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    Daily Digest 1/20 – Paul Singer To Warn Of Derivatives Catastrophe, Southern Heat Wave Takes Toll

    by DailyDigest

    Monday, January 20, 2014, 3:25 PM


Craft Beer, the (Very) Limited Edition (Nervous Nelly)

Hill Farmstead is one of at least three Vermont craft breweries that are churning out small batches of highly sought-after beers and have owners with firm plans to keep the operations small. Mr. Hill’s story offers lessons in how limiting production can bring success.

Flashback: Kyle Bass Advises University of Texas to Take $1bn Gold Delivery (Mark)

“The COMEX had a bout $80 billion dollars of open interest between futures and futures options. And in the warehouse they had $2.7 billion of deliverables. So $80 billion in open interest, 2.7 billion in deliverables, we’re going to own it a long time – that’s an easy one, you’re going to go get it.”

At Davos: Paul Singer To Warn Of Derivatives Catastrophe (westcoastjan)

“We can only assume that the reason the global financial system is still… overleveraged, opaque, reliant upon the implicit and explicit support of governments for its very existence… is that fixing the problem would be too painful for powerful special interest groups,” the rough draft says, setting up for the next warning and pointing to government bailouts and the political lobbying machine that ensures they remain intact.

Health Canada library changes leave scientists scrambling (westcoastjan)

Before the main library closed, the inter-library loan functions were outsourced to a private company called Infotrieve, the consultant wrote in a report ordered by the department. The library’s physical collection was moved to the National Science Library on the Ottawa campus of the National Research Council last year.

“Staff requests have dropped 90 per cent over in-house service levels prior to the outsource. This statistic has been heralded as a cost savings by senior HC [Health Canada] management,” the report said.

A Field Guide To Anti-Technology Movements, Past And Present (westcoastjan)

Though historians now believe the Luddite movement wasn’t necessarily anti-technology in nature (in fact, their main complaint was a lack of opportunity among the labored force, according to the Smithsonian), the term Luddite has come to signify any person or group who resists the advancing of technology. As Blake Snow, author of Finding Offline Balance In An Online World, puts it, Luddites were “the original gangsters of anti-technology.”

Some doctors refused to treat emission-area residents: report (westcoastjan)

Doctors fear negative consequences to their careers if they speak out, and in one case, one lab refused to process a test, says Dr. Margaret Sears, an Ontario expert in toxicology and health who will appear this week at a special hearing into complaints about emissions from the Baytex oilsands operation 32 kilometres south of Peace River.

Millions in Hurricane Sandy relief money withheld from New Jersey city because pro-Christie development deal wasn’t signed, mayor says (westcoastjan)

Zimmer said Lt. Gov. Kim Guadagno pulled her aside at an event in May and told her Sandy aid was tied to the project – a proposal from the New York City-based Rockefeller Group aimed at prime real estate in the densely populated city across the river from New York City.

“I was directly told the by the lieutenant governor – she made it very clear – that the Rockefeller project needed to move forward or they wouldn’t be able to help me,” Zimmer told The Associated Press.

Death in a hot climate: southern heatwave to take its toll (denszcz)

The elderly and the very young, in particular, are unable to react adequately to high ambient temperatures. Individuals who are very obese, very malnourished or have poor physical fitness are also more physically vulnerable to extreme heat.

Perfect Storm of Problems Forces Shell to Announce 48% Drop in Earnings (James B.)

Analysts blame a perfect storm of problems over the past three months for the dismal earnings, claiming that profit margins in the refinery sector have fallen, production costs have increased, Nigerian output has suffered, and the Australian dollar, where Shell is developing some of its largest projects, has taken a dive.

Gold & Silver

Click to read the PM Daily Market Commentary: 1/17/14

Provided daily by the Peak Prosperity Gold & Silver Group

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