Daily Digest

Daily Digest 7/22 - 'Serious Concern' On Rising S. China Sea Tensions, The Oil Crunch, Is Now The Time To Sell Your Gold?

Friday, July 22, 2011, 10:40 AM
  • ‘Serious Concern’ in Indonesia as South China Sea Tensions Rise
  • Koch Industries Helps Write State Laws
  • Silver Update 7/19/11 - Caught in the act
  • Is Now The Time To Sell Your Gold?
  • Gold Daily and Silver Weekly Charts - Strong Rebound in the Metals as La Douleur Exquise Swoons
  • Media Allowed to Film Bohai Bay Oil Leaks in Shandong ProvinceMedia Allowed to Film Bohai Bay Oil Leaks in Shandong Province
  • Oil companies under fire in China for offshore oil spill
  • Catalyst: Oil Crunch
  • The Peak Oil Crisis: Reality On Hold

Crash Course DVDThe Crash Course DVD: in-depth analysis on peak oil, debt, demographics, only $24.99 in our store (NTSC or PAL)

Economy

‘Serious Concern’ in Indonesia as South China Sea Tensions Rise (pinecarr)

There have been several recent incidents between claimants, particularly involving China, in the South China Sea, which is believed to be rich in oil and gas and is a crucial route for global shipping trade.

It includes Chinese forces allegedly opening fire on Filipino fishermen, shadowing an oil exploration vessel employed by a Philippine firm and putting up structures in areas claimed by the Philippines.

The tensions look set to overshadow five days of meetings in Bali culminating Saturday in the ASEAN Regional Forum security dialogue, which brings in China, Japan and the United States.

Koch Industries Helps Write State Laws (Johnny Oxygen)

Koch Industries, the company of financiers David and Charles Koch, has helped states to write energy legislation through a Washington-based group, the American Legislative Exchange Council, that it funds. Koch isn’t the only company: Exxon Mobil is a member of ALEC too. The group charges companies a membership fee as high as $25,000; then, it charges them several thousand dollars more to draft specific items of legislation alongside elected officials, who are then expected to guide the bill to law. An ALEC spokeswoman says the group promotes “good conservative policy.” ALEC-sponsored energy bills are before legislatures in Oregon, New Hampshire, and New Mexico. Koch and Exxon paid between $3,000 and $10,000 to have a hand in writing those bills.

Silver Update 7/19/11 - Caught in the act (TomA)

Once again, there was stunningly blatant paper manipulation in the silver market on Tuesday. 250 million paper ounces of silver – $10 Billion dollars worth – was sold into the market in one minute. As our friend Brother John disects the crime he notes, “The Comex is a completely and utterly corrupt market.”

http://www.youtube.com/watch?feature=player_embedded&v=Y--jCrDOSjk

Is Now The Time To Sell Your Gold? (Michael S.)

Gold has been treasured for thousands of years. Most of the time it's bought as jewellery but many people also invest in the bullion market because historically it has steadily increased in value, even when shares have slumped.

Now, the price is at an all time high so does that mean you should buy gold or sell it?

Gold Daily and Silver Weekly Charts - Strong Rebound in the Metals as La Douleur Exquise Swoons (pinecarr)

Very bullish reversal in the metals intraday, with closes in gold and silver above the psychological numbers of 1600 and 40 respectively.

If they can move higher and stick a close, and hold it through option expiration next week, you can say goodbye to these levels, the dollar, and quite a bit more.

Media Allowed to Film Bohai Bay Oil Leaks in Shandong ProvinceMedia Allowed to Film Bohai Bay Oil Leaks in Shandong Province (pinecarr)

Chinese media have been given brief access to check oil spills from two platforms in the Bohai Bay.

Energy

Oil companies under fire in China for offshore oil spill (pinecarr)

Eleven Chinese environmental organizations got together to write a letter to the financial supervisory authorities in New York and Hong Kong, where ConocoPhillips and CNOOC are listed, demanding an inquiry. Legal action is also pending.

ConocoPhillips denies a cover-up and says it reacted rapidly to both incidents, informing the authorities responsible in cooperation with its Chinese partners. It added that clean-up operations were proceeding.

Catalyst: Oil Crunch (Rami)

In this special Catalyst investigation, we travel from Paris, to London, to the outer space like world that is deep sea drilling...

The Peak Oil Crisis: Reality On Hold (Michael W.)

At last count there were at least a dozen mega dangers looming on the horizon all of which have the potential to change the nature of global civilization in profound ways. Yet the body politic seems to take little or no notice and concerns itself largely with issues that will soon be swept away by change. These dangers range from the depletion of our fossil fuel and mineral resources, to shrinking food and water supplies, to rising oceans, to political upheavals.

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."

10 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
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Johnny Oxygen's picture
Johnny Oxygen
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Posts: 1443
Re: Republican Kevin McCarthy Says No Debt Deal Likely Today

Its all a show.

When push comes to shove (and it always does) both sides will sign a toothless agreement then pat themselves on the back.

rjs's picture
rjs
Status: Gold Member (Offline)
Joined: Aug 8 2009
Posts: 445
40% Less Government Will Be Fun!

40% Less Government Will Be Fun! - So suppose the debt-ceiling deadline passes. Nothing to worry about, right? There's still enough money for Social Security, Medicare, interest payments, military payrolls, and veterans benefits, isn't there? That's more or less true, but unfortunately, that's all there's money for. Megan McArdle runs down a small sample of the things that will have to be zeroed out:

You just cut the IRS and all the accountants at Treasury, which means that the actual revenue you have to spend is $0.

The nation's nuclear arsenal is no longer being watched or maintained

The doors of federal prisons have been thrown open, because none of the guards will work without being paid, and the vendors will not deliver food, medical supplies, electricity, etc.

The border control stations are entirely unmanned, so anyone who can buy a plane ticket, or stroll across the Mexican border, is entering the country. All the illegal immigrants currently in detention are released, since we don't have the money to put them on a plane, and we cannot actually simply leave them in a cell without electricity, sanitation, or food to see what happens.

All of our troops stationed abroad quickly run out of electricity or fuel. Many of them are sitting in a desert with billions worth of equipment, and no way to get themselves or their equipment back to the US.

Our embassies are no longer operating, which will make things difficult for foreign travellers

No federal emergency assistance, or help fighting things like wildfires or floods. Sorry, tornado people! Sorry, wildfire victims! Try to live in the northeast next time!

Housing projects shut down, and Section 8 vouchers are not paid. Families hit the streets.

The money your local school district was expecting at the October 1 commencement of the 2012 fiscal year does not materialize, making it unclear who's going to be teaching your kids without a special property tax assessment.

The market for guaranteed student loans plunges into chaos. Hope your kid wasn't going to college this year!

The mortgage market evaporates. Hope you didn't need to buy or sell a house!

The FDIC and the PBGC suddenly don't have a government backstop for their funds, which has all sorts of interesting implications for your bank account.

The TSA shuts down. Yay! But don't worry about terrorist attacks, you TSA-lovers, because air traffic control shut down too. Hope you don't have a vacation planned in August, much less any work travel.

Unemployment money is no longer going to the states, which means that pretty soon, it won't be going to the unemployed people.

rhare's picture
rhare
Status: Diamond Member (Offline)
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Posts: 1325
Wow - Lot's of fear-mongering in that post - false options
rjs wrote:

Nothing to worry about, right? There's still enough money for Social Security, Medicare, interest payments, military payrolls, and veterans benefits, isn't there?

DELETED: Long list of fear-mongering....

It would be good, yes, there would be turmoil for a bit, but then we would finally be having the hard conversations.  It's this "government has to do it all" mentality we have from your list that is the problem.  We need to have the conversation about what is important, what isn't, and what we can afford.  We have to decide to tax instead of borrow to pay for it which will certainly bring it much more into the public consciousness over who is on dancing with the stars.

While I would prefer we not be forced to have these discussions through a crisis, it is painfully obvious we are not going to do so any other way, so we might as well start now instead of letting the problems grow larger, and resources grow shorter.

Poet's picture
Poet
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Posts: 1891
Problem With Daily Digest 07/22/2011 Page Display?

Hi.

Am I the only one who is having a problem with the page formatting here? Like stuff got cut off and rearranged.

Poet

dps's picture
dps
Status: Martenson Brigade Member (Offline)
Joined: Jun 27 2008
Posts: 442
ok here
Poet wrote:

Hi.

Am I the only one who is having a problem with the page formatting here? Like stuff got cut off and rearranged.

Poet

Poet,

Mine looks ok.  Hugs ... dons

LG's picture
LG
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Problem With Daily Digest 07/22/2011 Page Display?

Poet,

I am not receiving the complete Daily Digest.

LG

DRS78750's picture
DRS78750
Status: Member (Offline)
Joined: Aug 30 2009
Posts: 15
Poet wrote: Hi. Am I the
Poet wrote:

Hi.

Am I the only one who is having a problem with the page formatting here? Like stuff got cut off and rearranged.

Poet

 

I am using firefox and am having serious page formatting problems also. Some items are not even linked.

Dave

Nate's picture
Nate
Status: Platinum Member (Offline)
Joined: May 6 2009
Posts: 590
Rhare said "It would be

Rhare said

"It would be good, yes, there would be turmoil for a bit, but then we would finally be having the hard conversations.  It's this "government has to do it all" mentality we have from your list that is the problem.  We need to have the conversation about what is important, what isn't, and what we can afford.  We have to decide to tax instead of borrow to pay for it which will certainly bring it much more into the public consciousness over who is on dancing with the stars.

While I would prefer we not be forced to have these discussions through a crisis, it is painfully obvious we are not going to do so any other way, so we might as well start now instead of letting the problems grow larger, and resources grow shorter."

 

Spot on and well put.  Austerity now or austerity later.  We simply cannot provide a 1st world lifestyle to all US citizens forever.  My vote is to take the pain now (I'm 56) and provide a reasonable future for children. 

Let's stop having it's the R's fault or the D's fault conversation.  Citizens in 1st world nations live better, on average, that kings did 200 years ago.  We need adult conversation about needs, not wants.

Nate

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Eye candy

 

Gerard Celente predicts acts of false flag terror to herd the sheeple. Heaps of eye candy!

 

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