Daily Digest

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Daily Digest 3/4 - Bankers Thrown Into Lion’s Den, Sequester Will Hit Poor Hardest

Monday, March 4, 2013, 11:19 AM

Economy

London’s bad bankers thrown into the lion’s den (Arthur Robey)

The Commission’s remit is very wide. There are enough banking scandals to keep them busy for a very long time, including the LIBOR scandal [Barclays and RBS], money laundering [HSBC], mis-selling of Payment Protection Policies (PPI) to consumers [Lloyds], and mis-selling of interest rate hedging products (IRHP) to small businesses [all of the above]. The field is so large that the Commission has had to break itself up into smaller panels, currently running at 11 separate sub-committees — and growing.

As Automatic Budget Cuts Go Into Effect, Poor May Be Hit Particularly Hard (jdargis)

Republican and Democratic lawmakers largely resigned themselves to allowing sequestration — a policy meant to force them to the negotiating table, not to actually reduce the deficit — to take wider effect after it started on Friday. That leaves agencies just seven months to carry out their cuts before the fiscal year ends on Sept. 30. In many cases, they will eventually have to deny aid to eligible needy families.

Window on Iran Not Open ‘Indefinitely,’ Kerry Says (jdargis)

In his discussions with Kerry, Saud said he had "stressed the importance of enabling the Syrian people to exercise its legitimate right to defend itself against the regime's killing machine." Saud also decried the fact that the Assad continued to get weapons from "third parties," a veiled reference to Russia and Iran, which have backed the regime through the conflict.

Silver Prices Defy the Law of Supply and Demand (GE Christenson)

We need to ask ourselves how is it possible for the price of silver to undergo a substantial drop in price while simultaneously experiencing extremely tight supplies and burgeoning demand. In order to make a professional inquiry regarding this conundrum, we will dispel all the blather from the CNBC crowd that precious metals are in a bubble (they are NOT; both gold and silver remain firmly in a ten year upward channel of growth) and adopt an attitude like Dragnet’s Sergeant Friday, “Just the facts, ma’am, just the facts.”

Shell Predicts that Natural Gas or Solar will Become the No. 1 Energy Source (James S.)

The other scenario exists when the government has taken little interest in the markets and has instead allowed the economy to progress naturally. Fossil fuel demand, especially for coal, would grow around the world. High oil demand would lead to higher prices, which sustain drilling for unconventional reserves in harsh, expensive environments. High energy prices in general will lead to more investment in research of alternative sources of energy, which will eventually cause solar power to become the dominant source of energy on the planet in about 50 years time.

How Food Companies Exploit Americans with Ingredients Banned in Other Countries (VeganD)

The health of Americans is downright grim according to a report just released by the Institute of Medicine and the National Research Council. It declares “Americans are sicker and die younger than other people in wealthy nations.” The United States spends 2.5 times more on health care than any other nation, however, when compared with 16 other nations we come in dead last in terms of health and life expectancy for men and near the bottom for women.

Shark kills number 100 million annually, research says (westcoastjan)

While the number of sharks being caught has not changed substantially between 2000 and 2010, the authors of the research argue that the commercial fishing fleets are simply changing location and the shark species they target in order to keep up with demand. The fear is that eventually these shark species will crash.

Fuelling the concern is the fact that many of the species that are most threatened are very slow to reproduce.

Gold & Silver

Click to read the Gold & Silver Digest: 3/1/13

Provided daily by the Peak Prosperity Gold & Silver Group

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2 Comments

saxplayer00o1's picture
saxplayer00o1
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Tycer's picture
Tycer
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Joined: Apr 26 2009
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Thanks Sax! Your efforts are

Thanks Sax!

Your efforts are very much appreciated.

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