.
Karavostasi is the island's port, where visitors will find fishing boats intermingled with and yachts and can find traditional small tourist boats that go to uniquely beautiful virgin beaches with crystal waters and deep blue Aegean color. Ano Meria is a rural village with the typical "kafeneio" and taverns, that is spread over cultivated fields with a myriad of dry stoned walls.
At Ano Meria is the Laographic museum, which is one of a kind museum, as it is the first "Open Air Museum" in the whole of Greece. The museum symbolizes the quintessential cottage house, consisting of the principal house, the oven, cellar as well as the winepress and a miniature vineyard.
There are a variety of mostly quiet beaches around the island. Visitors can find some small beaches around the port area of Karavostasi. Specifically, about 1 km from Karavostasi is the beaches of Vardia and Livadi. From Ano Meria by 40 to 90 minutes walking many beaches can be reached, the finest being Agios Georgios, towards the northeast. From Hora a road heads north, hugging the cliff top and offering breathtaking views before descending sharply to the lovely sandy beach of Vathi Bay and the beaches of Angali and Agios Nikolaos.
The island of Folegandros is the paradise of hiking. Full with paths leading to beautiful, isolated beaches, Folegandros is provoking you to explore its landscape all by foot. The paths have been recently preserved and marked, so it will be easy even for beginners to hike through the island.
The island's specialty is a dish called "matsata", which is handmade pasta with either rabbit or chicken.


When you're craving golden pancakes, crunchy bacon, and savory eggs in the great outdoors, turn to the Camp Chef Professional Griddle for performance you can taste. The True Seasoned steel is ready to cook right out of the box, and a built-in heat diffuser plate ensures a uniform temperature across the entire cooking surface.
Amazing for car camping breakfast. We have used is a couple of times and it is the perfect size with the three burner camp chef to make coffee at the same time.
I love this thing! I love it so much that it's permanently set up on my back deck with the Camp Chef Yukon Burner. It makes taco night the best night ever. Also makes cooking during car camping trips amazingly simple, especially for large groups.
Can be used at home or out in the field. Very versatile, and packs easily for traveling. Nice quality.
Bacon and Eggs done right! Easy to clean, and the heat is dispersed evenly.
I bought this for so many different uses, but most recently for a trip to the Green River. We ate like royalty! This thing is beefy and built to last. Very impressed with it. If you want to 'cook it up' like you are at home, buy this!
I use the 1 stove set up along side a grill box on the home set up. Find this set up to be very versatile. Might be a little small if catering to larger groups but 99% of the time I am cooking for 2 so this works perfectly.
Bought these for some lengthy backcountry trips and they did not disappoint. Great for frying up whatever you please.
I've been grillin' on this for a few weeks now and I've got to say I really am enjoying this griddle. I purchased the larger one which has worked great but it's a different kind of grilling experience; I'd call it more of a griddlin' experience. The cooking surface temperature is pretty even through-out the griddle and one of the unexpected (and biggest) benefits of cooking like this is that the propane burn-off doesn't directly interact with the food you are cooking! Clean up takes a little extra work but all the burnt stuff doesn't end up in your grill after. I have been very happen with this griddle and find it has many more uses than just a grill surface alone.
This thing is amazing. Heats up quick and retains enough heat for all of your outdoor grilling needs. It also cleans up easy while you are at your favorite camp site.
I use this on a three burner stove next to a grill box. It fits perfectly (single burner) and makes cooking breakfast super easy.
Works perfectly on my camp chef stove! I love the smaller one burner size. Makes my stove more multifunctional! Yay! Griddle is a great performer. Heavy duty, I expect it to hold up for years to come!
If you need double the space this griddle is the one for you. Burgers, Bacon, Beets, Battlestar Gallactica. You name it, this can cook it!
Does this set on top of a regular gas grill?
I bought this to replace the my very small cast iron griddle. This griddle fits the top of the camp chef like a glove. Its nice not dropping potatoes down into the burners. A lot heavier than the one I own, but thats hardly a complaint. If you own a camp chef, buy this today.
Love the slab. Makes it easier to cook without grilling and instead can cook an array of food on one slab. It is also real helpful when cleaning because you can take all the grease and crumbs and soot them off.
This has been a great investment as you can practically cook everything from eggs, pancakes, to all kinds of meats and fish. Easy to clean and easy to transport with case. Very ideal in every situation.
This is a great griddle. It makes for some pretty delicious camp outings. Its nice and durable, and you gotta love the grease catch at the bottom so your grub isn't swimming in grease. Its also a breeze to clean.
Much love for this griddle!
SO much room on this double burner griddle makes it perfect for cooking large amounts of food!
Can this be used with an MSR whisperlite stove, or is it more for larger stoves?
Hey Samantha! That MSR Whisperlite is going to be too small to heat this griddle, you would have to go with something a little larger, something like the Camp Chef Teton 2-Burner Stove!
Will the single burner fit on camp chef mvp grill?


Founded in 2014, Bricktown is a french gluttonous clothing label based in Paris.
The designer, Samuel David Benainous born in 1989 draws his inspiration in the 90's, era of television and crazy video clips. The purpose is to put back on track the style from our vanished teenage years with a touch of fun and sobriety.
Thanks to entertaining but classy pixelated items, we've made the bet to create fashionable « conversation-pieces » of the out t inspired by old video games graphics. We want to bring joy and happiness into the wardrobe and therefore into the life of the wearer. If we can put a little smile on someone's face just by showing o one of our sweater and make a conversation start, then it is a success for us. Our collection is made with qualita- tive embroidered items and softer fabrics that we are really proud of. We deeply think the excellence of our products is what makes our clothes premium quality.


text:
KEN HOLLAND NEW GM! 5 year deal!
By arturo, May 5 in Oilers Discussion
Yuke 140
Starting Goaltender
1 hour ago, OilyJetFan said:
WIthout looking at the details, I bet the vast majority of those deals are cap friendly, except ours. I don't mind a NTC or NMC in a contract but only if we get a bit of a break. What makes PC's deals so bad is he OVERPAID the players on the NMC's to begin with (except McDavid as I believe he has one as well) - but Lucic, Sekera, and Russell all were overpaid and IMO if the agent wants that much money, then a NMC or NTC should not be included.
Koskinen is the 4th.
My bet is we wouldn't have those guys without the NMV, NTC
kman23 57
Location:Edmonton
holland has said he will gather information from people around the team to complete his understanding of the current roster . If not the OBC, then who?
I would bet the farm that kh will make whatever move he thinks will best suit his vision of a good foundation team. That might include the OBC, but at least I feel that they will not be making decisions any more. it will be interesting to see this all play out. Reality TV, folks.
HONEST ! A nybody B ut E dmonton
in pursuit of the McDraft sweepstakes...
IGibb 93
1st Line Center
2 hours ago, WHA fan said:
Since you brought up Kosk, I watched the Dallas game last night. Boy, Bishop was holding a clinic on glove saves. Reminds me how they are supposed to go. Lightning fast and actually catching the puck.
Yet he gave up 10 goals in the series over his blocker side shoulder.
Edited May 8 by IGibb
58 minutes ago, IGibb said:
3 hours ago, OilyJetFan said:
You should have looked it up. Cash friendly, I do not think so.
Coffey2Gretzky 147
Location:The Canadian Tundra
Before the hiring, some of you thought that Holland would not even consider coming here, as some of you put it..."tire fire". Well Mr Holland looked like he's excited to be here. along with his entire family.....
I hope he starts trimming the dead weight immediately....which is practically half the team imo....
I wonder how long will it take before some here start yelling "OBC"? And does this mean Mr Holland can't be seen having a cold one with Gretz, Coff, Lowe? which I'm sure he probably knows as acquaintances or even as buddies.
Anyway, glad to have you on board Mr Holland, Im sure you know your stuff!......I just hope some so call fans here have some patience with you......Good Luck!
94oildrops 25
Location:SPACE
37 minutes ago, Coffey2Gretzky said:
I'll be patient. Not willingly... But I will be.
GrooveyAsh 101
Holland has his share of detractors as well, as the Costa rant surely indicates. He goes a little wild but still addresses some valid points IMO , such as Holland's problems dealing with cap issues and NTC contracts....etc
I am hoping for the best here, but the proof will be in the pudding...
EternalFrost 36
I certainly never expected Holland to choose the Oiler gig, but I'm glad to be proven wrong. He's a GM renown for surrounding himself with good people, letting them do their jobs, and taking their advice.
I don't know how much roster turnover there will be, but he has made 68 trades over his career, so he's not afraid to make moves. He's traded with every team in the league except Boston, Colorado, Edmonton, Minnesota & NYI. His most common trade partners are NYR, Arizona, San Jose, Tampa, Nashville, and Calgary. He's not afraid to trade within the division, which opens up some interesting possibilities, especially as Lucic has indicated a preference to play on the West Coast.
Holland has known the OBC since his playing days. He's a grown man, welcome to be friendly with whoever he wants. If people don't like it, don't hang out with him or his friends. Simple as that.
Apps98 5
Location:Crowsnest Pass
Bishop was the main reason that game went to OT. He was incredible.
In my previous incarnation here, I was Apples&Hay, with over 10,000 posts...I'm back, baby!
"We have to believe in Free Will, we have no choice!
OilyJetFan 336
Alternate Captain
6 hours ago, Yuke said:
Oh yeah, Kos - good one. I'm sure McDavid and Drai have it too (without checking) but It think it kicks in later in their contracts (so they can't be dumped in their last year or two if they won't sign here). As for them not signing, I don't believe that. I doubt very much Russell would have received a better offer and Koskinen, no way anyone would have signed him for that kind of money after only 30 games or so. Standard practice is if you want a NTC or NMC, then you sign for less - it's the price you pay for 'stability'. If you want max dollar +, then that isn't included. McDavid is an exception, I'd have given him anything he wanted.
You might be right with Kos. But not sure Russell signs "with the Oilers" for less.
RapierShot 130
Location:On Your Screen
Hoping we'll see Keith Gretzky extended for Holland's term. Seems like a great situation for mentoring and preparing Keith to take the reins when the time comes. Oh, and do something serious about the pro scouting side - they should be toe-tagged out of here.
P.S. Here's a picture you won't want to see....if the Blues win the SC, chances are we'll see Chiarelli in the pics (he's "attached" to the Blues currently). That would be the Everest of irony!!!
The Future Ain't What It Used To Be
3rd Line Agitator
My first impression of Holland. Pretty good.
Messrules11 176
14 hours ago, RapierShot said:
I gotta laugh when I keep seeing posts advocating Kretzky as some sort of prized future GM. Holland has a 5 year deal, what's to say it won't be longer? If the team is successful why wouldn't he continue? He'll be 68 when the deal expires, Lamoriello is 77 and still going strong. Kretzky has done well as a scout, that's it. The guy who hired him as assistant GM is Chiarelli, what a genius and judge of personnel he was. Some beautiful trades them two pulled off eh?
I will take a wait and see view of this. Happy it's not KG. Not convinced Holland isn't an "Old Boy" or that he will do anything to stir the dirty water in Edmonton.
But, as I said, can't evaluate him until he starts doing stuff. And even then, it'll take a good two years to get a realistic assessment of him.
"Patience" will be the operative word ....... again/still/forever.
26 minutes ago, DeutchOil said:
Yeah but Deutch it doesn't matter who was hired, it's still going to take awhile. PC really screwed us, especially at the end when he traded away both Strome and Caggila for, literally nothing. Luckily, somehow, KG was able to turn Spooner into Gagner, who isn't a great player but he does do some things ok and can at least play in this league.
Out of all the trades that idiot did, the Caggiula for Manning trade is by far the worst one. TBH, I'm still trying to figure that one out. I really can't understand how anyone would make that deal under any circumstance notwithstanding the history this guy has with McDavid. He (PC) pretty much destroyed his GM career (not that it wasn't already) with that last move. And it was Hitch who was pushing for it.
I'm actually good with Holland. I like what he said. I like that he admitted right off the hop that he's made mistakes in the past, and will make mistakes in the future. But I also like his plan. He wants a fast team, a transistion team, to match the style that is being played today.
And one other thing that no one has mentioned yet except for one person (can't remember if it was on TV or radio though TBH) - but who do you think would carry a bigger voice at a GM meeting................... just putting that out there. I guarantee you that Lou Lam and Holland, when those guys speak at a meeting, everyone shuts up and listens. And these are the guys that make rule changes.
The more I sleep on this, the more happy I am with this choice. Though I still want to see what our roster looks like come mid-July after the draft and free agency, and what our coaching staff will be comprised of. I'm still hoping like a lot of us for Todd Nelson. He'd be my first choice, but I'm not going to lose my mind if he isn't it... if Dallas Eakins returns I might get upset though
Edited May 9 by OilyJetFan
Where is the proof that Hitch was the one pulling for Manning. I asked this from you before.
Please no, "I have insider info" remarks
Eakins totally got screwed by Hall and his "I didn't listen to coaches" attitude. We had a few punks on this team and they cost Eakins a lot of respect
Edited May 9 by Yuke
mrtea 112
Location:moncton, new brunswick
48 minutes ago, Yuke said:
There is so much that goes on behind the scenes that I dislike looking back at past failures and then playing the "blame game'. With the Manning trade, saying that Hitch was pushing for this trade is basically giving Chiarelli a free pass for agreeing to such a bad suggestion. As a GM if you act on every bad suggestion that comes your way you will soon be out of a job. If Chiarelli listened to this suggestion and acted on it, he deserved to lose his job.
It's possible a few bad apples made Eakins look worse than he was, who knows ? I don't, but I didn't like the way Eakins always looked forward without reacting, like a bad imitation of an owl. I want a coach that will talk to his players once in a while giving a pat on the back or trying to teach a new approach without over doing it.
Nope - no insider info. Just listening to podcast, Rishaug on Neiilson's show in the morning. Stauffer has mentioned it on his, and I think I even saw it in print. It was even talked about after Holland's press conference. I haven't spoken with my insider for awhile actually, and TBH, in a few more weeks, I suspect I won't have an insider anymore.
Don't you listen to Sports talk radio at all? Or read blogs?
It's actually a well known fact as Hitch himself - in one of his post game conferences too - don't you recall the "Thank God for Peter for bringing in..." I won't use double quotes after that becase after that I don't specifcally remember the wording but it was along the lines of 'bringing in two veterans like Manning and Petrovic'.
Short memory Yuke, or selective? And yes, Hitch was pushing for help as soon as Klefbom went down, he had also mentioned that, or should I say 'insinuated' it, in his game pressers up to the trade.
The only real 'speculation' was whether or not he asked for Manning by name - some say he did, others say he just asked for a couple more vet dmen.
But either way, I don't really want him around - at least not where it comes to making player personal decisions, he is the dinosaur here.
Messrules.....where in my comments am I advocating Gretzky as "some sort of prized future GM"? Given that there is an opportunity here for him to learn and grow (courtesy of Holland), why not take advantage of that? He knows the organization, has experience in the amateur side, so why not grow from there? That's how GMs are developed.
When you know Holland has a 5 year deal and still think 5 years from now that Gretzky will be the next GM, it tells me that you have the blinders on.
I do not live in Edmonton. I usually use my own judgement since I am not hunting for ratings as most reporters are.
All I have ever heard is Hitch asked for help. Not Manning by name.
That along with the known conversation PC had with Connor the year earlier where Peter asked Connor if it was ok to bring in Manning. Hitch was not even with the team then. This leads me to believe Hitch had zero input on who was coming in.
Not sure why all the Manning hate either ( besides he may not be that good). I see little difference between his play on CM and that of Giordano 's. Now there was some chirping later, He was trying to throw the Oilers off their game. Not a chance IMO did he purposely try to injure CM, but he did try and piss off the Oilers and know what, he did. Guys were chasing him all around that game. And like Hendricks when he cheap shot Ekblad (now that was dirty) he manned up and fought .
Do you like Kassian? Want to talk purpose injury. There is one and do you not see who is his team mate? Kass gets a lot of praise on here.
CM is a big boy now and I am even sure he realizes what Manning was up to and that he actually got hurt on a hockey play.
Kassian has absolutely nothing to do with this. Here are the facts Yuke:
1. Manning hurt McDavid and yes, he got 'under his skin'\
2. It was TM that told PC if he signed him he wouldn't play, this was why that idiot didn't sign him (at least we had one guy with half a brain on the pro side)
3. When we traded a TOP 9 forward for this clown, who was 3rd or 4th our on team in goals at the time, Manning wasn't even playing, and we were ahead of Chicago in the standings. Manning hadn't played in over a MONTH - not because the coach didn't like him, but because he was no good. In fact Stan Bowman got raked over the coals for signing that jerk in the off season
This is why I still think this trade is terrible and why I don't like Manning, cause he's useless. The McDavid thing showed his character (remember, Kassian was in a dark place in his life when the Gagner thing happened). We would have been better off keeping and playing Jason Garrison.
And it was in February when I first heard that it was Hitchcock that was pushing for Manning specifically. One thing I will give you, is that sometimes someone will say something that is wrong, and other people pick up on it and if enough people say it, well it becomes 'fact'.
Oh, one specific place I heard it now that I remember, is on the cult of hockey podcasts with Staples and McCurdy. That was what I was reference re: Ken Holland presser. I was watching their podcast recapping it and they brought it up when they got to Hitchcock not returning as HC, which, trust me, is a very very good thing. The game has passed Hitch by as he showed in his last year of coaching in Dallas. And like Peter, he believes in big, heavy, slow teams. We have McDavid, he will not thrive on a big, heavy, slow team. You reserve that philosophy to teams that don't have any good players.
Kassian, no matter what world he was in delivered an intentional wicked slash/highstick. But, given a chance he has become a fan favorite (mine too).
I still don't understand your hate on Manning himself. You have explained the very poor transaction. But how was that Mannings fault. It isn't like Manning put a gun to PCs head and said trade for me and make sure it is for Connors buddy (a 3-4 th liner on most teams, 2nd line filler & I too hate the trade). Your hate energy should be put on PC and KG, not Manning.
Mind you, everyone has their own person to hate. Myself, I think Jason Smith was a horrible captain. He was just as much to blame for the Canes goal (2006 SC finals) in game one but let Conklin take the whole blame. How a captain, never mind a team mate does that. Jerk move.
Hitch, he believes in big defensive teams, pretty sure every coach in the league would prefer fast over slow though.
Speaking of blinders, Mess.....you know that the last 2 GMs here didn't finish out their contract terms? So anything is possible regardless of the contract.
I'm hoping that Holland is wildly successful and is GM for at least the 5 years...but I don't regard that as a guarantee.
TeamEllis 127
Honestly I love this hiring.
Holland brings some respectability back to the Oilers when before we had absolutely none. The days of GM's salivating at the thought of ripping us off should be long gone. He has friends around the league and connections. He believes in growing talent and not dropping 12 million on the free agency market. He said the path should be to the Condors and then to the NHL. He knows players like JP need confidence and can't be rushed.
Reading through Red wing forums it seems very apparent that Holland is all about the grind. He is always working. Hell his 2nd day here he flew out to Bakersfield. I remember reading a story about the wings winning one of their various cups and the next day after the parade he was found starting his work on the draft. This guys dedication is 2nd to none. He is already moving out here with his family which shows some dedication and commitment to the city. Cough *Chia* Cough. According to red wing fans he has already been working tirelessly on this years draft.
Also Holland has some pull. He has a HOF resume for Gods sake. I truly believe there will be some changes in the office in the next couple of months. I understand why nothing was done immediately because of the draft coming up and free agency. Do you think a brand new head GM like Hunter, Burke or to some extent McCrimmon would have the stones to go against the OBC and turf guys like Howson, Schwartz, or someone like Paul Messier? I am not saying they are 100% gone but if someone is going to do it.. it is Holland
Hopefully this is the end of the OBC putting their stinky fingers in the pie, terrible pro scouting and rushing young players. Good luck Mr.Holland you are going to need it.
Edited May 10 by TeamEllis
I guess, lets just say I can't stand border line players trying to make a name for themselves by taking out a star player. You're right in that he answered the bell, etc etc but I still don't like him as a person, or as a hockey player. I guess, the best way to say it, is when I played, I played hard and I played as fair as good but 'stuff' happened. When I injured someone, I never gloated about it, I never egged the guy on afterwards, I felt genuinely bad about it. Didn't stop me from playing hard, but I never, ever did anything to intentionally hurt anyone.
Manning had zero remorse about, the gloated about it and as I understand he never even sent a note off too him apologizing or checking in to see how he was. In the old days, players used to drop by the hospital or at least phone them to say "hey, sorry about that hope for speed recovery" or something along those lines.
Manning never did any of that and just dissed him more.
I don't think Kassian did either btw - but he's a different cat now, he was in a dark place. I think Manning is what he is. I don't think he has a lot of 'friends', or respect, amongst his peers.
And yes, if had the decency to txt McDavid after to apologize and wish him well, that would have gone a long way in my books. So that's the personal part.
Regardless of McDavid, I never, ever, would have done that trade. I'm still not happy with the high 3rd round pick for Petrovic either. But at least that I can live with. The day Manning is no longer an Oiler, i'll have a drink to celebrate. And I really hope they send him to a team in Alaska this year. No buy out - it's not worth it.
WHA fan 49
On 5/8/2019 at 10:25 AM, IGibb said:
Right. I mentioned his glove hand. The catching one.
My point is he still had a exploitable weakness to his game. Like almost all goalies have.