Daily Digest

Daily Digest - May 21

Friday, May 21, 2010, 9:47 AM
  • The Perfect Storm: Six Trends Converging on Collapse
  • Thursday Thump - Depression Sets In
  • New Jersey Income Tax Collections ‘Significantly’ Short
  • Lawmakers Agree To Extend Unemployment Benefits
  • Post Market 5/20
  • 'Perfect Storm' As Market Tremors Hit China, Europe And The U.S.
  • India is important to Goldman Sachs: Blankfein
  • Wall Street Threatens Washington as Reform Vote Approaches; Europe Acts Pre-emptively Against Fraud
  • Chinese Dumping Worthless Currency For Gold
  • How Would You Spend Your Daily 100 watts?
  • White House Covers Up Menacing Oil "Blob"
  • Paul Stamets On 6 Ways Mushrooms Can Save The World

Economy

The Perfect Storm: Six Trends Converging on Collapse (Jeff B.)

There is a popular saying that "the definition of insanity is doing the same thing over and over again, and expecting a different result." If we keep doing business in the same way as we have for the past century, each of these six trends will continue their steep rates of decline, collapsing the natural systems that form the foundation for our civilization and the lifeblood of the global economy. Perhaps the current Gulf oil spill is the wake up call that mankind needs to snap us out of our complacency, realize that we are soiling our nest and that continuation of "business as usual" will destroy the world as we know it?

Thursday Thump - Depression Sets In (Ilene)

I commented that the riots in Thailand may be the first of many around the world and that "Europe is in full panic mode and is hitting the 2.5% rule at 5am, about 11 am for them - very, very bearish if they can’t hold 2.5% in a day and not very good if they finish near that line anyway. CAC must hold 3,500, DAX 6,000 and FTSE 5,175" and we all sang "Smoke on the Water" as we sat back and watched the world burning on the news at 6am.

New Jersey Income Tax Collections ‘Significantly’ Short (Saxplayer00o1)

“There is a high probability” that gross income-tax collections for this year “will fall significantly below the levels assumed” in the governor’s budget, Rosen said in the e- mail, which is dated yesterday. Projections for next fiscal year “may have to be tempered as well,” it said.

New Jersey’s budget problems have raised the premium investors are demanding on New Jersey bonds. The so-called spread between yields on the state’s general-obligation debt and AAA rated debt widened to 45 basis points as of May 19 from 11 points a year earlier, according to data compiled by Bloomberg. A basis point is 0.01 percentage point.

Lawmakers Agree To Extend Unemployment Benefits (Saxplayer00o1)

Lawmakers had been negotiating a provision that would spare doctors from a scheduled 21 percent cut in Medicare payments. They agreed to delay the cuts until 2014, when they will have to address the issue again. The bill would also provide $24 billion to states to help cover Medicaid costs.

Unemployment benefits for many will start to run out June 2, unless Congress acts. The bill would extend unemployment benefits for up to 99 weeks in many states, at a cost of $47 billion.

Post Market 5/20 (pinecarr)

That fear, by the way is not just psychological. Many market callers have written about “animal spirits” and market psychology, but what they don’t write about is the very REAL underlying triggers. When the rule of law does not mesh with nature, eventually the system breaks down and animal spirits are required to enact meaningful change. For example, the math of debt backed money doesn’t work – that’s REAL and there are limits. It is destined to fail. Likewise, the planet only has so much easy to get oil and a population and energy demand that is growing exponentially. There’s a REAL limit in there – we are not taking care of it properly, so animal spirits are required to enact the change that’s necessary.

'Perfect Storm' As Market Tremors Hit China, Europe And The U.S. (pinecarr)

Capitulation fever has swept global markets on triple fears of faltering recovery in the US, Chinese credit curbs and Europe's intractable escalating debt crisis.

Blankfein: India Is Important To Goldman Sachs (pinecarr)

Recently in India Blankfein, 55, now chairman & CEO of Goldman Sachs, spoke exclusively to ET Now's R Sridharan on the SEC investigation into Goldman, the Euro crisis and the firm's India plans.

Wall Street Threatens Washington as Reform Vote Approaches; Europe Acts Pre-emptively Against Fraud (pinecarr)

It is naked short selling that lends itself so readily to abuse, particularly when there are not limits on position sizes and massed selling to drive down prices. The deregulatory movement, based on such lofty principles, has become nothing more than a means to a fraud, systematically knocking down all the regulatory safeguards that were put in place to protect the public during the Great Depression.

Chinese Dumping Worthless Currency For Gold (pinecarr)

Energy

How Would You Spend Your Daily 100 watts? (pinecarr)

The vast majority of us send money to the local utility for electricity every month. What if we invested that same sum in our own power generation?

Environment

White House Covers Up Menacing Oil "Blob" (lpowell23)

The Wayne Madsen Report (WMR) has learned from Federal Emergency Management Agency (FEMA) and U.S. Army Corps of Engineers sources that U.S. Navy submarines deployed to the Gulf of Mexico and Atlantic Ocean off the Florida coast have detected what amounts to a frozen oil blob from the oil geyser at the destroyed Deep Horizon off-shore oil rig south of Louisiana. The Navy submarines have trained video cameras on the moving blob, which remains frozen at depths of between 3,000 to 4,000 feet. Because the oil blob is heavier than water, it remains frozen at current depths.

Paul Stamets On 6 Ways Mushrooms Can Save The World (jdargis)

Entrepreneurial mycologist Paul Stamets seeks to rescue the study of mushrooms from forest gourmets and psychedelic warlords. The focus of Stamets' research is the Northwest's native fungal genome, mycelium, but along the way he has filed 22 patents for mushroom-related technologies, including pesticidal fungi that trick insects into eating them, and mushrooms that can break down the neurotoxins used in nerve gas.

Please send article submissions to: [email protected]

37 Comments

saxplayer00o1's picture
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Re: Daily Digest - May 21

"NEW YORK (MarketWatch) -- The Treasury Department said Thursday it plans to sell $113 billion in shorter-dated debt next week. "

"May 21 (Bloomberg) -- Sales of U.S. corporate bonds fell 67 percent and weekly issuance of high-yield company debt plunged to the lowest this year amid rising investor concern that a $1 trillion rescue package won't help indebted European nations avoid default."

"May 21 (Bloomberg) -- Britain posted its largest April budget deficit since monthly records began in 1993, highlighting the scale of the squeeze to come as Chancellor of the Exchequer George Osborne prepares to deliver an emergency budget."

"The crash in once high-flying Silicon Valley home prices came into sharper focus Thursday when county officials announced a new record in the number of properties that have dropped in assessed value.

All told, 118,440 houses, condominiums, duplexes and commercial properties will see their assessed values lowered by a total of nearly $21.4 billion. To put that in perspective, just 4,442 properties in 2006 saw assessed values drop, with losses totaling less than $3 billion.

Assessor Larry Stone called the numbers "historically off the charts." This year's figures top last year's record reductions in value by $2 billion and 20,000 properties.

Combined with a reduction in assessed values caused earlier this year by a decline in the state Consumer Price Index, Santa Clara County is on pace to record its first drop in total assessed value since 1978's Proposition 13 tax reform."

"Fewer tenants are being evicted from apartments across the Valley, but the decline is more about the dismal state of landlord finances than tenants paying their rent on time."

"The financial collapse last year of California-based Bethany Group, one of the Valley's largest apartment investors, had thousands of tenants in 13 giant complexes across the Valley worried about the stability of their living arrangements.

Before a management company was appointed by a Bankruptcy Court judge, water service was shut off at some locations, pools were green, landscaping was untrimmed and garbage bins overflowed. "

"William Bell and his family live in the 120-unit Dobson Springs Apartments in Mesa. "I've lived here for nine years; it used to be a nice complex," Bell said. "Then, we got letters about the bankruptcy." Now, the paint is peeling, blinds are broken and carpet was torn out but not replaced. "

"In order to work through its bankruptcy, the city of Prichard must make drastic cuts to its pension, according to a plan filed with U.S. Bankruptcy Court."

"Retirees have not been paid since September, and are owed more than a million dollars.

Under the bankruptcy plan, the city would initially pay them $190,000 proportionally, then each pensioner would receive a maximum of $200 per month for 10 years. Before the pension was depleted last year, pensioners received a total of about $150,000 per month.

"I'm sure there will be people who don't like this proposal," Williams said. "But the reality is the city only has so much money it can spend and still provide essential city services."

One retiree, Mary Berg, did the math. She figured out that her monthly check would be less than 14 percent of the roughly $1,400 she had received."

"A new survey of homeowners released today found that two out of five, or 41 percent, of homeowners would consider walking away from their mortgages if their homes were worth less than the amount they owed.

The survey, by search site Trulia.com and RealtyTrac, the online marketplace for foreclosed properties, demonstrates the growing popularity of “strategic defaults, which were the subject of a 60 minutes segment last Sunday . The Trulia-RealtyTrac survey produced the highest number yet of potential strategic defaulters.

The percentage of foreclosures that were perceived to be strategic was 31 percent in March 2010, compared to 22 percent in March 2009 according to new data released two weeks ago from the team of researchers at the University of Chicago and Northwestern University that first identified the scope of “strategic default” behavior last year.

Some 288,992 foreclosures per quarter are strategic defaults, according to the U of C and Northwestern researchers.

Translated into actual homeowners with a mortgage, the Trulia-RealtyTrac survey would produce about 21 million homeowners who would walk away from their homes if they were under water. More than 11.3 million homeowners — nearly one-fourth of all Americans with a mortgage — owe more on their loan than their home is now worth, according to a February report by FirstAmerican CoreLogic. More than 10 percent of people with mortgages owe 25 percent or more than their home is worth."

  • Other news, headlines and opinions:

Fed Assets Reach Record $2.35 Trillion on Mortgage Purchases

Credit Swap Investors Increase Bets on 'Double Dip' Recession

Worst Brazilian Bond Drought Since August Shows 'Market Closed'

Greek debt crisis faces double blow of brain drain and early retirement

Mayor Says Arson Spree in Flint, Mich., Meant to 'Terrorize' the City  ("Arson Epidemic Began After City Laid Off Firefighters")

Oakland Close To Laying Off Nearly 200 Police Officers Due To Budget Problems

In Detroit Schools, State Takeover Leads to Leadership Dispute (PBS Video)

Royal Mail's pension deficit hits £8bn (UK)

Phuket Villas Go Empty as Bangkok Riots Deter Visits

Whistling past the fiscal graveyard (Opinion...Pensions)

LBO Debt Tumbles Revealing ‘Leveraged Fantasy’: Credit Markets

Lenders Repurchase $3 Billion in Mortgages from GSEs in Q1

Bogdan's picture
Bogdan
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Gold?

Hi,

I'm having a hard time understanding why everybody wants to buy gold. It seems to me it is a pretty useless metal, you cannot eat gold, car engines don't burn gold, electric appliances don't run on gold, so why is everybody so fond of gold? Does it have any other uses besides making jewelry? And usually people only buy jewelry when they have extra money, not when they can hardly make ends meet...

What is the real difference between gold and worthless paper money? Sure, you cannot print gold, but you can mine it. And what if some scientist finds a cheap way to produce gold from other elements?

Thanks,

Bogdan.

Eye's picture
Eye
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Re: Daily Digest - May 21

Bogdan,

Gold has been valuable for thousands of years and a form of currency for many of those years.  Can you name a fiat currency that has even lasted more than 70 years?

You need to read more about history and more about the role of precious metals.  Do a search of this site, do the crash course if you haven't, and read some of the FAQ's on the various PM sites.

Mark

 

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Lemonyellowschwin
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Re: Gold?
Bogdan wrote:

And what if some scientist finds a cheap way to produce gold from other elements?

This man tried, but he became impotent in the process and his wife left him for a phrenologist.  Since then no scientist has been willing to give it another go.

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Re: Gold?

[Duplicate reply. Text removed. - Poet]

Poet's picture
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Re: Gold?
Bogdan wrote:

Hi,

I'm having a hard time understanding why everybody wants to buy gold. It seems to me it is a pretty useless metal, you cannot eat gold, car engines don't burn gold, electric appliances don't run on gold, so why is everybody so fond of gold? Does it have any other uses besides making jewelry? And usually people only buy jewelry when they have extra money, not when they can hardly make ends meet...

What is the real difference between gold and worthless paper money? Sure, you cannot print gold, but you can mine it. And what if some scientist finds a cheap way to produce gold from other elements?

Thanks,

Bogdan.

Good question, Bogdan.

First, I'm not an expert. I can only say what I think. I'd say that gold is just one measure of wealth. Others include health, knowledge, skills, experiences, family, friends, assets, tools, and resources.

Gold is certainly one measure of wealth and in times of inflation or hyperinflation (basically when paper money is worthless), gold often still holds value and remains useful as a means of hard currency. That is why investors go to gold. As long as people remain somewhat civilized and are willing to trade with one another, gold will remain useful as a medium of exchange above that of pure barter because certainly it's not easy to trade fresh mutton for a day of field labor if all you want is a bushel of apples.

However, as you've surmised, it's best to also have other forms of wealth. You can't eat gold, that's for sure, and there may come a time when your neighbor will NOT want to trade you his spare food for your gold coin.

Poet

Disclaimer: I have no gold.

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Re: Gold?

Hi Bogdan

I'm having a hard time understanding why everybody wants to buy gold

Me too. And I actually own a bit!

IMO a lot of people seem to be equating fear of hyperinflation with the need to get into gold wheras really it signals a need to get out of cash.  But there are plenty of other assets that will preserve your wealth just as well as gold will. A house for example will always be worth one house regardless of the rate of inflation. And it will provide you with either a place to live or rent. Strong multinational companies should be able to survive a bout of inflation and given time maintain their profit margins. Again, like property, an asset that should not only rise with inflation but also provide an income. Gold may hold its purchasing power but won't give you an income on top. And if gold then why not a basket of commodities including those that are more obviously useful such as energy and foodstuffs?

Yep, bit of a puzzle, especially for those prepared to sink more than a few % into the metal. Just seems risky to me when there are so many other assets out there offering the same or better protection.

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Lemonyellowschwin
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Gold?

Why gold?  It gets back to the definition of money.

Go back to the Crash Course if you haven't already.

Human society requires money.  Whatever is chosen to act as money must reasonably fulfill the following functions:  (a) a store of value; (b) a medium of exchange; and (c) a unit of account.

Gold is desired as money because Euros, Dollars, Yen, Pounds, and other fiat currencies do not perform the "store of value" function adequately.  Rocks, beads, and shells also have their drawbacks.

Don't get caught up in the idea that gold does not have a USE.  Its USE is as money.  It and the other PMs are the only substances that reliably fulfill all three roles.

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Re: Gold?
Bogdan wrote:

Hi,

I'm having a hard time understanding why everybody wants to buy gold. It seems to me it is a pretty useless metal, you cannot eat gold, car engines don't burn gold, electric appliances don't run on gold, so why is everybody so fond of gold? Does it have any other uses besides making jewelry? And usually people only buy jewelry when they have extra money, not when they can hardly make ends meet...

What is the real difference between gold and worthless paper money? Sure, you cannot print gold, but you can mine it. And what if some scientist finds a cheap way to produce gold from other elements?

Thanks,

Bogdan.

Bogdan,

You're absolutely right that you cannot eat gold, you cannot run your car with it, and you cannot use it as energy. 

The problem with storing your wealth in food though, is that it is perishable. 

You could store your wealth in fuel if you do not mind having barrels full of flamable material on your property, but then how do you sell it when you want to use it for something else?  Do you ship someone a barrel of fuel in exchange for payment?  Do they come to your place and pick it up?  It's hard to see how fuel could function as money.   Maybe radioactive uranium stored very safely could work, but I do not think that would fly for most people.

You could invest in solar panels, up to the point that the investment would be useful (buying more solar panels than you actually intend to use for energy would be pretty useless), but as a store as wealth, it's not an option.  When you want to trade your solar panels for something else, again what do you do?

Nobody is saying not to have well stocked food and fuel, and to have resilient energy sources.  The question is, how do you store your wealth once all those needs have been satisfied?  So far, meaning for the past 5,000 years, nobody has been able to come up with a better solution to that than gold.

It keeps its value, it's very easy to transport and store, it does not corrode, wear or "go bad", and nobody has been able to "manufacture" it. 

I suggest you study up on gold on this site and elsewhere.  Clearly, you're a victim of the campaign that's been waged to brainwash people vis a vis gold that's been going on since 1913.

 

 

 

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Re: Daily Digest - May 21

The Gulf Oil Spill is obviously a huge concern to a great many people, especially along coastal areas. There has been a lot of coverage about the amount of oil gushing from the broken well, but I am concerned when the part about "gas" being released is only given, in most reports, a casual mention.

Does anyone know what the implications of a great quantity of "methane hydrates" being released from this spill could mean?

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Re: Daily Digest - May 21

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Re: Daily Digest - May 21

idoctor,

words (that can be used on this site) escape me.

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Re: Gold?
Bogdan wrote:

Hi,

I'm having a hard time understanding why everybody wants to buy gold. It seems to me it is a pretty useless metal, you cannot eat gold, car engines don't burn gold, electric appliances don't run on gold, so why is everybody so fond of gold? Does it have any other uses besides making jewelry? And usually people only buy jewelry when they have extra money, not when they can hardly make ends meet...

What is the real difference between gold and worthless paper money? Sure, you cannot print gold, but you can mine it. And what if some scientist finds a cheap way to produce gold from other elements?

Thanks,

Bogdan.

 

The same can be said about paper money or a stock certificates. You cant eat money or stock certificates nor can put them in your petrol tank.

The key is what you can exchange them for to get other things you want. The main difference between gold and paper  is that unlike paper money a physical rare and precious metal like gold is NOT open to being created out of thin air by a key stroke and devaluing your savings.

If some scientist finds a way of making gold out of lead for example then myself as a gold holder would lose. Basic supply and demand. This is exactly what has happened in the diamond industry with artificial diamonds. Now a flawed "real" diamond is worth more than perfect manufactured ones. However paper money and certificates are here and now being created by the billions!!

Best safety work towards a higher paying job or better still start some business. I feel owing your own home if purchased at a sensible price is worth while. By own I mean no debt. Stay away from credit card and other short term debt. Keep some cash on hand and at lest 3 months food and water. Then a safe option is to diversify into other assets. Stocks including international, Cash, metals.'

 

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Re: Daily Digest - May 21
ELIZABETH S. wrote:

Does anyone know what the implications of a great quantity of "methane hydrates" being released from this spill could mean?

I believe the concern is that the release of methane hydrates is that once exposed to the atmosphere, it is a very powerful greenhouse gas, I've heard up to 21X more so than CO2.  This of course sets off a continued cycle of even more methane which bubbles up from some previously frozen terrain where it was previously being (harmlessly) stored.

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Re: Daily Digest - May 21
Eye wrote:

 Can you name a fiat currency that has even lasted more than 70 years?

Oooh oooh, pick me, pick me!

Tally sticks. 726 years.

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Re: Daily Digest - May 21
Tycer wrote:
Eye wrote:

 Can you name a fiat currency that has even lasted more than 70 years?

Oooh oooh, pick me, pick me!

Tally sticks. 726 years.

How long have cigarettes been legal tender in the prison system?

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Re: Daily Digest - May 21
SagerXX wrote:
Tycer wrote:
Eye wrote:

 Can you name a fiat currency that has even lasted more than 70 years?

Oooh oooh, pick me, pick me!

Tally sticks. 726 years.

How long have cigarettes been legal tender in the prison system?

Oops.  My bad.  Cigarettes as currency are not fiat -- they are, of course, backed by...cigarettes.

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Re: Daily Digest - May 21

Mark19..excellent points..

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Re: Daily Digest - May 21

Hi Bogdan,

            Why yes, you can eat gold http://www.ediblegold.com/ and silver too!  ;-)

                       Also Gold IS an element and by definition is unique and cannot be produced from other elements.  That’s why we have the periodic table of elements.

                       But paper dollars can be easily printed.  Now they aren't even printed, they’re just 'ones and zeros' on an electronic accounting ledger that is made up of digital 'ones and zeros'.

                       --TW

                       Disclaimer: I just bought some platinum today!  :-)

 

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turn mercury to gold?

I heard of a guy who turned water into wine.

 

(wonder what wine it was though. Premier Cru year 0005?  Chateau Petrus certainly would be a contender, or?)

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Re: Daily Digest - May 21

I have a question, seeing all the disclaimers :)  I am looking at buying silver, why is silver not as sought after...I would have thought that it would be more so since the rise of the price of gold, etc.

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Re: Daily Digest - May 21

contrary to gold, there is a lot of silver in the world , so it´s cheaper. That does´nt make it a bad investment.

 

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Re: Daily Digest - May 21

Lately I've heard otherwise about above/below ground ratios, etc. and how much "stock" can you put into the undervaluing of silver.  I've read that if the silver/gold ratio was still historically correct, silver would be over 100/oz.... hard for a small investor to cut through the crap/fear/hype.

 

Not to mention, why worry too much about how many C/A dollars an ounce costs.  If you believe a fiat currency is going to tank, why not trade the shiny beads for those pelts?

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Re: Daily Digest - May 21

When the SHTF, we,my wife and children,will provide much food(and entertainment) for gold and silver. We're a farm family who finds it curiously depresing that folks think "victory" city gardens will feed them. I'll feed the first 70 families forever if they will work. I've not found many who understand  the implications of work.

Happily farming hundreds of acres in VA.

Now i'ld like advise :-) Do I sell my PM's(a few onces of gold and thousands of silver) to buy 65 more acres with 3 ponds contiguous with my current land holdings?

 

fold or hold

robie  

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Re: Daily Digest - May 21

idoctor's picture
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Re: Daily Digest - May 21

Jumping from the Euro into the Dollar is like Jumping from the Titanic to take a cruise on the Lusitania....

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Re: Daily Digest - May 21

Actually there is less Silver than Gold, due in part because Silver is consumed, while most of the gold mined is still in existence.  Silver is typically a by product of mining for other minerals, rather than mining for silver itself.  Many say Silver has a much higher potential for gain than Gold.  I own both, about same value in each.  Silver, because of its lower price will, in an emergency, be easier to barter with, should the need arise. 

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Re: Daily Digest - May 21

Can someone comment on the following 2 links.

First 90 trillion dollars in derivatives by one bank?????

and second the only other site although old that comments on the risk

http://www.cornerstoneri.com/comments/TrillionDollarSecret.htm

 

is the market reacting to Europe or Congress?  how can congress possibly effectively legislate to unwind such massive sums?

sorry if this has been a topic of discussion but I'm new to the site. 

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Re: Daily Digest - May 21
robie robinson wrote:

When the SHTF, we,my wife and children,will provide much food(and entertainment) for gold and silver. We're a farm family who finds it curiously depresing that folks think "victory" city gardens will feed them. I'll feed the first 70 families forever if they will work. I've not found many who understand  the implications of work.

Happily farming hundreds of acres in VA.

Now i'ld like advise :-) Do I sell my PM's(a few onces of gold and thousands of silver) to buy 65 more acres with 3 ponds contiguous with my current land holdings?

 

fold or hold

robie  

Robie, with hundreds of acres, and therefore food, alongside some PM's I would think your sittin' pretty right about now. You're well diversified, why gamble?

Beside, if things really do turn to crap you just might get that land cheaper.

(Hundreds of acres?  Really?? How cool is that!!!)

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Re: Daily Digest - May 21
robie robinson wrote:

When the SHTF, we,my wife and children,will provide much food(and entertainment) for gold and silver. We're a farm family who finds it curiously depresing that folks think "victory" city gardens will feed them. I'll feed the first 70 families forever if they will work. I've not found many who understand  the implications of work.

Happily farming hundreds of acres in VA.

Now i'ld like advise :-) Do I sell my PM's(a few onces of gold and thousands of silver) to buy 65 more acres with 3 ponds contiguous with my current land holdings?

 

fold or hold

robie  

As I recall from the CC (was it?), the suggestion was that it will be a good time to sell an ounce of gold when it can buy an acre of land. 

Given that the land you want has a personal premium (adjacent, creates synergy, has valuable agricultural and buffering attributes) and is, therefore, more valuable to you than the average purchaser, I'd pull the trigger before an ounce of gold could catch up.  If you can buy that sweet sounding patch of contiguous earth for a few ounce of gold and your silver, I'd buy.  They will dig more gold for a while, "they" aren't making any more adjacent land.

My two cents.

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Re: Daily Digest - May 21
wildjo wrote:

Given that the land you want has a personal premium (adjacent, creates synergy, has valuable agricultural and buffering attributes) and is, therefore, more valuable to you than the average purchaser, I'd pull the trigger before an ounce of gold could catch up.  If you can buy that sweet sounding patch of contiguous earth for a few ounce of gold and your silver, I'd buy.  They will dig more gold for a while, "they" aren't making any more adjacent land.

But, there might just be less people... Proportionally, the amount of land may increase

Samuel

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simentt
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Re: Daily Digest - May 21

If enough S hits the F, then it may be useful to have wealth that is more mobile and less exposed to 'better armed, new neighbors' than land. Someone with a few acres of land feeding his family and a few good friends should be significantly less exposed than someone who requires a lot of hands to utilize the land he has, and if one is forced to relocate, carrying Au on his person seems preferable to staying with Pb in him.

 

-S

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robie robinson
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Re: Daily Digest - May 21

much to consider until final appraisal comes in. It would, take a community of people to farm with us our place w/o diesel. We've sufficient storage to run the farm 2 years b4 leaving to find fuel. Our excess capacity is from my tendency tohedge which could catch us less than topped off in a shtf moment.

 

thanks for your consideration

robie                                                                                                                                                                                                                                                                  husband,father,farmer,optometrist

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robie robinson
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Re: Daily Digest - May 21

obtw, weaponry is a small concern we've several state and national titles in IBS 1K yard competitions on the farm.(we moved to the farm years ago to be able to shoot alot)

the robinsons 

ps.the farm we're considering,if purchased by myself, would be excellent for any CM community type and we would enjoy neighbors of like mind.

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robie robinson
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Re: Daily Digest - May 21

obtw, weaponry is a small concern we've several state and national titles in IBS 1K yard competitions on the farm.(we moved to the farm years ago to be able to shoot alot)

the robinsons 

ps.the farm we're considering,if purchased by myself, would be excellent for any CM community type and we would enjoy neighbors of like mind.

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SagerXX
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When "big" stories are churning...

...the media, I am now in the habit of looking the other way to see what other (important) stories might be flitting by unnoticed (or deliberately camoflaged).

So, with all the yuge stories currently fighting for center stage (Gulf spill, Euro crisis, et al.), I've been keeping an eyeball peeled for whatever else might be sliiiiiding by the edges.  This, to me, seems to be the big fish nobody's talking about (except for one of the less-crazed versions of ZH's Tyler Durden):

http://www.zerohedge.com/article/america-will-pass-13-trillion-total-deb...

 

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Ready
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Posts: 917
Re: Daily Digest - May 21
robie robinson wrote:

It would, take a community of people to farm with us our place w/o diesel. We've sufficient storage to run the farm 2 years b4 leaving to find fuel.

Robie, you might consider making your own biodiesel since you have the land and equipment to do it.

An acre of canola will produce over 100 gallons of biodiesel (or straight veggi oil if you prefer) per year. Rudolph Diesel developed the engine named after him so farmers could produce their own fuel - he used peanut oil mostly.

http://www.peakprosperity.com/forum/biodiesel-basics/12417

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