Daily Digest 2/17 - Proof Of Greater Depression, Current System Will Be "Totally Destroyed", Saudis To Re-Open Idled Field
- MF Global: Where's The Cash - Part II
- Currency Funds: Special Case International Bond Funds
- Proof Of U.S. Greater Depression
- Sprott's John Embry: "The Current Financial System Will Be Totally Destroyed"
- Just as Greece complies at last, Europe pulls the plug
- Which Trends Are Changing the World of Energy
- Biomass: Just Because it's Green Doesn't Mean it's Clean
- Saudis to Re-open Idled Oil Field
- 300k farmers hope for lawsuit against Monsanto
MF Global: Where's The Cash - Part II (June C.)
What people need to understand is that like the case of WorldCom, the MF Global bankruptcy illustrates the way in which the large Wall Street banks have used their Washington lobbyists to encroach upon the rights of investors. Even if it were proved that John Corzine and his colleagues committed criminal violations of the Uniform Securities Act and state law, there is little chance that the investors in MF Global will ever receive equity and justice. Again, read the WorldCom case
Currency Funds: Special Case International Bond Funds (Joe P., registration required)
Currency funds may be considered special cases of international bond funds, as many of them invest in international fixed income securities of short duration to gain currency exposure. Reducing the duration of international fixed income investments may significantly reduce a portfolio's risk profile. Therefore, such currency funds may be worth considering as a tool to actively address interest and credit risk in a diversified portfolio...
Proof Of U.S. Greater Depression (David B.)
Reflecting the broad-based collapse of the U.S. economy, these refineries are now exporting all categories of petroleum products: diesel, jet fuel, and even gasoline are now being exported in large quantities, month-after-month by U.S. refineries. Recall that it was only four, short years ago that many American politicians were alarmed by the crisis of the “lack of U.S. refining capacity”. No new refineries have been constructed in the U.S. in more than 30 years, and at that time those refineries were straining to meet the demand of solely the U.S. domestic market. With that domestic market collapsing, these refineries a
Sprott strategist John Embry has never been a fan of the existing financial system. Today, he makes that once again quite clear in this interview with Egon von Grayerz' Matterhorn Asset Management in which he says: "I think that the current financial system, as we know it, will be totally destroyed, probably sooner rather than later. The next system will require gold backing to have any legitimacy. This has happened many times in history."
The regime of drastic cuts has tipped the economy into a violent downward spiral. They thought that private industry would muddle through as the state went through the austerity mincer. What the EU-IMF "Troika" did not fully understand is how many firms were really part of the state in disguise.
Technology and global competition are profoundly impacting our energy future. The evidence is all around us in wind and solar energy advances, horizontal drilling and hydraulic fracturing creating a new North American oil and gas boom market, and the technologies driving smart grid, microgrids, and constant energy management. What are the forces of change taking place in energy today?
The study for the NWF, meanwhile, said that as the biomass energy sector expands, more fuel sources are likely to come from standing trees as opposed to residue from saw mills and the like. This in turn could lead to a higher production of atmospheric carbon as carbon sinks disappear. The NWF said that once forests start to regenerate, the carbon footprint would shift. The study found, however, that biomass energy would produce more harmful emissions for at least another 35 years when compared to fossil fuels, though the was only the case for the southeast region.
Saudis to Re-open Idled Oil Field (Jeff B.)
This report is both positive and negative. On the positive side, even 100,000 new barrels/day is a good thing. On the negative side, if Saudi Aramco needs to re-open a long idled field to maintain its current production and spare capacity quantities, the oil situation in Saudi Arabia could be more tenuous than the country would like to have the rest of us believe.
Farmers have been concerned that unless Monsanto is stopped, their reign over the world’s agriculture will surpass anything imaginable. They are seeking pre-emptive protection from those questionable lawsuits and next month Judge Buchwald will weigh in on if the matter should go to trial. Her honor recently listened to oral arguments on Monsanto’s Motion to Dismiss, which the corporation hopes to win to cease the charges being brought by a total of 83 plaintiffs representing now over 300,000 organic farm-affiliated businesses. The legal team for the small-time farmers also offered their arguments.
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