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  • Daily Digest

    Daily Digest 11/5 – JPMorgan Gets Back Into the Electricity Business, The Incredible Shrinking Overton Window

    by Daily Digest

    Tuesday, November 5, 2019, 6:49 AM


Economy

Alarmed by Libra, EU to look into issuing public digital currency: draft (Sparky1)

“The ECB and other EU central banks could usefully explore the opportunities as well as challenges of issuing central bank digital currencies including by considering concrete steps to this effect,” said the draft, prepared by the Finnish EU presidency and subject to possible amendments.

Digital currencies like Libra – also known as stablecoins – are usually backed by traditional money and other securities, while crypto coins like bitcoin are not. Both are cryptocurrencies.

7 key races and ballot initiatives to watch in this November’s elections (tmn)

In Mississippi and Kentucky, voters will weigh in on gubernatorial races, while in Virginia, people will have an opportunity to choose members of their state legislature. Across all three states, the implications of the elections could be huge: In both Mississippi and Kentucky, Democrats have the potential to retake the governor’s seats, and in Virginia, the party could flip the House and Senate.

Fifteen Asia-Pacific countries agree on trade pact, India holds back (Thomas R.)

A summit of the leaders of the Regional Comprehensive Economic Partnership (RCEP)left open the door for India to still join if it can resolve issues before the deal is set to be signed in 2020.

Fifteen of the 16 prospective RCEP states “have concluded text-based negotiations for all 20 chapters and essentially all their market access issues,” said the leaders’ statement, which included India.

The unbelievable life and death of Michael C. Ruppert (Thomas R.)

Through the press, Ruppert tried to expose what he’d discovered. In 1981, he made persistent calls to a Los Angeles Herald-Examiner columnist in an effort to expose Teddy’s trafficking network. The columnist ultimately published a two-part series, “The Spy Who Loved Me.” But the series’ findings were, at best, inconclusive. It cited “a retired LAPD intelligence officer, another FBI agent, and [a psychiatrist]” who agreed that Ruppert’s story may have been “what he believes to be the truth,” but that there was scant evidence to prove it. “Each of these three professionals professed both a measure of admiration and a measure of fear of Ruppert,” the series read.

The CDC Is Just Telling Us About This Horrifying Lab Accident a Year Later (Sparky1)

Twelve days post-infection she was treated at a university-based ER for a fever, a general feeling of illness, pain, and worsening swelling of her finger. This means she was seen at two different facilities, and by at least three different doctors, possibly without taking precautions to prevent others from getting infected. I say ‘possibly’ because while she wasn’t told to by supervisors, she may have taken precautions on her own. We can only hope.

The Incredible Shrinking Overton Window (Matt H.)

They get people angrily debating things they can’t change, rather than constructively working on the things that they can.

They get people shoving against each other in opposite directions, while they swiftly build a cage around us all.

How you can save tens of thousands of dollars in taxes by moving abroad (Thomas R.)

However, you can move to a country that doesn’t tax the foreign income of its residents – like Panama – and pay no tax on that income (up to $105,900) at all.

That’s a pretty good deal (and Panama is a fantastic place to live).

31% Think U.S. Civil War Likely Soon (Thomas R.)

Just before Trump’s inauguration, half (50%) of voters felt America was a more divided nation after the eight years of the Obama presidency. Since Trump’s election, a majority (55%) of voters believes America is more divided.

Most voters across the partisan spectrum are concerned about political violence from those opposed to Trump’s policies, although Republicans are the most likely to be Very Concerned. The level of concern is about the same among Republicans, Democrats and unaffiliated voters when it comes to the threat of violence from those critical of the media’s coverage of Trump.

Scramble for propane marks Mother Nature’s latest challenge for U.S. farmers (Sparky1)

“Because the corn is wetter, we have to dry it all night to try to keep up,” said Shane Goplin, 45, who farms 1,700 acres of corn in Trempealeau County, Wisconsin. He has been sleeping inside a shed next to his corn dryer to keep an eye on the machine and make sure not a drop of fuel is wasted.

“The problem is everyone is harvesting wet corn,” he said.

A Wave Of Unprofitable Oil Is About To Hit The Market (Michael S.)

“From 2010 through 2014 around 3,000 new oil fields were sanctioned, and we estimate that around 800 of them did not create value,” Espen Erlingsen, head of upstream research at Rystad Energy, said in a statement. “With the pivot in development costs from 2015 onwards, the projects sanctioned over the last four years are in a much better position.”

JPMorgan Gets Back Into the Electricity Business (edelinski)

An ownership stake in physical commodities, including metals mining, oil and gas drilling, and electricity generation, gives banks tremendous information advantages that can be used to trade for profit. “If we have three big banks controlling the energy sector, and three big tech companies controlling everything else, then what kind of world are we living in?” asks Saule Omarova, a professor at Cornell Law School who specializes in analyzing linkages between banking and the commercial economy.

California’s on fire, unplugged and out of easy answers. So why don’t we…? (tmn)

We’ve spent billions: Rare is the press release from Gov. Gavin Newsom that does not include a litany of wildfire actions. But it hasn’t been enough, and as Californians now face the realities of climate change by the terrified millions, the only choices left are hard vs. hard: Black out even more people. Ban wildland homebuilding. Bury power lines. Build microgrids. Break up the state’s largest utility — the bankrupt one supplying half of the state — and give its aging, spark-spewing equipment to taxpayers or customers or hedge funds or Warren Buffett. Burn nature before it burns you.

More than 100 vegetable products recalled for listeria concerns (Sparky1)

Listeria monocytogenes is a pathogenic bacteria that can cause listeriosis. Listeriosis can cause fevers, headaches, stiffness, nausea, abdominal pain and diarrhea in healthy individuals.

However, the infection can be fatal for some people. Pregnant women and their newborns, adults over the age of 65 and people with weakened immune systems are the most at risk, according to the Centers for Disease Control and Prevention (CDC).

Hundreds of thousands of people in California are downriver of a dam that ‘could fail’ (Thomas R.)

Flood waters could even reach Baker, which is more than 140 miles downstream of the dam, the statement said.

But it’s unlikely a storm of that magnitude would occur, Col. Aaron Barta, commander of the Corps’ Los Angeles District said. “The dam has never experienced spillway flow or a flood event that has loaded the dam significantly,” Barta said. “This is a storm that is unlikely to occur, but it is nonetheless a real possibility and one we must be prepared for.”

Blood Gold in the Brazilian Rain Forest (jdargis)

In the course of a two-week visit, I took several flights over the forest. On one, as the plane cleared the treetops, I saw smoke rising in a huge, menacing column, like a cloud of volcanic ash. For hours, the fire burned, unattended, and a dense blanket of smoke settled on the horizon. Fires like this one are an increasingly regular feature of life in the Amazon, where settlers regard them as an essential part of progress.

Scientists Have Found There’s a Crucial Change We Can Make to Better Serve Our Planet (belmontl)

Still, the notion of changing our economic system to fit within the physical limits of our reality is seen as highly controversial and isn’t something many policy makers will discuss.

Especially when leaders of wealthy nations such as the US and Australia openly deny climate change. Or as a leaked document from the UK’s foreign office reads: “Trade and growth are now priorities for all posts… work like climate change and illegal wildlife trade will be scaled down.”

Gold & Silver

Click to read the PM Daily Market Commentary: 11/4/19

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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12 Comments

  • Tue, Nov 05, 2019 - 8:31am

    #1

    thc0655

    Status Platinum Member (Offline)

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    JEDKH

    Jeffrey Epstein Didn’t Kill Himself.

    https://www.zerohedge.com/political/abc-anchor-admits-network-covered-epstein-evidence

    ”Happy Hunger Games! And may the odds be ever in your favor.”

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  • Tue, Nov 05, 2019 - 10:39am

    #2

    Chris Martenson

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    Those darned Fringe Theorists...

    LOL

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  • Tue, Nov 05, 2019 - 1:05pm

    #3

    thc0655

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    JEDKH

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  • Tue, Nov 05, 2019 - 1:55pm

    #4
    Time2help

    Time2help

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    JEDKH

    Here’s a direct link to the salient footage:

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  • Tue, Nov 05, 2019 - 2:16pm

    #5

    thc0655

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    What if we experience a famine like Russia entered in 1921?

    https://airmail.news/issues/2019-11-2/how-to-serve-man

    The stories began to appear in the Soviet press in the autumn of 1921, each one more gruesome than the last. There was the woman who refused to let go of her dead husband’s body. “We won’t give him up,” she screamed when the authorities came to take it away. “We’ll eat him ourselves, he’s ours!” There was the cemetery where a gang of 12 ravenous men and women dug up the corpse of a recently deceased man and devoured his cold flesh on the spot. There was the man captured by the police after murdering his friend, chopping off his head, and selling the body at a street market to a local restaurant owner to be made into meatballs, cutlets, and hash. And then there was the desperate mother of four starving children, saved only by the death of their sister, aged 13, whom the woman cut up and fed to the family.

    The stories seemed too horrific to believe. Few could imagine a hunger capable of driving people to such acts. One man went in search of the truth. Henry Wolfe, a high-school history teacher from Ohio, spent several weeks in the spring of 1922 traveling throughout Samara Province, in southeastern Russia, intent on finding physical evidence of cannibalism. In the district of Melekess, officials told him about a father who had killed and eaten his two little children. He confessed that their flesh had “tasted sweeter than pork.” Wolfe kept on searching, and eventually found the proof he had been looking for…

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  • Tue, Nov 05, 2019 - 2:41pm

    #6

    thc0655

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    Remember, remember the 5th of November

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  • Tue, Nov 05, 2019 - 3:12pm

    #7

    Chris Martenson

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    Another fun fact I did not know...

    You can learn so many things on the internet.

    I played many a game of PacMan but I never detected these patterns:

     

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  • Tue, Nov 05, 2019 - 3:58pm

    Reply to #5
    ao

    ao

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    hunger

    Horrendous stories Tom but I don’t doubt them in the least.  Hunger has always been the most effective tool to control a population.  It works even better than violence.

    There was a book that I read (although I can’t remember the title) about the starvation experiment that took place under the University of Minnesota stadium with WW2 conscientious objectors being the volunteer subjects.  It provides some revealing insights into the effects of extreme hunger.

    https://en.wikipedia.org/wiki/Minnesota_Starvation_Experiment

    My own grandfather fed himself and his brothers and sisters sawdust mixed with potatoes to make it look like they had more food than they actually did and to fill their bellies.  His father had just died so after fighting as a German soldier at age 16, he came back to be the primary breadwinner, although little bread was to be found.  This was in the immediate post WW1 period in Germany from November 1918 to June 1919 when a continued British naval blockade was maintained for months AFTER the November surrender for the purpose of forcing the Germans to accept the harsh terms of The Treaty of Versailles leading to 500,000 Germans starving to death.  The British also used starvation of the women and children of the Boer men in concentration camps to break the will of the Boer men during the Second Boer War circa 1900.  The Americans did the same to Filipino insurrectionists in “pacification” camps in the late 1890s.

    Probably the most famous government induced starvation of citizens was during the Holodomor, courtesy of Stalin.

    https://en.wikipedia.org/wiki/Holodomor

    I spoke to a Ukrainian woman whose grandmother survived it.  They ate bugs, worms, grass, tree bark, anything to stay alive.  She said every year when the cold winter weather would start to set in (and many decades after the Holodomor), her grandmother would go into a panic, dreadfully worried about if they had enough food to survive the winter.

    During the Battle of Stalingrad, the Russians in the city ate every dog, cat, bird, rat, etc. they could find.  They peeled wall paper off the walls to boil it for the potato starch used in the glue.  German soldiers boiled leather belts and boots in an attempt to extract some nutrition.  They also built processing facilities to handle the human excrement from the latrines, washing it to extract any undigested grains.  Some Italian soldiers, even more out of their element in the bitter Russian cold than the Germans, resorted to sucking blood out of dying or recently dead soldiers.  In my opinion, it was the most horrendous battle in modern history with hunger and starvation being ever present amid the carnage.

    Almost everyone knows that both Stalin and Hitler simultaneously starved and worked to death the people in the gulags and the concentration camps.  Most are not as well versed in the details of Mao’s reign and Pol Pot’s reign of terror but they both used hunger as a political weapon and killed millions in this manner as well.

    At the end of WW2, the German civilian and military populations were again starved into submission with the most egregious action by the Western Allies (Russia being another subject altogether) being the lengthy internment of German POWs in Eisenhower’s Rhine “death camps” under horrendous conditions where approximately 1 million soldiers died due to dehydration, starvation, exposure, and disease.  These were mostly regular Wehrmacht, soldiers who lawfully engaged in war according to the Geneva convention (and committed no atrocities, unlike many of the SS and all the Einsatzgruppen committed).  This situation occurred not due to lack of food, water, or shelter but for political purposes.  Here’s an American guard’s description of these events.

    https://www.ihr.org/jhr/v10/v10p161_Brech.html

    For young people thinking socialism is such a great idea (with Stalin, Hitler, Mao, and Pol Pot all being socialists), I recommend they read books like “Coming Out of the Ice:An Unexpected Life” by Victor Herman.  He was an American caught up in the Russian gulag system in the 1930s.  There was a TV movie made about him but it didn’t begin to do justice to the book or to the horror that Victor survived.  Quite frankly, it is one of the most incredible tales of human survival, persistence against all odds, and the will to live that I have ever read.  At one point, he stayed alive by eating raw rats that were, in turn, feeding off the stacked up corpses of people who had died in the gulag.

    Most Americans, with our food abundance, can’t begin to conceive of situations like this.  But the possibility of such an occurrence in the future is not at all remote.

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  • Tue, Nov 05, 2019 - 5:00pm

    #8
    ao

    ao

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    baa baa, shame on me

    I open my mouth but all I hear is this strange sound, “Baa, baa”.  For in this, I am a sheep like too many others.  I know Epstein didn’t kill himself.  In fact, almost everyone with an IQ equivalent to or larger than their shoe size knows this.  Told anyone who would listen beforehand that this would happen.  Told everyone afterward, “Told ya so”.  And yet, other than a call to my Congressman and a comment on a local blog akin to a social media letter to the editor, I do nothing.  I’m not a leader type and never have been.  I’m not interested in leading others.  Leading myself and my loved ones keeps me plenty busy.  And yet, the question I’m forced to ask myself is, exactly how egregious would THEIR actions have to be before I would finally take to the streets?  Is the comfortable, middle class, educated American demographic of which I am a part, even capable of these actions for this particular purpose anymore.  I don’t know.  And as a person who has always stood up for their principles and been willing to take flak for it, I find this look at myself disturbing.  I am part of the problem yet in this late stage of life, after working long and hard for so many years and having achieved a certain level of security and independence, I’m reluctant to jeopardize that status.

    I’m preoccupied at this stage with moving my fading 93 year old mother over 1,100 miles to move in with my wife and I (and hopefully put off using assisted living).  What with a million little and big details to take care of including getting her house ready to put on the market, I don’t have a lot of time for much else right now.  But in the back of my mind, this questions haunts me as I search for something meaningful that I can do to address this situation.  When does this finally stop?  When is enough enough?  Anyone have any thoughts?

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  • Wed, Nov 06, 2019 - 4:56am

    #9
    VeganDB12

    VeganDB12

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    telling the truth

    A modest response to a very humbling question.  It seems a lot of people here feel the same way.  With the media basically gaslighting (ie lying to our faces causing people to question themselves and feel less than) ,speaking up, telling the truth  and doing what is “within our reach” is still important.  Writing to a congressman matters.  Telling the truth still matters, it validates what the rest of us see.  Action needs to occur individually to lead to collective action.  Along with that caring for our homestead and loved ones comes first always IMHO.   That’s all I got for now. I hope others answer.

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  • Wed, Nov 06, 2019 - 6:47am

    Reply to #8

    westcoastjan

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    Focus on the purpose

    Hi ao,

    Great comment. I am very preoccupied with the same line of thinking. Had a great conversation with my brother about this recently. We both actively work to ‘do good’ but recognize that we do so from a place of privilege. Did we do enough, can we do enough? Have we made any difference?

    I find the more outcome oriented people are, and that describes me, the less satisfied we feel. It helps to just focus on the purpose. I am sure Chris and Adam feel the frustrations of not being more successful in achieving widespread adaptation of their message. But by continuing to focus on the purpose and doing what they/we can do to effect change, we enable ourselves to continue on with the slog. Doing good is a slog, no question. We have to rejoice in the little wins and hope they pool with the little wins of others to add up to a sum which equates to bigger wins. My two cents anyway…

    Jan

     

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  • Wed, Nov 06, 2019 - 9:29am

    #10

    thc0655

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    We’re at that “awkward stage”

    I think it was Naomi Wolf who said, “America is that awkward stage: it’s too late to work through the system but it’s too soon to just shoot the bastards.”

    I struggle with the same issues, but at the same time I realize we may be much closer than any of this think to the tipping point where the “business-as-usual” system falls apart and we begin the struggle for what will come next. I think we continue to do these kinds of things (below) as a way of working toward that tipping point.

    1. Withdraw as much as we can from The System. Starve it to death.

    2. Work to inform and inspire those who are still sleeping (or aware but afraid to face the issues). To inform is intellectual and rational. To inspire is emotional and aspirational.

    3. Create alternative systems. Be the change we want to see.

    4. Throw intellectual and emotional wrenches into the system to trip it up and cause it to breakdown sooner that it would on it’s own. The JefferyEpsteinDidntKillHimself memes are one example. Challenge The Narrative (TM). Just say “no.”

    5. Prepare to survive and prosper through The Collapse so as to be able to be part of building new systems, values and infrastructures.

    6. A day may come when “direct action” is required of us, but when that day comes The Panopticon will make discussing it online too dangerous. So until then we should build face to face relationships that are conducted in “meat space” while always careful to thwart surveillance.

    7. Continue to enjoy life and live with integrity even in these times.

    ”Happy Hunger Games. And may the odds be ever in your favor.”

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