Daily Digest 6/1 - Inflation Vs. Deflation, The Austerity Agenda, Why Oil Prices Will Continue To Climb
- Robert Prechter And James Turk On Inflation Vs. Deflation
- Myths And Realities Of Returning To A Gold Standard
- John Titus' BAILOUT Connects the Dots: Fraud > Crisis >Fraud> Bailouts >Fraud> American Tragedy
- The Austerity Agenda
- The End Game
- Oil Forecast: Why Oil Prices Will Continue To Climb and End The Year Higher
- Solar Parasol Provides Shade and Clean Electricity
Robert Prechter of Elliott Wave International discusses inflation and deflation with GoldMoney's James Turk in this podcast. They also talk about GoldMoney, and the advantages of owning allocated gold stored at secure vaults.
The legal-tender laws are usually part of the story, but the story doesn’t hold up. Declaring irredeemable paper dollars to be legal tender merely defines what a creditor may be forced to accept in satisfaction of a debt that is denominated in dollars. Operating under that regime is entirely voluntary; if you don’t like it, you can avoid it by declining to accept anyone’s IOU or other promise denominated in dollars. Despite the legal-tender laws that define what is a (paper) dollar, you are free to buy and sell and enter into contracts without using dollars.
If you want to know what the rest of America thinks of bailing out privileged bankers who commit massive fraud, BAILOUT: The Dukes of Moral Hazard is a fine place to start. Americans are apparently pissed off about having their tax money used to save reckless and criminal financial sector executives from their own bad behavior.
The Austerity Agenda (VeganD)
The bad metaphor — which you’ve surely heard many times — equates the debt problems of a national economy with the debt problems of an individual family. A family that has run up too much debt, the story goes, must tighten its belt. So if Britain, as a whole, has run up too much debt — which it has, although it’s mostly private rather than public debt — shouldn’t it do the same? What’s wrong with this comparison?
The End Game (Phil H.)
For the first time since the 1930’s we are entering a recession. Before Industrial Production, Durable Goods Orders, Employment and Private Sector GDP have made back their previous highs.
The American Petroleum Institute (API), a trade organization of more than 500 oil and natural gas companies, didn’t issue price forecasts for crude in its most recent (May 18) report, but noted that increased domestic production, slightly higher crude oil stocks (374.8 million barrels) and lower imports in April should serve to keep prices stable to modestly higher going forward.
API also expressed optimism that rising crude production in North Dakota, which hit 551,000 barrels per day in March, and a possible reversal of President Obama’s rejection of the Keystone Pipeline project could keep price hikes in check for the remainder of the year.
The idea proved very popular at the Milan Design Week where it helped provide the public with a respite from the suns glare, whilst at the same time offering an outlet for people to charge their mobile phones and laptops.
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