Daily Digest

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Daily Digest 7/28 - How The Fed Manipulates Financial Spreads, FL Sewage Spills Breed 'Superbugs'

Thursday, July 28, 2016, 7:05 AM


Spread Thin: How The Fed Manipulates Financial Spreads (Alex)

Treasuries have a higher risk premium than cash because they’re subject to duration and inflation risks. This higher risk premium is what compels investors to exchange dollars for treasuries. The same goes for corporate debt, high-yield, real estate, and equities. The larger the spread between assets, the more investors are compensated for assuming greater risk (ie, selling bonds to buy equities).

‘Impending gold production cliff’ may deliver a jolt to prices (lambertad)

Shares of mining companies have well outpaced gains for gold prices. Year to date, the Philadelphia Gold and Silver Index XAU, +4.46% trades about 127% higher and the NYSE Arca Gold Bugs Index HUI, +4.68% has gained nearly 130%. The VanEck Vectors Gold Miners exchange-traded fund GDX, +4.56% has about doubled for the year so far.

M&A will “drive valuations higher,” the Sprott gold team said. “There is a scarcity value in gold that is increasing.”

Ronald Stoeferle: Central Banks In Lose-Lose Situation (Taki T.)

Central banks still have several options for further monetary easing. For instance, they could cut rates deeper into negative territory. However, to create an environment in which banks could pass on negative rates to their customers’ savings accounts, cash would have to be abolished first, in order to avoid bank runs. We are already seeing signs of such intentions. But I cannot imagine these brutal measures being implemented, without stirring up even more unrest, in times when anti-establishment sentiment is already spreading. Moreover, negative interest rates have already been introduced in five currency areas with hardly any positive impacts on growth and inflation.

The future of 'Made in China': Industrial robots replacing dwindling workforce (Uncletommy)

The industrial robots might also solve a growing problem: China's dwindling supply of cheap, low-skilled labour. For three decades, that was the magic ingredient that pushed this economy to become the second biggest in the world. Millions of labourers left the countryside and flooded the industrial cities, lifting themselves out of poverty and their children into the middle class.

But now, there aren't enough of those children. The population is aging. The so-called demographic dividend is fading.

Deutsche Bank profits plummet 98%, CEO warns of further cuts (lambertad)

Deutsche has been trying to reassure investors it can boost its capital levels and pay coupons on some debt securities. However, the bank failed to sell a stake in China’s Huaxia Bank in the second quarter, a crucial deal in its sale of assets.

The bank intends to complete the sale in the second half of the year, adding about 40 basis points to the capital ratio, the company statement said.

Interview with Wikileaks’ Julian Assange – Hillary Clinton Expands the Overton Window of Corruption (reflector)

The other day, Julian Assange sat down with Democracy Now to discuss Wikileaks’ recent release of the DNC leak emails. It’s a very interesting and worthwhile 15 minute interview.

Negative Rates: We're Going To Need A Bigger Vault (Tiffany D.)

Thanks to Japan’s radical Abenomics stimulus efforts, Japan’s central bank buys up most of the government-issued debt anyway. In 2013, the central bank owned less than 15% of Japan’s government bonds. Today, it’s more than 30% … and rising.

And with interest rates (and bond yields) in negative territory, who in their right mind (besides those deluded central bankers) would want to buy Japanese government debt anyway? For financial institutions like Bank of Tokyo-Mitsubishi, why bother with staffing a bond desk to begin with?

Doug Casey on President Hillary Clinton… World War III… and the Deep State (reflector)

Will Hillary Clinton win in November and ensure the Deep State stays in control?

I recently sat down with Casey Research founder Doug Casey to discuss this. Doug is a former classmate of Bill Clinton and has met him several times, including once at the White House.

Common pesticide kills up to 40% of sperm in bees, possibly leading to shrinking population – study (Arthur Robey)

“This could have severe consequences for colony fitness, as well as reduce overall genetic variation within honeybee populations,” the scientists concluded.

The female bees, however, didn’t demonstrate any changes in fertility, the study added.

More toxic chemicals allowed in Florida waterways (Michael W.)

But the proposal, based on a one-of-a-kind scientific method developed by the Florida Department of Environmental Protection and nicknamed “Monte Carlo,” is being vigorously criticized by environmental groups. They warn that the new standard would allow polluters to dump dangerous amounts of chemicals in high concentrations into Florida waters before they trigger the limits of the new rule, and let Florida adhere to standards that are weaker than federal guidelines.

USF study: Sewage spills breed 'superbugs' that could undermine last-resort antibiotic (Michael W.)

"Most VRE are confined to hospitals, but detecting them in waters of the Tampa Bay community is quite concerning," study co-author Valerie Harwood, PhD, a professor in the department of integrative biology at USF, said in a news release. "People need to be aware of what may be entering the water after heavy rains, accidental spills, or after intentional sewage releases."

The researchers found that high levels of VRE and vanA genes lasted in the environment for about two weeks after the spill, then diminished steadily.

Gold & Silver

Click to read the PM Daily Market Commentary: 7/27/16

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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Citi sees 'gradual shift towards helicopter money'

Citi sees 'gradual shift towards helicopter money'

CNBC-7 hours ago
Citi has forecast a "gradual shift towards helicopter money" by advanced economies, as countries struggle to boost growth and inflation in uncertain geopolitical ...

Japanese 'Helicopter Money' Prospect Has Yen Traders On Edge

Wall Street Journal - ‎18 hours ago‎
Trading has been whipsawed this week by conflicting reports about Japan's plans, including talk that Japan is considering an arrangement viewed by many analysts as akin to “helicopter money," an unprecedented stimulus in which the central bank buys ...

'Helicopter money' might weaken currencies more than QE as sky's the limit

Reuters - ‎4 hours ago‎
As the country gears up for yet more stimulus, financial market speculation has swirled that the Bank of Japan may now go one step further and, by introducing direct funding of government with newly-minted notes, cross into the realm of 'helicopter money'.

Abe Proposes $265B Stimulus Ahead of BOJ Decision

Yahoo Finance UK-14 hours ago

July 28 -- Japanese Prime Minister Shinzo Abe has announced plans for a massive $265B of economic stimulus, but, he hasn't revealed everything. There is no .

It's official: Japan's debt mountain too high

Nikkei Asian Review-10 hours ago
It does not take into account debt servicing. The latest estimate is down 1 trillion yen from the previous projection, made in January. The decline is largely due to ...

Households on the Hook for Italy's Next Bailout

Bloomberg - ‎9 hours ago‎
Still, Italian savers held 31 billion euros of subordinated bank bonds as of October, more than double the 13 billion euros in the hands of foreign investors, according to the Bank of Italy. That translates to about 1,260 euros of the junior bank debt ...

Oil Price Rout Casts Shadow Over Earnings in Energy Sector

Wall Street Journal - ‎42 minutes ago‎
Shell's debt has also ballooned to worrying levels following the BG acquisition, analysts said. Its net debt as of June 30 was $75.1 billion, compared with $25.96 billion in the same period a year earlier. Gearing, a measure of a company's debt-to ...

Pemex Cash Injection Vanishes Into Mexican Drivers' Pockets

Bloomberg-15 hours ago
While this helps Mexican drivers, it deepens the hole Pemex is in, with debt nearing $100 billion and an 11-year drop in crude production. In a nod to global ...

BRIEF-Moody's says possibility of Atlantic City default increases ...

Reuters-2 hours ago
Possibility of atlantic city default increases without state loan or temporary ... takes emergency action, city will struggle to make $3.4 million debt service payment.

TD's $230 Billion Man Goes Maximum Gold as Volatility Mounts

Bloomberg-47 minutes ago
Although TD doesn't expect deflation in Canada, high debt levels, disruptive technologies like Uber and AirBnB and China's inability to reign in oversupply are ...

Virgin Islands Echoes Puerto Rico as Utility's Bonds Cut to Junk

Bloomberg-20 hours ago
"The downgrade reflects weakened debt service coverage and liquidity, due in part to delayed payments on government-related accounts," said S&P credit ...

Fitch: China Banks Face Multi-Year Resolution of Problem Credit

Reuters - ‎12 hours ago‎
Fitch believes the Chinese authorities will continue to allow credit to drive growth and prefer to restructure debt rather than allow mass defaults, regardless of the size of problem credit in the economy. Bad debt may be socialised and other tools ...
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Luke Moffat
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In similar vein to Catherine Austin Fitts' views on entrainment I give you - Neuro-marketing!

The science goes that Oxytocin acts as a neuro-transmitter and makes the subject more susceptible to your ideas. Furthermore, if you can heighten Oxytocin levels in people whilst advertising products to them they are more likely to buy your product. The actual field is called Neuro-marketing

Relevant section starts at 1:02:39


Yoxa's picture
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Posts: 306
Neuromarketing + Roger Dooley

 The actual field is called Neuro-marketing 

Roger Dooley is a friend of mine from another forum. A few years ago I was a guest in his home for almost a week while attending a conference in his city.

He's a great guy with lots of thought-provoking ideas. His books / podcasts are a good read / listen if you're interested in marketing.

Here's Roger Dooley's Amazon page.

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World's Biggest Pension Fund Loses $51 Billion in Stock Rout

World's Biggest Pension Fund Loses $51 Billion in Stock Rout

Bloomberg-4 hours ago
The only asset class to post a profit was local debt, which jumped in value as the Bank of Japan's adoption of negative interest rates sent yields tumbling.

Japan's GPIF Pension Fund Suffers Worst Year Since 2008 ...
Wall Street Journal-6 hours ago

Bank of Japan OKs more stimulus, keeps rate steady

MarketWatch - ‎8 hours ago‎
TOKYO — The Bank of Japan announced an extra dose of monetary stimulus Friday, joining fresh efforts by Prime Minister Shinzo Abe to reboot the economy. The central bank said it would buy ¥6 trillion worth of exchange-traded funds annually, up from ¥3 ...

Japan stimulus package includes $130 billion yen in 'fiscal ...

Reuters-7 hours ago
TOKYO Japanese Prime Minister Shinzo Abe's promised economic stimulus package will include 13.5 trillion yen ($130 billion) in "fiscal measures," both direct ...

Companies have a $10 trillion bill that is coming due

CNBC-18 hours ago
The corporate debt pile is continuing to pile up, with a $10 trillion bill coming due over ... That's how much of the $51 trillion in global company IOUs is maturing ...

Deutsche Bank: Not Even Fiscal Stimulus Will Save Global Growth

Bloomberg-21 hours ago
While monetary policy may be at — or beyond — the limits of its usefulness in stoking global growth, economists at Deutsche Bank AG say fiscal stimulus is ...


Russia will seek Ukraine foreign assets freeze if $3bn debt not repaid

RT-1 hour ago

He stressed that Ukraine had better repay its sovereign debt. Earlier this year, Russia filed a lawsuit against Ukraine in the High Court in London to recover the .

States, Cities Mount U.S. Election-Year Push for Infrastructure

Bloomberg-3 hours ago
U.S. spending is projected to fall about $1.4 trillion short of the $3.3 trillion ... the interest on about $188 billion of state and local debt, the program lapsed in ...

Shell's Debt Nears Edge of Comfort Zone as Rout Boosts Borrowing

Bloomberg-19 hours ago

Net debt increased to a record $75 billion at the end of June from $70 billion three months earlier, Shell said Thursday as it reported a slump in second-quarter ..

Faltering Oil Rally Boosts Leveraged Loan Defaults, Fitch Says

Bloomberg-17 hours ago
... are unable to make interest payments on their debt, Fitch Ratings said. The companies will likely be forced to default on the loans in August, according to Fitch, ...

Puerto Rico Fiscal 2016 Revenue Comes In Short at $9.7 Billion

Bloomberg-12 hours ago
Puerto Rico collected $9.7 billion of general-fund revenue in fiscal 2016, ... that went to repay debt, called Cofina bonds, that are backed by the revenue stream.

Brazil Registers Worst 6-Month P…

The Rio Times-1 hour ago
The Treasury Department forecasts a R$149 billion deficit for social security for the year of 2016, almost double of what it was in 2015, when it registered a deficit ...

Pemex Losses Accumulate as Oil Production Hits Record Low

Bloomberg-16 hours ago
The second-quarter deficit narrowed to 83.5 billion pesos ($4.42 billion), from 84.6 billion pesos during the same period a year earlier, according to a filing sent ...

Energy junk bonds under pressure from sliding oil price

Financial Times-20 hours ago
Junk debt weakness has spread beyond the energy space, with the broad ... in junk territory to default by March 2017, roughly triple the level two years before.

US preliminary Q2 gross domestic product at 1.2% vs 2.6% expected

CNBC-27 minutes ago
Inventory accumulation by businesses fell $8.1 billion in the second quarter, the first ... exports rose in the second quarter, helping to narrow the trade deficit.

Atlantic City to receive $74 million emergency bridge loan

Press of Atlantic City-15 hours ago
... receive an emergency $74 million bridge loan from the state to avoid default, ... its payroll on Friday and its debt payment on Monday, according to Guardian.

Portuguese Banks May be Brewing a Perfect Storm

Wall Street Journal-Jul 28, 2016
The Portuguese central bank said total loans at risk of default stood at 12.2% as of ... and because it will be the state pumping in that money, the country's debt, ...

Group warns of more property tax hikes for teacher pensions

Chicago Sun-Times-17 hours ago

After evaluating data on 25,000 pension recipients, Taxpayers United of America ... Teachers Pension Fund with more than $10 billion in unfunded liabilities and ..

California's ignored pension crisis is only getting worse

Sacramento Bee-14 hours ago
Back then, CalPERS had a surplus and was able to persuade lawmakers that state pension costs would not increase for a decade because the benefits would ...


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Bankers Slave
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Posts: 523
4 minute expose of Michelle Obama

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Posts: 2888
Ali Kurnaz

Meet Ali Kurnaz, young Democratic leader who lifted Palestinian flag on convention floor (Mondoweiss)


For  those who care about Palestine, the most exciting moment of the Democratic convention took place Monday when a young delegate jumped on to his chair on the convention floor and unfurled the Palestinian flag. He was soon surrounded by a crowd holding up Hillary Clinton signs to make his demonstration disappear. But the incident quickly went out on social media — “a very human moment in a very dark time,” as Laila Abdelaziz put  it.

The man who raised the flag says that he was abused and knocked around by older delegates, but many young Democrats cheered him on.

“This issue is being brought to the forefront of the Democratic Party,” Ali Kurnaz, a Sanders delegate, said yesterday. “I believe that now, largely thanks to Bernie Sanders including it in his campaign platform people are starting to understand the issue for the first time. While others are coming out of the woodwork in support.”

Bankers Slave's picture
Bankers Slave
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Posts: 523
Ita all in the lyrics

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Posts: 656
David Icke and Michelle

I've read many of David's books and he frequently does excellent research.  Yet, on the otherhand, he also stretches his opinion too far for me. I'd like to see if that is all there is to it or not? Cherry picking again?? Are there researchers out there who have investigated his claims about Michelle?

In the 2nd chp of his first main book, The Biggest Secret, he talks about the shape shifting of the royal English family, along the lines of the reptilian lineage and how they CONTROL most of history. His Reptilian Agenda spells out in even more detail this blood-line of the Anunnaki from the !2th Planet by Sitchin, and so forth.

A true conspiracy researcher with a large following as shown in his Children of the Matrix: How an Interdimensional race has Controlled the World for Thousands of years.

I'm surprised that he didn't mention that Michelle might be also involved in this grand project.  How biased might he be? Or, are there FACTS to back up his claims.

David: send your video to Michelle for comments!!  Looks like it will get REALLY nasty now.

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