Daily Digest

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Daily Digest 10/4 - Iran Tightens Measures To Restrain Currency Fall, The Energy-Water Nexus

Thursday, October 4, 2012, 9:49 AM


Royal Bank’s real estate hustle starts to unravel (James K.)

The juggling act suits the bank, which also owns NatWest, as it enables it to avoid crystallising losses on loans that can be decreed to have gone bad* and to transform liabilities into assets. The commercial real-estate hustle has been central to Hester’s recovery program, enabling him to massage the balance sheet and ultimately to flog off customer assets for much-needed cash.

China Banks Pull Out Of World Bank, IMF Events (Sonya P.)

"Quite frankly, it's Japan-China relations," said an official at the Tokyo branch of the Agricultural Bank of China, explaining why the bank was pulling out of both IMF-related events and the Osaka conference, which is sponsored by Belgium-based SWIFT, a group set up by financial institutions to handle transactions. The bank is still sponsoring and participating in a meeting of the Institute of International Finance--a global association of financial institutions--that is taking place in Tokyo at the same time as the IMF meeting, another official said.

25-year prison term for foreclosure-rescue scammer (Thomas C.)

t DeMarco's sentencing hearing in federal court in Philadelphia, each attributed the death of a parent to the devastation their families felt after losing their houses to DeMarco's scam, which was sold to victims as a foreclosure-rescue program.

"She gave up the will to live when this came to light," Cheesman said of her mother, Gloria Cheesman.

Race To Debase - 2012 Q3 - Fiat Currencies Vs Gold & Silver (adam)

With recent announcements of even further central bank monetary easing policies (QE3, Japan, Brazil, etc.) we fully expect the current gold bull market and silver bull market revaluation trend to not only continue, but to quicken moving forward.

Iran tightens measures to stem currency fall (Martin F.)

In a potentially serious showdown, merchants appeared to stage widespread closures in Tehran’s bazaar, the traditional business hub in Iran’s capital. The sprawling bazaar has played a critical role in charting Iran’s political course — leading a revolt that wrung pro-democratic concession from the ruling monarchy more than a century ago and siding with the 1979 Islamic Revolution.

Andrew McAfee: Are droids taking our jobs? (Dana T.)

Robots and algorithms are getting good at jobs like building cars, writing articles, translating -- jobs that once required a human. So what will we humans do for work? Andrew McAfee walks through recent labor data to say: We ain't seen nothing yet. But then he steps back to look at big history, and comes up with a surprising and even thrilling view of what comes next.

Fed Easing Has Little Impact So Far: Out of Bullets? (Dana T.)

"We've been range-bound as everyone digests the information," said Robert Laura, president of Synergos Financial Group in Brighton, Mich. "There's nothing that's going to take us any higher. The headwinds out there are too large for QE to overcome."

Digital currency: Brave new world or criminal haven? (westcoastjan)

When registering a bank account, you generally have to supply proof of identity and an address, whereas registering with a digital currency provider only needs an Internet Protocol (IP) address.

That leaves the system open to abuse.


Ambitious plans for oil sands would create lakes from waste (westcoastjan)

But the coming lake district also highlights the scale of the ecological gamble under way in the province. The 30 bodies of water will be what are known as end pit lakes, left behind because it’s less costly to fill a mine with water than dirt. Their size and scale are laid out in a new document produced by Alberta’s industry-funded Cumulative Environmental Management Association.

New Solar Cell Produced with a 21% Conversion Efficiency (James S.)

Zheng Xu, the founder and CEO of Silevo, graciously accepted the award and announced that “now that we’ve begun commercial production of Silevo cells with greater than 21 percent conversion efficiency, this award reflects our determination to develop and bring to market a technology that makes sustainable, widespread solar adoption viable for the energy market. Silevo’s Triex technology is the first offering that can bring significant balance of system (BOS) savings, as well as an increased energy yield.”

The Energy-Water Nexus (Rich B.)

One final comment on domestic water. Each month, I pay a $19.33 base rate for water service (not including wastewater service, which is a comparable charge). Then it’s $3.61 per hcf of water used. So my monthly water bill comes to about $26. Meanwhile, the average residence pays $70 for their 14 hcf allocation. I’m paying about 2.7 times as much per gallon as the average resident: my reward for conserving, apparently. A further amusement is that my water service issued a “20 gallon challenge,” which asks residents to shed 20 gallons per day per person. Setting aside the temporary native-plant irrigation, our 38 gal/day household usage would mean that rising to the challenge would result in our complete abstention of utility water usage. In fact, it would require each of us to cough up (not literally) a gallon of water each month to donate to the utility. Good thing we have rain catchment.


Sucking CO2 from the skies with artificial trees (westcoastjan)

The carbon dioxide we are releasing is changing the climate, the wind and precipitation patterns, acidifying the oceans, warming the habitats for plants and animals, melting glaciers and ice sheets, increasing the frequency of wildfires and raising sea levels. And we are doing this at such a rapid pace that animals and plants may not have time to evolve to the new conditions. Humans won't have to rely on evolution, but we will have to spend hundreds of billions of dollars on adapting or moving our cities and other infrastructure, and finding ways to grow our food crops under these unfamiliar conditions.

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Organic Raw Veggies
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Printing money

Maybe we need a law where all money has to be printed, actually physically. And have armored trucks driving it back and forth between banks. Yes yes, I like this idea. No more electronic money. Armored planes flying between countries. Oh wait...how long would it take to print 16 trillion in 100s. How many people and printers? We could employ the unemployed, maybe all of them. 50, 100s per sheet. $5000 per sheet. 200 sheets makes a million. 200,000 sheets makes a billion. Ok so we need 3,200,000,000 sheets of 100s to make 16 trill. We can run off 1000 sheets per day and we will run the presses 320 days per year. 320,000 per press per 320 days. So we need to setup 10,000 printing presses for 320 days at 1000 sheets per day of 50 - 100s. Or 1000 presses for 10 years. Setup 20 per State, run three shifts 6 person shifts for 10 years. By then we will need more printed. Maybe setup 40 per State. Fat fingers typed an extra zero on his numbers. We could start just printing trillion dollar bills. Return to work 2012 plan.

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