Daily Digest

Image by digitalmoneyworld, Flickr Creative Commons

Daily Digest 4/30 - Gold Leaving U.S. Vaults, Why Milennials Have Nothing Saved For Retirement

Monday, April 30, 2018, 10:49 AM

Economy

Gold Leaving US Vaults: Signs of Upcoming Currency War and Armed Conflict (thc0655)

The US dollar’s status as the global reserve currency has been called into question. It faces some tough competition. The tariffs introduced by the US administration as an instrument of coercion against other countries are failing to bolster the greenback, which may soon face headwinds. An international currency war looms as a possibility. This makes investors look for other options. Indeed, why should other countries rely on a US dollar that is not backed by gold or anything but “the good faith and credit of the American worker,” when America itself is not trusted internationally?

Correspondents group criticizes comedian Michelle Wolf for remarks at annual dinner (Dana T.)

"Last night's program was meant to offer a unifying message about our common commitment to a vigorous and free press while honoring civility, great reporting and scholarship winners, not to divide people," she said. "Unfortunately, the entertainer's monologue was not in the spirit of that mission."

Millennials explain why they have nothing saved for retirement (Adam)

For others, there are more immediate costs like child care and rent. They're still building up emergency savings and the idea of putting money in an account they can't touch for 30 years doesn't make a lot of sense to them, despite the advantage of compounding interest.

The Pentagon Could Get Self-Driving Vehicles First (jdargis)

Technology and auto companies including Alphabet Inc.’s Waymo unit and General Motors Co. are racing to develop autonomous vehicles to deploy in ride-hailing fleets. Uber Technologies Inc. has introduced self-driving trucks to U.S. highways on a trial basis in some locations. Waymo has been working on the technology for more than a decade, and most other companies have encountered significant hurdles, highlighted by the death of a pedestrian who was struck by an autonomous Uber test SUV in March.

Russia launched a floating nuclear power plant this weekend (jdargis)

Meanwhile, critics are concerned that a floating nuclear power plant is a situation ripe for disaster if the boat encounters extreme weather. In a statement, Greenpeace nuclear expert Jan Haverkamp cited concerns about the Lomonsov's flat-bottomed hull and its lack of self-propulsion despite the fact that it is intended to be anchored in relatively shallow water.

Everything created is predicted by nature: A new video explains the physics of flow (blackeagle)

Bejan, an expert in thermodynamics, discovered constructal law in 1996 while designing cooling systems for laptop computers. Bejan learned how to prevent electronics from overheating by diverting heat from computers following natural, branching pathways, allowing the heat to escape on its own.

EU agrees total ban on bee-harming pesticides (travissidelinger)

The ban on the three main neonicotinoids has widespread public support, with almost 5 million people signing a petition from campaign group Avaaz. “Banning these toxic pesticides is a beacon of hope for bees,” said Antonia Staats at Avaaz. “Finally, our governments are listening to their citizens, the scientific evidence and farmers who know that bees can’t live with these chemicals and we can’t live without bees.”

Australia Pledges Millions of Dollars in Bid to Rescue Great Barrier Reef (jdargis)

“Science is well aware of what is killing coral on the Great Barrier Reef — it’s the excess heat that comes from burning fossil fuels,” said Bill McKibben, an American environmentalist, author and founder of 350.org, which aims to rapidly end the use of fossil fuels. “If the Turnbull government was serious about saving the reef, they would be willing to take on the industry responsible for the damage.”

Critics seized on Australia’s continued subsidized development of gas and coal, especially its openness to the Adani coal mine in northern Australia that would be among the world’s largest, pushing coal on boats running near the reef. The plan still awaits final approval.

Gold & Silver

Click to read the PM Daily Market Commentary: 4/27/18

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."

3 Comments

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 1962
Netanyahu Speech on Iran

https://www.zerohedge.com/news/2018-04-30/israel-closes-airspace-near-sy...

Netanyahu to give speech about Iran at GMT 5

Uncletommy's picture
Uncletommy
Status: Platinum Member (Offline)
Joined: May 4 2014
Posts: 602
Physics of flow?

Fundamental laws of nature change only in name:

The path of least resistance leads to crooked rivers and crooked men - Henry David Thoreau

 

 

Matt Holbert's picture
Matt Holbert
Status: Silver Member (Offline)
Joined: Oct 3 2008
Posts: 130
Millennials Not Saving

despite the advantage of compounding interest.

At savings rates approaching zero, there is no advantage to saving. For the first time, I paid property taxes in full --rather than two installments -- because the interest earned on the second installment amount for six months would just barely cover the cost of a stamp.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments