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    Daily Digest 6/24 – From Barrels To Biology, Auf Wiedersehen To German Gold

    by DailyDigest

    Tuesday, June 24, 2014, 2:26 PM


IMF Frets About Giant Sucking Sound Of Hot Money, Wants To Take Over Global Monetary Policy (June C.)

Now the country is deeper in debt than before. More “structural reforms” are likely to be inflicted on the people, though the IMF is under withering fire. Spokesman Gerry Rice tried to put a positive spin on it when he said on Friday that the IMF supported the government’s “desire to avoid across-the-board cuts in wages and pensions.” But there will be more cuts – instead of making bondholders eat the losses. He conceded some IMF missteps but… “There is no apology in what I said,” he said.

Germany's Gold: Auf Wiedersehen (June C.)

Especially the headline is plainly false, because there has not been any change in BuBa´s (too slow) repatriation plans: at least 300+ tonnes will come from NY by end 2020. It is not much – but contrary to the headline, BuBa has NOT stopped the ongoing partial repatriation – enforced solely by public pressure! (I would check your pressure readings mein herr. Buba seems to be a bit less concerned than one might imagine. Never underestimate the official indifference of a German bureaucrat to popular opinion.)

Gold Price Relative To Monetary Base At All-Time Low (Taki T.)

The significant bubble in paper assets relative to hard assets is illustrated in the next chart. In spite of substantial volatility, global financial wealth has doubled since 2000 alone. The growth stems primarily from the bond markets. Between 2000 and 2013, the value of outstanding debt securities has almost tripled (from USD 33 trillion to USD 100 trillion). Over the same period, the total capitalization of stock markets has increased by a mere 35% (from USD 49 trillion to USD 66 trillion). The share of gold can also be seen. While it has grown considerably since 2000, it nevertheless remains at an extremely low level.

Buying Up the Planet: Out-of-control Central Banks on a Corporate Buying Spree (June C.)

What is to stop a foreign bank from simply printing its own currency and trading it on the currency market for dollars, to be invested in the US stock market or US real estate market? What is to stop central banks from printing up money competitively, in a mad rush to own the world’s largest companies?

What Crude Oil Says about Silver (Taki T.)

Crude oil prices have many reasons to explode higher and few to drop lower. The trend has been up for more than a decade. Central banks will print, politicians will instigate more wars and invasions, and each euro, yen, and dollar will purchase even less crude oil and gasoline. It is business as usual, but with an extra dollop of chaos, war, and price inflation tossed into the mix…

ISIS: Is It All About The Oil? (James S.)

The Islamic State of Iraq and Syria (ISIS) – the radical Islamist group in control of large swaths of the two countries from which it takes its name — has released a map on its web site projecting where it wants to be just five years from now. If it manages to achieve just a fraction of what its intentions are, there is much to worry about.

From barrels to biology: Scientists develop cost-competitive bioderived polymers for a post-petroleum future (Wendy SD)

Recently, scientists at the University of Minnesota, Minneapolis, used a biosynthetic approach to combine two factors key to biobased polymers displacing petroleum-based polymers: efficient bioproduction of the branched lactone biomolecule β-methyl-δ-valerolactone (βMδVL) and controlled polymerization. This enabled them to produce economically competitive block polymers … having mechanical properties similar to those of today's plastics, including thermoplastic elastomers with properties similar to commercially available styrenic (that is, styrene-based) block polymers.

Nearly Half Of Detroit Water Customers Can’t Pay Their Bill (June C.)

Posted Kathy Ward, “This is just insane. If someone is that destitute that they truly cannot afford their water bill, there are already welfare programs in place for that. I’m guessing those same people not paying their water also have a TV, cable, I-phone, etc. People need to get their priorities straight, not expect another government handout.”

Gold & Silver

Click to read the PM Daily Market Commentary: 6/23/14

Provided daily by the Peak Prosperity Gold & Silver Group

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