Why do a Translation MA? A Bit of Help for Language Graduates

Last summer I got my BA French from the University of Bristol. Wahooo!! But despite always doing well in my translation classes I’d never been sure what to do next. The last thing I wanted was to be just like thousands of other graduates – floundering around, unemployed, in a cloud of self-pity, while social and political commentators poured their hearts out to me on breakfast news… No, that was not going to be me. That MUST not be me.

So what did I do? Well, having returned from the sausage factory-like degree ceremony/formal sending-off into the fabled ‘real world,’ I set about deciding what I’d been best at over those four years, and what I’d enjoyed. Yes, the French history side of things was good, and the cubism/surrealism/post-modernism stuff was pretty cool too, but none of it really got me going. The one thing (and I mean the ONE thing) that never failed to interest and satisfy me was taking a French sentence, however complex, and making it look like it was first composed in English. That is a skill to take forward. No red pen, no crossings-out by the professor, just that one solitary tick at the end of the line… Magic. I know many of you can relate to that so don’t try to deny it! We’re language geeks. It’s what we do.

In the wake of this revelation I talked to some friends (also language geeks) about what the next step should be. They were keen on translation like me, with some interest in interpreting too. Throughout the final term we had many discussions about what we each wanted to do with our languages, and Masters courses came up almost every time. Bristol offered a distance learning MA in Translation, and I talked to the convenor several times about her course. It sounded so interesting – translation theory, CAT (computer-aided translation) tools, practical translation classes… I wanted to know what else was out there and what options I had to improve myself and build on the skills I already had. How else would I distinguish myself from the crowd? This seemed the perfect way to do it. One year, intensive and stimulating learning, picking up valuable and highly employable skills.

So I started the application process. It took a while – cover letters, course research, references, all to be done by the end of July.

In the end I got a place on the MA Translation Theory and Practice course at UCL. (Almost broke my hand on the kitchen table with the celebratory fist pump…) But what aspects of this course (or ANY Translation MA) make it worth doing? Here are but a few: gain a background in translation theory – allows you to make better informed translation decisions; in-depth knowledge of the way the industry functions; how to market yourself as a translator; advanced instruction on the use of various translation memory tools – essential for making a good living as a translator; advanced language-specific translation classes; subtitling experience; careers advice lectures and seminars… the list goes on!

Having stood at the edge of post-graduation oblivion, I am now learning to do what I love, with massively improved employment prospects at the end of the academic year. But please don’t be fooled. Education alone will not guarantee success. You have to do more. Here are a few things I have done in the last few months to try and boost my prospects:

(step 0 – ensure the funds are available to pay for the course! This might be a draw back for many of us, but it will pay off, guaranteed)

1) create an online translation portfolio (which you have now kindly visited!)
2) email every translation company and agency under the sun for internships, with a brief cover letter and copy of your CV – must get yourself out there EARLY
3) apply for membership of a professional translation body – CIOL, ITI etc – this will draw in clients and give them more initial trust in your ability
4) NETWORK – use sites like LinkedIn to get your name out there and get in touch with seasoned professionals. Twitter is also good for publicising your portfolio posts.
5) always follow the advice of guest lecturers/speakers – these guys are usually highly experienced and know what they’re talking about
6) remember, maintain and build on your own areas of interest – a specialism is a valuable thing to have. The easiest way to develop one is to build up experience of translating in a field you already have some background in. That might be sport, politics, art etc.

People tell you that a degree is a great thing to have, that it makes you more employable and gives you valuable skills that set you apart from the rest. The fact is that now, thousands of people are graduating every year with the same research skills, the same independence, the same organisational skills, and the same great communication skills. Frankly I am sick of the word ‘skills’ because everybody has them. What we as young graduates need is a specialism that makes us indispensable. Excellence at degree level translates as mediocrity in the professional world. Establish what you’re good at; take it to a higher level and EXCEL.
For the language geeks among us, a translation MA is the way to go.

James Shields.

 

Socrates. The Loss of a Legend 23/12/11

One of the most talented players in Brazilian history died on Sunday morning. Socrates, a former attacking midfielder and captain of the Seleçao, has died after a serious intestinal infection.

One of the icons of the 1980s has left us forever. Sampaio de Sousa Vieira de Oliveira, otherwise known as Socrates, was 57 years old and big brother of ex-Parisian Raï. He died on Sunday morning at the Albert Einstein hospital in São Paulo, following a serious intestinal infection for which he had to be hospitalised on Thursday. The much feared outcome of his unfortunate alcohol problem, which he acknowledged in September after a second hospitalisation in three weeks (to treat a digestive hemorrhage), came as a consequence of over-consumption.

But along with his image as a rangy attacking midfielder, as well as being the symbol of the incredible national team that he captained at the 1982 World Cup, Socrates leaves behind him a void in Brazilian culture. A true anomaly among his peers, this tall bearded man made a success of what has become almost unthinkable today, by studying for a degree in Medicine during his professional playing career. His stature, intelligence and especially his elegance with the ball at his feet all made him a perfect ambassador for the sport, for the largest country in South America.

A political and social role

He had a role which he carried forward to the social and political scene, engaging publicly in his own way against the military dictatorship which prevailed at the time (1964-1985). With Wladimir, then other partners, he founded the Corinthian Democracy which called for a decision suggested within his own club, Corinthians, to be adopted after a vote by the players.

At the time when nobody in Brazil wanted to publicise a great desire for freedom, this political change within the league’s flagship team (then in the sporting doldrums) was made in the collective footballing memory of Gilberto Gil’s country, a man who had written a song in homage to this atypical democracy. ‘Democratia’ was a word seen in 1982 on the players’ jerseys, including Socrates, as it made itself public. Socrates smoked one packet of cigarettes per day and sometimes a cigarette at half-time. A legend, one might say.

Source text written by William-Alexandre Proust of Sports.fr. See the full French article here: http://www.parismatch.com/Actu-Match/Sport/Actu/Socrates.-La-disparition-d-un-mythe-360529/

 

Great Britain in the Streets (04/12/11)

This Tuesday Great Britain witnessed the most significant public sector strike action for thirty years.

Great Britain hadn’t seen such strikes since “the winter of discontent”. Teachers, hospital personnel, border staff, British civil servants… Several hundred thousand public sector employees were on strike this Tuesday, many of whom took to the streets to protest. It constitutes a massive social movement, the likes of which have not been seen since that of 1978 – 1979 (which brought about the fall of Labour Party member James Callaghan and the accession of Margaret Thatcher to Prime Minister), to protest against the plans of David Cameron’s Tory government. They include the pushing back retirement age and the lowering of pensions.

Predicted far in advance, this strike affected the health service, schools, taxes and museums, as well as impacting the transport system. A group of thirty trade-unions called for people to stop working. Some of the unions involved had not called for strike action for ten years. That union of headmasters had never gone on strike in their 114-year history. According to the Education Minister, 62% of English state schools were closed (14% partially); 80% in Wales and 98% in Scotland. The health services cancelled or deferred a quarter of their routine operations.

Several ministries reported that a third of their employees were on strike. The authorities recruited volunteers from other ministries to compensate for the staff shortage at customs. For David Cameron, the social movement is nothing more than a “wet firecracker”. The Prime Minister then reported that 40% of schools remained open and that there was normal traffic through Heathrow airport – which does seems to be the case. He called for the trade unions to continue discussions until the deadline of December 31, but the representatives of the civil servants retorted that the government is not listening to their claims.

More strikes to come

The British government has again seen a steep fall in its growth forecast, and recognises that it will need longer than envisaged to reduce the budget deficit, which will lead to the prolonging of austerity measures beyond election day in 2015. Starting in 2020 the retirement age will be pushed back to 68. The public sector retirement reform will lead to an average rise of more than 3% in public worker pension contributions. Some reforms have already reduced the amount of certain pensions by 15%.

In his speech on Tuesday about the state of the UK economy, George Osborne announced that the rise in public sector wages, frozen until the end of 2012, would be capped at a maximum of 1% as of 2013. Shortly after his less than optimistic speech to parliament, the Chancellor of the Exchequer told the BBC that, “The strike will count for nothing.” It won’t change anything. It only will weaken our economy further at the cost of new jobs.” The government claimed that the action would cost £500 million; a “whimsical” figure according to trade unions’.

Dave Prentis, General Secretary of Unison, a trade union accounting for 1.4 million employees, warned that other strikes would be organised if the government held its position. Brendan Barber, General Secretary of Trades Union Congress, a confederation made up of about sixty trade unions, claimed that for the workers it was no longer a question of agreeing to a “temporary sacrifice” but of accepting a “significant permanent reduction” in their standard of living.

Source text written by Clément Mathieu. See the full French article here: http://www.parismatch.com/Actu-Match/Monde/Actu/La-Grande-Bretagne-dans-la-rue-359363/

 

Nicole Scherzinger – Lewis Hamilton: A new change of course? (03/11/11)

According to the Daily Mail, the ex Pussycat Doll and the former Formula 1 world champion have recently separated, following rumours of an announcement of their engagement last summer.

It’s very tough to follow Formula 1, and even more difficult to take to the wheel of 2008 world champion Lewis Hamilton’s racing car. He was the youngest champion in the history of the sport, before having the record snatched from him by the precocious Sebastian Vettel. From that point on they have lived and worked in parallel with each other, striving for the seemingly impossible. According to the ‘Daily Mail,’ the beautiful Nicole Scherzinger finally threw in the towel after four years of a relationship that invoked jealousy in more than one member of the paddock. Long distances apart were apparently the cause of the break, if we believe the English tabloid. The former Pussycat Dolls singer now wants to focus on a dual career as a musician and actress, and will be working as a judge on the ‘X Factor.’ An anonymous source also informed the ‘Mail’ that they realised their relationship was impossible to maintain, with such demanding commitments.. The anonymous informant said, “They remain very good friends and it was an amicable break-up.” And in an effort to dismiss any speculation, Miss Scherzinger made sure to deny on Twitter all rumours of last summer’s engagement …

BACK TO 2010

Our two lovebirds had previously separated in January 2010, already tired of having too little time to dedicate to each other due to their busy schedules. A month later, on Valentine’s Day, the couple surrendered to the obvious: they couldn’t live without each other. So they decided to fight for their relationship. Lewis actually told the BBC that he had made up with his sweetheart. “I just wish Nicole could be in Bahrain with me, but she’s a long way away,” he said. “She’s currently working on her album and has a busy schedule, so she’s working hard. If she can come, so she surprised me and it will be fantastic, but I know she has to work, so maybe next time, “had he resigned, before concluding on a positive note: “When something is worth doing, we must do everything possible to make it work.” Things finally broke down again a year and nine months later.

Source text written by Yannick Vely. See the full French Article here: http://www.parismatch.com/People-Match/Sport/Actu/Nicole-Scherzinger-Lewis-Hamilton-nouvelle-sortie-de-route-345423/

 

Max Mosley’s “Nazi Orgies” face the French Justice System (21/09/11)

The ex-president of the FIA, who got himself mixed up in the sadomasochistic orgies scandal, has lodged a complaint against the News of the World in France.

The affair gave News of the World one of its most famous cover stories, with an ‘unforgettable’ title: “F1 BOSS HAS SICK NAZI ORGY WITH 5 HOOKERS.” The (hardly) remorseful tabloid which redressed its position when it was shut down in July, in true free media-fashion, re-reported the, “F1 boss’s unhealthy Nazi orgies with five prostitutes.” On March 30^th 2008, News of the World had published a number of images taken from a video showing the then President of the FIA, Max Mosley, willingly engaged in sadomasochistic acts with streetwalkers dressed as soldiers. On Tuesday, the 70 year-old Brit asked the French justice system to impose sanctions upon the paper for, “Slander,” and, “Invasion of private intimacy.”

The former head of the federation founded in Paris at the start of the 20^th Century will see his case against News International – the company that owned News of the World which was shut down following the phone hacking scandal – examined today by the 17^th correctional tribunal chamber in Paris. Mosley had already gone through the French justice system in April 2008 to get the publication of images of him banned in the country. The judge then declared himself unable to see the case through, arguing that it was up to the High Court of Justice in London to settle the matter. The F1 boss won his case a few months later on July 24^th 2008 before a London tribunal. The court ordered the newspaper to pay Mosley £60,000 worth of damages (€76,000 at the time), as well as £420,000 of legal fees (€532,000), which was the highest sum ever agreed in the UK for an invasion of privacy.

Mosley, son of the head of the British Fascists

The judgement underlined the seriousness of the scandal. Yet the tabloid went on to describe the sadomasochistic actions of the head of the powerful FIA with the prostitutes, who he described as being dressed in camouflage or as concentration camp prisoners. The controversy was greater even than that of Max being the son of Oswald Mosley – founder and leader of the British Fascist Party, supporter of the Nazi regime in the 1930s – “Son of Hitler-loving fascist in sex shame,” was News of the World’s headline… In response to this, Max Mosley denied all Nazi connections and spoke out about the scandal surrounding the violation of his private life. But the revelations ultimately cost him his prestigious job. Numerous people, including a few high-ranking members of the FIA, voiced their opinion that he should resign, but the federation showed renewed confidence in him during an extraordinary meeting. Mosley served his term to its end in November 2009, but didn’t claim his leaving bonus.

Last May, Max Mosley was denied his petition against the UK by the European Court of Human Rights, which he accused of having insufficiently protected his private life. Max Mosley’s hope was that newspapers would, in future, be obliged to inform people in advance that details of their private lives were set to be publicised. Evoking the dissuasive aspect of a system of prior notification, regarding all forms of information, the Court concluded that the British tribunals had found a fair balance of respect of people’s privacy and the freedom of expression. Even though the jurisdiction of the European Council recognised that the, “Conduct of the newspaper in this affair has been subject to severe criticism,” it stated that the publication of such information, “whether it is mostly intended to amuse or to educate, benefits undoubtedly from article 10,” of the European Convention of Human Rights which protects the freedom of expression.

Source text written by Clément Mathieu. See the full French article here: http://www.parismatch.com/People-Match/Sport/Actu/Les-orgies-nazies-de-Max-Mosley-devant-la-justice-francaise-334843/

 

The Red Hot Chili Peppers keep on going (19/09/11)

After a long break, the Californian band is on the offensive again with a new record, and a tour which includes a stop at the Stade de France.

It’s like a travelling promotion. At 48 years old Anthony Kiedis has lived many lives and made many records. He loves being on stage, and is nowhere near as happy behind the curtain. He told us that, “Normally after two days of talking to journalists I feel sick. It’s been three days now, and I must confess that I’m enjoying myself.” The Red Hot Chili Peppers singer likes to charm people, and his recent sobriety hasn’t affected his strong spirit. If anything it’s made it better. For the last ten years he has replaced alcohol, smoking and other drugs with green tea and sushi. His long Californian surfer-style hair has disappeared, and instead he now sports a rough-looking moustache that suits his new personality. He explained that, “We’ve spoken to each other about how we’ve spent so long writing this new album, but these last five years haven’t seemed so long. We’ve been producing it for two years, and it’s true that for the first time in our lives, we’ve had a two year-long holiday. I’ve spent the time doing two things: surfing and doing things with my son. And to be honest, he’s totally bonkers.”

Everly Bear is three years old and his father never stops praising him. “He’s like me, but he already has his own personality. What’s more he’s much better looking and more intelligent than me.” Even the Californian rockers can go mad. “Before, I drew inspiration from my demons – solitude, alcohol and my chaotic love life. With ‘I’m With You,’ it was the first time that I wrote something while not falling in love or completely alone. And it’s true that even if none of the songs are specifically dedicated to him, they all have some form of link to him.” Fatherhood isn’t the only influence of the Chili Peppers’ tenth album. In the background there’s also a true but distinctly inamicable separation. John Frusciante, the tenebrous guitarist who had already left the group once in the 90s, left for good three years ago.

We’re a group. Everything is democratic with us

Anthony assured us that there was nothing tragic about this departure. “It was a good thing for everybody, a great relief, but there was no anger. We couldn’t continue together, that’s all.” People behind the scenes are saying that if Kiedis and Frusciante had been exchanging rehab centre addresses for years, the gifted guitarist has still not managed to overcome his addictions as well as the singer. None of his ex-associates, especially Josh Klinghoffer, will confirm who his replacement will be. As discrete as his colleague Anthony is talkative, the tall brown-haired man remains seated on the sofa and plays with the sleeves of his teenage-style hoodie. But although he looks timid, the musician’s face is as vivacious and electric as his guitar playing. The experienced Californian band didn’t choose him to replace the legend that is Frusciante for nothing.

At 31 years old, Josh has already played alongside Beck, Gnarls Barkley and PJ Harvey. Moreover, it was he who secured the last dates of the ‘Stadium Arcadium’ tour, the Peppers’ preceding album released in 2006. “Kiedis explained that, “It’s the first time that a collaboration has started like that. We’ve known each other since 1999. We were fans of his work as he was of ours. I want to say that at no stage did we ever doubt his talent. The uncertainties and stress were replaced by excitement and anticipation of working with him. That’s all there is to it.” Josh could easily feel flattered, but he preferred to explain himself. “I must confess that what I dreaded most was the promotion. It really bored me. Writing and recording this album, that was some experience, and I had no desire to share or explain it. But in the end we were forced to tell people what we’d been doing and to make our arrangement and our coming together public.”

He doesn’t dare say more about it. But even if he prefers to act reserved in interviews, it’s clear that he has found his place in the group. His intense and poetic guitar playing is audible throughout. The African and electronic influences of the rock-funk that’s so characteristic of the Californians, that’s him and the bassist Flea. And it’s he who brought unanimity among the three original members by way of the album’s title, ‘I’m With You.’ Kiedis happily recalls that, “We all made that decision. We’re a group, everything is democratic with us.” Almost thirty years after their formation the Californian rockers still have their spice, and have found some calm as well.

“I’m With You” (Warner). In concert on October 18^th and 19^th at Paris Bercy, and in June 2012 at the Stade de France.

Source text written by Marie-Pierre Galinon. See the full French article here: http://www.parismatch.com/Culture-Match/Musique/Actu/Les-Red-Hot-Chili-Peppers-arrachent-toujours-334295/

 

The diesel-powered Blues (13/09/11)

The French team beat Japan 47-21 in Auckland on Saturday, asserting themselves as contenders for the World Cup. But despite six tries from Pierre (5^th minute), Trinh-Duc (12^th), Clerc (34^th), Nallet (71^st), Papé (78^th) and Parra (80^th), the Blues’ performance was far from reassuring as they wilted for much of the second half.

The Blues played with fire against Japan. We thought it would be a great game for the French, and the six tries they did manage to score would have one believe that it was a walk in the park. This wasn’t really the case, particularly during the painful second half. The French team had been growing impatient over the few days leading up to the opener against Japan. The French let fly at the start of the game with a breakthrough by Estebanez, then a first scrum driven forward to claim their territory. This made a significant impression, and was swiftly reinforced by the first try of the match. It began with Médard and led to a series of passes between Mas, Lakafia and finally Yachvili who gave it to Julien Pierre, who took it across the line. Yachvili converted to make the score 7-0 in the 5^th minute.

When Arlidge missed the first Japanese penalty of the game in the 11^th minute, the Blues kept up the pressure with an interception by Trinh-Duc who then ran the length of the pitch down his wing to score a second try. This took the score to 12-0. The Blues were in a good position after the try was converted for 14-0. But the Japanese then opened their account with a try from Arlidge to make it 14-3. Despite this, Yachvili was not put off and he earnt his team two penalties, pushing the score up to 20-3. After a Japanese attack, the stand-off half didn’t stop bringing misery to the French – he tried a forward kick which was met by Trinh-Duc, but the ball fell back into his hands and he ran to 32^nd minute try, for 20-8. At the time it seemed to be of little significance, but this could not have been more wrong.

Even though France managed to strike one more time, with Heymans passing to Rougerie who sent it out wide to Clerc for the 3^rd French try, (25-8 in the 35^th minute), the following period would prove to be much more nerve-racking. At half time after a penalty scored by Arlidge (25-11), Marc Lièvremont voiced his disapproval live on TF1: “Five line-outs, five decent runs, there’s not much to smile about. We are ill-disciplined. It’s all well and good to be winning by such this margin, but I expect more from them.” An analysis of the Blues’ problems which perfectly describes the… second half! Whether or not the selectors had obviously moved players around during the break, the effects were only temporary.

Ten minutes, three tries, ouch!

The French team started the second half with Harinordoquy crossing the line with three Japanese players on his back, including Taniguchi who stopped him diving to the ground (43^rd minute). Nallet then scored another try, this time from the pack. It looked like a well-earned three points, but the video referee disallowed it… And following this strong period by the French was a black hole! The Blues’ form dropped off dramatically, and the Japanese suddenly looked sharp. Then James Arlidge took advantage of a number of missed tackles to record his second converted try, leaving the score at 25-18 after 51 minutes. A softly-conceded try is as unpleasant as it is unexpected.

Everybody in the stands was feeling the tension, and Marc Lièvremont’s first changes couldn’t stop prevent the Nippons worrying the French. The Japanese enjoyed a very strong spell and attacked the French line hard. Arlidge took advantage of the good play by scoring a penalty in the 57^th minute, for 28-21. The host of difficulties faced by the French led to Skrela leaving the field, having hardly been part of the game. He was replaced by Parra who would soon make his presence known. Whenever Tupuailei made a brilliant twisting run, the Blues were forced to try and make progress of their own.

This attempt at progress began with a penalty taken by Yachvili which pushed the French to a 7 point lead in the 67^th minute, before three tries in the final ten minutes. Nallet, Papé and finally Parra contributed to a somewhat misleading score line, with six tries and the bonus point that goes with it. It could be said that the undermining paid off. Though that is not exactly what an angry Lièvremont was thinking. “I am not relieved, rather angry. I’ve got a feeling of déjà-vu. We have to make use of the work we do in training, respect our opponents and respect ourselves,” he said through clenched teeth on TF1. We’ve lived up to the expectations much better in other games. The selector always knows that his team will come out fighting.

Source text written by Michaël Balcaen of Sports.fr. See the full French article here: http://www.parismatch.com/Actu-Match/Sport/Actu/Des-Bleus-au-diesel-equipe-de-France-331287/

 

The New Gold Rush (05/09/11)

Demand for the precious metal is peaking throughout the world. From Europe to the USA, to Asia and India, Paris Match has conducted a survey on all fronts.

“Do you sell gold?” With a motorbike helmet in his hand, a twenty-eight year-old mechanic from Vélizy arrived in Paris, on Vivienne Street behind Bourse Square, with 2,000 Euros in his pocket. He prefers to buy gold rather than, “placing money in an unreliable savings account.” So he is, “Trying to catch people he sees leaving upmarket boutiques, who he thinks might be able to sell him some gold, hand-to-hand.” In the open markets in August, traders noticed a renewed interest in the yellow metal. Instead of tourists exchanging currency, they’ve been seeing no end of men and women of all ages and social classes, looking to buy gold and secure their savings.

Remarkably busy behind her counter, Karine says that, “Business is booming. People are getting frustrated in the queue! Others even try calling me from their holiday locations to carry out transactions.” And there are those who prefer to buy and sell online and by post. Nevertheless, the French taste for gold – they have the largest amount of gold in the world, weighing 3,500 tons – has lessened. Everything changed following the collapse of Lehman Brothers in 2008 and the economic crisis. Staffs at French credit and gold experts company CPoR explained that, “We saw a huge purchasing rise in April, at the time of the Greek crisis.” The French gold specialist said that since July 15^th they had recorded a surge in gold handling activity of 50%. It needed the last financial crisis for gold to once again assume its role as a means of safe investment.

Fears of the Euro Zone exploding and of a return to recession, and the lowering of the USA’s credit rating…

So what brought about this change? The reasons are well-known: Fear of the Euro Zone collapsing as a result of its member nations’ national debts, fear of a return to recession in developed nations, inflationary pressure in emerging nations and – an significant trigger mechanism – Standard and Poor’s historic lowering of the USA’s credit rating. Gold lost its lustre in the 1980s to the benefit of the stock markets and housing market, and importantly in the summer of 1971, Richard Nixon announced that the US dollar could no longer be converted into gold. Until now, nothing had managed to send prices skywards. Not even the stock market crash in 1987, or the fall of the Berlin Wall, or the collapse of the USSR, or the September 11^th attacks…

…And the price of gold shoots up

With an increase of 160% since October 2008, 20% of which occurring over the last three months, the price of an ounce of gold in New York is once again a good indication of the level of people’s fear. August saw another record broken, with gold reaching $1,816 per ounce. That equates to almost $60 for one gram of the highly sought after metal. Ten years ago this would have been unthinkable. Analysts would have assured us that capitalism would have to disappear, if gold were to be what we’d turn to as a last resort!

Investors, particularly the professionals, are rediscovering the precious metal. For the first time in thirty years, more gold has been sought out for investment than for jewellery. Lysu Paez-Cortez, a precious materials analyst at Natixis, says that, “The massive recent increases reflect a clear feeling of uncertainty, accentuated by the massive Russian financial movements and by the fears of global economic meltdown. In November 2010, the massive injection of liquid assets into the markets by the American Federal Reserve prompted investors to turn to gold.”

Investors everywhere are trading life insurance plans and bank notes for gold ingots, coins and jewellery… to the point of London’s strongrooms becoming saturated and rent prices climbing. Local press in Thailand reported new about the President of the Gold Negotiations Association. Jitti Tangsithpakdi is enthusiastic: “Gold ingots are selling like hot cakes! Shops are running out.” In France, the Paris Mint can be proud of having minted more than 200,000 gold Euro coins since 2008. The value of the first one hundred Euro coins has risen by 50% over three years. And the day after it was put into circulation last April, the golden one thousand Euro coin (of which 10,000 were minted) was already worth close to 1,300 Euros on the internet. Each time they come out, these rare coins sell within three days.

Gold fever grips the Chinese

Director General of the Paris Mint, Christophe Beaux, explains the situation: “The passion is palpable. Customers of all social backgrounds are not hesitating to draw money from their savings accounts to get hold of golden Euros. These coins are valuable for three reasons. They are made from a precious metal, and as such their value fluctuates with that of the raw material. They also have a face value (the amount written on the coin itself) which assures a minimum trade value. And they are rare, because only a limited number were minted. This also gives them a high value in collectors’ eyes.” The fever is even gripping the Chinese, encouraged by the authorities. Lysu Paez-Cortez adds that, “Many private investors are buying gold: At the beginning of the year the State authorised the holding of funds in the form of precious metals. Sales of coins and ingots to investors reached 90 tons in the first quarter of 2011, which represents a rise of 123%!”

Moreover, for the first time the Chinese are competing with the Indians for the title of greatest global consumer of gold. But the bar is high! Gold finery cannot be ignored at Hindu marriage ceremonies. The majority of yearly sales occur during marriage season, between December and April. The World Gold Council has done its calculations. Fifty percent of the Indian population is aged below twenty-five and 150,000,000 marriages take place each year. This must be the reason behind the sale of 500 tons of gold each year! The demand for gold takes the lion’s share of global stocks. Last year there was a total of 168,300 tons of gold in the world… of which jewellery constituted the majority (84,100 tons). The rest of the stocks were divided between investment funds and the banks (31,400), industry (20,200) and the central banks (29,000).

The time when the large western central banks would get rid of gold to garnish their currency reserves is now a bygone era. In 2010, for the first time in twenty-one years, they bought more gold than they sold. Emerging countries, swamped with liquid assets, bought gold to reduce their dependence on the dollar. Thus, in the first quarter of 2011 almost 99 tons of gold were bought by Mexico, 48 tons by Russia and South Korea has just helped itself to 25 tons: Hong Taeg-ki, the man responsible for the management of reserves, recently explained the nation’s actions: “This safety net will help us face the volatility of the global financial markets and breed investors’ confidence in South Korea in times of crisis.”

When will the price of gold cease to increase? As great as the current rate of increase might be, the price of gold has not yet reached the levels attained in January 1980, the day after the invasion of Afghanistan by Soviet troops. At that time it reached $850, which equates to $2,100 today. Forecasters are sweating over this. Lysu Paez-Cortez affirms that, “As long as the governments don’t manage to stabilise the markets, prices will remain high and liable to change. But the current price records are the result of a bubble fed by liquidity, and we think we are close to the point at which prices will start to drop again. In the short term, it is still possible for prices to rise. We estimate that the cost of an ounce of gold could reach an average of $1,550 by the end of 2011 if the economic situation does not improve, and an average price of $1,300 in 2012.” At Goldman Sachs they anticipate a peak in 2012 of around $1,900. At JP Morgan, they are going so far as to bet that an ounce of gold will reach $2,500 by the end of this year!

The more that prices soar, the more gold will be mined. And, with 2,823 tons predicted for this year (5% more than last year) according to Natixis, it is evermore unlikely that demand will be met. China has been the global superpower in this domain since 2007, ahead of Australia and the USA. China alone is responsible for the majority of gold production. Mines everywhere are once again becoming profitable. In the USA, there is a new rush for Californian gold. In Canada, mines are reopening. In the Yukon for example, the Brewery Creek mine ceased to function because of the fall of the price of gold. However, nine years and a change of ownership later, the price of gold is five times higher and they are now once more able to operate and make a profit.

In Venezuela, President Chavez has announced the nationalisation of gold

In Abitibi, Québec, eight hours’ drive north of Montreal, the Canadian Malartic site has just been reopened. There is a sense of déjà-vu: more than 1,000,000 ounces of gold have already been extracted from the old underground mine, which previously functioned between 1935 and 1965. Its owner, Osisko, hopes to produce an average of 630,000 ounces each year, over the course of more than twelve years. With the cost of extracting one ounce of gold currently at around $300, Osisko’s Director General could congratulate himself at the start of August for the, “Very favourable-looking gold market.” Sean Roosen declared that, “The sound predicted profit margins should allow for investments to be paid off in just under two years.” In Venezuela, the world’s fifteenth largest gold reserve, President Hugo Chavez undoubtedly made the same judgement. He has just announced the nationalisation of gold. This law was created so that the country might have a hand in, “The finding and exporting,” of the precious metal. Colombia wants to double its mining industry over five years, by leaving the door wide open to international mining companies. The Colombian people are worried about the environment, with the mining threatening to pollute the neighbouring rivers which are essential for agricultural production.

More than 12,000 kilometres away, the same fears plague the inhabitants of Djermouk in Armenia, where the exploitation of an open-cast gold mine has just begun. In Romania, a project aimed at opening another mine in Rosia Montana, in the Carpathian mountains, is spreading fear among residents. A Canadian society has been trying to reclaim 300 tons of gold (and 1,400 tons of silver) for sixteen years. The extraction would threaten a roman archaeological site, and it would be done with the aid of cyanide. Nobody has forgotten the ecological catastrophe of Baia Mare in January 2000. A burst dam lead to 100,000 cubic metres of water contaminated with cyanide pouring from the storage lake of a mine, into every water course in the region. The ecosystem was destroyed, the drinkable water was polluted, thousands of fish died and certain species were wiped out entirely.

Survey by Valentine de Panafieu

Source text written by Anne-Sophie Lechevallier. See the full French article here: http://www.parismatch.com/Actu-Match/Economie/Actu/La-nouvelle-ruee-vers-l-or-326867/

 

A Look at War through Images (31/08/11)

From Spain in 1936 to Lebanon in 2006, ninety of the most striking photographs from war reports are on display at the Maison Européenne de la Photographie (European House of Photography).

As a testimony against war, the exhibit is also an attempt at reflection upon the symbolic power of images.

Images which have portrayed opinions

Published in the biggest magazines, widely broadcast and commented on, the majority of the pictures on display have been influential in the history of photojournalism. Among these most famous images, the visitor will find the American flag erected in Iwo Jima during the Second World War, signed by Jim Rosenthal. Then there’s Nick Ut’s photograph of a small girl who has been burnt by napalm during the Vietnam War, and then the soldier traumatised by bombs, by Don McCullin. Among the more recent images, you will see the wake in Kosovo by Georges Merillon, the mass graves in Bosnia by Gilles Peress and the petrol tank fires during the Iran-Irak War by Henri Bureau.

The symbolic power of images

The dramatic tension that comes across in the images is particularly striking, and this tension is achieved through symbolism and suggestiveness. A photograph by Robert Capa taken in 1936 shows a republican militiaman collapsing, cut down by a bullet. This image epitomizes its genre. As an emblematic icon of the Spanish Civil War, this photograph opened the door to the era of photojournalism. The documentary value and great narrative power of the images on display allow for a much deeper understanding of the various conflicts which took place over the course of the last century.

One thinks back in particular to Larry Burrows’ colour photograph entitled ‘With Open Arms.’ It shows wounded American soldiers, one of the standing, totally exhausted, and another on the ground, with mud stained uniform. There’s an infinite weariness in their eyes. Larry Burrows’ work contributed to the revival of American consciousness when it came to war, and started the protest movement against the seemingly never-ending Vietnam War.

We should remember that more than any other medium, photography has the capacity to strike a chord with people’s minds, “To revive public awareness,” as Robert Capa’s brother Cornell put it.

Source text written by Thomas Lamy. See the full French article here: http://www.parismatch.com/Culture-Match/Art/Actu/Regars-sur-la-guerre-323585/

 

Kobe Bryant, once again confronting his Demons (23/08/11)

The basketball player is said to have attacked a young man in a church.

Did Kobe Bryant openly attack a young man in a church in San Diego? Whatever the case may be, that is what twenty year-old Thomas Hagos (the supposed victim) is accusing him of. According to the local CBS outpost, the L.A. Lakers star was at the Saint Theresa of Carmel church in San Diego on Sunday, with his family. That is when he came across Thomas Hagos. Thinking that the young man was taking a picture of him, Kobe Bryant rushed towards him to try to seize the mobile phone. He claims he returned the phone to its owner after saying that he didn’t want any photos taken of him. The sportsman supposedly then left the church. But Thomas Hagos claims he had to go to hospital with a minor wrist injury.

The police want to talk to the star

According to the Los Angeles Times the San Diego police would like to question the player. Firstly, the inquiry team want to hear the victim’s version of events. But on Tuesday a San Diego police spokesman made it known that they, “Want to hear from both parties,” The interview with Thomas Hagos is expected to take place next week. The Lakers defender’s lawyer, Mark Campbell, suggested that his client, “Is fully aware of the unjustified accusations against him and is ready to defend himself.”

This isn’t the first time that Kobe Bryant, already thirty-three years old, has made the headlines for reasons other than his exceptional sporting ability. In 2003, he had to defend himself against accusations of rape brought against him by a nineteen year-old hotel employee. That particular legal affair eventually collapsed. The supposed victim, Kate Faber, effectively refused to take part in proceedings. In the face of rumours surrounding her sexuality and various threats, the young woman preferred to abandon the case. At that time, Kobe Bryant released a statement to remove all ambiguity. “Although I genuinely consider our relations to have been consensual, I realise now that she didn’t and still doesn’t perceive the incident in the same way as me.” And if Kate Faber did indeed start a legal procedure against the basketball player, it came to nothing: the two parties made peace through private discussion.

Source text written by Gabriel Daunadou. See the full French article here: http://www.parismatch.com/People-Match/Sport/Actu/Kobe-Bryant-accuse-d-agression-dans-une-eglise-323129/