Daily Digest

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Daily Digest 12/19 - Danish Bank Issues Stark 'Deadly' Bitcoin Warning, The Road To Food Sovereignty

Tuesday, December 19, 2017, 9:00 AM

Economy

Danish central bank head issues stark warning on 'deadly' bitcoin (Yoxa)

"It is not a regulated market. It is not the responsibility of the authorities. It is the responsibility of the individual," said Rohde.

Emphasizing his point, Rohde told investors not to "come and complain to us if it goes wrong".

Bitcoin to Hashgraph: The Crypto Revolution (Hidden Secrets of Money Episode 8) (Diane C.)

Today, mankind stands at a crossroads, and the path that humanity chooses may have a greater impact on our freedom and prosperity than any event in history. In 2008 a new technology was introduced that is so important that its destiny and the destiny of mankind are inextricably linked. It is so powerful that if captured and controlled, it could enslave all of humanity.

Broken bonds: The role Wall Street played in wiping out Puerto Ricans' savings (thc0655)

A CNBC investigation found that UBS was not forthcoming about the extent of the risks of those bond funds from both its clients and brokers, even as the values of the funds plummeted. By the end of 2012, more than $10 billion in assets were invested in UBS' bond funds. That represented about 10 percent of the island's gross domestic product at the time. Today, those investments have been nearly wiped out.

St. Louis Fed Promotes The Mathematically Impossible (Wendy SD)

It's bad enough when analysts fail to understand basic economics, but even Fed economists are clueless about how markets work. Negative rates cannot possibly do what the Fed suggests, but they can foster an artificial wealth effect when people borrow or spend more than they should.

Any economic gain spurred on by reckless borrowing will all be taken back and then some, in the next recession.

U.S. lawmakers are redistributing income from the poor to the rich, according to massive new study (Adam)

The 2018 World Inequality Report, written by a team of leading international economists including Thomas Piketty of “Capital in the Twenty-First Century” fame, finds that the rise of income inequality in the United States is “largely due to massive educational inequalities, combined with a tax system that grew less progressive despite a surge in top labor compensation since the 1980s, and in top capital incomes in the 2000s.”

An Argument Against AGI (DennisC)

To annotate: “looking at it from the point of view of biology…” means the kind of “wet” programming the brain does, neurons, axons and so forth. Simulating such process is likely to be a reference to neural networks, which are (broadly speaking) sets of networks modeled around the way the brain works: namely taking a stab at clustering logic in proximity and generating hierarchies of information. “Looking at it from the point of psychology” is equally as provoking, as it refers to human intelligence as buckets of knowledge.

OPEC vs IEA: Who’s Right On Oil Prices? (Michael K.)

OPEC has a history of underestimating U.S. shale. This underestimation led to the glut that sank prices in 2014. Now it stands to reason that the cartel is more cautious in its estimates of U.S shale oil developments, but this caution does not necessarily have to be reflected in comments. Let’s not forget that comments from OPEC officials—whether or not grounded in facts—have had a direct and immediate effect on prices from events such as the shutdown of the Forties pipeline network last week.

Let it go: The Arctic will never be frozen again (jdargis)

Until roughly a decade or so ago, the region was holding up relatively well, despite warming at roughly twice the rate of the planet as a whole. But in recent years, it’s undergone an abrupt change, which now defines it. The Arctic is our glimpse of an Earth in flux, transforming into something that’s radically different from today.

The road to food sovereignty (Uncletommy)

Two conferences this autumn tackled different ends of the problem, in splendid isolation from each other. The UN Committee on World Food Security held its annual meeting in Rome in mid-October, alarmed that the number of hungry people on the planet has suddenly climbed by 40 million in the past year – much of it due to the direct and indirect effects of climate change – and fearful that an unpredictable climate will cut global food production still more sharply in the decades ahead.

Ohio River Towboat Captain Navigates A Changing America (Uncletommy)

But he has seen a growing number of coal-fired power plants being dismantled, from Indiana to West Virginia, and says barges loaded with coal have dwindled in the face of cheaper natural gas and tougher environmental regulations.

It is a decline that President Donald Trump has promised to turn around, with a revival of coal, manufacturing and infrastructure. Those promises have played well among many communities along the river.

The sun is blank, NASA data shows it to be dimming (thc0655)

What do we learn from these plots? First, TSI does change! That’s why we stopped calling it the solar constant. Second, as the sunspot number increases, so does TSI. But the converse is also true. As the sunspot number decreases so does TSI. We have watched this happen for four sunspot cycles. This waxing and waning of TSI with sunspot number is understood as a combination of dark sunspots reducing TSI below the dashed line and long-lived magnetic features increasing TSI. SORCE has even observed flares in TSI.

Gold & Silver

Click to read the PM Daily Market Commentary: 12/18/17

Provided daily by the Peak Prosperity Gold & Silver Group

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4 Comments

lambertad's picture
lambertad
Status: Silver Member (Offline)
Joined: Aug 31 2013
Posts: 171
Drum beats for war

https://www.washingtonpost.com/world/national-security/the-nsa-has-linke...

Seems the NSA has finally figured out the WannaCry worm - it was NK hackers

What timing.....

 

blackeagle's picture
blackeagle
Status: Silver Member (Offline)
Joined: May 16 2013
Posts: 216
Let it go: The arctic will never be frozen again

Acting NOAA Administrator Gallaudet said he personally presented the report at the White House last month, adding that Trump administration officials are “addressing it and acknowledging it and factoring it into their agenda.” (Emphasize mine)

My guess: They will change actual environmental regulations to ease access to oil prospecting companies as the ice will be gone.

 

AaronMcKeon's picture
AaronMcKeon
Status: Bronze Member (Offline)
Joined: Apr 29 2014
Posts: 71
Isn't this how markets are SUPPOSED to be!?

"It is not a regulated market. It is not the responsibility of the authorities. It is the responsibility of the individual," said Rohde.

https://beta.finance.yahoo.com/news/danish-central-bank-head-issues-star...

dude59's picture
dude59
Status: Member (Offline)
Joined: Feb 22 2009
Posts: 9
Arctic warming

1.5C temperature rise happened last year. 2.0C is baked in. 2.5 by 2050 happens unless we change our ways very soon. 3.0C rise by 2100 is also coming unless we stop carbon emissions by 2030. 

Sorry to say, the next generation is in trouble. 

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