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    Daily Digest 11/30 – BOJ Sitting On ETF Time Bomb, Melting Glaciers Godsend For Peru (For Now)

    by DailyDigest

    Thursday, November 30, 2017, 3:40 PM


Records show these prosecutors gave themselves huge bonuses using asset forfeiture funds (cmartenson)

On top of the legality question is the glaring perverse incentive: If law enforcement employees can use criminal asset forfeiture to line their own pockets, even the most honest will be faced with an enormous encouragement to confiscate funds unrelated to the crime or otherwise abuse their positions of authority. Unlike civil asset forfeiture, criminal asset forfeiture can be appropriate — for example, you shouldn’t be allowed to keep something you stole — but it has certainly been abused or applied in unreasonable ways.

BOJ seen sitting on ETF time bomb as pile reaches $180bn (cmartenson)

That risk cannot be ignored. In recent weeks the BOJ has been grabbing large amounts of ETFs with share prices at high levels, pushing up the average purchase price. Estimates show that the market level where the central bank’s paper gains would turn to losses lies at around 16,000 for the Nikkei Stock Average, compared with the index’s current level of around 22,500. The longer the central bank continues buying, the higher this break-even point will rise.

Quotes, Gloats, and Anecdotes from the Silver & Gold Summit (Diane C.)

But the low attendance and focus on an alternative asset reminded me a lot of when I attended a similar conference in the spring of 2007. Interest in gold was flat, the Dow was roaring, and uranium was the flavor of the day. Of course 18 months later the Dow was crashing, the uranium market was obliterated, and gold and silver were on the cusp of beginning a historic run-up. The “low interest” in precious metals ended up serving as a signal for one of the greatest buying opportunities. I have a feeling we’re at a similar juncture now.

Without further ado, here are some of the more interesting quotes, gloats, and anecdotes from the conference you might find interesting (for the most part I’m paraphrasing from my notes)…

Here’s Why the Cryptocurrency Dash Puts Bitcoin to Shame (Tiffany D.)

I personally believe that the only reason bitcoin is so much more valuable than any other cryptocurrency is because it was the one that first broke through to the mainstream. That’s still important, though. It, at the very least, gives other coin developers something to improve on.

Buy or Sell? A Question of Risk Management (Axel M.)

While conventional wisdom suggests stocks go up in the long-run, it makes a big difference whether you invest in March 2000, the peak of the dot-com bubble; or March of 2009, the financial crisis low for major equity indices. With a ten-year horizon, odds are the market will experience both euphoria and panic. If you invested in the S&P 500 on March 9, 2000, you would be in the red 10 years later, even if you re-invested dividends. Conversely, if you invested ten years ago, in November 2007, an investment in the S&P 500 would have had a decent return; ask yourself, though, whether you would have stayed the course throughout the financial crisis. Finally, if you invested at the post-crisis low in March 2009, your ten years aren’t over, but you could brag of double-digit annualized returns through Thanksgiving this year:

China to deploy ‘Night Tigers’ to Syria in support of Assad’s forces (lambertad)

Hundreds of people have been killed in Xinjiang in the past few years, most in unrest between Uighurs and ethnic majority Han Chinese. The government blames the unrest on Islamist militants who want a separate state called East Turkestan.

Uighurs themselves complain of discrimination and say their traditional and religious way of life is being eroded by Chinese domestic policy and an influx of settlers from elsewhere in China.

How to Survive the Next Market Collapse (Tiffany D.)

Rebalancing your portfolio keeps you in the game longer. It also gives you a chance to explore new investment avenues that maybe you didn’t have the capital to invest in a year or two ago.

Is it time to potentially move some of your funds out of stocks and into rare tangible assets such as stamps, art or rare coins?

Coinbase ordered to give the IRS data on users trading more than $20,000 (DennisC)

“Coinbase itself admits that the Narrowed Summons requests information regarding 8.9 million Coinbase transactions and 14,355 Coinbase account holders. That only 800 to 900 taxpayers reported gains related to bitcoin in each of the relevant years and that more than 14,000 Coinbase users have either bought, sold, sent or received at least $20,000 worth of bitcoin in a given year suggests that many Coinbase users may not be reporting their bitcoin gains,” the court documents read.

Oil Majors Are Leading The Recovery Race (Michael K.)

Taken together, the moves to step up payments to shareholders is a sign that the oil majors are feeling much more confident than they were in recent quarters. Shell increased its guidance for free cash flow from a prior range of $20 to $25 billion through 2020, up to a new range of $25 to $30 billion—a level that assumes oil prices trade at an average of $60 per barrel. The “strategy update shows an encouraging increase in future cash flows,” said Simon Gergel, chief investment officer of equities at Allianz Global Investors, according to Bloomberg. The restoration of the cash dividend “reflects their improving cash-generation profile,” he said.

In Peru’s Deserts, Melting Glaciers Are a Godsend (Until They’re Gone) (JM)

In this part of Peru, climate change has been a blessing — but it may become a curse. In recent decades, accelerating glacial melt in the Andes has enabled a gold rush downstream, contributing to the irrigation and cultivation of more than 100,000 acres of land since the 1980s.

Yet the boon is temporary. The flow of water is already declining as the glacier vanishes, and scientists estimate that by 2050 much of the icecap will be gone.

Gold & Silver

Click to read the PM Daily Market Commentary: 11/29/17

Provided daily by the Peak Prosperity Gold & Silver Group

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."

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  • Thu, Nov 30, 2017 - 5:05pm



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    RT America blocked on some browsers?

    RT America is blocked by the browser on my blackberry. It’s claiming that the website certificate has been revoked. Internet explorer and Chrome seem to be working fine on my computer. Anybody else experiencing something similar on other browsers?

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  • Fri, Dec 01, 2017 - 7:21am



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    US Debt Authority Won't Lapse Until March or April, CBO Says

    US Debt Authority Won’t Lapse Until March or April, CBO Says

    Bloomberg19 hours ago
    The U.S. Treasury will likely hit the federal debt limit by late March or early April of next year if Congress doesn’t act to raise the debt ceiling, the nonpartisan Congressional … “If that occurred, the government would be unable to pay its obligations fully, and it would delay making payments for its activities, default on its debt …

    US Treasury would run out of cash by early April if debt ceiling not …
    Reuters19 hours ago

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  • Fri, Dec 01, 2017 - 10:40am

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    BlackBerry Browser

    Have had issues w several sites. Opening private browsing window has worked for most sites… Brad

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