Daily Digest

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Daily Digest 2/17 - 8 Reasons America Should Embrace Canada's Crude, Meteor Detection Activists Vindicated

Sunday, February 17, 2013, 12:45 PM

Economy

DFO censoring federal scientists with research rules, critics say (westcoastjan)

Demands from DFO that foreign researchers sign restrictive agreements have upset Andreas Muenchow, a University of Delaware oceanographer who has collaborated with Canadian scientists on Arctic research.

In a blog posting Muenchow wrote: “I believe this is a disturbing political climate change … I feel that it threatens my academic freedom and potentially muzzles my ability to publish data.”

Gold Cycle Analysis On February 15th Gold Price Drop (Taki T.)

Well if there was any doubt left that [dollar] gold has decoupled from the Equity markets and risk in general, we got that confirmation on Friday. As the Equity markets move closer to a 4 Year Cycle Top, this is a positive development for the longer term gold outlook. Obviously that doesn’t help us any in the short term as a “seemingly” improving economy is considered a negative for gold.

Killing off cash: Could new tech mean the end of money? (westcoastjan)

The battery against cash is coming from three fronts - new technologies, scepticism about the stewardship of sovereign currencies and increased enthusiasm for alternative currencies, and greater scrutiny about cash's myriad costs.

In China, Families Bet It All on College for Their Children (jdargis)

Mr. Wu and Mrs. Cao, who grew up in tiny villages in western China and became migrants in search of better-paying work, have scrimped their entire lives. For nearly two decades, they have lived in a cramped and drafty 200-square-foot house with a thatch roof. They have never owned a car. They do not take vacations — they have never seen the ocean. They have skipped traditional New Year trips to their ancestral village for up to five straight years to save on bus fares and gifts, and for Mr. Wu to earn extra holiday pay in the mines. Despite their frugality, they have essentially no retirement savings.

As Families Change, Korea’s Elderly Are Turning to Suicide (jdargis)

Such social shifts are not uncommon in the industrialized world. But the sudden change has proved especially wrenching in South Korea, where parents view their sacrifices as the equivalent of a pension plan and where those who are suffering are falling victim to changes they themselves helped unleash as they rebuilt the economy from the devastation of the Korean War.

The 8 Reasons America Should Embrace Canada's Crude (westcoastjan)

Digging deeper, the Georgia emissions are far worse using the "wheel to wheel" measure that environmentalists like to apply to the oil sands. This is because the Scherer is fed with coal from distant Wyoming and every day between two and five trains, with 124 cars each, are unloaded in Georgia. And there are dozens more plants like this one across the U.S.

Vindication for Entrepreneurs Watching Sky: Yes, It Can Fall (jdargis)

Astronomers know of no asteroids or comets that pose a major threat to the planet. But NASA estimates that fewer than 10 percent of the big dangers have been discovered.

Gold & Silver

Click to read the Gold & Silver Digest: 2/15/13

Provided daily by the Peak Prosperity Gold & Silver Group

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

Don35's picture
Don35
Status: Bronze Member (Offline)
Joined: Jul 4 2012
Posts: 36
Killing off cash

http://www.bbc.co.uk/news/business-21427472

How likely is this to happen? Wouldn't governments benefit? It would create black markets and barter instantly, but electronic tracking of all other transactions would ensure governments get their taxes! It seems to be technologically possible for most people in first world countries. I have wondered about this killing PMs. Comments please.

jonesb.mta's picture
jonesb.mta
Status: Silver Member (Offline)
Joined: Jun 11 2008
Posts: 100
Killing Off Cash

The way I see it, fiat dollars are fiat dollars whether paper or electronic.

rjs's picture
rjs
Status: Gold Member (Offline)
Joined: Aug 8 2009
Posts: 372
Killing Off Cash

what's the problem? you should still be able to trade your gold for fiat dollars when you want to buy something..

LogansRun's picture
LogansRun
Status: Diamond Member (Offline)
Joined: Mar 18 2009
Posts: 1368
The Bitcoin Argument

Here's a good, short discussion on Bitcoin.

I agree with Chris Duane on this one.  The Gov't would LOVE to have people put their wealth into Bitcoin instead of PM's.

Bitcoin Discussion

Don35 wrote:

http://www.bbc.co.uk/news/business-21427472

How likely is this to happen? Wouldn't governments benefit? It would create black markets and barter instantly, but electronic tracking of all other transactions would ensure governments get their taxes! It seems to be technologically possible for most people in first world countries. I have wondered about this killing PMs. Comments please.

TechGuy's picture
TechGuy
Status: Silver Member (Offline)
Joined: Oct 13 2008
Posts: 155
what's the problem? Taxes

"what's the problem? you should still be able to trade your gold for fiat dollars"

There is a 30% Capital gains tax on PM sales. Its very likely as the value of the dollar declines, Washington will raise the Capital gains tax to 90%. After all Uncle sam is entitled to their "fair" cut of the profits!

Gov'ts hate cash transactions since there is no record of these transactions. Corporations also hate cash transactions too, because it limits their ability to track you, ie what you buy, when you buy (data mining). Cash provides freedom and privacy. Electronic transactions is Big Brother paradise.

Electronic transactions are a major source of fraud, as its much easier to steal money (ie hacking). The majority of email spam is directed at Phishing scams to provide hackers access to your electronic financial accounts. 

Give me one good reason why electronic transactions are better?

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