Daily Digest

Daily Digest 2/3 - In Gold We Trust, Efford To Rebrand Arab Spring Backfires In Iran, China's Tight Grip On Rare Earths

Friday, February 3, 2012, 10:45 AM
  • Fiat Currency Failure Means: ‘In Gold We Trust’
  • Senate Approves Ban on Insider Trading by Congress
  • Effort to Rebrand Arab Spring Backfires in Iran
  • S.E.C. Is Avoiding Tough Sanctions for Large Banks
  • An Abundant Supply of Cheap Oil is the Most Important Resource for Our Future
  • Nepal and Bangladesh to Establish Joint Venture 3,000 Megawatt Power Plant
  • Trading China’s Tight Grip On Rare Earths
  • Pet Rescuers Venture Into Japan's Exclusion Zone

Follow our steps to prepare for a world after peak oil, such as how to store & filter water

Economy

Fiat Currency Failure Means: ‘In Gold We Trust’ (David B.)

The study showed that 20% failed through hyperinflation, 21% were destroyed by war, 12% destroyed by independence, 24% were monetarily reformed, and 23% are still in circulation and approaching one of the other outcomes.

Senate Approves Ban on Insider Trading by Congress (jdargis)

The bill would prohibit members of Congress from trading stocks and other securities on the basis of confidential information they receive as lawmakers. It says explicitly that they are not exempt from the federal law and regulations that ban such insider trading.

Effort to Rebrand Arab Spring Backfires in Iran (jdargis)

That inconvenient truth soon marred the whole script. As the conference began, a young man in the audience held up a sign with the word “SYRIA?” written in English. Applause burst out in the crowd, followed by boos. Audience members began chanting the slogan of the Syrian protesters: “God, freedom and Syria!” But they were drowned out by others chanting pro-Assad slogans.

S.E.C. Is Avoiding Tough Sanctions for Large Banks (jdargis)

An analysis by The New York Times of S.E.C. investigations over the last decade found nearly 350 instances where the agency has given big Wall Street institutions and other financial companies a pass on those or other sanctions. Those instances also include waivers permitting firms to underwrite certain stock and bond sales and manage mutual fund portfolios.

Energy

An Abundant Supply of Cheap Oil is the Most Important Resource for Our Future (James S.)

The US Government is aware of this issue, and now issues data for Total Oil Supply. Total oil supply includes various other liquids that are somewhat like crude oil, including biofuels, natural gas liquids, and “refinery gain”. But even including the additional categories, growth in supply has been anaemic. Oil prices started rising as early as 2004 because supply (whether defined as crude oil or more broadly) was not rising fast enough to meet increased demand around the world.

Nepal and Bangladesh to Establish Joint Venture 3,000 Megawatt Power Plant (James S.)

Discussing the power project with reporters after the meeting, Muhith said that Nepal was willing to export power to Bangladesh, but for that to happen, Bangladesh would need to be an equity partner in the proposed joint-venture power plant in the Himalayan country, noting that while Nepal has huge resources for hydropower, its potential has remained untapped up to the present for lack of investment.

Environment

Trading China’s Tight Grip On Rare Earths (David B.)

China cites environmental reasons, which by all means should always be in the forefront for everyone. However, analysts point to comments made by China several years ago about using export restrictions to maintain price.

Pet Rescuers Venture Into Japan's Exclusion Zone (jdargis)

Nearly a year after the earthquake, tsunami, and nuclear disaster that struck Japan, a 20-km (12-mi) radius exclusion zone remains in place around the crippled Fukushima Daiichi nuclear power plant. Residents were evacuated quickly, leaving behind many things, including pets and livestock. Members of United Kennel Club Japan recently ventured into the zone to rescue abandoned dogs and cats that have been fending for themselves for months.

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."

8 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4240
rhare's picture
rhare
Status: Diamond Member (Offline)
Joined: Mar 30 2009
Posts: 1329
Was this article intended to be humor?

[quote=California Teachers' Pension Trims Investment Forecast to 7.5%]

“It’s better to err on the side of being conservative,” said Sharon Hendricks, a Los Angeles community-college instructor and board member. “I certainly do that with my personal finances.”

 If they only made 2.3% last year and 5.4% over the previous 10 years, exacly how is 7.5%/year conservative?  Hmm, perhaps this is an indicator as to why so many kids are doing poorly in math....

heffe's picture
heffe
Status: Bronze Member (Offline)
Joined: Dec 26 2009
Posts: 95
MIT researchers, grass clippings, inexpensive solar energy

http://www.zeitnews.org/energy/mit-researchers-find-a-way-to-make-solar-panels-from-grass-clippings.html

Solar panels from grass clippings, and inexpensive chemicals, potentially a panel to be painted on housing.

Im sure there are thousands of possibilities to be discovered.

Total energy useage of entire planet in one year = 15 teraWatts

Total energy hitting the planet in one minute = 2,000 teraWatts

The only reason free energy hasn't become a reality is because of artificial scarcity. Our monetary market system of resource management creates artificial scarcity out of necessity for profit sake. Truly we will one day be considered the most bizarre generations of humans, as we knowingly destroyed the planet for our religious belief in monetary economics. We had our rational to support, but were too afraid, too stubborn to look for alternatives.

dave s's picture
dave s
Status: Bronze Member (Offline)
Joined: Feb 20 2009
Posts: 56
heffe
heffe wrote:

http://www.zeitnews.org/energy/mit-researchers-find-a-way-to-make-solar-panels-from-grass-clippings.html

Solar panels from grass clippings, and inexpensive chemicals, potentially a panel to be painted on housing.

Im sure there are thousands of possibilities to be discovered.

Total energy useage of entire planet in one year = 15 teraWatts

Total energy hitting the planet in one minute = 2,000 teraWatts

The only reason free energy hasn't become a reality is because of artificial scarcity. Our monetary market system of resource management creates artificial scarcity out of necessity for profit sake. Truly we will one day be considered the most bizarre generations of humans, as we knowingly destroyed the planet for our religious belief in monetary economics. We had our rational to support, but were too afraid, too stubborn to look for alternatives.

 

Would that you were right about artificial scarcity of energy.  However, you continue to equate diffuse energy with concentrated energy, and intermittent energy with continuous energy.  And while you note the destruction of the planet, you fail to appreciate that a monetary market system (let's call that capitalism) has arguably accomplished that destruction as a result of its hatred of scarcity and, in fact, its insatiable demand for more and more inputs and outputs.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
The Ditching of the Dollar.(Now you see it, now you don't)

A few days ago, it was rumoured India and Iran agreed to trade in hard assets… India will give Iran gold. In exchange, Iran will give India oil.

From Money Morning.

Damnthematrix's picture
Damnthematrix
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 3998
Today's "Very, Very Suspicious" NFP Number

TrimTabs Explains Why Today's "Very, Very Suspicious" NFP Number Is Really Down 2.9 Million In Past 2 Months

 

http://www.zerohedge.com/news/trimtabs-explains-why-todays-very-very-sus...

We have examined the nuance of the euphoric jobs data this morning from every angle and by now there should be plenty of 'information' for investors to make their own minds up on its credibility. However, the avuncular CEO of TrimTabs, who despite channeling Lewis Black lately, likely knows this data a little better than the average Jim on the street having collected tax witholdings data for the past 14 years, is modestly apoplectic at the adjustments. In one of his more colorful episodes, and rightfully so, Charles Biderman notes that "Either there is something massively changed in the income tax collection world, or there is something very, very suspicious about today’s BLS hugely positive number," adding, "Actual jobs, not seasonally adjusted, are down 2.9 million over the past two months. It is only after seasonal adjustments – made at the sole discretion of the Bureau of Labor Statistics economists – that 2.9 million fewer jobs gets translated into 446,000 new seasonally adjusted jobs." A 3.3 million "adjustment" solely at the discretion of the BLS? And this from the agency that just admitted it was underestimating the so very critical labor participation rate over the past year? Finally, Biderman wonders whether the BLS is being pressured during an election year to paint an overly optimistic picture by President Obama’s administration in light of these 'real unadjusted job change' facts. Frankly, in light of recent discoveries about the other "impartial" organization, the CBO, we don't think there is any need to wonder at all.

SagerXX's picture
SagerXX
Status: Diamond Member (Offline)
Joined: Feb 11 2009
Posts: 2252
I haven't seen a sign like this yet...

...but I'm expecting to in the not-too-distant...

Truly a Sign of the Times... (cue Prince)...

Viva -- Sager

Arthur Robey wrote:

A few days ago, it was rumoured India and Iran agreed to trade in hard assets… India will give Iran gold. In exchange, Iran will give India oil.

From Money Morning.

heffe's picture
heffe
Status: Bronze Member (Offline)
Joined: Dec 26 2009
Posts: 95
Artificial scarcity, incentive's and potential
dave s wrote:

Would that you were right about artificial scarcity of energy.  However, you continue to equate diffuse energy with concentrated energy, and intermittent energy with continuous energy.  And while you note the destruction of the planet, you fail to appreciate that a monetary market system (let's call that capitalism) has arguably accomplished that destruction as a result of its hatred of scarcity and, in fact, its insatiable demand for more and more inputs and outputs.

Hi dave, haven't been at the cpu for a few days, but I still wanted to reply to your comment.

1) Concentrated energy as compared to diffuse energy doesn't mean abundance of energy cannot be attained through diffuse energy. Biomass can store energy in concentrated forms, relying on solar energy as its input. If there is more that 100 times more energy hitting our planet in one minute than we burn in a year, Im sure a wide variety of wind, solar, tidal, thermal decoupling systems, battery storage systems, and biomass can eliminate this scarcity. The main obstacle in the US has been gov't subsidies towards oil, in Germany however their subsidies towards solar compared to oil is opposite, and as a result, they expect to see 100% renewable energy extraction/production by 2020.

2) Saying that capitalism has a hatred for scarcity ignores the main incentive, and with proper research into game theory, psychology, economics, etc, it becomes obvious that preserving scarcity makes more sense when money and market structures are involved. Here are some examples
     - Nearly 20 million homes sit vacant in US, while only 4 million are homeless. We have an excess of goods, yet create scarcity to maintain value of those goods, and as a result, create the means for poverty, crime, and impovershment.
     - Contemporary monetary systems are created through debt exchange, and in doing so, maintain a scarcity of money supply in relation to existing debt. There is always more debt then available money supply, and this doesnt just happen with fiat currency, gold standards produce the same result.
     - Nearly 2/3's of all food grown for human consumption is thrown away due to spoilage. This spoilage occures most often from sitting on store shelves, especially produce. This sitting on store shelves occures from the need to sell the good, as the producer, distributor, consumer, and store it self have to maintain monetary flow to sustain themselves. This occurs all the while billions starve.

All I am saying, is that the current means of managing society, creating wealth of goods, is not the the epitomy of human potential. We can do better than this, the main reason we maintain contemporary systems is due to belief. Every society in history had their belief, that all had rational, reasoning, and the logic to support, but eventually were realized as backwards to reality. Examples? Flat Earth, Geocentric Universe, human sacrifice to please the gods, separate human races, segregation as beneficial, etc. I believe that capitalism will eventually be regarded in a similar manner; had its reasoning, but completely backwards to reality.

I could go on, lack of time denies so, I appreciate the input however.

Heffe

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments