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    Daily Digest 6/20 – Rare ‘Strawberry Moon’ Tonight, The Ugly Underbelly Of Oil Shipping

    by DailyDigest

    Monday, June 20, 2016, 2:09 PM


E.U. Countries Warn Britain on ‘Brexit’: You’ll Pay if You Leave Us (jdargis)

The president of the European Council, Donald Tusk, spoke apocalyptically about a British exit, or “Brexit,” to the German tabloid Bild. He said all members of the European Union would suffer, as would the postwar structure of Europe that had kept the peace.

“Why is it so dangerous?” Mr. Tusk asked. “No one can foresee what the long-term consequences would be. As a historian, I fear that Brexit could be the beginning of the destruction of not only the E.U., but also of Western political civilization.”

Will The UK Write History Towards Freedom? (Taki T.)

When it comes to economic self-governance, Cameron got an explicit recognition that the Euro is not the single currency of the EU, and that the UK will not be pressured to contribute to the Eurozone bailouts. But what about the British economy itself? British businesses have long complained about losing competitiveness. In general, the EU single market makes it easier to move money and products and grants business a large consumer base. However, the data released by the Office for National Statistics casts a different light on this point: Europe has become a less important trading partner. In 2000, the EU represented 60% of the UK’s total exports. As of April 2016, this number has dropped to 48%. Meanwhile, imports from the EU have been within the range of 47% to 55% since end-2014, and are thereby contributing to a growing trade deficit.

The Case For Free Money (jdargis)

One striking thing about guaranteeing a basic income is that it’s always had support both on the left and on the right—albeit for different reasons. Martin Luther King embraced the idea, but so did the right-wing economist Milton Friedman, while the Nixon Administration even tried to get a basic-income guarantee through Congress. These days, among younger thinkers on the left, the U.B.I. is seen as a means to ending poverty, combatting rising inequality, and liberating workers from the burden of crappy jobs. For thinkers on the right, the U.B.I. seems like a simpler, and more libertarian, alternative to the thicket of anti-poverty and social-welfare programs.

Senate to vote on gun bills which are unlikely to pass (jdargis)

Connecticut Senator Chris Murphy, a Democrat, held the floor on Wednesday night in a "filibuster," a tactic that enables lawmakers to block proceedings.

The filibuster came to an end when Republicans eventually pledged to hold votes on measures for expanding background checks and preventing people on terrorism watch lists to obtain guns.

Will Gold’s Bullish Price Chart Outperform Gold’s 5 Bearish Indicators? (Taki T.)

The two indicators that we consider most concerning are the Commitment of Traders (COT) data for both gold and silver. We have explained many times how we interpret the COT data: the faster the net short positions of commercials (hedgers) grow, to an extreme level, the more bearish the outlook for prices. Both gold and silver sax an extremely fast run up between January and March of 2016. That is very bearish. Chart courtesy: Sharelynx.

How the Lowly Mosquito Helped America Win Independence (jdargis)

Even the U.S. owes its independence in part to mosquitoes and malaria. In 1780, the southern colonies, a region with widespread malaria, became a decisive theater in the American Revolution. British troops had almost no experience with malaria, and thus no resistance to it. American militiamen and much of the Continental Army, had grown up in the South and faced malaria every summer of their lives. So in the summer of 1780, the British Army hosted its own malaria epidemic, which was particularly intense in the South Carolina low country. At times, half the British Army was too sick to move. No one knew that mosquitoes carried malaria, and the British did not have the means to combat it.

Slavery At Sea: The Ugly Underbelly Of Oil Shipping (Josh O.)

If you think slavery doesn’t exist anymore—think again. According to the International Labor Organization (ILO), almost 21 million people are victims of forced labor today. Of those, nearly 19 million are exploited by private individuals or enterprises, compared to slightly over 2 million who are exploited by the state or rebel groups.

This Year’s Summer Solstice Comes With a Rare Strawberry Moon (jdargis)

It’s a visually striking celestial moment that happens about once a generation. Because it is so unusual, the Farmer’s Almanac will join with Slooh, an online network of robotic telescopes, to live-stream the June solstice full moon, complete with commentary from Berman and Slooh staff astronomer Paul Cox. You can watch on YouTube once the stream begins Monday night.

Gold & Silver

Click to read the PM Daily Market Commentary: 6/17/16

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 20, 2016 - 3:18pm



    Status Silver Member (Offline)

    Joined: Jul 30 2009

    Posts: 2935

    IMF Advises Japan to Adopt Wage Hike Policy to Achieve Inflation

    IMF urges Japan to 'reload' Abenomics

    Financial Times – ‎4 hours ago‎
    The fund's comments show that even with negative interest rates and the postponement of a planned rise in consumption tax, it believes Japan is still not on course to escape from its decades of on-and-off deflation. “We favour strengthening the

    IMF Advises Japan to Adopt Wage Hike Policy to Achieve Inflation Target – ‎5 hours ago‎
    The organization said that while recent government policies – comprised mainly of monetary and fiscal policies such as the negative interest rate, adoption of a fiscal stimulus, and the postponement of the scheduled 2017 sales tax hike – were likely to

    ECB corporate debt buys unexpectedly high in first full

    Reuters46 minutes ago
    Unveiled in March as part of a 1.74 trillion euro asset-buying plan, the ECB started … the ECB bought 348 million euros worth of corporate debt, an unexpectedly …

    Nigeria's naira plunges 30pc after central bank gives up on dollar peg – ‎3 hours ago‎
    Nigeria's naira lost nearly a third of its value overnight, after policymakers decided to scrap the currency's peg against the US dollar. The Central Bank of Nigeria had defended a peg of 197 to 199 naira to the US dollar for 15 months, but gave up on

    Nigerian naira devalues 23 percent after currency peg ends

    Reuters5 hours ago
    The naira traded at 255 against the dollar on Monday, weakening from the 197 peg maintained by the central bank for the last 16 months. (Reporting by Chijioke …

    Pimco Says 'Storm Is Brewing' in U.S. Commercial Real Estate

    Bloomberg45 minutes ago
    Additionally, a wave of maturing debt from the last decade's boom starts coming … The Newport Beach, California-based firm, with $1.5 trillion in assets under …

    China seeks to renegotiate Venezuela loans

    Financial Times – ‎22 hours ago‎
    Fears that Venezuela might default on its internationally-traded debt continue to rattle markets, where its bonds trade at distressed prices. The benchmark 2022 bond currently yields 33 per cent. Venezuela wants a grace period whereby the country would


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  • Mon, Jun 20, 2016 - 4:25pm



    Status Bronze Member (Offline)

    Joined: Oct 13 2008

    Posts: 295

    Re: IMF urges Japan to 'reload' Abenomics

    "IMF urges Japan to 'reload' Abenomics"

    Ha! IMF tells Developing World to reduce debt exposure, and telling Japan int increase Debt. Japan is screwed. All they can do is postpone a financial crisis that will spread to the rest of the developed world. IMF wants to delay it for as long as possible, partially on the backs of the Japanese.



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  • Mon, Jun 20, 2016 - 9:19pm


    Taz Alloway

    Status Bronze Member (Offline)

    Joined: Feb 18 2010

    Posts: 461

    Oil bust leaves states with massive well cleanup

    As U.S. rig counts plunge to historic lows, and with at least 60 oil producers declaring bankruptcy since 2014, energy-producing states are confronting both holes in their budgets and potentially leaking ones in the ground. In Texas alone, the roughly $165 million price tag of plugging nearly 10,000 abandoned wells is double the entire budget of the agency that regulates the industry.

    The problem is forcing states to get creative: Texas regulators now want taxpayers to cover more of the clean-up, supplementing industry payments.


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  • Tue, Jun 21, 2016 - 3:24am



    Status Bronze Member (Offline)

    Joined: May 03 2014

    Posts: 515

    Strawberry moon - Indeed!

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