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    Daily Digest 6/2 – Opportunity’s Knocks, Drought Is Boon For CA Gold Prospectors

    by DailyDigest

    Monday, June 2, 2014, 3:00 PM


Opporturnity’s Knocks (jdargis)

“A NEW CAREER and a NEW YOU in just 75 classroom hours,” a brochure for the nursing aide class had promised, and it was transformation she was after.

She grabbed her textbook and walked toward the career center, a concrete building set amidst the rolling farmland of Marietta. It was the oldest city in the state, 15,000 people pressed against the Ohio River, and its survival had always depended on reinvention: from agriculture to coal, from manufacturing to service industries. Now, two-thirds of the region’s available jobs related to health care, and Tereza walked into a classroom cluttered with wheelchairs, portable toilets and hospital beds. There were seven other people in the room – all starting over in the tenuous, low-wage recovery of 2014, in which job retraining was no longer a qualification but a prerequisite, and careers were chosen based not on preference but on prescriptions of economic need.

A cat burglar in the house (jdargis)

In 2012, a Tarrant County jury sentenced David Cooper to three months in jail, 10 years probation and a $10,000 fine for theft and burglary after he occupied a vacant Arlington house and claimed it under adverse possession. Earlier in 2012, Kenneth Robinson invoked adverse possession to seize a $340,000 bank-foreclosed house in Flower Mound. A judge rejected his claim and ordered him to leave.

Unless Fonteno’s clients were well-schooled in the verbose, complicated legal terms in his organization’s sales contracts, it’s unlikely they knew they were agreeing to pay mortgages on houses that belonged to someone else.

Scots Are Divided Over Independence, and Its Economic Costs (jdargis)

Plenty, in the minds of many business leaders and economists, who are concerned that an independent Scotland will not have the financial strength to prosper alone. The economy would lean heavily on revenue from North Sea oil, which has been falling, and its per capita government spending outpaces the rest of Britain.

U.S. set to unveil rules to cut carbon pollution from power plants by 30% (jdargis)

Obama had initially sought to deal with climate change through Congress. But after that effort collapse, and with Republicans in Congress uniformly opposed to cutting carbon emissions – or even denying climate change was occuring – Obama decided last year to use his executive authority to cut carbon pollution.

The White House and the EPA would not comment on the report.

Unveiling New Carbon Plan, E.P.A. Focuses on Flexibility (jdargis)

Under the rule, states will be given a wide menu of policy options to achieve the pollution cuts. Rather than immediately shutting down coal plants, states would be allowed to reduce emissions by making changes across their electricity systems — by installing new wind and solar generation or energy-efficiency technology, and by starting or joining state and regional “cap and trade” programs, in which states agree to cap carbon pollution and buy and sell permits to pollute.

Japan test-broadcasts super HD television technology (Arthur Robey)

“Various countries are accelerating trials and the launch of new services using (4K and 8K) technologies,” said Katsuaki Watanabe, a former Toyota president and chairman emeritus of NexTV-F, which is leading the consortium behind the test.

“Japanese industry has to survive in this severe environment,” he added.

What Happens When CSAs Go Belly Up? (jdargis)

Robert Casey, the attorney for Varisco, has stayed vague about the financial nitty-gritty, telling the Harvard Common only that “the costs were high, and the economic model didn’t work.” Court filings indicate Varisco owes $207,000 to the Farm Service Agency; his creditors also include at least 300 CSA members who are currently out more than $165,000. But members are unlikely to see any financial recourse through the court proceedings.

Drought brings California gold prospectors back to life (jdargis)

Researchers said last week that the drought has meant a loss of $1.7 billion. The toll becomes clearer each day, as water vanishes, and long-submerged highways are revealed; as farmland sits fallow and thousands of jobs are erased; as salmon eggs are left exposed to the air and the harsh sun, killing them; as sheep ranchers cull their herds early because they can’t make hay to feed them.

But for one small, proud, iconoclastic community — gold prospectors — the drought has been a boon.

Gold & Silver

Click to read the PM Daily Market Commentary: 5/30/14

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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  • Mon, Jun 02, 2014 - 3:37pm



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  • Mon, Jun 02, 2014 - 7:41pm



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    Unstoppable $100 Trillion Bond Market Renders Models Useless


    1. China explores bond buying in first hint of QE
    2. Unstoppable $100 Trillion Bond Market Renders Models Useless
    3. Va. lawmakers brace for possible $1 billion deficit
    4. N.J.'s pension crisis growing deeper
    5. Inflation Prospect Changes Japan Stock Strategies
    6. Bond Investors Wary of Yield Trap Heeding ECB Alert
    7. Local agencies face possible cuts as lawmakers put off tough decisions (Illinois)
    8. Portugal premier "deeply concerned" after court busts budget again
    9. Greece moves to calm austerity fears as Germany suggests new bailout
    10. Economists Cut View for Brazil's Economic Growth After Tepid First Quarter

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  • Tue, Jun 03, 2014 - 11:53am



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    Noam Chomsky on Snowden's Implications

    Noam Chomsky: A Surveillance State Beyond Imagination Is Being Created in One of the Freest Countries in the World

    A constitutional lawyer in the White House seems determined to demolish the foundations of our civil liberties.

    June 2, 2014

    The source… is the trove of documents about the National Security Agency surveillance system released… by Edward J. Snowden and Glenn Greenwald in his new book, "No Place to Hide."

    The documents unveil a remarkable project to expose to state scrutiny vital information about every person who falls within the grasp of the colossus – in principle, every person linked to the modern electronic society.

    It is of no slight import that the project is being executed in one of the freest countries in the world, and in radical violation of the U.S. Constitution's Bill of Rights, which protects citizens from "unreasonable searches and seizures," and guarantees the privacy of their "persons, houses, papers and effects."

    Much as government lawyers may try, there is no way to reconcile these principles with the assault on the population revealed in the Snowden documents.

    Chomsky turns to the two central questions:  1. "Who is the enemy against which the Surveillance State is designed to protect?"  2.  "Who is being protected?"

    …[T]he constitutional lawyer in the White House seems determined to demolish the foundations of our civil liberties. The principle of the presumption of innocence, which dates back to Magna Carta 800 years ago, has long been dismissed to oblivion.


    Recently The New York Times reported the "anguish" of a federal judge who had to decide whether to allow the force-feeding of a Syrian prisoner who is on a hunger strike to protest his imprisonment.

    No "anguish" was expressed over the fact that he has been held without trial for 12 years in Guantanamo, one of many victims of the leader of the Free World, who claims the right to hold prisoners without charges and to subject them to torture.


    These exposures lead us to inquire into state policy more generally and the factors that drive it. The received standard version is that the primary goal of policy is security and defense against enemies.

    The doctrine at once suggests a few questions: security for whom, and defense against which enemies?  …

    Policy must assure the security of state authority and concentrations of domestic power, defending them from a frightening enemy: the domestic population, which can become a great danger if not controlled.

    It is clear to me that the State itself is what is being protected and the enemy is the world's citizens.


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  • Tue, Jun 03, 2014 - 12:44pm

    robie robinson

    robie robinson

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    Excellent! Sand Puppy

    "It is clear to me that the State itself is what is being protected and the enemy is the world's citizens."

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  • Tue, Jun 03, 2014 - 2:05pm


    Chris Martenson

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    Sadly, you are right Sand Puppy

    And it has begun….who is the new threat?  Why "terrorists" of course.

    Once upon a time a 'terrorist' was someone who used violence, typically against innocent civilians, to achieve political aims.


    Well it's pretty much anybody, no matter the target or aims.

    Speaking of which…*sigh*

    Holder announces task force on 'homegrown' terrorists

    Jun 2, 2014

    Atty. Gen. Eric H. Holder, Jr. on Monday announced the creation of a task force within the Justice Department to combat an “escalating danger” from “homegrown” terrorists within the United States.

    The Justice Department, in a news release accompanying Holder’s weekly video address, cited a Congressional Research Service report last year that said domestic terrorists were responsible for more than two dozen incidents in the U.S. since 9/11.

    Holder, in the video, cited the Boston Marathon bombings last year and shootings at Fort Hood in 2009 and 2014 as examples of “the danger we face from these homegrown threats.”

    “But we also must concern ourselves with a different type of threat. We face an escalating danger from self-radicalized individuals within our own borders,” he said.

    “Horrific terror incidents like the tragic shootings at Fort Hood and last year’s Boston Marathon bombing demonstrate the danger we face from these homegrown threats,” Holder said in the video posted on the department’s website.

    “Now — as the nature of the threat we face evolves to include the possibility of individual radicalization via the Internet — it is critical that we return our focus to potential extremists here at home,” Holder said.

    More than two dozen incidents?  ???

    I can only think of one, possibly, which was the Boston bombings, although it resulted in the same number of deaths and casualties as one hour of automobile accidents.  Horrific as it was, statistically, it was a blip.

    But the Ft Hood shootings?  Um.  That happened on a military base, and involved a psychologically disturbed person, so I am  reticent to call that a terrorist event.  But even if we do, what other incidents are there to speak of?

    Possibly the San Jose transformer shootings, but we know nothing about who did it or why.  Sometimes people just do wacky stuff.  Maybe there were no  political aims associated with that action.

    Eric Holder is among the most loathsome of all AGs in my lifetime and that's saying a lot.  He's up against stiff competition, including Ashcroft and Meese, who I thought could not be bested in that competition.

    I despise him because he has applied the law in the least uniform way out of them all.  He protects some from prosecution for purely political reasons and pursues other for opposite reasons.  And now this.

    Mark my words, this commission will only validate further intrusions into everybody's business and lives, unless they are well connected in which case they will be given a free pass.  No investigations or intrusions into major corporations, the MI complex, or senior politicians will take place.  

    This is about tightening the screws on the thing that the state fears most.  The people.  And, I guess, the internet.


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  • Tue, Jun 03, 2014 - 4:06pm



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    On a lighter note

    Seattle council passes $15 minimum wage

    I'm sure this will have no deleterious side effects.


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  • Tue, Jun 03, 2014 - 5:27pm



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    Japan's monetary base hits record high on loose policy

    (For 6/3)


    1. World needs $48 trillion of investment by 2035 to keep the lights on says IEA
    2. Japan's monetary base hits record high on loose policy
    3. Italy gets EU's OK to postpone balancing budget
    4. Deficit of Ukraine's balance of payments in Jan-April reaches $4.5 billion
    5. Households lumbered with £1.1billion worth of energy debt after surge in prices (UK)
    6. EU Commission warns Italy, France to rein in debt
    7. Brazil Debt Suffering Social-Spend Promises With Election
    8. Junk Proves Favorite as BlackRock ETF Leads Flow of Funds
    9. Rating agency warns NJ of possible downgrade
    10. Portugal yields rise as Lisbon says austerity ruling to hit budget

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  • Tue, Jun 03, 2014 - 5:33pm

    Reply to #5


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    very well said Chris

    That's exactly what bothers me most about the current executive branch. No matter what your politics, can we tolerate such an uneven and dishonest application of the laws? And this terrorist label is increasingly absurd. Please stop using it; I don't trust Holder to uphold the constitution. E.g. Benghazi video producer is still in jail.

    A violation of probation, though, usually produces a court summons and doesn’t typically lead to more jail time unless it involves an offense that would be worth prosecuting in its own right under federal standards. Not for Nakoula.
    This wasn’t a case of nailing Al Capone on tax evasion. As Nina Shea of the Hudson Institute points out, Al Capone’s underlying offense was racketeering and gangland killings. Nakoula Basseley Nakoula’s underlying offense wasn’t an underlying offense. He exercised his First Amendment rights.


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