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    Daily Digest 12/8 – Money vs. Fiat, Mountain Ambush

    by DailyDigest

    Tuesday, December 8, 2015, 3:56 PM


Iranian broadcaster raises suspicions about death of reporter on Syrian border (richcabot)

Her death occurred the day after she broadcast an item – as shown in the clip above – in which she said the Turkish intelligence agency had threatened her and accused her of spying.

She had reported that Islamic State militants had crossed from Turkey into Syria on trucks bearing the symbols of the World Food Organisation and other NGOs.

Russia Sent T-90 Tanks to Syria (Aaron M.)

Russia has sent its most sophisticated tanks to the front line in Syria. The T-90 tanks are swaddled in explosive armor, causing most weapons used against them to detonate on impact. The rebels have been able to eliminate Syrian tanks with weapons gained from the West. The T-90 should be much more difficult for the rebels to defeat.

Mountain Ambush (Ivo M.)

The target area the Russians were interested in was about five miles south, along the road leading to this crossing. That was the target area that they assigned to these two Su-24s on the day of the shoot-down. The crews were assigned the mission at about 9:15 in the morning, Moscow time. They took off about a half hour later, headed for an area about thirty miles inland from the Mediterranean coast—in other words well east of this target area—to loiter until they got further instructions on hitting a target in the target area. At this point they’re just cruising and loitering at eighteen thousand, nineteen thousand feet, trying to conserve gas while they’re waiting to be assigned a specific target.

The Anti-Empire Report #141 (richcabot)

Does it concern you that Turkey appears to be more intent upon attacking the Kurds and the Russians than attacking ISIS? And provides medical care to wounded ISIS soldiers? Or that ISIS deals its oil on Turkish territory? Or that NATO-member Turkey has been a safe haven for terrorists from Libya, Chechnya, Qatar, and elsewhere? Or that last year Vice President Biden stated that Turkish president Erdogan’s regime was backing ISIS with “hundreds of millions of dollars and thousands of tons of weapons”?

Obama’s speech reminded Americans that the war with Isis is still illegal (richcabot)

For the past year and four months, the administration has been pretending that the 2001 Authorization for Military Force (AUMF), which made it legal to wage war against those who perpetrated the 9/11 attacks, somehow makes it OK to wage a indefinite, worldwide war against Isis. But Isis did not exist in 2001, and has been enemies with al-Qaida (the group that committed 9/11) for years. Still, the 2001 AUMF is being used to fight Isis in Iraq and Syria, despite the fact that al-Qaida was almost exclusively operational in Afghanistan when Congress first authorized military action.

CIA runs shadow war with Afghan militia implicated in civilian killings (richcabot)

This article is based on interviews with witnesses of six separate attacks by the militia in the past year, as well as court documents in the only known legal case filed against the unit, after one or more of its men shot a 14-year-old boy to death. Three former commanders of the unit, known as the KPF, tribal elders, lawmakers, lawyers, activists and local government officials with direct knowledge of the force and the CIA’s role were also interviewed.

JPMorgan Had ‘Sons And Daughters’ Hiring Program For Chinese Elite (richcabot)

The program detailed in the report reveals that JPMorgan’s corrupt hiring practices were widespread and often involved favors beyond seeking better treatment from the Chinese government. JPMorgan often hired children of companies the bank took public and did business with in Hong Kong…

Money vs. Fiat (Aaron M.)

This traditional definition of a fiat currency is primitive. A currency is backed by the productive capacity of its people like a share in a corporation. If this were not true then Germany, Japan, and China would never have been able to rise from the ashes without gold. Obviously, it was the productive ability of their people. Under Socialism, currency is also backed by the taxpayers who are shaken down to pay the interest on the debt. That is very tangible for you go to prison if you do not obey their commands.

Oil’s drop below $38 may cause a world of hurt for U.S. shale (Michael W.)

“Canada with expensive oil sands’ output, and Venezuela, are two of the biggest losers” and high-cost producers in Northern Africa, Angola, Southeast Asia, and the North Sea are also suffering, said Kloza.

But eventually, oil refiners may become the big winners.

This Is Why $20 Oil Is A Possibility (Josh O.)

The oil price has trended down this month in a saw tooth pattern to support levels and to complete the head and shoulders pattern. Friday’s close was just above the near term lows of $38.22 for WTI and $41.59 for Brent, both on August 24th. If these lows are broken traders and companies should be prepared for a plunge.

Paris Climate Negotiations Won’t Stop the Planet Burning (PBD)

But current emissions pledges already guarantee disaster. A report by the United Nations Framework Convention on Climate Change (UNFCC) released in October calculated that: “Compared with the emission levels consistent with the least-cost 2 °C scenarios, aggregate GHG emission levels resulting from the INDCs [intended nationally determined contributions] are expected to be higher by 8.7 (4.7–13.0) Gt CO2 eq (19 percent, range 10–29 percent) in 2025 and by 15.1 (11.1–21.7) Gt CO2 eq (35 per cent, range 26–59 percent) in 2030.”

Gold & Silver

Click to read the PM Daily Market Commentary: 12/7/15

Provided daily by the Peak Prosperity Gold & Silver Group

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