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    Daily Digest 5/30 – Fading Confidence In Central Banking, China’s Shale Industry Picks Up

    by DailyDigest

    Friday, May 30, 2014, 2:26 PM

Economy

Meet Directive 3025.18 Granting Obama Authority To Use Military Force Against Civilians (Time2Help)

A U.S. official said the Obama administration considered but rejected deploying military force under the directive during the recent standoff with Nevada rancher Cliven Bundy and his armed supporters.

“Federal action, including the use of federal military forces, is authorized when necessary to protect the federal property or functions,” the directive states.

Military assistance can include loans of arms, ammunition, vessels and aircraft. The directive states clearly that it is for engaging civilians during times of unrest.

SRC refuses to pass budget with 'unacceptable' cuts (June C.)

Green said he did not want to adopt a budget and "give anyone the impression that the cuts it contains are feasible or acceptable." Instead, "we will continue to focus our energy and attention on securing the needed funding for our schools from both the city and state."

Mayor Nutter, who had been notified of the SRC's plans, said the commission made "a very smart" move by declining to pass a budget.

A Contrary Indicator on M.B.A.’s and Stocks (jdargis)

Mr. Soifer notes that the Harvard M.B.A. indicator has historically been more prolific as a source of “sell’ signals, showing strong results in 1987, 2000-02, and 2005-08, than “buy” signals. In fact, the last time it reached the 10 percent “buy” level was in the early 1980s, when the Dow Jones industrial average traded below 1,000.

Signs Of Fading Confidence In The Central Banking Premise (Taki T.)

What about the request from Austria to audit their gold held at the Bank of England? Would such a request occur if confidence in central banks was solid and unshakable? Is there good reason to question that the Austrian gold is actually in the vaults? Or has it been shipped to Switzerland, melted down, and sold to China? We may never know but such unanswered speculation does not inspire confidence.

The unwillingness of central banks and governments to audit the physical gold bars and publish the results also does not inspire confidence. Inquiring minds ask “why?”

New Perella Weinberg CEO Robert Steel's Securities Fraud and Insider Trading at Wachovia (George H.)

On July 22, 2008, Mr. Steel personally purchased 1,000,000 shares of Wachovia’s stock as the company’s undisclosed Federal Reserve Term Auction Facility (TAF) borrowing reached $12.5 billion, terms of which which were not disclosed in Wachovia's securities filings audited by KPMG.

Steel bought Wachovia’s stock while in possession of material, nonpublic insider information and violated Sarbanes-Oxley laws, while not informing financial advisers acting as fiduciaries for accounts governed by the Investment Advisors Act of 1940 under his supervision.

Rickards: Why the crash is coming quicker than I expected (Herman J.)

“Russia is a major natural resource exporter; they price their exports in dollars as well. But Russia now is engaged in a financial war with the US around the issues in Crimea and Ukraine.”

China’s Emerging Shale Industry Picks Up Speed (James S.)

Although serious obstacles remain, China is finally making progress on tapping its vast shale gas reserves, which hold the promise of a new source of clean energy for the coal smoke-choked country. According to the U.S. Energy Information Administration, China holds the world’s largest reserves of technically recoverable shale gas in the world, 1,115 trillion cubic feet. That’s about 68 percent more than what the U.S. holds.

Your T-Shirt determines your levels of resilience (Jim R.)

Knowing that the victim T shirt exists, you know are able to catch yourself wearing it. It is easy to slip in this T shirt, when fatigue, burnout and repetition of negatives keep battering us in life. Remember that rest and recuperation is your most efficient weapon against fatigue, burnout and lack of creativity. It’s OK to grieve, and take time out when bad things happen to you, we need time to grieve to process events and get closure. These time outs of course are temporary and need to be taken in relation to the event. A family loss, job loss, a divorce, loosing your pen, a colleague trying to back-stab you are all different negative events that need different ways of being processed internally.

Gold & Silver

Click to read the PM Daily Market Commentary: 5/29/14

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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