Daily Digest

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Daily Digest 1/7 - Whitehaven Coal Hit By Hoax, Inflation Hits Coffee

Monday, January 7, 2013, 11:35 AM

Economy

Gold And Silver – Who (What) Do You Trust? You Have A Choice (Taki T.)

What happens when demand wanes vs an ever-increasing supply? The “value” of the supply collapses. Of course, keep in mind fiat has NO VALUE! It is purely imaginary. Take a minute to absorb that thought. IT IS PURELY IMAGINARY. If you imagine something has value, it does, by virtue of your belief.

Defiant Assad Pledges to Continue Fighting (jdargis)

The overtures that Assad offered — a national reconciliation conference, elections and a new constitution — were reminiscent of symbolic changes and concessions offered previously in the uprising that began in March 2011. Those were rejected at the time as too little, too late.

The government last year adopted a constitution that theoretically allows political parties to compete with Assad's ruling Baath Party. It carried out parliamentary elections that were boycotted by his opponents.

Middle East's Largest Refuelling Station Struggles Due to Iran Sanctions (James S.)

Fujairah depends on Iran to supply nearly a third of the one million metric tonnes of fuel that it buy and sells each month, but as the sanctions curb Iran’s export volumes, the majority of the fuel will be shipped to the port of Singapore, as the preferred customer, because it buys four times as much fuel as Fujairah.

Barclays confirmed that, “with the pressure from sanctions increasing over the past two months, more Iranian fuel oil is heading to Singapore, thereby reducing supplies to Fujairah.”

Rex Murphy: Al Gore, friend of the petro-state (westcoastjan)

Along the way, in the service of broadening his already impressive propaganda effort, he acquired — from CBC no less — a digital channel, renamed it Current TV, and hired as lead star the belligerent and bellowing Keith Olberman, the latter fresh from being fired from MSNBC. For Canadians not familiar with Olberman, let us just say he is a partisan broadcaster, shallow and perpetually frenzied, compared to whom Bill O’Reilly is a Zen mystic.

Engineers to Build House Entirely from Waste (James S.)

Jon Lee, from the Ecology Building Society, recognises the originality of the idea and the potential for the discovery of new, cheap, recycled materials that can be used in the construction industry. “It’s a leap forward in highlighting the effectiveness of such materials.”

Australian miner Whitehaven Coal hit by hoax (westcoastjan)

The statement said that ANZ had withdrawn funding for Whitehaven's proposed Maules Creek mine due to "reputational risks and analysis of the returns on this mine in the current climate of high volatility in the coal export market".

Investors then sold shares in the company, fearing that the mine may be pulled.

Poop Trucks Of Dubai (westcoastjan)

Amazingly, Dubai doesn't have a sewage infrastructure to support its skyscrapers, including the world's tallest building, the Burj Khalifa. Drivers said they'd been queuing for three days! Unsurprising then, that many dump their loads into storm drains that lead directly to the open sea. Tourists are warned of the risk of contracting serious illnesses like typhoid and hepatitis if swimming on Dubai beaches.

Guest Post: Inflation Hits Coffee As Brewers Secretly Swap Robusta For Arabica (westcoastjan)

Reuters is reporting that many of America’s major brands have been quietly tweaking their coffee blends. While most coffee companies consider their blends trade secrets, and are loath to disclose exactly what goes into them, both circumstantial and direct evidence suggests they’re now substituting lower-grade Robusta beans for some of their pricier Arabica, and degrading the quality of our coffee.

Tales From The World Before Yesterday (jdargis)

I first went to New Guinea 41 years ago to study birds and to have adventures. I knew intellectually that New Guineans constituted most of the world's last remaining "primitive peoples, who until a few decades ago still used stone tools, little clothing, and no writing. That was what the whole world used to be like until 7,000 years ago, a mere blink of an eye in the history of the human species. Only in a couple of other parts of the world besides New Guinea did our original long-prevailing "primitive" ways survive into the 20th century.

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2 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
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Nate's picture
Nate
Status: Platinum Member (Online)
Joined: May 6 2009
Posts: 590
thanks

Saxplayer,

Thanks for all your efforts on the daily digest.

Nate

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