Daily Digest

Daily Digest 3/1 - Four New Middle East Dangers, More Customers Leaving Big Banks, How Deep Are The ECB's Pockets?

Thursday, March 1, 2012, 11:43 AM
  • More Customers Leaving Big Banks
  • Four New Dangers In The Middle East
  • Note from Athens: Feeling on the Ground Has Palpably Changed
  • Tavakoli: The Great MF Global Comedy Cover Up
  • What Is Everyone Waiting For?
  • FDA issues new warning on Lipitor, Zocor, other statins
  • Europe Banks Hungry For Second Helpings
  • Banks borrow €530bn from ECB scheme
  • Is War Imminent? US and UK Step up Military Action in the Persian Gulf
  • How deep are the ECB’s pockets?
  • No Criminal Case, But MF Global May Possibly Face a Fine of Up To $140,000
  • Global Fuel Shortage Would Grow Without Iran’s Supply, U.S. Says
  • Nation's largest public Food Forest takes root on Beacon Hill

Follow our steps to prepare for a world after peak oil, such as how to store & filter water

Economy

More Customers Leaving Big Banks (June C.)

These smaller institutions were also able to attract many of the customers who left the big banks. Over the course of last year, 10.3% of customers who shopped for a new bank landed at these smaller institutions -- up from 8.1% in the prior year.

Four New Dangers In The Middle East (David B.)

I know. After six decades of on-again-off-again Middle East conflicts, it’s easy to become inured to the steady drone of alarming headlines … the hyperbole of so-called Middle East experts … and the never-ending sable-rattling of the protagonists.

Note from Athens: Feeling on the Ground Has Palpably Changed (June C.)

Many of the Greeks with whom I spoke also expressed a visceral bitterness towards the troika. This underlies the epic breakdown in trust between the troika and Greece, which has recently been reflected in the discourse between the two sides as they have negotiated a second bailout. Troika representatives have clearly noted the antagonism with which they are met in Athens, as they have quadrupled the number of bodyguards in their entourages over the past year.

Tavakoli: The Great MF Global Comedy Cover Up (June C.)

I wonder which mainstream news media program will finally interview someone informed and honest on the MF Global story, and bring this injustice to the awareness of the public. I have heard that they will attempt to drag this investigation out until after the national elections in November, but if it comes out before that it will be wrapped up in a "don't ask don't tell admit no guilt" settlement.

What Is Everyone Waiting For? (phil)

City Council President Pro-Tem Gary Brown told me in an interview today the city needs $60 million to make its monthly bills, and it doesn’t take a CPA to figure out Detroit’s living on borrowed time. But Brown says the city spends $360,000 a day more than it brings in which allows the debt to balloon out of control. So, not only is it on borrowed time, it’s living on borrowed money and the credit card will soon get maxed out. Could a payless pay day be on the horizon? Certainly!

FDA issues new warning on Lipitor, Zocor, other statins (VeganD)

Dr. Amy Egan, the FDA's deputy director for safety of metabolic and endocrinological products, said "these cognitive changes can be quite dramatic" and "sustained," but that they do disappear when statin therapy is stopped. She cautioned that the agency isn't able to identify a specific drug or age group of people who might be prone to such cases of memory loss and confusion, but that patients should notify their doctors if such symptoms occur.

Europe Banks Hungry For Second Helpings (ewilkerson)

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It has been likened to a sugar rush for markets, especially for government bonds issued by heavily indebted eurozone nations. But will the European Central Bank’s second offer of cheap three-year loans to banks on Wednesday inject new life into the rally?

Banks borrow €530bn from ECB scheme (ewilkerson)

The European Central Bank on Wednesday injected €529.5bn into the eurozone financial system as 800 European banks took advantage of the ECB’s cheap three-year loan programme. Consensus median forecast had predicted banks would tap about €500bn from the second phase of the ECB’s three-year, longer-term refinancing operation (LTRO), which offers lenders an interest rate of just 1 per cent.

Is War Imminent? US and UK Step up Military Action in the Persian Gulf (James S.)

David Sanger, the chief Washington correspondent for the New York Times, acknowledged that the US is manipulating the conflict in Syria in order to weaken Iran before the regime change. “The argument commonly heard inside and outside the White House these days is that if the Assad government cracks, Iran’s ability to funnel weapons to Hezbollah and Hamas will be badly damaged — and its influence will wither accordingly. Similarly, if Iran’s effort to walk up to the edge of a nuclear weapons capability can be set back with a few well-placed GBU-31 bunker-busters, the country’s hopes of challenging Israel and Saudi Arabia to be the region’s biggest power will be deferred.”

How deep are the ECB’s pockets? (ewilkerson)

The ECB’s exposure to peripheral sovereign debt and a host of other assets of dubious quality has sparked concerns about the central bank’s solvency.

No Criminal Case, But MF Global May Possibly Face a Fine of Up To $140,000 (June C.)

Now the elite New York Times chimes in with its own version of the mysteriously vaporizing, blameless money meme. Maybe someone should look in Judge Crater's pockets, or Jimmy Hoffa's wallet.

Et tu, Gray Lady?

Energy

Global Fuel Shortage Would Grow Without Iran’s Supply, U.S. Says (John M.)

The examination of oil and fuel supplies and prices with and without Iran was prepared to help guide President Barack Obama’s administration in determining the feasibility of imposing sanctions related to Iranian oil trades through its central bank. Yesterday’s report was the first assessment issued under a Dec. 31 law that requires the EIA to provide an update on oil market conditions every 60 days.

Environment

Nation's largest public Food Forest takes root on Beacon Hill (RW)

Further down the path an edible arboretum full of exotic looking persimmons, mulberries, Asian pears, and Chinese haws will surround a sheltered classroom for community workshops. Looking over the whole seven acres, you'll see playgrounds and kid space full of thornless mini edibles adjacent to community gardening plots, native plant areas, a big timber-frame gazebo and gathering space with people barbecuing, a recreational field, and food as far as you can see.

Article suggestions for the Daily Digest can be sent to dd@PeakProsperity.com. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

14 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Online)
Joined: Jul 30 2009
Posts: 2783
phecksel's picture
phecksel
Status: Silver Member (Offline)
Joined: May 24 2010
Posts: 159
Statins

Oh how I hate statins.

It is an evil evil substance with very little derived benefit.  After being prescribed Lipitor and doing some research on statins in general, I went back to my Md and told him NFW.  He suggested reading the actual studies instead of the internet.  I did and fired him.  I have some background in research (industrial), so have at least a passing knowledge in statistics.  What I found was absolutely appalling!  You've probably all heard about the 25% reduction in heart attacks with a 3% risk of side effects...  What you didn't hear was those two statistics used a DIFFERENT sample base.  But, it gets even better, if you take statins, and you have a heart attack, you are much greater risk of dying from that heart attack.

Mercola.com is a great resource as is http://www.spacedoc.com/lipitor_thief_of_memory.html

there may be a small percentage of poeple that need this poison, but don't fall into the lower the cholesterol the better trap either.

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Online)
Joined: Jul 30 2009
Posts: 2783
Inflation: Not as low as you think

"Forget the modest 3.1 percent rise in the Consumer Price Index, the government's widely used measure of inflation. Everyday prices are up some 8 percent over the past year, according to the American Institute for Economic Research.

The not-for-profit research group measures inflation without looking at the big, one-time purchases that can skew the numbers. That means they don't look at the price of houses, furniture, appliances, cars, or computers. Instead, AIER focuses on Americans' typical daily purchases, such as food, gasoline, child care, prescription drugs, phone and television service, and other household products. "
 

Israeli PM demands Obama commit to military action if Iran sanctions fail

Iran's nuclear sites are not impregnable, experts say

US weighs joint strike on Iran nuclear sites

Crude Oil - Electronic (NYMEX) Apr 2012
$108.68
 

Treasury Direct link

The Daily History of the Debt Results

Historical returns from 02/21/2012 through 02/29/2012

The data for the total public debt outstanding is published each business day. If there is no debt value for the date(s) you requested, the value for the preceding business day will be displayed.

( Debt Held by the Public vs. Intragovernmental Holdings )

 

Date Debt Held by the Public Intragovernmental Holdings Total Public Debt Outstanding
02/21/2012 10,656,186,702,155.54 4,763,613,520,169.61 15,419,800,222,325.15
02/22/2012 10,656,161,387,513.97 4,760,162,256,532.79 15,416,323,644,046.76
02/23/2012 10,675,481,199,498.82 4,760,213,356,534.47 15,435,694,556,033.29
02/24/2012 10,675,327,157,594.47 4,762,660,691,866.44 15,437,987,849,460.91
02/27/2012 10,674,959,196,269.01 4,763,558,866,421.36 15,438,518,062,690.37
02/28/2012 10,675,494,440,597.72 4,766,626,543,066.16 15,442,120,983,663.88
02/29/2012 10,722,996,298,868.22 4,765,894,997,379.80 15,488,891,296,248.02

Dagny's picture
Dagny
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Posts: 11
I wasn't aware of the

I wasn't aware of the dangers you mention, but I can attest to the fact that Lipitor can lower cholesterol to a danger point.  My doctor was thrilled when my overall cholesterol dropped to134.  I was terrified, and rightly so.  Within a mattter of months, I was admitted to a psychiatric hospital with "melancholic depression".

I told my doctor to take this drug and shove it.  She isn't happy with me, nor I with her.   Too bad, and good luck.  Pfizer is one of the sleaziest drug companies on the planet.

SagerXX's picture
SagerXX
Status: Diamond Member (Offline)
Joined: Feb 11 2009
Posts: 2120
Saudi oil pipeline on fire...WTI up to $109

http://www.zerohedge.com/news/saudi-oil-pipelines-destroyed-explosion-se...

If this isn't an isolated incident...uh...yikes?

RogerA's picture
RogerA
Status: Silver Member (Offline)
Joined: Jun 18 2009
Posts: 106
Spring cleaning.

It is not just customers leaving the big banks.
Close to 100 CEO`s, chiefs, executives and whatnot, resigned, quit, got arrested....  so far this year. I hardly believe this is normal.
It could be either for good or bad.

Some of them:

2/20/12 (SWITZERLAND) Credit Suisse Chief Joseph Tan resigns
2/09/12 (UKRAINE) National Bank of Ukraine deputy governor Volodymyr Krotiuk quits
2/13/12 (KUWAIT) Kuwait Central Bank CEO Sheikh Salem Abdulaziz Al Sabbah resigns
2/14/12 (NICARAQUA) Nicaraqua Central Bank President Antenor Rosales resigns
2/15/12 (KENYA) Govenor of Kenyan Central Bank Njuguna Ndung’u to resign
2/01/12 (SOUTH AFRICA) ABSA [Barclay's Bank] deputy CEO Louis von Zeuner resigns
2/17/12 (USA) Goldman Sachs CEO Lloyd Blankfein out as by summer
2/16/12 (AUSTRALIA) Royal Bank of Scotland Austrailan CEO Stephen Williams resigns
2/20/12 (RUSSIA) Head of Russian Bank Regulator Gennady Melikyan Steps Down
2/21/12 (ARGENTINA) Central Bank of Argentina (BCRA) Gen Mgr Benigno Velez
2/23/12 (SCOTLAND)
Royal Bank of Scotland Group director John McFarlane resigns
2/24/12 (HONG KONG) Citigroup Pvt Bank Global Real Estate Kwang Meng Quek Resigns
2/25/12 (AUSTRALIA AND NZ) Goldman Sachs Chairman Stephen Fitzgerald quits
2/27/12 (GERMANY) Deutsche Bank Americas chief Seth Waugh steps down
2/27/12 (BAHRAIN) Khaleeji Commercial Bank CEO Ebrahim Ebrahim quits
2/27/12 (FRANCE) Societe Generale’s Investment Banking Chief Michel Péretié Steps Down
2/27/12 (UK) Lloyds Banking Group Glen Moreno steps down
2/28/12 (HONG KONG) Hang Seng Bank CEO Margaret Leung Ko May-yee quits
2/28/12 (CHINA) Bank of China International ECM global head Marshall Nicholson quits
2/28/12 (SINGAPORE) DBS security head Jim Pasqurell quits, cites health reasons
2/28/12 (HONG KONG) Bank of America’s Asia-Pac. mrkts Brian Canniffe quits
2/28/12 (BELGIUM) KBC’s CEO Jan Vanhevel is to retire after a career spanning 41 years.
2/28/12 (AUSTRALIA) Bank manager Colin John Carleton jailed nine years for $3m theft
2/16/12 (UK) Royal Bank of Scotland Sr Equities Trader Jason Edinburgh Arrested

A longer list with links (scroll down a bit) http://americankabuki.blogspot.com/
A quote from the same page.
 

U.S. Treasury Secretary Timothy Geithner was detained for questioning by New York police on February 24th and was released after giving evidence about many high level financial criminals, according to New York police sources. “In most cases we have to slap people to get them to talk but in his case we had to slap him to shut him up,” one of the interrogators joked. Geithner has been released but is accompanied at all times by an armed deputy to make sure he does not leave the country.

And another one.

Canadians Challenge Central Bank In Court
 

Canadian constitutional lawyer, Rocco Galati, on behalf of Canadians William Krehm, and Ann Emmett, and COMER (Committee for Monetary and Economic Reform) on December 12th, 2011 filed an action in Federal Court, to restore the use of the Bank of Canada to its original purpose, by exercising its public statutory duty and responsibility. That purpose includes making interest free loans to municipal/provincial/federal governments for "human capital" expenditures (education, health, other social services) and /or infrastructure expenditures. 

shudock's picture
shudock
Status: Bronze Member (Offline)
Joined: Mar 14 2010
Posts: 37
Nutrition and disease

These are my nutrition heroes:

http://www.westonaprice.org/

I wouldn't take a statin if you paid me.

koyaanisqatsi's picture
koyaanisqatsi
Status: Member (Offline)
Joined: Mar 1 2009
Posts: 4
Lipitor

You would think that the way doctors prescribe the stuff, and are encouraged to, that it was utterly safe.  Nothing could be more wrong.  My wife ruined her knee joints by taking it only a few weeks; it took her over a year to get them back to normal after she gave it up, and they still bother her from time to time.  I also personally know 2 people who died as a direct result of taking it, one from liver failure and one of a degenerative muscle condition.

Truly, it's poison.  I wonder how long before this is publicly recognized.  I believe in the future it will be looked on the same as bloodletting and other assorted savagery performed in the name of medicine.

Rob111's picture
Rob111
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Joined: Feb 21 2009
Posts: 23
William Shatner interview and a Paradigm Shift on aging

If you're are interested in maintaining your health, I think you will find this fascinating:

StephenLark's picture
StephenLark
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Joined: Oct 27 2008
Posts: 44
Geithner detained story

There is no evidence of the Geithner detained story via Google News: http://www.google.com/search?hl=en&gl=au&tbm=nws&q=geithner+detained#q=g... The only hit for that Google News query (which is for the past week) is in relation to Guantánamo Bay detainees, not Turbo Timmy.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
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Posts: 2505
Thanks Rob111

I did find that interesting. Let us hope that there is substance in these claims.

The biotechnology firms Geron Corporation and TA Therapeutics of Hong Kong have been working on deriving a telomerase activator from it. The chemical constituent cycloastragenol (also called TAT2) is being studied to help combat HIV, as well as infections associated with chronic diseases or aging.[4] However, the National Institutes of Health states: "The evidence for using astragalus for any health condition is limited. High-quality clinical trials (studies in people) are generally lacking. There is some preliminary evidence to suggest that astragalus, either alone or in combination with other herbs, may have potential benefits for the immune system, heart, and liver, and as an adjunctive therapy for cancer".[5]

A study published in the Nov. 2008 Journal of Immunology, researchers shed light on the antiviral and antiaging benefits of Astragalus. In their paper, a team of researchers from the UCLA AIDS Institute described how their work with a new drug derived from astragalus root reduces the aging process of immune cells, and enhances how these cells respond to viral infections. The compound works by boosting production of telomerase, an enzyme that allows for the replacement of short bits of DNA, known as telomeres, that play a key role in cell replication, cancer and human aging.[6]

From Wiki

Rob111's picture
Rob111
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Joined: Feb 21 2009
Posts: 23
Substance to claims

Arthur,

I have researched the supplement quite a bit and have been following the research on telomeres since the 90's.  There are five or six doctors on the web who have information out there on this supplement and they are reporting very positive results.  Dr Ed Parks at Recharge Biomedical has quite a few educational podcasts on this supplement and Dr. Dave Woynarowski has some also.  As an anecdotal, I have been on the TA-65 for about nine weeks now and at 54 I am feeling better each day.  Check out the vid by Dr Woynarowski for comments related to the ties with cancer.  I think in a few years this supplement and other telomerase activators still in development are going to give people much longer and healthier lives.

VeganD's picture
VeganD
Status: Platinum Member (Offline)
Joined: Jul 18 2008
Posts: 636
  U.S. and Israel Plan

U.S. and Israel Plan Attacks on Iran

March 2nd, 2012

Via: Bloomberg:

Obama administration officials are escalating warnings that the U.S. could join Israel in attacking Iran if the Islamic republic doesn’t dispel concerns that its nuclear-research program is aimed at producing weapons.

Four days before Israeli Prime Minister Benjamin Netanyahu is scheduled to arrive in Washington, Air Force Chief of Staff General Norton Schwartz told reporters the Joint Chiefs of Staff have prepared military options to strike Iranian nuclear sites in the event of a conflict.

“What we can do, you wouldn’t want to be in the area,” Schwartz told reporters in Washington yesterday.

Pentagon officials said military options being prepared start with providing aerial refueling for Israeli planes and include attacking the pillars of the clerical regime, including the Islamic Revolutionary Guard Corps and its elite Qods Force, regular Iranian military bases and the Ministry of Intelligence and Security. The officials spoke on condition of anonymity because Pentagon plans are classified.

“There’s no group in America more determined to prevent Iran from achieving a nuclear weapon than the Joint Chiefs of Staff,” Joint Chiefs Chairman Army General Martin Dempsey told the House Budget Committee yesterday. “I can assure you of that.”

Separately, unnamed U.S. officials told the Washington Post that U.S. military planners are increasingly confident that sustained attacks with the Air Force’s 30,000-pound (13,608 kilograms) “bunker-buster” bombs could put Iran’s deeply buried uranium-enrichment plant at Fordo out of commission.

Posted in War | Top Of Page

h/t cryptogon.com, screen captured cut and paste as cryptogon's link isn't working....hope that is ok with copyright laws

http://www.bloomberg.com/news/2012-03-01/u-s-escalates-warnings-on-iran-...

this is the link

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