Daily Digest 2/9 - Slaughter In The Streets, The Next American Farm Bust Is Upon Us
The chaos has been compared to the 2014 thriller film The Purge, where people take advantage of the absence of law and order to carry out horrific crimes.
With officers staging a walk-out over conditions and wages, thugs are running riot, with people running rampant with guns and machetes, shops being robbed, buses set on fire and dead bodies are left lying in the street.
Most alarming is the prospect this data has been incomplete since the war on terrorism began in October 2001. If that is the case, it would fundamentally undermine confidence in much of what the Pentagon has disclosed about its prosecution of these wars, prompt critics to call into question whether the military sought to mislead the American public, and cast doubt on the competency with which other vital data collection is being performed and publicized. Those other key metrics include American combat casualties, taxpayer expense and the military’s overall progress in degrading enemy capabilities.
There are three crucial reasons why the silver price will outperform the gold price when the highly inflated paper markets disintegrate under the weight of massive debt and derivatives. While many precious metals investors are frustrated by the ability of the Fed and Central Banks to continue to prop up the markets, the longer they postpone the day of reckoning, the worse the collapse.
U.S. Exorbitant Privilege At Risk?! (Axel M.)
Applied to the U.S. as a country, investors borrow cheaply in the U.S., and seek higher returns by investing in the rest of the world. In the investment world, we also refer to this as carry, i.e. one might say the U.S. engages in an amazing carry trade. As long as this ‘carry trade’ works, it is quite a charm. That said, there are those who are concerned that the party cannot last forever. To quote from our own past writings, the former head of the European Central bank Wim Duisenberg said in 2003: ‘We hope and pray the global adjustment process will be slow and gradual." -- In fact, a reference to a "disorderly adjustment of global imbalances" was a risk cited by the ECB every month in its statement until about the time current head, Draghi, took over. This "adjustment process" is a thinly veiled reference to a potential dollar crash.’
David Stockman – Get out of Stocks Now! (Herman J.)
David Stockman discusses what he believes Trumps role is as a disrupter of existing evil in Washington and why we should get out of stocks now!
So yes, both gasoline stocks and supply remains at extremely high levels, but what set off alarm bells is not supply, but demand: the EIA last week reported that the 4-week average of gasoline supplied - or implied gasoline demand - in the United States was 8.2 million barrels per day, the lowest since February 2012. And, as Reuters adds, U.S. refiners are now facing the prospects of weakening gasoline demand for the first time in five years.
While reduced OPEC production for January has seemed to support higher oil prices, reports of OPEC’s accomplishments have lost some sway in recent weeks in the wake of the American Petroleum Institute and the Energy Information Administration reports, which have both reported weeks of builds for crude oil, along with Baker Hughes, which showed that US drillers are putting rigs into production at rates not seen since mid-2014 before the oil price crash began.
So Karl, the former head of the NOAA office that produces climate data, worked with a team of scientists to challenge the IPCC findings and prove that the hiatus did not exist. He claimed to have developed a way to raise sea-temperature readings that had been collected by buoys: He would adjust them by using higher temperature readings of sea water collected by ships. “In regards to sea surface temperature, scientists have shown that across the board, data collected from buoys are cooler than ship-based data,” said one of the study’s co-authors. It was therefore necessary, the NOAA scientists held, to “correct the difference between ship and buoy measurements, and we are using this in our trend analysis.”
From his father’s porch, the 56-year-old can see the windswept spot where his great-grandparents’ sod house stood in 1902 when they planted the first of the 1,200 acres on which his family farms alfalfa, sorghum and wheat today. Even after harvesting one of their best wheat crops ever last year, thanks to plentiful rain and a mild winter, Mr. Scott isn’t sure how long they can afford to keep farming that ground.
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