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Daily Digest 3/18 - 'No Cause For Panic' In Cyprus, Disease Threatens Aquaculture

Monday, March 18, 2013, 9:03 AM

Economy

Wakeup Call From Cyprus To The Rest Of The World (Taki T.)

Confiscation is happening in broad daylight. The above mentioned news regarding Cyprus is an act of outright confiscation. No discussion about it. People need to hand in part of their savings to prevent the bankruptcy of their banks. Confiscation is more actual than ever before, and it has many faces. Inflation, which is constantly underreported by governments, has been around for decades and will continue to be an “invisible” form of confiscation. The trend towards more severe cases of confiscation has just become clear as well.

With Regard to the Cyprus Bank Deposit Confiscations: Is Nothing Sacred? (Thomas C.)

It is driven by the allure of the cartels, monopolies, and monied interests, and their corrupt political bargains. It is a child of the subornation of perjury on a massive scale. It is the unscrupulous servility to power of those who have sworn to uphold and protect the law. What is truth? Whatever suits us, whatever we say it is, by whoever has the power and the craft to define 'we.' It is not the triumph of evil so much as the absence of any sense of the good, of honor, honesty, and of simple common decency.

No Cause For Panic (westcoastjan)

Cyprus and Eurogroup reached a political agreement on a bailout programme totaling 10 billion euro for the Cyprus economy, in the early hours of Saturday morning, following ten hours of talks in the Belgian capital. The agreement includes an unprecedented one-off levy on bank deposits to raise 5.8 billion euro and an increase in corporate tax from 10% to 12.5%.

Wall Street: $474 Million, Detroit: $0 (Thomas C.)

The debt sales cost Detroit $474 million, including underwriting expenses, bond-insurance premiums and fees for wrong-way bets on swaps, according to data compiled by Bloomberg. That almost equals the city’s 2013 budget for police and fire protection.

Tax Credits or Spending? Labels, but in Congress, Fighting Words (jdargis)

In budget proposals put forward last week, both Democrats and Republicans called for scrubbing billions of dollars’ worth of the popular deductions, loopholes, preferential rates and credits that litter the tax code, mostly benefit higher-income taxpayers and often reflect undue government interference in economic decisions. But the two sides are sharply divided what should happen to any revenue raised.

Federal government to announce plan to increase tanker safety (westcoastjan)

According to a senior government source, since the investment in the program, the number of spills observed offshore in the commercial shipping lanes has significantly declined, and evidence gathered by the NASP has led to 34 charges as a result of 29 incidents, and approximately $1.86 million in fines.

The federal government will provide long-term funding to NASP and say they will boost surveillance efforts in areas such as northern B.C.

MIT Develops Meltdown-Proof, Nuclear Waste-Eating Reactor (James S.)

Transatomic, founded by a pair of very smart and innovative young nuclear engineers, has updated the molten-salt reactor, a reactor type that’s highly resistant to meltdowns. Molten-salt reactors were demonstrated in the 1960s at Oak Ridge National Lab, where one test reactor ran for six years. What remains is raising $5 million to run five experiments to help validate the new basic design.

Disease threatens aquaculture in developing world (westcoastjan)

The study, published in February's issue of the Journal of Applied Ecology, is the first analysis of the global pattern of disease outbreaks in aquaculture, according to its lead author, Tommy Leung, a lecturer in parasitology and evolutionary biology at the University of New England, Australia.

By examining published reports of disease-induced mortalities in commercial aquaculture, it found that outbreaks were more deadly and progressed quicker in the tropics than in temperate regions, after controlling for differences in veterinary and disease-reporting infrastructure.

Gold & Silver

Click to read the Gold & Silver Digest: 3/15/13

Provided daily by the Peak Prosperity Gold & Silver Group

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4 Comments

saxplayer00o1's picture
saxplayer00o1
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Tall's picture
Tall
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Did oil shock kill the Soviet Union?

Just before Soviet oil production peaked in 1988 (the event walked hand in hand with a major drop in oil prices), the empire realized that it no longer had enough black gold to pay its bills.

In full panic mode, "the dynamically developing world superpower" (as experts then called it) started to borrow heavily to prevent a bread famine due to oil-spending industrialization schemes that pushed 80 million farmers into Soviet slums. "But peak oil pushed the Soviet Union into an abyss," says Reynolds.

To save oil for its own needs, Moscow even started to charge eastern Europe hard currency for its oil and at global prices. "Without the free oil, the eastern European economies went into a tailspin," says Reynolds. Shortly afterwards the whole Soviet machine disintegrated as well.

So oil scarcity lead to debt, which feed an economic down turn (and lower GDP) that eventually resulted in currency devaluation along with a dramatic drop in oil consumption of 50 per cent from 1988 to 1995.

http://www.resilience.org/stories/2013-03-18/what-really-killed-soviet-union-oil-shock

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4236
saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4236

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