Daily Digest

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Daily Digest 2/14 - Canada Vulnerable To Currency War, Even Organic Foods Have GMOs

Thursday, February 14, 2013, 11:03 AM


Canada vulnerable to currency war, Carney warns (westcoastjan)

The statement appeared aimed at Japan, the world’s third largest economy, which set in motion a series of policy actions that have contributed to a 15 per cent devaluation in the yen against the U.S. dollar over the past three months. The U.S. and Europe have also maintained extremely accommodative monetary policies, although Carney called them appropriate given the circumstances in those economies.

9 Emails Wall Street Hoped You'd Never See (westcoastjan)

This is far from the first time that Wall Street workers have incriminated themselves with emails they assumed no one other than the recipient would ever see. From the infamous "Fabulous Fab" email to Lehman Brothers employees referring to assets that they were publically promoting as "goat poo," it seems people in the financial industry have a knack for making fools out of themselves all over the World Wide Web.

Spanish apathy turns to anger at corruption 'epidemic' (westcoastjan)

For the last few months the corruption scandals have been so numerous that the television news began lumping them together in a swift round-up, rather than reporting on each one. They had to leave room for other news items - like the effects of austerity cuts and rocketing unemployment.

The four-letter word hurting one-in-five relationships? Debt (westcoastjan)

A survey released Wednesday by MNP LLP, a Calgary-based accounting and business consulting firm, finds 20% of Canadians couples say their debt situation is leading to relationship strain. The same survey found in 10% of couples, one spouse claimed to be unaware of the their partner’s debt problems — a situation that could be mean financial ruin for the more financially secure person.

U.S. Dollar Collapse? Here Are 9 Ways It Could Happen (Chris F.)

A slow, gradual decline can occur without any one person ever even noticing the effects– until, that is, a “black swan”event comes along and triggers the psychology of investors to quickly reverse their thinking, and here a collapse can literally happen overnight. A “black swan,” a term coined by Nassim Nicholas Taleb in his bestselling book The Black Swan, is “an event, positive or negative, that is deemed improbable yet causes massive consequences.” In his book he describes the psychology biases that makes people individually and collectively blind to a rare event. He also notes that the more complex a system is, the more prone it is to failure as there is more room for glitches and errors. This analogy can be used to describe the complexity of the US global empire, complete with its massive debt and 900 military bases around the world. This article is taking a “black swan” approach to the US dollar.

Michael Pettis: Global Cooperation After the Fall (Arthur Robey)

Michael Pettis is a Senior Associate at the Carnegie Endowment for International Peace and a finance professor at Peking University’s Guanghua School of Management, where he specializes in Chinese financial markets. Pettis has worked on Wall Street in trading, capital markets, and corporate finance since 1987.

Gold Is Money: Central Bank Actions Send Investors a Clear Message (Taki T.)

You’ll likely recall Hugo Chávez’s repatriation of Venezuelan gold in late 2011 – a decision that was widely believed to be motivated by fears of US sanctions and frozen assets. Chávez, however, said the move was to “safeguard against volatility in financial markets.” Admittedly, Chávez’s decision did not hold the same weight as Germany’s in the eyes of the world. Germany is an ally of the US, after all. However, having repatriated his gold just months before Europe’s debt crisis took hold, it’s hard to dismiss the foresight demonstrated by the 15th-largest gold holder in the world.

Barrick Gold Reports $3.1 Billion Loss (westcoastjan)

Barrick shares were up 78 cents, or 2.46 per cent to $32.50 in morning trading on the Toronto Stock Exchange.

The company's president and chief executive officer, Jamie Sokalsky, said investors are demanding fundamental change in the gold industry.

Gold Volatility - Are You Worried? (GE Christenson)

Examine a long term chart of gold prices and select the bull and bear market periods. Over the past eight years, I separated the gold chart into five bull periods and four bear periods.


Russia eyes $30B oil-for-loans deal with China (westcoastjan)

It came after a number of energy disputes between Russia and its neighbours which cut gas and oil supplies to Europe several times, drawing criticism and calls from the European Union for diversification away from Russian energy resources.

Russian President Vladimir Putin retaliated by saying Moscow would divert more energy resources to Asia.

Offshore Wind Farms Generate Their Own Microclimates (jdargis)

From the Greenopolis website: “Wind farms receive a lot of praise in the fight against climate change. Along with solar, they’re often pitched as our last hope for energy independence. Ironically, not only do they “fight” climate change but they also create micro-climates… Studies have shown that wind farms are even capable of changing weather patterns.”


Something Remarkable Is Happening Right Now With The Price Of Farmland (safewrite)

“Farm income and land values were boosted by high crop prices and high crop insurance payments. In North and South Dakota, land lease revenue increased thanks to the region’s energy deposits,” Business Insider notes.

“Bankers in the Corn Belt and Central Plains reported strong annual increases. Meanwhile in Texas, where growing conditions were poor, farmland values increased a modest 2.6 percent year-over-year,” the report adds.

Gene breakthrough boosts hopes for sorghum (Arthur Robey)

"Ultimately, increasing the calorific value of this crop without reducing yield can help to ensure global food security in drought-prone areas of Africa, Asia and elsewhere, while minimising negative effects of agricultural expansion," the paper said. The work marks the latest advance in agricultural genomics, in which the DNA of key crop plants is sequenced to look for genes that influence yields or resistance to drought, flood and salinity.

‘We’re farming in a polluted world’: Even organic foods are not GMO-free, industry leaders say (westcoastjan)

At an organic conference this month at the University of Guelph, Dag Falck, who operates the organic program with Nature’s Path, a North American breakfast cereal and snack-bar producer, said it was time the organic industry was more honest with its labelling. Pollen and seeds from genetically modified crops often make their way onto organic farms — and there’s no test for what the organic industry terms “cross contamination,” or trace amounts of GMOs.

Mobile phones call out for fresh water (westcoastjan)

“There’s a real need to provide drinking water to communities in a sustainable way,” Ochieng says. Every year thousands of deep wells, pumps, and boreholes are installed across the African continent by development organizations. Unfortunately, when funding dries up, so too does the water source. Studies have shown that as many as half of these projects are no longer working after two years. Pumps break. People stop paying. Wiring erodes. Parts vanish.

Canadian GM Salmon Nets FDA Thousands Of Comments (westcoastjan)

The response has been so strong in the past two months that the FDA was asked to extend the public comment period, and it issued a statement Wednesday to say comments will remain open an additional 60 days, until April 26.

Morgan Liscinsky, spokesperson for the FDA, said the agency will review the comments after that and decide how to proceed.

How Romanian workhorses end up on British dinner plates (westcoastjan)

After slaughter, some of Romania’s horses, the only option for the many farmers who can’t afford a tractor, have found their way across Europe, through processors and middlemen and finally into frozen meals masquerading as beef.

‘Totally drug-resistant’ tuberculosis spreads in South Africa as researchers warn global outbreak would be ‘untreatable’ (westcoastjan)

Researchers writing in the U.S. Centers for Disease Control journal warned in two new studies that the further outbreaks of drug resistant tuberculosis could devastate populations and economies of developing nations, particularly in the drug-resistant strain’s ground zero regions, such as in South Africa. Recent reports from 2012, however, drive home the importance of isolating drug-resistant TB, since the disease has also been popping up increasingly in wealthier Western cities such as London, where, of course, it can attack rich and poor indiscriminately.

Gold & Silver

Click to read the Gold & Silver Digest: 2/13/13

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."


saxplayer00o1's picture
Status: Diamond Member (Offline)
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Posts: 4260
Doug's picture
Status: Diamond Member (Offline)
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Posts: 3207

Those derivative numbers are really big.  Good thing the banks are tbtf. angry


maceves's picture
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Joined: Aug 23 2010
Posts: 281
rich farmers?

I don't see how the man in the field is ever going to be rich.....content, maybe, and able to support his family, perhaps.....

Maybe Jim Rogers is talking about farming on a grand scale...something my dad liked to call a "gentleman farmer" who had livestock and a garden, but had an income from somewhere else.  Surely he is talking about growing monocultures, using heavy machinery, GM seeds, herbicides, pesticides, and fertilizers.  He is assuming the land is paid for, and there is money for taxes, gasoline, land maintenance, hiring extra help, and to pay back that college loan on that agriculture degree.  Of course there has to be water, even during a drought.  The climate must be stable and benign, no long heat waves or massive storms.  The land itsself needs to be rich, and not stripped down and used up.  That farmer himself needs to be strong and resiliant, to walk the land, rope a calf, or pull machinery out of the mud.

Perhaps what he means is that the rich buy the land and get other people to work.  Then who are the farmers?


saxplayer00o1's picture
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4260
saxplayer00o1's picture
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4260
National debt passes $16.5 trillion

Treasury Direct link


The Daily History of the Debt Results

Historical returns from 02/01/2013 through 02/13/2013

The data for the total public debt outstanding is published each business day. If there is no debt value for the date(s) you requested, the value for the preceding business day will be displayed.

( Debt Held by the Public vs. Intragovernmental Holdings )


Date Debt Held by the Public Intragovernmental Holdings Total Public Debt Outstanding
02/01/2013 11,598,372,554,293.94 4,835,407,359,586.40 16,433,779,913,880.34
02/04/2013 11,626,337,288,025.30 4,848,711,110,140.49 16,475,048,398,165.79
02/05/2013 11,625,727,190,868.48 4,855,183,465,735.48 16,480,910,656,603.96
02/06/2013 11,625,346,979,571.39 4,854,607,678,532.18 16,479,954,658,103.57
02/07/2013 11,629,141,154,310.54 4,858,423,143,581.49 16,487,564,297,892.03
02/08/2013 11,629,086,187,262.76 4,859,822,660,565.49 16,488,908,847,828.25
02/11/2013 11,628,591,907,992.80 4,861,338,742,601.35 16,489,930,650,594.15
02/12/2013 11,628,648,227,429.31 4,865,719,111,994.35 16,494,367,339,423.66
02/13/2013 11,668,602,027,147.93 4,855,702,571,931.11 16,524,304,599,079.04


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