MAKEUP AND HAIRSTYLING

WINNER

DARKEST HOUR

Kazuhiro Tsuji, David Malinowski and Lucy Sibbick​

 

OTHER NOMINEES

VICTORIA & ABDUL

Daniel Phillips and Lou Sheppard

WONDER

Arjen Tuiten

 

ACTOR IN A SUPPORTING ROLE

WINNER

SAM ROCKWELL

Three Billboards Outside Ebbing, Missouri

OTHER NOMINEES

WILLEM DAFOE

The Florida Project

WOODY HARRELSON

Three Billboards outside Ebbing, Missouri

RICHARD JENKINS

The Shape of Water

CHRISTOPHER PLUMMER

All the Money in the World

 

ACTOR IN A LEADING ROLE

NOMINEES

TIMOTHÉE CHALAMET

Call Me by Your Name

DANIEL DAY-LEWIS

Phantom Thread

DANIEL KALUUYA

Get Out

GARY OLDMAN

Darkest Hour

DENZEL WASHINGTON

Roman J. Israel, Esq.

 

ACTRESS IN A LEADING ROLE

NOMINEES

SALLY HAWKINS

The Shape of Water

FRANCES MCDORMAND

Three Billboards outside Ebbing, Missouri

MARGOT ROBBIE

I, Tonya

SAOIRSE RONAN

Lady Bird

MERYL STREEP

The Post

 

ACTRESS IN A SUPPORTING ROLE

NOMINEES

MARY J. BLIGE

Mudbound

ALLISON JANNEY

I, Tonya

LESLEY MANVILLE

Phantom Thread

LAURIE METCALF

Lady Bird

OCTAVIA SPENCER

The Shape of Water

 

ANIMATED FEATURE FILM

NOMINEES

THE BOSS BABY

Tom McGrath and Ramsey Naito

THE BREADWINNER

Nora Twomey and Anthony Leo

COCO

Lee Unkrich and Darla K. Anderson

FERDINAND

Carlos Saldanha and Lori Forte

LOVING VINCENT

Dorota Kobiela, Hugh Welchman and Ivan Mactaggart

 

CINEMATOGRAPHY

NOMINEES

BLADE RUNNER 2049

Roger A. Deakins

DARKEST HOUR

Bruno Delbonnel

DUNKIRK

Hoyte van Hoytema

MUDBOUND

Rachel Morrison

THE SHAPE OF WATER

Dan Laustsen

 

COSTUME DESIGN

NOMINEES

BEAUTY AND THE BEAST

Jacqueline Durran

DARKEST HOUR

Jacqueline Durran

PHANTOM THREAD

Mark Bridges

THE SHAPE OF WATER

Luis Sequeira

VICTORIA & ABDUL

Consolata Boyle

 

DIRECTING

NOMINEES

DUNKIRK

Christopher Nolan

GET OUT

Jordan Peele

LADY BIRD

Greta Gerwig

PHANTOM THREAD

Paul Thomas Anderson

THE SHAPE OF WATER

Guillermo del Toro

 

DOCUMENTARY (FEATURE)

NOMINEES

ABACUS: SMALL ENOUGH TO JAIL

Steve James, Mark Mitten and Julie Goldman

FACES PLACES

Agnès Varda, JR and Rosalie Varda

ICARUS

Bryan Fogel and Dan Cogan

LAST MEN IN ALEPPO

Feras Fayyad, Kareem Abeed and Søren Steen Jespersen

STRONG ISLAND

Yance Ford and Joslyn Barnes

 

DOCUMENTARY (SHORT SUBJECT)

NOMINEES

EDITH+EDDIE

Laura Checkoway and Thomas Lee Wright

HEAVEN IS A TRAFFIC JAM ON THE 405

Frank Stiefel

HEROIN(E)

Elaine McMillion Sheldon and Kerrin Sheldon

KNIFE SKILLS

Thomas Lennon

TRAFFIC STOP

Kate Davis and David Heilbroner

 

FILM EDITING

NOMINEES

BABY DRIVER

Paul Machliss and Jonathan Amos

DUNKIRK

Lee Smith

I, TONYA

Tatiana S. Riegel

THE SHAPE OF WATER

Sidney Wolinsky

THREE BILLBOARDS OUTSIDE EBBING, MISSOURI

Jon Gregory

 

FOREIGN LANGUAGE FILM

NOMINEES

A FANTASTIC WOMAN

Chile

THE INSULT

Lebanon

LOVELESS

Russia

ON BODY AND SOUL

Hungary

THE SQUARE

Sweden

MUSIC (ORIGINAL SCORE)

NOMINEES

DUNKIRK

Hans Zimmer

PHANTOM THREAD

Jonny Greenwood

THE SHAPE OF WATER

Alexandre Desplat

STAR WARS: THE LAST JEDI

John Williams

THREE BILLBOARDS OUTSIDE EBBING, MISSOURI

Carter Burwell

 

MUSIC (ORIGINAL SONG)

NOMINEES

MIGHTY RIVER

from Mudbound; Music and Lyric by Mary J. Blige, Raphael Saadiq and Taura Stinson

MYSTERY OF LOVE

from Call Me by Your Name; Music and Lyric by Sufjan Stevens

REMEMBER ME

from Coco; Music and Lyric by Kristen Anderson-Lopez and Robert Lopez

STAND UP FOR SOMETHING

from Marshall; Music by Diane Warren; Lyric by Lonnie R. Lynn and Diane Warren

THIS IS ME

from The Greatest Showman; Music and Lyric by Benj Pasek and Justin Paul

 

BEST PICTURE

NOMINEES

CALL ME BY YOUR NAME

Peter Spears, Luca Guadagnino, Emilie Georges and Marco Morabito, Producers

DARKEST HOUR

Tim Bevan, Eric Fellner, Lisa Bruce, Anthony McCarten and Douglas Urbanski, Producers

DUNKIRK

Emma Thomas and Christopher Nolan, Producers

GET OUT

Sean McKittrick, Jason Blum, Edward H. Hamm Jr. and Jordan Peele, Producers

LADY BIRD

Scott Rudin, Eli Bush and Evelyn O’Neill, Producers

PHANTOM THREAD

JoAnne Sellar, Paul Thomas Anderson, Megan Ellison and Daniel Lupi, Producers

THE POST

Amy Pascal, Steven Spielberg and Kristie Macosko Krieger, Producers

THE SHAPE OF WATER

Guillermo del Toro and J. Miles Dale, Producers

THREE BILLBOARDS OUTSIDE EBBING, MISSOURI

Graham Broadbent, Pete Czernin and Martin McDonagh, Producers

 

PRODUCTION DESIGN

NOMINEES

BEAUTY AND THE BEAST

Production Design: Sarah Greenwood; Set Decoration: Katie Spencer

BLADE RUNNER 2049

Production Design: Dennis Gassner; Set Decoration: Alessandra Querzola

DARKEST HOUR

Production Design: Sarah Greenwood; Set Decoration: Katie Spencer

DUNKIRK

Production Design: Nathan Crowley; Set Decoration: Gary Fettis

THE SHAPE OF WATER

Production Design: Paul Denham Austerberry; Set Decoration: Shane Vieau and Jeffrey A. Melvin

 

SHORT FILM (ANIMATED)

NOMINEES

DEAR BASKETBALL

Glen Keane and Kobe Bryant

GARDEN PARTY

Victor Caire and Gabriel Grapperon

LOU

Dave Mullins and Dana Murray

NEGATIVE SPACE

Max Porter and Ru Kuwahata

REVOLTING RHYMES

Jakob Schuh and Jan Lachauer

 

SHORT FILM (LIVE ACTION)

NOMINEES

DEKALB ELEMENTARY

Reed Van Dyk

THE ELEVEN O’CLOCK

Derin Seale and Josh Lawson

MY NEPHEW EMMETT

Kevin Wilson, Jr.

THE SILENT CHILD

Chris Overton and Rachel Shenton

WATU WOTE/ALL OF US

Katja Benrath and Tobias Rosen

 

SOUND EDITING

NOMINEES

BABY DRIVER

Julian Slater

BLADE RUNNER 2049

Mark Mangini and Theo Green

DUNKIRK

Richard King and Alex Gibson

THE SHAPE OF WATER

Nathan Robitaille and Nelson Ferreira

STAR WARS: THE LAST JEDI

Matthew Wood and Ren Klyce

 

SOUND MIXING

NOMINEES

BABY DRIVER

Julian Slater, Tim Cavagin and Mary H. Ellis

BLADE RUNNER 2049

Ron Bartlett, Doug Hemphill and Mac Ruth

DUNKIRK

Gregg Landaker, Gary A. Rizzo and Mark Weingarten

THE SHAPE OF WATER

Christian Cooke, Brad Zoern and Glen Gauthier

STAR WARS: THE LAST JEDI

David Parker, Michael Semanick, Ren Klyce and Stuart Wilson

 

VISUAL EFFECTS

NOMINEES

BLADE RUNNER 2049

John Nelson, Gerd Nefzer, Paul Lambert and Richard R. Hoover

GUARDIANS OF THE GALAXY VOL. 2

Christopher Townsend, Guy Williams, Jonathan Fawkner and Dan Sudick

KONG: SKULL ISLAND

Stephen Rosenbaum, Jeff White, Scott Benza and Mike Meinardus

STAR WARS: THE LAST JEDI

Ben Morris, Mike Mulholland, Neal Scanlan and Chris Corbould

WAR FOR THE PLANET OF THE APES

Joe Letteri, Daniel Barrett, Dan Lemmon and Joel Whist

 

WRITING (ADAPTED SCREENPLAY)

NOMINEES

CALL ME BY YOUR NAME

Screenplay by James Ivory

THE DISASTER ARTIST

Screenplay by Scott Neustadter & Michael H. Weber

LOGAN

Screenplay by Scott Frank & James Mangold and Michael Green; Story by James Mangold

MOLLY’S GAME

Written for the screen by Aaron Sorkin

MUDBOUND

Screenplay by Virgil Williams and Dee Rees

 

WRITING (ORIGINAL SCREENPLAY)

NOMINEES

THE BIG SICK

Written by Emily V. Gordon & Kumail Nanjiani

GET OUT

Written by Jordan Peele

LADY BIRD

Written by Greta Gerwig

THE SHAPE OF WATER

Screenplay by Guillermo del Toro & Vanessa Taylor; Story by Guillermo del Toro

THREE BILLBOARDS OUTSIDE EBBING, MISSOURI

Written by Martin McDonagh

 
…

From: MeNeedIt

American actor David Ogden Stiers, known as the arrogant but brilliant surgeon Charles Emerson Winchester on the television series MASH,  has died of bladder cancer at 75.

MASH was the story of an army hospital near the front lines during the Korean War.

The series was a well-established hit when Stiers, a classically-trained stage and film veteran, joined the cast in 1977 to play Winchester, a character created to replace the clownish Major Frank Burns.

While Burns was a mediocre doctor and the butt of jokes, Stiers’ Winchester was a superb surgeon and made sure everyone from his patients to the nurses and his fellow doctors know it.

Winchester was smug, vain, and ultra-conservative but often showed a generous and deeply caring side. He sometimes proved to be as much a practical joker as his fun-loving colleagues.

Stiers was twice nominated for outstanding supporting actor Emmys for MASH and continued to act in films and on television when the series closed in 1983 – most notably with director Woody Allen and in a series of Perry Mason  TV films.
…

From: MeNeedIt

The Oscars will hope to live down their most infamous blunder at the 90th Academy Awards, which begin at 8 p.m. EST and will be broadcast live by ABC from the Dolby Theatre. But more than redemption is on the line Sunday for last year’s embarrassing best-picture flub — the fiasco known as Envelopegate.

The ceremony, to be hosted again by Jimmy Kimmel, will be the crescendo of one of Hollywood’s most tumultuous awards seasons ever — one that saw cascading allegations of sexual harassment topple movie moguls, upended Oscar campaigns and new movements launched to improve gender equality throughout the industry.

No Golden Globes-style fashion protest is planned by organizers of Time’s Up, the initiative begun by several hundred prominent women in entertainment to combat sexual harassment. Their goals go beyond red carpets, organizers said in the lead-up to the Oscars.

But the #MeToo movement is sure to have a prominent place in the ceremony. Greta Gerwig (“Lady Bird”) is just the fifth woman nominated for best director. Rachel Morrison “Mudbound” is the first woman nominated for best cinematography. Ashley Judd, the first big-name actress to go on the record with allegations of sexual misconduct against Harvey Weinstein, is among the scheduled presenters.

Before he was tossed out of the film academy after a storm of sexual harassment and sexual abuse allegations, Weinstein was for the last two decades the grand poobah of the Oscars. By one study’s findings, Weinstein was thanked more often than God in acceptance speeches.

As if his presence Sunday wasn’t already felt, a golden, life-sized statue of Weinstein seated on a couch with Oscar in hand was erected ahead of Sunday’s show just down Hollywood Boulevard.

Just as Seth Meyers did at the Globes, Kimmel will have a particularly steep challenge balancing a night of celebration for a Hollywood still reeling with shame and regret over “open secret” behavior that for years went unpunished in a largely male-dominated industry. In December, the film academy unveiled its first code of conduct.

It’s been an unusually lengthy — and often unpredictable — awards season, already an increasingly protracted horse race begun as most of the contenders bowed at film festivals last September. The Academy Awards, which will also be available for streaming on abc.com, are coming a week later this year because of the Olympics.

While the night’s acting categories are widely expected to go to Frances McDormand (“Three Billboards Outside Ebbing, Missouri”), Gary Oldman (“Darkest Hour”), Allison Janney (“I, Tonya”) and Sam Rockwell (“Three Billboards”), the lengthy season hasn’t produced a clear best-picture favorite.

Guillermo del Toro’s monster fable “The Shape of Water” comes in with leading 13 nominations, but many peg Martin McDonagh’s darkly comic revenge drama “Three Billboards” as the front-runner despite the film’s divisiveness among critics. And still, many aren’t counting out Jordan Peele’s horror sensation “Get Out” or Christopher Nolan’s World War II epic “Dunkirk,” which is expected to dominate the technical categories.

The field is made up largely of modest independent film successes except for the box-office phenomenon “Get Out” ($255 million worldwide after opening on Oscar weekend 2017) and “Dunkirk” ($255 million).

Twenty years ago, a “Titanic” sweep won record ratings for the Oscar broadcast. But ratings have recently been declining. Last year’s show drew 32.9 million viewers for ABC, a four percent drop from the prior year. Even more worrisome was a slide in the key demographic of adults aged 18-49, whose viewership was down 14 percent from 2016.

Movie attendance also hit a 24-year low in 2017 despite the firepower of “Star Wars: The Last Jedi,” ″Beauty and the Beast” and “Guardians of the Galaxy, Vol. 2.” An especially dismal summer movie season was 92 million admissions shy of summer 2016, according to the National Alliance of Theater Owners.

But this year is already off to a strong start, thanks largely to Ryan Coogler’s “Black Panther,” which many analysts believe will play a prominent role at next year’s Oscars. In three weeks, it has already grossed about $500 million domestically. The film’s star, Chadwick Boseman, will be a presenter Sunday.

This year, the academy has prohibited the PwC accountants who handle the envelopes from using cellphones or social media during the show. Neither of the PwC representatives involved in the mishap last year, Brian Cullinan or Martha Ruiz, will return to the show.

However, multiple reports say that Warren Beatty and Faye Dunaway will be returning to again present best picture, a year after they announced “La La Land” as the winner instead of “Moonlight,” because Cullinan handed them the wrong envelope. The “Bonnie and Clyde” duo will, 12 months later, get “take two.”

 
…

From: MeNeedIt

Washington is bracing for the start of a possible trade war between the United States and its closest allies and biggest commercial partners and a radical departure from America’s trading posture of the last seven decades. VOA’s Michael Bowman reports, the Trump administration is not backing down from last week’s announcement of looming tariffs on foreign-made steel and aluminum, with further details expected in coming days
…

From: MeNeedIt

Social media users like to have friends and followers on various platforms. But how many accounts are real and how many are generated by computers? Two university students in California say they have a way of detecting if you’re communicating with a human or a “bot”. Michelle Quinn reports.
…

From: MeNeedIt

A graphic medicine exhibit has opened at the U.S. National Library of Medicine at the National Institutes of Health, showcasing comics that show the medical journeys experienced by patients and caregivers. Organizers hope this ‘new language’ will give clinicians and policy makers a more personalized way of understanding the issues faced by them both. From Washington, VOA’s Jill Craig has more.
…

From: MeNeedIt

More people in Columbus, Ohio, are now surviving when their hearts suddenly develop an abnormal beat and stop beating altogether. VOA’s Carol Pearson reports their survival is due to a new procedure developed after the hospital partnered with a local fire department.
…

From: MeNeedIt

President Donald Trump threatened on Saturday to impose a tax on European cars if the European Union chooses to retaliate against his plans to place tariffs on imported steel and aluminum.

In a tweet Saturday morning, Trump said the U.S. had an “$800 Billion Dollar Yearly” trade imbalance because of “very stupid” trade deals and policies. He warned that if the EU increased “tariffs and barriers” against American-made products, “we will simply add a Tax on their Cars.”

Presently, the U.S. imposes a 2.5 percent tariff on European-built cars and Europe imposes a 10 percent tariff on U.S.-built cars.

Earlier this week, Trump announced that he plans sometime in the coming week to impose tariffs of 25 percent on steel and 10 percent on aluminum imports. He said the tariffs would be in effect for a long period of time.

Trump’s tweet Saturday appeared to be in response to European Commission President Jean-Claude Juncker’s warning that the EU could respond by taxing quintessentially American-made products, such as bourbon whiskey, blue jeans and Harley-Davidson motorcycles.

Juncker told German media Friday that he does not like the words “trade war.” “But I can’t see how this isn’t part of warlike behavior,” he said.

Trump had tweeted earlier in the day: “Trade wars are good, and easy to win.”

Trump’s announcement, made during a meeting with steel and aluminum industry executives at the White House, led a sharp drop in the U.S. markets and sparked concerns of a trade war Friday.

China, Canada respond

Later Friday, China warned about the “huge impact” on global trading if Trump proceeds with his tariff plans.

Wang Hejun, head of China’s commerce ministry’s trade remedy and investigation bureau, said in a statement the tariffs would “seriously damage multilateral trade mechanisms represented by the World Trade Organization and will surely have huge impact on normal international trade order.” 

The Chinese official added, “If the final measures of the United States hurt Chinese interests, China will work with other affected countries in taking measures to safeguard its own rights and interests.”

China ranks 11th among the countries that export steel to the U.S. 

Canada is the United States’ biggest foreign source of both materials.

Canadian Prime Minister Justin Trudeau said Friday that Trump’s tariff plans were “absolutely unacceptable.” He said he is prepared to “defend Canadian industry” and warned the tariffs would also hurt U.S. consumers and businesses by driving up prices.

The director of the World Trade Organization, Roberto Azevedo, responded coolly, saying, “A trade war is in no one’s interests.” 

Trump spent Friday defending his threat to impose the tariffs, saying potential trade conflicts can be beneficial to the United States.

“When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win,” Trump wrote in a post on the social media site Twitter. “Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore – we win big. It’s easy!” 

A Japanese government official told VOA that Tokyo “has explained several times to the U.S. government our concerns,” but declined to comment further on any ongoing discussions with Washington.

“While we are aware of the president’s statement, we understand that the official decision has not been made yet,” the Japanese official said. “If the U.S. is going to implement any measures, we expect the measures be WTO-rules consistent.” 

China on Friday expressed “grave concern” about the matter. 

Trump said Thursday the tariffs of 25 percent on steel and 10 percent on aluminum imports will be in effect for a long period of time. He said the measure will be signed “sometime next week.” 

In 2017, Canada, Brazil, South Korea and Mexico accounted for nearly half of all U.S. steel imports. That year, Chinese steel accounted for less than 2 percent of overall U.S. imports.
…

From: MeNeedIt

Hollywood crowns its best and its worst this weekend. On Saturday, the Golden Raspberry Awards (or Razzies) were “awarded” to the worst movies while another, more serious fete recognized achievement in independent film. On Sunday the 90th Annual Academy Awards – better known as the Oscars – will be hosted by Jimmy Kimmel.

“The Emoji Movie” took top honors with the Worst Picture prize at the Razzie awards on Saturday, a gag award given by a group of Hollywood industry insiders known as the Golden Raspberry Foundation. The first full-length animation film to win the Worst Picture award, “The Emoji Movie” also scored wins for worst screenplay, worst director, and worst screen combo. 

Watch the Golden Raspberry Awards:

Tom Cruise was selected as Worst Actor for his work in “The Mummy,” while Tyler Perry – a male actor whose most famous character is a woman named Madea – got Best Actress for “Boo 2! A Madea Halloween.” Hollywood long-timers Mel Gibson and Kim Basinger took the Razzies for supporting roles in “Daddy’s Home 2” and “Fifty Shades Darker.”

A new Razzie category debuted this year: The Razzie Nominee So Rotten You Loved It. The winner was “Baywatch,” a movie about Los Angeles County lifeguards. The winner is selected by the general public through an online poll.

The Golden Raspberry Foundation also posted a tongue-in-cheek “In Memoriam” video – a parody of the Academy Awards’ annual remembrance of those who died in the past year – that highlighted men in the entertainment industry accused of sexual harassment. While suggesting their careers have died because of the allegations, the video ends by saying “We Won’t Be Missing You.” 

Also Saturday, the independent film industry took its awards ceremony to the beach, in a free-wheeling afternoon party meant to contrast sharply with the pomp of the Oscars ceremony the following night. 

The Film Independent Spirit Awards gave top directing honors to comedian Jordan Peele for “Get Out,” a horror comedy exploring relations between blacks and whites in modern-day America.

Best International Film went to director Sebastian Lelio of Chile, for “A Fantastic Woman,” a murder mystery centered on a transgender woman. 

Greta Gerwig won Best Screenplay for the coming-of-age story “Lady Bird,” which features a mother and daughter at odds with each other. Gerwig also directed the film.

And the award for Best First Screenplay, a separate category, went to Pakistani-American comic Kumail Nanjiani for “The Big Sick,” a semi-autobiographical romance.

On Sunday, the red carpets will be out for Hollywood’s biggest night, the Academy Awards. Among the frontrunners for Best Picture are Spanish director Guillermo del Toro’s fantasy “The Shape of Water,” Christopher Nolan’s historical picture “Dunkirk,” and Martin McDonagh’s “Three Billboards Outside Ebbing, Missouri.” Peele’s “Get Out” and Gerwig’s “Lady Bird” are also among the contenders.
…

From: MeNeedIt

About half a million people are expected to line Sydney’s streets Saturday to celebrate the 40th anniversary of the Gay and Lesbian Mardi Gras, the first time the annual parade has taken place since Australia legalized same-sex marriage.

The event started in 1978 as a protest march for gay rights and the decriminalization of homosexuality but has since grown into a major tourist spectacle featuring leather, sequins, glitter, lasers and dance music. It is now Sydney’s biggest street party and a major focal point for Australia’s gay and lesbian community.

This year’s procession includes 200 floats and groups of street dancers and will be headed by Dykes on Bikes, a motorcycle club.

Pop superstar Cher will headline the parade’s official party.

Same-sex marriage legalized

Australians overwhelmingly endorsed legalizing same-sex marriage in a postal survey in a country where sodomy laws were still in place in some states until as recently as the 1990s.

This year’s Mardi Gras will honor the 78ers, a group of people involved in the original protest, which took place June 24, 1978, as a peaceful march for gay rights that sparked the annual parade.

That protest was marred by police brutality with 53 people arrested in subsequent scuffles. Police have since apologized for the events of 1978 and now march each year in the parade alongside other emergency services.

Changing attitudes

Bruce Pollack, a Mardi Gras volunteer since 1984, said the parade has played a major role in changing attitudes toward the LGBT community over the decades.

“I was involved in the gay and lesbian counseling service … you would always hear young gays, and older gays, and much older gays say ‘it’s OK to come out because I saw people like me in the parade enjoying themselves — and there were spectators,’” Pollack told Reuters. “It was Mardi Gras that made it OK to be gay and lesbian and bisexual and transgender.”
…

From: MeNeedIt

The tiny Marshall Islands is creating its own digital currency in order to raise some hard cash to pay bills and boost the economy.

The Pacific island nation said it became the first country in the world to recognize a cryptocurrency as its legal tender when it passed a law this week to create the digital “Sovereign,” or SOV. In the nation of 60,000, the cryptocurrency will have equal status with the U.S. dollar as a form of payment.

Venezuela last month became the first country to launch its own cryptocurrency when it launched the virtual Petro, backed by crude oil reserves. The Marshall Islands said the SOV will be different because it will be recognized in law as legal tender, effectively backed by the government.

​Israeli partners

The Marshall Islands is partnering with Israeli company Neema to launch the SOV. It plans to sell some of the currency to international investors and spend the proceeds.

The Marshall Islands says the SOV will require users to identify themselves, thus avoiding the anonymity that has kept bitcoin and other cryptocurrencies from gaining support from governments.

“This is a historic moment for our people, finally issuing and using our own currency, alongside the USD (U.S. dollar),” said President Hilda Heine in a statement. “It is another step of manifesting our national liberty.”

The Marshall Islands is closely aligned with the U.S. under a Compact of Free Association and uses the dollar as its currency. Under the compact, the U.S. provides the Marshall Islands with about $70 million each year in assistance. The U.S. runs a military base on Kwajalein Atoll.

Lawmakers passed the cryptocurrency measure Monday following five days of heated debate. It’s unclear when the nation will issue the currency.

Leaders hope the SOV will one day be used by residents for everything from paying taxes to buying groceries.

Initial offering: 24 million

The law states that the Marshall Islands will issue 24 million SOVs in what it calls an Initial Currency Offering. Half of those will go to the government and half to Neema.

The Marshall Islands intends to initially sell 6 million SOVs to international investors. It says it will use the money to help pay the budget, invest in projects to mitigate the effects of global warming, and support those people still affected by U.S. nuclear testing.

The country also intends to hand out 2.4 million SOVs to residents.

Neema Chief Executive Barak Ben-Ezer said the SOV marked a new era for cryptocurrency.

“SOV is about getting rid of the excuses” for not shifting to digital assets, he said in a statement. He said it solved a huge problem with cryptocurrencies, which haven’t previously been recognized as “real” money by banks, regulators and the U.S. Internal Revenue Service.

Some lawmakers expressed concern about the large amount of the new currency that would go to the Israeli company, while others argued the country had urgent needs and the cash would help.

Jehan Chu, the Hong Kong-based co-founder of blockchain platform Kenetic, said he thought it was an amazing move by the Marshall Islands and was the way of the future.

“Physical currency is going by the wayside as an antiquated, obsolete form of transacting,” he said.

But Chu added that he didn’t think the currency would hold much appeal for international investors or be particularly valuable outside the Marshall Islands.

And many people in the Marshall Islands and beyond remain skeptical of cryptocurrencies.

Bank of England Governor Mark Carney this week said a global speculative mania had encouraged a proliferation of the currencies, and that they needed to be held to the same standards as the rest of the financial system.

“The prices of many cryptocurrencies have exhibited the classic hallmarks of bubbles … reliant in part on finding the greater fool,” Carney said in a speech to the Scottish Economics conference in Edinburgh.
…

From: MeNeedIt

In agitating for a trade war, President Donald Trump may have forgotten William Tecumseh Sherman’s adage that “war is hell.”

The Civil War general’s observation can be apt for trade wars, which may create conditions for a shooting war.

A look at Trump’s spoiling-for-a-fight tweet Friday:

TRUMP: “When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!”

THE FACTS: History suggests that trade wars are not easy.

The president’s argument, in essence, is that high tariffs will force other countries to relent quickly on what he sees as unfair trading practices, and that will wipe out the trade gap and create factory jobs. That’s his motivation for announcing that the U.S. will impose tariffs of 25 percent on steel imports and 10 percent on aluminum imports.

The record shows that tariffs, while they may help certain domestic manufacturers, can come at a broad cost. They can raise prices for consumers and businesses because companies pass on at least some of the higher costs of imported materials to their customers. Winning and losing isn’t as simple a matter as tracking the trade gap.

The State Department’s office of the historian looked at tariffs passed in the 1920s and 1930s to protect farms and other industries that were losing their markets in Europe as the continent recovered from World War I. The U.S. duties hurt Europe and made it harder for those countries to repay their war debts, while exposing farmers and consumers in the U.S. to higher prices. European nations responded by raising their tariffs and the volume of world trade predictably slowed by 1934.

The State Department says the tariffs exacerbated the global effects of the Great Depression while doing nothing to foster political or economic cooperation among countries. This was a diplomatic way of saying that the economic struggles helped embolden extremist politics and geopolitical rivalries before World War II.

Nor have past protectionist measures saved the steel industry, as Trump says his tariffs would.

The United States first became a net importer of steel in 1959, when steelworkers staged a 116-day strike, according to research by Michael O. Moore, a George Washington University economist. After that, U.S. administrations imposed protectionist policies, only to see global competitors adapt and the U.S. share of global steel production decline.
…

From: MeNeedIt