Daily Digest

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Daily Digest 11/8 - PR Bond Insurer Stocks Fall, Venezuela Bonds Tumble

Wednesday, November 8, 2017, 8:31 AM

Economy

San Benito County's 100K Club (California)

The cost just for the $100K-plus pensioners exceeds $6.24 billion a year and is rising with the number of six-figure retirees.
In the last year alone that number rose 18 percent, from 52,963 in 2016 to at least 62,474 now, Transparent California noted in its most recently released report on the $100K Club.

Puerto Rico bond insurer stocks fall after '60 Minutes' episode

In May, Puerto Rico filed for bankruptcy, with $72 billion of total debt it cannot pay. The Puerto Rico Electric Power Authority filed for a form of bankruptcy in June to shed $9 billion of debt.

Cook County governments owe $139 billion—up 30% in six years

Local governments in Cook County, including the county itself, now have a whopping $139 billion in debt, most of it unfunded and most of it money owed to municipal and school workers for pensions and retiree health costs.

ECB will have 130 billion euros to reinvest over next year

Having already bought 2.2 trillion euros worth of bonds to depress borrowing costs, the ECB has started to shift its focus from new purchases, arguing that its bloated balance sheet will provide the bulk of accommodation needed to lift inflation.

Venezuela bonds tumble, PDVSA bonds rise on partial default speculation

The OPEC member country’s cash-strapped government invited creditors to a Nov. 13 meeting in Caracas on Friday, after announcing plans to potentially restructure some $60 billion in bonds.

America Breaks Down: The Anatomy of a National Nervous Breakdown (Time2Help)

How do you keep a nation safe when not even seemingly “safe places” like churches and rock concerts and shopping malls are immune from violence?

The government’s answer, as always, will lead us further down the road we’ve travelled since 9/11 towards totalitarianism and away from freedom.

Electronic Gold: The Deep State’s Corrupt Threat to Human Prosperity and Freedom (Claude F.)

The weapon used in the gold price manipulation crime is paper, or, better stated, electronic gold in five distinct forms: gold futures; gold options on futures; bullion-bank controlled, deliberately audit-proof gold ETFs; gold EFPs (Exchanges for Physical); and the equities of bullion bank-controlled major mining companies. (The major miners serve the bullion banks, not their shareholders, and have actively participated in gold’s price destruction for years, starting with the “hedging” campaign that handed guaranteed profits to the banks and pitiful share prices to the stakeholders.)

U.S. farmers tighten belts to compete with cheap LatAm grain (Uncletommy)

“The logical thing to do is stop farming,” said Giessel, 64, who farms about 5,000 acres and has worked on the land all of his adult life.

Giessel has cut spending on what he can control - seeds, chemicals, fertilizer, rented land - and chewed through his farm’s savings. He stands to lose $93 an acre, or nearly $15,000, on one corn field alone this year.

Gold & Silver

Click to read the PM Daily Market Commentary: 11/7/17

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."

3 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4010
US healthcare spending has rocketed $900 BILLION since 1996

Fitch cuts Venezuela's PDVSA rating amid default fears

Yahoo Finance UK-11 hours ago
Maduro on Thursday announced he is looking to renegotiate Venezuela's estimated $150 billion in sovereign external debt, but did not specify how this would ...

Venezuela agrees to restructuring of $3 billion debt to Moscow ...

Reuters-3 hours ago
MOSCOW (Reuters) - Venezuela has agreed to the restructuring of $3 billion of its debts to Moscow on the earlier agreed terms, Russian Finance Minister Anton ...

China Traders Take on Risk as Margin Debt Tops One Trillion Yuan

Bloomberg-4 hours ago
Outstanding margin debt on local bourses climbed above 1 trillion yuan ($151 billion) on Monday for the first time since January 2016 as the Shanghai ...

Puerto Rico Needs as Much as $21 Billion in Aid, Oversight Official ...

Bloomberg-22 hours ago
The damage crippled the economy and left investors wagering that it will be able to repay even less of its $74 billion of debt, causing the price of its most ...

US healthcare spending has rocketed $900 BILLION since 1996 ...

Daily Mail-21 hours ago
While we cannot slow ageing, they say the report is another reminder that 'the United States is on an unsustainable growth path in terms of health care costs and ...

New study explains why US health care spending increased $1 trillion

Medical Xpress 20h ago
Cornelius999's picture
Cornelius999
Status: Gold Member (Offline)
Joined: Oct 17 2008
Posts: 357
Powerful article on

Powerful article on electronic gold and Jim Rickards Claud F. Thanks a lot. It makes perfect sense.

goldrunner1's picture
goldrunner1
Status: Bronze Member (Offline)
Joined: Apr 20 2009
Posts: 27
Powerful Article

Thanks Cornelius999.....To me there was nothing new in the article. It just reiterated what I have come to learn over the years. I have always suspected that Ricards was on the other side. I thought I would post this find because it was so well written and laid out.

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