Daily Digest

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Daily Digest 12/17 - Gamechanging Trends That Will Impact The Planet, Solar and Big Oil Join Forces in Middle East

Monday, December 17, 2012, 1:47 PM

Economy

The loonie’s dark secret: Canada’s dollar coin is a hidden tax (westcoastjan)

For years, Canadians have regarded the loonie the same way they look at universal healthcare or the metric system: A useful innovation that Americans are too stubborn to adopt. But as Democrats and Republicans alike push for a Yankee loonie, economists are sounding the alarm that legislators are doing it for all the wrong reasons: A U.S. dollar coin is more expensive, less convenient and, by the U.S. government’s own admission, is only useful as a clandestine way to pull in extra revenue.

Viewpoint: How hackers exploit 'the seven deadly sins' (westcoastjan)

We might be tempted to open it and find out, but in the online world that might just be a trap waiting for an innocent user to spring it. A colleague built a website that contained a button that said Do Not Press, and was astonished to find that the majority of people actually pressed it.

Be curious, but exercise a healthy degree of suspicion.

Wonga offers instant loan option on retailer websites (westcoastjan)

Speaking on Wonga's latest offering, debt advice charity StepChange told the BBC: "As with any form of credit, StepChange debt charity would urge people to carefully consider whether they absolutely need to use it.

"Crucially, consumers should familiarise themselves with exactly how much they may have to pay back in charges, interest and fees, and whether they can afford to make those repayments."

Trail, B.C. Smelter Decision May Have Ripple Effect Beyond Teck (westcoastjan)

Suko noted that the company admitted treating the international waterway as a free waste disposal service. Specifically, the judge in Yakima, Wash., found that from 1930 to 1995, Teck intentionally discharged at least 9.97 million tons of slag that included heavy metals such as lead, mercury, zinc and arsenic.

The judge also found that Teck knew the hazardous waste disposed of in the Columbia River was likely to cause harm.

Solar and Big Oil Join Forces in Middle East (James S.)

GlassPoint, though, is not the pioneer of this technology. ARCO came up with it in the early 1980s, but it wasn’t cost-effective. But since then, BrightSource Energy (BSE) has taken the technology to new heights and taps into aging wells for Chevron (NYSE:CVX) in the Coalinga oil field. BSE has spent $67.3 million on this project, which began in earnest last year.

Debasement is Still Inevitable: Another Year for the Real Cupronickel Nickel? (Thomas C.)

Hopefully the Mint's dawdling will give us another year or two to stack up our boxes of nickels. (Once a composition change takes place, we will have to laboriously sort nickels.) If you read the contractor's report, you'll see that one of the goals of the planned debasement is that is be "seamless", meaning: "Differences and abilities to recognize or process incumbent coins and coins produced from alternative material candidates cannot be distinguished through normal coin processing." That is bureaucratic doublespeak for "Let's make our new worthless tokens look like real coins, even to vending machines."

Connecticut school shooting: Adam Lanza's mother was preparing for disaster (ScubaRoo)

Nancy Lanza, whose gun collection was raided by her son Adam for Friday’s massacre at Sandy Hook school, was part of the “prepper” movement, which urges readiness for social chaos by hoarding supplies and training with weapons.

“She prepared for the worst,” her sister-in-law Marsha Lanza told reporters. “Last time we visited her in person, we talked about prepping – are you ready for what could happen down the line, when the economy collapses?”

Ronald Stoeferle On This Week’s Counterintuitive Gold Price Action (Taki T.)

As we could not explain this price action, we asked the question to Ronald Stoeferle, one of the specialists. He is the editor of the well-known and respected “In Gold We Trust” reports and was our guest recently when he provided an update on the negative real interest rates. What follows is the view of Ronald Stoeferle specifically on the counterintuitive price action on Wednesday December 12th, 2012.

Six gamechanging trends that will impact the planet for decades to come (Nervous Nelly)

The report focuses on six “gamechanging” trends and events that will shape the world in the coming years.

Some we were mostly aware of — like threats to global economies from developed countries’ deficits.

Robots ride the ocean blue (westcoastjan)

The robot combines an upper float the size of a surfboard with a lower instrument-packed pod and is one of many types of autonomous underwater vehicles (AUVs) oceanographers are using in increasing numbers.

"People are expensive," says Brian Claus from the autonomous oceans systems lab at Newfoundland's Memorial University. "AUV's maximise your time in the field."

Equatorial Guinea: Obiang's future capital, Oyala (westcoastjan)

The people of Equatorial Guinea ought to be among the world's wealthiest - but somehow the country's income from oil and timber doesn't reach them. Eight years after a failed coup, putting cash in people's pockets is not the president's priority.

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."

5 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 2709
saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 2709
Cyprus 'could default within days'

Cyprus 'could default within days'

jpitre's picture
jpitre
Status: Gold Member (Offline)
Joined: Mar 3 2009
Posts: 366
Gold - recommended reading

I recently read an article by John Mauldin (Mauldin Economics) that gives one of the better overviews of reasons to invest (or not) in gold. He takes a balanced view and backs up most of his conclusions with (IMHO) rational thought. Worth the read.

http://www.mauldineconomics.com/frontlinethoughts/central-bank-insurance1

Jim

cmartenson's picture
cmartenson
Status: Diamond Member (Offline)
Joined: Jun 7 2007
Posts: 3454
Yeah I liked that

...the main departures I have with the earstwhile professor's views are that they examine gold as if the inflation statistics were real (something Mauldin also takes slight exception with) and are from periods of time when monetary policy funneled almost entirely through the economy and banking system rather than the state.

Further, I have less faith than the good professor that the future will resemble the past, especially in terms of money as a relatively fixed variable compared to resources and the human demand for them.

Once upon a (much different) time, money was the controlling factor that allowed humans to distribute resources that came out of the ground at a limited rate and were then converted into goods and services, also at limited rates.

Now that equation is being flipped over, so I am not entirely clear on the utility of thousand-year views on the price of gold.  

jpitre's picture
jpitre
Status: Gold Member (Offline)
Joined: Mar 3 2009
Posts: 366
CM - Yeah I liked that

Chris - I completely agree with your comments. I do think that comments from Mauldin's post are a good basis for most of us to start with - and then modify our thoughts to fit the current circumstances using the Crash Course, your comments and others to help guide our future.

Unfortunately, little is certain - gold collapsed by 2/3s in the 16th & 17th centuries because of New World discoveries and plunder, so while a good insurance, even it is not certain. Community and preparedness plus ability to be productive ( wood lots & such) help to make a good balance.

Jim

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