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Daily Digest 8/19 - Metal Thieves Ravage School Buildlings, Does China Plan A Gold-Backed Renmibi?

Sunday, August 19, 2012, 8:08 AM

Economy

Metal thieves ravage more than a third of Camden school buildings (Thomas C.)

The unexpected expense "can take away from things that needed to be done during the school year," district business administrator Celeste Ricketts said. "You need to make smart decisions where you don't impact programs."

Is DOJ running out the clock on MF Global investigation? (Thomas C.)

“After following all the details in this case since day one, I am no longer surprised or shocked by the failure of regulators and the [Department of Justice] to hold anyone accountable for the multiple criminal acts that occurred at MF Global,” says Stanley Haar, a former MF Global customer. “It should be clear to any objective observer, of whatever political persuasion, that this case is all about cronyism and political corruption, not justice. If customer segregated custodial accounts can be looted with impunity, how can anyone have faith in the safety of our financial system?”

Pizza Franchise Creates ‘Not After Dark’ Delivery Rule In Detroit After Driver Shot (Thomas C.)

“They usually send somebody with a guy … who carries a gun,” she said. “Usually they have two go into Detroit after dark, if they have a delivery … One guy has a legal, he can carry a gun. That night, Timmy was the only one left, they had this one run to do, he said ‘yeah, I’ll do it.’ He’s a kid, he doesn’t think anything’s going to happen to him.”

Bill Black: Unless we Fix the Perverse Incentives in our Economy, We are Rolling the Dice Every Day (Jaime)

TBTF has a massive implicit government subsidy: The TBTF have an enormous implicit subsidy. We know that in a crisis the creditors of systemically dangerous institutions will be paid in full. That means that those banks can borrow at a lower rate than everyone else. That is an implicit subsidy, which is unfair to everyone else in the marketplace.

Does China Plan a Gold-backed Renminbi? (Taki T.)

According to the statistics of the World Gold Council, the Chinese central bank did not make any purchases in 2010 or 2011. Official reserves were last reported in June 2009 at 1,054 tonnes. The gold imports from Hong Kong amounted to more than 100 tonnes in April alone; in the year to date, 240 tonnes of gold have been imported. There is a clear upward trend in place: between May 2010 and April 2011 China imported 66 tonnes, and a year later imports were at 489 tonnes – an increase of 640%99. In total, imports in 2011 amounted to 427 tonnes (as compared to 118 tonnes in 2010). We expect not only Chinese private investors but also the PBoC to continue stepping up their accumulation of gold reserves massively. We believe that China holds definitely a far higher volume of gold reserves than the officially confirmed 1,054 tonnes.

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."

3 Comments

littlefeatfan's picture
littlefeatfan
Status: Silver Member (Offline)
Joined: Jul 20 2009
Posts: 141
More 3E related Links, Resources and Cartoons

http://www.3es.weebly.com/

KennethPollinger's picture
KennethPollinger
Status: Silver Member (Offline)
Joined: Sep 22 2010
Posts: 173
The Ultimate Pyramid Scheme

I just watched the rather long video from Dr. Kent Moors and found that they did a GREAT job

of presenting the Three Es (Energy, Environment, Economy).  Lots of facts and inhterpretations--well done.

HOWEVER, the sales pitches really were a turnoff and the constant hawking of FREE materials,

with the usual subscription pitch at the end strikes me as counterproductive.  Why not say UPFRONT

that there is a "FREE TRIAL" of materials at a reasonable price???  A few friends who watched complained

about the USUAL financial ploy used by financial newsletters.  People need to make money to produce

these videos and are entittled to make profits (we ALL need to survive!) .  BUT WHY NOT BE MORE

SENSITIVE AND INTELLIGENT about HOW to present these necessary factors???

GREAT JOB CHRIS: gets the Crash Course out there for more people.

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 2581

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