Daily Digest

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Daily Digest 10/5 - $21T Missing, Preparedness Procrastination and Entitlement Planning

Thursday, October 5, 2017, 11:11 AM

Economy

$21 Trillion Missing – U.S. Government a Criminal Enterprise – Catherine Austin Fitts (pinecarr)

Fitts contends the Deep State swamp creatures do not want to give the money back and want to tear up the U.S. Constitution in order to keep all those trillions of stolen dollars. Fitts explains, “You want to preserve the Constitution because you want to have individual sovereignty, and you want your taxes to only go into things that have financial and national sovereignty. So, that has to be restored. The reason they want to tear up the Constitution is they don’t want to give the money back. That’s a legal mechanism that requires us and gives us the power to reverse this.

They say we have $20 trillion in debt, and there is no money. It’s a very different policy discussion if I can say, wait a minute, there’s $20 trillion in debt, but you stole $21 trillion... and we’re putting that back on the table for purposes of this policy discussion.”

A Biotech Company Changed Its Name to ‘Riot Blockchain’ and Its Stock Is Surging (cmartenson)

Other companies have shown that a foray into the cryptocurrency space is often rewarded by investors, at least initially, as the astronomical increase in the value of virtual coins has lured everyone from big banks to startups. Overstock.com Inc. shares rallied after the online retailer said it was starting a digital-coin exchange. Shares of MGT Capital Investments Inc., the cybersecurity firm with ties to controversial anti-virus software developer John McAfee, soared after the company announced a move into bitcoin mining.

Favorite to be next Fed chair believes central bank is a 'slave' to the stock market (cmartenson)

Warsh's possible appointment has caused both U.S. bond yields and the dollar to move higher. Warsh was not immediately available for comment when contacted by CNBC.

As of Monday the PredictIt probability market had Warsh as a 33 percent favorite to be the next Fed chair, ahead of Jerome Powell on 26 percent and incumbent Yellen on 17 percent.

Top three gun manufacturers have received more than $100 million in subsidies (edelinski)

The biggest beneficiary of these auctions was Remington, which received $68.9 million to relocate a plant from New York to Alabama. Another big winner was Sturm, Ruger & Co., which received $9.4 million in subsidies to open a plant in North Carolina.

Janus: the Beginning of the End of California’s Pension Crisis? (yogmonster)

Mark Janus of Illinois, much like Rebecca Friedrichs of California before him, is being forced to contribute union “agency fees” to support the union’s purported costs of collective bargaining. The union’s argument is that since Janus benefits from the results of collective bargaining, he should be forced to pay a “fair share” even if he doesn’t agree with the union’s political positions.

Huffman: Preparedness Procrastination and Entitlement Planning (cmartenson)

Puerto Ricans are American citizens, but Puerto Rico is not a state. Their tragic plight after Hurricane Maria hit them full force on September 20 is a situation closer to home than we like to think. They need food, water, and fuel. They need electricity and cell phone reception. They need functional hospitals and more doctors. They need a lot of help to get the debris out of the way and to get roofs back over their heads.

“That Was the Final Straw”: On Reporting From Venezuela as It Spiraled Downward (jdargis)

People with access to U.S. currency can live like kings in Venezuela because the currency has fallen off a cliff, but not everyone has relatives in the U.S. who can send them dollars. It’s this slow descent into the abyss. I think it was Diego — a young man featured in the story — who said to me, while we were at a market, something like, “Man, this is such bullshit, nothing is affordable anymore.” And I asked him about when he began to notice the changes. He said it was slow, so slow that you just got used to it each time it happened. Each time there was a spike, you thought it can’t get worse, but then it did. For reference, when I got there, the currency was below 8,000 bolívars per one U.S. dollar. When I left, it’d dropped to 20,000 to one dollar amid the chaos. Now it’s gone all the way to 30,000. People’s real earnings have just gone up in flames.

The Next Cyber Victim Is... (Tiffany D.)

Maersk’s CEO told the Financial Times that the attack was so damaging “we ended up having to use WhatsApp on our private phones [to communicate]. It was, frankly, quite a shocking experience.”

The point is, huge cyberhacks keep happening when computer security isn’t a top priority for a company.

Scotland To Permanently Ban Fracking (Michael K.)

In January 2015, the Scottish Government put in place a moratorium on granting consents for unconventional oil and gas developments in Scotland. Back then, the government promised to undertake further research on potential impacts before holding a full public consultation. The consultation ran from January 31 to May 31, 2017, and received more than 60,000 responses, the government said.

Gold & Silver

Click to read the PM Daily Market Commentary: 10/3/17

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."

1 Comment

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 3989
So, why does Puerto Rico have more than $70 billion in debt?

So, why does Puerto Rico have more than $70 billion in debt?

MarketWatch-17 hours ago
Puerto Rico, and domestic entities linked to the U.S. territory, owe creditors more than $70 billion. A double-whammy of devastating hurricanes in recent months, ...

Puerto Rico bondholders on Wall Street are 'suicidal,' fear ...

CNBC-20 hours ago
New U.S. issued loans would likely be senior to other debt, and bond holders ... priority for repayment, and they will not get paid on the existing $72 billion debt.

Trump budget chiefs says no bailout for Puerto Rico debt

KWTX-16 hours ago
Trump budget chiefs says no bailout for Puerto Rico debt ... Rico's government was negotiating with creditors to restructure a portion of its $73 billion in debt.

Amid state budget stalemate, Metra's labor costs rose 32 percent in ...

Chicago Tribune-4 hours ago
Metra management, facing a budget deficit, has asked the board to approve ... the Regional Transportation Authority said Metra needs about $1.2 billion in ...

 

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