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Daily Digest 1/30 - The 6 Traders Arrested For Manipulating The Gold Market, Why Is The Shale Industry Still Not Profitable?

Tuesday, January 30, 2018, 11:57 AM

Economy

These Are The 6 Traders Who Were Just Arrested For Manipulating The Gold Market (Kevin J., Alex M.)

HSBC will pay a civil monetary penalty of $1.6 million, and cease and desist from violating the Commodity Exchange Act’s prohibition against spoofing, after an Order found HSBC engaged in numerous acts of "spoofing with respect to certain futures products in gold and other precious metals traded on the Commodity Exchange, Inc. (COMEX). The Order finds that HSBC engaged in this activity through one of its traders based in HSBC’s New York office."

The Follower Factory (tmn)

Devumi’s products serve politicians and governments overseas, too. An editor at China’s state-run news agency, Xinhua, paid Devumi for hundreds of thousands of followers and retweets on Twitter, which the country’s government has banned but sees as a forum for issuing propaganda abroad. An adviser to Ecuador’s president, Lenín Moreno, bought tens of thousands of followers and retweets for Mr. Moreno’s campaign accounts during last year’s elections.

Tax Reform: The Devil’s in the Details (Tiffany D.)

Besides temporary reductions to personal tax rates and a huge slash at corporate rates, the new tax rules also doubled the standard deduction, to $24,000.

But legislators had to pay for all this somehow — or at least, appear to try.

This Flu Season Is The Worst In Nearly A Decade (tmn)

It is too early to estimate how many children will die this season, Dr. Jernigan said, because it still has weeks to run, and because the agency often does not learn of deaths — especially of children who die at home — until weeks after they take place. Despite the late date, the agency still recommends that Americans get flu shots. Because some doctors and pharmacies have none left, Dr. Jernigan suggested checking vaccinefinder.org to find providers with stocks.

Brexit: Britons favour second referendum by 16-point margin – poll (tmn)

Signs that Labour voters may be becoming more open to a rethink, with 9% of the party’s leave backers switching to remain, and stronger support for a second referendum in marginal Labour seats than elsewhere.

Study: Pretrial Detention Makes Poor People Plead Guilty (sv)

By keeping people in jail until their trial, our system persuades them to plead guilty. That is a perversion of justice at the most basic level. If you have any doubt that this is nothing more than the criminalization of poverty, think about this: “we find in our data that the typical defendant earned less than $7,000 in the year prior to arrest, likely explaining why less than 50 percent of defendants are able to post bail even when it is set at $5,000 or less.”

Why Is The Shale Industry Still Not Profitable? (Michael K.)

Not everyone is posting poor figures. Diamondback Energy and Continental Resources had breakeven prices at about $52 and $37 per barrel in the third quarter, respectively, according to the Al Rajhi report. Parsley Energy, on the other hand, saw its “cash required per barrel” price rise to nearly $100 per barrel in the third quarter.

A long list of shale companies have promised a more cautious approach this year, with an emphasis on profits. It remains to be seen if that will happen, especially given the recent run up in prices.

Study shows wetlands provide landscape-scale reduction in nitrogen pollution (Adam)

"Agricultural productivity benefits the economy, but is often accompanied by environmental costs," says Tom Torgersen, director of NSF's Water, Sustainability and Climate program, which funded the research. "This study demonstrates that retaining or restoring wetlands in intensively managed agricultural watersheds would reduce nitrate in rivers and improve local water quality, while also reducing nitrate exports to the Gulf of Mexico hypoxic [dead] zone."

Gold & Silver

Click to read the PM Daily Market Commentary: 1/29/18

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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Time2help
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Every bitcoin investor right now

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blackeagle
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Investors...

Investors? or Speculators...  wink

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sand_puppy
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Russia as the source of all evil -2

James Howard Kunstler posted last week on his distress at the political circus surrounding the Russian Meddling topic.  The issue here is that the theme is so absurd that faith in our leadership is being damaged beyond repair.  At least before, a fig-lief of objectivity and intention to tell the truth was in place.  This is the kind of stuff that destroys societies.

JHK:

For those of us who are not admirers of President Trump, it’s even more painful to see the Democratic opposition descend into the stupendous dishonesty of the Russian Collusion story. When the intelligentsia of the nation loses its ability to think, then there are no stewards of reality left. ...

It’s hard not to be impressed by the evidence in the public record that the FBI misbehaved pretty badly around the various election year events of 2016. ...

If an attorney from Mars came to Earth and followed the evidence already made public, he would probably suspect that the FBI and DOJ colluded with the Clinton Campaign and the Democratic Party to derail the Trump campaign train....  subvert the Sanders primary campaign, the Steele dossier being used to activate a FISA warrant for surveillance of the Trump campaign, the arrant, long-running grift machine of the Clinton Foundation (in particular, the $150 million from Russian sources following the 2013 Uranium One deal, when she was Secretary of State). There is obviously more there there than in the Resistance’s Russia folder.

I’m not comfortable acting as a supporter or defender of Trump, but I’m even less comfortable with the appearance of a rogue security and law enforcement apparatus gone blatantly political. The so far poorly-explained antics at the FBI and DOJ reflect badly on all vested authority in the country — and especially for any faction that pretends to be on the side of justice. This is a much larger problem than the public debate seems to recognize. We are not far from a point where nobody will be able to believe anything official in this land.

Caitlyn Johnstone traces back to where this "Russian Meddling" theme emanates.  She concludes that it is Neocon think tanks.

A couple of interesting articles have come out recently which highlight the extremely uncomfortable reality that it is impossible to shake a stick at the establishment Russia narrative without hitting a warmongering neoconservative think tank.

new article from Disobedient Media titled “Meet The Cabal That Are Framing Domestic American Activism As ‘Russian Influence’ And ‘Fake News'” shines a much-needed spotlight on the neocon think tank Alliance For Securing Democracy, which has been cited over and over and over again by mainstream news outlets recently as a reliable source of authority on all matters pertaining to Russia’s alleged interference in US democracy....

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Here is the article from Adam Carter at the Disobedient Media. (Framing Domestic American Activism as "Russian Influence"...)

Can we trust the judgement of think-tanks who have labeled Twitter users as part of a ‘Russian influence campaign’ as sound when those same entities provide little evidence, and their high-level members include former Clinton supporters?

At the beginning of 2017, an initiative was launched by a non-partisan think-tank called the German Marshall Fund US (GMFUS) under the name “The Alliance For Securing Democracy” (ASD).

During the Summer, ASD started working on a project they called the “Hamilton 68 Dashboard“, an effort that was presented to the public as a means of monitoring Russian disinformation efforts on Twitter,.

Although some in the mainstream press have divulged the association between ASD and GMFUS, hardly anyone has disclosed the affiliations between those running ASD and special interests, or similar connections with the advisory board of GMFUS.

...while analytical methods for identifying associations and social media relationships are outlined, if you read it through to the end you may notice one thing missing. The methodology for actually classifying tweets as disinformation or part of a Russian influence campaign isn’t disclosed and neither are samples of what had been declared disinformation.  This is, of course, fundamental in assessing the veracity of the effort.

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So then #ReleaseTheMemo happens.  The Memo is a 4 page document that outline a severe use of fabricated evidence (the Steele Dossier) to obtain a FISA warrant to spy on the Trump campaign.  Factions within the DOJ and FBI appear to have been caught red handed using the power of their public office to wage political war on Trump.

Sen.Diane Feinstein and Shiff attempt to frame efforts to make The Memo public as more "Russian Meddling."

ABC News Tweet: Sen. Feinstein, Rep. Schiff urge Facebook and Twitter to investigate involvement of Russian bots in pushing "Release the Memo" campaign: "If these reports are accurate, we are witnessing an ongoing attack by the Russian government through Kremlin-linked social media actors."

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So who are the Alliance for Securing Democracy and what are their goals?

Mission Statement: "Finding out what happened in the United States [election ] in 2016 and the impact it had is important. But that is not enough. The U.S. intelligence community assessed in January 2017 that “Moscow will apply lessons learned from its Putin-ordered campaign aimed at the U.S. presidential election to future influence efforts worldwide, including against U.S. allies and their election processes.” Russia’s efforts are also ongoing across Europe — and we also need to prepare for other state actors to replicate Putin’s tactics. Moreover, Putin does not distinguish between political parties, but rather seeks to sow and exploit divisions. When our democratic institutions are weakened, every party and democratic nation is at risk.

Meeting this challenge to our democracy demands that Republicans and Democrats in the United States unite with our democratic allies around the world to better understand Russia’s multifaceted aggression in order to defend ourselves and our democratic partners, and deter such activity in the future. ... The Alliance will work to publicly document and expose Vladimir Putin’s ongoing efforts to subvert democracy in the United States and Europe."

And who are the ASD staff and who are the advisory counsel?

Here you find a list of neocons.  Please look over the list and see our favorite faces from the Iraq War, The Patriot Act and the bombing of Libya and Syria. (Mike Chertoff, Toomas Ilves, David Kramer, Bill Kristol, Michael Morrell, Mike McFaul, Mike Rogers, Kori Shake, Julie Smith, Adm. Jim Stavridis, Jake Sullivan, Nicole Wong, Laura Rosenberger, Jamie Fly, David Salvo, Bret Schafer, Brittany Beaulieu).

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Glenn Greenwald writes on the ascent of the neocons and their central role in the Russian Meddling narrative as the Alliance for Securing Democracy.

Greenwald:  "[ASD] is, in fact, the ultimate union of mainstream Democratic foreign policy officials and the world’s most militant, and militaristic, neocons. The group is led by two longtime Washington foreign policy hands, one from the establishment Democratic wing and the other a key figure among leading GOP neocons."

The Saker explains the neocon ideology succinctly:

[T]heir ideology is very simple. Israel first, violence everywhere, and no diplomacy.

This is a Jewish movement.  As you look through the Staff and Advisory Panel of the ASD you will see almost entirely Jewish faces.  (Check their bios).  I call on the Jewish PP members to please help us understand what this group is up to and how they work.

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