Daily Digest

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Daily Digest 7/6 - Life Without the IRS, A New Way For Crops To Fight Drought

Thursday, July 6, 2017, 10:16 AM


The Meaning Of Independence (Eric G.)

This episode of A Worldview Apart, released the day after the July 4 Independence Day holiday in the United States, explores the history leading up to the 13 original colonies declaring their independence from Great Britain and eventually forming the United States of America. It also explores independence as an ideal that drives American ideology as well as US policy. I make the case that independence is actually a false ideal, one that relies on a fictional view of the power of an individual country in a modern, globalized economy and amongst many pressing problems of global scope and scale.

The U.S. Needs to Invest in Minds, Not Miners (jdargis)

The steadiness of the shift from hands to minds suggests that technology is the main driving force. "Minds" jobs became dominant in 1982, well before China joined the World Trade Organization in 2001, and continued at an unaltered pace during the hyper-globalization of the late 1990s and early 2000s. Although increasing trade with China might have contributed to the decline in demand for production workers, it clearly wasn't the primary force behind the trend.

Trump says west is at risk, during nationalistic speech in Poland (jdargis)

“Americans, Poles, and the nations of Europe value individual freedom and sovereignty,” he said. “We must work together to counter forces, whether they come from inside or out, from the south or the east, that threaten over time to undermine these values and to erase the bonds of culture, faith and tradition that make us who we are.”

Fine Gold versus F.I.N.E. Central Banks (GE Christenson)

“Gold matters, because, excepting silver, it is the only form of money that has survived since individuals discovered the convenience of money over barter. It is beyond the control of governments, as they cannot issue it without acquiring it first. It is subject to the constraints of its quality, so that as a medium of credit it cannot be debauched, only defaulted upon. Its relative inflexibility and its soundness are the primary reason governments do not like monetary gold, and force their preferred alternative on their citizenry. The vested interest of government is therefore to discourage, or even ban the use of gold as competing money.”

A Second Look at Life Without the IRS (Tiffany D.)

San Juan holds the cards in negotiations with its Wall Street creditors, and with Washington. The Puerto Rican people aren’t sovereign; Congress is. Even if a debt deal never materializes, if push comes to shove, the island’s government can simply throw up its hands and leave it to Congress to take over.

Don’t Hold Your Breath For Deeper OPEC Cuts (Michael K.)

More importantly, OPEC’s exports are actually 1.9 mb/d higher today than they were a year ago, despite the highly-touted compliance rate with the collective production cuts. Reuters columnist Clyde Russell calls OPEC’s efforts to balance the oil market “an exercise in self-deception.” It appears that OPEC is exporting just as much oil as it was before the November deal was announced, according to a Reuters analysis of oil tanker data. The UAE, for example, exported 2.8 mb/d in the first six months of 2017, higher than the 2.52 mb/d the country averaged in the same period a year earlier. Iran too is exporting more than last year.

EPA must enforce methane emissions rules immediately after court decision (jdargis)

Environmental groups—including the Environmental Defense Fund, Natural Resources Defense Council, Environmental Integrity Project, Earthworks, the Clean Air Council, and the Sierra Club—challenged the EPA’s stay in court, however. The EPA argued that the stay was reasonable because the previous administration hadn’t given all stakeholders due opportunity to comment on certain parts of the rules’ final wording.

Vinegar—A New Way for Crops to Fight Drought? (jdargis)

Research showed that the mutation of one particular enzyme was linked to the plant’s production of acetate, the main ingredient of which is acetic acid (read: vinegar). This led them to a discovery: plants have a switch that decides how they produce energy. Normally, plants like to break down sugars, but in times of drought, they switch to acetate. And plants that produce more acetate are able to deal with drought more easily.

Gold & Silver

Click to read the PM Daily Market Commentary: 7/5/17

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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German Journalist Dies: Said CIA controls major European News

European Journalist Who Outed the CIA Control of Media, suddenly Dies

Udo Ulfkotte died last week of a heart attack.  

He was most famous for his assertion that the CIA rewarded and punished European journalist depending on the tone of coverage that they gave to the USA, NATO, and especially, the wars being promoted at that time.

Ulfkotte had been an editor at one of Germany's largest newspapers, the Frankfurter Allgemeine Zeitzung.

He published a courageous book in which he said that the CIA had a hand on every significant journalist in Europe, which gave Washington control over European opinion and reduced knowledge of and opposition to Washington’s control over European heads of state. Essentially, there are no European governments independent of Washington.

His book caused a storm of controversies across the continent, with other journalists admitting they have received bribes from the CIA to publish stories not written by them where they would simply put their name.


We’re talking about puppets on a string, journalists who write or say whatever their masters tell them to say or write. If you see how the mainstream media is reporting about the Ukraine conflict and if you know what's really going on, you get the picture. The masters in the background are pushing for war with Russia and western journalists are putting on their helmets.     

I'm ashamed I was part of it. Unfortunately I cannot reverse this. Although my superiors at the Frankfurter Allgemeine Zeitung approved of what I did, I'm still to blame. But yes, to my knowledge I am the first to accuse myself and to prove many others are to blame.


In November 2014 he said the following in an interview with Oriental Review:

I didn’t get money – I got gifts. Things like gold watches, diving equipment, and trips with accommodations in five-star hotels. I know many German journalists who at some point were able to take advantage of this to buy themselves a vacation home abroad. But much more important than the money and gifts is the fact that you’re offered support if you write pieces that are pro-American or pro-NATO. If you don’t do it, your career won’t go anywhere – you’ll find yourself assigned to sit in the office and sort through letters to the editor.

When you fly to the US again and again and never have to pay for anything there, and you’re invited to interview American politicians, you’re moving closer and closer to the circles of power. And you want to remain within this circle of the elite, so you write to please them. Everyone wants to be a celebrity journalist who gets exclusive access to famous politiciansBut one wrong sentence and your career as a celebrity journalist is over. Everyone knows it. And everyone’s in on it. 

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Just for the sake of accuracy, you may want to edit your very worthwhile comment to note that Udo Ulfkotte died back in January 2017.

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Bank of Japan offers to buy unlimited amount of bonds to calm ma

BOJ Asserts Control Over Rising Yields With Purchase Offer

BloombergQuint-11 hours ago
The BOJ is acting after German bonds and Treasuries led a global debt selloff ... while maintaining an annual bond purchase target of around 80 trillion yen.

Bank of Japan offers to buy unlimited amount of bonds to calm markets
Reuters-7 hours ago



EU Rescue Fund Approves 8.5 Billion-Euro Aid Payout for Greece

Bloomberg-34 minutes ago
Out of the 8.5 billion-euro payout, 6.9 billion euros will go toward debt servicing, and 1.6 billion euros toward the repayment of money owed by the state to ...

Alberta's debt grew to $33.3B in 2016-17

Fort Saskatchewan Record-19 hours ago
Alberta racked up a $10.8-billion deficit in the 2016-17 financial year and is now $33.3 billion in debt, according to government figures released on June 29.

Hartford Hires Restructuring Firm as Fiscal Strains Build

Bloomberg-17 hours ago

Hartford's tax base of about $4.1 billion is about two-thirds that of neighbor West ... been delaying its fiscal reckoning by pushing debt payments into the future, ..

In America's Richest State, the Capital Flirts With Bankruptcy

Bloomberg-4 hours ago
As for Connecticut, it faces a projected two-year deficit of $5 billion that ... The city has $672 million in debt, including $228 million of uninsured bonds, according ...

Deficit-ridden Pennsylvania warned of another hit to credit

The News Tribune-20 hours ago
... as lawmakers tussle over how to pay for a $32 billion spending package. ... every $1 billion that is borrowed, including when the state goes to refinance debt.

Wall Street agency looks at CPS finances 'for a potential downgrade'

Chicago Tribune-14 hours ago
A downgrade of the district's debt could have costly consequences. CPS this week announced it is pursuing the sale of $250 million worth of long-term bonds ...


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