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Daily Digest 11/26 - Indian Currency Crashes, WI Prepares For Vote Recount

Saturday, November 26, 2016, 10:53 AM

Economy

Fidel Castro, Cuban Revolutionary Who Defied U.S., Dies at 90 (jdargis)

Fidel Castro had held on to power longer than any other living national leader except Queen Elizabeth II. He became a towering international figure whose importance in the 20th century far exceeded what might have been expected from the head of state of a Caribbean island nation of 11 million people.

Breaking News on the War on Cash: Now Spain (Aaron M.)

Currently, violence spawned by this anti-cash trend can be seen in such countries as Uruguay and India where cash banning on large bills has ignited significant social chaos already. India is in the throes of riots while Uruguay has been hit with a nationwide strike aimed in part at derailing a mandate that all employers must pay employees electronically via a bank account, starting as soon as March.

Indian Currency Crashes To Record Low As Cash Exchange Of Old Notes Suspended (reflector)

As the Rupee crashed to a record low overnight, officials announced a suspension of the exchange of 'old notes' as of tomorrow to, in their words, "encourage people to deposit old notes in their bank accounts." With as much 60% of banknotes still un-exchanged, we suspect chaos will be the operative word for the immediate future.

Those with old notes will still be allowed to deposit them into their bank accounts until Dec. 31, but not permitted to do outright exchanges.

Army Corps will close anti-DAPL protest camp at Standing Rock by Dec. 5 (lambertad)

The notice said anyone found on the Corps’ land north of the Cannonball River after December 5 “will be considered trespassing and may be subject to prosecution under federal, state, and local laws.” It also said anyone staying on the lands would do so “at their own risk, and assume any and all corresponding liabilities for their unlawful presence and occupations of such lands.”

Trump’s presidency, overseas business deals and relations with foreign governments could all become intertwined (jdargis)

Trump has done little to set boundaries between his personal and official business since winning the presidency.

He has indicated that his children may take over the business, but he has also appointed them to formal roles with his presidential transition and included daughter Ivanka on calls with world leaders. And he has continued to offer signs that he may remain engaged, at least on some level, in his private ventures.

Trump election: Wisconsin prepares for vote recount (jdargis)

In statement, the Wisconsin Elections Commission said it had received two recount petitions from the Jill Stein campaign and from Rocky Roque De La Fuente, a businessman who ran unsuccessfully to be the 2016 Democratic presidential nominee.

"The Commission is preparing to move forward with a statewide recount of votes for President of the United States, as requested by these candidates," said Wisconsin election commission administrator Michael Haas.

The Economy Needs Higher Oil Prices – Goldman Sachs (Josh O.)

These conclusions echo those from a team of IMF economists from earlier this year. In March, the IMF said that the assumed connection between oil prices and GDP (falling oil prices will boost GDP as consumers have more money in their pockets) is not as solid as previously thought. Many analysts, including those at the IMF, once assumed that although oil producing countries such as Saudi Arabia would be damaged from low oil prices, the benefits to consuming countries would more than offset those losses, delivering net benefits to the global economy.

A Blade Strikes Steel, and the Blast Shocks a Nation’s Energy System (jdargis)

Aftershocks quickly shuddered up the spine of America’s energy system. When gasoline traders realized that East Coast reserves were once again threatened, they started bidding up the price of fuel. In a matter of hours, the cost of a gasoline futures contract for December shot up 15 percent, the highest jump since the financial crisis in late 2008. Merchants scrambled to secure supplies from tankers carrying imported fuel, causing the cost of cargo freight from the Atlantic to surge more than a third, to about $17 per metric ton, according to data compiled by Bloomberg.

Gold & Silver

Click to read the PM Daily Market Commentary: 11/25/16

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."

5 Comments

Uncletommy's picture
Uncletommy
Status: Platinum Member (Offline)
Joined: May 3 2014
Posts: 635
The Economy Needs Higher Oil Prices – Goldman Sachs

Obviously, there isn't enough margin room (for anyone worth his weight in Gold), to generate enough derivative revenue to enjoy the better things in life. It really is a shame that we don't let more folks have a chance:

http://www.emolument.com/salary-reports/companies/goldman-sachs/8170

LesPhelps's picture
LesPhelps
Status: Platinum Member (Offline)
Joined: Apr 30 2009
Posts: 811
Standing Rock Rising

I grabbed this off of the Standing Rock Facebook page.  I found it highly amusing.

Nate's picture
Nate
Status: Platinum Member (Offline)
Joined: May 5 2009
Posts: 605
Jill Stein

From Armstrong's blog:

Armstrong wrote:

The Green Party presidential nominee Jill Stein officially handed in a petition Friday asking election officials in the battleground state of Wisconsin to perform a recount of its general election results, the state confirmed. She is trying to stop Trump before the Electoral College votes. Clinton has not joined her because there was not enough claims of voter fraud in those states so the Democrats are keeping their distance letting Stein carry the ball.

Yet Stein has raised nearly $5 million, but has cleverly made it clear there are no guarantees and she will keep the money. Her website says:

We cannot guarantee a recount will happen in any of these states we are targeting. We can only pledge we will demand recounts in those states.

If we raise more than what’s needed, the surplus will also go toward election integrity efforts and to promote voting system reform.

Stein seems to be tapping into the division in the US created by the elections. She is using this to raise money for the Greens while pretending this is about integrity.

She has raised more than is necessary already, and if the state declines to do a recount, she keeps the whole pot. So this is a win-win for her anyway we slice it. The likelihood of this changing the outcome is not very high. If it did, this would unleash real civil unrest on a magnitude never seen in the USA. To exploit the division in the country like Stein is doing is highly disruptive and very dangerous for the nation.

This shows that the left is not interested in debate, this is all about oppression. They are only interested in subjugating anyone who disagrees with them. This is laying the seeds for the break-up of the United States by 2036.

https://www.armstrongeconomics.com/international-news/north_america/2016...

 

 

pyranablade's picture
pyranablade
Status: Silver Member (Offline)
Joined: Nov 8 2010
Posts: 206
Jill Stein

After being completely ignored by the media - no, after getting "locked out" by the media - they now decide to cover Green Party Candidate Jill Stein and, well, who knows, maybe she is asking for the recount as a disingenuous way of raising money for her party. Now that Jill Stein is getting media coverage, I have to admit that she has some warts. She's still not as ugly as the two "major party" candidates though. Not by a longshot.

davefairtex's picture
davefairtex
Status: Diamond Member (Offline)
Joined: Sep 3 2008
Posts: 5693
recounts

To me, the recount benefits only one person: HRC.  Therefore, the source of the money for that recount comes from HRC supporters.

A recount is a fine thing to request.  Its part of the process, and it should be the right of any candidate.  However, I think its telling that HRC did not feel able to ask for the recount herself, but chose to use a cats-paw instead to do it for her.  It fits right in line with the style of the HRC campaign: if there's a way to get something done, they will choose the sneakiest way possible to make it happen.

Using the NYT to label Charles and many others "fake news" sites (and I suspect we're all on HRC's "enemies list" now - I suspect we'd be censored by Homeland Security if she got into power, for the good of the nation, naturally), getting Stein to demand the recount, having WAPO demand that the electors pick HRC instead of Trump...make no mistake, HRC's Mighty Wurlitzer is still playing in the background, hoping to sneak her into the Oval Office through the back door now that the front door has slammed shut.

Hmm.  That was a badly-mixed metaphor, but you get the idea.

 

 

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