Daily Digest

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Daily Digest 12/14 - Sustainable Business Awards 2014, Who Is The Next Mandela?

Saturday, December 14, 2013, 4:46 PM

Economy

Lack of Demand, not Manipulation, Behind Gold Price Drop, Says CPM's Jeffrey Christian (Kevin J.)

What is holding down the gold price? Fear of the end of quantitative easing? Manipulation by a few big players? Central banks leasing inventories? CPM Group Managing Partner Jeffrey M. Christian says forget about all of that. The bottom line is that demand is down as investors big and small wait to see where the price will settle before they start buying again.

What’s Holding Down The Price Of Gold? (David B.)

The single most important factor has been a massive decline in the investment demand for gold. In 2013 investors have bought about 30 million ounces (30 Moz) gold on a net basis globally. That’s down from about 39 Moz in 2012 and 31 Moz in 2011, but it is still at a very high level compared to historic investment demand. The net purchases are down 24% because some investors are selling gold.

Unemployed told to leave Ireland in desperate move to slash welfare costs (westcoastjan)

An unemployed electrician was encouraged to move to Coventry, while another jobseeker was offered work as a bus driver in Malta.

Dublin defended the move insisting that the positions are voluntary and no one is being forced to leave the country.

Banker Jail Sentences: Another Lesson For The World From Iceland (pinecarr)


An Icelandic court has sentenced four former Kaupthing bankers to jail for market abuses related to a large stake taken in the bank by a Qatari sheikh just before it went under in late 2008.

Weeks before the country's top three banks collapsed under huge debts as the global credit crunch struck, Kaupthing announced that Sheikh Mohammed bin Khalifa bin Hamad Al Thani had bought 5 of its shares in a confidence-boosting move.

Sustainable Business Awards 2014 (pinecarr)

The Guardian Sustainable Business awards recognise businesses big and small that are doing well by doing good.

Silver – A Rigged Market Coming To An End (Taki T.)

The reason why silver continues to languish is purely a political one. Silver, along with gold, compete against fiat currencies. All [Western]currencies are issued by central banks. All central banks are owned by the elites, New World Order, [NWO], the moneychangers, call them whatever you will. These elites have a vested interest in preserving the Ponzi monopoly they have enjoyed ever since Mayer Amschel Rothschild discovered the power of interest collected on debt, over 200 years ago.

Resource Limits, Resilience and the Puppet Masters (Jim R.)

However his victory had cost him a lot. He lost some of his best generals, veteran soldiers and had suffered a serious wound himself. Although victorious, Pyrrhus has used up all his resources in his fight with the Romans. His army had withered in the process of defeating the Roman one.

Who Is The Next Mandela? (jdargis)

As Nelson Mandela is laid to rest, guest host Celeste Headlee asks if there's another activist who might galvanize the world in the same way. She speaks with Nicholas Kristof of The New York Times and Human Rights First's Brian Dooley.

Gold & Silver

Click to read the PM Daily Market Commentary: 12/12/13

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

Tall's picture
Tall
Status: Gold Member (Offline)
Joined: Feb 18 2010
Posts: 295
Quick Cash Can Turn Into a Lifetime of Debt

"...high-cost lenders in Missouri routinely ask courts to hand down judgments that allow loans to continue growing at the original interest rate. Initially, he refused, McGraugh said, because he feared that would doom debtors to years, if not a lifetime, of debt.

“It’s really an indentured servitude,” he said. “I just don’t see how these people can get out from underneath [these debts].”

http://www.propublica.org/article/when-lenders-sue-quick-cash-can-turn-into-a-lifetime-of-debt

KugsCheese's picture
KugsCheese
Status: Platinum Member (Offline)
Joined: Jan 2 2010
Posts: 729
Tall wrote: "...high-cost

Tall wrote:

"...high-cost lenders in Missouri routinely ask courts to hand down judgments that allow loans to continue growing at the original interest rate. Initially, he refused, McGraugh said, because he feared that would doom debtors to years, if not a lifetime, of debt.

“It’s really an indentured servitude,” he said. “I just don’t see how these people can get out from underneath [these debts].”

http://www.propublica.org/article/when-lenders-sue-quick-cash-can-turn-into-a-lifetime-of-debt

You can blame the public school system and modern culture in general for the lack of general financial knowledge which used to be taught first to youngsters.   But now that parents borrow and borrow that lesson is no longer taught.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 2584
You are too harsh Kugs.

There was a war between Capital and Labour. Capital won, wages were driven down, the velocity of money tanked and so wages were replaced with debt.

Ford was right. Someone had to buy his cars. But we are more clever than Ford- We don't increase wages so that people can buy products- we offer them debt.

I am a strong maritime union member and am opposed to any increase in wages precisely because the young folk are using any increase in wages to leverage up on that nice white picket fence. Given my understanding of the possible outcome of the bubble I worry what state the families will be in if the bubble pops.There are worse conditions than merely being broke.

Houses here are routinely over half a million. I panic if I am $1000 in debt. A half a Million? I can't even count that high.

There are many caveats- automation, 3d printing, robotics and some esoteric source of energy may make the very concept of money obsolete. This is the future that Asimov saw. But we will have to learn to shape Morphic fields before robots get true directed (Future pulled) intelligence. At the moment we are building them with Present only routines. Any memory they have is stored on hardware. This is very limiting.

A complete revolution is needed at the foundations of our philosophies.

Tall's picture
Tall
Status: Gold Member (Offline)
Joined: Feb 18 2010
Posts: 295
Paradigm shifts are difficult to see when one is within change

You can blame the public school system and modern culture in general for the lack of general financial knowledge which used to be taught first to youngsters.   But now that parents borrow and borrow that lesson is no longer taught.

People are just trying to hold on: to a job, to a basic standard of living, to the American dream. If a 'small' loan enables that goal, it may seem worth the risk. I agree that basic math skills are lacking among many, but we are undergoing a paradigm shift and it is difficult for many people to fully adjust. Indeed, the current societal cost structure makes it difficult. See: http://washington.cbslocal.com/2013/12/09/study-half-of-us-renters-pay-more-than-30-percent-of-income-for-housing/

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 2584
The Toffler Take.

Paradigm shifts are difficult to see when one is within change

It is for that reason I am going to buy Tofflers' latest book Revolutionary Wealth. Perhaps they can offer a different perspective.

*Sigh* Another book!

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