Daily Digest

Daily Digest 10/4 - When Money Dies, Fed Has Ammunition If U.S. Turns 'Horrific', The 10 Commandments Of A Post-Peak World

Tuesday, October 4, 2011, 9:48 AM
  • Poor Kids
  • China Fires Back At US Senate Which May Have Just Started The Sino-US Currency Wars
  • Qatari Wealth Fund Plans $10bn Gold Buying Spree
  • When Money Dies - a "Live from the Summit" Report
  • Fisher Says Fed Has Ammunition If U.S. Turns ‘Horrific’
  • Shortages Lead Doctors To Ration Critical Drugs
  • Gold Bugs Beware – The Bubble Will Burst
  • 4 Critical Events To Watch For In Q4
  • Operation Twist a Primer for QE3?
  • Daniel Yergin and Oil Supply: Should we Really not Worry About Peak Oil
  • The 10 Commandments - Guidelines to Surviving in a Post Peak Oil World

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Economy

Poor Kids (TG)

Three children tell what it's like to grow up poor in modern Britain. They're brave, they're funny but they're dealing with a system that doesn't seem to care.

China Fires Back At US Senate Which May Have Just Started The Sino-US Currency Wars (pinecarr)

A few hours ago, the maniac simians at the Senate finally did it and fired the first round in the great US-China currency war, after they took aim at one of China's core economic policies, voting to move forward with a bill designed to press Beijing to let its currency rise in value in the hope of creating U.S. jobs.

Qatari Wealth Fund Plans $10bn Gold Buying Spree (pinecarr)

The fund is seeking to invest in a range of natural resources, but gaining access to physical gold is its top strategic priority.

When Money Dies - a "Live from the Summit" Report (pinecarr)

Day Two: The Three E’s and Undervalued Stocks

Fisher Says Fed Has Ammunition If U.S. Turns ‘Horrific’ (pinecarr)

“We can expand the money supply to the Nth degree,” he said today in an interview with Bloomberg Radio’s “The Hays Advantage” with Kathleen Hays. Still, the Fed has to be “cautious” with the stimulus it’s already provided, and now “it’s up to the fiscal authorities” to do their job.

Shortages Lead Doctors To Ration Critical Drugs (VeganD)

The shortages involve a wide range of medications: cancer chemotherapy agents, anesthetics, antibiotics, electrolytes needed for nutrient solutions, and dozens more. One drug currently in short supply is used in critically ill patients to bring down soaring blood pressure.

Gold bugs beware – the bubble will burst (ScubaRoo)

The difference from the current gold bubble and the previous one is that investors are now armed with exchange traded funds (ETFs), derivatives that increase their ability to run from gold if necessary. Several hedge funds have become dominant holders of ETFs. Investors now are responding to uncertainty in the eurozone by selling gold and other commodities and buying less volatile US dollars. ETFs, the vehicles that helped push gold to stratospheric levels, are now pulling it down to earth.

4 Critical Events To Watch For In Q4 (ScubaRoo)

We were in a similar situation not to long ago heading into the fourth quarter of 2008. Following the collapse of Lehman Brothers on the weekend of September 13-14, a variety of indicators were signaling that stocks should be selling off. But they managed to hold their ground through the end of September, only declining by -3% on the S&P 500 Index during the period from September 15 to September 30 that included an even split of six up days and six down days. But then the calendar flipped and a new quarter started on October 1. And over the next eight trading days through October 10, stocks cratered by -28%.

Operation Twist a Primer for QE3? (Joe P.)

To understand where we may be heading, let’s look at where we have come from. Below is a graphical depiction of the Federal Reserve’s holdings of Treasury securities on its balance sheet; the different colors represent the evolving composition of the maturity of assets held by the Fed...

Daniel Yergin and Oil Supply: Should we Really not Worry About Peak Oil (Dean H.)

Should we believe this story? It sounds strangely dissonant, compared to what we have been hearing from other sources. In 2007, the National Petroleum Council (NPC) issued a report called, “Facing Hard Truths about Energy.” In fact, Daniel Yergin was one of the authors of the report.

The 10 Commandments - Guidelines to Surviving in a Post Peak Oil World (Dean H.)

The real problem is that our society is based around the car. This is particularly so in the U.S., where it is (or has become) necessary to travel over significantly greater distances than in the U.K., and in Europe generally. Fuel is cheap in the U.S., and if it were not the economy would grind to a halt.

Article suggestions for the Daily Digest can be sent to [email protected]. 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."

11 Comments

saxplayer00o1's picture
saxplayer00o1
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dcm's picture
dcm
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The 10 commandments - food production

Actually, non oil, organic, permaculture, perennial food production is MORE productive per square foot, uses less human energy input, and requires less maintenance. Nature's been perfecting her "system" and working on it long before man stood upright . Joel Salatin, one of Chris' guest speakers, proved this point (along with many other writers and growers)   

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Johnny Oxygen
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Re: Fisher Says Fed Has Ammunition If U.S. Turns ‘Horrific’

“We can expand the money supply to the Nth degree,” he said today in an interview with Bloomberg Radio’s “The Hays Advantage” with Kathleen Hays.

LoL

Yep and thats all they have.

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pinecarr
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jaw-dropping remark
Johnny O wrote:

“We can expand the money supply to the Nth degree,” he said today in an interview with Bloomberg Radio’s “The Hays Advantage” with Kathleen Hays.

LoL

Yep and thats all they have.

Johnny, I laughed out loud when I found this article, while at the same time my jaw dropped at actually seeing that line in print! 

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SailAway
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Re: When Money Dies - a "Live from the Summit"

I was attending this Casey Research / Sprout summit "When Money Dies" over the week-end and had the chance to meet Chris & Adam.

To add to what is said in this report: http://www.caseyresearch.com/editorial.php?page=articles/when-money-dies-live-summit-report&ppref=ZHB419ED1011A

Chris indeed made a brilliant presentation that was very well received. I witnessed the very positive feed-backs of the gentlemen at my table, I saw afterward people accessing CM.com on their laptop & tablets and many others carrying Chris' book.

Rick Rules one of the "Super Stars" at this conference praised many times Chris' presentation. Mr Rules obviously didn't know Chris before and was making reference to Chris as the "previous presenter". But he definitely learned his name (and I suspect he then met Chris as well) and on the next day he encouraged everyone to replay Chris Martenson's presentation and said something like "it was the best presentation he has seen in a very long time".

The conference was mainly around the monetary & financial crisis and I don't think there was a lot that we haven't discussed many times on this site. Surprisingly however since Casey & Sprout organizations are specialists in energy and resources, there was little mention of "Peak Oil" (beside Chris of course) and the few times it has been mentioned it was only seen as higher energy prices. Certainly very few connect the dots as Chris does.

Another speaker worth mentioning I think is Gordon Chang (http://www.gordonchang.com/information.htm) , author of "The Coming Collapse of China". He made a strong case about the not so bright future of China and if you are bullish about this country you probably want to read about what he has to say.

I suspect that for the ones not too aware of what's going on with geopolitics, the economy, energy & natural resources this conference was certainly depressing. Beside one speaker maybe, the presenters were predicting the collapse of the fiat currencies, one is predicting wars (Richard Maybury), the collapse of China and the scarcity of energy and natural resources (guess who?). Most of them recommend to hold gold & silver. There was also a "crash panel" of three gentlemen that shared their hyperinflation experiences in their respective countries, Yugoslavia, Argentina and Zimbabwe.

It was for me a great experience that helps me improving my understanding of our predicament...

SailAway.

 

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irongamer
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dcm wrote:Actually, non
dcm wrote:

Actually, non oil, organic, permaculture, perennial food production is MORE productive per square foot, uses less human energy input, and requires less maintenance. Nature's been perfecting her "system" and working on it long before man stood upright . Joel Salatin, one of Chris' guest speakers, proved this point (along with many other writers and growers)   

Yep.  Our current agricultural processes use around 15,000 sqft per person.  But it is not just about space, it is about "growing" topsoil and water efficency.  "United States croplands are losing topsoil about 18 times faster than the soil formation rate.. worldwide only about 42 to 84 years' worth of topsoil remains." (xi)  Even organic farming is likely to  deplete the soil 17 times faster than the soil formation rate.  (xii)

I find it interesting that we have really worked to miniturize our electronics and many mechanical systems, while leaving agriculture to bloat. "Miniaturization of agriculture can build soil up to 60 times faster than in nature." (xii)  Miniaturization could also:

  • Reduce water consumption per unit of production by 67% to 88%
  • Reduce in the amount of fertilizer required per unit of production by 50%
  • Reduce the amount of energy used per unit of production by 94% to 99%
  • Increase soil fertility by 100%, while productivity increases and resource use decreases
  • Increase caloric production per unit of area by 200% to 400%
  • Increase income per unit of area by 100%

(xii)

It is possible to lower the space required down to 4,000 sqft per person.(xiii)

Miniatruization is not a silver bullet, it needs to be coupled with other sustainable practices or it will cause more damage due to the high yields and would fall under monocropping if used alone.

This data was formed over a 30+ year study along with a number of other research projects. The information can be found in the book How to grow more vegetables.

Miniaturization of agriculture, self feeding aquapoinc systems, and permaculture are going to be key.  I have been testing my own aquapoincs system and trying out the Grow Biointensive method laid out in the book mentioned above.  I have had good results with both so far but it will take a lot of time to master either.

Travlin's picture
Travlin
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SailAway wrote: I was
SailAway wrote:

I was attending this Casey Research / Sprout summit "When Money Dies" over the week-end and had the chance to meet Chris & Adam.


SailAway

Thanks for your report and the links.

Travlin 

heffe's picture
heffe
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Posts: 95
irongamer wrote: It is
irongamer wrote:

It is possible to lower the space required down to 4,000 sqft per person.(xiii)

Miniatruization is not a silver bullet, it needs to be coupled with other sustainable practices or it will cause more damage due to the high yields and would fall under monocropping if used alone.

This data was formed over a 30+ year study along with a number of other research projects. The information can be found in the book How to grow more vegetables.

Miniaturization of agriculture, self feeding aquapoinc systems, and permaculture are going to be key.  I have been testing my own aquapoincs system and trying out the Grow Biointensive method laid out in the book mentioned above.  I have had good results with both so far but it will take a lot of time to master either.

 

Vertical aquaponic farming can reduce space useage tremendously, and if coupled with renewable sources from every locality, its possible to produce goods year round. What's needed is the proper funding, hopefully the wasted tax dollars of the gov't will someday be put into vertical aquaponic farming for every city.

Tilapia fish are an excellent high density species to grow in combination with aqua/hydroponic systems, as their feces provides nutrients for the crops, the root systems filter the water, and one pump can be used to rotate the water (w/ gravity based drip).  Use solar/wind/geothermal/biomass for energy, and an abundance in energy and food could be achieved no problem. 

There is no need for this upcoming scarcity that everyone here spends their time preparing for; its only a reflection of long outdated economic doctrine.  

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Doug
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CDs

I would very much like to hear the presentations at the conference, but the $300 price tag (even with discount) is too rich for my blood.  I wonder if there is any chance to get a further discount.

Doug

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Damnthematrix
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Daniel Yergin and Oil Supply

Re Daniel Yergin and Oil Supply: Should we Really not Worry About Peak Oil

Three Strikes and You Are Out?

Posted By Jeffrey Brown • on October 3, 2011

(Note: Commentaries do not necessarily represent the position of ASPO-USA.)

Daniel Yergin’s 2004 and 2005 Predictions for Oil Prices, Production and Exports – Three Strikes and You Are Out?

Daniel Yergin, whom the media have consistently designated as one of the world’s premier experts on energy matters–and who has a consistent track record ofwww.aspousa.org/index.php/2011/10/three-strikes/ predicting higher oil production levels–has been very visible of late, especially with a full page essay in the Wall Street Journal, focused on why concerns about Peak Oil are misplaced.

I thought that it would be useful to review how some of Mr. Yergin’s prior predictions regarding oil prices, production and exports in the 2004/2005 time frame have turned out, now that we have several years of post-2005 price, production and export data. Following is a brief summary.

Three Strikes

In late 2004, Daniel Yergin erroneously predicted that we would be back down to a long term price ceiling of about $38 in late 2005. Strike One.

In 2005, Mr. Yergin erroneously predicted that there would be a “Large, unprecedented buildup of oil supply in the next few years.” Strike Two.

In 2005, Mr. Yergin erroneously implied that rising demand from China and India could be easily accommodated, presumably without adversely affecting other importers, because of an “Unprecedented buildup of oil supply.” Strike Three.

So, three strikes and you are out? Surely multiple media outlets have taken note of how catastrophically wrong Mr. Yergin has been? If they have, I haven’t seen any evidence of it in the mainstream media.

Following is a more detailed analysis of Mr. Yergin’s 2004/2005 predictions, versus actual data.

http://www.aspousa.org/index.php/2011/10/three-strikes/

dcm's picture
dcm
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three strikes

damn good post damn

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