Daily Digest 8/16 - Charting Gold, Who Is Behind The SuperPACs?
Who Is Behind The SuperPACs? (Jaime)
What makes SuperPACs super powerful?
Economic collapse is inevitable, here’s why… (Andriano C.)
Contrary to rhetoric coming out of Washington, no tax hike or budget cut will get us out of this mess. The kind of measures that would actually bring about meaningful change to curb the financial collapse are deemed too severe to be even considered.
Examine the evidence outlined below, connect the dots and think for yourself.
The NWS is following its federal counterpart the DHS in securing large quantities of ammo. Back in March,Homeland Security purchased 450 million rounds of .40-caliber hollow point bullets that are designed to expand upon entry and cause maximum organ damage, prompting questions as to why the DHS needed such a large amount of powerful bullets merely for training purposes.
Harrisburg Parking Authority's "credit quality faces considerable downside risk from myriad uncertainties surrounding the city's eventual exit from fiscal distress, including the possibility that the HPA's assets might be taken by a bankruptcy court to pay off a portion of the city's debts as part of a future bankruptcy process," according to Moody's.
Charting Gold (Taki T.)
The monetarist point to the growth in the money supply as a major factor contributing to the high gold prices. Since 2009, the Washington money printing Triumvirate (Fed, Treasury, Congress) have flooded the system with over $4 Trillion in new paper money. Although the Fed has not committed to another round of Quantitative Easing this year, it has continued to expand its balance sheet in subtle ways. For example, the Fed increased its liquidity swap lines with other central banks to $31.02 billion last week, compared with $27.23 billion the week prior. More importantly, the banks are spilling more money into the economy from their $1.7 Trillion ocean of excess reserves. Adding new money debases the currency in circulation, robbing purchasing power for anyone who buys with Federal Reserve Notes. Gold benefits from the weaker Dollar.
Much of Curiosity’s sophisticated equipment was developed by various National Labs. Scientists at the Los Alamos National Lab, for example, developed the ChemCam, a laser that will help the Curiosity determine the chemical composition of rocks. Oak Ridge National Lab “developed and fabricated the protective iridium alloy cladding that’s central to the generator that powers the rover,” according to a Lab report. And the Multi-Mission Radioisotope Thermoelectric Generator, essentially a nuclear battery that powers the rover and keeps it warm, was designed and developed by the Department of Energy (DOE) in partnership with private entities. Specifically, it was assembled and tested at Idaho National Lab and, according to DOE, the nuclear safety assessment was performed by Sandia National Labs. Thanks in part to the National Labs’ work, Curiosity will embark on a nearly two year-long effort to discover if Mars possesses, or once possessed, life.
The NCUA still cannot or will not tell its member institutions the true scale of the losses due to mismanagement at corporate credit unions. Suffice to say that the corporate credit unions bought some particularly nasty toxic waste from the subprime zombie swamp. Assessments needed to repay the Treasury could cripple the capital generation of credit unions for years. Allowing expanded member business loans, or “MBL,” lending is essentially a strategy to “double down” on the risk taken by credit unions, institutions which lack the people and the systems to effectively monitor small business credit. Keep in mind too that most banks are already fleeing small business lending, so the idea of credit unions jumping into the gap and actually making money is truly madness.
Emmott describes himself as a "rational pessimist" and while his delivery is tinged with ironic humour, it is mostly deadpan, rendering the sheer facts and figures both compelling and convincing. I was at one time skeptical about global warming and its consequences, but now there seems to me little room for doubt that humanity is in a severe predicament, both from the aspect of resource depletion and treating the planet like a giant landfill tip.
Water: An Endangered Global Resource (David B.)
Harder still to believe are reports water is going to get much dearer in our near term future – yet Peter Voser the chief executive of the world’s second-largest energy company, Royal Dutch Shell, warned us in June 2011, that global demand for fresh water may outstrip supply by as much as 40 per cent in 20 years if current fresh-water consumption trends continue.
Local food production provides this redundancy, and it’s catching on in a big way. Whether it’s front yard vegetable gardens, new innovations such as aquaponics systems, or rooftop gardens, the experimentation that is happening to build more redundant and resilient food systems is encouraging.
Brooklyn Grange is one of the innovators doing something about it and has developed a really cool rooftop farm in Queens.
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