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    Daily Digest 12/17 – How a World Order Ends, Why Did Old People Decide to Be Broke?

    by DailyDigest

    Monday, December 17, 2018, 2:30 PM


Economy

Huawei executive arrest could impact Vancouver real estate prices: Barron’s (Uncletommy)

B.C. Supreme Court judge William Ehrcke on December 11 granted Wanzhou’s release on $10 million bail (including $7 million in cash) on the condition that she wear an electronic ankle bracelet, surrender passports, stay in Vancouver and its suburbs and confine herself to one of her family’s two Vancouver homes between 11 p.m. and 6 a.m.

Record Foreign Buying of Japan Bonds Spells Headache for BOJ (Thomas R.)

“The BOJ has also drawn a line in the sand in terms of allowing yields to leak higher — given they’ve doubled down on their bond buying, there’s relative stability in the market,” said Pelosi, who helps oversee the equivalent of $22 billion. “In a world with a lot of uncertainty, that can be attractive to some global investors.”

How a World Order Ends (tmn)

But if the end of every order is inevitable, the timing and the manner of its ending are not. Nor is what comes in its wake. Orders tend to expire in a prolonged deterioration rather than a sudden collapse. And just as maintaining the order depends on effective statecraft and effective action, good policy and proactive diplomacy can help determine how that deterioration unfolds and what it brings. Yet for that to happen, something else must come first: recognition that the old order is never coming back and that efforts to resurrect it will be in vain. As with any ending, acceptance must come before one can move on.

Why Did All the Old People Decide to Be Broke? (edelinski)

The particular deal Coomer had with McDonnell Douglas required him to spend 30 years with the company. After he’d been working at the company’s Tulsa factory for 29 years, he told CBS, an announcement came over the loudspeaker telling the workers that the plant was being shut down, leaving him unemployed and one year short of the full pension.

Saboteur in Chief (newsbuoy)

There is, surely, a reason why books that give us Trump in all his outlandish tawdriness—like Michael Wolff’s Fire and Fury and Bob Woodward’s Fear: Trump in the White House—cannot, however appalling their accounts may be, do him any harm. They are exercises in “looking straight at him to learn the truth about him,” an act that seems entirely right by any traditional political and journalistic standard but that misses the specificity of Trump’s performance. If you look straight at such a glaring object, you are blinded.

Gun deaths in US reach highest level in nearly 40 years, CDC data reveal (tmn)

Firearm deaths in the data include gun deaths by homicide and suicide, unintentional deaths, deaths in war or legal interventions, and deaths that are undetermined.

When the data are analyzed by race and gender, they show that white men made up 23,927 of the total 39,773 firearm deaths last year, including suicides.

Texas Judge Strikes Down Obama’s Affordable Care Act as Unconstitutional (TS)

The Justice Department’s response to the case was highly unusual: though it disagreed with the plaintiffs that the entire law should be struck down, it declined this year to defend not just the individual mandate, but the law’s provisions that protect people with pre-existing conditions. That prompted a coalition of 16 states and the District of Columbia, led by California, to intervene and defend the law.

The Worst Passwords of 2018: Is it Time to Change Yours? (Thomas R.)

In a study of 5 million leaked passwords from recent breaches, SplashData found that some common bad passwords that keep popping up include “123456,” “password,” “admin,” and “abc123.”

You really shouldn’t eat glitter, FDA warns (Thomas R.)

The federal agency released a YouTube video to help folks discern which glitter is good, and which is bad. Companies that produce edible glitter are required by law to list ingredients on the label. Ingredients can include sugar, acacia, cornstarch and color additives.

According to the FDA, decorative glitters and dusts are commonly sold under names like luster dust, disco dust, twinkle dust, petal dust and shimmer powder.

ASA Gold and Precious Metals Limited Announces Agreement to Appoint Merk Investments as Investment Adviser (Axel M.)

Having evaluated strategic options for ASA, the Board concluded that externalizing investment management with an experienced and committed investment adviser will provide valuable resources and greater efficiencies. The Board believes that this opportunity provides a more sustainable and transparent cost structure for the long-term benefit of shareholders.

Axel Merk, President and Chief Investment Officer of Merk Investments, said: “Merk is pleased to have been selected as investment adviser to ASA. Following approval by shareholders, we look forward to providing new resources and continuing ASA’s investment focus. Combined with our commitment to the gold space dating back about 15 years, we believe Merk’s extensive macro research may benefit ASA.

Nations Agree On Rules To Put Paris Climate Agreement Into Action (TS)

In that context, some observers were cautiously optimistic about the outcome of this week’s U.N. climate talks in the city of Katowice. “Particularly given the broader geopolitical context, this is a pretty solid outcome,” said Elliot Diringer, the executive vice president of the Center for Climate and Energy Solutions. “It delivers what we need to get the Paris Agreement off the ground.”

This Radical Plan to Fund the ‘Green New Deal’ Just Might Work (Joseph G.)

A network of public banks could fund the Green New Deal in the same way President Franklin Roosevelt funded the original New Deal. At a time when the banks were bankrupt, he used the publicly owned Reconstruction Finance Corp. as a public infrastructure bank. The Federal Reserve could also fund any program Congress wanted, if mandated to do so. Congress wrote the Federal Reserve Act and can amend it. Or the Treasury itself could do it, without the need to even change any laws. The Constitution authorizes Congress to “coin money” and “regulate the value thereof,” and that power has been delegated to the Treasury. It could mint a few trillion-dollar platinum coins, put them in its bank account and start writing checks against them. What stops legislators from exercising those constitutional powers is simply that “everyone knows” Zimbabwe-style hyperinflation will result. But will it? Compelling historical precedent shows that this need not be the case.

Gold & Silver

Click to read the PM Daily Market Commentary: 12/14/18

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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5 Comments

  • Mon, Dec 17, 2018 - 8:15am

    #1

    saxplayer00o1

    Status Silver Member (Offline)

    Joined: Jul 30 2009

    Posts: 2933

    14889930106680 Reasons to Fear Recession

    14889930106680 Reasons to Fear Recession

    Bloomberg-6 hours ago
    This debt bubble will not be easily fixed. Finding Reverse Again. Japanese Prime Minister’s famous three economic arrows are failing to hit their mark. Debt that …

    US banks quietly pull back from riskiest loans amid recession fears

    Reuters-3 hours ago
    … as do industry reserves and charge-offs for bad debt, banks have started to pull … like the 2001 tech bubble bursting than the 2007-09 global financial crisis.

    Ron Paul: A 50% correction will spark depression-like conditions that …

    CNBC-17 hours ago
    … quantitative easing has caused the “biggest bubble in the history of mankind. … been highly critical of the 2017 Trump tax cuts for creating a dire debt situation.

    Japan’s central bank to warn of rising growth risks, policy seen steady

    Reuters-10 hours ago
    TOKYO (Reuters) – As the risks to the global economy rises, the Bank of Japan is expected to join a chorus of warnings from other policy-makers of the threat to …

    Market sell-off was ‘not an isolated event’ and expect more sharp falls …

    CNBC-21 hours ago
    The Bank of International Settlements (BIS), an umbrella group for the world’s … The BIS highlighted the steady increase of interest rates from central banks …

     

    Why Record $1.465 Trillion Student Debt Could Test US Economy

    Fortune-4 hours ago
    U.S. student loan debt outstanding reached a record $1.465 trillion last month and one … The record student debt level is more than double the $675 billion …

    Kentucky is in a $43 billion pension hole. Here are some reasons why

    Courier Journal-3 hours ago
    FRANKFORT – In 2000, Kentucky’s public retirement plans were fully funded. Since then, they’ve accumulated nearly $43 billion in debts — making Kentucky’s …

    French PM predicts budget deficit at 3.2 percent of GDP in 2019: Les …

    Reuters-19 hours ago
    French PM predicts budget deficit at 3.2 percent of GDP in 2019: Les Echos … protesters earlier this month, blowing a 10 billion euro ($11.30 billion) hole in the …

    Dozens of LA Pensions Exceeding IRS Limits, Costing Taxpayers …

    KTLA-22 hours ago
    … are collecting such generous retirement pay that they exceed pension fund limits set by the Internal Revenue Service, saddling taxpayers with additional costs, …

     

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  • Mon, Dec 17, 2018 - 8:48am

    #2

    thc0655

    Status Platinum Member (Offline)

    Joined: Apr 27 2010

    Posts: 1435

    Venezuelans regret being disarmed

    https://www.foxnews.com/world/venezuelans-regret-gun-prohibition-we-could-have-defended-ourselves

     As Venezuela continues to crumble under the socialist dictatorship of President Nicolas Maduro, some are expressing words of warning – and resentment – against a six-year-old gun control bill that stripped citizens of their weapons.
    “Guns would have served as a vital pillar to remaining a free people, or at least able to put up a fight,” Javier Vanegas, 28, a Venezuelan teacher of English now exiled in Ecuador, told Fox News. “The government security forces, at the beginning of this debacle, knew they had no real opposition to their force. Once things were this bad, it was a clear declaration of war against an unarmed population.”
    Under the direction of then-President Hugo Chavez, the Venezuelan National Assembly in 2012 enacted the “Control of Arms, Munitions and Disarmament Law,” with the explicit aim to “disarm all citizens.” The law took effect in 2013, with only minimal pushback from some pro-democracy opposition figures, banned the legal commercial sale of guns and munitions to all – except government entities.
    Chavez initially ran a months-long amnesty program encouraging Venezuelans to trade their arms for electrical goods. That year, there were only 37 recorded voluntary gun surrenders, while the majority of seizures – more than 12,500 – were by force…
    Prior to the 2012 reform, there were only around eight gun stores in the entire country. And the process of obtaining a legal permit to own and carry was plagued by long wait lines, high costs and bribery “to make the process swifter” at the one department allowed to issue licenses, which operated under the umbrella of the Ministry of Defense.
    “Venezuelans didn’t care enough about it. The idea of having the means to protect your home was seen as only needed out in the fields. People never would have believed they needed to defend themselves against the government,” Vanegas explained. “Venezuelans evolved to always hope that our government would be non-tyrannical, non-violator of human rights, and would always have a good enough control of criminality.”
    He said it didn’t take long for such a wide-eyed public perception to fall apart. “If guns had been a stronger part of our culture, if there had been a sense of duty for one to protect their individual rights, and as a show of force against a government power – and had legal carry been a common thing – it would have made a huge difference,” he lamented.
    Since April 2017, almost 200 pro-democracy protesters in Venezuela – armed mostly with stones – were shot dead by government forces in brutal retaliation to their call to end the oppressive socialist regime. The once oil-wealthy nation has continued its downward spiral into financial ruin, extreme violence, and mass human rights violations. An estimated three million Venezuelans have been forced to flee since 2015.
    “Venezuela shows the deadly peril when citizens are deprived of the means of resisting the depredations of a criminal government,” said David Kopel, a policy analyst, and research director at the Independence Institute and adjunct professor of Advanced Constitutional Law at Denver University. “The Venezuelan rulers – like their Cuban masters – apparently viewed citizen possession of arms as a potential danger to a permanent communist monopoly of power.”
    Although the bill was sold to the population as a hardline effort to improve security, and sharply reduce crime, many now point to Venezuela as a case study for how gun prohibition can actually produce the opposite effect.
    The violent crime rate, already high, soared. Almost 28,000 people were murdered in 2015 – with the homicide rate becoming the world’s highest. Compare that, according to GunPolicy.org – an international firearms prevention and policy research initiative – to just under 10,000 in 2012, and 6,500 thousand in 2001, the year before Chavez came to power.
    The total number of gun deaths in 2013 was estimated to 14,622, having steadily risen from 10,913 in 2002. While comprehensive data now goes unrecorded by the government, in September this year, Amnesty International declared Venezuela had a murder rate “worse than some war zones” – 89 people per 100,000 people – and three times that of its volatile neighbor Brazil.
    Much of the crime has been attributed by analysts to government-backed gangs – referred to in Spanish as “collectivos” – who were deliberately put in place by the government.
    “They were set up by the government to act as proxies and exert community control. They’re the guys on the motorcycles in the poor neighborhoods, who killed any protesters,” said Vanessa Neumann, the Venezuelan-American president and founder of Asymmetrica, a Washington, D.C.-based political risk research and consulting firm. “The gun reform policy of the government was about social control. As the citizenry got more desperate and hungry and angry with the political situation, they did not want them to be able to defend themselves. It was not about security; it was about a monopoly on violence and social control.”
    So while Venezuelan citizens were stripped of their legal recourse to bear arms, the “collectivos” – established by Chavez when came to power – were legally locked and loaded. Deemed crucial to the survival of the socialist dictatorship, the “collectivos” function to brutally subjugate opposition groups, while saving some face as they aren’t officially government forces, critics contend…
     

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  • Mon, Dec 17, 2018 - 12:32pm

    #3

    LynnFogwell

    Status Member (Online)

    Joined: Apr 15 2013

    Posts: 7

    Re: This Radical Plan to Fund the ‘Green New Deal’...

    After reading this article
     This Radical Plan to Fund the ‘Green New Deal’ Just Might Work (Joseph G.)
    I ran outside and planted the two pear trees I have had sitting in pots. Peak Prosterity has taught me to channel my disgust into positive action. I also need to get a couple more silver bars. You can never have enough of those guys when you consider what’s coming!
    Thanks PP,
    Lynn

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  • Mon, Dec 17, 2018 - 2:17pm

    #4

    Michael_Rudmin

    Status Gold Member (Offline)

    Joined: Jun 25 2014

    Posts: 836

    Could y'all do me a favor?

    Just head over to this news site, wxyz, where they posted the walkthrough of the final hours of Jakelin Caal Maquin
    Read it. No effort was spared to save her — CAT scan, helicopter; and it does not appear that the father was at fault. Simply, she got sick, and the sickness dehydrated her, and her father asked for help, but they were too far from what help she needed.
    https://www.wxyz.com/news/national/the-final-hours-of-jakelin-caal-maqui
    And go ahead and say her name. Out loud.
    That’s all. It isn’t that it’ll do anything, but when we name someone, we give them value. It wasn’t one kid that died; it wasn’t a migrant that died; it wasn’t someone on the edge of a collapse that died; it was Jakelin Caal Maquin, a seven year old girl; and though she was all those other things, it is her father Nery Gilberto Caal who is going to be hurting today. Say his name, too. Out loud.
    #saythename
    I requested it for Trump, when others would only say “number fifty-four”, or whatever it was — and I convinced them, including a local leader of one of the parties against him. You can dislike him, you can work against him, but his name is Donald J. Trump; and I won’t tolerate people dehumanizing him. Now I’m requesting it for Jakelin.
    #saythename
    Out loud.

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  • Mon, Dec 17, 2018 - 7:32pm

    Reply to #3

    Michael_Rudmin

    Status Gold Member (Offline)

    Joined: Jun 25 2014

    Posts: 836

    I don't know why they're called silver bars

    Yeah, they’re wrapped in silver or gold colored paper and foil, but it’s chocolate on the inside. But between them and pear trees, considering what’s coming, yeah I agree.
    You can never have too many of them.
    But skip the gold coins. Balmer chocolate is too waxy and tastes gross.
    “aaaah! The stock market’s crashing! Get me another silver bar! (munch munch munch)”

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