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    Daily Digest 5/8 – Gold Fixing Lawsuits Begin, Development in the Ecological Age

    by DailyDigest

    Thursday, May 8, 2014, 2:58 PM


Sen. Introduces Bill To Test Out Taxing Motorists For Every Mile They Drive (cmartenson)

“I bought a hybrid…one, because of my drive. I’m very opposed. I drive to Brentwood every day from Burbank, and I am already paying more than I should be,” Carmen Smith said.

“So if we go on vacation and I drive up to Mammoth, that’s 600 miles. We’re being taxed on vacations?” Kim Robinson said.

Gold Fixing Lawsuits Begin In New York (pinecarr)

Trading was thin in the gold markets yesterday due to the holiday in London but the escalating tension in Ukraine continued to support the gold price, allowing it to rise as high as $1,315/oz. Resistance is seen around $1,320/oz, and gold is currently trading near $1,310/oz.

Why Are We Entering the Cold War Again? (HughK)

A few weeks later, Bush announced that the U.S. was withdrawing from the Anti-Ballistic Missile Treaty, so that it could build a system in Eastern Europe to protect the members of the North Atlantic Treaty Organisation (NATO) from Iran – a move that was seen as directed against Russia in reality, to Putin’s dismay.

This was followed by Bush’s 2002 invitation to seven nations from the extinct Soviet Union (including Estonia, Lithuania and Latvia) to join NATO (which they did in 2004).

Silver, Gold, and (Not Paying) Taxes (June C.)

Where is the (supposed) capital gain? The gold-holder is not able to buy more and more suits of clothing over time with his one ounce coin – not even over a span of thousands of years. Gold and silver preserve wealth, they don’t magically conjure new wealth.

Even if some precious metals novice did acquire legal tender gold and silver coins with the thought that this was some “get rich quick scheme”, the only possible way that such a holder of gold/silver could be exposed to any capital gains taxation would be if the gold/silver appreciated in value (versus other assets), because it was previously undervalued.

Gold – Fertile Ground for Sarcastic Analysis (GE Christenson)

The “land of milk and honey” is just “over the hill.” Good times are coming again. The politicians on several continents have told us so, and they have a long track record of accountability and veracity. The more we trust politicians the more we know gold prices will fall.

John Mauldin’s Knock on the Side of the Head to World Leaders (Kevinoman0211)

“What’s driving the market is sentiment, the story. What’s driving it is trust in the central bank. I’ve been writing for years that if there is a bubble, it’s the bubble in the belief that the Federal Reserve can actually control things, that it is actually in charge and that the markets themselves don’t have to do anything but just follow the path of the Fed. That’s a lesson that always ends in tears. Central banks and policymakers can’t control things. When valuations get stretched too far, they snap back.”

The End Of An Oil Boom Is Threatening Norway’s Welfare Model (Adam)

“In Norway, job security seems to be taken for granted, almost like it’s a human right to have a job,” says Hans Petter Havdal, CEO of car-parts maker Kongsberg Automotive.

Kongsberg Automotive has only 5 percent of its workers left in Norway, having moved jobs to places like Mexico, China and the United States, and keeping only high-tech, automated functions at home. It says it is struggling with high labor costs and even problems such as excessive sick leave.

China Sends Oil Rig To Disputed Waters (James S.)

The move may also be a response to U.S. President Barack Obama’s recent trip to Southeast Asia, which included a deal with the Philippines to allow for a greater American troop presence in the region. The U.S. and the Philippines kicked off a two-week long military exercise on May 5.

Climate Change: The Bigger Picture (RoseHip)

One thing that war, money, and religion all offer is the simplification of complex problems. In the case of war, there is an identifiable enemy – the source of all evil – and the solution is simple: to overcome that enemy by any means necessary. In the case of money, it invites the subsumption of a multitude of values into a single standard of value; money becomes the universal means to all good things, and therefore the pursuit of it becomes a universal end in itself – if only we had enough money, all our problems would be solved. In religion too, one thing becomes the key to everything.

Development in the Ecological Age (RoseHip)

No disembodied ideological construct, development is rooted in deeper, less visible ideologies and cannot be rejected without disrupting these as well. A deep critique of development quickly leads to territory so radical as to make the critic sound like a half-wit who has never considered ‘the benefits of education’ or ‘the benefits of modern medicine’ or ‘the progress we’ve made in alleviating poverty and feeding the hungry.’ In fact, development is wedded to deep assumptions that we take for granted about human nature, the nature of reality and the nature of existence itself. It is, in other words, an integral part of the defining mythology of our civilization.

A New Take on Sustainable Aquaculture With An Interesting Species Choice (Chris M.)

I’m not a biologist, but something causes this color difference. Maybe it’s the diet, maybe the confinement or maybe it’s some combination of factors, but the point is that the trout raised in a fish farm exhibit noticeable differences from their naturally raised counterparts.

So, all that simply to say that fish raised in large nets in the open ocean – where the fish eat natural foods and swim in a natural environment – are not prone to the same physical changes that affect fish raised in a traditional aquaculture farm.

Gold & Silver

Click to read the PM Daily Market Commentary: 5/7/14

Provided daily by the Peak Prosperity Gold & Silver Group

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